Salaries, pensions to take away major chunk of Rs 43,543 cr worth budget
Salaries, pensions to take away major chunk of Rs 43,543 cr worth budget
Finance Minister Abdul Rahim Rather reading budget speech in Legislative Assembly on Thursday. -Excelsior/Rakesh
Finance Minister Abdul Rahim Rather reading budget speech in Legislative Assembly on Thursday. -Excelsior/Rakesh
Army and SOG team returns after successful operation in Shopian on Thursday. -Excelsior/Sajad Dar
Army and SOG team returns after successful operation in Shopian on Thursday. -Excelsior/Sajad Dar
Black box found as Algeria seeks cause of deadly plane crash
OUM EL BOUAGHI (ALGERIA), Feb 12: Algerian search teams recovered one of the black box flight recorders of a military plane today in their quest for clues to why it crashed killing all but one of 78 people on board.
Algerians began three days of mourning for the dead from the crash of the C-130 Hercules transport aircraft in the mountainous Oum El Bouaghi region of the northeast yesterday — the country’s worst air disaster in a decade.
Officials said one seriously injured survivor was found in the wreckage.
The remainder of the 74 passengers and four crew were all killed when the plane came down in bad weather.
A source close to the specialist search teams said they had located the black box flight recorder, which was in “good condition,” the national APS news agency reported.
The plane had plummeted “nose first” before hitting the ground, the source said, adding that it would have been contending with strong winds and poor visibility.
Emergency services chief Mustapha Lahbiri said search teams had been scouring the snowy and rugged area with sniffer dogs since early morning.
The male survivor, who was in a “critical” condition after suffering serious head injuries, was being treated in a military hospital in the city of Constantine, east of the capital, where the plane had been headed.
Bereaved families arrived at the same Constantine hospital throughout the day to collect their loved ones’ remains.
Among the dead were the wife and daughter of a senior military officer, the defence ministry said.
The plane was flying from the desert garrison town of Tamanrasset in the deep south to Constantine, 320 kilometres east of Algiers, and lost contact with the control tower as it was preparing to make its descent.
Algerian television broadcast images of the crash scene showing the broken carcass of the aircraft lying in a mountainous snowy landscape, at an altitude of 1,500 metres .
“School notebooks and military duffle bags were also visible at the site of the crash,” a source at the scene of the crash told AFP. (AGENCIES)
Crude oil futures down 0.18 pc on weak Asian cues
NEW DELHI, Feb 13: Crude oil futures prices today fell by 0.18 per cent to Rs 6,215 per barrel, as speculators trimmed positions amid a weakening trend in the Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in March fell Rs 11 or 0.18 per cent, to Rs 6,215 per barrel in 456 lots.
Similarly, the oil for February delivery moved down by Rs 10, or 0.16 per cent, to Rs 6,210 per barrel in 5,736 lots.
The trading sentiment turned weak at futures trade after crude oil prices declined in Asian trade, but losses were curbed on upbeat sentiment over demand in the US and China, analysts said.
Meanwhile, West Texas Intermediate crude prices for March delivery eased by 18 cents to USD 100.19 a barrel on the New York Mercantile Exchange. (AGENCIES)
Chana futures extend gains, up 0.72 pc on spot demand
NEW DELHI, Feb 13: Chana prices extended gains for the second straight day by adding 0.72 per cent to Rs 2,936 per quintal in futures trade today as speculators engaged in enlarging positions, driven by strong demand in the spot market.
At the National Commodity and Derivative Exchange, chana for delivery in February added Rs 21, or 0.72 per cent to Rs 2,936 per quintal with an open interest of 19,730 lots.
Similarly, the commodity for delivery in April gained Rs 15, or 0.50 per cent to Rs 3,026 per quintal in 94,210 lots.
Analysts said speculators enlarged positions, driven by strong demand from dal mills as well as retailers in the spot market mainly helped chana prices remained up for the second day at futures trade. (AGENCIES)
Sugar surges as Govt approves subsidy for raw sugar exports
NEW DELHI, Feb 13: Sugar prices climbed Rs 35 to Rs 2,740 per quintal in futures trading today as participants indulged in creating speculative positions after the Government approved subsidy for exports of raw sugar.
However, sluggish demand from bulk consumers, limited the gains.
At the National Commodity and Derivatives Exchange, sugar for delivery in February traded Rs 35, or 1.29 per cent, higher at Rs 2,740 per quintal with an open interest of 8,000 lots.
Likewise, the sweetener for delivery in March traded Rs 24, or 0.87 per cent higher at Rs 2,773 per quintal in 19,590 lots.
Market analysts attributed the rise in sugar prices at futures to speculative positions created by participants after the Government yesterday approved a subsidy of Rs 3,333 per tonne for exports of raw sugar to boost overseas sales and help the cash-starved industry to pay arrears to sugarcane farmers.
They said, however, subdued demand from bulk consumers, limited the gains. (AGENCIES)