The Trump administration has announced a new policy that makes very tough the procedure of issuing H-1B visas to those to be employed at one or more third-party worksites, a move that will hugely impact Indian IT companies and their employees.

Under the new policy, the company would have to go an extra length to prove that its H-1B employee at a third-party worksite has specific and non-qualifying speculative assignments in speciality occupation.

Infosys shareholders have approved the appointment of Salil S Parekh as chief executive officer and managing director of the company, the company has said in a regulatory filing.

As per results of postal ballot and e-voting filed by the IT major, 97.96 per cent shareholders through the physical ballot and electronic mode voted in favour of the appointment of Parekh on February 20, 2018.

After a successful pilot, Coca-Cola has decided to expand its frozen fruit dessert offering in major metros. This is part of the company's strategy to build a portfolio beyond carbonated drinks.

Coca-Cola India president T Krishnakumar said that the company planned to take the offering to the top five metros by this summer. The company has been testing this product in Bengaluru. Similarly, the company is also planning to come out with a few value-added dairy-related products, which are more ready-to-drink beverages, by the second half of 2018.

German luxury carmaker BMW will roll out Bharat Stage (BS)-VI petrol cars in the country in April this year. It will become the first carmaker after Mercedes Benz to introduce low-emission vehicles. The company, which managed to grow volumes by 25 per cent in 2017, is confident of posting high growth in 2018.

“All our petrol car models will move to BS-VI emission norms in April. I do not need a policy for that but an incentive would have helped.

Indian refiner Essar Oil is looking to raise over $1 billion from trading houses after its new Russian owners could not raise loans from major Western banks due to sanctions on Russia.

Essar wants to borrow the money for 3-4 years and repay it with cargoes of refined products as it seeks to cut its reliance on lending from Indian banks, banking and trading sources familiar with the discussions said.

The Securities and Exchange Board of India (Sebi) is planning checks and balances on overseas investors taking the ‘private bank route’ to invest in domestic markets.

The move comes after several industry players expressed concerns that the new route allowed by the Sebi could be misused by investors, such as participatory notes (p-notes).

On a rapid expansion mode mobile fintech major Paytm has launched two more firms with an aim to enter the insurance sector in the country.

This move has taken its total count of companies to six.

MUMBAI: State-owned PNB on Thursday said it has followed lawful avenues to recover its dues following Rs 11,400 crore swindling of funds allegedly by jewellery designer Nirav Modi and associates.

The country's second largest public sector lender also reaffirmed that it has enough assets to meet any liability.

Telecom Minister Manoj Sinha today said there are no plans at present to merge BSNL and MTNL, but asserted that the strategic plan outlined for promoting synergy among state-owned telecom firms will strengthen and benefit both the organisations. “There is no thinking in government on merging the two. But we are taking steps to ensure that collaboration between MTNL (Mahanagar Telephone Nigam Ltd) and BSNL (Bharat Sanchar Nigam Ltd) strengthens and benefits both the organisations,” Sinha said.

The Securities and Exchange Board of India (Sebi) plans to tighten present Alternative Investment Funds (AIF) regulations to better monitor the source of funding and their end use.

According to sources, Sebi may check the anti-money laundering policies implemented by AIFs and examine the sanctity of any back-end arrangements an AIF may have with its investors, whereby money raised in AIFs is invested back in entities owned by the investors.

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