It is amazing, in this racially enlightened century, that we still see members of the US Congress demonising an ethnic group. Yet that is what happened when the US Senate adopted a provision in its immigration Bill singling out Indian and Indian-American information technology (IT) companies that have operations in the US for punitive restrictions on H-1B work visas. By contrast, the legislation expanded access to the visa to others in the technology industry.Indian and Indian-American (collectively "Indian" below) IT businesses are being scapegoated for abuse of the visa programme - using it for cheap, immobile labour - that actually pervades the entire industry. Dick Durbin, an Illinois Democrat who was one of the "gang of eight" senators who oversaw the Bill, accused Indian businesses of usurping the programme. His Democratic Senate colleague Charles Schumer of New York even used the term "chop shops" in referring to Indian employers.The word "Indian", of course, doesn't appear in t

Norman Matloff: Blaming Infosys in Washington

Business Standard

A group of people claiming to be members of Osmania University Joint Action Committee on Sunday vandalised flower pots and other items at the residence of top Telugu actor Allu Arjun here, demanding justice to the woman who died in 'Pushpa-2' screening stampede.
Chief Minister A Revanth Reddy condemned attack and directed the state Director General of Police and the city police commissioner to be tough in maintaining law and order.
Police in a release said that one of the protesters who arrived at Allu Arjun's house, mounted the compound wall and started throwing tomatoes.
When the security staff objected and persuaded them to get down from the wall, they manhandled the security staff and damaged some flower pots, the release said.
The protesters raised slogans for a while and spoke to the media waiting at the gate, it said.
When they were informed, Jubilee Hills Police reached the place and took six people into custody.
A case has been registered against the six and a few others

Allu Arjun

From a technical standpoint, as Nifty slipped below the pivotal zone of 200 SMA, the next potential support could be seen around the recent swing low around 23200-23100

stock market, Indian stock market, National stock exchange, NSE

Here are the best of Business Standard's opinion pieces for today

Illustration: Ajaya Mohanty

A good rule of thumb is to purchase term cover amounting to 7-10 annual income, plus outstanding liabilities

Life insurance firms adjust term premiums by 5-10% ahead of FY25 end

The National Commission condemned the builder for creating third-party rights during litigation, thereby depriving the buyer of a permanent roof over his head

gavel law cases

After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Foreign Portfolio Investors (FPIs) began the week on a positive note, investing Rs 3,126 crore in equities during the first two trading sessions (December 16-20).
However, the trend reversed in the latter half of the week, with FPIs offloading equities worth over Rs 4,102 crore in the subsequent three sessions. This resulted in an overall net outflow of Rs 976 crore during the week, data from National Securities Depository Limited showed.
Despite this short-term reversal, the broader December trend remains positive. FPIs have infused Rs 21,789 crore into Indian equities so far this month, reflecting continued confidence in India's economic growth potential and its resilient markets.
FPIs adopted a cautious approach due to the US Fed meeting and uncertainty about 

Foreign portfolio investor exodus: Financial sector bears the brunt, FPI

Fundraising via IPOs in India hit another landmark as economic growth, favourable market conditions and improvements in the regulatory framework helped companies raise a record Rs 1.6 lakh crore in 2024, while the pipeline for the next year holds out bigger promise.
This exceptional year not only reflected the confidence of issuers but also highlighted investors' eagerness to seize listing-day gains or back companies with strong long-term growth potential.
The year was marked by Hyundai Motor India's historic IPO, the largest in the country's history, which raised Rs 27,870 crore.
Companies of varying market capitalisations -- large, mid, and small -- tapped into the IPO route in 2024, with the average issue size rising significantly from Rs 867 crore in 2023 to over Rs 1,700 crore in 2024.
The exceptional vibrancy of the IPO market was evident, with December alone seeing at least 15 launches.
"Rising retail participation, strong domestic inflows and active participation by FPIs (

ipo market listing share market

In 2024, NPCI issued 20 third party application approvals. This was much higher than three and four issuances in 2022 and 2023 respectively

NPCI

Record fundraising surpasses the previous high of Rs 9,370 cr in 2023

A 50-year-old doctor from Saudi Arabia, who has been living in Germany since 2006, is the prime suspect in the Christmas market attack in Magdeburg, which killed five people

Germany police

Stock Market Today: The Nifty IT Index is facing mixed sentiments post the recent Accenture earnings, which might uplift IT stocks temporarily. However, a closer look at the charts suggests caution

Photo: Shutterstock

Mohit Joshi, who took the helm of India's No.5 software services exporter in December 2023 wants to increase the share of BFSI in Tech Mahindra's revenue mix by up to 25 per cent by March 2027

Tech Mahindra

In line with the National Education Policy, Delhi University will introduce a one-year postgraduate programme starting in 2026.
The draft proposal will be discussed at the Academic Council meeting scheduled for December 27, according to the agenda to be tabled for the meeting.
Several changes have been incorporated into the plan, but some teachers have criticised the move, alleging it is being rushed for discussion.
DU has already implemented a four-year undergraduate programme, with the third semester currently underway.
Under this framework, students exiting after the first year receive a certificate, those leaving after the second year are awarded a diploma, and those completing three years obtain a degree. Students who complete the fourth year earn a degree with honours.
After three years, students can opt for a two-year PG course, while those completing four years can enrol in the one-year PG programme.
DU is now preparing to implement this system, with separate curricula be

Delhi University, DU

Embattled Canadian Prime Minister Justin Trudeau will shuffle his Cabinet Friday, a senior official familiar with the matter said Thursday.
The official confirmed the shuffle and spoke on condition of anonymity as they were not authorised to speak publicly on the matter.
Trudeau is facing rising discontent over his leadership, and the abrupt departure of his finance minister on Monday could be something he can't recover from.
A rising number of Liberal lawmakers are calling on Trudeau to resign but new Finance Minister Dominic LeBlanc said Thursday Trudeau has full support of his Cabinet."
LeBlanc said he respects the views of Liberal Members of Parliament who want Trudeau to resign.
That's a view they are expressing. The prime minister listened carefully when that view was expressed to him, LeBlanc said. He listened, in some cases responded to specific things that were raised, and he said he would reflect carefully.
LeBlanc said the government will remain focused on work and ...

Justin Trudeau, Canada PM

Haryana Chief Minister Nayab Singh Saini Thursday said the Congress will be completely finished by 2029 if it continues "spreading lies".
"If the Congress continues spreading lies, by 2029, it will be completely finished," Saini said in a scathing attack on the Congress while addressing a public meeting in Pundri in Kaithal district.
He alleged the Congress lacks a clear policy, direction, and leadership, and has resorted to "lies and deception" to secure votes.
Referring to the Lok Sabha elections, the chief minister recalled that Congress leaders started saying that if Narendra Modi were to become prime minister for a third term, the Constitution would be at risk.
He said, however, that there is no threat to the Constitution, and if anyone is in danger, it is the Congress party itself.
Addressing a 'Dhanayad rally' in the Pundri Assembly constituency, Saini highlighted that each region and town in Haryana has its own distinct food culture, citing Pundri's famous "Firni" and Goha

Nayab Singh Saini, Nayab Singh, Nayab

The I-T department probes Rs 7,500 crore spent on lavish weddings, targeting Jaipur planners and fake billing networks linked to foreign destination events and cash transactions

weddings, marriage

Congress calls FIR against Rahul Gandhi over Parliament scuffle a 'badge of honour', alleging BJP's vendetta and diversionary tactics to counter his protest against Amit Shah's Ambedkar remarks

Norman Matloff

Norman Matloff

Norman Matloff

Norman Matloff: Blaming Infosys in Washington

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Vandalism at Allu Arjun's house in Hyderabad, CM Reddy condemns incident

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FPIs pull out Rs 976 crore from Indian equities amid rising dollar

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Healthcare, pharma sectors raise Rs 14,811 crore via IPOs in 2024

Who is the Saudi-born suspect behind Germany Christmas market attack?