Canada is rolling out a new fast-track immigration route for H-1B visa holders, aiming to lure skilled professionals to its innovation and research sectors. This move, part of the 2025 Federal Budget, also includes significant funding to recruit over 1,000 international researchers and streamline foreign credential recognition, particularly in healthcare and construction.
Delhivery reported a consolidated net loss of Rs 50.38 crore for Q2 FY26, despite a 16.9% rise in operational revenue to Rs 2,559.3 crore. The company achieved record shipment volumes, driven by a 32% jump in Express Parcel deliveries and 12% growth in Part-truckload shipments, while managing integration costs and preparing for leadership changes.
Novo Nordisk, maker of Ozempic and Wegovy, lowered its 2025 sales outlook for the fourth time, citing slower growth in diabetes and obesity treatments. The company announced 9,000 job cuts and is in a bidding war with Pfizer for Metsera, raising its offer to $10 billion.
The Delhi High Court ruled that expatriates working in India must contribute to the Employees’ Provident Fund (EPF), upholding amendments to the EPF Act. International workers can only withdraw their full EPF balance upon retirement at 58 or in cases of total incapacity.
US President Donald Trump labelled Democrats ‘kamikaze’ as the US government shutdown, now the longest in history, enters its sixth week. Millions of federal workers face unpaid leave or working without pay, impacting essential services like airports and welfare programs. A dispute over healthcare spending fuels the deadlock, with both parties showing little willingness to…
A taxpayer successfully challenged a Rs 22 crore tax demand after the Income Tax Department cited three non-existent court rulings, allegedly suggested by AI. The Bombay High Court found procedural irregularities and breaches of natural justice, nullifying the assessment and ordering a fresh notice with verified citations.
India plans to significantly reduce direct imports of Russian crude from late November due to new US sanctions targeting Rosneft and Lukoil. Major refiners like Reliance Industries and state-controlled entities will halt purchases, leading to a sharp decline in December deliveries.
New US sanctions on Russian crude oil firms are causing major purchasers in China, India, and Turkey to distance themselves, leading to a significant decline in seaborne exports. Refiners are hesitant to accept Russian crude, resulting in increased oil volumes idling at sea and a drop in Moscow’s oil revenue.
India’s GIFT City may soon facilitate transactions in offshore Chinese renminbi. Authorities are reviewing a proposal to enable International Banking Units to deal in CNH. This move follows improved India-China relations and aims to expand banking services. Indian banks anticipate benefits from increased yuan-based transactions, driven by global trade. The decision awaits high-level approval.
Morgan Stanley’s Ridham Desai, bullish on India for 11 years, attributes his optimism to structural economic changes. Declining external vulnerabilities, a shrinking current account deficit, and a supportive macroeconomic framework have transformed India’s fundamentals, making its equity story resilient and offering long-term opportunities.
