Thursday October 18, 2018
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US sends 18 more Indian students back

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Hyderabad: Eighteen more Indian students from Telangana and Andhra Pradesh returned Hyderabad on Saturday after being deported by the American authorities.

The students, who had gone to the US to join various universities, were sent back from New York airport after cancelling their visas. They returned to Hyderabad airport by three different airlines.

They complained of interrogation and ill-treatment by the officials of US Customs and Border Protection at John F Kennedy Airport International Airport, though all their documents were valid.

The students said they were detained for several hours without drinking water and food.

One of the students said though it was freezing temperature, the officials did not heed to their request to switch off the fans. He said the officers carrying guns subjected them to interrogation.

They said the officials threatened to bar their entry into the US for five years if they fail to withdraw and return home.

The students claimed that no reason was given for not sending them back though they gave the satisfactory reply to all the questions asked and despite possessing all valid documents.

“One officer said he was doing this on the boss’ order,” said a student, who did not wish to be named.

Another student who had gone to join Northwestern Polytechnic University, California said the officers told him that there is a problem with his visa. “They asked me if I bought the visa,” he said.

The student was told that if he wanted he could apply again for admission into another university and come back.

Students, who had taken admissions in other universities, were also sent back. The officials were not convinced when students pointed out that the institutions were not blacklisted by the US authorities.

This is the latest in a series of incidents in recent months in which students from the two Telugu states were sent back either after landing in the US or from destinations en route like Abu Dhabi and Dubai.

About 90 students, who had left after completing all formalities including admission letters from the universities, were sent back during last three to four months.

As many as 14 students, who had taken admission at two California universities, were sent back from San Francisco on December 19. The next day Air India stopped another batch of 15 students from boarding the San Francisco flight at Hyderabad airport.

With their dreams of getting higher education in the US shattered and their parents suffering huge financial loss, they have urged the government of India to intervene and save their future.(IANS)

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Saudi Arabia’s Sovereign Fund Invested $1 Billion In An American Electric Car Manufacturer

Saudi Arabia's 33-year-old Crown Prince Mohammed bin Salman has talked about using the PIF to help diversify the economy of the kingdom.

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lucid motors
Derek Jenkins, VP of Design at Lucid Motors, introduces the alpha prototype of the Lucid Air at the 2017 New York International Auto Show in New York City. VOA

Saudi Arabia’s sovereign wealth fund invested $1 billion Monday in an American electric car manufacturer just weeks after Tesla CEO Elon Musk earlier claimed the kingdom would help his own firm go private.

Tesla stock dropped Monday on reaction to the news, the same day that the Saudi fund announced it had taken its first loan, an $11 billion borrowing from global banks as it tries to expand its investments.

The Saudi Public Investment Fund said it would invest the $1 billion in Newark, California-based Lucid Motors.

Lucid Motors
Lucid Motors. Flickr

The investment “will provide the necessary funding to commercially launch Lucid’s first electric vehicle, the Lucid Air, in 2020,” the sovereign wealth fund said in a statement. “The company plans to use the funding to complete engineering development and testing of the Lucid Air, construct its factory in Arizona, enter production for the Lucid Air to begin the global rollout of the company’s retail strategy starting in North America.”

Lucid issued a statement quoting Peter Rawlinson, its chief technology officer, welcoming the investment.

“At Lucid, we will demonstrate the full potential of the electric-connected vehicle in order to push the industry forward,” he said.

The decision comes after Musk on Aug. 7 tweeted that he had “funding secured” to take Tesla private. Investors pushed Tesla’s shares up 11 percent in a day, boosting its valuation by $6 billion.

Lucid Motors
Electric Car

There are multiple reports that the U.S. Securities and Exchange Commission is investigating the disclosure, including asking board members what they knew about Musk’s plans. Experts say regulators likely are investigating if Musk was truthful in the tweet about having the financing set for the deal. Musk later said the Saudi Public Investment Fund would be investing in the firm, something Saudi officials never comment on.

Meanwhile Monday, the sovereign wealth fund known by the acronym PIF said it had taken its first loan, an $11 billion borrowing. It did not say how it would use the money, only describing it as going toward “general corporate purposes.”

Also Read: Electric Cars: The Newest Trend in India

The Las Vegas-based Sovereign Wealth Fund Institute estimates the Saudi fund has holdings of $250 billion. Those include a $3.5 billion stake in the ride-sharing app Uber.

Saudi Arabia’s 33-year-old Crown Prince Mohammed bin Salman has talked about using the PIF to help diversify the economy of the kingdom, which relies almost entirely on money made from its oil sales. (VOA)