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Hindustan Times
13 hours ago
- Business
- Hindustan Times
End of H-1B visa lottery? DHS plans to replace model with ‘weighted selection process'
The H-1B visa system might be in for a major shake-up. The Trump-era proposal is making waves again, as the US Department of Homeland Security (DHS) has submitted a fresh draft that could replace the current random lottery with a 'weighted selection' method for issuing H-1B visas, according to a Forbes report. H-1B visa lottery system might end(shutter stock) H-1B visa lottery to end? What to know Right now, the process is pretty straightforward: eligible applications are submitted, and then a computer-generated lottery picks who gets the limited spots. Around 85,000 visas are available each year under the cap, with 20,000 of them set aside for people who have a Master's degree or higher from a U.S. institution. But every year, demand far outpaces supply. So, what does 'weighted selection' mean exactly? That part is still unclear. The DHS has not shared many details publicly yet, but early analysis suggests that applications could be ranked based on factors like salary, education level, or even seniority. If that happens, it could completely change who benefits from the H-1B program. A study earlier this year by the Institute for Progress showed that if salaries were prioritized over random chance, the average H-1B recipient's pay could jump from about $106,000 to $172,000. That would make things much harder for outsourcing firms who rely on hiring large numbers of lower-wage workers, but could be a big plus for researchers, PhD holders, and senior-level tech professionals. Experts like Connor O'Brien from the Economic Innovation Group are in support of the change. He posted on X (formerly Twitter) that 'random allocation is insane' and that ranking by salary would better reflect the country's needs. For Indian workers, who made up over 70% of H-1B recipients in the last two years, these changes could have mixed results. Those with higher degrees or specialized roles might benefit, while others could find it harder to secure a visa. The U.S. Citizenship and Immigration Services (USCIS) is still working on the final draft of the rule, and it is expected to go through public review before anything is set in stone. But if passed, the new system could be in place as early as next year. FAQs 1. What is the new proposed change to the H-1B visa process? The U.S. Department of Homeland Security has proposed replacing the random H-1B lottery system with a weighted selection process that may prioritize applicants with higher salaries or advanced qualifications. 2. Will the H-1B lottery system be eliminated? Yes, if the proposal is approved, the current random lottery system could be replaced by a merit-based or salary-ranking system, especially for the capped portion of the H-1B visa program. 3. How will the new H-1B selection process affect Indian applicants? Indian nationals, who make up over 70% of H-1B recipients, may face tougher competition. The new system may favor highly paid or specialized applicants, possibly impacting outsourcing firms. 4. What is the current annual cap for H-1B visas? The H-1B visa program currently has an annual cap of 85,000 visas, including 20,000 spots reserved for applicants with a U.S. master's degree or higher.
Time of India
16 hours ago
- Business
- Time of India
Rupee ends lower for fifth day: Falls 7 paise to 86.38 against dollar amid trade deal uncertainty; FII outflows persist
The rupee on Tuesday fell 7 paise to close at 86.38 against the US dollar, weighed down by persistent uncertainty over the India-US trade deal ahead of the August 1 deadline and continued foreign fund outflows. At the interbank foreign exchange market, the domestic currency opened at 86.26, touched an intra-day high of 86.22 and a low of 86.41, before settling at 86.38, down from the previous close of 86.31. This marked the rupee's fifth straight session of decline since July 16, when it had closed at 85.92. Forex traders said while the softening of crude oil prices and a weaker dollar supported the rupee at lower levels, negative domestic equity trends and foreign institutional investor (FII) outflows capped gains. "We expect the rupee to trade with a slight negative bias on trade deal talks. However, weakness in the American currency and softening of crude oil prices may support the rupee at lower levels," said Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan. Dilip Parmar, Research Analyst at HDFC Securities, said, 'The rupee depreciated for the fifth consecutive day, driven by risk-averse market sentiment and consistent dollar demand.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Lodha Panache: Hinjewadi Pune: 2/3/4 BHK Luxurious Flats Lodha Panache Learn More Undo He added, 'Regional currencies remain range-bound as the dollar consolidates amid geopolitical uncertainties. Near-term, spot USD-INR has support at 85.95 and resistance at 86.70.' An official said the US team will visit India in August for the next round of negotiations on the proposed bilateral trade agreement. The fifth round of talks concluded last week in Washington. The August 1 deadline marks the end of the suspension of Trump-era tariffs on several countries, including India, where a 26% tariff on exports could come into effect if no interim deal is reached. "Traders may remain cautious ahead of PMI and durable goods orders data from the US this week," Choudhary added, noting the USD-INR spot price is expected to trade between 86.10 and 86.65. The dollar index fell 0.03% to 97.82, while Brent crude declined 0.94% to $68.56 per barrel in futures trade. In domestic markets, the Sensex slipped 13.53 points to 82,186.81, and the Nifty dropped 29.80 points to 25,060.90. FIIs offloaded equities worth Rs 3,548.92 crore on a net basis, according to exchange data. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
a day ago
- Time of India
Breonna Taylor case: Ex-police officer Brett Hankison handed 33 months prison sentence; Judge rejects DOJ's call for leniency
Breonna Taylor (File photo) A federal judge dismissed a Justice Department appeal for clemency on Monday and handed down a 33-month prison term to a former officer for breaching the civil rights of a Breonna Taylor, a Black woman, whose 2020 death sparked extensive demonstrations. The Kentucky jury found Brett Hankison, a previous Louisville police detective, guilty in November of violating Taylor's civil rights during a failed police operation at her residence. Harmeet Dhillon, who leads the Justice Department's civil rights division, made an extraordinary request to Judge Rebecca Jennings last week, suggesting a sentence as time served, which is one day Hankison spent in custody upon arrest. However, Jennings, a Trump-era judicial appointee, dismissed this suggestion, expressing concern over the prosecution's sentencing document and lenient recommendations, according to the Louisville Courier Journal. The sentence included 33 months of imprisonment and three years of supervised release, despite the possibility of a life sentence. The deaths of 26-year-old Taylor followed by George Floyd, a 46-year-old Black man killed by a white Minneapolis officer in May 2020, catalysed substantial protests across the United States and internationally against police misconduct and racial discrimination. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thiruvananthapuram ചുമരിൽ നൂറുകണക്കിന് റോസാപ്പൂക്കൾ. Rare Climbing Rose Seeds Learn More Undo On March 13, 2020, around midnight, Taylor and her partner Kenneth Walker were asleep in her Louisville flat when they detected noise at the entrance. Walker discharged his firearm, wounding an officer, believing an intrusion was occurring. The police, armed with a disputed no-knock warrant for a drug arrest, responded with over 30 shots, fatally wounding Taylor. During the operation, Hankison fired 10 shots, some entering a neighbouring flat, without hitting anyone. He remains the sole officer convicted regarding the incident. In her sentencing document, Dhillon argued that a substantial prison term would be "unjust." "Hankison did not shoot Ms. Taylor and is not otherwise responsible for her death," she said. "Hankison did not wound her or anyone else at the scene that day, although he did discharge his duty weapon ten times blindly into Ms Taylor's home." The Taylor family's legal representatives acknowledged that whilst the sentence didn't "fully reflect the severity of the harm caused," it exceeded the Justice Department's recommendation. "We respect the court's decision, but we will continue to call out the DOJ's failure to stand firmly behind Breonna's rights and the rights of every Black woman whose life is treated as expendable," they said. In May, the Justice Department withdrew lawsuits initiated under Joe Biden 's administration against Louisville and Minneapolis police forces, which had alleged excessive force and racial discrimination.
Business Times
a day ago
- Business
- Business Times
Rupiah to consolidate before further gains, Citi strategist says
[JAKARTA] The Indonesian rupiah's recent gains are set to pause in the coming month before advancing to levels last seen in December, according to the currency's top forecaster. Emerging-market currencies, especially those that are high-yielding, tend to weaken for various reasons in August, said Rohit Garg, head of foreign exchange and rates strategy Asia ex-Japan for Citigroup. By the end of the year, the strategist forecasts the rupiah to rally almost 2 per cent against the US dollar. 'Right now our recommendation is to stay neutral, see what happens on Aug 1 and see how the month evolves,' said Garg, referring to US President Donald Trump's tariff deadline. 'But we are still looking at a little bit of a lower USD/IDR, closer to 16,000 than higher.' The rupiah closed at 16,311 per US dollar on Monday (Jul 21). The rupiah is rebounding from earlier losses in the year as concerns over a global trade war and Indonesia's fiscal policy ease. Pledges to cap the nation's budget deficit below 3 per cent of gross domestic product and plans to tap cash reserves to cover shortfalls this year have helped calm investor nerves, Garg said. The rupiah has also been benefiting from US dollar weakness, driven by Trump-era trade tariffs and growing US fiscal deficits. Potentially softer data, especially in the labour market this summer, will boost expectations for Federal Reserve rate cuts and the 'de-dollarisation' theme is likely to persist, the strategist said. 'We have been long rupiah, short US dollar since the middle of April,' said Garg. 'We were expecting rupiah to appreciate a fair bit and it has, but we are expecting USD/IDR to stabilise at least for the next few weeks. And it's mostly got to do with external factors than necessarily domestic factors.' Garg was the top forecaster for the rupiah in the second quarter, according to Bloomberg-compiled data. The ranking is based on criteria such as margin of error, timing and directional accuracy. BLOOMBERG
Mint
a day ago
- Business
- Mint
Rupiah to Consolidate Before Further Gains, Citi Strategist Says
(Bloomberg) -- The Indonesian rupiah's recent gains are set to pause in the coming month before advancing to levels last seen in December, according to the currency's top forecaster. Emerging-market currencies, especially those that are high-yielding, tend to weaken for various reasons in August, said Rohit Garg, head of foreign exchange and rates strategy Asia ex-Japan for Citigroup Inc. By the end of the year, the strategist forecasts the rupiah to rally almost 2% against the dollar. 'Right now our recommendation is to stay neutral, see what happens on Aug. 1 and see how the month evolves,' said Garg, referring to US President Donald Trump's tariff deadline. 'But we are still looking at a little bit of a lower USD/IDR, closer to 16,000 than higher.' The rupiah closed at 16,311 per dollar on Monday. The rupiah is rebounding from earlier losses in the year as concerns over a global trade war and Indonesia's fiscal policy ease. Pledges to cap the nation's budget deficit below 3% of gross domestic product and plans to tap cash reserves to cover shortfalls this year have helped calm investor nerves, Garg said. The rupiah has also been benefiting from dollar weakness, driven by Trump-era trade tariffs and growing US fiscal deficits. Potentially softer data — especially in the labor market this summer — will boost expectations for Federal Reserve rate cuts and the 'de-dollarization' theme is likely to persist, the strategist said. 'We have been long rupiah, short dollar since the middle of April,' said Garg. 'We were expecting rupiah to appreciate a fair bit and it has, but we are expecting USD/IDR to stabilize at least for the next few weeks. And it's mostly got to do with external factors than necessarily domestic factors.' Garg was the top forecaster for the rupiah in the second quarter, according to Bloomberg-compiled data. The ranking is based on criteria such as margin of error, timing and directional accuracy. More stories like this are available on
