Petrol, diesel prices likely shoot up over Rs 5 a litre

Agencies
September 17, 2019

New Delhi, Sept 17: Following the largest ever-disruption of crude production in Saudi Arabia amid drone attacks on its key facilities, prices of petrol and diesel in India may shoot up by ₹5 to 6 a litre in next fortnight, experts said on Monday.

A recent report by Kotak said that in light of the sharp rise in international crude oil prices, Indian oil marketing companies (OMCs) may increase the retail price of diesel and gasoline by ₹5 to 6 per litre in the following fortnight.

Oil prices soared as much as 20 percent to above $71 a barrel as markets reopened after a major attack on Saudi Arabia's oil infrastructure.

The attack immediately erased out 5.7 million barrels."These attacks resulted in production suspension of 5.7 million barrels of crude oil per day," Saudi Aramco said in a statement.

Oil prices, experts said, could spike in the next several days as a result of the attack on Saudi Aramco, the second-largest oil producer in the world.

Meanwhile, US President Donald Trump, in a tweet, said: "Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!"

The drone attacks claimed by Yemen's Houthi rebels set alight two major oil facilities run by Aramco on Saturday, the Kingdom's Interior Ministry said.

The Saudi Press Agency, citing a statement by the Ministry, said that the drones caused the fire at the refinery in the city of Abqaiq in the Kingdom's oil-rich Eastern Province, as well as the blaze at the Khurais oil field, around 150 km from Riyadh.

Comments

Farooq
 - 
Tuesday, 17 Sep 2019

This shows the worlds dependency on Saudi Arabia for Oil...

 

 

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 10,2020

Kanpur, Jul 10: Kanpur encounter main accused Vikas Dubey, who was injured in an encounter with the police, died on Friday, the police said.

"Gangster Vikas Dubey arrested for killing eight policemen is dead," confirmed the police.

According to SP Kanpur West Anil Kumar, gangster Vikas Dubey attempted to flee after the car overturned. Dubey attempted to flee by snatching pistol of the injured policemen. However, he was shot in the retaliatory firing.

"Vikas Dubey attempted to flee by snatching pistol of the injured policemen after the car overturned. Police tried to make him surrender, during which he fired at the policemen. He was injured in retaliatory firing by police. He was later rushed to the hospital," SP Kanpur West told reporters here.

Dubey, the main accused in the Kanpur encounter was arrested by the police in Ujjain on Thursday morning. He was on the run for the last six days and had come to Ujjain to offer prayers at Temple, where he was identified by a security guard at the shrine.

The gangster is 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 allegedly opened fire on a police team, which had gone to arrest Dubey. Eight police personnel were killed in the encounter.

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

Bahua Dubey and Prabhat Mishra, close aides of the main accused, were killed in separate encounters in Etawah and Kanpur respectively, on Thursday.

The main accused's other aide Shyamu Bajpai was arrested by the Chaubeypur police following an encounter. He carried a reward of Rs 25,000, the police informed on Wednesday. Earlier the same day, Uttar Pradesh's Special Task Force (STF) gunned down Vikas Dubey's close aide Amar Dubey in Hamirpur district.

Comments

Kannadiga
 - 
Friday, 10 Jul 2020

No one fool other than ghobar society will believe on this news. Totally a goonda raj by yogiraaj.  He tried to offer 1crore to all killed policemen. But locals obligation now this is the  new drama. One way this is a lesson to his and his chaddi society's followers that party can take their own soldiers life for the self benefit.

Long Live India

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 6,2020

Feb 6: India has been ranked 40th out of 53 countries on a global intellectual property index, even as the country has shown improvement in terms of scores when it comes to the protection of IP and copyright issues, a top American industry body said on Wednesday.

India was placed at 36th position among 50 countries in 2019.

India's score, however, increased from 36.04 per cent (16.22 out of 45) in 2019 to 38.46 per cent (19.23 out of 50) in 2020, a 2.42 per cent jump in an absolute score.

However, India's relative score increased by 6.71 per cent, according to the International IP Index released by Global Innovation Policy Center or GIPC of the US Chambers of Commerce.

This year, it finds itself on the 40th place among 53 countries. Two new Index economies (Greece and the Dominican Republic) scored ahead of India. The Philippines, and Ukraine leapfrogged India.

"Since the release of the 2016 National IPR Policy, the government of India has made a focused effort to support investments in innovation and creativity through increasingly robust IP protection and enforcement," the GIPC said.

Since 2016, India has improved the speed of processing for patent and trademark applications, increased awareness of IP rights among Indian innovators and creators, and facilitated the registration and enforcement of those rights, it added.

According to the eighth edition of the annual report, India's score on the Chamber's International IP Index demonstrates the country's growing investment in IP-driven innovation and creativity. The Index specifically highlights a number of reforms over the last year that strengthen India's overall IP ecosystem, it said.

"In 2019, the Delhi High Court used dynamic injunctions to disable access to copyright-infringing content online, resulting in an increase in India's score on two of the copyright-related indicators," it said.

"The use of these injunctions places India alongside global leaders in copyright enforcement, including Singapore and the UK. As a result, India scores ahead of 24 other economies in the copyright indicators," the report said.

The Delhi High Court also issued a series of judgements that provide clarity on existing statutes related to trademark protection online, resulting in a score increase on one of the trademark-related indicators, it added.

The courts issued two precedential rulings that raised the bar for the damages awarded in IP-infringement cases and may provide a deterrent for future infringement. This resulted in an increase in score on one of the trademark-related indicators, it said.

Global Innovation Policy Center or GIPC said India also continues to score well in the Systemic Efficiency indicator, scoring ahead of 28 other economies in these indicators.

"This is a result of a concerted effort by the Indian government to consult with stakeholders during IP policy formation and create greater awareness about the importance of IP protection,” it said adding that India also remains a leader in the use of targeted incentives and IP assets for small and medium-sized enterprises (SMEs).

“To continue this upward trajectory, much work remains to be done to introduce transformative changes to India’s overall IP framework and take serious steps to consistently implement strong IP standards," the report said.

GIPC has identified several challenges for India. Prominent among them being patentability requirements, patent enforcement, compulsory licensing, patent opposition, regulatory data protection, transparency in reporting seizures by customs, and Singapore Treaty of Law of TMs and Patent Law Treaty.

"We are encouraged that Indian policymakers seem to recognize this Index as a valuable resource in their efforts to strengthen the country’s promising innovation ecosystem and enhance its competitiveness in an increasingly knowledge-based global economy,” the report said.

Observing that no other economy stands to gain more from strong Indian IP than India itself, the report said for example, no industry has been hurt more by copyright violations in India than the country’s own Bollywood industry, which loses almost USD3 billion to piracy each year.

"The number one way the Modi administration can demonstrate its commitment to the success of the Atal Innovation Mission, Accelerating Growth for New India’s Innovations, Make in India, Digital India, and Startup India is to strengthen its IP framework in ways that promote the legal and regulatory certainty necessary for greater R&D investment, high-value jobs, and greater innovative and creative outputs,” it said.

"Strong IP standards can further solidify India's position as the world’s fastest-growing economy, bolstering its reputation as a destination for doing business, foreign businesses’ ability to invest and make in India, thereby supporting the growth of India’s own innovative and creative industries," the report said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 4,2020

Pune, Jul 4: Now that wearing mask in public places has become the new normal, a resident of Pimpri-Chinchwad of Pune district, Shankar Kurade has got himself a mask made of gold worth Rs 2.89 lakhs amid the COVID-19 pandemic.

"It's a thin mask with minute holes so that there is no difficulty in breathing. I am not sure whether this mask will be effective," said Kurade.

Kurade loves wearing gold ornaments and his hands and neck are loaded with jewellery.

This unique idea struck him soon after he saw a man wearing a silver mask on social media.

"I saw a video on social media of a man in Kolhapur wearing a silver mask and then an idea struck me to have a mask of gold. I talked to a goldsmith and he gave me this five and a half pound gold mask in a week," said Kurade.

"All my family members love gold, if they too demand it, then I will get it designed for them too. I do not know if I will be infected with coronavirus wearing a gold mask or not, but following all the rules of the government can prevent the spread of virus," he added.

Since childhood, Shankar is very fond of gold ornaments, that is the reason he wears gold rings in all the fingers, gold bracelets on his wrist and huge gold chains around his neck.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.