Muslim techie washed away in Cauvery while taking selfie; Hindu friend sacrifices his life in rescue bid

Mangaluru, Mar 29: Dakshina Kannada Co-operative Milk Producers’ Union Limited in a statement announced that their milk collection centres across Dakshina Kannada and Udupi districts will be closed on March 29 and 30.

Due to a shortage of storage space with them, the Union has decided to stop collecting milk on these two days, according to the statement issued here on Saturday.

The sale/retail of milk and milk products won’t be affected in these two days.

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, Feb 12: Hinting at the possibility of a consolidation of ex-Janata Parivar leaders, JD(S) supremo HD Deve Gowda said Tuesday his party was open to talk to any former Janata leaders, who are at present either in various factions of the Janata Dal or in Congress and BJP. The veteran leader also appreciated Arvind Kejriwal-led AAP's way of work.

At the party's National Executive Committee meeting held here, Gowda said that some ex-Janata Parivar leaders had reached out to him in this regard. His comments come at a time when JD(U) leader Mahima Patel recently rekindled the debate of a unified Janata Parivar.

However, Deve Gowda was clear that he was not interested in pursuing anyone who was happy with the party they were in. "It's a waste of time to pursue someone who has seen success within their party. I am not going to do that. I am willing to persuade only those who are not holding any office at present," he said. He added that he had already asked party leaders in Kerala to take the initiative and figure out ways to bring leaders together. As for other places, it would take him some time to reach out people, he added.

The party, which organised the National Executive Meet here on February 10 and 11, spoke of strategies to rejuvenate the party from the grassroots level. The party is also conducting a membership drive.

'Much to learn from AAP'

There is much to learn from Aam Aadmi Party, which registered a victory in Delhi elections on Tuesday, said Devegowda. "Kejriwal has showed that caste does not matter. There is lesson to be learnt from the work done by AAP," he said. Later in the day, Deve Gowda also wrote a letter to Arvind Kejriwal, congratulating him on his victory.

On the occasion, the party also came up with resolutions to urge the central government to release pending amount of GST it owed to state governments apart from focusing on development of labour, industries and agriculture; to demand the centre to rollback decision on CAA, NRC and NPR and to urge the centre to pass the women's reservation bill.

At the JD(S) National Executive Meet, even as news poured in about the victory of Aam Aadmi Party in Delhi elections, the JD(S) leaders celebrated Arvind Kejriwal's victory. Seeing it as an optimistic sign for regional parties across the country, the leaders distributed sweets to mark the hat trick win of Kejriwal.