Day: May 28, 2020

Oil Extends Slide Near $32 on Signs U.S. Stockpiles Swelled

(Bloomberg) — Oil extended its drop to trade near $32 a barrel after a U.S. industry report signaled crude inventories swelled for the first time in three weeks, raising fresh concerns about excess supply.

Futures fell 2.7% in New York, putting the market on track for its first back-to-back daily decline in three weeks. The American Petroleum Institute reported that stockpiles expanded by 8.73 million barrels last week, according to people familiar with the data. If confirmed by government figures on Thursday, it would be the biggest increase this year.

Oil’s rally started to falter Wednesday after Moscow signaled that

CEA Subramanian tells banks how to earn profits: Don’t earn just 3.5% on your money, do this instead

 

CEA Subramanian has assured that banks will not have to bear the risk of aggressive lending as the government has fully guaranteed most of the loans.

Chief Economic Adviser Krishnamurthy Subramanian has suggested banks to aggressively lend and earn higher interest, instead of earning only 3.5 per cent from parking funds in the reverse repo with the RBI. CEA Subramanian has assured that banks will not have to bear the risk of aggressive lending as the government has fully guaranteed most of the loans. Pointing towards the Rs 3 lakh crore loans to MSMEs, CEA Subramanian said in an

Kerala’s app for booze – BevQ – leaves people unimpressed, gets negative reviews

Bev Q is a virtual queue application, a token generating service provided in liquor shops by Kerala State Beverages Corporation Limited (Bevco).

The much-awaited app by the Kerala government to facilitate home delivery of liquor in the state – BevQ -has left people confused and disappointed. The app has received more than 1 lakh downloads but its rating on the Google play store is just 2.5 after it was listed late on May 27. People are apparently upset over glitches in the app.

Bev Q is a virtual queue application, a token generating service provided in liquor shops by Kerala