SAN FRANCISCO: Nearly two dozen major companies in technology and other industries are planning to launch a coalition to demand legislation that would allow young, illegal immigrants a path to permanent residency, according to documents seen by Reuters.
The Coalition for the American Dream intends to ask Congress to pass bipartisan legislation this year that would allow these immigrants, often referred to as “Dreamers,” to continue working in the US, the documents said.
Alphabet Inc’s Google, Microsoft, Facebook, Intel, Uber Technologies, IBM, Marriott International and other top US companies are listed as members, one of the documents shows.
Intel, Uber and Univision Communications confirmed their membership, but the other companies did not immediately comment. It is possible that plans to launch the group could change.
“We’re pleased to join with other organizations in urging Congress to pass legislation to protect Dreamers,” Intel spokesman Will Moss said in a statement.
Matthew Wing, a spokesman for Uber, said, “Uber joined the Coalition for the American Dream because we stand with the Dreamers. We’ve also held town halls, provided legal support and launched an online Dreamer Resource Center for any of our drivers.”
The push for this legislation comes after President Donald Trump’s September decision to allow the Deferred Action for Childhood Arrivals (DACA) program to expire in March. That program, established by former President Barack Obama in 2012, allows approximately 900,000 illegal immigrants to obtain work permits.
Some 800 companies signed a letter to Congressional leaders after Trump’s decision, calling for legislation protecting Dreamers. That effort was spearheaded by a pro-immigration reform group Facebook CEO Mark Zuckerberg co-founded in 2013 called FWD.us.
Many of the companies that endorsed that letter are named as joining the new coalition. The group had planned to take out ads in news publications, though this is subject to change, according to an email last week seen by Reuters.
“Dreamers are part of our society, defend our country, and support our economy,” said one of the coalition documents, which is being shared by the group to recruit additional companies.
A signup form for the group said 72 percent of the top 25 Fortune 500 companies employ DACA recipients.
Trump campaigned for president on a pledge to toughen immigration policies and build a wall along the US border with Mexico. He has left the fate of DACA up to Congress.
Action may come in December, when Congress must pass a spending bill to keep the US government open. Democrats have considered insisting on help for the Dreamers as their price for providing votes that may be required to prevent a government shutdown.
“No politician wants to go home for the holidays and read stories about how this is going to be DACA recipients’ last holidays in the US,” said Todd Schulte, president of FWD.us, in an interview earlier on Thursday. He declined to comment on the new coalition.
“You will see this continue to escalate until the end of the year,” he said.
— Reuters
Valley lobbies to keep ‘Dreamers’
Valley lobbies to keep ‘Dreamers’
Closing Bell: Saudi main index extends gains as market opens wider to foreign investment
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 153.61 points, or 1.38 percent, to close at 11,321.09.
The total trading turnover of the benchmark index was SR5.85 billion ($1.56 billion), as 207 of the listed stocks advanced, while 55 retreated.
The MSCI Tadawul Index increased, up 21.20 points or 1.41 percent, to close at 1,524.18.
The Kingdom’s parallel market Nomu gained 278.13 points, or 1.17 percent, to close at 24,013.03. This comes as 43 of the listed stocks advanced, while 29 retreated.
The best-performing stock was Saudi Pharmaceutical Industries and Medical Appliances Corp., with its share price surging by 7.26 percent to SR28.94.
Other top performers included Rasan Information Technology Co., which saw its share price rise by 6.51 percent to SR144, and Knowledge Economic City, which saw a 6.25 percent increase to SR13.09.
On the downside, the worst performer of the day was Najran Cement Co., whose share price fell by 2.11 percent to SR6.49.
Almasane Alkobra Mining Co. and Saudi Cable Co. also saw declines, with their shares dropping by 2 percent and 1.88 percent to SR103.10 and SR166.80, respectively.
On the announcement front, Riyad Bank has announced its annual financial results for 2025, with the total income from special commission of financing reaching SR24.1 billion, while net income from special commission of financing amounted to SR12 billion.
In a statement on Tadawul, the bank said: “Net income increased by 11.7 percent mainly due to an increase in total operating income and a decrease in total operating expenses.”
The bank further noted that the rise in total operating income was primarily driven by increased revenue from fees and commissions, trading activities, special commissions, gains on non-trading investments, and other operating sources. This growth was partially tempered by declines in exchange and dividend income.
“Net provision of expected credit losses and other losses decreased by 15.8 percent due to a decrease in impairment charge of credit losses and impairment charge for other financial assets, partially offset by an increase in impairment charge for investments,” it added.
RIBL’s share price closed at SR18.18 on the main market, marking a 1.43 percent increase.
