Cheaper oil, foreign flows a tailwind for rupee

India’s rupee, among Asia’s worst-performing currencies this year, could be the fastest in the region to rally as the world restarts economic activities after the coronavirus pandemic, oil prices weaken…

US Senate approves $484bn more for corona bailout

The US Senate on Tuesday unanimously approved $484 billion in additional coronavirus relief for the US economy and hospitals treating people sickened by the pandemic, sending the measure to the…

‘US to add 75mn barrels of oil to reserve’

“We are filling up our national petroleum reserves… And we are looking to put as much as 75 million barrels into the reserves themselves,” Trump said. US oil prices crashed…

US oil rebounds, back in positive territory

US oil prices rebounded back above zero Tuesday, a day after futures ended in negative territory for the first time as a coronavirus-triggered collapse in demand leaves the world awash…

US weekly jobless claims highlight eco carnage

A record 22 million Americans have sought unemployment benefits over the past month, with millions more filing claims last week, underscoring the deepening economic slump caused by the novel coronavirus…

Rupee settles at all-time low of 76.87 vs dollar

The Indian rupee tanked 43 paise to settle at an all-time low of 76.87 (provisional) against the US dollar on Thursday, amid rising concerns over coronavirus-led economic slowdown. At the…

Relief for Indians as US allows H-1B extension

In a big relief for thousands of stranded Indian professionals in America due to the coronavirus pandemic, the US government has decided to allow applications by H-1B visa holders for…

Indian American co donates 3.4m HCQ tablets

An Indian American-owned pharma firm has pledged to donate 3.4 million Hydroxychloroquine Sulphate tablets to some of the key COVID-19 battleground states, including New York and Louisiana, joining the war…

Over 20% export orders cancelled

Covid-19 has led to exporters bleeding with upwards of 15-20% of the orders getting cancelled and a major amount of funds being locked up, owing to non-payment of dues by…

Aurobindo calls off $900 million Sandoz buy in US

Nearly a year and a half year after Hyderabad-based pharma major Aurobindo Pharma announced its big ticket, $900 million deal to acquire Sandoz Inc’s US generic oral solids and dermatology…

Several companies announce unpaid leave, layoffs

Furloughs, leave without pay, salary cuts, layoffs – that’s the story across sectors as the pandemic deepens the economic crisis. Employees of US conglomerate Honeywell, which has a large engineering…

Trump urged to pause H-1B visa scheme

A US body representing American technology workers has urged President Donald Trump to suspend for this year the H-1B visa programme, the most sought-after among the Indian IT professionals, to…

US receives 2.75 lakh H-1B registrations

A bulk of H-1B cap registrations, received by the US Citizenship and Immigration Services, were for potential beneficiaries (workers) from India. Of the 2.75 lakh registrations received from sponsoring employers…

US reaches H-1B cap of 65,000 for 2021

The US Citizenship and Immigration Services (USCIS) said it has reached the congressionally-mandated 65,000 H-1B cap for the fiscal year 2021 as it received enough requests from corporations and businesses.

US weekly jobless claims surge to record 3.28mn

The number of Americans filing claims for unemployment benefits surged to a record of more than 3 million last week as strict measures to contain the coronavirus pandemic brought the…

US SEC clears Infosys in whistleblower case

In a huge relief to Infosys, the company has received a clean chit from US markets regulator Securities & Exchange Commission (SEC) on the whistleblower complaints that roiled it last…