U.S. Alters H-1B Visa Process; BP Divests $10.1B Lubricants Business; Bharti and Warburg Acquire Haier India Stake
DEFENSE
The U.S. government has revised the H-1B visa process to prioritize higher-skilled and higher-paid applicants, potentially increasing costs for Indian IT firms. BP announced the sale of its lubricants business for $10.1 billion as part of a broader divestment strategy, while Bharti Enterprises and Warburg Pincus acquired a 49% stake in Haier India to enhance local manufacturing. Additionally, CoreEL Technologies raised $30 million for defense tech expansion, and Godavari Biorefineries launched a new U.S. subsidiary to strengthen its biotechnology presence.

Dec 26, 2025, 8:47 AM