Young techie arrested for raping friend’s wife after birthday bash

Manama: Kannada Sangha Bahrain President Mr. Pradeep Shetty and Vice President of Bahrain's prestigious KHK HEROES Foundation Mohammed Mansoor on Monday, May 11, met The Second Secretary (Consular & CW) of the Embassy of India, Bahrain Mr. P. K. Chowdhury in the Indian Embassy. 

The situation, problems and relief of Indians and Kannadigas residing in Bahrain during the COVID 19 Pandemic was discussed in detail. The distribution of food (dry ration) kits, as well as those seeking repatriation, was also discussed in the meeting.

When asked about the repatriation of distressed Kannadigas, the Second Secretary said that though the number of Kannadigas who wish to return home is not much compared to the rest of the states, still Embassy is compiling all the information and will do the needful soon. 

Mr. Shetty and Mr. Mansoor told the Second Secretary that those who are in problem can contact them and they are ready to do their best.

Mangaluru, May 5: As many as 7,119 labourers, who were stranded in Dakshina Kannada district, were sent to their native places in buses operated by KSRTC’s Mangaluru and Puttur divisions.

After the announcement of lockdown, the stranded labourers were provided shelter in various halls, Town Hall and government hostels in the district.

The stranded labourers from Kuloor, Panjimogaru, Panambur, Baikampady, Yeyyadi, Mulki, Ullal, Bunder, Hoige Bazar and from taluk centres, who wished to take up farming activities in their villages, were sent back in KSRTC and private buses. As many as 266 buses were engaged for ferrying the labourers.

The labourers underwent health check-up prior to their departure to their native villages, Deputy Commissioner Sindhu B Rupesh 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.