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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News Network
February 18,2020

Washington, Feb 18: The upcoming visit of President Donald Trump to India later this month has the potential to usher in a new era of bilateral ties between the two countries, a top American business advocacy group has said.

President Trump will pay a state visit to India on February 24 and 25 at the invitation of Prime Minister Narendra Modi. He would be accompanied by First Lady Melania Trump.

This would be the president's first bilateral visit in the third decade of the 21st century and also the first after his acquittal by the Senate in the impeachment trial.

"I believe President Trump's upcoming visit to India has the potential to usher in a new era of our bilateral ties," Mukesh Aghi, President of the US India Strategic and Partnership Forum (USISPF) said in a statement on Monday.

On the sidelines of the visit, the USISPF, in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the ORF, has announced to organise a program entitled "US-India Forum: Partners for Growth".

The full-day discussion will focus on the key pillars defining India and the US' strategic, economic, and cultural partnership over the next decade.

"We have an opportunity before us to make real progress on multiple aspects of the relationship— whether it is upholding peace and security in the Indo-Pacific region; building upon an already strong energy partnership; developing co-production and co-development opportunities in the defense space; or strengthening bilateral trade," Aghi said.

"We look forward to an extremely successful visit and some concrete outcomes from the visit," he said.

The day-long programme on February 25 in New Delhi, will bring together over 500 senior business executives, members of the US-India think tank community and leading figures of the Indian diaspora to set the agenda for this strategic partnership.

Discussions during the day will touch upon areas, including the Indo-Pacific Strategy and Maritime Security; the US-India Defence Partnership, the US-India Energy Partnership, Elevating US-India Trade and Investment and Role of the Indian Diaspora in US-India Relations.

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News Network
January 7,2020

Jan 7: A Delhi Court today issued death warrant against four convicts in the 2012 Nirbhaya gang-rape and murder case. The hanging will take place on January 22 at 7 am.

During the hearing, the prosecution said there was no application pending before any court or the President right now by any of the convicts and the review petition of all the convicts was dismissed by the Supreme Court.

On Monday, the court had reserved order on issuing of death warrants against four death row convicts.

Today's order comes days after mother of the victim in the 2012 Delhi gang-rape and murder case moved the Supreme Court on opposing the plea filed by one of the four death-row convicts seeking review of its 2017 judgement awarding him death penalty.

The apex court had on July 9 last year dismissed the review pleas filed by the other three convicts — Mukesh (30), Pawan Gupta (23) and Vinay Sharma (24) — in the case, saying no grounds have been made out by them for review of the 2017 verdict.

The 23-year-old girl was gangraped and murdered by six men on a moving bus on 16 December 2012. The main accused, Ram Singh, allegedly committed suicide in Tihar Jail during the trial. Another accused was a minor at the time of the commission of the crime and was sent to a reform facility and released after three years.

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News Network
June 6,2020

New Delhi, Jun 6: With 9,887 new positive cases reported in the last 24 hours, India's COVID-19 count touched 2,36,657 on Saturday surpassing Italy's latest tally of over 2.34 lakh, taking India to the sixth spot among countries with the highest caseloads of the virus.

The Union Ministry of Health and Family Welfare (MoHFW) said that India registered a spike of 9887 new cases and 294 deaths in the past 24 hours taking the tally to 1,15,942 active cases and 6642 deaths.

Today's count was the highest single-day spike in the country, which has now overtaken Italy, according to the tally posted by the Johns Hopkins University which posted that globally the coronavirus had infected over 66.64 lakh people and claimed over 3.91 lakh lives so far.

In india, the MoHFW informed that 1,14,073 persons have been cured/discharged/migrated so far.

Maharashtra remains the worst-hit State as the total number of COVID-19 positive cases reached 80,229. While the total number of active cases in the state stands at 42,224.

In Tamil Nadu, 28,694 cases have been detected so far while Delhi has reported 26,334 coronavirus cases.

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