Bengaluru | Gas leak in GAIL pipeline near IT hub sparks panic; traffic diverted

Bengaluru, May 30: People travelling to Bengaluru by flight or train must pay to get their Covid-19 tests done at designated private labs.

This is being done to improve the participation of private labs that have been approved by the Indian Council of Medical Research to do testing. Many of these labs are running at sub-optimal levels.

The new rule will also help the special categories of passengers and their attendants to leave early for home quarantine after giving the sample once the swab collection centres are established at airports and railway stations. The nodal officers at these places will coordinate in establishing the swab collection centres.

Each test will cost Rs 650 per sample. XCyton Diagnostics will cater to air passengers. Rail passengers will be tested at Neuberg Anand Reference Laboratory, Cancyte Technologies Pvt Ltd, Aster Labs, Narayana Hrudayalaya, Vydehi Hospital and Syngene International Ltd.

Hubballi, Mar 25: The people living in rural areas of North-Karnataka region have become more aware about deadly Corona virus as they are leaving no stone unturned to prevent people of Bengaluru and other metropolitan cities from entering into their villages. People have put thorny plants on all roads at the outskirts connecting their villages and deployed youths to conduct patrolling round the clock till next 21 days.

Their motto is to prevent their own villagers getting infected from the outsiders especially from cities like Bengaluru and other two-tier cities where positive virus cases are on the rise. They have also take precautionary measures in the wake of Chief Minister B S Yediyurappa's call to the people to return to their native places.

Several people have also dug up the roads leading to their villages to block the entry of outside vehicles. They have put a condition to the outsiders to enter into their villages only after proper health check-up to confirm that they are not infected with Corona positive.

"We don't have access to the proper medical care if Corona virus is entered into our village. The Primary Health Centres are not functioning properly and these centers are facing lack of adequate staff and medical equipments unlike in big cities.Therefore, those who have deserted our village to employ in various jobs in Bengaluru and other cities should confirm that they are tested negative for the virus", said Mallikarjun Patil of Kudal village in Hangal taluk of Haveri district. The village has totally banned the outsiders into their village and warned their fellow villagers to return immediately if they have visited to their relatives' homes in neighboring villages to observe 21-day lockdown.

Hundreds of youths in Itanal village of Chikkodi taluk of Belagavi have also resorted to similar tactics and patrolling in all roads at the outskirts by holding sticks to prevent outsiders from entering into their village until April 14.

People of Hunagunti village in Ron taluk and Kotamuchagi village in Gadag taluk have also adopted similar plan by parking tractors at th outskirts to prohibit the entry of outsiders. They have also created awareness in their villages by beating drums urging the people not to venture outside village for next three weeks.

The police officials have resorted to lati-charge at various places in urban areas when people gathered in large numbers to buy essential commodities.

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.