US spending bill - watch out the Tech cos

The US House (White House) has passed the USD 1.15 trillion Spending Bill. This Bill extends the US government funding through September 2016, and lifts the 40 year old oil export ban.

But with the passage of this Bill, Indian IT companies now stare at a USD 400 million visa bill.

 

darth, so the expenses of indian i t co.s on visa will go up. margins will be reduced. is there any other news?

 

Sure there is. See tge other thread on cement prices

 

The hike in visa fees by up to $4,500 will not have an impact on the growth of the Indian IT industry, Infosys founder N R Narayana Murthy said today

Margin Impact could be 40bps which the industry can deal with...so it is believed

 

nice editorial on the same in today's ET
smaller firms will be affected, but can't help it
another show of Uncle Sam's might

looks like some more downward pressure for oil, US has been adding capacity and increasing output all the while over the last few years and the Saudis have also not cut production despite OPEC members asking for it for a long time now, Iran is adding to the output after the sanctions were lifted
new exploration at current prices become financially unviable with the huge exploration costs

what's your take on ONGC & OIL?