Funds held by Indian clients in Swiss banks plummeted by 70% in 2023 to CHF 1.04 billion (Rs 9,771 crore), hitting a four-year low, according to the Swiss National Bank. This sharp decline follows a peak of CHF 3.83 billion in 2021. The reduction spans customer deposits, bonds, securities, and funds through other banks. Despite historic concerns about black money, Swiss authorities clarify that the figures represent legitimate holdings, with active cooperation to curb tax fraud. This trend mirrors a global decline in foreign deposits, with India ranking 67th among nations with funds in Swiss banks.

A new H-1B visa rule proposed by U.S. Citizenship and Immigration Services (USCIS) is expected to introduce significant changes for employers and skilled professionals. Set to be published on July 8 for public comment, the rule would restrict H-1B eligibility by redefining specialty occupations to those with degrees directly related to specific jobs, reviving a controversial Trump-era provision. Business administration degrees may no longer qualify as sufficient for H-1B status. Additionally, the Department of Homeland Security plans to impose higher extension fees: $4,000 for H-1B and $4,500 for L-1 visas, potentially impacting hiring practices and international MBA enrollments.

A Saudi diplomat reported that 68 Indian nationals died during this year's Hajj pilgrimage in Mecca, bringing the total death toll to 645. Many deaths were due to natural causes and extreme heat. Among the dead were also 323 Egyptians and 60 Jordanians. Fatalities were confirmed by countries including Indonesia, Iran, Senegal, and Tunisia. Saudi Arabia has not released official fatality numbers but noted over 2,700 cases of heat exhaustion on Sunday. The diplomat mentioned that some Indian pilgrims are still missing, with further details expected soon.

Canada's Parliament observed a moment of silence for Khalistani terrorist Hardeep Singh Nijjar on the first anniversary of his death. Nijjar was killed in a targeted shooting in Surrey, Canada. India reacted by announcing a memorial for the 329 victims of the 1985 Air India bombing. Nijjar, listed as a terrorist by India, led the Khalistan Tiger Force. His activities strained India-Canada relations. Despite Nijjar's controversial past, Canadian Prime Minister Justin Trudeau called him a Canadian national. India has repeatedly voiced concerns over Nijjar’s actions, including his involvement in the 2017 Ludhiana blast.

The Hinduja family, Britain's wealthiest, is on trial in Switzerland accused of human trafficking for allegedly mistreating Indian household staff. Prosecutors claim they paid a staff member just 7 Swiss francs (£6.19) for an 18-hour workday while spending 8,584 francs (£7,616) annually on their pet dog. The trial includes accusations of passport seizure and confinement of staff. Despite denying allegations, the Hindujas could face over five years in jail if convicted. The family, worth over £37 billion, is renowned for their business empire and luxury properties. The trial's outcome could impact their standing and legal obligations significantly.

Canadian Prime Minister Justin Trudeau met with Indian Prime Minister Narendra Modi at the G7 Summit in Italy. This was their first meeting since Trudeau's allegations last year about Indian agents' involvement in the killing of Hardeep Singh Nijjar. Trudeau expressed optimism about engaging with India's new government on economic ties and national security. He acknowledged ongoing cooperation in the Nijjar murder probe. Modi shared a photo of the meeting on social media. India had previously dismissed Trudeau's allegations and urged Canada to act against pro-Khalistan elements. The Royal Canadian Mounted Police are investigating Nijjar's murder.

National Security Advisors Ajit Doval and Jake Sullivan emphasized the need for the US and India to lead in critical technologies. Speaking at the iCET roundtable in New Delhi, Doval highlighted the progress in AI, semiconductors, and defense. Sullivan noted the importance of innovation, production, and deployment in tech partnerships. Both leaders assured support for industry collaboration, aiming to enhance India-US ties in emerging technologies. Launched in 2022 by Prime Minister Modi and President Biden, iCET seeks to boost cooperation in critical tech sectors. Sullivan's visit marks the first by a senior US official since Modi's third term began.

An Indian worker has died after collapsing during maintenance work on the Sinamale' Bridge in the Maldivian capital. The incident occurred on Monday night when the worker, who was employed by China Communications Construction Company (CCCC), suddenly felt dizzy and collapsed. He was rushed to a nearby hospital but was pronounced dead on arrival. This is the second worksite accident in the Maldives involving an Indian national since May. The incident highlights the risks faced by foreign workers in the country's construction industry. An investigation into the incident is underway.

Former South Korean First Lady Kim Jung-sook has filed a defamation suit against ruling party lawmaker Rep Bae Hyun-jin for spreading false information about her 2018 solo trip to India. Kim accuses Bae of falsely claiming that her trip cost the state 230 million won (USD 166,400), including 62 million won spent on in-flight meals. The lawsuit marks a significant development in a contentious issue that has sparked political tensions in South Korea. Kim, wife of ex-President Moon Jae-in, is seeking legal action through the police, according to a statement from the main opposition Democratic Party.

Nikhil Gupta, an Indian national, pleaded not guilty in a New York federal court to charges of conspiring to kill Khalistani terrorist Gurpatwant Singh Pannun on US soil. Gupta, 52, was extradited from the Czech Republic and accused of collaborating with an Indian official. He was denied bail and will remain detained until his next court appearance on June 28. His lawyer, Jeffrey Chabrowe, called the case "complex" and vowed a vigorous defense. The plot's target, Pannun, is an American citizen and a prominent Khalistani separatist leader.