Medical colleges seek 15% hike in fees

Bengaluru, May 20: A mysterious "boom" heard in large parts of Bengaluru this afternoon left residents of the city and social media users puzzled. While the source of the sound is being investigated, the Indian Air Force (IAF) indicated that it could be the result of "routine test flights that necessitate going supersonic a times".

The sound was heard from as far as the Bengaluru airport in Devanahalli to the IT hub of Electronic City 54 km away. It was also heard in Kalyan Nagar in east Bengaluru, central Bengaluru's MG Road and areas such as Marathahalli, Whitefield, Sarjapur and Hebbagodi.

IAF said no aircraft of training command was flying in the area. "However, ASTE (Aircraft and Systems Testing Establishment) and HAL (Hindustan Aeronautics Limited) could have been undertaking their routine test flying, which necessitates going supersonic at times. These are done well beyond the city limits in specified sectors. However, considering the atmospheric conditions and reduced noise levels in the city during these times, the aircraft sound may become clearly audible even if it happened way out from the city," said the air force statement.

Many people had speculated that the sound could have been caused by a fighter jet such as a Mirage 2000.

"We have also asked the Air Force Control Room to check if it was a jet or supersonic sound. Bengaluru police are awaiting confirmation from the Air Force," Bengaluru police commissioner Bhaskar Rao said in a statement.

It was not an earthquake, Karnataka's state disaster monitoring centre had tweeted earlier.

"Earthquake activity will not be restricted to one area and will be widespread. We have checked our sensors and there is no earthquake activity recorded today," the Karnataka State Natural Disaster Monitoring Centre said, quoting its director Srinivas Reddy.

"The activity reported in Bengaluru is not due to an earthquake. The seismometers did not capture any ground vibration as generally happens during a mild Tremor. The activity is purely a loud unknown noise," the agency tweeted.

#Bangalore and #BangaloreBoom was among the top trends on Twitter this afternoon.

"We are trying to ascertain the source of the noise," a senior police officer said. "In Whitefield area, we have searched on the ground and so far, there is no damage to any property," he added. There were no calls to the police control room reporting any damage.

Bengaluru, Apr 11: Karnataka Congress chief D K Shivakumar on Saturda said that he was hopeful that the Karnataka Chief Minister would take stern action against BJP MLA M Jayaram--who was on Friday seen celebrating his birthday with several villagers in Gubbi taluk in Tumkur, in violation of social isolation measures and nationwide lockdown to fight the coronavirus outbreak.

"I am sure that the Chief Minister will take action on all these types of activities. We have already petitioned the DGP. Suo moto case should be registered immediately," the Karnataka Congress Chief told media.

Speaking about the video conference meeting that Congress President Sonia Gandhi held with all Pradesh Congress Committee (PCC) presidents via video conference, he said: "She has given us directions that the party has to play its own role. She said that the party needs to be very active, apart from the government."

With regards to the farmer's struggles due to the national lockdown, the Karnataka Congress Chief said that the farmers are in a 'very grim situation'. "I appeal to all the people of Karnataka that we should go to the fields and discuss with farmers and buy the materials. Let us purchase their fruits and vegetables and distribute them at the village level."

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.