State Bank of India expects to gather USD 10 billion from non-residents and foreign investors. The bank's total business aims to reach Rs 200 lakh crore by 2030. This ambitious target aligns with the country's economic growth projections. SBI's balance sheet could potentially double every six years. The bank's operations are closely linked to India's economic performance.
The US Treasury and IRS have proposed new rules restricting the refundable portion of four federal tax credits to US citizens, nationals and qualified non-citizens, including green card holders, refugees and asylees. The proposal covers the child tax credit, earned income tax credit, American opportunity tax credit and adoption tax credit.
Rising global tensions prompt Non-Resident Indians to return home, working remotely. This shift creates tax concerns as physical presence in India can trigger tax liability. Indian tax laws consider days spent in the country to determine residential status. Even short stays can lead to taxation on income earned locally. Professionals must understand these rules to avoid unexpected tax burdens.
Geopolitical tensions have slowed large commercial property deals in Dubai, with transaction value falling 21% in the June quarter. However, office demand remains strong amid limited supply, with office transaction value nearly tripling as investors favour smaller deals.
Dubai’s residential property market is cooling after a five-year rally as buyers become more price-sensitive, negotiate harder and shift toward smaller, lower-cost homes amid higher supply and geopolitical uncertainty. While prices remain higher year-on-year, they have softened quarterly, with annual growth slowing sharply from 17–18% in 2024 to around 4–5%.
State Bank of India expects to gather USD 10 billion from non-residents and foreign investors. The bank's total business aims to reach Rs 200 lakh crore by 2030. This ambitious target aligns with the country's economic growth projections. SBI's balance sheet could potentially double every six years. The bank's operations are closely linked to India's economic performance.
Small towns now lead India's foreign exchange demand, surpassing major cities. This shift indicates rising prosperity and global lifestyle choices among their residents. Consumers from these areas are increasingly spending on international travel and education. This trend reflects a significant evolution in India's domestic consumption patterns. The financialization and digital adoption in these towns are also growing rapidly.
The Trump administration has paused global visa appointments for training purposes. This action is part of an ongoing immigration crackdown by the U.S. government. Consular officers will receive training to screen applicants more thoroughly. Human rights groups have condemned the crackdown as discriminatory and violating rights. The administration has also made legal immigration more difficult through new fees.
Countries are not shutting out immigrants but becoming more selective about whom they admit and allow to stay. Recent policies increasingly favour skilled, higher-paid, financially secure migrants who meet labour shortages, while lower-paid workers and students face tougher barriers despite their economic importance.
