BJP plans charge sheet against Siddu govt's failure on promises by Jan 16

Mangaluru, Jan 9: Dakshina Kannada Deputy Commissioner has lodged a complaint with the Police alleging that his signature was forged in a holiday circular for schools and colleges in the district during National General Strike called by Trade Unions.

It may be recalled that the district administration had declared a holiday for all educational institutions on December 20 and 21 in the backdrop of the December 19 violence.

A few miscreants had forged this order and circulated it on social media stating that a holiday had been declared for schools and colleges in the district on January 8.

Global oil markets remained under intense pressure on Tuesday, with Brent crude dropping below $20 per barrel for the first time in 18 years while other major benchmarks across the world tumbled. 

Brent, the international crude marker, slipped to $18.10, indicating that markets see no immediate let-up to the collapse in oil demand that sent some US oil benchmarks plunging under $0 for the first time on Monday, leaving producers paying for buyers to take their oil away while available storage is scarce.

Coronavirus has sent the oil sector into a state of crisis, with lockdowns implemented by authorities to smother the outbreak slashing demand for crude by as much as a third.

Contracts for the US benchmark West Texas Intermediate for delivery next month tumbled as low as minus $40 a barrel on Monday. Analysts at Citi warned that “if global storage worsens more quickly, Brent could chase WTI down to the bottom”.

The collapse in the May WTI contract was partly a technical product of the fact that it expires on Tuesday, meaning trading volumes were low and making the contract for June delivery more noteworthy, analysts said. That contract held above $20 a barrel on Monday but slid as much as 42 per cent on Tuesday to trade at lows of $11.79, suggesting the blowout in the May contract was more than a blip and that the entire global oil market faced challenges.

Goldman Sachs analysts said the June contact was likely to face downward pressure in the coming weeks, pointing to the “still unresolved market surplus”.

“As storage becomes saturated, price volatility will remain exceptionally high in coming weeks,” they said. “But with ultimately a finite amount of storage left to fill, production will soon need to fall sizeably to bring the market into balance, finally setting the stage for higher prices once demand gradually recovers.”

Warren Patterson, head of commodities strategy at ING, said it was likely that “storage this time next month will be even more of an issue, given the surplus environment”.

“And so in the absence of a meaningful demand recovery, negative prices could return for June,” he added.

European equities traded lower, partly dragged down by weaker energy stocks. The continent-wide Stoxx 600 was down 1.9 per cent, with its oil and gas sub-index dropping 3.3 per cent. In London the FTSE shed 1.7 per cent, while Frankfurt’s Dax slid 2.3 per cent. 

Equities were also broadly lower in Asia, with futures tipping US stocks to fall 1 per cent when trading in New York begins later.

On Wall Street overnight, the S&P 500 closed down 1.8 per cent, partly because of weakness in energy shares, but also due to increased pessimism over the time it will take for countries to emerge from lockdowns.

In fixed income, the yield on the 10-year US Treasury fell 0.03 percentage points to 0.585 per cent as investors retreated to the safety of the debt.

Bengaluru, Apr 5: Opening of Karnataka's borders to Kerala at this point in time will be like "embracing death," chief minister B S Yediyurappa said on Saturday making clear his government's stand not opening the state border.

The chief minister repeatedly said that for his government interest of the people of the state was supreme.

Yediyurappa made his stand clear in a letter to former prime minister and JD(S) patriarch H D Deve Gowda.

Gowda had recently written to the chief minister on March 31 seeking relaxation of the border restrictions on "humanitarian" grounds.

He had also written to Kerala chief minister Pinarayi Vijayan expressing his anguish against Karnataka authorities for imposing restriction and promising to raise the matter with prime minister Narendra Modi.

Stating the decision to close the border was not sudden, Yediyurappa said, it was a conscious decision after analysing the health situation in the area following the spread of COVID-19.

The chief minister cited the Indian Medical Association, Mangaluru branch data regarding the spread of Covid-19 in Kasargod of Kerala and surrounding areas which was alarming.

Noting that the region has nearly 106 positive coronaviruscases, he said, "this is the region with most number of infections in the country."

If this restriction is removed, it puts the health of the people of Karnataka in to risk and create a situation of "embracing death", so we will not be able to open the border, Yediyurappa said.

He also clarified that there was no prejudice behind his government's decision, and the interest of the people of the state was of utmost importance.

"...There is also no political maliciousness. We want to have good and brotherly relationship with neighbouring states," he said, adding that opening the border will open a pandora's box that will be disastrous for the state.

Yediyurappa also thanked opposition parties for their support to his government in its fight against COVID-19.