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US stocks slipped on Monday, led by the energy sector as oil prices dropped, while investors awaited the next run of major earnings reports and sought further clarity on US economic policies. The benchmark S&P 500 receded after climbing close to a record high on Friday. US equities have rallied since Trump's November election, spurred by hopes for fiscal stimulus, lower taxes and fewer regulations under the Republican-led federal government. The Dow Jones Industrial Average fell 19.04 points, or 0.09 per cent, to 20,052.42, the S&P 500 lost 4.86 points, or 0.21 per cent, to 2,292.56. The Nasdaq Composite dropped 3.21 points, or 0.06 per cent, to 5,663.55. Nine of 11 major S&P sectors ended lower. Energy shares fell 0.9 per cent as oil prices declined. In earnings news, Hasbro shares jumped 14.1 per cent after the No. 2 US toymaker reported record holiday-quarter revenue. Tyson Foods fell 3.5 per cent. Several major companies will report results later in the week, including Gilead Sciences, Walt Disney and Coca-Cola. About 6 billion shares changed hands in US exchanges, below the 6.7 billion daily average over the last 20 sessions. Declining issues outnumbered advancing ones on the NYSE by a 1.63-to-1 ratio; on Nasdaq, a 1.73-to-1 ratio favored decliners. The S&P 500 posted 15 new 52-week highs and 1 new low; the Nasdaq Composite recorded 108 new highs and 24 new lows, according to Reuters.....

Published at: 2017-02-07 00:00:05

Israel's parliament has passed a controversial law retroactively legalising about 4,000 homes built on settlements in the occupied West Bank, reports BBC. The law passed by 60 votes to 52 late on Monday. It states that the original Palestinian landowners will be compensated with money or alternative land. The new US President Donald Trump has taken a softer stance on Israel's settlements than his predecessor, Barack Obama, despite widespread international opposition. Emboldened by the new US administration, Israel has undertaken a series of pro-settlement moves in recent weeks, including the approval of thousands of homes. Those were punctuated by Israeli security forces last week evicting hundreds of hardline Jewish settlers from Amona, an illegal outpost of on the occupied West Bank. The move followed years of political controversy over the outpost, which is built on private Palestinian land. The legalisation on Monday of a number of outposts has proved divisive within Israel and is likely to face legal challenges. The attorney general, Avichai Mandelblit, called the bill unconstitutional and said he would not defend it in the supreme court. Cabinet minister Ofir Akunis said during a debate ahead of the vote: "We are voting tonight on the connection between the Jewish people and its land. This whole land is ours. All of it." Opposition MPs shouted from their seats at members of the governing coalition who were speaking in favour of the bill and spectators raised a black cloth in apparent protest. Palestinians condemned the law. "This is an escalation that would only lead to more instability and chaos," said Nabil Abu Rudeineh, a spokesman for Palestinian leader Mahmoud Abbas. He added: "It is unacceptable. It is denounced and the international community should act immediately," The UN Middle East envoy, Nickolay Mladenov, called on Israeli MPs to vote against the law, saying it would "greatly diminish the prospects for Arab-Israeli peace". The Obama administration strongly condemned Israel's settlement programme, and some 6,000 new homes in the West Bank and east Jerusalem have been planned since the former president left office. Trump did appear last week to moderate his staunchly pro-Israeli position, saying that the construction of new settlements "may not be helpful" to the peace process. More than 600,000 Jews live in about 140 settlements built since Israel's 1967 occupation of the West Bank and East Jerusalem. The settlements are considered illegal under international law, though Israel disputes this. Much of the international community views Israeli settlements as illegal and an obstacle to the peace process. Palestinians want to form a state from the West Bank, east Jerusalem, and the Gaza Strip, territories captured by Israel in the 1967 Mideast war.....

Published at: 2017-02-07 00:00:05

The suspect who allegedly set fire to a mosque in Florida last September was sentenced to 30 years in prison on Monday. The convict Joseph Schreiber, 32, pleaded no contest during the hearing. A no contest plea is treated the same as a guilty plea.  Schreiber answered Levin's questions in a clear, unwavering voice before sentencing.  He was also ordered to pay $10,000 in restitution although damages exceeded $100,000.  He had confessed to detectives that he set fire to the Islamic Center of Fort Pierce last Sept. 11, the 15th anniversary of the 2001 terrorist attacks.  The damage to the mosque was so extensive that the leaders recently announced that it will move. Omar Mateen, who frequented the mosque, was killed by police after opening fire at the Pulse nightclub on June 12 in a rampage that left 49 victims dead and 53 wounded. Mateen professed allegiance to the Islamic State group. His father is among roughly 100 people who regularly attend the mosque, according to AP.....

Published at: 2017-02-07 00:00:05

The Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) witnessed downward trend in early hours Tuesday as most of the investors were in selling mood. After 30 minutes of trading, the key index of the country’s prime bourse fell 24.23 points while the Selective Category Index of port city bourse lost 27.72 points when the report was filed at 11:00am. DSEX went down by 24.23 points or 0.45 per cent to stand at 5,338.86 when the report was filed. The two other indices also saw negative trend till then. The DS30 index, comprising blue chips fell 9.86 points or 0.50 per cent to stand at 1951.98 points. The DSE Shariah Index (DSES) lost 4.40 points or 0.35 per cent to reach at 1,252.89 points. Turnover, the crucial indicator of the market, stands at Tk 769 million on the DSE, when the report was filed at 11:00am, riding on the newly-listed Pacific Denims. Pacific Denims, which made trading debut today, dominated the turnover chart with shares worth Tk 300 million changing hands till then, followed by National Polymer Tk 28 million, ACI Formulations Tk 27 million, Appollo Ispat Complex Tk 24 million and Islami bank Tk 20 million. Of the issues traded till then, 58 advanced, 139 declined and 32 issues remained unchanged till 11:00am. The port city bourse, the Chittagong Stock Exchange (CSE), also saw downward trend with its Selective Category Index – CSCX – falling 27.72 points to stand at 10,017.65 points, also at 11:00am. Of the issues traded till then, 28 gained, 58 declined and 7 remained unchanged with a turnover value of Tk 65 million. -bb/rmc//....

Published at: 2017-02-07 00:00:05

Asian shares were mostly lower Tuesday and oil prices rebounded after declines that dragged Wall Street lower. Tokyo's Nikkei 225 index lost 0.3 per cent to 18,929.75 and Sydney's S&P-ASX 200 retreated 0.1 per cent to 5,612.10. The Shanghai Composite Index lost 0.3 per cent to 3,147.20. The Hong Kong's Hang Seng shed 0.2 per cent to 23,310.59. Seoul's Kospi lost 0.1 per cent to 2,074.55 most benchmarks in Southeast Asia fell, though shares rose in New Zealand and Singapore. US stocks ended on Monday. The Dow Jones industrial average fell 0.1 per cent to 20,052.42. The S&P slid 0.2 per cent to 2,292.56. The Nasdaq composite index gave up or 0.1 per cent to 5,663.55. Benchmark US crude gained 17 cents to $53.18 per barrel in electronic trading on the New York Mercantile Exchange. The contract slumped 82 cents on Monday to close at $53.01.  Brent crude, used to price international oils, rose 19 cents to $55.91 in London. It plunged $1.09 in the previous session to $55.72. In the currency market, the dollar gained to 111.83 yen from Monday's 111.74 yen. The euro declined to $1.0724 from $1.0738, according to AP.....

Published at: 2017-02-07 00:00:05