B 1B BOMBER
F&B, quick commerce log 40-50% sales jump on T20 final night
India’s nail-biting final match with South Africa on June 29 and the eventual historic victory drove up sales and revenues of food and beverage (F&B) companies as well as quick commerce firms. Merchant checkout network Simpl said it saw a nearly 40% increase in consumer spending on its platform during the match.
US chip dreams will fade without more immigrants
In a rare display of bipartisan cooperation, Democrats and Republicans passed the Chips and Science Act to revitalize US semiconductor manufacturing. However, a failure to address the shortage of skilled workers threatens the industry's growth. Proposed solutions include a specialized visa program and increased support for STEM education.
Indian financial services sector is experiencing a significant upswing: Inventure Growth & Securities’ Kanji B Rita
India's financial services sector is poised for sustained growth. By leveraging the demographic advantage, embracing technological advancements, and prioritizing financial inclusion, a robust and inclusive financial ecosystem can be built, says Inventure Growth’s Kanji B Rita.
Make in India, the next season India planning a Budget day release
India has launched several initiatives to attract investments to the country, presenting itself as an alternative manufacturing destination to companies seeking a China+1 supply chain shift. The IT hardware and mobile phone programmes have seen success. The Centre is hopeful of a similar shift in other sectors as well and there is a view that PLI plus a lower corporate tax rate will offer investors a competitive return on investment.
Amazon & Google suspending green card applications: Why EB-5 visa a perfect fix for H-1B challenges and tech layoffs
The EB-5 visa program provides stability, job creation, and a streamlined immigration process, making it a reliable alternative for those facing uncertainties in the tech industry. With a direct path to green card status and economic growth opportunities, EB-5 offers a secure pathway to permanent residency.
Taxpayers can amend sales return form before GST payment
GST taxpayers can now amend Form GSTR-1 with Form GSTR-1A before tax payment, ensuring accurate GSTR-3B filing. Partners like Abhishek Jain from KPMG appreciate the revision option, anticipating mechanisms like GSTR-2B for credit reconciliation. BDO India's Maulik Manakiwala highlights industry consultation, simplifying GST law and compliance, with exemptions for small taxpayers from GSTR-9/9A filings.
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Moving to the US: Understanding the H-4 visa for dependents of H-1B visa holders
The H-4 visa, issued by USCIS, is for dependents of certain nonimmigrant workers like H-1B and H-1C visa holders. It allows spouses and children to accompany the primary visa holder to the US and study there.
Green Cards for Grads: Trump’s new vote magnet?
Former President Donald Trump's proposal to grant Green Cards to foreign graduates could reshape international student dynamics and immigration policies, impacting countries like Canada, Australia, and the UK. However, uncertainties remain regarding the feasibility and implications of this initiative.
Taiwan to receive 1,700 TOW 2B anti-tank missiles from US by year-end
Taiwan is set to receive all 1,700 TOW 2B anti-tank missiles and 100 launchers from the US by the end of this year, following a two-year delay. The delay was due to the weapons initially failing to meet US Army standards. However, after passing all required tests, delivery is now expected before year-end. These missiles are part of three major arms packages purchased from the US, including F-16V fighter jets and AGM-154 air-to-ground missile systems. The TOW 2B missiles target the tops of armored vehicles, enhancing Taiwan's defensive capabilities.
H-1B and L-1 visa workers may cost US employers thousands of dollars more
Employers may soon have to pay additional fees to extend work visas for foreign employees under a new DHS proposal. The proposal includes a $4,000 fee for H-1B visa extensions and a $4,500 fee for L-1 visa extensions.
H-1B visa holders who moved to Canada on special work permits can now sponsor dependents
Family members of H-1B visa holders can apply for TRVs and study permits through the IRCC Portal. The Canadian government launched a new work permit program for US H-1B visa holders in 2023, offering opportunities for work and potential residency. The initiative saw overwhelming interest, with all 10,000 permits quickly claimed.
Manufacturing theme offers a diversified portfolio. Anthony Heredia explains how
We believe the Production Linked incentive (PLI) along with the need for global corporates to de-risk their China play offers a secular opportunity that is likely to pan out over the next 3-5-7 years. Government is also monitoring the PLI implementation, making necessary changes if needed to resolve any problem areas as well as adding more products covered under PLI.
US flies B-1B bomber for first precision bomb drill in 7 years as tensions simmer with North Korea
The United States conducted a precision-guided bombing drill with South Korea, flying a B-1B bomber over the Korean Peninsula for the first time in seven years. This exercise, seen as a show of force against North Korea, included other advanced U.S. and South Korean fighter jets. The drill aimed to demonstrate the U.S. security commitment to South Korea and strengthen joint defense posture. North Korea has recently engaged in provocative actions, including launching rockets and floating balloons carrying trash toward South Korea.
US, South Korea conduct joint bombing drills
The United States flew a B-1B bomber over the Korean Peninsula for the first joint bombing drills with South Korea in seven years, amidst heightened tensions from North Korea's provocations. The US bomber, escorted by South Korean F-15K jets, dropped Joint Direct Attack Munitions during the exercise. South Korea suspended a 2018 inter-Korean military pact and resumed military activities along the demarcation line. The drills aim to reinforce the US extended deterrence commitment and combined defense posture against North Korea's threats.
US Air Force releases first images of 'B- 21 Raider'. Know about world's most dangerous nuclear stealth bomber
The stealth bomber 'B- 21 Raider' was unveiled last year. The bomber was pictured during ongoing ground and air testing at Edwards Air Force Base in California.
Beyond the clutter: India-US ties transcend ongoing differences
India explained why oil imports from Moscow are necessary to preserve global oil market stability, similarly Chabahar deal is also for regional stability which is valued by the US.
Is it a good idea for laid off H-1B workers to switch to a US tourist visa, and back again?
When laid-off H-1B workers consider transitioning to B-1/B-2 visitor status for job searching, they gain valuable time and a streamlined process back to H-1B, endorsed by USCIS. This strategic move offers a safety net and opportunity for a successful career transition in the U.S.
Visa fee hike hits IT cos; Airport cab fares set to rise
Happy Friday! The hike in H-1B visa fee will hurt IT service companies severely, experts have warned. This and more in today’s ETtech Morning Dispatch.
Steep H-1B fee hike to burn a big hole in IT companies pockets
The steep hike in US H-1B visa fees could spell bad news for Indian IT service providers and dent their pockets significantly, experts and industry insiders have warned.
Netflix movies to watch in May. Full list, check dates
Netflix movies are leaving the OTT streaming platform once the month of May is over. We have full list.
Worried about layoffs? 9 things to know if you are an H-1B worker in the US
For almost a year, foreign tech workers in the US have faced an unpredictable landscape. Giants like Google, Tesla, Walmart, and others have announced extensive layoffs, dimming the aspirations of numerous immigrants. Amidst the struggle to find alternatives, here are nine things every H-1B visa holder should know. Also See| H-1B visa application process: A step by step guide
What is 'Garden Leave' & does the 60-day H-1B visa grace period apply to such situations?
The termination of H-1B workers can be complex, especially when garden leave is involved. The ambiguity arises from the period between formal notice and payment cessation. While USCIS guidelines lean towards the formal notice date for termination, discretion is allowed based on individual circumstances.
Ankush Aggarwal returns to Ola Cabs; declining H-1B visas for IT staff
Happy Tuesday! Ola Cabs founder Bhavish Aggarwal’s brother Ankush is back at the ride-hailing business. More on this in today’s ETtech Morning Dispatch.
Indian IT’s reliance on H-1B dropped 56% over past 8 years
Indian IT companies’ reliance on H-1B visas has fallen over the years as they have ramped up local hiring in the US. High denial rates during the Trump administration along with tightening of the immigration regime have also decreased visa usage, experts said.
Green career path looks promising but remember that it is a nascent industry
The green job sector is rapidly expanding with numerous growth opportunities, but also presents challenges due to its nascent stage. Individuals must navigate issues like evolving landscapes, skill gaps, and market fluctuations. Strategies include pursuing relevant education, upskilling, leveraging AI, networking, and remaining adaptable to excel in this dynamic industry.
Switching to green careers: A quick guide to skills and strategies for a smooth transition
Rising demand for sustainability roles prompts a shift towards green careers. Industry experts emphasize understanding required skills and pay structures. Key roles include wind turbine technicians, ESG analysts, and energy specialists. Acquiring skills like carbon accounting and climate action planning is crucial for success.
Former Google techie offers survival tips for H-1B visa holders amid layoffs
A former Google software engineer, who is a Chinese national on an H-1B visa, is sharing advice on LinkedIn for fellow tech immigrants on how to navigate job loss. Having experienced a layoff at Amazon previously and sensing potential job cuts at Google, he decided to take proactive steps to prepare for the possibility of being laid off. He emphasized the unique challenges faced by H-1B visa holders during layoffs, where securing a new sponsoring employer is crucial for maintaining legal status in the country.
H-1B visa applications drop by almost 40% as US tightens rules for skilled workers
H-1B visa lottery applications dropped 40% due to measures against fraud. Rules restrict multiple entries, ensuring fairness. Major tech firms employ visa holders, but critics raise concerns about wages and labor protections.
Visa revoked due to employer fraud? H-1B holders can now take legal action
A US district court has ruled in favor of H-1B visa holders, affirming their right to legal action if their visa is revoked due to employer fraud via multiple filings. Ten Indian citizens filed the lawsuit after their visas were cancelled for similar reasons. The court recognized the beneficiaries' right to notification before revocation, addressing a procedural violation by the USCIS.
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