India thinking big and moving big on energy: US Prof to Congress
The Dollar Business Bureau To catch up rapidly in development, India is “thinking big and moving big” as the country lags behind its neighbour China, by providing huge opportunities to a nation like the US, a University of Maryland Professor told the American lawmakers. “India is moving quite quickly in a number of areas as well, again, on renewable energy, which is a kind of golden thread running through this hearing. India is thinking big and moving big,” said Robert Orr, Professor and Dean, University of Maryland, School of Public Policy, at a Congressional hearing. Replying to a question, he said that India has big goals on wind and solar. The country is not only meeting them but also surpassing them. These areas ...
Cognizant plans to hire more Americans this year
The Dollar Business Bureau Software major Cognizant Technology Solutions said it would boost hiring in the US, a step that comes amidst President Donald Trump’s hard stance on curbing H1-B visa rules. The company registered a higher-than-expected profit in the last quarter. The New Jersey-based company gets over 75% of its revenues from North America and depends majorly on workers on H1-B visa for providing IT services to its clients. H1-B visa is a non-immigrant visa which allows US firms to temporarily hire foreign workers. Cognizant has around 260,000 employees, a majority of which are based in India. President Trump has ordered the review of the visa programme that brings highly-skilled international workers into the US, potentially impacting the hiring plans of tech companies and ...
Trump softens stand on NAFTA, agrees to renegotiate
The Dollar Business Bureau In a recent telephonic conversation with the Canadian Prime Minister and Mexican President, Trump agreed to renegotiate NAFTA instead of scrapping the trilateral trade deal. On his twitter account, he stated, “I received calls from the President of Mexico and the Prime Minister of Canada asking to renegotiate NAFTA rather than terminate. I agreed – subject to the fact that if we do not reach a fair deal for all, we will then terminate NAFTA. Relationships are good-deal very possible!” Many on either side of the border are breathing a sigh of relief as Trump softens his stance on termination of the deal which is more than two decades old. However, Trump continues to stress that the deal was ...
Indian Customs rescinds soda ash anti-dumping duty on 9 countries
The Dollar Business Bureau The CBEC in its recent notification no’s 55 and 56 issued on Dec 21 has rescinded the anti-dumping duty imposed on imports of soda ash from 9 countries. This step has been taken though the final findings of the investigation were challenged in the High Court of Gujarat and the court is yet to give its final verdict. Soda ash is generally used in commercial, domestic and laboratory uses or more simply used in the production of various types of glass (flat glass, container special packaging glass, fibreglass for insulation and other glass products) alkali products, detergents and soaps. India imports soda ash from China (P.R), EU, Kenya, Pakistan, Iran, Ukraine, U.S.A, Turkey and Russia. In its notification the CBEC ...
Remittances to India projected to increase by 2.5% in 2015:WB
Source: PTI Remittances to India are projected to increase by 2.5% this year, the World Bank has said in its latest report, even as weak economies in Europe, especially Russia, are slowing the growth of remittance flows. In 2014, India is estimated to have received remittances worth $70.3 billion. In its latest report, the World Bank said remittances to India, South Asia's largest economy and the world's largest remittance recipient, are projected to increase by 2.5% in 2015, below the regional average but well above the 0.6% increase in 2014. "Stronger remittance growth in India reflects improving economic prospects in the United States and continued fiscally-supported economic resilience in the GCC (Gulf Cooperation Council)," the World Bank said. According to the Reserve ...
