NRI ( Page 60 of 83 )

Jaitley’s Budget Energising NRI Investors March 02, 2015 12:28

Right from the change in government, NRIs and Foreign Investors were given higher importance in the investment sector. After resolving the issue of PIO cards, the government has provided sufficient room for the Indian Diaspora to invest in industries, and other manufacturing sectors. The Union budget for the fiscal year 2015-2016, prominently encouraging the foreign investors, especially Indians from abroad. The ease in taxation, stress on implementing the GST, reduction in corporate tax, lowered taxation for the products manufactured locally (in India) are very positive for bringing huge capital from NRIs. As per the budget notes the restrictions in investing by NRIs in real estate, industries were limited and providing higher room from the government. The government’s target of achieving double digit growth can be realized in few years if the norms of starting ventures are eased further. -Kannamsai

Work Permit to Spouses of US H-1B Visa Holders},{Work Permit to Spouses of US H-1B Visa Holders

Work Permit to Spouses of US H-1B Visa Holders February 25, 2015 11:10

A good news from the United States Citizenship and Immigration Services (USCIS), that they will begin accepting applications from the spouses of H-1B visa holders from May 26th. The decision will benefit thousands of qualified and talented professional Indian spouses who were denied to work earlier. Due to the restrictions prescribed under existing laws, they were unable to work for any organization in US. Once the spouse got approval for his or her 'Form I-765' by the USCIS, H-4 dependent spouse will receive an Employment Authorization Card. The Employment Authorization Card holder can start working in US thereafter. According to the USCIS estimates, the eligible spouses will be around 179,600 in the first year and 55,000 annually in subsequent years. H-4 dependent spouses of H-1B visa holders who are seeking employment-based lawful permanent resident (LPR) status, can feel better with permitted work and earnings. The USCIS, in a statement, said the Department of Homeland Security is extending the eligibility for employment authorization (EAD) to certain H-4 dependent spouses of H-1B non-immigrants who are seeking employment based Permanent Residency. The individuals can avail the facility if they can satisfy at least one of the stipulated three conditions. The conditions include that the principal H1B worker has an approved 'I-140' or is currently on an extended H1B status beyond the 6-year limitation based upon an I-140 petition application pending for at least 365 days (one calendar year). The decision by the authorities is being welcome by the associations of India in US, and South Asian communities for providing the work permit facility. -Kannamsai

Obama Appoints PIO DJ Patil first US Chief Data Scientist February 19, 2015 14:49

The White House has named Indian origin DJ Patil for the post of Chief Data Scientist and Deputy Chief Technology Officer for Data Policy, the post created for the first time. “Patil joins the White House following an incredible career as a data scientist - a term he helped coin - in the public and private sectors, and in academia,” The White House said in a statement. He had vast experience in several IT giants including LinkedIn, Greylock Partners, Skype, PayPal, eBay and RelateIQ. Patil’s role includes maintaining supremacy of US’ technology and innovation, on the Administration’s Precision Medicine Initiative for providing clinicians new tools, knowledge, and therapies with the help of advanced data and health care services. He will have to work along with various departments including Chief Information Officer and U.S. Digital Service. His work will include data science leadership on the Administration’s momentum on open data and data science. “President Obama has prioritized bringing top technical talent like DJ into the federal government to harness the power of technology and innovation to help government better serve the American people,” Megan Smith said. Patil will work in the Office of Science and Technology Policy, reporting to US Chief Technology Officer Megan Smith. -Kannamsai

British-Irish Visa Scheme for Indians February 11, 2015 12:22

Indian and Chinese tourists will be able to visit Britain and Ireland on a single visa from today. The scheme was formally launched by British home secretary Theresa May and the Irish minister for justice…

NRI appreciates courtesy of Bengalore February 04, 2015 18:23

Indian-American Ashok K.Mago appreciated people of Bengalore as he got back his Mac Book Air, which he left (lost) at the security screening in Bengaluru airport. "Once I realized that I had left my Mac Book Air at Bengaluru airport, it was a foregone conclusion that I will never get it back. Surprisingly, I got it," Mago said on his return from India. "People at Bengaluru airport were not only polite, but also ensured that the lost laptop (worth $4,000) indeed went to its real owner," said Mago. He came to India for receiving the Padma Shri from the President in recognition of his contribution towards trade and industry last year. He is founder-chairman of the Greater Dallas Indo American Chamber, which renamed to US-INDIA Chamber of Commerce. While lauding the persons who returned his laptop, Mago said that he left his laptop on December 16 after passing through the security checkpoint at the airport. "I was directed to the lost and found department of the airport," he said, adding that a few days later, he received his lost laptop. He was one among a few Indian-Americans invited for the dinner hosted by President Pranab Mukherjee in honour of US President Barack Obama in New Delhi. After his appreciation, Bengalore people are expecting good work in return of their humbleness. India is expecting huge and better from NRI in empowering the Nation. -Kannamsai

NRI died of Cardiac Arrest January 02, 2015 12:32

Hasan Abdul Kabir Bagef Chaush (54), an NRI from U.A.E died of Cardiac Arrest on Tuesday night, who is in India for attending his nephew’s marriage scheduled on Wednesday at Gangapur, Aurangabad. He suffered the fatal Cardiac arrest while performing the Sharaa, a traditional dance. After his death his relatives postponed the marriage. According to relatives of Hasan Abdul Kabir Bagef Chaush, he was an official with the oil and petroleum ministry in UAE, after autopsy his body was carried to Mumbai and it shall be flown back to UAE. AW: Kannamsai

Richard Verma sworn in as US ambassador to India December 20, 2014 10:30

Indian-American Richard Verma sworn in as US diplomat to NEW DELHI, by Secretary of State John Kerry. He is the first Indian-American to be appointed for this High post. Richard Verma was confirmed by the United States Senate a week ago by voice vote. He will replace Nancy Powell, who resigned for this post over Indian officer in US Devyani Khobragade's issue. Verma was chosen for strong Indo-American ties and he’ll be arrived in India before Kerry’s visit in early January and Obama for R-Day ceremony to India. Verma parents migrated to US in early 1960s. Many affirmed his choice as the right step for better relations with India and He will deserve the position. AW: Kannamsai

Indian American jailed in fraud case December 17, 2014 16:17

Sachin Uppal, 37, An Indian American in Brighton, Michigan sentenced to 64 months imprisonment by a federal court for $3.8-million in a fraudulent investment scheme. U.S. District Judge Nancy G. Edmunds sentenced Uppal, following his August guilty plea to wire fraud charges. Court documents shows that, Uppal maintained the Jefferson Smith Trading Company LLC (“JSTCO”) from July 2007through September 2013. Though Uppal was not a licensed investment advisor, he marketed JSTCO to potential investors and accumulated investor funds, describing it as a “hedge fund.” Uppal introduced himself to the investors as a “day trader,” who commonly use investor funds to buy and sell financial instruments within the same trading day, which can reduce risk to investors.Among the victims of Uppal his family friends were also there. In this type of affinity fraud cheaters oftenly targets members from identifiable groups, such as a religious or ethnic communities or clubs. Uppal was ordered to compensate his victims in the amount of $3,867,187. Uppal simply filled his stomach with the money without conducting any trades at all. When investors asked to close their accounts and withdraw their investment funds, Uppal smoothly suggested them not loose profitable duck. Uppal promised a return of 18 to 20 percent of the total amount per year, with a minimum investment commitment of only 12 months. After accumulating initial investment, Uppal emailed his victims fake “year-to-date investment summaries” to pretend that their accounts were performing continuously and to convey them to invest additional funds. Investors are suggested to approach the Financial Industry Regulatory Authority (FINRA) website (http://www.finra.org) and its Broker Check resource before investing in any firm or to any person. Uppal really betrayed everyone who believed in him including family members and well wishers also. AW: Kannamsai

Vijay Jolly made GOPIO's Political Advisor December 10, 2014 17:23

Vijay Jolly, Member of the National Executive Committee of the BJP, has been appointed Global Political Affairs advisor of the Global Organization of People of Indian Origin, International. GOPIO established in the year 1989 and has been working for 28million NRI and Persons of Indian Origin (PIOs), in more than 25 nations across the globe. Ashook Ramsaran, president GOPIO International with headquarters in New York, US, wrote to Jolly and confirmed his appointment, said a release from Jolly's office. Vijay Jolly was in news with strong comments on than Delhi Cheif Minister Sheila Dixit and Suresh Kalmadi over alleged financial irregularities in the 3–14 October 2010, XIX Common Wealth Games in Delhi.He was member of Delhi's Legislative assembly from saket constituency. He was attacked by a mob in Nepal on july 3rd of 2014, while returning after addressing a meeting of Nepal's ruling coalition partner CPN-UML. This former BJP MLA was active in Delhi politics and is now associated with All India Incharge & Prabhari of Tripura State, BJP and All India Incharge & Convenor of Foreign Cell, BJP. Aw: Kannamsai

Weak rupee draws NRIs to Indian realty February 14, 2014 13:01

Rupee depreciation may be bad news for the Indian economy, but not so for the non-resident Indians (NRIs) scouting for property back home. Cashing in on the opportunity to buy residential units cheaper by up…

As rupee falls, NRIs exit realty February 14, 2014 13:01

Real estate is the new victim of the rapidly falling rupee. Non-resident Indians (NRIs) who hold premium properties are getting jittery and many have pressed the sell button.Says Om Ahuja, chief executive officer (CEO), Jones…

Lakshmi Mittal's Home in Second Most Expensive Street November 22, 2013 17:30

Indian steel tycoon, Lakshmi Mittal's home in London's Kensington Palace Gardens is the second most expensive street in the world. The steel baron owns house number 9a and 18-19 in the coveted tree-lined avenue. According to reports, he has put his neo-Georgian style mansion, bought in 2008, on sale. The 14,736 square feet property (9a) has been put up for only £110 million, seven million pounds less than the price it was bought by Mittal. When Mittal had bought it at £117 million, the palatial house with 12 bedrooms was the most expensive in Britain. According to realtors the average price of properties in this coveted street are sold at £122 million. The house was bought for Lakshmi Mittal's son Aditya. (Picture Source: img.thesun.co.uk) (AW: Pratima Tigga)