International Business Opportunities

US officials have written to nine Indian firms based in the US, asking them to account for their workforce, and explain how the visas were granted.
The US authorities are concerned that the Indian companies are trying to avoid hiring skilled American workers.

US authorities grant a total of 65,000 temporary working visas every year. (see H-1B Visa Now Just a Critical Tool for Indian Outsourcing Vendors)

However, in recent months, the US has become concerned that many companies are bringing over lower-paid Indian workers at the expense of the more expensive Americans.
In the past few years, the US has been urging India to open up its own economy to American businesses.
Many US companies have come to India, lured by the fortunes of firms that have flourished because of the strength of the Indian economy.
(
source: BBC)

The European Union will eliminate most of the remaining customs charges on imports from 78 former colonies in Africa, the Caribbean and Pacific in an effort to fuel the commodity-dependent economies.

The EU’s trade arrangements with the group of developing countries expire on Jan. 1. Today’s decision to increase access to the European market, backed by ministers meeting in Brussels, also ends limits on the volume of exports to the 27-nation bloc. […]

EU imports of commodities from 49 of the world’s poorest countries, excluding sugar, bananas and rice, have been tariff- free and unlimited in volume since 2001. That agreement excluded 37 ACP countries.
(source)

United Arab Emirates and Netherlands signed yesterday in Abu Dhabi a double taxation avoidance agreement.

The agreement means that companies will pay tax only in their home country, avoiding double taxation. Tax waiver agreements exempt countries from paying tax on income and capital in both countries.

The minister said the pact would enhance bilateral economic, commercial and tourism relations and would accelerate the flow of investments into the two countries.
(source)

Australia is to admit more skilled migrant workers to help ease its labour shortage while cracking down on firms which mistreat foreign staff.

An extra 5,000 places for skilled migrants were unveiled by ministers as part of the government’s annual budget.
New powers are also being sought to fine firms which underpay workers or place them in unskilled jobs.
[…]workers will have to prove they can speak reasonable English as well as take a new citizenship test coming into force later this year.

To help employers recruit staff quickly, companies which comply scrupulously with the migrant visa system will have their applications fast-tracked.

The European Union has halved its import duty on nonalloyed raw aluminium to 3% from 6% in a bid to boost deliveries from Russia.

The EU said in an official statement that the decision was reached on Monday.
It said the partial suspension of the tariff would come into force “three days following its publication in the EU Official Journal, in the coming days.” The duty “will be reviewed in three years in order to take into account possible future changes in the aluminium market situation,” the statement said.
(source)