India’s first Olympian swimmer Mehboob Khan no more

Mangaluru, Jan 11: U Haroon bin Aboobakar Mukri, a businessman from Uppinangady passed away at a private hospital in the city today. He was 74.

He was undergoing treatment for multiple ailments including age-related diseases. He breathed his last at 12:40 a.m. on Saturday.

Son of Late Aboobakar Mukri, who was an Islamic activist and leader of Jamaat-e-Islami Hind in Uppinangady, Haroon was known for his generosity, kind-heartedness and simplicity.

An alumnus of St Aloysius College, Mangaluru, he was also a passionate traveller and life enthusiast, who always loved to meet people and spread positive vibes.

He is survived by his wife, four sons, a daughter and a large number of relatives, friends and well-wishers.

The funeral prayers were held at Masjid al-Huda, Uppinangady on Saturday afternoon. He was buried on premises of the same mosque.

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 24: Muslims across coastal Karnataka today observed Eid Al-Fitr by offering Eid prayers at home instead of mosques and Eidgahs.

For the first time the cities of Mangaluru and Udupi wore a deserted look on the day of Eid. Strict implementation of the lockdown was seen in the both cities. All vehicles except those transporting essentials remained off the roads.

Following the orders of orders of the deputy commissioners of the Dakshina Kannada and Udupi and guidance of religious scholars and Qadhis, Muslims preferred not to venture out of homes on the day of Eid. The 36 hours of complete lockdown which came into force yesterday at 7 p.m. will relaxed tomorrow morning at 7 a.m.

The Eidgah at Light House Hill area of the city and other prominent mosques, where thousands used to gather to offer namaz during festivals, were empty today.

Photos of simple Eid celebrations were share on social media to keep the spirit of festival alive in times of pandemic.

This time Muslims in the region had also decided not to buy any new clothes for Eid. Campaigns were run in the moth of Ramadan to encourage the Muslims to donate the amount of new clothes to the needy instead.

Throughout the month of Ramadan Muslim organisations were distributing food among the stranded migrant labourers in the region.