Category: Business

Business

Tourist arrivals in Kashmir this year below expectations : CM

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Jammu and Kashmir Chief Minister Mufti Mohammad Sayeed today said tourist arrivals to the state this year have been below expectations and called upon the national media to change the negative perception which has plagued the state. “Tourist arrivals this year have been below expectations. Tourism has to brace up for bigger challenges ahead. I seek cooperation from the national media in changing the negative perception which has plagued Kashmir for quite some time,” Sayeed said after the stone-laying ceremony to launch Hotel Nedou’s in a new avatar of ITC…

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Markets abuzz with shoppers ahead of Eid-ul-Adha

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Shoppers thronged city markets ahead of the Eid-ul-Adha festival, which will be celebrated later this week. Sale of sacrificial animals and merchandise has gone up as the festival is coming closer. The city’s markets are witnessing an increased rush as shoppers are flocking to buy merchandise ahead of the Eid-ul-Adha. Sheep and goat sale points, which have sprouted across the city, are also attracting huge crowds. A major market for the sale of sacrificial animals has come up at Eid Gah in the old city where hundreds of sheep and…

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Punjabi pickles tickle taste buds of Kashmiris

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Homemade Punjabi pickles have turned out to be a treat for Kashmiris at the 10th Regional Saras Exhibition being held at Kashmir Haat in Srinagar. Like Punjabis, Kashmiris are food lovers. Amar Singh (55) of Khudi Kalan village in Barnala, who has a stall of pickles at the exhibition, is more than happy with the response. “Like pickles are being loved in Punjab, Kashmiris seem equally excited. The smell of pickles catches attention of visitors,” he says. For people like Amar Singh, opportunities like selling their homemade products in different…

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State wants trains to run during Eid

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A couple of days after the Railways decided to suspend operations for two days, fearing damage to the trains during the upcoming Eid festivity, Jammu and Kashmir has decided to take up the matter with the department. “We will surely take up the issue with the Railways so that train services remain operational during Eid,” Chief Secretary BR Sharma told . The decision to suspend train service in the Valley on September 26 and 27 on the occasion of Eid-ul-Azha was taken by the Railways after a meeting with the…

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Valley’s first multi-level parking lot by June 2016

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Residents of the Valley will get some relief from congestion and traffic jams by June next year as the commercial hub of Lal Chowk will get its first multi-parking facility. The parking facility is being constructed by Economic Reconstruction Agency (ERA) at a cost of Rs 26.75 crore. This will be the first-of-its-kind multi-storeyed mechanised parking facility in the state which is being constructed at the Kashmir Motor Drivers Association (KMDA) bus stand. The project, which received much hype from the former government, missed its first deadline on February 23,…

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Beef and meat bans cast shadow over Eid-ul-Azha

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With hundreds of families across the country preparing Eid-ul-Azha in the last week of September, the ban on sale of meat, including beef, has come as a huge setback for the traders who were expecting a good business during the festive season. Akbar Qureshi, a meat trader in the Mankhurd area of Mumbai, is a worried man since the ban on beef came into force in Maharashtra in March this year under the Maharashtra Animal Preservation (Amendment) Act, 1995. Since then, he has been able to sell very little buffalo…

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Banks not lending enough in J&K: Drabu

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‘ARC to purchase bad loans to encourage banks increase advances’  Finance Minister, Dr Haseeb Drabu today said that Jammu and Kashmir State Financial Corporation (J&KSFC) shall be turned into an Asset Reconstruction Company (ARC) that can purchase bad loans from various financial institutions operating in the state. Dr. Drabu, who was speaking at the 55th Annual General meeting of shareholders of J&KSFC, said that the move will go a long way in improving credit flow into the state. “There are around 45 banks and financial institutions and majority of them…

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Minister calls for e-commerce to promote handicraft sales

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Chander Prakash, Minister for Industries and Commerce and JKHC Chairman, visited the Kashmir Government Arts Emporium and took stock of its functioning here today. He inspected various handicraft items displayed for sale at its showroom, including silk carpets, pashmina and woollen shawls, readymade garments, silk saris, chain stitch rugs, ‘numdas’, paper machie, leather goods, metal machie, walnut wood, furniture items and jewellery items. Impressed with the quality and design of the products, the minister appreciated the craft and work of the local artisans. The minister stressed upon officials concerned to…

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Despite High Court order, sale of beef continues

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Two dozen eateries on Food Street continue to serve beef dishes Even as the J&K Government has shifted one of its senior attorney’s for failing to defend it in the “beef ban case”, the effect of the ban is no where visible on streets of Srinagar where sale of beef dishes continues unabated. Nearly two dozen food joints on the Food Street, just opposite the famous Ghanta Ghar in the Lal Chowk area, continue to serve beef dishes to customers, ranging from poor to middle class, rural to urban and…

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No policy for economic recovery, rue experts

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With a comprehensive financial package for Jammu and Kashmir yet to take practical shape, the Centre and the state government have come under attack from economists and the business community for not formulating a concrete policy and planning the state’s economic recovery after the devastating floods a year ago. They believe that both the governments have failed “to capitalise a big opportunity” to bridge the gap between the ruling class and the public in the aftermath of the devastating floods. “The state and the Centre have failed to capitalise the…

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