Murdered techie laid to rest; Infosys promises Rs 1 cr, job for her family

Srinagar, Jan 14: Davinder Singh, deputy superintendent of police, who was arrested on Saturday along with two Hizb terrorists and a Hizb overground worker in Kulgam, has confessed to his interrogators that he had received Rs 12 lakh from the terrorists to ferry them to Jammu and then Chandigarh for their onward journey to New Delhi, IG (Kashmir) Vijay Kumar told the media here on Monday.

Intelligence sources said the terrorists planned to carry out attacks on Republic Day.

The DSP was suspended on Monday and is likely to be stripped of all his awards, including the President’s Police Medal for anti-militancy operations.

Davinder, who was interrogated by various intelligence agencies, including IB, military intelligence and RAW, besides the police, has disclosed that he had put up the terrorists at his Indira Nagar house in Srinagar, right next to the Army’s 15 Corps HQ, and thereafter accompanied them to Jammu in a Maruti car driven by the Hizb overground worker, intelligence sources claimed.

Meanwhile, sources said the Union home ministry may hand over the case to the NIA to find the real motive of the terrorists, Davinder’s links to terrorism and whether he had helped terrorists in the past as well.

The two Hizb terrorists arrested with Davinder are Naveed Babu alias Babar Azam, a resident of Nazneenpora in south Kashmir’s Shopian district, and his associate Rafi Ahmad Rather. The Hizb overground worker, identified as Irfan Shafi Mir, was driving the vehicle when it was intercepted by the police on Saturday. Irfan Shafi Mir has travelled to Pakistan five times on his passport.

Davinder, interestingly, was on duty ensuring security cover for the envoys of 15 countries who visited Srinagar at the Union government’s invitation last week.

Mangaluru, Jul 26: Karnataka government has initiated steps to provide insurance cover for priests and others working in temples coming under the Endowment Department -- a move that will benefit 50,000 people and their families.

Speaking to media here on Saturday evening, Minister for Endowment Kota Srinivas Poojary said there is a need to implement the decision at the earliest to provide relief to the priests and families of employees working in temples.

Department officials have been directed to include employees of state-owned temples under the Pradhan Mantri Jeevan Jyothi Bima scheme and also enrol them under State Bank of India’s group personal accident insurance policy at the earliest. The Central insurance scheme will provide Rs 2 lakh cover to family members in case of death due to accidents.

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.