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highlights
US top court lets Donald Trump's latest travel ban go into full effect
The US Supreme Court on Monday handed a victory to President Donald Trump by allowing his latest travel ban targeting people from six Muslim-majority countries to go into full effect even as legal challenges continue in lower courts, reports Reuters.
The nine-member court, with two liberal justices dissenting, granted his administration’s request to lift two injunctions imposed by lower courts that had partially blocked the ban, which is the third version of a contentious policy that Trump first sought to implement a week after taking office in January.
The high court’s action means that the ban will now go fully into effect for people from Chad, Iran, Libya, Somalia, Syria and Yemen seeking to enter the United States. The Republican president has said the travel ban is needed to protect the United States from terrorism by Islamic militants.
OPEC oil output falls in November to lowest since May
OPEC oil output fell in November by 300,000 barrels per day (bpd) to its lowest since May, a Reuters survey found, pressured by a drop in Angolan and Iraqi exports, strong compliance with a supply cut deal and involuntary declines. OPEC’s adherence to pledged supply curbs rose to 112% from October’s 92%, the survey found.
Top exporter Saudi Arabia pumped below its OPEC target, as did all other members except Ecuador, Gabon and the United Arab Emirates. The Organisation of the Petroleum Exporting Countries is reducing output by about 1.2 million bpd as part of a deal with Russia and other non-member producers, which have also committed to production cuts.
US Congress moves closer to final tax bill with House vote
The Republican-controlled US House of Representatives voted on Monday to go to conference on tax legislation with the Senate, moving Congress another step closer to a final bill, reports Reuters. The Republican-led Senate was expected to hold a similar conference vote later this week.
US top court lets Donald Trump's latest travel ban go into full effect
The US Supreme Court on Monday handed a victory to President Donald Trump by allowing his latest travel ban targeting people from six Muslim-majority countries to go into full effect even as legal challenges continue in lower courts, reports Reuters.
The nine-member court, with two liberal justices dissenting, granted his administration’s request to lift two injunctions imposed by lower courts that had partially blocked the ban, which is the third version of a contentious policy that Trump first sought to implement a week after taking office in January.
The high court’s action means that the ban will now go fully into effect for people from Chad, Iran, Libya, Somalia, Syria and Yemen seeking to enter the United States. The Republican president has said the travel ban is needed to protect the United States from terrorism by Islamic militants.
Ex-president Saleh dead after switching sides in Yemen's civil war
Veteran former president Ali Abdullah Saleh was killed in a roadside attack on Monday after switching sides in Yemen’s civil war, abandoning his Iran-aligned Houthi allies in favour of a Saudi-led coalition, foes and supporters said. Analysts told Reuters Saleh’s death would be a huge moral boost for the Houthis and a serious blow to the Saudi-led coalition that intervened in the conflict to try to restore the internationally recognised government of President Abd-Rabbu Mansour Hadi.
Yemen: This image made from militant video via Ansar Allah media a Houthi group’s media arm, purports to show the lifeless body of Ali Abdullah Saleh, Yemen's former president on Monday. Yemeni rebels killed their erstwhile ally Saleh, the country’s former president and strongman, as their forces battled for control of the capital, Sanaa, officials said. The collapse of their alliance throws Yemen’s nearly three-year-old civil war into unpredictable new chaos. AP
Mastercard to repurchase up to $4bn of its shares
Payment processor Mastercard said on Monday it would buy back up to $4 billion of its class A shares, reports Reuters. The new share repurchase program will be effective at the completion of the company’s previously announced $4 billion share repurchase program, it said. Under the previously announced buyback, the company has about $1.5 billion remaining, the statement added.
OPEC oil output falls in November to lowest since May
OPEC oil output fell in November by 300,000 barrels per day (bpd) to its lowest since May, a Reuters survey found, pressured by a drop in Angolan and Iraqi exports, strong compliance with a supply cut deal and involuntary declines. OPEC’s adherence to pledged supply curbs rose to 112% from October’s 92%, the survey found.
Top exporter Saudi Arabia pumped below its OPEC target, as did all other members except Ecuador, Gabon and the United Arab Emirates. The Organisation of the Petroleum Exporting Countries is reducing output by about 1.2 million bpd as part of a deal with Russia and other non-member producers, which have also committed to production cuts.
US Congress moves closer to final tax bill with House vote
The Republican-controlled US House of Representatives voted on Monday to go to conference on tax legislation with the Senate, moving Congress another step closer to a final bill, reports Reuters. The Republican-led Senate was expected to hold a similar conference vote later this week.
Dow hits record as investors bet on tax cuts
The Dow Jones Industrial Average reached a record high on Monday, with banks and retailers surging and technology companies falling as investors realigned their portfolios in hopes of benefiting from expected corporate tax cuts, reports Reuters. The Dow Jones Industrial Average rose 0.24% to end at 24,290.05 points, while the S&P 500 lost 0.11 percent to 2,639.44. Earlier in the session, the S&P 500 had touched a record high. The Nasdaq Composite dropped 72.22 points to end at 6,775.37.
Lakshadweep: Navy personnel carry out rescue operations in Lakshadweep on Monday following the cyclone Ockhi. PTI
Lakshadweep: Navy personnel carry out rescue operations in Lakshadweep on Monday following the cyclone Ockhi. PTI