MUMBAI (Credit/Reuters) -The Reserve Bank of India (RBI) on Wednesday indefinitely barred MastercardInc from issuing new debit or credit cards to domestic customers for violating data storage rules, dealing a blow to the U.S. company in a key market. In a notification, the RBI said […]
Stocks are falling sharply Monday as worries sweep from Wall Street to Sydney that the worsening pandemic in hotspots around the world will derail what's been a strong economic recovery. The S&P 500 was 1.9% lower in morning trading, after setting a record high just […]
Nearly one tenth of the global population, between 720 million people and 811 million, were undernourished last year, according to a UN report. Global hunger levels have skyrocketed because of conflict, climate change and the economic impact of the Covid-19 pandemic; and one in five […]
Neha Parikh, the former president of Hotwire and a board member of Carvana, has been named CEO of Waze, the app that leads millions on the road tyo reach their destinations. Parikh replaces Noam Bardin, who stepped down as CEO of the Google-owned navigation service […]
Global rating agency Standard and Poor’s has affirmed India’s sovereign rating at “BBB-” and maintained a stable outlook on gradual recovery in the economy. India’s recovery will gather pace through the second half of FY22 and into the following year, helping to stabilise the country’s […]
Amazon CEO Jeff Bezos will leave his post later this year, turning the helm over to the company’s top cloud executive, Andy Jassy, according to an announcement Tuesday. Bezos will transition to executive chairman of Amazon’s board. Bezos, 57, founded Amazon in 1994 and has […]
A ransomware attack paralyzed the networks of at least 200 U.S. companies on Friday, according to a cybersecurity researcher whose company was responding to the incident. The attack, first revealed last week, is believed to be affiliated with the prolific ransomware gang REvil and perpetuated […]
As many people contemplate a future in which they don't need to commute to offices, the idea of working less altogether also has its appeal. Now, research out of Iceland has found that working fewer hours for the same pay led to improved well-being among […]
2U, Inc., a global leader in education technology, and edX, a leading online learning platform and education marketplace, announced they have entered into a definitive agreement to join together in an industry-redefining combination that will help power the digital transformation of higher education, expand access […]
United Airlines is placing a jumbo-sized order of narrow-body aircraft. The company is purchasing 270 new planes from Boeing and Airbus.Last year, U.S. airlines were fighting to survive. Struggling in the depths of the pandemic, they received an infusion of cash and cheap loans from […]
Bitcoin recovered from a five-month low on Tuesday, June 22nd in volatile session in which it fell below $30,000, extending losses sparked a day earlier when China's central bank deepened a crackdown on cryptocurrencies. But its outlook remained tilted to the downside, analysts said. As […]
Digital currencies like Bitcoin often make headlines for the massive swings in their value, but beyond the intrigue of skyrocketing and plummeting prices the rising popularity of cryptocurrencies poses serious questions for financial institutions and monetary policy. Eswar Prasad joins David Dollar for a conversation […]
The Biden Administration has revived the International Entrepreneur Rule which creates a pathway for foreign entrepreneurs to live in the U.S., with their families, and grow a start-up company. The International Entrepreneur Rule is different from an E-2 investor visa: Indian and Chinese entrepreneurs are […]
The Tamil Nadu government will constitute an Economic Advisory Council to guide chief minister MK Stalin to chart out a rapid and inclusive economic growth path for the state, said Governor BanwarilalPurohit on Monday, June 21st.A white paper detailing the true state of Tamil Nadu’s […]
GABORONE, Botswana (AP) — A huge diamond weighing more than 1,000 carats, which could be the third-largest mined in history, has been discovered in the southern African country of Botswana.The high-quality gemstone weighing 1,098.3 carats was unearthed earlier this month in the Jwaneng mine owned […]
U.S. Senators Amy Klobuchar, D-Minnesota; Susan Collins, R-Maine; Jacky Rosen, D-Nevada; and Joni Ernst, R-Iowa have reintroduced bipartisan legislation to increase the number of doctors able to work in rural and medically underserved communities, Klobuchar’s office said in a news release. The Conrad State 30 […]
The Equal Access to Green cards for Legal Employment HR 3648 or the EAGLE Act 2021, introduced by Congresswoman Zoe Lofgren and Rep John Curtis, giving Equal Access to Green Cards for Legal Employment in the United States, is a welcome measure that is expected […]
In a rare agreement between two arch-rivals India and Pakistan, which have a history of long-time rivalry with disputes on every front from sea to land, exporters from both sides of the border have mutually agreed to share the ownership of the regions prized Basmati […]
(New York, NY - June 15, 2021) Currently, small businesses in the U.S. and Canada are unable to source products directly from India, due to high minimum order quantities (MOQs), trust & reliability issues and, now, strict travel restrictions in place post-COVID. ENTER...BlueRickhsaw.com (BR), a highly-curated, digital, B2B, wholesale […]
Newswise — Many employees have come to prefer working from home after being forced to do so more than a year ago when the pandemic started. By some estimates, at least one-quarter of employees will still be working remotely multiple days a week at the […]
Colonial Pipeline CEO Joseph Blount made no apologies for his decisions to abruptly halt fuel distribution for much of the East Coast and pay millions to a criminal gang in Russia as he faced down one of the most disruptive ransomware attacks in U.S. history.Blount […]
A technology company has admitted to committing fraud to bring Indians on the coveted H1-B visas to the US, according to a federal prosecutor. JomonChakkalakkal, the corporate representative of Cloudgen, made the admission before a federal court in Houston, Texas, on behalf of the company […]
Amazon founder Jeff Bezos paid no income tax in 2007 and 2011. Tesla founder Elon Musk’s income tax bill came to zero in 2018. And financier George Soros went three straight years without paying federal income tax, according to a report from the nonprofit investigative […]
Bitcoin, the original cryptocurrency, was launched in 2009. Today, there are thousands of cryptocurrencies with a total value of about $2 trillion. The surge in their prices earlier this year minted tens of thousands of cryptocurrency millionaires—at least on paper. Cryptocurrencies might turn out to be a massive […]
The world’s biggest industrialized economies will shrink by twice as much as they did during the coronavirus pandemic if they do not tackle rising greenhouse gas emissions, according to research. Oxfam and the Swiss Re Institute have warned that the G7 countries will lose 8.5% […]
Titled The Costs of Climate Change in India, the report states that India is already experiencing the consequences of 1 degree C of global warming. India may have already lost 3% of its gross domestic product (GDP) on account of global warming of 1 degree […]
America's stores are having trouble bringing on staff to meet growing demand from customers as the US economy regains steam. So they're turning to an incentive less commonly deployed in the retail industry: sign-on bonuses for new hires.Amazon (AMZN), Ollie's Bargain Outlet (OLLI), Tops Markets […]
President Joe Biden announced the nomination of Arun Venkataraman to serve as Director General of the U.S. Foreign Commercial Service and Assistant Secretary for Global Markets in the Department of Commerce on May 26th. Venkataraman currently serves in the administration as Counselor to the Secretary […]
Amartya Kumar Sen, an Indian economist and philosopher who studied the causes of famines, will be recognized with this year’s Princess of Asturias award in the social sciences category, the Spanish foundation behind the prizes announced May 26.The 87-year-old Sen has devoted his career to […]
The Covid-induced volatility heavily dented India’s economy in the last fiscal as its growth rate plunged (-) 7.3 per cent in FY 2020-21. Though not comparable, the GDP had grown by 4 per cent in 2019-20.Accordingly, the pandemic-triggered national lockdown (from late March 2020) during […]
After years of outright dislike for cryptocurrencies, India’s central bank appears to have had a change of heart. On May 31, the Reserve Bank of India (RBI) told banks and other financial institutions in the country that they should not cite its 2018 circular that […]
The Indian Medical Association (IMA) has now filed a police complaint in Delhi and sought that an FIR be registered against Patanjali boss Ramdev. Signed by IMA General Secretary DrJayeshLele, the complaint states that Ramdev, along with his associates "operated in furtherance of their illegal […]
More than three in four young Indian workers believe that employers should offer the opportunity to work a four-day week to promote employee well-being post-pandemic, a new report said on Wednesday.Made up of millennials (born 1981 to 1996) and Generation Z (born after 1997) workers, […]
China’s ruling Communist Party has said, it will ease birth limits to allow all couples to have three children instead of two in hopes of slowing the rapid aging of its population, which is adding to strains on the economy and society.The ruling party has […]
The Sunday Times, UK, reported this year’s Rich List that identifies a record 171 UK billionaires — 24 more than in 2020. That is the biggest jump in the 33 years The Sunday Times has been tracking the fortunes of the UK’s most affluent people. […]
With an impressive track record of establishing brands and leading companies around the world, Niren Chaudhary leads Panera Bread as CEO with passion since May 2019. In an exclusive interview With Dr. ManjuSheth, Mr. Chaudhary talks about his personal life story, inspiration, interests, how Panera […]
Today’s historic announcement should send a clear signal to the 23 million AAPIs living in this country that TAAF and our AAPI Giving Challenge partners are here to upend the status quo in favor of a better, brighter future for AAPI communities. Asian American Foundation, […]
An eminent Indian-American cardiologist and philanthropist, has raised more than $15mn in Series A funding for a Mumbai-based electric vehicle charging solutions company, Magenta EV Solutions. Besides being a cardiologist, Dr. Kiran Patel is a billionaire and a serial entrepreneur. “My wife and I have […]
Admitting that hybrid work paradox is here to stay amid the pandemic, Microsoft CEO Satya Nadella has outlined a detailed approach about how his company is going to tackle the biggest shift to global workplace that requires a new operating model, spanning people, places and […]
Home prices in the US continued to climb in April, reaching new highs and rising at the fastest pace on record. The median sale price was a record $341,600 in April, according to a report from the National Association of Realtors. It was the highest […]
Air India has admitted to a massive data breach that compromised the personal data of about 4.5 million passengers. The hackers were able to access 10 years’ worth of data including names, passport and credit card details from the Atlanta-based SITA Passenger Service System, Air […]
A lawsuit filed in federal court alleges that more than 200 workers — many or all of whom don’t speak English — were coerced into signing employment agreements in India to build expansion of the largest Hindu Temple by BAPS in the US on the […]
The U.S. Chamber of Commerce May 5 announced the formation of the Global Task Force on Pandemic Response, which includes numerous Indian American company executives. The public-private partnership will provide immediate assistance to India and will assist in coordinating relief to respond to COVID-19 surges, according […]
Effective May 17, 2021, U.S. Citizenship and Immigration Services will temporarily suspend the biometrics submission requirement for certain applicants filing Form I-539, Application To Extend/Change Nonimmigrant Status, requesting an extension of stay in or change of status to H-4, L-2, and E nonimmigrant status. In […]
Colonial, a major US fuel pipeline has reportedly paid cyber-criminal gang DarkSide nearly $5m (£3.6m) in ransom, following a cyber-attack.Colonial Pipeline suffered a ransomware cyber-attack over the weekend and took its service down for five days, causing supplies to tighten across the US.CNN, the New […]
Tesla has suspended customers’ use of bitcoin to purchase its vehicles, Tesla’s billionaire CEO said last week, citing concerns about the use of fossil fuel for bitcoin mining.Elon Musk said the company had suspended use of bitcoin for purchase of its electric vehicles, citing fears about […]
Reliance Retail ranks 53rd in the list of Global Powers of Retailing by Deloitte, improves from 56th earlier. It remains the 2nd fastest growing retailer in the world despite the base effect of being No.1 last year. Reliance Retail features consecutively for the 4th time […]
A comprehensive overview of the Telemedicine market is recently added by UnivDatos Market Insights to its humongous database. The Telemedicine market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of […]
Indian students will be the major beneficiaries of Canada’s new one-time immigration program which opened for applications last week. Under the program, over 90,000 international students and temporary essential workers, already in Canada, will be given permanent residence (PR). Under it, 40,000 international students, 30,000 […]
Mortgage rates fell slightly this week, marking their third straight week below 3% amid signs of the recovering economy’s strength. Mortgage buyer Freddie Mac reported Thursday that the average for the benchmark 30-year home-loan rate eased to 2.96% from 2.98% last week. At this time […]
Roivant Sciences, a biopharmaceutical and healthcare technology company, and Montes Archimedes Acquisition Corp. (Nasdaq: MAAC), a special purpose acquisition company sponsored by Patient Square Capital, today announced that they have entered into a definitive business combination agreement. Upon closing of the transaction, outstanding shares and […]
Pope Francis has issued a decree aimed at financial transparency in the church, requiring a strict limit on the value of gifts that cardinals and managers can receive and requiring them to disclose their investments to ensure they are in line with Catholic doctrine. The […]
UNITED NATIONS, Apr 26 2021 (IPS) - The United Nations– which is desperately seeking funds to help developing nations battling a staggering array of socio-economic problems, including extreme poverty, hunger, economic inequalities and environmental hazards– has continued to be one of the strongest advocates of […]
After delaying the opening of the 2019 EEO-1 Component 1 Data Collection on May 8, 2020 in light of the COVID-19 public health emergency, the U.S. Equal Employment Opportunity Commission (EEOC) announced today that the 2019 and 2020 EEO-1 Component 1 data collection is now […]
"Help is here and hope is here -- and things are looking up. Schools are reopening. Businesses are reopening. Grandparents are seeing their grandchildren in person. We are delivering real, real relief:" Said Kmala Harris Kamala Harris delivered her first extended economic speech since becoming […]
The Indian American community is deeply saddened to share that at least four Sikhs are among those killed late Thursday night when a gunman stormed a FedEx facility in Indianapolis known to have a large Sikh workforce. The deadly mass shooting last week at a […]
Bitcoin (BTC-USD) is experiencing a massive sell-off, shedding almost 15% in the last 24 hours — the biggest intraday drop since February. The drop appears to coincide with reports that the US Treasury is planning to tackle financial institutions for money laundering carried out through […]
Beyond roads and bridges, President Joe Biden is trying to redefine infrastructure not just as an investment in America the place, but in its workers, families and people. Beyond roads and bridges, President Joe Biden is trying to redefine infrastructure not just as an investment […]
Laxmi, the oldest and most well-loved South Asian brand in North America, has announced that Bollywood Superstar and Fitness Icon Shilpa Shetty Kundra is its New Face. Unveiling its latest campaign and vision for the North America market, Laxmi, the oldest and most well-loved South […]
The International Monetary Fund has long favored adoption of a global minimum tax on corporate profits, the Fund’s chief economist, Gita Gopinath, told reporters, calling tax avoidance a troubling issue for the global economy. Gopinath said current disparities in national corporate tax rates had triggered […]
India did not cause the climate crisis but it cannot be solved without that nation’s help, United States Climate Envoy John Kerry, who is visiting India this week for climate talks, is reported to be telling New Delhi. As one of the world’s largest economies […]
Aerospace major Boeing expects demand for more than 2,200 new jets valued at nearly $320 billion over the next 20 years in India. In its annual Commercial Market Outlook (CMO), Boeing anticipates resilient long-term demand for commercial airplanes and services. The CMO cited that Covid-19 […]
India’s market regulator fined Reliance Industries Chairman Mukesh Ambani and others 250 million rupees ($3.36 million) last week over irregularities in a two-decade-old share issue in the company. India’s market regulator fined Reliance Industries chairman Mukesh Ambani and others Rs 25 crore ($3.36 million) on […]
WASHINGTON—U.S. Citizenship and Immigration Services today announced that F-1 students seeking optional practical training (OPT) can now file Form I-765, Application for Employment Authorization, online if they are filing under one of these categories: (c)(3)(A) – Pre-Completion OPT; (c)(3)(B) – Post-Completion OPT; and (c)(3)(C) – […]
The Governor of South Carolina, Henry McMaster declared March 24 as the “IAICC-South Carolina Chapter Day,” in a proclamation, at the inauguration of the IAICC South Carolina Chapter on March 24 at the Governor’s Mansion in Columbia, South Carolina. Governor McMaster presented the proclamation to […]
Union minister Nitin Gadkari said on Friday that India holds the world record for fastest road construction. "We made three world records in March. India now holds world record for fastest road construction. We made it to Guinness World Records by building a 2.5 km […]
A strengthening US dollar as well as rising bond yields depreciated the Indian rupee to a month’s low level. The rupee closed at 73.38 per dollar, down from 72.51 on Friday. The broad strength in the dollar has hit almost all emerging market currencies, while […]
The United States Trade Representative has announced initiation of investigation against the taxation on digital services adopted or under consideration by countries including the equalization levy applied by India. The other counties under investigation included Italy, Turkey, UK, Spain and Austria. A statement from the […]
President Biden has unveiled a sprawling, ambitious infrastructure proposal that, if enacted, would overhaul how Americans get from Point A to Point B, how their electricity is generated, the speed of their Internet connections, the quality of their water and the physical makeup of their […]
The World Bank has scaled up its projections for India's economic growth by a massive 4.7 percentage points to 10.1 per cent for 2021-22 due to strong rebound in private consumption and investment growth. The Bank had pegged the GDP growth at 5.4 per cent […]
AAHOA President & CEO Cecil P. Staton issued the following statement in response to new guidelines issued by the Centers for Disease Control and Prevention (CDC) that greenlight fully vaccinated people to resume travel. Over 100 million Americans have had at least one dose of […]
The US Dollar’s share of global currency reserves dropped in the fourth quarter to around 59%, the lowest in 25 years, according to International Monetary Fund data. The slide came in a quarter when a gauge of the greenback fell the most since 2010, and […]
(IPS) - COVID-19 has set back the uneven progress of recent decades, directly causing more than two million deaths. The slowdown, due to the pandemic and policy responses, has pushed hundreds of millions more into poverty, hunger and worse, also deepening many inequalities. The outlook […]
The COVID-19 pandemic has changed life as we know it, severely affecting businesses across various industries. While some were able to survive with a shift to online sales and services, not every sector was as fortunate. One of the most affected industries was tourism, and […]
The colossal cargo ship that became stuck on the banks of Egypt's Suez Canal last week, blocking traffic through the crucial waterway, was finally freed from the shoreline by engineers on Monday afternoon. The so-called Ever Given, a 224,000-ton, 1,300-foot-long container ship registered in Panama, […]
(Chicago, IL: March 23, 2021) “AAPI wants to express our deep concerns and anguish about the violence the nation has witnessed against people of Asian origin,” Dr. Sudhakar Jonnalagadda, President of American Association of Physicians of India Origin (AAPI) said here today. In a statement issued […]
(Stamford, CT: March 26, 2021) COVID has impacted all aspects of our lives, and every community in the US and around the world has suffered immense losses due to the deadly virus, taking a toll on our emotional, physical and economic wellbeing. Indian American businesses, […]
The decline in travel due to COVID-19 has devastated our economy and torn at the very fabric of our society. Our economy suffered shocking impact—nearly $500 billion in lost travel spending, resulting in $64 billion in missed federal, state, and local tax revenue since the beginning […]
The $1.9 trillion COVID-19 relief package is being hailed as a generational expansion of the social safety net, providing food and housing, health care and is a broad-based attack on the cycle of poverty. With more than $6 billion for food security-related programs, more […]
The Federation of Indian Chambers of Commerce & Industry (FICCI) and Boston Consulting Group (BCG) on Saturday, March 14th unveiled ‘India FinTech: A USD 100 Billion Opportunity’ report. The report details the findings from the study that BCG and FICCI undertook to size the value-creation […]
Adani Group Chairman Gautam Adani has achieved a remarkable milestone amid the Covid-19 pandemic, as he added the highest wealth to his fortune in the world, as per the latest Bloomberg Billionaires Index. The Bloomberg Billionaires Index showed that so far in 2021, Adani has […]
While 2020 was a grim year for countless businesses across the world, strangely, it was also a time when India added new billionaires to its list. In fact, India now stands third in the number of Indian-origin billionaires after China and the US. The COVID-induced […]
Americans who purchased new homes or refinanced their mortgages over the past few months may have done so at just the right moment. The average rate on a 30-year fixed-rate mortgage rose to 3.02%, mortgage-finance giant Freddie Mac said Thursday. It is the first time the rate […]
On a road into New Delhi, countless cars a day speed over tones of plastic bags, bottle tops and discarded polystyrene cups. In a single kilometer, a driver covers one ton of plastic waste. But far from being an unpleasant journey through a sea of […]
Expertise.com, a resource that evaluates and publishes the best local experts, has published a comprehensive report on the safest cities and towns in the U.S. The study ranks the safest to most dangerous cities and towns with a population of 10,000 or more. Research experts […]
The US has agreed to suspend tariffs on UK goods including single malt whiskies that were imposed in retaliation over subsidies to the aircraft maker Airbus. Tariffs will also be lifted on UK cheese, cashmere and machinery. The duties will be suspended for four months […]
Tata Group and private airline Spicejet remain in the fray for buying Air India as all the other bids have been rejected, according to sources close to the development. Bids by others have been rejected after the evaluation of the expressions of interest (EoI) where […]
The Democrat controlled US House of Representatives approved a massive $1.9 trillion coronavirus relief package, advancing President Joe Biden's top agenda item and providing more resources to schools and businesses, boost funding for vaccinations and testing, and grant financial relief to Americans across the country. […]
The US, the world's largest economy, owes India USD 216 billion in loan as the country's debt grows to a record USD 29 trillion, an American lawmaker has said, cautioning the leadership against galloping foreign debt, the largest of which comes from China and Japan. […]
Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), announced on Sunday that it has acquired majority stake in its investee company skyTran Inc for a consideration of $26.76 million. With this transaction, RSBVL has increased its shareholding to 54.46 […]
OPEC and Russia's unprecedented production cuts last spring lifted oil prices out of a death spiral. Nearly a year later, the group is under pressure to cool off the red-hot market. US crude has raced back above $60 a barrel. That's a far cry from […]
A group of experienced Indian American hoteliers, who have dealt with franchises for over 50 years, launched their first-ever Indian American hotel franchise named Membership Hotel Organization, MHO Hotels, Feb. 16 at Royal Albert’s Palace in New Jersey. The event was attended by 100 invited […]
Roivant Sciences today announced it has entered into a definitive agreement to acquire Silicon Therapeutics for $450 million in Roivant equity, with additional potential regulatory and commercial milestone payments. Silicon Therapeutics has built a proprietary industry-leading computational physics platform for the in silico design and optimization […]
Traditional fishermen are opposing a multimillion-dollar overseas deep-sea fishing project in Kerala that they say threatens the livelihood of ordinary fisher people in the southern Indian coastal state. Permitting overseas firms to join deep-sea fishing will further impoverish Kerala's traditional fishermen, they say. Following criticism from opposition leaders […]
The U.S. tried to resolve “long-standing market access impediments affecting U.S. exporters” with India during 2020, says the 2021 President’s Trade Agenda and 2020 Annual Report — an annual report submitted by the U.S. Trade Representative (USTR) to Congress. The report terms India’s policies “trade-restrictive” […]
Several leading New Jersey business- owners of Indian origin met with Consul General of India in New York on Feb. 16, 2021 and discussed on ways they could contribute to help India’s economic development and grow U.S.-India relations, according to a report by Parikh Media. […]
According to the State Department, Indians with advanced degrees whose immigration applications were approved in 2009 and skilled workers and professionals whose applications were okayed in 2010 are still waiting for their green cards because each country regardless of size are allowed only 26,000 green […]
A rare opportunity has presented itself: physicians, hospitals, insurers and employers have come together to agree on a common path forward to cover the uninsured through an Affordable Coverage Coalition that is the first of its kind. As a group, we recognize that universal health coverage […]
The world's most popular cryptocurrency jumped to an all-time high above $54,000, setting it on course for a weekly jump of more than 11%. It has surged roughly 64% so far this month and was last up 5.5% at $54,405. All digital coins combined […]
Life expectancy in the United States fell by a full year in the first six months of 2020, the federal government reported on Thursday, the largest drop since World War II and a grim measure of the deadly consequences of the coronavirus pandemic. Life expectancy is […]
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