CARACAS: Venezuela’s oil exports have plummeted since the US seized an oil tanker off the country’s coast this week and imposed new sanctions on shipping companies doing business with the embattled Latin American country, Al Jazeera reported.Oil tanker movements into and out of Venezuelan waters have almost come to a standstill, Al Jazeera’s sources stated, after the US announced that it would seize more vessels as part of its military pressure on Venezuela’s President Nicolas Maduro.

The seizure on Wednesday of the Skipper tanker marked the first US capture of Venezuelan oil cargo since Washington imposed sanctions on Caracas in 2019. It also comes amid a US military build-up in the Caribbean, which appears designed to remove Maduro from power.Threats of more seizures have now left tankers – loaded with about 11 million barrels of oil and fuel – stuck in Venezuelan waters and fearing to venture further, according to data and documents cited by Al Jazeera’s sources.Only tankers chartered by US oil giant Chevron have left ports and sailed into international waters carrying Venezuelan crude since the seizure of the Skipper, according to Reuters. Chevron has US government authorisation to operate in Venezuela through joint ventures with state-run oil company PDVSA and can export its oil to the US.Chevron confirmed this week that it was operating in Venezuela “without disruption and in full compliance with laws and regulations applicable,” and had exported two cargoes of Venezuelan heavy crude to the US since the seizure of the Skipper.As the Skipper was taken to Houston, Texas, on Friday for the unloading of its confiscated fuel cargo, Trump reiterated that the US military will start carrying out strikes on land against drug trafficking targets in Latin America, as per Al Jazeera.Speaking at the White House, Trump said that US forces – which have been attacking vessels in the Caribbean Sea and Pacific Ocean for weeks, killing some 90 people – had stopped 96 percent of drugs trafficked to the US by water.The US also claims it is attacking drug trafficking vessels but has provided no evidence, while international law experts say the attacks amount to extrajudicial killings by Washington in international waters.

The Nifty experienced a mild correction this week, trading in a downward consolidation pattern and closing negative. The trading range spanned 485 points, from 26,178.70 to 25,693.25.Despite the Federal Reserve’s supportive 0.25% rate reduction and a pause in breadth deterioration, the index encountered resistance near recent peaks. The India VIX dropped by -2.01% to 10.11, indicating persistent market complacency and reduced hedging activity. The index recorded a modest decline of 139.50 points (-0.53%) for the week.The Nifty maintains its overall bullish structure whilst traversing a crucial inflection point. It remains positioned above the descending trendline but faces resistance around 26,150–26,200. Current price movements indicate reluctance to break through this resistance definitively, as reported by Economic Times.The current market inertia is partly attributed to unresolved factors, including the pending US-India trade agreement. While the Fed’s accommodative position could benefit markets in the medium term, the index appears to be taking a technical pause within its upward trajectory. Breaking above 26,200 would confirm a new breakout phase.The upcoming week suggests a cautious opening. Key resistance levels are established at 26,200 and 26,300, with a substantial barrier near 26,550 at the upper Bollinger band. Support levels are positioned at 25,750 and 25,600.The weekly RSI stands at 61.34, maintaining its bullish position without price divergence, suggesting neutral momentum. The MACD remains above its signal line with a positive crossover. The week’s candlestick shows a small bearish formation with an extended lower shadow near resistance, suggesting uncertainty.The Nifty continues to trade above its broken symmetrical triangle pattern. The index shows reduced momentum whilst consolidating above its breakout point and just below its peak. Despite the traditionally negative implications of weakening near resistance, repeated testing of the upper boundary indicates underlying strength. The index remains above all significant moving averages, confirming an intact upward trend.Considering the current technical and broader market conditions, a cautious approach is warranted. Traders should secure profits at higher levels and avoid aggressive long positions until confirmation of a breakout above 26,200–26,300. A selective approach focusing on relative strength and risk management is recommended.The RRG analysis against CNX500 indicates the Financial Services and Midcap 100 indices have moved into the leading quadrant. The Bank, Infrastructure, and PSU Bank indices remain in the leading quadrant, suggesting potential outperformance.Metal and Auto indices occupy the weakening quadrant, suggesting possible reduced relative performance despite potential individual stock opportunities.PSE, Commodities, Energy, Media, Consumption, and FMCG indices have entered the lagging quadrant, indicating likely underperformance against broader markets.Realty, IT, and Services Sector indices position themselves in the improving quadrant.

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Fans with Argentine footballer Lionel Messi’s posters lay on the ground as they vandalise the Salt Lake Stadium, alleging poor management during the footballer’s G.O.A.T India Tour 2025, in Kolkata on Saturday. (ANI Photo)

NEW DELHI: The All India Football Federation (AIFF) on Saturday said it was concerned after the Lionel Messi event in Kolkata was disrupted due to crowd control issues and security lapses.Around 50,000 spectators, many of whom paid between Rs 4,000 and Rs 12,000 — and in some cases up to Rs 20,000 in the black market — were left upset as politicians, VVIPs, security personnel and others gathered around Messi. Many of them appeared focused on taking selfies, while fans inside the Salt Lake Stadium struggled to get a view.

“The All India Football Federation is deeply concerned by the events that transpired at the Vivekananda Yuba Bharati Krirangan, where thousands of fans gathered to witness world football stars Lionel Messi, Luis Suarez, and Rodrigo de Paul.“This was a private event organised by a PR agency. The AIFF was not involved in the organisation, planning, or execution of this event in any capacity,” the AIFF said in a statement.Soon after he arrived at the venue, Messi was surrounded by politicians, police officers, VIPs and their aides. The group formed a human barrier, leaving ticket-holders unable to see the footballer.The AIFF again clarified that it had no role in the event.“This was a private event organised by a PR agency. Furthermore, the details of the event were neither communicated to the AIFF, nor was any clearance sought from the federation,” the AIFF said.Also read: How Kolkata’s wait for Lionel Messi slipped into disorder“We urge all attendees to extend their full cooperation with the relevant authorities and to maintain order. The safety and security of all individuals involved must remain the paramount priority,” the federation added.The disorder began when angry fans threw bottles, which are banned inside sporting venues. Questions were raised over how such items, including food packets, were allowed inside the stadium. Soon after, chairs were pulled out and thrown.Fibreglass seats were found broken across the field and the synthetic track.Two canopies set up for Messi and the chief minister’s enclosure were torn apart. There were also attempts to set parts of them on fire before police stepped in.Several gates were damaged, the roof of the players’ tunnel was hit, and posters were pulled down.

NEW DELHI: The Congress on Saturday criticised the Modi government after the Union cabinet approved a bill to rename the Mahatma Gandhi national rural employment guarantee act (MGNREGA), questioning why Mahatma Gandhi’s name needed to be dropped and accusing the Centre of focusing on rebranding rather than reform. Reacting to the Cabinet decision, Congress general secretary in-charge communications Jairam Ramesh said the government was a “dhurandhar” at renaming schemes and laws. “They renamed the Nirmal Bharat Abhiyan to Swachh Bharat Abhiyan, and the rural LPG distribution programme to Ujjwala. They are experts in re-packaging and branding,” he told PTI. Ramesh questioned the rationale behind the move, saying, “They hate Pandit Nehru but it seems they also hate Mahatma Gandhi. What’s wrong with the name Mahatma Gandhi, why rename the Mahatma Gandhi National Rural Employment Guarantee Act to Pujya Bapu Employment Guarantee Scheme?”PTI citing Sources said the Cabinet on Friday cleared a Bill to rename the scheme as ‘Poojya Bapu Grameen Rozgar Yojna’ and increase the guaranteed number of workdays from the current 100 to 125 days.Congress general secretary in-charge organisation K C Venugopal said Prime Minister Narendra Modi, who had earlier described MGNREGA as a “monument of failure”, was now renaming the scheme to claim credit for it. “It’s yet another way of erasing Mahatma Gandhi from our national psyche, especially from the villages, where, he said, India’s soul resides,” he alleged in a post on X.Venugopal also accused the government of neglecting the scheme, saying the renaming was a “cosmetic change”. “MGNREGA workers have been demanding higher wages, but the Centre has been reducing allocated funds for the scheme year after year,” he said, alleging that mounting arrears reflected a “carefully planned strategy to engineer a slow death for the scheme”.“But Mr Modi, rename it all you want, the people know it was Dr Manmohan Singh ji and Smt Sonia Gandhi ji who brought this transformative scheme to every village of India,” Venugopal added.Enacted in 2005, MGNREGA is a flagship rural employment programme that guarantees at least 100 days of wage employment in a financial year to rural households whose adult members undertake unskilled manual work.

NEW DELHI: What was meant to be a historic celebration of football greatness in Kolkata spiralled into chaos on Saturday, December 13, forcing Lionel Messi to cut short his much-anticipated appearance at the Salt Lake Stadium. Overcrowding, poor crowd control and security lapses turned the Vivekananda Yuba Bharati Krirangan into a flashpoint, leaving fans angry, organisers embarrassed and the global icon whisked away sooner than planned.

West Bengal Chief Minister Mamata Banerjee issued a formal apology to Messi and the fans after scenes of vandalism and unrest broke out. Disappointed spectators booed, threw bottles and damaged hoardings after realising that Messi’s lap of honour would be curtailed. Many fans, including those who had paid premium prices, complained they neither saw Messi up close nor on the giant screens despite waiting for hours.“I am deeply disturbed and shocked by the mismanagement witnessed today at Salt Lake Stadium,” Banerjee said, adding that an enquiry committee headed by retired Justice Ashim Kumar Ray has been formed to fix responsibility and prevent a repeat of such incidents.Messi’s Kolkata stop was part of his GOAT India Tour, a multi-city schedule designed to celebrate the Argentine legend’s legacy and connect him with Indian fans. The superstar arrived in the city in the early hours of December 13 and participated in a meet-and-greet, a virtual statue inauguration and a brief stadium interaction before security concerns forced an early exit.With Kolkata behind him, attention now shifts to the remaining stops on Messi’s tightly packed itinerary. The next destination is Hyderabad, where Messi is scheduled to feature in an exhibition match at Uppal Stadium later on December 13, followed by a musical concert and a meeting with Telangana Chief Minister Revanth Reddy.On December 14, the World Cup winner heads to Mumbai for appearances at the Padel Cup at the Cricket Club of India, a celebrity football match, and an event at Wankhede Stadium that also includes a charity fashion show.The tour concludes in New Delhi on December 15, where Messi is set to meet Prime Minister Narendra Modi and attend a felicitation event at Arun Jaitley Stadium with Minerva Academy players.

As India reels amid steep tariff hike by Mexico, ranging up to 50 per cent, an official said New Delhi is actively engaging with Mexican authorities over what it views as a “unilateral” move to raise duties on a wide range of products.The discussions, the official said, are aimed at finding solutions beneficial to both countries, while keeping open the option of protecting Indian exporters’ interests. The comments were made to PTI.

The tariff increases apply to countries that do not have free trade agreements with Mexico, including India, China, South Korea, Thailand and Indonesia. According to the official, India had raised concerns even when the initial bill was introduced.India’s Embassy in Mexico approached the Mexican Ministry of Economy on September 30, seeking special consideration to shield Indian exports from the revised tariff structure.“India values its partnership with Mexico and stands ready to work collaboratively toward a stable and balanced trade environment that benefits businesses and consumers in both countries,” the official said.India and Mexico are also preparing to begin discussions on a free trade agreement, with formal negotiation parameters expected to be finalised shortly. Analysts believe such an agreement would help insulate Indian companies from the new duties, which were implemented under American pressure to align Mexican tariffs with US measures against China and to curb indirect shipments into the American market.The Mexican Senate approved the tariff legislation on December 11, with ratification by both chambers of Congress. The move is intended to strengthen domestic manufacturing and reduce trade imbalances.Under the decision, import duties ranging from 5 to 50 per cent will apply to around 1,463 product categories from countries without free trade agreements with Mexico, including India. The detailed product list has not yet been published. The revised tariffs will come into effect from January 1, 2026.“The Department of Commerce is engaged with Mexico’s Ministry of Economy to explore mutually beneficial solutions which align with global trade rules,” the official said.A senior-level discussion has already taken place between Commerce Secretary Rajesh Agrawal and Mexican Vice Minister of Economy Luis Rosendo, with further technical-level meetings planned. “India reserves the right to take appropriate measures to safeguard the interests of Indian exporters, while continuing to pursue a solution through constructive dialogue,” the official added.The official noted that the actual impact on Indian exports would depend on how critical these goods are to Mexican supply chains, as well as the ability of Indian companies to secure exemptions or pass on costs to Mexican consumers.India, the official said, views unilateral MFN tariff increases without prior consultation as inconsistent with the principles of predictability and transparency underpinning cooperative economic engagement and the multilateral trading system. The government is continuing its assessment of Mexico’s tariff changes while remaining in close contact with all stakeholders.Industry bodies have voiced concern over the move. FIEO Director General Ajay Sahai warned that the decision could affect sectors such as automobiles, machinery, electrical goods, chemicals, pharmaceuticals, textiles and plastics.“Such steep duties will erode our competitiveness and risk disrupting supply chains that have taken years to develop,” Sahai said, according to PTI, calling for faster progress on a comprehensive trade agreement.ACMA has also indicated that Indian auto component manufacturers could face higher cost pressures due to the increased duties on exports to Mexico.India’s exports to Mexico stood at $5.75 billion in 2024–25, while imports from Mexico were valued at $2.9 billion.

NEW DELHI: Only a few months back, Donald Trump had said that the US had lost India and Russia to the “deepest darkest China”. Now, reports indicate he wants the States to join a new grouping with those very countries, and even bring Japan into it. However, no official confirmation has been made regarding this so far.An idea circulating in Washington this week proposed forming a “Core-5” bloc that would include China and Russia, bringing long-time rivals into the same framework and offering a clear contrast to the G7, Politico reported.

“Nothing around a C5 or C7 was discussed, but there were certainly conversations that the existing bodies like the G-structures or the UN Security Council weren’t fit for purpose given today’s new players,” the news outlet quoted a White House official who worked in the previous Trump administration saying.The report suggested the proposal for this group appeared in a longer, unpublished version of the National Security Strategy, referenced by Defense One, though this version couldn’t be independently confirmed by NatSec Daily. The White House firmly rejected the claim, with spokesperson Anna Kelly stating that no alternate, private, or classified version of the 33-page official strategy exists.

Does it fit Trump’s plan?

Though such a plan once seemed unlikely, some observers say it fits Trump’s style. As the US president, he has often sought deals with rival nations, approving the sale of Nvidia’s H200 AI chips to China and sending envoys Steve Witkoff and Jared Kushner to Moscow for direct talks with Russian President Vladimir Putin.“This aligns with how we know President Trump to view the world, which is non ideologically, through an affinity for strongmen, and through a propensity of working with other great powers that maintain spheres of influence in their region,” Politico quoted former director for European affairs on the National Security Council Torrey Taussig saying.The buzz comes at after Trump raised the tariff tensions, especially with the three nations — India, China and Russia, over trade disagreements and Ukraine war.It’s not long back when he had posted a picture of Prime Minister Narendra Modi, Russian President Vladimir Putin, and Chinese President Xi Jinping saying: “Looks like we’ve lost India and Russia to deepest, darkest, China. May they have a long and prosperous future together!”The tensions seem to be easing out, but with a deadlock, as India and US are making efforts to finalise a bilateral trade deal.Moreover, PM Modi had a telephonic conversation with Trump on Thursday and the two reviewed “bilateral relations and discussed regional and international developments.”“Had very warm and engaging conversation with President Trump. We reviewed progress in our bilateral relations and discussed regional and international developments. India and the US will continue to work together for global peace, stability and prosperity,” PM Modi posted on X.