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US Department of State has announced a significant update to the Exchange Visitor Skills List, effective December 9, 2024, eliminating the two-year home residency requirement for J-1 visa holders from 34 additional countries, including India, China, South Korea, Saudi Arabia, and the UAE. However, the update does not apply to J-1 holders bound by government funding or participation in graduate medical education programs, which continue to have restrictions. This marks the first major revision of the list in 15 years and aims to enhance opportunities for global talent retention in the United States.

Arvind Panagariya said on Thursday. He also cautioned that one has to be careful about investments from potentially «unfriendly countries» that might damage the interest of the nation. However, developed countries are accepting investments from China in any particular sector, India can also welcome such investments. «If the US is taking investment from China, if Germany is taking, I would (be) open to their investment. The activities from which you want to exclude are relatively few because I don't see other countries restricting Chinese investment in large number of sectors,» Panagariya said at the CII Global Economic Policy Forum 2024.

steel ministry has proposed that over a third of the total government steel procurement will be of low carbon variant. This 'Green steel' is defined as steel produced with emissions lower than 2.2 tonnes of carbon dioxide per tonne of finished steel. A star-rated grading system will also measure the greenness of steel, with five-star rating for emission intensity lower than 1.6 tonnes of CO2 equivalent per tonne of finished steel. According to a steel ministry presentation, up to 37% of all future steel procurement will be earmarked for green steel as an incentive to lower carbon intensity. A definition for Green steel was also announced by the Steel Ministry on Thursday. Speaking at an event to the mark the same, Union Steel Minister, H D Kumaraswamy said, «The green steel taxonomy will help set a benchmark for adopting global best practices and help India emerge as global leader in green steel production.»

Indian Sellers Collective, an umbrella body of trade associations and sellers across the country, has urged the finance minister and the GST Council not to accept some of GST rate rationalisation suggestions, including the proposal for inclusion of a special rate of 35 per cent on some products. The sellers body is of the view that a fifth GST slab of 35 per cent on demerit goods such as aerated beverages, cigarettes and tobacco, and pricing-based rate structure will materially and fundamentally alter the country's GST framework with devastating outcomes. These recommendations violate both the letter and the spirit that it will be a 'good and simple tax', Indian Sellers Collective said in a statement on Thursday ahead of the 55th GST Council meeting to be held on December 21, 2024 at Jaisalmer, Rajasthan. «On the contrary, it will hurt the profit margins of the retailers, lead to compliance nightmares and fuel a parallel economy. This move will primarily benefit Chinese producers who dominate the market of cheap products at the cost of Indian producers,» it said.

autonomous driving technologies, Bloomberg News reported on Wednesday. Over the past couple of years, it has expanded in the country to now have close to 600 people in Beijing, and it recently opened a new office in the Zhongguancun tech hub, the report said, citing people familiar with the matter. The artificial intelligence chipmaker employed about 29,600 people in 36 countries at the end of fiscal year 2024, according to a filing published by Nvidia in February.

Subscribe to enjoy similar stories. During Donald Trump ’s first administration, China learned that it couldn’t match the much larger U.S. economy’s tit-for-tat when it came to tariffs, and quickly found other ways to try to inflict pain—often by borrowing from his playbook.

Indian rupee declined to its all-time low on Thursday, pressured by dollar bids in the non-deliverable forwards (NDF) market and from importers while intervention by the central bank kept a lid on losses, traders said. The rupee weakened to a low of 84.88 to the U.S. dollar, down 0.04% on the day. The currency was quoted at 84.8750 at 10:00 a.m. IST.

Growing demand for the lithium used in batteries for electric vehicles and energy storage has created a new frontier for mining in Nigeria

Growing demand for the lithium used in batteries for electric vehicles and energy storage has created a new frontier for mining in Nigeria

TikTok and ByteDance on Monday filed the emergency motion with the U.S. Court of Appeals for the District of Columbia pending a review by the US Supreme Court. They warned that without court action the law will «shut down TikTok — one of the nation's most popular speech platforms — for its more than 170 million domestic monthly users.» The Justice Department said the court should not delay the law's effective date arguing «continued Chinese control of the TikTok application poses a continuing threat to national security.»

Supreme Court is set to hear a series of Public Interest Litigations (PILs) today, challenging the validity of specific sections of the Places of Worship (Special Provisions) Act, 1991. This law prohibits filing lawsuits to reclaim or alter the character of places of worship as they stood on August 15, 1947. The matter will be taken up by a three-judge bench comprising Chief Justice Sanjiv Khanna and Justices Sanjay Kumar and K V Viswanathan.

Rebel Foods, a startup that specializes in online-only restaurants, unveiled a $210 million funding round, ahead of an initial public offering the company is seeking to pull off by 2026. Singapore’s Temasek Holdings Pte led the fundraising, while Evolvence, an existing investor, will also participate, the company said in a statement. The Series G round includes the sale of new and existing stock, allowing current shareholders to sell some of their holdings. The Mumbai-based company is now valued at $1.4 billion.

Donald Trump on Wednesday said he was picking Kari Lake, a former news anchor and a hardline Republican who failed to win an Arizona Senate seat last month, to be the director of U.S. government-funded media outlet Voice of America. Trump, in a post on his Truth Social site, said Lake will «ensure that the American values of Freedom and Liberty are broadcast around the World FAIRLY and ACCURATELY, unlike the lies spread by the Fake News Media.» Lake, a strong Trump supporter who has echoed his false claims about fraud at the 2020 election, also lost the governor's race in swing state Arizona in 2022 and was previously an anchor at Phoenix-based Fox 10.

Foreign exchange markets moved on the news, with the yuan falling about 0.3% to 7.2803 per dollar and China-sensitive currencies such as the South Korean won and New Zealand dollar slipping.

Embattled Japanese automaker Nissan has tapped Jeremy Papin as its chief operating officer in a major management reshuffle billed as key to a turnaround

Subscribe to enjoy similar stories. The Centre is working on a $3 billion package for the electronics industry to encourage private sector research and development (R&D) and create leading brands, two people aware of the development said. A task force set up by the ministry of electronics and information technology (Meity) six months ago studied the viability and market-readiness of such a scheme and submitted actionable points, the people said on the condition of anonymity.

The Supreme Court is allowing a class-action lawsuit that accuses Nvidia of misleading investors about its past dependence on selling computer chips for the mining of volatile cryptocurrency to proceed

TikTok has challenged a Canadian government order to shut down the Chinese video-sharing app’s business operations in the country that was imposed over national security concerns

Here’s the Bank of Canada’s official statement for its rate decision:

Narendra Modi and President Xi Jinping in Russia in October «signified a new beginning» of India-China relations, a senior minister of the ruling CPC has said. Liu Jianchao, Minister of the International Department of the Chinese Communist Party of China (CPC) was referring to the Modi-Jinping meeting at Kazan in Russia on the sidelines of the BRICS summit in Russia while speaking with the Indian envoy to China, Pradeep Kumar Rawat, on Tuesday, official media said on Wednesday. The restarting of China-India relations meets the fundamental interests of the 2.8 billion people of the two countries, corresponds to the common expectations of the Global South and is also in line with the correct direction of history, he said.