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A proposed rule calling for changes to the employer-employee relationship in the H-1B non-immigrant visa programme will no longer be valid as it has not been published in the Federal Register.The Federal Register contains US government agency rules, proposed rules, and public notices.The modification, proposed by the previous administration under Donald Trump, was introduced last week seeking changes to the terms of employees placed at third-party locations and called for the end client to also be responsible for the employee.This would have made it more expensive for services companies to place employees at client sites as employees would have had to be paid at the prevailing wage rates at client organisations.Immigration experts said the rule was unlikely to be revived by the new administration headed by President Joe Biden.However, recent changes introduced by Trump such as higher wage requirements may not be reversed.“The Biden administration has expressed support in … [Read more...] about New H-1B rule not valid, other changes on hold for 60 days

Barring another wave of COVID-19 infections, the worst is over for India's economy and policymakers may soon have more room to support a recovery, the central bank said in its January bulletin released on Thursday."Recent shifts in the macroeconomic landscape have brightened the outlook, with GDP in striking distance of attaining positive territory and inflation easing closer to the target," the Reserve Bank of India (RBI) said in an article on the state of the economy."If these movements sustain, policy space could open up to further support the recovery," it added.The RBI slashed interest rates early last year to cushion the shock from the coronavirus crisis, but has left rates unchanged in recent months, cautious of rising inflation.Recent high frequency indicators suggest that the recovery is getting stronger in its traction and soon the winter of our discontent will be made glorious summerRBI quoting ShakespeareThe RBI expects Asia's third-largest economy to contract by 7.5% in … [Read more...] about ‘Winter of discontent will be made glorious summer’: RBI quotes Shakespeare in a forecast about India economy

New Delhi: JK Tyres on Thursday reported a multi-fold jump in consolidated net profit at INR 230.46 crore in the third quarter ended December 31, 2020 on the back of robust sale of vehicles across segment. The company had posted a consolidated net profit of INR 10.27 crore in the third quarter of last fiscal, the company said in a statement.Meanwhile, consolidated revenue from operations during the period under review also grew by 26% at INR 2,769.28 crore as against INR 2,199.80 crore in the corresponding quarter last fiscal, it added.Commenting on the results, Raghupati Singhania, Chairman and Managing Director, said, “JK Tyre turned out an excellent performance in Q3 - in terms of Sales and Profitability. This was largely driven by the increased demand for Passenger, Commercial vehicle as well as Farm tyres. Continued focus on improvement in operating efficiencies and reduction in interest costs, contributed to improved profitability.” H further said that all nine, JK … [Read more...] about JK Tyre Q3 profit jumps manifold at Rs 230 crore