KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Gold Card to Replace EB-5 Visa Program
- Trump announced plans to replace the EB-5 investor visa program with a new "Gold Card" priced at US$5 million as a route to U.S. citizenship.
- The EB-5 program currently grants green cards to foreign investors who create or preserve U.S. jobs.
- The new Gold Card would offer green card privileges and a direct path to U.S. citizenship.
Trump’s Justification for the Change
- Trump called the EB-5 program "full of nonsense, make-believe, and fraud", arguing it was a cheap way to obtain U.S. residency.
- Commerce Secretary Howard Lutnick said the new plan would ensure only wealthy investors gain U.S. entry.
Potential Eligibility & Controversy
- When asked if Russian oligarchs could qualify, Trump responded, "Yeah, possibly. I know some Russian oligarchs that are very nice people."
- Critics may question whether the policy favors ultra-wealthy elites over job-creating investors.
What’s Next?
- Trump said full details of the Gold Card program will be released in two weeks.
Summary:
- Trump proposes replacing the EB-5 visa with a US$5 million "Gold Card" that grants green card privileges and a path to citizenship.
- Move aims to attract ultra-wealthy investors while eliminating alleged fraud in the EB-5 program.
- Russian oligarchs and other foreign elites may be eligible, raising potential controversy.
- More details to be announced in two weeks.
Comments
Post a Comment