Category: Beyond

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Beyond

H-1B hiring slows as US firms cut back

International students in the United States are finding it increasingly difficult to secure jobs as American employers pull back from sponsoring work visas.

The slowdown follows a series of policy changes introduced under President Donald Trump’s administration, including a new $100,000 fee for companies applying for H-1B visas.

The H-1B visa program, a key route for skilled foreign graduates to stay and work in the US, has seen a steep contraction in hiring. And, the technology sector seems to be hit the most with Tech giants such as Amazon, Microsoft and Meta being among those most affected.

Business groups, including the US Chamber of Commerce, have challenged the new rules in court, arguing they are unlawful and could damage industries dependent on global talent.

Although authorities clarified that recent graduates and current student visa holders will be exempt from the fee, the uncertainty surrounding implementation has prompted many firms to delay or cancel international hiring.

According to date from the US Citizenship and Immigration Services, Indian nationals made up over 70% of H-1B visa recipients in 2024, followed by applicants from China and the Philippines.

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US Visa rules toughen for health cases

New guidelines of US Visa instructs officers to assess applicants’ long-term health costs and financial capacity, sparking concerns among immigration advocates.

The United States has introduced new visa screening guidelines that could see applicants denied entry based on medical conditions such as obesity, diabetes and heart disease.

Under the policy, it will be evaluated whether applicants can afford potential medical treatment during their stay in the country. The rules will be applicable to all visa categories but it is likely to impact more to applicants seeking permanent residency.

The guidelines also extend scrutiny to family members, including children, elderly dependents and dependents with disabilities or chronic illnesses which could prevent the main applicant from maintaining employment.

The move has drawn criticism from immigrant rights advocates, who warn that it may unfairly penalize individuals with chronic conditions and reinforce biases in the visa process.

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Louvre $102M Heist Linked to Weak Password

The museum’s security system was breached using the password ‘Louvre’. The audacious robbery took only seven minutes. Investigators have arrested four suspects, but the jewels remain missing. The Apollo Gallery is now closed for security upgrades.

Weeks after the $102 million daylight robbery at Paris’s Louvre Museum, investigators have uncovered that the main security system was breached using the password ‘Louvre’.

According to reports from France’s National Cybersecurity Agency (ANSSI), the glaring flaw came to light during an ongoing probe into the October 19 heist.

A 2014 cybersecurity audit had already identified the same weakness in Louvre’s digital infrastructure nearly a decade ago but the museum failed to act. The agency had then notified that the surveillance and alarm systems were still running on 20-year-old software and had cautioned that an intruder could exploit these vulnerabilities.

These findings have triggered outrage and embarrassment for French authorities.

The dramatic heist went down in broad daylight as a four-man crew, dressed in construction vests and motorcycle helmets, used a cherry picker to reach the museum’s Apollo Gallery.

In seven minutes, they smashed glass display cases with chainsaws and made off with eight priceless gems, including a sapphire diadem, necklace, and single earring once belonging to 19th-century Queens Marie-Amelie and Hortense.

The thieves then went down using the same cherry picker, attempted to torch the vehicle and fled on two scooters parked nearby.

Also Read: India’s Top Philanthropists Give ₹10,380 Cr

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China Exports Down 1.1%, US Shipments Dips 25%

China’s exports fell 1.1% in October compared with the same month last year, marking the weakest monthly growth since February. The decline was driven mainly by a 25% drop in shipments to the United States, affected by ongoing trade tensions and earlier tariff-related front-loading.

Imports into China also slowed, rising only 1% in October, down from 7.4% in September, reflecting weaker domestic demand. Analysts point to a slowing property sector and cautious consumer spending as contributing factors.

Despite efforts to diversify trade towards Europe, Southeast Asia, and Africa, the drop in US-bound exports has had a significant impact. Some optimism remains as recent talks between China and the US could ease tariffs, potentially supporting exports in the coming months.

Overall, China’s trade slowdown highlights the challenges posed by external demand weakness and the importance of boosting domestic consumption to sustain growth.

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Gold above ₹1.20 lakh, Silver near ₹1.48 lakh

Gold and silver prices rose in early trade on Friday, supported by a softer US dollar and improved global sentiment.

On MCX, gold December futures climbed 0.27% to ₹1,20,939 per 10 g, while silver gained 0.6% to ₹1,47,938 per kg.

Internationally, easing Treasury yields and rate-cut hopes boosted safe-haven demand.

Analysts see gold facing resistance near ₹1,21,200 and support around ₹1,19,400, while silver is likely to trade between ₹1,46,000 and ₹1,49,400.

A decisive move above ₹1,21,750 for gold or ₹1,50,000 for silver may trigger further upside.

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Canada Opens Fast-Track for H-1B Holders

In a bid to attract skilled workers hit by recent US visa policy and fee changes, the Canadian government has announced a new accelerated immigration pathway for professionals holding US H-1B visa holders.

As part of a broader plan to strengthen its innovation-driven economy and fill key labour shortages outlined in the 2025 Federal Budget, the program will offer opportunities to transition expertise to Canada’s fast-growing sectors, including healthcare, technology and scientific research.

As part of its International Talent Attraction Strategy, Canada will roll out a special initiative to hire more than 1,000 global researchers, backed by CA $1.7 billion in funding.

The investment aims to help Canadian universities and research institutions bring in top international talent and accelerate advancements in innovation and discovery.

The budget also proposes setting up a Foreign Credential Recognition Action Fund, with CA $97 million allocated over five years starting 2026–27. Managed by Employment and Social Development Canada, the fund will help streamline and modernize the recognition process for foreign-trained professionals, with a focus on healthcare and construction, where demand for qualified workers remains high.

Prime Minister Mark Carney emphasized that attracting and retaining top global talent is essential for maintaining Canada’s competitive edge. The new measures reflect a shift toward strategic immigration policies that align with regional and sectoral needs.

These steps also complement ongoing efforts to improve Canada’s Temporary Foreign Worker Program and create smoother pathways to permanent residency for skilled professionals.

With the new fast-track visa route and expanded research funding, Ottawa aims to position Canada as a global hub for innovation, talent, and opportunity, strengthening its role in the evolving international labour and technology landscape.

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Goyal in New Zealand for FTA Talks

Indian Commerce and Industry Minister Piyush Goyal has arrived in New Zealand to review and advance the ongoing free trade agreement (FTA) talks between the two countries. This marks the fourth round of negotiations since the FTA talks officially began in March 2025.

During his visit, Goyal is meeting New Zealand officials and industry leaders to discuss progress and explore new opportunities for trade and investment. “I am delighted to be in New Zealand to review the progress of our FTA negotiations and explore ways to strengthen economic ties,” he said.

India’s trade with New Zealand reached about USD 1.3 billion in 2024–25, a growth of nearly 49 percent from the previous year. India mainly exports clothing, textiles, medicines, petroleum products, machinery, automobiles, steel, electronics, seafood, diamonds, and basmati rice. New Zealand’s exports to India include agricultural products, apples, kiwifruit, meat, milk products, coal, timber, and scrap metals.

The FTA aims to create a framework that boosts trade, investment, and technology exchange while supporting jobs and economic growth. Goyal’s visit highlights both political and business engagement, with a focus on building partnerships that benefit both nations.

As talks progress, both countries aim to finalise an agreement that strengthens economic cooperation and opens new opportunities for businesses and investors.

Also Read: India Nears Top Three Globally, FM Sitharaman

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China lifts 24% US tariff, keeps 10%

China will suspend its 24% tariff on a wide range of US goods for one year, marking a cautious step toward easing trade tensions. However, it will continue to impose a 10% duty on certain products, keeping some restrictions in place.

The decision follows a high-profile meeting between President Xi Jinping and US President Donald Trump, indicating a possible thaw in the long-standing trade dispute.

US agricultural exports may benefit, as tariffs of up to 15% on some farm products will be lifted starting November 10. While the suspension of the higher tariff provides relief for American businesses, China’s decision to maintain certain duties signals that a full resolution remains a work in progress.

This step represents a measured approach from both sides, balancing economic interests with ongoing diplomatic negotiations.

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Gold Rises ₹300, Silver Flat at ₹89,500

Gold prices gained on November 5, tracking a recovery in international bullion markets as the US dollar softened and investors bet on stable Federal Reserve rates. Spot gold rose to about $2,365 per ounce, while on the Multi Commodity Exchange (MCX), domestic futures climbed by ₹200–₹300 per 10 grams.

In India, 24-carat gold averaged ₹73,000 per 10 grams and 22-carat around ₹67,000 across major metros including Delhi, Mumbai, and Bengaluru. The uptrend came after a brief dip last week, as safe-haven buying strengthened amid geopolitical tensions and steady treasury yields.

Silver, however, remained unchanged, hovering near $27.6 per ounce globally and ₹89,500 per kg in Indian markets. Analysts said muted industrial demand and investor caution ahead of key US data kept silver’s movement limited.

Experts expect gold to trade in a narrow band in the near term, with festive demand in India and global uncertainties lending support. As traders await fresh cues from inflation and employment data, bullion may continue to hold its current gains through the week.

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Bullion Steady, Gold at ₹12,333, Silver Near ₹1.54 Lakh

Gold and silver prices remained firm on Tuesday, November 4, across major Indian cities amid steady festive buying and muted global market movements.

In Delhi, 24-carat gold traded at ₹12,333 per gram and 22-carat at ₹11,304, while Mumbai saw ₹12,318 and ₹11,291, respectively.

Silver hovered around ₹154 per gram, or ₹1.54 lakh per kg. Analysts said stable demand and dollar strength kept bullion prices range-bound, with little volatility expected in the near term.