Prince Harry's US residency is under scrutiny, as his visa records will be reviewed in a court hearing on February 5. Watch this report for more details!

Prince Harry faces scrutiny over US visa

As the swearing-in of Donald Trump nears, the U.S. faces increasing uncertainty around the h-1b visa program, which is crucial for foreign workers in specialty occupations. The program, introduced in 1990, has seen growing discontent due to its complexity, administrative costs, and lottery-based selection process. Watch in for more details!

Decline In H-1B Approvals Fuels Remote Hiring Trend | World Business Watch | WION

Nepal's visa policy is in limbo. The Himalayan nation's visa-free ticket policy, when introduced in 2015, was celebrated as a groundbreaking initiative to minimize the migration costs for Nepali workers heading to Gulf nations and Malaysia. However, its poor implementation has led to a dramatic surge in migration of workers. Watch in for more details!

Migration of Nepali workers increased by 102 percent: Report

The Bangladeshi government has streamlined the visa process for Pakistani nationals to enhance trade and economic ties between the two countries. Watch this report for more details!

Bangladesh eases visa process for Pakistanis to strengthen ties

Germany, a part of Europe's 29-nation Schengen region, will be rolling out Digital Schengen Visas for Indians by the second quarter of 2025, said the Chennai-based German Consul General Michaela K&uuml;chler. This move comes at a juncture when the inflow of Indian visitors to Germany is at an all-time high.&nbsp;
In 2023, German diplomatic missions in India issued more than 1.8 lakh (180,000) Schengen Visas to Indians, and this year the number of Schengen Visas issued to Indians is expected to surpass the 2 lakh (200,000) mark. She added that the total time for obtaining a Schengen Visa (including appointment wait time and processing time) from a German mission takes less than four weeks for applicants from Southern India.
Schengen region refers to Europe's passport-free zone covering most European countries. The largest free travel area in the world, it spans 29 countries that have abolished their internal borders to allow the unrestricted movement of people. Schengen visas allow the holder to travel freely in the Schengen region for a maximum of 90 days in any 180 days. The visas are not purpose-bound, but they do not grant the right to work.&nbsp;
Also read | <a class="gh-archive-page-post-title-link" href="https://www.wionews.com/world/french-military-bombs-isis-positions-in-syria-the-first-since-fall-of-assad-govt-8581341" aria-label="French military bombs ISIS positions in Syria, the first since fall of Assad govt">French military bombs ISIS positions in Syria, the first since fall of Assad govt</a>
The 29 Schengen countries are Austria, Bulgaria, Belgium, Czech Republic, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and Switzerland.
Among travellers from India, Schengen visas are regarded as hard to obtain, owing to the types of proofs, documents, and personal and banking details that are to be submitted.&nbsp;
Given that these visa rules are decided by all the Schengen states, there are rigorous requirements.&nbsp;
Germany is India&rsquo;s prime trading partner in the European Union, with domains such as defence, automobiles, heavy engineering, manufacturing, electrical equipment, metallurgy, textiles, and chemicals as major drivers of trade ties.
Also read | <a class="gh-archive-page-post-title-link" href="https://www.wionews.com/world/china-declares-two-new-counties-one-of-them-created-with-large-parts-of-indias-aksai-chin-8581294" aria-label="China declares two new counties, one of them created with large parts of India's Aksai Chin">China declares two new counties, one of them created with large parts of India's Aksai Chin</a>
Ranjit Pratap, Chairman of the Southern Region Council, Indo-German Chamber of Commerce, highlighted Germany's ageing population and the need for a young labour force, which offers opportunities for Indians and Indian businesses. According to the German Government, the country needs 400,000 skilled workers annually to support its economy and society, and Germany sees India as a key partner in meeting this need.
"Going forward, we see immense potential in Indo-German ties because Germany has launched a strategy to diversify economic engagement, and India plays a major role in that strategy. Germany's interest in looking towards India has increased a lot," Consul General Michaela K&uuml;chler added.

World | India News: Schengen region refers to Europe's passport-free zone covering most European countries, and is the largest free travel area in the world. 

Germany, a part of Europe's 29-nation Schengen region, will be rolling out Digital Schengen Visas for Indians by the second quarter of 2025, said the Chennai-based German Consul General Michaela Küchler. This move comes at a juncture when the inflow of Indian visitors to Germany is at an all-time high. In 2023, German diplomatic missions in India issued more than 1.8 lakh (180,000) Schengen Visas to Indians, and this year the number of Schengen Visas issued to Indians is expected to surpass the 2 lakh (200,000) mark. She added that the total time for obtaining a Schengen Visa (including appointment wait time and processing time) from a German mission takes less than four weeks for applicants from Southern India. Schengen region refers to Europe's passport-free zone covering most European countries. The largest free travel area in the world, it spans 29 countries that have abolished their internal borders to allow the unrestricted movement of people. Schengen visas allow the holder to travel freely in the Schengen region for a maximum of 90 days in any 180 days. The visas are not purpose-bound, but they do not grant the right to work. Also read | French military bombs ISIS positions in Syria, the first since fall of Assad govt The 29 Schengen countries are Austria, Bulgaria, Belgium, Czech Republic, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and Switzerland. Among travellers from India, Schengen visas are regarded as hard to obtain, owing to the types of proofs, documents, and personal and banking details that are to be submitted. Given that these visa rules are decided by all the Schengen states, there are rigorous requirements. Germany is India’s prime trading partner in the European Union, with domains such as defence, automobiles, heavy engineering, manufacturing, electrical equipment, metallurgy, textiles, and chemicals as major drivers of trade ties. Also read | China declares two new counties, one of them created with large parts of India's Aksai Chin Ranjit Pratap, Chairman of the Southern Region Council, Indo-German Chamber of Commerce, highlighted Germany's ageing population and the need for a young labour force, which offers opportunities for Indians and Indian businesses. According to the German Government, the country needs 400,000 skilled workers annually to support its economy and society, and Germany sees India as a key partner in meeting this need. "Going forward, we see immense potential in Indo-German ties because Germany has launched a strategy to diversify economic engagement, and India plays a major role in that strategy. Germany's interest in looking towards India has increased a lot," Consul General Michaela Küchler added.

Germany to introduce Digital Schengen Visa for Indians from 2025

President-elect Donald Trump has backed tech billionaire Elon Musk on the special visa program, which would enable highly skilled workers to enter the country. Talking to the New York Post, Trump expressed support for the initiative. Watch in for more details!

Elon Musk Vows To ‘go To War’ To Defend H-1B Visa Programme

Opinion | Indians seeking H1B work visas in the US may lose out on new opportunities, but in an economic sense, those very opportunities may shift to India

Anyone watching the ideological shootout within the American right wing as Donald Trump gets set to take charge for a second term in the White House should realise a simple truth: the United States is entering an era of all-round protectionism, spanning capital flows, consumer goods and labour. Unless Trump does a careful balancing act or a U-turn, we are heading for a year of serious policy changes officially aimed at his "Make America Great Again" (MAGA) agenda but in effect challenging the business-as-usual style in which Silicon Valley has led a global surge in technology and innovation, helping US domination in the world economy. But the inference from this would be more complex than it may appear at first sight. Also read | 2024: Year of the Trump phenomenon As I see it, once the game gets down to details, Indians (and others from outside the US) seeking H1B work visas and better lifestyles in the US may lose out on new opportunities, but in an economic sense, those very opportunities may shift to India like it did in the 1990s and 2000s when "offshoring" became hot. The difference is that this time, India is in an even better position to tap opportunities because the size of skilled and experienced knowledge professionals, infrastructure development, and communications bandwidth are far superior. Officially, H1B visas are long-term non-immigrant permits for those engaged in speciality occupations that require high skills. The year 2024 is ending in America with serious disagreements between the folks we call Trumpists. Technology billionaire Elon Musk officially supports the H1B visa as a vehicle to attract talent on merit, but has calibrated his position to seek "reform" in the system after a backlash post that says the H1B programme is only aimed at recruiting technology and financial service professionals at "relatively low wages" and not to draw "top talent." That should not make sense on close examination. Better work that produces better results attracts better wages -- and quibbling over what is "top talent" is a difficult game to play where employers are ordinarily the best judges of what talent is. But the pushback Musk is facing is symptomatic of the protectionism in which an "America first" policy for local citizens (Read: mostly white, less competitive technology workers) are expected to get priority. Also read | Trump to Musk: 2024 was the year of the toxic male Former Trump White House strategist Steve Bannon wants an outright scrapping of H1B visas and has even issued a warning to Vivek Ramaswamy and Musk, the co-chiefs of Trump's DOGE (Department of Government Efficiency). To leave little to doubt on the kind of hate that is going around against Indians, there is a viral video of far-right commentator Stew Peters and comedian Leonarda Jonie spewing venomous racism against Indian immigrants. With that kind of atmosphere, H1B may be a difficult thing to sustain and even more difficult to grow. Trump is certainly in a bind. Musk wants to raise the minimum salary for H1B visa approvals but that is hardly of relevance beyond a point. Last year, as much as 69% of those gaining from H1B visas with a salary below $100,000 per year were Indians. The number of employees covered by H1B visas totalled less than 54,000 of which 65% were for "computer-related" operations. Now, contrast that with some interesting data on global capability centres (GCC) of multinational companies functioning in or from India. According to industry association Nasscom, as many as 1,700 GCCs in India employed nearly 1.9 milllion people in the fiscal year ended March 2024, generating more than $64 billion in annual revenues. The government's economic survey for the year said as many as 42% of GCC employees were engaged in engineering, research and development. A study by consulting firm Zinnov noted that these included artificial intelligence and machine learning experts needed at the cutting edge of global business. Also read | Trump 2.0: The Golden Age of America or four more years of disruption? In plain English, India now has the scale, base and processes necessary to absorb all the H1B visa holders hired over the past decade, should that need arise. Some enhanced infrastructure facilities may be a clincher, but that is relatively easy in the current scenario. It is a naive thought to imagine that businesses deploying capital would meekly accept the narrow-minded Trumpists who do not understand the larger dynamics in a world in which everything from cryptocurrency to robotics and genomics needs a solid technologically educated workforce. If not India, they may settle for other countries to deploy or hire talent. European countries are already waking up to the prospect of hiring talented Indians. The irony is that in defending less than 100,000 jobs per year on a liberal count, the United States, which has a total of 168 million people in its civilian workforce, may be losing its grip on global technological leadership -- not to speak of small business growth aided by guest workers and rich immigrants. Extreme-right Trumpists seem to be adept at cutting America's nose to spite its technological face. It is their choice. P.S. On the downside of H1B returnees, Indians may have to worry more about narrow local roads choked with outsized Audis, Jaguars and BMWs, unless the government puts new-age cities on a fast-track model.

America's H1B protectionism is set to benefit India. Here's why

The Senate has convened a parliamentary session to discuss the UAE's visa restrictions and the welfare of overseas Pakistanis. The session aims to address concerns related to the impact on Pakistani workers and their families abroad, with a focus on finding solutions to ease the visa challenges. Watch in for more details!



Pakistani Travelers Required To Submit Police Verification For UAE Visa

The Senate has convened a parliamentary session to discuss the UAE's visa restrictions and the welfare of overseas Pakistanis. The session aims to address concerns related to the impact on Pakistani workers and their families abroad, with a focus on finding solutions to ease the visa challenges.

Pakistani Travellers Need Police Clearance For UAE Visa

The Senate has convened a parliamentary session to discuss the UAE's visa restrictions and the welfare of overseas Pakistanis. The session aims to address concerns related to the impact on Pakistani workers and their families abroad, with a focus on finding solutions to ease the visa challenges.



Pakistani Travellers Need Police Verification For UAE Visa

The Senate has convened a parliamentary session to discuss the UAE's visa restrictions and the welfare of overseas Pakistanis. The session aims to address concerns related to the impact on Pakistani workers and their families abroad, with a focus on finding solutions to ease the visa challenges. Watch in for more details!

#Gravitas | Indian tourists may soon be able to travel to Russia without a visa. Reports suggest, talks are currently underway between India and Russia to most likely introduce the visa-free travel system as early as the spring of 2025.  Watch this video to find out more.



Russia Plans To Grant Visa-free Entry To Indian Travellers From 2025

Beijing, China
China has now decided to offer 10 days of visa-free travel to international travellers who are coming from 54 countries, announced the National Immigration Administration (NIA) on Tuesday (Dec 17).
The NIA stated that passport holders from 54 countries, which includes Australia, Japan, the United States and countries across Europe, can now remain in some areas of mainland China for up to 10 days when transiting through one of the 60 international ports of the country. 
Also Read: <a href="https://www.wionews.com/world/china-man-fired-for-napping-in-office-awarded-rs-40-lakh-in-compensation-778328">China: Man fired for napping in office awarded Rs 4 million in compensation</a>
The NIA said that they will implement the policy immediately. 
<h2>Here's what China is offering the world in its new travel policies </h2>
The NIA added that eligible passport holders are free to get visa-free transit visiting family members, business or tourism but they will need visas for media interviews, study and work. 
It has also added 21 more ports of entry and exit which has brought the total number to 60. 
As per the new measures, travellers will be allowed to stay in 24 provincial regions during transit. The government has added five new regions to the list which includes the southern island province of Hainan, the northern province of Shanxi, the southwestern province of Guizhou and the eastern provinces of Anhui and Jiangsu.
The changes will “improve the convenience of entry … and attract more foreigners to travel, do business, visit and exchange with China”, said NIA spokesman Mao Xu on Tuesday morning (Dec 17). 
Watch: India-China: Beijing And New Delhi Signal Need For Normalised Ties 
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://cdn.thepublive.com/wion/static/kaltura_player/wion_video_player_iframe.html?thumbnail=wion/media/post_attachments/files/2024/11/20/1911_WION_INDIA_CHINA_TIES_ORG_GK_WEB-1732089475-00000003.jpg&videourl=https://vodakm.zeenews.com/vod/WION/1911_WION_INDIA_CHINA_TIES_ORG_GK_WEB.mp4/index.m3u8&duration=130&tags=China,india,China India border,Modi,Xi Jinping,WION" style="width:100%;max-width:560px;" width="560"></iframe></div>
China will also carry out the work of opening up its immigration management, “promote a larger, broader and deeper opening-up policy, and create a market-oriented, legalised, internationalised and first-class business environment”, said Mao.
In the first 11 months of 2024, China recorded a footfall of more than 29 million foreign visitors, which was a year-on-year increase of 86 per cent.
Around 60 per cent of these travellers entered China without any visa, which was a 123 per cent increase in the same period last year.
(With inputs from agencies)

The new measure will come into effect immediately in China and 21 more ports of entry and exit will be added which will increase the total number to 60



Beijing, China China has now decided to offer 10 days of visa-free travel to international travellers who are coming from 54 countries, announced the National Immigration Administration (NIA) on Tuesday (Dec 17). The NIA stated that passport holders from 54 countries, which includes Australia, Japan, the United States and countries across Europe, can now remain in some areas of mainland China for up to 10 days when transiting through one of the 60 international ports of the country. Also Read: China: Man fired for napping in office awarded Rs 4 million in compensation The NIA said that they will implement the policy immediately. Here's what China is offering the world in its new travel policies The NIA added that eligible passport holders are free to get visa-free transit visiting family members, business or tourism but they will need visas for media interviews, study and work. It has also added 21 more ports of entry and exit which has brought the total number to 60. As per the new measures, travellers will be allowed to stay in 24 provincial regions during transit. The government has added five new regions to the list which includes the southern island province of Hainan, the northern province of Shanxi, the southwestern province of Guizhou and the eastern provinces of Anhui and Jiangsu. The changes will “improve the convenience of entry … and attract more foreigners to travel, do business, visit and exchange with China”, said NIA spokesman Mao Xu on Tuesday morning (Dec 17). Watch: India-China: Beijing And New Delhi Signal Need For Normalised Ties China will also carry out the work of opening up its immigration management, “promote a larger, broader and deeper opening-up policy, and create a market-oriented, legalised, internationalised and first-class business environment”, said Mao. In the first 11 months of 2024, China recorded a footfall of more than 29 million foreign visitors, which was a year-on-year increase of 86 per cent. Around 60 per cent of these travellers entered China without any visa, which was a 123 per cent increase in the same period last year. (With inputs from agencies)

China introduces visa-free travel of 10 days for international travellers from 54 countries

#Gravitas | Indian tourists may soon be able to travel to Russia without a visa. Reports suggest, talks are currently underway between India and Russia to most likely introduce the visa-free travel system as early as the spring of 2025. Watch this video to find out more.

China has now decided to offer 10 days of visa-free travel to international travellers who are coming from 54 countries, announced the National Immigration Administration (NIA) on Tuesday (Dec 17).

The NIA stated that passport holders from 54 countries, which includes Australia,&nbsp;Japan, the United States and countries across Europe, can now remain in some areas of mainland China for up to 10 days when transiting through one of the 60 international ports of the country.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/china-man-fired-for-napping-in-office-awarded-rs-40-lakh-in-compensation-778328">China: Man fired for napping in office awarded Rs 4 million in compensation</a>

The NIA said that they will implement the policy immediately.&nbsp;

<h2>Here's what China is offering the world in its new travel policies&nbsp;</h2>

The NIA added that eligible passport holders are free to get visa-free transit&nbsp;visiting family members, business or tourism but they will need visas for media interviews, study and work.&nbsp;

It has also added 21 more ports of entry and exit which has brought the total number to 60.&nbsp;

As per the new measures, travellers will be allowed to stay in 24 provincial regions during transit. The government has added five new regions to the list which includes the southern island province of Hainan, the northern province of Shanxi, the southwestern province of Guizhou and the eastern provinces of Anhui and Jiangsu.

The changes will “improve the convenience of entry … and attract more foreigners to travel, do business, visit and exchange with China”, said NIA spokesman Mao Xu on Tuesday morning (Dec 17).&nbsp;

Watch:&nbsp;India-China: Beijing And New Delhi Signal Need For Normalised Ties&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-china-beijing-and-new-delhi-signal-need-for-normalised-ties-wion-originals-777628/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

China will also carry out the work of opening up its immigration management, “promote a larger, broader and deeper opening-up policy, and create a market-oriented, legalised, internationalised and first-class business environment”, said Mao.

In the first 11 months of 2024, China recorded a footfall of more than 29 million foreign visitors, which was a year-on-year increase of 86 per cent.

Around 60 per cent of these travellers entered China without any visa, which was a 123 per cent increase in the same period last year.

(With inputs from agencies)

China has now decided to offer 10 days of visa-free travel to international travellers who are coming from 54 countries, announced the National Immigration Administration (NIA) on Tuesday (Dec 17).

China has now decided to offer 10 days of visa-free travel to international travellers who are coming from 54 countries, announced the National Immigration Administration (NIA) on Tuesday (Dec 17). The NIA stated that passport holders from 54 countries, which includes Australia, Japan, the United States and countries across Europe, can now remain in some areas of mainland China for up to 10 days when transiting through one of the 60 international ports of the country. Also Read: China: Man fired for napping in office awarded Rs 4 million in compensation The NIA said that they will implement the policy immediately. Here's what China is offering the world in its new travel policies The NIA added that eligible passport holders are free to get visa-free transit visiting family members, business or tourism but they will need visas for media interviews, study and work. It has also added 21 more ports of entry and exit which has brought the total number to 60. As per the new measures, travellers will be allowed to stay in 24 provincial regions during transit. The government has added five new regions to the list which includes the southern island province of Hainan, the northern province of Shanxi, the southwestern province of Guizhou and the eastern provinces of Anhui and Jiangsu. The changes will “improve the convenience of entry … and attract more foreigners to travel, do business, visit and exchange with China”, said NIA spokesman Mao Xu on Tuesday morning (Dec 17). Watch: India-China: Beijing And New Delhi Signal Need For Normalised Ties China will also carry out the work of opening up its immigration management, “promote a larger, broader and deeper opening-up policy, and create a market-oriented, legalised, internationalised and first-class business environment”, said Mao. In the first 11 months of 2024, China recorded a footfall of more than 29 million foreign visitors, which was a year-on-year increase of 86 per cent. Around 60 per cent of these travellers entered China without any visa, which was a 123 per cent increase in the same period last year. (With inputs from agencies)

Amid growing Pakistani overtures to the Yunus dispensation in Bangladesh, Dhaka has decided to ease checks on the granting of visas and movement of cargo from Pakistan and Pakistanis. The move sounds alarm bells in India, reviving the spectre of Pak using Bangladesh as a base for anti-India terror as it had done frequently between 2001 and 2006. More on this in our report on Inside South Asia this week.

Bangladesh Eases Visa Checks for Pakistanis

Australia has introduced a new 'Work and Holiday' visa program for Indian nationals, aimed at strengthening ties between the two countries and promoting cultural exchange. The program allows eligible young Indians to travel to Australia for up to one year, where they can work and holiday, providing opportunities for employment, tourism, and education. This initiative is part of broader efforts to enhance people-to-people connections and support the growing demand for skilled workers in Australia. The program also reflects Australia's commitment to fostering stronger bilateral relations with India.

Australia Working Holiday Maker Visa 2024: Over 40,000 Indian Applicants In 2 Week

Australia Launches 'Work and Holiday' Visa Program For Indians

The United States has announced the admission of Qatar into its visa waiver programme. This will allow Qatari citizens to travel to the U.S. without a visa for up to 90 days. This change will take effect no later than December 1st.

Qatar Becomes First Gulf State In U.S. Visa Waiver Programme

The US Department of Justice or DOJ has made what it calls a major leap against Visa by filing a civil antitrust lawsuit. According to it, Visa maintains an illegal monopoly over debit transactions through exclusionary contracts with its partners, which has tended to stifle competition and affect the prices of goods and services across the nation as detailed in a report by CNBC.

Allegations for monopoly practices<o:p></o:p>

The Justice Department on Tuesday filed an antitrust lawsuit against Visa Inc., alleging that the company has monopolized the market for debit card transactions and unlawfully acquired and maintained monopoly power in the relevant market, Attorney General Merrick Garland said in a statement.

The company has unlawfully accumulated the power to impose fees that are considerably higher than what would be expected in a competitive marketplace, he added. This monopolistic behavior affects not only the pricing of individual items but also the increases in nearly all goods and services available to American consumers.

The DOJ said Visa has been forcing billions of extra dollars out of consumers and businesses in the way of higher merchants' prices and lower quality and service from financial institutions. It noted in this case that the costs that merchants and financial institutions are charging consumers at higher prices or in reduced quality and service are ripples affecting the economy at large.

Visa's market leadership<o:p></o:p>

Visa currently captures more than 60 per cent of debit transactions in the United States, collecting more than $7 billion in fees annually. Over the last twenty years, Visa and its smaller counterpart MasterCard have enjoyed tremendous growth and collectively boast a market capitalization nearing $1 trillion. At least this growth can be attributed to changing consumer behavior wherein such consumers use credit and debit cards both in-store and online more often than cash for any transaction.

While this large market share comes with high attention from regulators and retailers alike, the DOJ complaint describes how Visa uses its position to force an exclusionary contract network on merchants and banks. The contracts penalize clients for choosing to pass transactions through other debit networks or payment systems, solidifying Visa's grip in the marketplace.

Prior regulatory enforcement<o:p></o:p>

This is not the first one; the DOJ's lawsuit is coming in the wake of previously attempted moves to try to block the expansion of Visa. The department initiated an antitrust lawsuit in 2020 seeking to block Visa's proposed acquisition of fintech firm Plaid, with a value of $5.3 billion. The parties involved originally announced plans to fight the lawsuit but dropped their bid to buy out Plaid.

Due to their corresponding agreement in March 2024, Visa and MasterCard agreed to top off their fees and allow merchants to tack the extra fees to customers to have them use their credit cards. Estimated savings from the new agreement was around $30 billion over five years to retailers, indicating that there is growing consciousness towards doing something about practices within the payment processing industry.

Consumer and Business Implications<o:p></o:p>

The implications of this judicial process are likely to bear most significantly on the consumers as well as business practices. If successful, the antitrust action that the DOJ filed against Visa is likely to de-strengthen the current dominant character of the debit transaction market, leading to lower fees and better services for consumers.

The case against Visa is a watershed moment in the conversation to date about monopolistic practices within large industries. Given the sharpened scrutiny these massive companies are coming under from US regulatory agencies, it will likely serve as an important precedent for future payment-processing networks.

<o:p>&nbsp;</o:p>

The US Department of Justice or DOJ has made what it calls a major leap against Visa by filing a civil antitrust lawsuit. According to it, Visa maintains an illegal monopoly over debit transactions through exclusionary contracts with its partners, which has tended to stifle competition and affect the prices of goods and services across the nation as detailed in a report by CNBC.

The US Department of Justice or DOJ has made what it calls a major leap against Visa by filing a civil antitrust lawsuit. According to it, Visa maintains an illegal monopoly over debit transactions through exclusionary contracts with its partners, which has tended to stifle competition and affect the prices of goods and services across the nation as detailed in a report by CNBC. Allegations for monopoly practices The Justice Department on Tuesday filed an antitrust lawsuit against Visa Inc., alleging that the company has monopolized the market for debit card transactions and unlawfully acquired and maintained monopoly power in the relevant market, Attorney General Merrick Garland said in a statement. The company has unlawfully accumulated the power to impose fees that are considerably higher than what would be expected in a competitive marketplace, he added. This monopolistic behavior affects not only the pricing of individual items but also the increases in nearly all goods and services available to American consumers. The DOJ said Visa has been forcing billions of extra dollars out of consumers and businesses in the way of higher merchants' prices and lower quality and service from financial institutions. It noted in this case that the costs that merchants and financial institutions are charging consumers at higher prices or in reduced quality and service are ripples affecting the economy at large. Visa's market leadership Visa currently captures more than 60 per cent of debit transactions in the United States, collecting more than $7 billion in fees annually. Over the last twenty years, Visa and its smaller counterpart MasterCard have enjoyed tremendous growth and collectively boast a market capitalization nearing $1 trillion. At least this growth can be attributed to changing consumer behavior wherein such consumers use credit and debit cards both in-store and online more often than cash for any transaction. While this large market share comes with high attention from regulators and retailers alike, the DOJ complaint describes how Visa uses its position to force an exclusionary contract network on merchants and banks. The contracts penalize clients for choosing to pass transactions through other debit networks or payment systems, solidifying Visa's grip in the marketplace. Prior regulatory enforcement This is not the first one; the DOJ's lawsuit is coming in the wake of previously attempted moves to try to block the expansion of Visa. The department initiated an antitrust lawsuit in 2020 seeking to block Visa's proposed acquisition of fintech firm Plaid, with a value of $5.3 billion. The parties involved originally announced plans to fight the lawsuit but dropped their bid to buy out Plaid. Due to their corresponding agreement in March 2024, Visa and MasterCard agreed to top off their fees and allow merchants to tack the extra fees to customers to have them use their credit cards. Estimated savings from the new agreement was around $30 billion over five years to retailers, indicating that there is growing consciousness towards doing something about practices within the payment processing industry. Consumer and Business Implications The implications of this judicial process are likely to bear most significantly on the consumers as well as business practices. If successful, the antitrust action that the DOJ filed against Visa is likely to de-strengthen the current dominant character of the debit transaction market, leading to lower fees and better services for consumers. The case against Visa is a watershed moment in the conversation to date about monopolistic practices within large industries. Given the sharpened scrutiny these massive companies are coming under from US regulatory agencies, it will likely serve as an important precedent for future payment-processing networks.

US Justice Department charges Visa with illegitimate monopoly in debit transactions

The US has filed a lawsuit against Visa, accusing the financial giant of illegally stifling competition to maintain a monopoly over the debit card market. It said Visa had punished companies that wanted to use alternative payment networks and paid off potential competitors to keep its hold over the market.

US Department Of Justice Sues Visa Over Debit Card Monopoly

Visa plans to increase the number of businesses accepting digital payments in Pakistan tenfold over the next three years. Watch to know more.

Visa targets 10x digital payment growth in Pakistan

Auto giant General Motors (GM) on Thursday revealed that Alfred E. Kelly, Jr, the former chairman and CEO of Visa has been elected on its board of directors. Alfred F. Kelly, who was appointed the chairman of Visa in 2016 and served until February 2023, resigned from the company’s board in February 2024. General Motors Chair and CEO Mary Barra lauded Kelly’s choices, citing his wealth of knowledge in areas of finances, technology, and customers. “Such deep financial understanding, technology savvy, as well as customer acumen will benefit General Motors board as it opens new frontiers for profitable growth in electrification, autonomy, and connected services,” Barra said in a statement.

Kelly holds a vast experience in administration of a significant monetary innovation company and is expected to bring an invaluable viewpoint at GM as it sets out to increase its ecommerce sales and boost its technological proficiency in the production of electrical vehicles. She is likely to bring in her knowledge and influence in GM’s strategic areas including autonomous driving and digital services.

With the inclusion of Kelly, the board of directors of GM is composed of 13 members of which 12 are independent directors. This is a continuous process being undertaken within the company from time to time to improve on its governance and strategic management due to the changing environment in the automotive industry. Kelly’s appointment comes at a critical time for GM, as it seeks to pursue its aggressive strategies for electromobility and technological transformation. The auto major has been expanding its capital in electric and self-driving vehicle technologies, with the intent to establish itself as an innovator in these disruptive industries.

In summary, this combination of experience in the financial and tech sectors is expected to greatly benefit GM as the company works to remain relevant and push forward in the changing automotive market.

Auto giant General Motors (GM) on Thursday revealed that Alfred E. Kelly, Jr, the former chairman and CEO of Visa has been elected on its board of directors. Alfred F.

Auto giant General Motors (GM) on Thursday revealed that Alfred E. Kelly, Jr, the former chairman and CEO of Visa has been elected on its board of directors. Alfred F. Kelly, who was appointed the chairman of Visa in 2016 and served until February 2023, resigned from the company’s board in February 2024. General Motors Chair and CEO Mary Barra lauded Kelly’s choices, citing his wealth of knowledge in areas of finances, technology, and customers. “Such deep financial understanding, technology savvy, as well as customer acumen will benefit General Motors board as it opens new frontiers for profitable growth in electrification, autonomy, and connected services,” Barra said in a statement. Kelly holds a vast experience in administration of a significant monetary innovation company and is expected to bring an invaluable viewpoint at GM as it sets out to increase its ecommerce sales and boost its technological proficiency in the production of electrical vehicles. She is likely to bring in her knowledge and influence in GM’s strategic areas including autonomous driving and digital services. With the inclusion of Kelly, the board of directors of GM is composed of 13 members of which 12 are independent directors. This is a continuous process being undertaken within the company from time to time to improve on its governance and strategic management due to the changing environment in the automotive industry. Kelly’s appointment comes at a critical time for GM, as it seeks to pursue its aggressive strategies for electromobility and technological transformation. The auto major has been expanding its capital in electric and self-driving vehicle technologies, with the intent to establish itself as an innovator in these disruptive industries. In summary, this combination of experience in the financial and tech sectors is expected to greatly benefit GM as the company works to remain relevant and push forward in the changing automotive market.

Former Visa CEO Alfred Kelly joins General Motors' Board of Directors

Vishwa Nath Jha, the&nbsp;founder and CEO of&nbsp;Saarthi AI&nbsp;claims&nbsp;that his passport containing an American&nbsp;visa has been stolen by an ex-employee after&nbsp;the mass layoff conducted last year. This comes amid&nbsp;allegations that the company has withheld the salaries of several employees since March 2023.&nbsp;

Jha told the news agency PTI that the company had been forced to lay off several employees to become profitable. He said&nbsp;investor pressure was the main reason behind the mass layoffs. Now, the CEO claims that his passport was stolen by a former employee and it had this visa to the United States.&nbsp;

Speaking to the website Entrackr he claimed that a senior employee stole his passport, making it difficult for him to travel abroad and raise funds for the already troubled firm. Jha said, “While I managed to reissue a new passport, I am yet to get the US visa again. It’s a long queue.”&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/money-wise-how-can-indian-market-investors-be-saved-from-sudden-crises-like-hindenburg-adani-case-750619">Money-Wise: How can Indian market investors be saved from sudden crises like Hindenburg-Adani case?</a>

He also rejected the allegations against the company and said no salaries have been withheld calling it false claims to defame the company. Jha said, “We’re planning to fill key positions as it negotiates deals [business] with several banks and NBFCs.”

Last year in September, Saarthi AI reportedly conducted a mass layoff which reduced the company’s workforce to 40 employees. A report by Entrackr citing several employees said they hadn’t received their pending salaries.&nbsp;

A former employee told the website: “The firm has been holding salaries of more than 50 employees for over a year now and even didn’t reply to legal notices. ​​The founder has been unresponsive and even mentioned that he doesn’t owe us any explanation on multiple occasions.”&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/mars-to-acquire-pringles-maker-kellanova-for-nearly-36-bn-750149">Mars to acquire Pringles maker Kellanova for nearly $36 billion</a>

The company’s CEO accepted that they are not depositing the TDS of employees for the last two fiscal years.

Jha said, “The startup is still not generating surplus cash to clear long-standing dues. We have been transparent in our communications with the concerned ex-team members. We are working hard to become operationally cash flow positive by Q2 of 2024 to sustain company operations and support our current team members. Additionally, Saarthi.ai is actively in talks with investors to raise fresh capital to address outstanding debts and liabilities.”&nbsp;

(With inputs from agencies)

Vishwa Nath Jha, the founder and CEO of Saarthi AI claims that his passport containing an American visa has been stolen by an ex-employee after the mass layoff conducted last year.

Vishwa Nath Jha, the founder and CEO of Saarthi AI claims that his passport containing an American visa has been stolen by an ex-employee after the mass layoff conducted last year. This comes amid allegations that the company has withheld the salaries of several employees since March 2023. Jha told the news agency PTI that the company had been forced to lay off several employees to become profitable. He said investor pressure was the main reason behind the mass layoffs. Now, the CEO claims that his passport was stolen by a former employee and it had this visa to the United States. Speaking to the website Entrackr he claimed that a senior employee stole his passport, making it difficult for him to travel abroad and raise funds for the already troubled firm. Jha said, “While I managed to reissue a new passport, I am yet to get the US visa again. It’s a long queue.” Also Read | Money-Wise: How can Indian market investors be saved from sudden crises like Hindenburg-Adani case? He also rejected the allegations against the company and said no salaries have been withheld calling it false claims to defame the company. Jha said, “We’re planning to fill key positions as it negotiates deals [business] with several banks and NBFCs.” Last year in September, Saarthi AI reportedly conducted a mass layoff which reduced the company’s workforce to 40 employees. A report by Entrackr citing several employees said they hadn’t received their pending salaries. A former employee told the website: “The firm has been holding salaries of more than 50 employees for over a year now and even didn’t reply to legal notices. The founder has been unresponsive and even mentioned that he doesn’t owe us any explanation on multiple occasions.” Also Read | Mars to acquire Pringles maker Kellanova for nearly $36 billion The company’s CEO accepted that they are not depositing the TDS of employees for the last two fiscal years. Jha said, “The startup is still not generating surplus cash to clear long-standing dues. We have been transparent in our communications with the concerned ex-team members. We are working hard to become operationally cash flow positive by Q2 of 2024 to sustain company operations and support our current team members. Additionally, Saarthi.ai is actively in talks with investors to raise fresh capital to address outstanding debts and liabilities.” (With inputs from agencies)

CEO of Saarthi AI claims ex-employee stole his passport with US visa

The UAE’s Golden Visa: India’s rich people, who are planning to move abroad, have their eyes set on the United Arab Emirates (UAE) as their preferred destination. Dubai has become the most preferred location for people with ample wealth and money.&nbsp;

As per the report by Henley &amp; Partners, an international investment migration advisory firm, 4,400 Indian millionaires are expected to move abroad, with a majority of them preferring to relocate to Dubai, UAE. The report indicated that the UAE has become the most preferred destination for ultra-rich people.&nbsp;

The UAE’s Golden Visa: A major attraction

One of the biggest attention-seeking reasons is the UAE’s Golden Visa. It is a long-term visa programme, designed especially to attract global talent and investors. The features of UAE’s Golden Visa are designed in a way that helps in retaining international talent, offering more flexible residency options.&nbsp;

<h2>Key Highlights of the UAE Golden Visa:</h2>

Extended Residency: The visa provides an increased residence permit for 5 to 10 years without any local sponsor, and is automatically renewable.

Easy Travel: Golden visa holders can travel around the UAE with minimum restrictions. They are allowed to sponsor immediate family members.&nbsp;

Business Freedom: The visa provides 100% business ownership with no interference in choosing employers.&nbsp;

Sponsoring family and domestic workers: The visa holders have the option to sponsor their family members and have no restrictions on sponsoring any number of domestic workers.&nbsp;

<h2>UAE’s Golden Visa Eligibility Criteria:</h2>

The UAE’s golden visa is not restricted to the ultra-wealthy, but it is designed in such a way that it can attract a wide spectrum of professionals and investors.&nbsp;

Scientists and Doctors: Approval from the relevant science committees and health ministry is necessary.&nbsp;

Creative Professionals: The Department of Culture and Art’s approval is mandatory.&nbsp;

Entrepreneurs and Business Owners: Entrepreneurs can apply for UAE’s Golden Visa if they have a project valued at AED 500,00 with the required permissions.&nbsp;

Investors: Investors are required to deposit AED 2 million, own a business, or pay AED 250,000 as taxes to obtain the UAE’s Golden Visa.&nbsp;

UAE’s Golden Visa was launched in 2019 by the government, to attract wealthy people. Considerably, Dubai’s General Directorate of Residency and Foreigners Affairs (GDRFA) issued 158,000 Golden Visas in 2023 alone.&nbsp;

(With inputs from agencies)&nbsp; 
&nbsp;

The UAE’s Golden Visa: India’s rich people, who are planning to move abroad, have their eyes set on the United Arab Emirates (UAE) as their preferred destination.

The UAE’s Golden Visa: India’s rich people, who are planning to move abroad, have their eyes set on the United Arab Emirates (UAE) as their preferred destination. Dubai has become the most preferred location for people with ample wealth and money. As per the report by Henley & Partners, an international investment migration advisory firm, 4,400 Indian millionaires are expected to move abroad, with a majority of them preferring to relocate to Dubai, UAE. The report indicated that the UAE has become the most preferred destination for ultra-rich people. The UAE’s Golden Visa: A major attraction One of the biggest attention-seeking reasons is the UAE’s Golden Visa. It is a long-term visa programme, designed especially to attract global talent and investors. The features of UAE’s Golden Visa are designed in a way that helps in retaining international talent, offering more flexible residency options. Key Highlights of the UAE Golden Visa: Extended Residency: The visa provides an increased residence permit for 5 to 10 years without any local sponsor, and is automatically renewable. Easy Travel: Golden visa holders can travel around the UAE with minimum restrictions. They are allowed to sponsor immediate family members. Business Freedom: The visa provides 100% business ownership with no interference in choosing employers. Sponsoring family and domestic workers: The visa holders have the option to sponsor their family members and have no restrictions on sponsoring any number of domestic workers. UAE’s Golden Visa Eligibility Criteria: The UAE’s golden visa is not restricted to the ultra-wealthy, but it is designed in such a way that it can attract a wide spectrum of professionals and investors. Scientists and Doctors: Approval from the relevant science committees and health ministry is necessary. Creative Professionals: The Department of Culture and Art’s approval is mandatory. Entrepreneurs and Business Owners: Entrepreneurs can apply for UAE’s Golden Visa if they have a project valued at AED 500,00 with the required permissions. Investors: Investors are required to deposit AED 2 million, own a business, or pay AED 250,000 as taxes to obtain the UAE’s Golden Visa. UAE’s Golden Visa was launched in 2019 by the government, to attract wealthy people. Considerably, Dubai’s General Directorate of Residency and Foreigners Affairs (GDRFA) issued 158,000 Golden Visas in 2023 alone. (With inputs from agencies)

Key Highlights of UAE’s Golden Visa drawing the attention of India's wealthy

In a major development for millions of merchants, a federal judge has indicated that Visa and Mastercard could be on the hook for a far larger settlement than the $30 billion accord she just rejected. U.S. District Judge Margo Brodie in Brooklyn explained her thinking Tuesday in an opinion that was released last Friday, three days after the judge rejected an initial preliminary settlement calling for payment by both major credit and debit card companies.

It had aimed to resolve allegations of more than 12 million retailers who claimed they had been overcharged for so-called "swipe fees," more formally known as interchange fees, paid to process Visa and Mastercard transactions.

"Without evidence of Visa’s and Mastercard's profitability, the court cannot say with certainty that defendants can withstand a greater judgement; however, the evidence strongly suggests that they could withstand a substantially greater judgement," Brodie wrote.

The 2005 antitrust litigation can proceed to trial if a new settlement is not made. Visa criticised the decision and maintained that an agreement between them and the merchants directly serves the best interest. Even Mastercard responded, explaining that settling would serve the interest of competition, saving millions of businesses from substantive money.

This settlement would reduce the standard 1.5% swipe fee to 3.5 per cent by 0.04 percentage point for three years, cap fees for five years, and give merchants more leeway to charge customers surcharges. The judge said the settlement wasn't the "best possible" recovery. She said it kept fees far higher than they would be without the alleged antitrust violations and continued to burden merchants with the "Honor All Cards" rule, which requires them to accept all Visa and Mastercard cards if any are accepted.

Many merchants objected to the settlement, as did several trade groups including the National Retail Federation.

With the litigation lingering, the possibility remains for an even bigger settlement-one that could totally revolutionise the financial dynamics for both merchants and the credit card giants.

In a major development for millions of merchants, a federal judge has indicated that Visa and Mastercard could be on the hook for a far larger settlement than the $30 billion accord she just rejected.

In a major development for millions of merchants, a federal judge has indicated that Visa and Mastercard could be on the hook for a far larger settlement than the $30 billion accord she just rejected. U.S. District Judge Margo Brodie in Brooklyn explained her thinking Tuesday in an opinion that was released last Friday, three days after the judge rejected an initial preliminary settlement calling for payment by both major credit and debit card companies. It had aimed to resolve allegations of more than 12 million retailers who claimed they had been overcharged for so-called "swipe fees," more formally known as interchange fees, paid to process Visa and Mastercard transactions. "Without evidence of Visa’s and Mastercard's profitability, the court cannot say with certainty that defendants can withstand a greater judgement; however, the evidence strongly suggests that they could withstand a substantially greater judgement," Brodie wrote. The 2005 antitrust litigation can proceed to trial if a new settlement is not made. Visa criticised the decision and maintained that an agreement between them and the merchants directly serves the best interest. Even Mastercard responded, explaining that settling would serve the interest of competition, saving millions of businesses from substantive money. This settlement would reduce the standard 1.5% swipe fee to 3.5 per cent by 0.04 percentage point for three years, cap fees for five years, and give merchants more leeway to charge customers surcharges. The judge said the settlement wasn't the "best possible" recovery. She said it kept fees far higher than they would be without the alleged antitrust violations and continued to burden merchants with the "Honor All Cards" rule, which requires them to accept all Visa and Mastercard cards if any are accepted. Many merchants objected to the settlement, as did several trade groups including the National Retail Federation. With the litigation lingering, the possibility remains for an even bigger settlement-one that could totally revolutionise the financial dynamics for both merchants and the credit card giants.

Visa and Mastercard face potentially higher settlement in swipe fee dispute

Visa Inc. and Mastercard Inc. have agreed to pay $197 million to resolve a class-action lawsuit filed by millions of consumers. The complaint accused financial payment companies of maintaining unreasonably high cash access costs.<o:p></o:p>

The plaintiffs' lawyers announced the potential settlement in a filing in federal court in Washington DC on Wednesday. The compensation applies to customers who have withdrawn money from bank-operated ATMs since 2007. Two more related class actions involving non-bank ATM users and firms who own independent ATMs are currently proceeding in the same court.<o:p></o:p>

The settlement needs to be approved by the court. Visa will contribute $104.6 million, while Mastercard will pay $92.8 million, according to the settlement papers. Previously, the case's bank defendants agreed to a $66 million settlement. Both Visa and Mastercard have denied any wrongdoing and have yet to reply to demands for comment.<o:p></o:p>

The plaintiffs' lawyers asserted that the settlement will "deliver immediate and assured relief" to the impacted consumers.<o:p></o:p>

The plaintiffs in the three connected actions claimed that Visa and Mastercard's ATM network rules caused them to pay excessive access fees. They were demanding more than $9 billion in damages.<o:p></o:p>

The settlement comes after the US Supreme Court rejected Visa and Mastercard's appeal in April. The firms had contested a lower court's decision to enable the plaintiffs to sue as a class. Visa and Mastercard argued that the judge did not perform a "rigorous analysis" before certifying the class actions.<o:p></o:p>

The proposed settlement class is projected to have at least 175 million members. Consumers will be able to object to the conditions of the settlement, including the settlement fund amount and any legal expenses granted.<o:p></o:p>

Visa and MasterCard are also involved in a second, ongoing legal case in Brooklyn federal court. The complaint contains charges that the corporations overcharged retailers and others for debit and credit card transactions.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Visa Inc. and Mastercard Inc. have agreed to pay $197 million to resolve a class-action lawsuit filed by millions of consumers. The complaint accused financial payment companies of maintaining unreasonably high cash access costs.

Visa Inc. and Mastercard Inc. have agreed to pay $197 million to resolve a class-action lawsuit filed by millions of consumers. The complaint accused financial payment companies of maintaining unreasonably high cash access costs. The plaintiffs' lawyers announced the potential settlement in a filing in federal court in Washington DC on Wednesday. The compensation applies to customers who have withdrawn money from bank-operated ATMs since 2007. Two more related class actions involving non-bank ATM users and firms who own independent ATMs are currently proceeding in the same court. The settlement needs to be approved by the court. Visa will contribute $104.6 million, while Mastercard will pay $92.8 million, according to the settlement papers. Previously, the case's bank defendants agreed to a $66 million settlement. Both Visa and Mastercard have denied any wrongdoing and have yet to reply to demands for comment. The plaintiffs' lawyers asserted that the settlement will "deliver immediate and assured relief" to the impacted consumers. The plaintiffs in the three connected actions claimed that Visa and Mastercard's ATM network rules caused them to pay excessive access fees. They were demanding more than $9 billion in damages. The settlement comes after the US Supreme Court rejected Visa and Mastercard's appeal in April. The firms had contested a lower court's decision to enable the plaintiffs to sue as a class. Visa and Mastercard argued that the judge did not perform a "rigorous analysis" before certifying the class actions. The proposed settlement class is projected to have at least 175 million members. Consumers will be able to object to the conditions of the settlement, including the settlement fund amount and any legal expenses granted. Visa and MasterCard are also involved in a second, ongoing legal case in Brooklyn federal court. The complaint contains charges that the corporations overcharged retailers and others for debit and credit card transactions. (With inputs from Reuters)

Visa and Mastercard settle ATM fee lawsuit for $197 million

The United Arab Emirates announced a 10-year blue residency visa. Blue Visa would be designed for individuals with exceptional contributions to the UAE’s environmental efforts.

All you need to know about UAE's Blue Residency visa

In a financial landscape where uncertainty often plays the wild card, visa's latest earnings report dealt a winning hand, revealing insights into consumer sentiment that are nothing short of aces. The report showcased a resilient consumer base boldly swiping their cards for everything from globetrotting adventures to fine dining escapades.

What Visa's earnings say about consumer sentiment

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