Word: visa
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...permanent resident of the city. Over the years, Weckherlin has hopped into China more than 300 times to visit factories belonging to his company which are spread across four provinces. But now, after years of doing business in China, he finds himself stymied in his efforts to renew his visa at the mainland?s issuing office in Hong Kong. "It's a slap in the face," he says, one that is being felt by hundreds, if not thousands, of other foreign businessmen living in Hong Kong. Instead, all that longstanding China travelers like Weckherlin are being granted are visas with...
Applying for a visa to the United States just got even harder. Last week, the Federal Register outlined new and increased prices for visa applications. Those wanting to apply for academic or vocational visas (F, J, and M visas) may have to pay up to $200 when these changes take effect on October 1, the start of the fiscal year of 2009. Not only do these increases heighten already problematic economic barriers for international visitors, but their purpose—to upgrade a federal surveillance program —reflects an abhorrently nativist governmental view toward non-immigrant visitors...
...stay. The rule also states that the students must be working for a U.S. employer in a job directly related to the student’s major area of study to qualify. Former University President Lawrence H. Summers said that the new measures are appropriate and liberalization of visa rules for foreign students is desirable. “We were doing a lot of damage to how the rest of the world viewed us as consequence of our unreasonably restricted visa policies,” Summers said. Summers said he worked to make University policies toward international students more reasonable...
Perhaps the biggest reason that Visa's IPO price soared from $44 to $60 a share by noon on its first day of trading is simply that the company has massive growth potential, especially internationally. Visa Europe will remain a separate company for now, but "in the developing world, we are just scraping the surface," says Clifford Tan, an economist and visiting scholar at the Stanford Center For international Development. Visa's U.S. revenue grew a healthy 23% in fiscal year 2007, but its international revenue soared 57% over 2006. And as formerly cash-based economies in South Korea, China...
...auspicious sign, too, that Visa's biggest competitor, MasterCard, which went public at $39 a share in 2006, is now trading at over $200 and has a market cap of more than $27 billion. That's about $10 billion above what Visa Inc. just raised with its IPO - and Visa is the market leader with 40% higher earnings than MasterCard. It doesn't take a math whiz to see why Wall Street is all charged up on the king of cards...