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Employers could soon be required to pay additional fees to extend work visas for foreign employees under a new proposal by the Department of Homeland Security (DHS). The proposed rule would mandate a $4,000 fee to extend an H-1B visa and a $4,500 fee to extend an L-1 visa. This is part of the 9/11 Response and Biometric Entry-Exit Fee, which currently applies only to initial visa petitions and changes of employers.The 9/11 Response and Biometric Entry-Exit Fee was established to fund national security programs, including systems to track the entry and exit of non-U.S. citizens. This fee, initiated by the Consolidated Appropriations Act of 2016, applies to certain H-1B and L-1 visa petitions.Current Fee StructureCurrently, employers with 50 or more employees in the United States, where over 50% of these employees are on H-1B or L-1 visas, must pay this fee for initial petitions or when there is a change of employer. The fees are $4,000 for H-1B petitions and $4,500 for L-1 petitions.Proposed ChangesThe new rule proposes extending these fees to cover visa extension petitions as well. This means that employers would need to pay the $4,000 or $4,500 fee not only for initial petitions or changes of employer but also for extending the employment period of existing H-1B or L-1 visa holders.Reasons for the ChangeDHS has outlined several reasons for this proposed change:Increased Funding Needs: The expanded fee will provide additional funds necessary for the biometric entry-exit system's continued operation and enhancement.Consistency and Fairness: The change aims to ensure that the fee applies uniformly across all petition types, promoting fairness.Enhanced Security: Adequate funding will help maintain and improve the biometric entry-exit system, which is essential for monitoring immigration and enhancing national security.Impact on EmployersIf implemented, the rule will increase costs for employers who rely heavily on H-1B and L-1 visas. Companies with a significant number of visa extensions may face substantial financial burdens, potentially leading them to reassess their hiring strategies and approach to extending employment for foreign workers.The DHS is currently seeking public comments on the proposed rule. Stakeholders and the general public have the opportunity to provide feedback until July 8, 2024.110149344

A determined Bangladesh team on Monday thrashed a spirited Nepal by 21 runs, booking the last berth of the Super Eight. With this, the final eight teams are now confirmed for the next stage of the ICC tournament.In the Super Eight, there are two groups. Australia, India, Afghanistan, and Bangladesh have been slotted into Group 1 of the Super Eight stage, confirming a face-off between three unbeaten teams at the tournament so far. South Africa, West Indies, USA and now England fill Group 2 of the second round.T20 World Cup Group Qualifiers From Group A, India and the USA teams have been qualified while from Australia and England have qualified from Group B. From Group C Afghanistan and West Indies have qualified for the Super Eight. South Africa and Bangladesh have qualified from Group D.India, Australia, Afghanistan, and Bangladesh will feature in Group 1 of the next round, whereas West Indies, South Africa, England, and the USA will feature in Group 2.Teams will be play three matches each during the Super Eight phase, with the top two sides in each group qualifying for the semi-final stage of the event.T20 World Cup Super Eight detailsThe Super Eight stage kicks off in Antigua on June 19 with a match between the USA and South Africa. That evening, the West Indies will face long-time rivals England in St Lucia.On June 20, undefeated India will play against Afghanistan in Barbados, a crucial game ahead of the knockout stages. This will also mark India’s first game in the Caribbean during the tournament.Afghanistan will seek redemption for their close loss to Australia in last year's ICC Men's Cricket World Cup when they meet on June 22 in St Vincent. Despite facing tough back-to-back matches, Rashid Khan's team has shown remarkable resilience throughout the tournament.Key fixtures continue: co-hosts West Indies will play South Africa in their final Group 2 match on June 23 in Antigua. Historically dominated by South Africa, the West Indies turned the tables last month with a clean sweep in a three-game T20I series at home.Another World Cup-centric match features India against reigning champions Australia in St Lucia on June 24.T20 World Cup Super Eight VenuesThe Super Eight matches of ICC T20 World Cup will be played in Antigua, Barbados, St Lucia, and St Vincent will host all 12 games in this round.ICC Super Eight Fixtures 19 June: USA v South Africa, North Sound, Antigua19 June: England v West Indies, Gros Islet, St Lucia20 June: Afghanistan v India, Bridgetown, Barbados20 June: Australia v Bangladesh, North Sound, Antigua21 June: England v South Africa, Gros Islet, St Lucia21 June: USA v West Indies, Bridgetown, Barbados22 June: India v Bangladesh, North Sound, Antigua22 June: Afghanistan v Australia, Arnos Vale, St Vincent23 June: USA v England, Bridgetown, Barbados23 June: West Indies v South Africa, North Sound, Antigua24 June: Australia v India, Gros Islet, St Lucia24 June: Afghanistan v Bangladesh, Arnos Vale, St Vincent

Post a dramatic wave of volatility, India VIX has now cooled off and the investors have readjusted to all the sentiments that were out during the last two weeks.The 50 component index Nifty50, ended the week by closing near its upward-moving channel. The index closed at 23,465, after making a new all-time high on Friday. On the other hand, Bank Nifty is still somewhere in the middle of its upward channel, giving a close at 50,002.As the indices inch towards newer highs, ET Markets interacted with analyst Chandan Taparia, Senior VP, Equity Derivatives & Technicals, Broking & Distribution at Motilal Oswal, regarding his views on Nifty and Bank Nifty along with an index strategy for the upcoming week. Following are the edited excerpts from his chat:The markets have been heading upwards swiftly, recovering the dips of the election outcome day. Do you expect a steady and gradual up move in the indices now in the near future? Or is it likely to proceed with its existing swiftness?The Nifty Index has moved by 4,650 points in the last nine months (recovered by 2,200 points in the June month itself) and any hiccups have been absorbed by the retail infusion despite continuous selling by the FIIs. It has been trading in an upward sloping channel and expected to continue this bull run. India VIX has significantly cooled off from its highs giving comfort to the overall sentiments. As of now till Nifty holds 21,800 zones, ongoing momentum can extend towards 24,000-24,500 zones with decent buying in many outperforming sectors.In the last week, the FIIs remained net short on the index futures, however, the number of contracts declined. Do you think this is the time they were waiting for, to come back?The political picture is clear and stable in India after the election results and the development growth story is intact. The magnitude of selling has decreased significantly in the last few sessions as FIIs long short ratio has improved from 12.75% to 46.34% in a matter of seven sessions which indicates a potential upside as witnessed historically. Volatility has fallen from its recent top of 30-31 and now quoting below 15 zones, FIIs usually turn back in the developing market where volatility is lesser with political stability so expecting them to back soon to drive the next leg of rally in Indian market.How do you read the current DII positioning? Previously, when FIIs were net short, DIIs were net long. But this week’s DII data indicates mixed sentiments. What does this mean?DIIs are still standing at net longs and have supported the market by consistently buying from the last eleven months.What does the Bank Nifty’s OI data indicate for the upcoming week?Bank Nifty OI has increased by 18% in this series so far with a price rise by 2% which indicates longs are adding in this index.As per the technical placement, Nifty seems to be near the resistance of the upward channel and also quite above from its moving averages. Do you think now is the time when the price might retrace from the resistance to test the averages?I don’t think that price will retrace much from current zones as we have already seen a correction on election result day and that was bought swiftly and smartly which clearly shows strength and bargain buying power of Indian retail and DIIs. I believe that by chance if any decline happens that could be the best opportunity to add more positions in the Indian equity market.If the above case is true, how can one hedge against the risk of fall in prices?This case is less likely but hedging can be done to avoid any unforeseen event. One can initiate a bear put spread by keeping in mind that the next volatile trigger could be the Budget session of the newly elected government. Any stock recommendations that you might have for the upcoming week?Positive view on Capital Goods (ABB, Siemens, Cumminsind), Auto (M&M, Motherson, Escorts), Shipping (Cochinship, Mazdock, GRSE), Defence (HAL, BEL, Paras), Pharma (Glenmark), Consumption (Indigo, Trent, ABFRL) Do you have any strategies or levels to play on Bank Nifty in the coming week?Bank Nifty needs to continue to hold above 50,000 zones for an up move towards 50,500 then 51,000 zones whereas on the flipside, supports are placed at 49,500 then 49,000 zones.Does the PCR data currently indicate any positions in Nifty?Nifty PCR has improved from 0.73 to 1.30 in the last nine sessions which indicates that put writers are creating a base in the market.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

The primary market is likely to see a renewed wave of IPO rush in the next three to four months with the general elections out the way. Data and multiple reports suggest that over 30 companies are ready to hit the market in the few months, aiming to raise over Rs 50,000 crore.Analysts said there are as many as 24 companies planning to launch IPOs worth Rs 30,000 crore."The IPO wave will gain further momentum in the coming months. We witness strong investor confidence in the market post-elections with the Modi government returning to power. A total of 24 companies are ready to hit the market in the next couple of months, aiming to raise approximately Rs 30,000 crore through IPOs," said Mahavir Lunawat, Managing Director, Pantomath Capital.Some of the expected IPOs in the next few months include that of Ola Electric, FirstCry, Fincare SFB, NSDL, Afcons Infrastructure, Waaree Energies, Asirvad Microfinance, Stanley Lifestyles, One MobiKwik Systems, Emcure Pharmaceuticals, Allied Blenders and Distillers, Shiva Pharmachem, Bansal Wire Industries among others.Apart from the above companies, South Korean automaker Hyundai Motor, Rekha Jhunjhunwala-backed Baazar Style Retail, Swiggy and Haldiram's are also planning to launch their in the next four to five months. Hyundai India has already filed a draft prospectus with the market regulator Sebi for a nearly $2.5-3 billion public offer.Meanwhile, snackmaker Haldiram is said to be exploring an IPO after plans to sell stake to foreign investors have stalled, according to reports. Kolkata-based Baazar Style Retail had filed for an IPO in early March this year, which includes a combination of fresh equity sale worth Rs 185 crore and an offer for sale (OFS) of 1.68 crore.Also Read: IPO Calendar: 8 issues set to ignite primary market in post-election surge next weekSwiggy, on the other hand, recently secured approval for an IPO of about Rs 10,414 crore ($ 1.25 billion) at an extraordinary general meeting of its shareholders. The food and grocery delivery company proposes to raise Rs 3,750 crore ($450 million) in fresh capital and the IPO will also include an offer-for-sale component of up to Rs 6,664 crore ($800 million).Other marquee IPOs to watch out for in next 6 monthsOla ElectricIndia’s largest electric two-wheeler maker Ola Electric is said to have secured markets regulator Sebi’s nod for its IPO and the issue could be launched in the next 2 months itself.According to the draft prospectus, the company proposed to raise up to Rs 5,500 crore through a fresh issue, apart from an offer-for-sale (OFS) component of 95.2 million shares.FirstCryBrainbees Solutions, the parent firm of online e-commerce platform FirstCry, has re-filed preliminary papers with Sebi to raise funds through an IPO, which includes a combination of a fresh issue of equity shares aggregating up to Rs 1,816 crore and an Offer For Sale (OFS) of up to 5.44 crore equity shares.One MobiKwik SystemsGurugram-based One MobiKwik Systems, a platform business with a two-sided payments network, has already filed its draft prospectus with Sebi to raise Rs 700 crore for its IPO.The public offer with a face value of Rs 2 is entirely a fresh issue of equity shares with no offer for sale component. The company is awaiting Sebi approval and analysts expect the issue to be launched in the next few months.Waaree EnergiesSolar PV modules maker Waaree Energies filed its draft red herring prospectus with capital markets regulator Sebi to raise funds through an IPO. The public offer includes a fresh issue of equity worth Rs 3,000 crore and an offer for sale (OFS) of 32 lakh shares.Allied Blenders and Distillers IPOLast month, Allied Blenders and Distillers received approval from capital market regulator Sebi to raise Rs 1,500 crore through an IPO including a fresh issue of up to Rs 1,000 crore. The issue could be launched in the next couple of months.Fincare SFB IPOFincare Small Finance Bank has already received market regulator Sebi's approval for its proposed initial public offer. The bank plans to raise up to Rs 625 crore by issue of equity shares of face value Rs 10.NSDLIndia’s largest depository National Securities Depository Limited (NSDL) has filed its draft prospectus for an IPO, which is completely an offer for sale (OFS) of 5.72 crore shares.