UK Parliament approves Brexit bill, govt to begin exit process by Mar 31

Hong Kong, Apr 20: Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while equities were mixed, with some support coming from signs that the coronavirus may have peaked in Europe and the United States.

US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below 15 -- its lowest since 1999 -- as stockpiles continue to build owing to a crash in demand caused by the COVID-19 pandemic.

Analysts said this month's agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis because of lockdowns and travel restrictions that are keeping billions of people at home.

WTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up.

ANZ said "crude oil prices remained under pressure, as projections of weaker demand weigh on sentiment".

"Despite the OPEC+ alliance agreeing to an unprecedented cut in output, the physical market is awash with oil," it said, referring to the Organization of the Petroleum Exporting Countries and non-OPEC partners.

And AxiCorp's Stephen Innes added: "It's a dump at all cost as no one... wants delivery of oil, with Cushing storage facilities filling by the minute.

"It hasn't taken long for the market to recognise that the OPEC+ deal will not, in its present form, be enough to balance oil markets." Stock traders were in slightly more buoyant mood as governments start to consider how and when to ease lockdowns that have crippled the global economy.

Italy, Spain, France and Britain reported drops in daily death tolls and slowing infection rates.

"We are scoring points against the epidemic," said Prime Minister Edouard Philippe, while insisting "we are not out of the health crisis yet".

Meanwhile, in the US, Andrew Cuomo, governor of badly hit New York state, said the disease was "on the descent", though he cautioned it was "no time to get cocky".

Mounting evidence suggests that the lockdowns and social distancing are slowing the spread of the virus.

That has intensified planning in many countries to begin loosening curbs on movement and easing the crushing pressure on national economies.

Adding to the sense of hope was a report indicating promising research on a drug to treat coronavirus.

Hong Kong, Shanghai and Seoul were each up 0.1 percent, while Wellington added 0.4 percent.

However, Tokyo went into the break 0.9 percent lower, while Sydney and Manila dropped one percent apiece. There were also losses in Taipei, Singapore and Jakarta.

"The longer investors have to contemplate future economic issues while they wait for more countries to be on the downward slope of the pandemic curve, the more scope there is of risk assets pricing in a difficult future," Chris Iggo, of AXA Investment Managers UK, said.

Investors are keeping an eye on Washington, where Congress and the White House are working towards a 450 billion economic relief plan for small business to add to the trillions already pledged to support the economy.

Big-name companies including IBM, Netflix and Coca-Cola are due to deliver their earnings reports.

Seoul, Jun 16: North Korea blew up an inter-Korean liaison office on its side of the border on Tuesday, the South's Unification Ministry said, after days of increasingly virulent rhetoric from Pyongyang.

"North Korea blows up Kaesong Liaison Office at 14:49," the ministry, which handles inter-Korean relations, said in a one-line alert sent to reporters.

The statement came minutes after an explosion was heard and smoke seen rising from the long-shuttered joint industrial zone in Kaesong where the liaison office was located, Yonhap news agency reported citing unspecified sources.

Its destruction came after Kim Yo Jong, the powerful sister of North Korean leader Kim Jong Un, said at the weekend: "Before long, a tragic scene of the useless north-south joint liaison office completely collapsed would be seen."

Since early June, North Korea has issued a series of vitriolic condemnations of the South over activists sending anti-Pyongyang leaflets over the border -- something defectors do on a regular basis.

Last week it announced it was severing all official communication links with South Korea.

The leaflets -- usually attached to hot air balloons or floated in bottles -- criticise North Korean leader Kim Jong Un for human rights abuses and his nuclear ambitions.

Analysts say Pyongyang may be seeking to manufacture a crisis to increase pressure on Seoul while nuclear negotiations with Washington are at a standstill.

Earlier Tuesday, North Korea's army said it was "fully ready" to take action against the South, included re-entering areas that had been demilitarised under an inter-Korean agreement.

"North Korea is frustrated that the South has failed to offer an alternative plan to revive the US-North talks, let alone create a right atmosphere for the revival," said Cheong Seong-chang, a director of the Sejong Institute's Center for North Korean Studies.

"It has concluded the South has failed as a mediator in the process."

Washington, Jun 24: An Indian restaurant in the Sante Fe City of New Mexico, owned by a Sikh, was broken into and vandalised with hate messages scrawled on its walls, a media report said Tuesday.

The damage caused to India Palace restaurant is estimated to be worth USD 100,000, local Santa Fe Reporter said adding that the vandalisation is being investigated by local police and the FBI.

Sikh American Legal Defense and Education Fund (SALDEF) has condemned the incident.

"This kind of hate and violence is unacceptable and swift action must be taken to ensure the safety and security of all Americans," said Kiran Kaur Gill SALDEF executive director.

According to the local daily, tables were overturned, glassware was smashed into piles on the floor, wine racks were emptied, a statue of a goddess was beheaded and computers were stolen.

The vandals also turned over and destroyed food warmers while the front desk area was devastated, plates smashed and the kitchen rendered completely unusable, it said.

"I walked into the kitchen, I saw everything and I was like, hold on, what? What is going on here?" owner Baljit Singh told Santa Fe Reporter. "White power," "Trump 2020," "go home," and far worse were spray-painted on walls, doors, counters and any other available surface.

"Some phrases contained threats of violence and derogatory racial slurs," the daily said.

"Santa Fe is a peaceful town, and the Sikh community has lived here, beautifully integrated, since the 60s," said SALDEF board member Simran Singh, who lives minutes away from the restaurant.

"Tensions have flared recently with the reinvigoration of the Black Lives Matter movement and the removal of statues associated with Spanish colonisers of this area, who committed a number of atrocities," he said.

"Nevertheless, we are seeing an outpouring of love and support around the city and in my experience, our neighbors love and appreciate us, as we love and appreciate them," he added.

SALDEF said that it has seen an unprecedented rise in hate crimes including the April 29 incident wherein a Sikh American Lakhwant Singh was brutally attacked by a man identified as Eric Breeman in Lakewood, Colorado.

Lakhwant Singh was told to "go back to your country," while being attacked. No formal hate crime charges have been brought against the attacker.