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Sensex trades flat; IT index firm
The Sensex touched a high of 16,943 and is now flat at 16,931, up 18 points.

Russian gas exports over 37 per cent down in Jan-July 2009
Russian gas exports dropped by 37.7 per cent to 69.5 billion cubic meters in January-July 2009, as compared to the previous year, the Federal Customs Service has said.

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Asian markets end in green
Asian markets ended in the green today. The Hang Seng, dropped from its intra-day high to end with a gain of 115 points at 22,412.
Small Business

For now, no change likely in US immigration policy

Indian IT companies will have to be content with the existing visa options for the United States as the US Congress, the country’s highest lawmaking body, is unlikely to take up the issue of immigration reform in the short-term. - US Congress imposes new restrictions on aid to Pak - INVESTING: Paras Adenwala - Govt orders audits of IT firms for possible STPI Act violations - T N Ninan: Picking winners">T N Ninan: Picking winners - WB govt offers 45 acre to Wipro, Infosys - Alpari India eyes Rs 200 cr daily trading volumes Presently, Indian and multinational technology firms primarily rely on H1B and L1 visas for sending Indian passport-holding employees to work in the US. However, this practice has recently come under the scanner as the American government attempts at protecting the employment opportunities for its domestic workforce, which is reeling under the impact of the slowdown. Though the Barack Obama-led administration is interested in undertaking certain modifications to the existing visa regime, changes to the immigration policy will require an amendment to the existing legislation, US Assistant Secretary of State for Consular Affairs Janice L Jacobs said here on Thursday. “Reforming the immigration policy was under consideration by the earlier (George W. Bush) administration and is something that the US Congress will take up sometime in the future. We don"t know when this will happen but President Obama is interested in the matter,” Jacobs said. While the US Congress is currently debating over health care reforms that Obama wants to push through, climate change could be the next issue of discussion that the legislative body takes up, she explained. After facing criticism from certain sections of US lawmakers for allegedly misusing immigration visa, Nasscom — the Indian IT industry’s apex body — had recommended the introduction of a service visa or work permit allowing foreign nationals to visit the country with relation to their jobs for a temporary period.


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