Prices in the US are rising at their fastest rate in almost 40 years, with inflation up 7% year-on-year in December. Strong demand and scarce supply for key items such as cars are driving the increases, which are putting pressure on policymakers to act. The […]
The global economy is on track to grow by 4.1 per cent in 2022, down 0.2 percentage point from a previous projection, the World Bank Group said in its latest Global Economic Prospects release. “The global recovery is set to decelerate markedly amid continued Covid-19 […]
EternalHealth, the first new health plan to be approved in Massachusetts since 2013, announced today that it has raised another $10 million in Series A funding. This additional financing follows an initial $10 million in Seed and Pre-Series A investment by successful healthcare and tech […]
Patel Spirits Inc. of Orlando, Florida officially released its P1 Vodka to the public market. P1 Vodka is Patel Spirits Inc.’s inaugural brand of Premium Vodka inspired from their founder’s Indian heritage. “P1 Vodka adheres to their gold standard in gluten-free, handcrafted, small batch vodka by using American Mountain water from […]
According to media reports, momentum is growing for narrowing the scope of President Biden’s social spending and climate package as Democrats seek a way to get the bill through the Senate with Sen. Joe Manchin’s (D-W.Va.) support. Manchin effectively killed a much more wide-ranging bill, […]
The U.S. Department of Education announced a 90-day extension of the pause on student loan repayment, interest, and collections through May 1, 2022. The extension will allow the Administration to assess the impacts of the Omicron variant on student borrowers and provide additional time for […]
When Pune’s D.S. Pai visited Goa four years ago for an official conference, he took out time early one morning to visit his Kuldev, family deity, Ramnathi temple at Bandivade. “My colleagues were interested and came along with me. They said they did not even […]
If you want to become a billionaire—and you didn’t happen to be born into the Saudi royal family—there are a few ways to get the job done. You could come up with one seriously good idea, like a new computer operating system or social network, […]
With inflation at a 39-year high, Americans are feeling the pinch in just about every facet of daily life. The consumer price index jumped 6.8% from a year earlier, the fastest pace since 1982, as prices surged for staples such as food and gasoline, as […]
India’s Aditya Birla Fashion and Retail Ltd (ABFRL) said on Tuesday it would buy exclusive rights to sell global sportswear brand Reebok’s products both online and offline in the Indian market. Shares of ABFRL jumped 4.6% to 279 rupees after the announcement. The deal will […]
Tamil Nadu Chief Minister M.K. Stalin is in the process of roping in Tamil diaspora abroad to achieve the state’s trillion-dollar goal by 2030, a pet project of the Chief Minister. The Tamil Nadu government has already roped in the services of several nonresident Tamils […]
Americans are acutely sensitive to gasoline prices, especially when they’re on the rise. One reason, of course, is that we buy a lot of gas: an estimated 570 gallons this year for the average driver, which at current national average prices would cost close to $2,000. […]
The amount of money companies are setting aside for raises is expected to rise at the fastest rate in more than a decade, as employers fight to keep and hire workers in a historically tight labor market, a new survey says. Budgets for wage […]
Parag Agrawal, who was appointed this week as Twitter's CEO, has joined at least a dozen other Indian-born techies in the corner offices of the world's most influential Silicon Valley companies. Microsoft's Satya Nadella, Alphabet's Sundar Pichai, and the top bosses of IBM, Adobe, Palo […]
Indian-American Gita Gopinath, the chief economist of International Monetary Fund, is being promoted as IMF’s First Deputy Managing Director, the fund announced last week. She would replace Geoffrey Okamoto who plans to leave the Fund early next year. Ms. Gopinath, who was scheduled to return […]
“Corruption, embezzlement, fraud are all characteristics which exist everywhere. It is regrettably how human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. But, unfortunately, no one has ever eliminated any of that stuff”- said. Alan […]
India is the fourth most powerful country in Asia, as per the Lowy Institute Asia Power Index 2021. The annual Asia Power Index — launched by the Lowy Institute in 2018 — measures resources and influence to rank the relative power of states in Asia. […]
Visa Inc has complained to the U.S. government that India’s “informal and formal” promotion of domestic payments rival RuPay hurts the U.S. giant in a key market, memos seen by Reuters show. In public Visa has downplayed concerns about the rise of RuPay, which has […]
The new owners of once-bankrupt Jet Airways India are in talks with Boeing and Airbus to purchase at least 100 narrowbody jets for the carrier’s fleet in a bid to revive what used to be the biggest private airline in the South Asian nation before […]
While the crypto currency market is booming and thousands of new virtual currencies are being mined every week, many financial experts and governments are vehemently raising voice to ban all cryptos for various reasons. Last week, RBI governor Shaktikanta Das said the Reserve Bank had […]
Noida International Greenfield Airport, also known as Delhi Noida International Airport or Jewar Airport, is proposed to be built in Jewar, Greater Noida, in Uttar Pradesh, India. The proposed airport will help relieve congestion at the Indira Gandhi International Airport (IGI) and serve the fast-developing […]
The floating city could withstand natural disasters including floods, tsunamis and Category 5 hurricanes as its floating platforms will be anchored to the seafloor. The world’s first floating city, which will be built off the coast of South Korea, is likely to be completed by […]
Tamil Nadu Chief Minister M.K. Stalin has appointed a prominent Indian American venture capitalist, M.R. Rangaswami as Tamil Nadu’s ‘Investment Ambassador’ on Friday, November 26. Rangaswami has been an active member of the Indian American community whose influence has inspired many. Over the years he […]
After months of wrangling, House Democrats managed a big win Friday, November 19th passing their roughly $1.75 trillion social and climate spending package despite a Republican effort to delay the final vote. House Speaker Nancy Pelosi, wearing white, announced the passage of President Joe Biden's […]
The social spending bill approved by the House Friday in a 220-213 vote includes the most extensive immigration reform package reviewed by Congress in 35 years, albeit in a much reduced version from what proponents originally sought. If the provision is approved by the Senate […]
What signal should we be taking from current inflation for future inflation? The answer: some signal, but not a lot. To be sure, inflation is running high (figure 1); and, after excluding the typically volatile categories of food and energy prices, is running higher than […]
The civil aviation industry in India has emerged as one of the fastest growing industries in the country during the last three years. India has become the third largest domestic aviation market in the world and is expected to overtake UK to become the third […]
The recently launched report by World Bank noted that India received $87 billion in remittances in 2021, and the United States was the biggest source, accounting for over 20% of these funds. On Wednesday, November 17, the World Bank report stated, “Flows to India (the […]
U.S. Citizenship and Immigration Services has settled a lawsuit Nov. 10, which allows the spouses of L-2 workers to automatically receive work authorization, and also provides an automatic 180-day extension of work authorization for some spouses of H-1B workers. “Once implemented by the agency, L-2 […]
Rajeshwar Prasad, founder and chairman of The National Indo-American Association for Senior Citizens (NIAASC) was honored with a Lifetime Achievement Award, During the 32nd annual Conference and 23rd Annual meeting of NIAASC on Sunday, November 7th, 2021 at the India Home in Jamaica, New York. […]
Confused about inflation? You're not alone. Inflation is, paradoxically, both incredibly simple to understand and absurdly complicated. Let's start with the simplest version: Inflation happens when prices broadly go up. That "broadly" is important: At any given time, the price of goods will fluctuate based […]
The federal government announced a large hike in Medicare premiums Friday night, blaming the pandemic but also what it called uncertainty over how much it may have to be forced to pay for a pricey and controversial new Alzheimer's drug. The 14.5% increase in Part […]
Association of South Asian Real Estate Professionals (ASARP) organized its annual gala on November 7th at Fairfield Inn, Schaumburg. The program was hosted by Prachi Jaitly and Shirin Marvi. The event kicked off with social networking and live Indian Flute on stage followed by national anthems […]
Global wealth tripled over the last two decades, with China leading the way and overtaking the U.S. for the top spot worldwide. That’s one of the takeaways from a new report by the research arm of consultants McKinsey & Co. that examines the national balance […]
The Biden administration has been making gradual changes in the immigration department to make it easier for foreign professionals to travel to US, unlike the previous administration. In the past few months, President Biden has been signing off crucial documents that will let IT professionals […]
BOSTON–PropertyShark released its annual most expensive zip codes of 2021. New England is home to 11 of the priciest U.S. zip codes, including #2 with Boston’s Back Bay. The full list is included towards the end in this article. Key Takeaways: At nearly $7.5 million, Atherton, Calif.’s 94027 […]
Corporations and business groups are calling on President Biden to sign the bipartisan $1.2 trillion infrastructure bill into law quickly after it finally cleared Congress late Friday, November 5th, after several months of painstaking negations. The infrastructure bill passed the House 228-206 on Friday. Thirteen […]
Americans' inflation fears continued to accelerate in October, climbing for the 12th consecutive month in a row to another record high, according to a key Federal Reserve Bank of New York survey published Monday, November 8, 2021. "Median inflation uncertainty – or the uncertainty expressed regarding […]
A new 5 pound coin to commemorate the life and legacy of Mahatma Gandhi was unveiled by Chancellor Rishi Sunak to mark the Hindu festival of Diwali. Available in a range of standards, including gold and silver, the special collectors’ coin was designed by Heena […]
On the eve of Diwali, the Central government had cut excise duty on petrol and diesel prices by Rs 5 and Rs 10, pronouncing this as “Diwali Gift” .This brought relief to customers, who were reeling under inflation and skyrocketing fuel prices. Following this, at […]
The announcement on November 2nd, 2021 by 105 countries, representing two thirds of the global economy, joining a U.S. and E.U.-led coalition to cut up to 40% of methane emissions by 2030 has been the most positive outcome from the ongoing Climate Summit from Glasgow. […]
After months of tense talks, delayed votes and internal clashes, Democratic leaders are on the cusp of solidifying a deal on President Biden’s sweeping domestic agenda, setting the stage for the House to vote on both a bipartisan infrastructure bill and a larger social benefits […]
Facebook CEO Mark Zuckerberg announced on October 28th at his company’s Connect event that its new name will be Meta. “We are a company that builds technology to connect,” Zuckerberg said. “Together, we can finally put people at the center of our technology. And together, […]
Barclays new CEO is CS Venkatakrishnan, an Indian-American and the first person of color to hold that position. Mysore-born CS Venkatakrishnan has replaced Jes Staley as Barclays CEO after the latter stepped down on Monday, November 1st. Barclays said succession planning has been in place […]
Mohandas Gandhi, the original proponent of the fabric, once said, Khadi is not fashion it is a value. Tamil movie superstar Kamal Haasan, who is also someone with an unbridled passion for all things Gandhi, would seem to disagree in nuance because he believes precisely […]
Hailed as the ‘Queen of Spices,’ cardamom is one of the most expensive spices on the planet. The dark seeds found within a light green pod of perennial plants belonging to Zingiberaceae, the ginger family is recognised by its two main forms-- Elettaria cardamomum, the […]
President Joe Biden and Democratic leaders are driving toward a $1.75 trillion agreement that will unlock the votes for the separate infrastructure package — and arm Biden with two momentous legislative victories — as he departs for the world stage later this week. Half its […]
Two Indian American-led companies made Forbes magazine’s annual list of 25 venture-backed startups that are most likely to become unicorns, with valuations of more than $1 billion. Legion Technologies, founded by Sanish Mondkar; and Alchemy, co-founded by Nikil Viswanathan and Joseph Lau are featured in […]
A deal within reach, President Joe Biden and Congress’ top Democrats edged close to sealing their giant domestic legislation, as they worked to scale back the measure and determine how to pay for it. The bill, which was originally proposed at a $3.5 trillion figure […]
Indian American executive Parag Mehta has been appointed head of public policy at JPMorgan Chase & Co., the largest bank in the United States and the fifth-largest bank in the world, according to a press release. Mehta announced Oct. 18 on LinkedIn and social media […]
While most economic indicators deteriorated in 2020, house prices largely defied the pandemic in over 57 of the 60 countries surveyed by the International Monetary Fund. India, Philippines and the UAE bucked the housing bite reported in the IMF Global House Price Index released Monday. […]
Newswise — Despite President Biden’s announcement of round-the-clock operations at key West Coast ports and expanded operations by the likes of Walmart and UPS – plus pledging further federal government efforts -- to alleviate the U.S. supply chain backlog, Maryland Smith supply chain expert Martin Dresner […]
Newswise — In 2003, the Coca-Cola Foundation announced a $1 million donation to the American Association of Pediatric Dentistry, supposedly to “improve child dental health.” Shortly after receiving the gift, the children’s dental group changed its stance on sugary beverages, no longer calling them a […]
India’s Finance Minister Nirmala Sitharaman's meetings with U.S. businesses and institutions continued at a feverish pitch, including talks with two key investors asking them to broaden their world view and look at India for investment. As part of this, Sitharaman on Oct. 16 met Scott […]
India’s economy is expected to grow by 8.3 per cent this fiscal year, according to the World Bank, making it the second-fastest-growing major economy. The Bank’s Regional Economic Update released on Thursday said that after the “deadly second wave” of Covid-19 in India “the pace […]
AAHOA, the nation’s largest hotel owners association, announced the state-by-state economic impact results of the study conducted this year in partnership with Oxford Economics, an international leader in global forecasting and quantitative analysis. The initial report, unveiled at the 2021 AAHOA Convention & Trade Show […]
Reliance Industries Limited (RIL) on Sunday acquired Norwegian-headquartered solar module maker REC Solar Holdings (REC Group) for an enterprise value of $771 million (around Rs 5,800 crore) from China National Bluestar. REC Group is a leading international solar energy company for pioneering innovations. It is known for […]
A soaring stock market propelled the combined wealth of members of the 2021 Forbes list of India's 100 Richest to a record US$775 billion, after adding $257 billion -- a 50 per cent rise -- in the past 12 months. In this bumper year, more […]
‘I think we need regulation to protect people’s private data,’ influential Democrat says in wake of Frances Haugen revelations. Testimony in Congress this week by the whistleblower Frances Haugen should prompt action to implement meaningful oversight of Facebook and other tech giants, the influential California […]
Newswise — Automated vehicles could be made more pedestrian-friendly thanks to new research which could help them predict when people will cross the road. University of Leeds-led scientists investigating how to better understand human behavior in traffic say that neuroscientific theories of how the brain makes decisions […]
The new owners of Air India will be decided in the next few days as the financial bids for India’s flag carrier, AIR INDIA are being scrutinized. The Tata Group, which was the original founders of the now largest air carrier in India, is one […]
A massive leak of financial documents was published by several major news organizations on Sunday that allegedly tie world leaders to secret stores of wealth, including King Abdullah of Jordan, Czech Prime Minister Andrej Babis and associates of Russian President Vladimir Putin. The dump of […]
India and the UAE will aim to ensure speedy normalization of air transport operations between the two countries. Accordingly, the need for normalisation of air transportation, was discussed at the ninth meeting of the ‘UAE-India High Level Joint Task Force on Investments’ held in Dubai […]
India has achieved the milestone of having over 1,000 individuals with net worth of Rs 1,000 crore, said Hurun India. Accordingly, the IIFL Wealth Hurun India Rich List 2021 revealed that 1,007 individuals across 119 cities have a net worth of Rs 1,000 crore. The […]
India’s external debt for the quarter ended June 2021 increased on a year-on-year as well as on sequential basis, official data showed last week. The external debt during the period under review rose to $571.3 billion from $555.2 billion reported for the quarter ended June […]
On the heels of the 16th Hotel Investment Conference — South Asia (HICSA 2021), Marriott International, announced it has signed 22 new hotel agreements in South Asia — comprising India, Bhutan, Bangladesh, Sri Lanka, Maldives and Nepal — in the past 18 months, expecting to […]
Pope Francis condemned greed and the ruthless pursuit of profit in a message sent to a Vatican conference on poverty Sunday (Oct. 3), offering his spiritual take on economic issues to a group of economists and faith leaders that included prominent U.S. activist the Rev. […]
Prime Minister Narendra Modi on Thursday commenced his visit in Washington D.C. with meetings with the top brass of the multinational companies based in the United States, hard-selling his government’s initiatives to draw more foreign investments to revive the Covid-hit economy of India, including the […]
In cities across China, the country’s central bank has begun rolling out the e-renminbi—an all-digital version of its paper currency that can be accessed and accepted by merchants and consumers without an internet connection, credit or even a bank account. Already having conducted more than […]
The 2021 high-level commemoration of the United Nations Day for South-South Cooperation, organized ahead of the opening of the seventy-sixth session of the United Nations General Assembly, provided an opportunity to discuss Southern solidarity in support of a more inclusive, resilient and sustainable future while […]
The cleanliness of Tokyo, the diversity of New York and the social services of Stockholm: Billionaire Marc Lore has outlined his vision for a 5-million-person "new city in America" and appointed a world-famous architect to design it. Now, he just needs somewhere to build it […]
When was the last time you made a payment with dollar bills? Some people still prefer to use cash, perhaps because they like the tactile nature of physical currency or because it provides confidentiality in transactions. But digital payments, made with the swipe of a […]
After working in Sharjah for 15 years, T C Shiju, 42, returned to his home in Thikkodi village, in Kozhikode district of Kerala, about two years ago. He was exploring investment choices, when he found a viable option in his village itself. With an investment […]
In a move that brings relief to thousands of Indian expats, Dubai announced it will allow them to come back even if their residence visas have expired. Also allowed to return were residence visa holders from Pakistan, Nepal, Nigeria, Sri Lanka, and Uganda. Anyone holding […]
The US airline is the first to announce plans to go supersonic, reviving dreams from the late 1960s when British Airways and Air France offered transatlantic flights aboard the Concorde. Only 20 were built during the aircraft’s 24-year operational life. The Overture, which would seat […]
One of the founding principles of cryptocurrency is that it’s decentralized and unregulated. But the U.S. government isn’t too worried about crypto’s founding principles. SEC chair Gary Gensler spoke at the Aspen Security Forum Tuesday, highlighting his view of the SEC’s role in cryptocurrency regulation. […]
The Biden administration moved Thursday (Aug. 19, 2021) to grant 325,000 people who are severely disabled automatic federal student loan forgiveness to the tune of $5.8 billion, setting the stage for reforms to a process that is widely criticized as cumbersome and onerous. “The Department […]
TCS reported that its employee headcount crossed the 500,000-mark in the quarter ending June 2021, even though close to 43,000 people left the IT major.Indian IT major Tata Consultancy Services (TCS) reported an 8.6% attrition in the past year, in its results for the first […]
Democrats have passed a $3.5 trillion framework for bolstering family services, health, and environment programs through the Senate early Aug. 11, advancing President Joe Biden's expansive vision for reshaping federal priorities just hours after handing him a companion triumph on a hefty infrastructure package, according […]
India will soon launch a $1.35 trillion national infrastructure plan that will boost the country’s economy, Prime Minister Narendra Modi announced on August 15 as part of the Independence Day celebrations. Soon after he unfurled the national flag to mark nation's 75th Independence Day at […]
An Indian American tech executive who was the first-ever chief customer officer of HubSpot last year is all set to become the firm’s Chief Executive officer. Yamini Rangan, a longtime San Francisco will be replacing Brian Halligan, who will be stepping down as founding CEO […]
Five Indian American women have been featured on the 2021 Forbes list of America’s Richest Self-made Women, which was released on August 5. The magazine noted that the fortunes of the nation’s richest self-made women soared 31% in the seventh annual ranking to $118 billion, […]
The India Day Parade held on August 8, 2021 by a local group in Hicksville in Long Island, New York, brought to the fore the issue of the Indian Farmers and their ongoing struggle. Hundreds of Indian Overseas Congress USA members joined by others raised […]
Accounting for 34,260 hotels across the United States, Indian Americans owned hotels account for 60 percent of all hotels in the U.S., according to a new study conducted by Asian American Hotel Owners Association (AAHOA) in partnership with Oxford Economics, a global leader in forecasting […]
President Biden announced on August 5th a multistep strategy aimed at rapidly shifting Americans from gasoline-powered cars and trucks toward electric vehicles — a central part of his plan to reduce the pollution that is heating the planet. The new plan targets that half of […]
It's official! Forbes has named Rihanna a billionaire, making her the richest female musician and the second wealthiest woman entertainer in the world. The singer, whose real name is Robyn Fenty, is now second only to Oprah in wealth with an estimated net worth of […]
Tamil Nadu’s capital city Chennai after being the ‘Detroit’ of India for housing several automobile makers is turning out to become a major data center hub. With the central government and Reserve Bank of India insisting on players to have their data stored in India, […]
As the debate continues over the origins of the coronavirus, a heated political battle is taking place over virus research carried out in China using US funds. It's linked to the unproven theory that the virus could have leaked from a lab in Wuhan, the Chinese […]
India’s startup ecosystem, which is widely considered as the third largest globally, has a total of 52,391 recognised entities as of July 14, 2021, Parliament was informed last week. The startups are recognized by Department for Promotion of Industry and Internal Trade (DPIIT) and as […]
Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage biopharmaceutical company focused on enabling normal lives for people with autoimmune diseases, today announced that it has received a $200 million strategic investment from Roivant Sciences. Immunovant intends to use the proceeds from this investment to advance the development […]
“WhileIndian American physicians play a critical role, serving millions of patients in the United States, leading the policies and programs that impact the lives of millions today, it has been a long and arduous journey of struggles and hard work to be on the top […]
Tesla CEO Elon Musk said that its electric vehicle (EV) company wants to launch cars in India, but the country’s import duties on EVs are “highest in the world by far”. Replying to an Indian YouTuber on Twitter, who asked him to launch Tesla cars […]
In A move aimed at diversifying its entertainment business, Amazon India is learnt to be in discussions with multiple players in the film and media distribution segment, including Mumbai-based movie theatre chain Inox Leisure Ltd, for potentially picking up stakes in them, sources told The […]
India is among the top 10 countries in pharma and healthcare sector with exponential growth recorded in the last five years, according to a report by Sagacious IP, a global IP research and consulting firm. The report stated that patents with Indian publication having Indian […]
Bitcoin, the original cryptocurrency, has been on a wild ride since its creation in 2009. Earlier this year, the price of one Bitcoin surged to over $60,000, an eightfold increase in 12 months. Then it fell to half that value in just a few weeks. Values of other […]
Newswise — EVANSTON, Ill., --- One of the keys to a long life may lie in your net worth. In the first wealth and longevity study to incorporate siblings and twin pair data, researchers from Northwestern University analyzed the midlife net worth of adults (mean […]
The crown prince of Abu Dhabi & deputy supreme commander of the UAE Armed Forces, Sheikh Mohamed Bin Zayed Al Nahyan appointed Indian-origin businessman Yusuffali MA as the vice-chairman of Abu Dhabi Chamber of Commerce and Industry (ADCCI). The 65-year-old businessman is the only Indian […]
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 […]
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