Category: Business

Business

Heavy rush in markets as Eid nears

Editor

With just two days to go for Eid-ul-Fitr, markets across the Valley, including summer capital Srinagar, wore a festive look today as people came out in large numbers for shopping. The business hub Lal Chowk, Goni Khan and Maharaja Bazar witnessed heavy rush of people buying essential items for the Eid which is scheduled to be celebrated on July 6 or 7 depending on the appearance of the crescent as Muslims follow the lunar calendar. Bakeries, confectioneries, toy shops witnessed a heavy rush of customers as the locals started preparing…

Read More

Banks will not exchange pre-2005 notes

Editor

RBI designates 20 offices across country to swap them Banks will no longer exchange notes introduced prior to 2005. The Reserve Bank of India has designated 20 select offices across the country where people can directly approach for exchange of such notes. However, persons having such notes can also deposit them with their bank and the bank will in turn send them to RBI. According to press note issued by it, the Reserve Bank of India has observed that a major portion of the pre-2005 banknotes have been withdrawn from…

Read More

State to submit Rs 500-crore proposal to Centre for Wular Boulevard

Editor

To promote ecotourism, the J&K Government is going to construct a 21.4-km-long boulevard around Wular lake — one of the largest freshwater lakes in South Asia. The Rs 500-crore proposal for the 350-foot-wide boulevard from Bakshibal to Haritar village along the banks of the Wular is likely to be submitted to the Ministry of Environment and Ecology next month. “The construction of the 21.4-km-long boulevard along the third-line flood protection bund from Bakshibal to Haritar village is under the active consideration of the government and a proposal for it will…

Read More

JK awaits Centre’s nod to extend permit for foreigners

Editor

The Jammu and Kashmir government today said a reminder has been sent to the Centre on its proposal to permit foreign tourists to visit some hitherto restricted areas in Nubra valley bordering Pakistan-administered Kashmir (PaK) and China in the Ladakh region. The state government has requested the Ministry of Home Affairs to extend the inner line permit for foreign tourists further from Panamik to Warshi, including Yarma-Gompa and Yarma-Gonbo monasteries in Nubra valley, Chief Minister Mehbooba Mufti said in a written reply in the state Assembly. Replying to Congress MLA…

Read More

Amarnath Yatra begins from today, first batch of pilgrims leaves Jammu

Editor

The first batch of 1,138 pilgrims left Jammu on Friday for this year`s Amarnath Yatra that begins from Saturday. State Deputy Chief Minister Nirmal Singh, junior minister Priya Sethi and Lok Sabha member Jugal Kishore flagged off the first batch of pilgrims from Bhagwati Nagar Yatri Niwas in winter capital Jammu at 5 am on Friday. There are 900 males, 225 females and 13 children in the first batch which left in 13 buses, 24 mini-buses and other modes of public and private conveyance in a convoy guarded by the…

Read More

Shops raided in central market for selling fake Kashmiri artefacts

Editor

The government today raided shops at Central Market for allegedly selling counterfeit Kashmiri handicrafts despite having been given shops at a meagre rent of Rs 15 per month at the business hub of Srinagar. “We raided a few shops at Kashmir Haat adjacent to Masjid Bilal on Wednesday over the complaints of sale of counterfeit artefacts,” Deputy Director (Quality Control) of the Handicrafts Department Sumaira Shamim told Kashmir POST. Sumaira said that the inspection team would file a report about the quality of the samples of artefacts picked up from…

Read More

Books & Coffee in Kashmir has a new address

Editor

Locals and tourists have been flocking to a new book shop-cum-cafe in a picture-perfect setting in Indian-administered Kashmir. Ringed by mountains and set on a tiny island in Dal Lake, which is often described as the “jewel of Srinagar”, the bookstore has 80,000 titles on offer, including books on Kashmir’s history, heritage, culture, travel, religion and literature. Although it has only been a few weeks since it opened, Gulshan Books cafe has already had thousands of visitors. There’s a reading room attached to the shop where 1,500 titles are available…

Read More

Kashmiri gives new identity to pashmina in world market

Editor

As power looms pose a threat to the pashmina shawl industry in the Valley, a French and Kashmiri entrepreneur are together trying to revive the industry and give it a new identity. For the first time in 500 years since the shawl industry was commercialised by the Muslim rulers of the Valley, an attempt has been made to create a global brand to sustain not only the shawl artisans but also give a new lease of life to the sector which is on the verge of collapse due to the…

Read More

624 MW Kiru hydel project gets green nod

Editor

The Union Ministry of Environment, Forests and Climate Change has given clearance to the 624-MW Kiru hydroelectric project in the state. The forest clearance for the Rs 4,640.88-crore project has already been accorded by the state government on May 19. The green clearance for the project is a major achievement for the Chenab Valley Power Projects (CVPP) which took it over from the National Hydroelectric Power Corporation (NHPC) in June 2013. Now, within three years, it has obtained all major approvals. The project is likely to be completed in 54…

Read More

Violence hurting JK’s economy : Mehbooba Mufti

Editor

Against the backdrop of terror attack on CRPF bus, Jammu and Kashmir Chief Minister Mehbooba Mufti today said violence is hurting the state’s economic interests, with tourism being the biggest casualty, and sought the support of the people in maintaining peace. “Unfortunately, the state’s tourism and business fraternity has to suffer the brunt when atmosphere of peace is disturbed in the valley by violent incidents,” Ms Mufti said while talking to the members of Parliamentary Standing Committee on Tourism, Transport and Culture in Srinagar. She noted that tourism is directly…

Read More