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Oil prices plummet again; Oil production economies into crisis

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Oil prices drop

Oil prices fall in the global market as Corona continues to expand. The main reason for the drop in oil prices is the shortage of oil requirements and lack of storage facilities. US West Texas Intermediate crude oil fell 7.14 percent to $ 12.1 a barrel. The 25 percent decline in prices happened on Monday. The fall in oil prices has had serious impacts on the stock market as well.

In the wake of the ongoing global lockdown, the economic sector’s performance has been almost stagnant. Producer and consumer countries do not have the capacity to store oil. Public and private travel systems are strictly prohibited in most countries. Oil consumption has fallen by 30 million barrels per day since the lockdown. The OPEC countries and Russia have agreed to reduce oil production by 10 million barrels from May 1. The fall in oil prices has hit the oil producer and the Middle East. The decline is reflected throughout West Asia.

Crude oil-dependent countries are trying to offset the revenue loss. The International Monetary Fund expects the economy of all Arab and Gulf oil exporters to shrink this year. The International Monetary Fund estimates that Iraq will have a five percent decline. The fall in oil prices could derail future investment and development projects.

Most countries are planning big cuts in the social benefits that millions of workers rely on to overcome the crisis. Saudi Arabia, the region’s largest producer of raw materials, plans to cut costs by five percent, or $ 13.3 billion. Other large global oil producers also face job losses and financial woes.

COVID-19 test positive in Niti Ayog employee; the office was sealed

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New Delhi: Covid confirmed to an employee of Niti Aayog headquarters-Niti Bhavan. With this, the building was closed for cleaning.

The directive is to follow the guidelines of the Ministry of Health. Officials said the disinfection process had begun in the office building and that people who had recently been diagnosed with the disease were asked to go under self-quarantine.

Including CBSE, the rest of the exam will be conducted after lockdown

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New Delhi: Union Cabinet Minister Ramesh Pokriyal has said that the rest of the exams, including CBSE, will be conducted only after the lockdown has been completely withdrawn. Ramesh Pokriyal will hold a video conference with state education ministers to assess the situation. Universities and schools nationwide have been closed since March 16.

COVID-19; Partial Lockdown Continued May 15

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Thiruvananthapuram: Chief Minister Pinarayi Vijayan said he has informed the Center that a partial lockdown could be continued till May 15 to counter COVID 19 in Kerala. Further action may be taken to look into the situation on May 15.

The Union Home Minister had earlier demanded that Kerala address its key demands. The Chief Minister said that the Prime Minister and the Home Minister were informed on Sunday.

Kerala has also demanded that international and inter-state trips be regulated till May 15. The demand for the P.P.E kit has been on the rise and the Center has been asked to take on the responsibility of mobilizing the supplies needed for COVID defense.

The Chief Minister has requested the Prime Minister to pay for the airfare of expatriates, low income, jailed, part-time students, unemployed, and labor camps. The central government should immediately announce the rehabilitation package for those who have lost their jobs due to lockdown. Plans must be devised to make use of their skills. The chief minister said that the prime minister should be given priority in bringing back those who have gone for short term visits, those who are not fulfilling their living needs, and those who need medical help.

It is estimated that there are about four lakh guest workers in Kerala at present. There was a demand for non-stop trains to take them back in stages. The Center should pay immediate attention to Malayalee health workers and nurses working in other states. They should be provided with clean Quarantine facilities. The issues of nurses from Kerala have been addressed to the Chief Ministers of the respective States. The state’s interest is in the Prime Minister’s swift intervention.

The focus should be placed on mitigating the economic impact of the lockdown. According to the available data, experts estimate that the total value addition of Kerala in the first quarter of the financial year 2020-21 was Rs. 80,000 crore. If the situation does not improve, the losses will still increase. The total loss of wages for casual workers is around Rs 14,000 crore during the lockdown period. The hotel and restaurant sectors lost Rs 6,000 crore and Rs 14,000 crore, respectively. The fisheries and information technology sectors are some of the areas that have suffered significant job losses.

The lockdown has been very adversely affecting small traders. Their incomes have plunged them into a deeper financial crisis. The vast majority are self-employed. Special consideration should be given to small traders. The central government should support them through a package under the National Disaster Relief Fund. The National Income Assistance Scheme should be implemented for the survival of the workers in the unorganized sector. Small businessmen affected by lockdown should get loans of Rs 2 lakh to Rs 5 lakh. The interest of this loan should be borne by the Center as a relief measure. The CM also appealed to the Prime Minister to provide the necessary subsidy for employment.

Lockdown measures have resulted in large-scale losses for small businesses. Fifty percent interest concession for existing loans. Action should be taken to pay ESI wages to the workers of small enterprises. The ceiling on the contribution to the EPF should be increased from 15,000 to twenty-five thousand. The Chief Minister said that the Center wanted to ensure that there was an adequate supply of food grains and pulses to the states.

Jiomart opened up; Product Distribution via WhatsApp

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New Delhi: Mukesh Ambani launches Jiomart to capture the e-commerce market in India. JioMart came into effect within three days of a commercial deal with Facebook. The service has been launched in suburban Mumbai’s Navi Mumbai, Thane, and Kalyan. It will gradually spread throughout India.

Orders can be accepted through Jiomart’s WhatsApp number 88500 08000. WhatsApp Chat users send a link. The link will only work for 30 minutes.

Clicking on the link will open the information page, including your address and phone number. Upon completion, it will get a catalog of products. Orderform will accompany it. When you pick up products from the shop, you will receive cash on time.

WhatsApp currently has over 400 million users in India. This will help Reliance’s business.

Panthirankavu Maoist case; NIA filed a Charge sheet

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Kochi: National Investigation Agency filed a charge sheet in Kozhikode Panthirankavu Maoist case. The charge sheet filed against three accused, Alan Shuhaib, Thaha Fasal, C P Usman in the case. The case registered according to UAPA.

Yellow Alert, Thunderstorm; Warning in Kerala

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Thiruvananthapuram: The Central Meteorological Department has warned that strong rains could be experienced in some parts of Kerala. The Department of Meteorology has forecast that the thunderstorm will continue over the next five days. The Central Meteorological Department has issued a Yellow Alert in Idukki on April 26, Kottayam on April 27, Pathanamthitta on April 28, Kottayam on April 29 and Wayanad on April 30.The isolated areas are predicted to receive heavy rainfall of 64.5 mm to 115.5 mm in 24 hours. The yellow alert is meant to alert the public and concerned officials about the situation. The Department of Meteorology has forecast thunderstorms and strong winds in some parts of the state from April 26 to April 30, 2020. Strictly follow the thunderstorm alert issued by the State Disaster Response Authority.

COVID 19; Robots will take care of patients in Karnataka

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New Delhi: Robots will take care of COVID 19 patients in Karnataka. The test is being carried out at Victoria Hospital, Bangalore. The goal is to prevent nursing staff or other related health workers from getting infected. The robots will be operated by remote control.

Yes bank scam: DHFL promoters arrested

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Yes bank scam

The promoters of DHFL (Diwan Housing Finance Limited), a leading private finance company have been arrested in connection with a multi-crore corruption scam involving Yes Bank. The Central Bureau of Investigation (CBI) has arrested Kapil Wadhawan and Dheeraj Wadhawan. The Wadhavan family, including 10 members of the Wadhawan family, who arrived in Pune from Mahabaleshwar after breaking the lockdown, was home quarantine. From there, the Wadhawan brothers have been arrested.

The CBI has arrested Kapil Wadhawan and Dheeraj Wadhavan from Mahabaleshwar in Maharashtra. The arrests were made by the CBI special court with the non-bailable arrest warrant in cooperation with district authorities in Satara. The two accused will be produced before a special CBI court in Mumbai, ”the CBI said in a statement.

The CBI filed a case against the Wadhavan brothers on March 7. The case relates to the corruption of crores of rupees with Rana Kapoor, managing director of Yes Bank. The CBI says Kapil and Dheeraj have been absconding since the start of the investigation. On March 9, police raided the homes of the accused but could not find them.

The CBI subsequently issued a notice to them but the accused did not accept it. A non-bailable warrant was issued on March 17. The Enforcement Directorate is also investigating allegations of money laundering by Yes Bank.

‘Immunity passport’ for those recovering from COVID; World Health Organization warns

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coronavirus

Delhi: The World Health Organization (WHO) has issued a warning against the proposal to issue an Immunity Passport (Risk-Free Certificate) for people with COVID disease. The WHO has warned that people who are infected cannot guarantee they will never get sick again, so issuing such a certificate could only make it more dangerous.

 Some governments have recommended that people who are infected with the virus get a risk-free certificate. The WHO warned against this. The WHO said there were directives from various countries to allow risk-free certificates to travel and return to work. There is no evidence that antibodies in the body of people with corona disease prevent a recurrence. More research needs to be done in this regard. Immunity certificates continue to increase the risk of the virus spreading, WHO said.

 The World Health Organization (WHO) said that further validation is needed to determine the accuracy and reliability of new coronavirus antibody tests. The UN General Assembly had earlier opposed the proposal to issue an immunity passport. Meanwhile, the World Health Organization (WHO) has dismissed allegations that COVID had created the virus. According to the available evidence, the novel coronavirus is naturally occurring in animals.

 The WHO suggested that when developing the vaccine against COVID, the country needs to make plans to reach out to countries without discrimination. “Once the vaccine or drug is developed, it should be available to everyone equally. Otherwise, the situation will worsen, the WHO said.