It’s Kalladka Bhat’s order: Churches, dargahs, madrasas must celebrate national festivals

Bengaluru,  Jul 18: Union Minister for Chemicals and Fertilizers DV Sadananda Gowda on Friday said that Government of India headed by Prime Minister Narendra Modi has been extending all possible assistance to state government in their endeavour to combat the deadly coronavirus.

In a statement released after participating in a high-level meeting chaired by Chief Minister BS Yeddyurappa in Bengaluru today, Gowda said he shared his views with the state government on how to control the spread of COVID-19 in the state in general and Bengaluru in particular.

He said the Centre was in constant touch with the state government on the issue. The centre is more than happy to extend any help further if Karnataka requires so.

"Being a Union Minister handling the Pharmaceutical Department also, I am closely monitoring the medicine demand and supply situation across the country on a day-to-day basis. The availability of required medicines including HCQ and Paracetamol is satisfactory in all states including Karnataka. Also, there has been enough lifesaving drugs in our Jan Aushadhi Kendras all over India. Over 600 such outlets exist in Karnataka alone," he said.

"If there is any issue related to medicine shortage or overpricing, one can bring it to my knowledge or call PMBJP tollfree number 18001808080 or NPPA number 18001112550 / 011-23345118 / 011-23345122. The grievances will surely be resolved to everybody's satisfaction" added the minister.

With related to state governments or private agencies seeking to import emergency medicines, medical equipment etc., Gowda assured, we would facilitate required licences without any delay.

"I strongly feel that it is our collective responsibility to use everything in our armour to defeat the pandemic. We also seek public support in this mission. Together, we will win," he said.

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.

Mangaluru, May 29: The southwest monsoon is expected to reach the Karnataka coast on June 1 or 2, earlier than forecast by the India Meteorological Department (IMD).

Normally, Karnataka witnesses the onset of monsoon either five or six days after it had entered Kerala. However, this time, Karnataka will also witness the arrival of monsoon either on June 1 or June 2, according to meteorologists at the Karnataka State Natural Disaster Monitoring Cell (KSNDMC).

The gradual formation of two low-pressure areas over the Arabian Sea located close to the western peninsular coast and gaining momentum has helped Karnataka mark the start of the four-month-long rainy season expected to revive the back-to-back drought-stricken state.

Confirming the changes in the atmospheric pattern, Dr GS Srinivasa Reddy, Director KSNDMC said, “Karnataka will also witness the onset of monsoon on the same time that of Kerala.”

The early onset of monsoon over Karnataka coast is attributed to prevailing to weather pattern over the Arabian Sea. 

“The two low-pressure areas over the Arabian Sea are steadily gaining momentum. They may reach the peak by the weekend and may concentrate further into depression causing widespread rainfall in the peninsular region and thereby advancing the onset of monsoon over the region,” Dr Reddy explained.

The KSNDMC, based on the Indian Meteorological Department (IMD) forecast, stated that due to 'prevailing favourable conditions over the Indian Ocean and Pacific Ocean regions', the monsoon will be normal and above normal over coastal and south-interior Karnataka according to the present scenario.

The IMD, which had initially issued a forecast of five-day delay in the onset, had issued a fresh forecast on Wednesday cautioning the states along the West coast about the formation of two intense low-pressure areas in South-East and East-Central Arabian Sea region.

Following the forecast, a yellow alert has also been issued in Kerala and coastal areas suggesting significant rainfall starting from this weekend. “Fishermen have also been advised not to venture into deep-sea due to high turbulent conditions,” an IMD official revealed.