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 […]
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 […]
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 […]
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 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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
"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 […]
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 […]
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 […]
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 […]
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 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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
The U.S. Chamber of Commerce is beginning one of its most consequential transitions in decades. In mid-March, CEO Tom Donohue will step down after 24 years leading the largest and most impactful business advocacy organization in the world, which serves as the voice for thousands of […]
The proposed new labor codes could provide companies with the flexibility of four working days in a week, even as the working hours limit of 48 hours for a week will remain "sacrosanct", Labor and Employment Secretary Apurva Chandra said As the government finalizes the […]
Living paycheck to paycheck is exhausting. As soon as your paycheck comes in, you have to spend it all on necessities like rent, utilities, insurance, and paying off debt. There’s usually little, if anything, left for savings or recreational activities. Then, something even worse […]
For people who've been without health insurance during the pandemic, relief is in sight. In January, President Biden signed an executive order to open up the federal health insurance marketplace for three months starting Monday so uninsured people can buy a plan and those who want to change their […]
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