Why Donald Trump as US President is bad news for Indian IT

Donald Trump said: “Many mothers across this country are worried their kids won’t find jobs, and they are right to be worried. One of the biggest threats is outsourcing – jobs for college-educated kids are being sent to other countries.” (Reuters) Donald Trump’s victory in the US Presidential elections may not be a good news for the Indian IT professionals who want to visit the US in search of work. While Trump is seen as a threat to America itself by many, his election may end up making the good relationship shared by the India and the US sour. In a speech at Ohio yesterday, Trump hinted his cheering supporters that, if elected, he would end the practice of granting H-1B visas to workers…

Five ways to hard-wire children for a lifetime of giving (The writer is a Reuters contributor. The opinions expressed are his own.)As any parent knows, most children seem to be wired for one thing: Getting, getting, getting.Then there are kids like Kai Martin.The 9-year-old Arizonan is counting down to the holidays with a special kind of Advent calendar: Every day in December he is putting a food item in a box, which will be delivered to a local shelter at Christmas.Some of that generous nature comes from Kai himself. But he is also being hard-wired for giving by his mom, Shannon Bodnar. Just as her own parents inspired her to give - taking her along on trips to give holiday toys to families in need, when she was just 7 - she is now...

Baseball kicks off owners' meetings in Chicago CHICAGO (AP) - Tom Ricketts was walking back to the owners’ meetings Wednesday when he was stopped by a few people on the street, eager to congratulate him on the Chicago Cubs’ World Series title. Such is life for Ricketts these days. It has been two weeks since the franchise won its first championship since 1908, and the party is still going strong. “It’s great. I mean the team’s a member of the family for a lot of folks,” Ricketts said, “and the fact that we had this kind of success after all these years of not quite getting there is just magical for this whole city.” Ricketts will be acknowledged by his fellow owners for the title at some point during the meetings, but otherwise it’s...

Saudi oil minister says Opec production cut ‘imperative’ Algiers: Saudi Arabia’s oil minister said it was “imperative” that Opec nations finalise an agreement over a cut in oil production aimed at boosting crude prices, Algerian media said Sunday. Khaled Al Faleh met his Algerian counterpart on Saturday and called on cartel members to stick to the surprise cut deal, reached in Algiers in September. “In this period marked by unstable oil prices it is imperative to reach a consensus between Opec nations and to agree on an effective mechanism and precise figures to activate the historic Algiers accord,” Al Faleh was quoted as saying by Algeria’s APS news agency. The September meeting of Opec members produced an agreement to cut the cartel’s output by 750,000 barrels per day, according to Bloomberg News. Oil rose on...

'Material guy' ready to retire from the rag trade Gaskin Fabrics has played a leading role in Manawatu's material world for almost seven decades. After 50 odd years in the rag trade, and 33 years in business with wife Barbara, Bryan Gaskin is 'bolting' the doors of his fabric shop and embracing retirement. When December rolls around, the importing drapery known nationwide as Bryan Gaskin Fabrics, will pass into retail history. The business founded in Feilding by Bryan's parents Godfrey and Joan in 1947, moved to Palmerston North's Main St just off The Square in 1983 when Bryan and Barbara bought them out. "Brian Elwood city mayor said this was the place to be because of its proximity to the Convention Centre. He said blokes would go to the conferences and the women would go shopping," Bryan Gaskin said...

Sensex Falls; Rupee Drops To Record Low Indian shares dropped on Thursday, heading for their first decline in three sessions, as a fall in the rupee to record low dented sentiment at a time when investors are already worried about how demonetisation will affect economic growth. The rupee fell to as low as 68.86 per dollar, surpassing its record low of 68.85 hit in August 2013, as the greenback remained strong over the prospect of higher U.S. interest rates. Earlier the local currency had rebounded sharply after hitting a low of 68.84 on heavy intervention by the central bank. The fall in the rupee comes at a time when investors are souring on the government's shock move to remove high-value notes from circulation, which came on the eve of the unexpected election of Donald Trump as ...

Narendra Modi’s Rs 500, Rs 1000 notes ban powers Rs 6 lakh cr into banks, births bond ... The situation calls for action from authorities as a banking system awash with unused cash could cause borrowing costs to crash, threatening financial stability, and the RBI risks running short of bonds to offer to banks. (Reuters) Prime Minister Narendra Modi’s shock ban on high-denomination currency notes may present a tricky situation for the Reserve Bank of India – a shortage of bonds needed to manage its money-market operations. About Rs 6 lakh crore ($87.3 billion) have been deposited at lenders since Modi’s November 8 move, as people rush to submit the now defunct Rs 500 and Rs 1,000 bills. Banks had a record Rs 4.3 lakh crore parked with the RBI against bonds as of November 22, according to India Ratings Research. That’s fast approaching all of the Rs 7 lakh...

Rand blamed for maize price hike Maize. Credit: Flickr.com     Article by Ilze-Marie Le Roux The Agricultural Business Chamber says there's been a spike in the maize price because the rand took a tumble last week. The currency, like other comparable emerging market currencies, slipped against the dollar following Donald Trump's victory in the US presidential election. Prices of agricultural products have also been increasing in the wake of a severe drought in South Africa. The Agricultural Business Chamber's Wandile Sihlobo explains. “It is caused as we are the net importers. With the rand as it is now, the US election and other uncertainties, it saw the maize price going up.” He adds that although South Africa will be exporting around 900 tonnes of maize, the country will be a net importer...