Oil prices fall as US economic package crashes

News Network
March 23, 2020

Singapore, Mar 23: Oil prices fell at the open in Asia on Monday after a trillion-dollar Senate proposal to help the coronavirus-hit American economy was defeated and death tolls soared across Europe and the US.

US benchmark West Texas Intermediate initially tumbled more than three percent but then pulled back some ground to trade 1.5 percent lower, at $22 a barrel.

Brent crude, the international benchmark, fell 4.9 percent to $25 a barrel.

Prices have fallen to multi-year lows in recent weeks as lockdowns and travel restrictions to fight the virus hit demand, and top producers Saudi Arabia and Russia engage in a price war.

The latest drop came after a trillion-dollar Senate proposal to rescue the US economy was defeated after receiving zero support from Democrats, and with five Republicans absent from the chamber because of virus-related quarantines.

The bill had proposed funding for American families, thousands of shuttered or suffering businesses and the nation's critically under-equipped hospitals.

Coronavirus deaths soared across Europe and the United States at the weekend despite heightened restrictions.

The death toll from the virus -- which has upended lives and closed businesses and schools across the planet -- surged to more than 14,300 Sunday, according to an AFP tally.

AxiCorp chief markets strategist Stephen Innes said that "total demand devastation" had set it.

"Oil markets collapsed out of the gate this morning as prices react... to stringent containment lockdown measures," he said.

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Agencies
February 4,2020

The government suspended all the India-bound air travel from China and has declared all visas 'invalid', on Monday, due to the rapid escalation of cases of novel coronavirus outbreak which originated in Wuhan.

"Embassy and our Consulates have been receiving several queries from Chinese citizens as well as other foreign nationals, who are based out of China or visited China in the last 2 weeks, as to whether they can use their valid single/multiple entry visas to travel to India," tweeted the Embassy of India in Beijing, China.

"It is clarified that existing visas are no longer valid. Intending visitors to India should contact the Indian Embassy in Beijing ([email protected]) or the Consulates in Shanghai ([email protected]) and Guangzhou ([email protected]) to apply afresh for an Indian visa," it said.

Further, regarding the validity of visas, the embassy said, "Indian Visa Application Centres (http://blsindia-china.com) in these cities may also be contacted in this regard. Visa Section of the Embassy/Consulates of India in China can be contacted to ascertain the validity of visa before undertaking any visit to India."

"All those who are already in India (with regular or e-visa) and had traveled from China after January 15 are requested to contact the hotline number of Ministry of Health and Family Welfare of Government of India (+91-11-23978046 and email: [email protected])," the embassy said.

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News Network
June 18,2020

New Delhi, Jun 18: India on Wednesday took strong exception to China claiming sovereignty over the Galwan Valley in eastern Ladakh, saying its "exaggerated and untenable claims" are contrary to the understanding reached on the issue between the two sides.

Ministry of External Affairs Spokesperson Anurag Srivastava's response came after China claimed that the Galwan Valley in eastern Ladakh is a part of its territory.

"As we have conveyed earlier today, External Affairs Minister and the State Councillor and Foreign Minister of China had a phone conversation on recent developments in Ladakh," Srivastava said late Wednesday night.

"Both sides have agreed that the overall situation should be handled in a responsible manner and that the understandings reached between Senior Commanders on 6th June should be implemented sincerely. Making exaggerated and untenable claims is contrary to this understanding," he said.

Earlier on Wednesday, India delivered a strong message to China that the "unprecedented" incident in the Galwan Valley will have a "serious impact" on the bilateral relationship and held the "pre-meditated" action by Chinese army directly responsible for the violence that left 20 Indian Army personnel dead.

In a telephonic conversation, External Affairs Minister Jaishankar conveyed to his Chinese counterpart Wang Wi India's protest in the "strongest terms" and said the Chinese side should reassess its actions and take corrective steps, the Ministry of External Affairs said.

The Chinese Foreign Ministry, in a statement, said the two sides agreed to "cool down the situation on the ground as soon as possible", and maintain peace and tranquillity in the border area in accordance with the agreement reached so far between the two countries.

The clash in Galwan Valley on Monday night is the biggest confrontation between the two militaries after their 1967 clashes in Nathu La in 1967 when India lost around 80 soldiers while over 300 Chinese army personnel were killed.

The India-China border dispute covers the 3,488-km-long LAC. China claims Arunachal Pradesh as part of southern Tibet, while India contests it.

Prior to the clashes, both sides have been asserting that pending the final resolution of the boundary issue, it is necessary to maintain peace and tranquillity in the border areas.

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Agencies
January 4,2020

Stockholm, Jan 4: “I’m not the kind of person who celebrates birthdays,” Greta Thunberg said as she turned 17 on Friday, marking the occasion in inimitable style - with a seven-hour hour protest outside the Swedish parliament.

The climate activist braved winter conditions in her native Stockholm to continue the weekly Friday School Strike for the Climate campaign that helped catapult her to international fame.

“I stand here striking from 8am until 3pm as usual ... then I’ll go home,” Thunberg, Time magazine’s Person of the Year for 2019, told Reuters.

“I won’t have a birthday cake but we’ll have a dinner.”

It’s been a busy 12 months for Thunberg, who crisscrossed the globe by car, train and boat - but not plane - to demand action on climate change.

“It has been a strange and busy year, but also a great one because I have found something I want to do with my life and what I am doing is having an impact,” she said.

When she was 15, Thunberg began skipping school on Fridays to demonstrate outside the Swedish parliament to push her government to curb carbon emissions. Her campaign gave rise to a grassroots movement that has gone global, inspiring millions of people to take action.

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