Dubai: Karnataka NRI Forum holds meeting on govt’s NRK card

Chikkamgaluru, Feb 21: Wazi Noronha, aka, Vojald, the father of Amulya Leona Noronha, who lives in Koppa taluk of Chickmagalur district has said that he was shocked by his daughter’s pro-Pakistan slogans.

“Let her rot in jail. I don’t mind if police break her bones, I don’t support what she said and I will not approach lawyers for her bail. She has committed a grave mistake,” he said.

Amulya, a 19-year-old student activist, was booked for sedition yesterday after she raised ‘Long Live Pakistan’ slogans at a CAA-NRC rally. A visibly embarrassed Asaduddin Owaisi, AIMIM chief and MP tried to snatch the mic away from her and slammed her. Karnataka Police have registered a case under IPC Section 124A (Offence of sedition) against Amulya.

Mr. Wazi, who owns a two-acre areca plantation and runs a poultry farm, said he would not make any attempts to get her bail. “Let the law take its course. I cannot approve of her statement,” he said.

He said he had cautioned his daughter against getting involved in protests. “I told her to complete studies first and later she could fight for poor people. But what she said yesterday is not acceptable. I don’t know what made her so. I hope a probe would bring out who prompted her to make such statements,” he said.

Mr. Wazi also admitted that he was associated with BJP and had worked for saffronite leaders like Shobha Karandlaje and D N Jeevaraj.

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, Jul 16: Former Prime Minister and JDS supremo H D Devegowda on Thursday gave a clarion call to party workers to take steps to strengthen the party from the grossroots level and to 'expose the failures' and 'anti-people' policies of BJP government both at the Centre and State.

In an open letter to the workers here, he alleged that the urgent need is to create awareness among the people about failure of the governments which have brought in policies which are deterrent to the poor and downtrodden.

BJP government headed by Chief Minister B S Yediyurappa in Karnataka has come up with an amendment to the Land Reforms Act,1961, which is 'against' interests of the small and medium farmers as even a non-agriculturist can purchase agriculture land, thus giving an opportunity to the rich people to 'exploit' illiterate farmers and purchase their land and use it for some other purpose after some time.