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Shares in Chinese technology giant Xiaomi collapsed more than 11 per cent in Hong Kong trade on Friday after the US put it on a blacklist. The aim is to ban Americans from investing in it as the Trump administration ramps up its battle with Beijing.

The Delhi high court Wednesday sought response of Kishore Biyani-led Future Retail Ltd (FRL) on Amazon’s plea challenging the prima facie observations by a single judge that the US e-commerce giant’s attempt to control the Indian entity was violative of FEMA and FDI rules.

Boeing Co will pay more than $2.5 billion in fines and compensation after reaching a settlement with the US department of justice over two plane crashes that killed a total of 346 people and led to the grounding of its 737 MAX jetliner.

Digital services taxes (DSTs) adopted by India, Italy and Turkey discriminate against US companies, are inconsistent with the currently prevailing principles of international tax and burden or restrict US companies. These are the findings of the office of the US Trade Representative (USTR) that were recently made public, pursuant to an investigation under The Trade … Continue reading India’s equalisation levy: Will it ignite a new trade war?

The Trump administration is considering adding tech giants Alibaba and Tencent to a blacklist of firms allegedly owned or controlled by the Chinese military, two people familiar with the matter said on Wednesday. Defense department officials, who oversee the blacklist designations, have not yet finalized plans and are also discussing adding other Chinese firms to … Continue reading US may add Alibaba, Tencent to investment ban list

China’s Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a US dollar-denominated bond this month, four people with knowledge of the matter said, amid regulatory scrutiny of co-founder Jack Ma’s empire.

China will take “necessary measures” to safeguard the interests of its companies after the New York Stock Exchange began delisting three Chinese telecom firms accused of having military ties, the country’s commerce ministry said on Saturday.

Vaccine maker Bharat Biotech has inked a binding letter of intent (LoI) with US-based biopharmaceutical player Ocugen Inc for co-developing India’s first indigenous Covid-19 vaccine candidate Covaxin for the US market.

A group of 60 US lawmakers have urged President-elect Joe Biden to revoke a Trump administration policy and extend the validity of work authorisation documents for H4 visa holders, who are spouses of those possessing H-1B visas, with majority being highly-skilled Indian women.

The United States is set to add dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist on Friday, two people familiar with the matter told Reuters on Thursday.

The US has for the third time placed India on its currency manipulator watch list after the Reserve Bank of India’s relentless dollar purchase that resulted in forex reserves rising by $100 billion this fiscal.

The US Senate has unanimously passed a bill (referred to as S.386) or the ‘Fairness for High-Skilled Immigrants Act’, raising the hopes of thousands of Indians stuck for decades in a green card backlog. The bill eliminates the 7% country cap for employment-based immigrant visas (green cards), which will help ease the massive backlog faced … Continue reading US passes S.386 bill, eliminates cap for green cards

The US issues up to 85,000 H-1B visas each year in sectors including technology, engineering and medicine. Usually, they’re issued for three years and renewable. Most of the nearly 600,000 H-1B visa holders in the US are from India and China.

HSBC Holdings Plc is considering a complete exit from retail banking in the United States after narrowing the options for how to improve performance at its struggling North America business, the Financial Times reported on Saturday. The bank’s senior management aim to present the plan to the board in the coming weeks, the FT reported, … Continue reading HSBC considers exit from US retail banking: Report

US President-elect Joe Biden has said that he wants to make sure that China plays by the rules and announced that his administration will rejoin the World Health Organisation. In April, President Donald Trump announced that the US would withdraw from the WHO, accusing the UN organisation for failing to oversee the onset of the … Continue reading China has to play by rules; US to rejoin WHO: Biden

After nearly two years of scrutiny, corporate upheaval and a standoff with global regulators, Boeing Co won approval on Wednesday from the US Federal Aviation Administration (FAA) to fly its 737 MAX jet again after two fatal disasters.

The American Federal Aviation Administration (FAA) may have allowed the Boeing 737 Max to fly passengers again after these jets were grounded for 20 months following two deadly crashes that killed 346 people, however it will be some time before India gives its nod for this aircraft to fly here. “We will study (the FAA … Continue reading India to examine US approval for B737 Max to fly again

Indian students contributed $7.6 billion to the US economy in 2019-20, even though there was a 4.4% drop in the total number of Indian students. China remained the largest source of international students in the US, with the number of Chinese students increasing for the 16th consecutive year. There were over 372,000 Chinese students in … Continue reading Indian students contributed $7.6bn to US economy

Pfizer Inc and its group companies filed a petition in a US court against Aurobindo Pharma Ltd and Dr Reddy’s Laboratories alleging that the Indian drug makers were planning separately to come out with generic versions of its blockbuster multi-billion dollar drug Ibrance (palbociclib) before expiration of its patent.

The United States of America witnessed a historic drop in the new students enrolled at its higher education campuses as a fallout of the Covid-19 pandemic. A 2020 snapshot survey revealed that fresh international student enrolment, whether for in-person classes or those studying online from their home countries, has decreased by 43% for the Fall … Continue reading US univs see historic drop in int’l enrolments

While Marksans Pharma is recalling diabetes drug, Zydus Pharmaceuticals (USA) is recalling drug which is used to reduce stomach acid. Similarly, Aurobindo Pharma (USA) is recalling pain relieving drug, while Jubilant Cadista is recalling a medication used to treat schizophrenia.

The US government announced it would delay enforcement of a ban on TikTok, saying it would comply with a court order in favor of the Chinese-owned social media sensation. The hit shortform video app was forbidden based on national security concerns voiced by US officials, but the Commerce Department said it was holding off due … Continue reading TikTok gets reprieve as US holds off on enforcing ban

Wipro’s new CEO Thierry Delaporte is overhauling the organisational structure — reducing the number of business units, putting the focus on geographies instead of industry verticals, giving more powers to P&L owners, and defining the ownership of performance metrics.

For all the bonhomie between Prime Minister Narendra Modi and Donald Trump, one area where India and the US failed to bridge the rift was trade. Experts believe that life isn’t going to change drastically for India under Joe Biden. After all, his stance on business and trade is similar to the current position.