India condemns ‘heinous and cowardly’ attack on Afghan Sikhs

Kanpur, Jul 11: "The Uttar Pradesh administration has done the right thing by taking action against my son," said an old and feeble Ram Kumar Dubey, father of gangster Vikas Dubey.

The father said his son killed eight police officials and it was an unforgivable sin.

"Had he listened to us, his life would not have ended this way. Vikas never helped us in any way. Due to him, even our ancestral property was razed to the ground. He also killed eight policemen, which is an unforgivable sin. The administration has done the right thing. Had they not done so, tomorrow others would have acted similarly," Ram Kumar said.

"It is the chief minister's duty to protect every individual. The police is an extension of that. He attacked them which cannot be forgiven. I will not even take part in his cremation," he added.

Ram Kumar Dubey said that his only appeal to the government is to allow him entry to his ancestral property now.

Vikas Dubey was cremated at Bhairav Ghat in Kanpur. His wife, younger son and brother-in-law were present and no other member of his family attended the last rites.

Vikas Dubey was arrested by the police in Ujjain on Thursday morning. He was on the run for the last six days and had come to the city to offer prayers at a temple, where he was identified by a security guard.

He was killed in an encounter by the Uttar Pradesh Police earlier today after he "attempted to flee".

The gangster was the main accused in the encounter that took place in Bikru village in Chaubeypur area of Kanpur last week, in which a group of assailants opened fire on a police team, which had gone to arrest him.

Eight police personnel were killed in the encounter.

Vikas Dubey managed to escape after the incident. Uttar Pradesh police had launched a hunt and raised a bounty on him for Rs 5 lakh.

The unexpected lockdown to prevent spread of covid–19 has caused a serious damage to the lives of Indian expatriates irrespective of laborers and entrepreneurs in Kingdom of Saudi Arabia. Different stories of expatriates' ordeals are emerging from the region. 

Abdul Razaq, hailing from Udupi in Karnataka has been running small scale business at Jeddah, Saudi Arabia, based on oil refinery projects of the government. He was undergoing medical treatment for his cancer which is in fist stage. He explaines his ordeals caused by lockdown and stopping the flight facility. 

“I was regularly visiting home country for the treatment of cancer. Now I cannot go as international flight service has been stopped. I expect that government will hear problems of expatriates and will arrange facilities to take us back to home”, he said.

Mubeen from Bengaluru was working on temporary basis  for a company in Jubail. He had lost his jobs like some of his colleagues due to the lockdown.

“As everything was alright, I had brought my parents recently to Saudi Arabia on a visit visa. Things changed drastically with covid-19 attack. Continuous lockdown caused burden over the company and they removed temporary employees like me to control possible losses” he said.

“Now owner of the flat has been harassing me for the rent. I do not have money either to pay rent or to cover daily family expenses. I do not know what to do further”, he added. 

Iqbal from Mangaluru left for Saudi Arabia to help his family. He got a job in a juce centre in Dammam recently. Corona lockdown made his life difficult. He is eager to return his home country. 

“I came to Saudi Arbia because of financial difficulties as I had not found any job with good salary there. I thought I can earn well by going to Saudi Arabia. However, here too the salary was not so good. Now juice center is closed due to lockdown and sponsor is giving very small amount of money as salary through which we cannot afford our expenses and our families back in home,” he said.

“Here It is not easy get help of fellow Indians since most of them have their own ordeals. I would like to return home country; there however we can manage to get help of friends and relatives. I am looking forward the help of Indian government to start air facility for stranded NRIs,” he said. 

Mohsin from Mysuru is a taxi driver in Dammam, Saudi Arabia. He was earning on commission basis. Now Saudi government banned movement of taxis in the region, which pushed him and his fellow taxi drivers into trouble.

“We were earning commissions daily on the basis of trips. Now we cannot move outside with taxi since it may cause us to pay the fine of SR.10000. How can I manage my expenses and family members in home?”, he asked.

There are cases of pregnant women who have to return India for delivery. Those who brought family here on visit visa will not have insurance. Delivery charges and any kind of medical facilities without insurance in Saudi Arabia is very expensive. Expatriate Indians with such problems are awaiting government's help.

“I had brought my wife on one year visit visa. Now she is pregnant and I have to send her back to home for delivery. If lockdown continues, it is difficult to send back and we have to spend big amounts for delivery without insurance. It is a big burden to me as I work for small salary in a company”, said Yunus from Hyderabad, who is living in Jeddah, Saudi Arabia.

Lockdown is haunting even entrepreneurs in Saudi Arabia. Most of expatriates in the industrial hub of Jubail are doing business based on Saudi Government’s oil refinery projects. Saudi Arabia temporarily stopped most of the projects as part of public health safety measures to maintain social distance. 

“We are doing business based on oil refinery projects. Now projects are stopped. We brought around 1100 people on work permit visa on temporary basis. And also, we have around 1200 permanent workers. It is a big burden to provide them with food, accommodation and salary. It may cause a big loss for our company”, said owner of expatriates company, Sheikh Mohammed.

Saudi Arabia had reported first corona virus affected case in March 2, 2020. At the end of March, it was 1600 and now it already corssed 6000. Saudi Health ministry has cautioned the number of affected people may rise 10000 to 200,000 and directed for more precautionary measures. In such case, the Indian expatriates may have to face crisis in the region. 

Indian expatriate organizations are demanding for immediate intervention of Indian government to ensure better quarantine facility and treatment of NRIs in Saudi Arabia as the cases are increasing rapidly. The condition of laborers in some of the camps are such that seven to eight people should share a single bed room. 

“Normally if there is a flat, it will consist three to four bed rooms. In single bedroom companies will provide three four bunk beds and six to eight people should share the room. In such cases, if a person affected with virus it will spread quickly to others. Thus, Indian government should ensure quarantine facility for NRIs”, says Wasim Rabbani, president of Indian Social Forum, Eastern Region, Saudi Arabia. 

President of Karnataka Non Residential Indians, A forum for the NRI organizations of Karnataka, Zakaria Muzain says Indian Government should immediately interfere to bring back those stranded NRIs who wish to return home. Government should intervene to pressure Indian embassy to take the issues of troubled expatriates. 

“Government should make special flight arrangement for such NRIs in trouble. It should also arrange quarantine facility for those who return to India. Already there are many Non-Governmental charity organization which have come forward to give their facilities for NRIs”, he said. 

NRIs from all categories are looking forward for the help of Indian government. It is important to Indian government to take quick action as the problem is increasing in Saudi Arabia.

New York, Apr 21: Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don't want to get stuck owning crude with nowhere to store it.

Stocks were also slipping on Wall Street in afternoon trading, with the S&P 500 down 0.9%, but the market's most dramatic action was by far in oil, where benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time.

Much of the drop into negative territory was chalked up to technical reasons — the May delivery contract is close to expiring so it was seeing less trading volume, which can exacerbate swings. But prices for deliveries even further into the future, which were seeing larger trading volumes, also plunged.

Demand for oil has collapsed so much due to the coronavirus pandemic that facilities for storing crude are nearly full.

Tanks could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts.

Benchmark U.S. crude oil for June delivery, which shows a more ”normal” price, fell 14.8% to $21.32 per barrel, as factories and automobiles around the world remain idled. Big oil producers have announced cutbacks in production in hopes of better balancing supplies with demand, but many analysts say it's not enough.

“Basically, bears are out for blood,” analyst Naeem Aslam of Avatrade said in a report. “The steep fall in the price is because of the lack of sufficient demand and lack of storage place given the fact that the production cut has failed to address the supply glut.”

Halliburton swung between gains and sharp losses, even though it reported stronger results for the first three months of 2020 than analysts expected. The oilfield engineering company said that the pandemic has created so much turmoil in the industry that it “cannot reasonably estimate” how long the hit will last. It expects a further decline in revenue and profitability for the rest of 2020, particularly in North America.

Brent crude, the international standard, was down $1.78 to $26.30 per barrel. .

In the stock market, the mild drops ate into some of the big gains made since late March, driven lately by investors looking ahead to parts of the economy possibly reopening as infections level off in hard-hit areas.

Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

The Dow Jones Industrial Average was down 364 points, or 1.5%, to 23,887. The Nasdaq was down 0.1%..

More gains from companies that are winners in the new stay-at-home economy helped limit the market's losses Amazon rose 1.4%, and Netflix jumped 3.8% as people shut in at home buy staples and look to fill their time. Clorox likewise rose toward a new record and was up 1% as households and businesses that remain open look to stay clean.

In Tokyo the Nikkei 225 fell 1.1% after Japan reported that its exports fell nearly 12% in March from a year earlier as the pandemic hammered demand in its two biggest markets, the U.S. and China.

The Hang Seng index in Hong Kong lost 0.2%, and South Korea's Kospi fell 0.8%.

European markets were modestly higher The German DAX was up 0.5%, the French CAC 40 was up 0.7% and the FTSE 100 in London gained 0.7%.

In a sign of continued caution in the market, Treasury yields remained extremely low. The yield on the 10-year Treasury slipped to 0.64% from 0.65% late Friday. It started the year near 1.90%. Bond yields drop when their prices rise, and investors tend to buy Treasurys when they're worried about the economy.

Stocks have been on a generally upward swing recently, and the S&P 500 just closed out its first back-to-back weekly gain since the market began selling off in February. Promises of massive aid for the economy and markets by the Federal Reserve and U.S. government ignited the rally, which sent the S&P 500 up as much as 28.5% since a low on March 23.

More recently, countries around the world have tentatively eased up on business-shutdown restrictions put in place to slow the spread of the virus.

But health experts warn the pandemic is far from over and new flareups could ignite if governments rush to allow ”normal” life to return prematurely.

The S&P 500 remains about 15% below its record high in February as millions more U.S. workers file for unemployment every week amid the shutdowns.

Many analysts also warn that a significant part of the recent recovery in stocks is due to the expectation among some investors that the economy will rebound sharply once economic quarantines are lifted. They're essentially predicting that a line chart of the economy will ultimately resemble the letter “V,” with a wild ride down but then a quick pivot to a vigorous recovery.

That may be to optimistic. “We caution that a U-shaped recovery is also quite likely,” where the economy bottoms out and stays at that low level for a while before recovering, strategists at Barclays warned in a recent report.

Without strong testing programs for COVID-19, businesses likely won't feel comfortable bringing back their full workforces for a while.

”With risk assets now overbought, the chance for a correction has increased,” Morgan Stanley strategists wrote in a report.