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Oil surges to highest price since 2023, stocks drop after weak update on US job market

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Oil surges to highest price since 2023, stocks drop after weak update on US job market

New York, Mar 7: Oil shot to its highest price since 2023 after surging again Friday because of the Iran war, and a weak update on the US job market knocked stocks lower to cap Wall Street’s worst week since October.

The S&P 500 dropped 1.3 per cent after a report showed US employers cut more jobs last month than they created and after oil prices spiked above USD 90 per barrel. The combination of a weak economy and high inflation is a worst-case scenario for investors because the Federal Reserve has no good tool to fix both problems at the same time.

The Dow Jones Industrial Average plunged as many as 945 points before finishing with a loss of 453, or 0.9 per cent, and the Nasdaq composite sank 1.6 per cent.

“You can’t sugarcoat this report,” according to Brian Jacobsen, chief economic strategist at Annex Wealth Management. “A negative payrolls number combined with a big jump in oil prices will have traders worrying about stagflation risks.”

 

Greater Kashmir

2 specialised courses conclude at S K Police Academy Udhampur

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2 specialised courses conclude at S K Police Academy Udhampur

Udhampur, Mar 7: Two specialised courses on investigation of UAPA cases and cyber-crime cases concluded here Saturday with a grand valedictory ceremony presided over by SSP Benam Tosh Deputy Director S K Police Academy Udhampur.

The course on investigation of cases registered under Unlawful Activities (Prevention) Act was sponsored by Police Headquarters (PHQ) J&K, whereas course on Investigation of Cyber Crime cases was sponsored by Indian Cyber Crime Coordination Centre, MHA, New Delhi.

A total of 42 Police officers including two officers of the rank of ASP and Inspector belonging to Manipur Police and Telangana Police participated in the courses.

The objective of designing the speciality courses was to enhance professional investigating skills of Police officers, to apprehend and get convicted terrorists and cyber criminals as also to bring to justice supporters, sympathisers, aiders, and abettors of terrorists.

Addressing the officers on the occasion, Deputy Director stressed the need for maintaining credibility and objectivity during investigations of UAPA and cyber-crime cases and for conducting in-depth investigations with utmost sincerity so that no anti-national element or cyber-criminal involved directly or indirectly in the commission of crime goes scot free.

He congratulated the officers for undergoing these specialised courses.

The course certificates were presented to the participants by Deputy Director in the presence of Course Directors Vivek Kalsotra and Muhammad Ashraf, where SSP Benam Tosh advised the participants to maintain credibility during investigations so as to secure convictions and win public confidence.

Greater Kashmir

18% fare hike made effective by NC Govt anti-people: BJP J&K Spokesperson

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18% fare hike made effective by NC Govt anti-people: BJP J&K Spokesperson

Srinagar, Mar 7: BJP has strongly criticized the Omar Abdullah-led NC government over the recent 18 percent hike in transport fares, terming the decision as illogical and anti-people.

In a press conference held at the BJP headquarters in Jammu, party leaders said that instead of imposing an additional burden on the common people through a steep fare hike, the government should roll back the increased fuel prices, which would provide relief to transporters and protect citizens from further financial strain. Dr Abhijeet Jasrotia, Spokesperson, J&K BJP, and Yudhvir Sethi, MLA Jammu East, accompanied by Ved Sharma, All Cells Incharge, Ashutosh Mahajan, Convenor Transport Cell, and Roshan Lal and Kamal Preet Singh, Co-Convenors of the Cell, addressed the press conference.

Addressing the media, Dr. Abhijeet Jasrotia said that the fare hike imposed by the Omar Abdullah government is illogical, insensitive and a direct betrayal of the promises made to the people of J&K in the 2024 election manifesto.

Dr. Abhijeet said that instead of providing relief to the public, the government has chosen to burden the already struggling common man, which will have a cascading effect on the prices of essential commodities. He said that once transport fares increase, the cost of goods and daily necessities automatically rises, thereby pushing the common citizen into further economic distress. He pointed out that students, daily wagers, labourers and families with limited and meagre incomes will be the worst affected, as they depend heavily on public transport for their daily needs. He added that this decision will severely hit the household economy and disturb the kitchen budget of ordinary families as pricing of everything will directly shoot up due to the increase in fares, exposing the government’s anti-people mindset.

 

Greater Kashmir

Clash inside prison in J-K’s Rajouri; security strengthened

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Clash inside prison in J-K’s Rajouri; security strengthened

Rajouri, Mar 07: A clash broke out among inmates inside a jail in Jammu and Kashmir’s Rajouri on Saturday following a heated argument between two prisoners, officials said.

The altercation between the two inmates — one from Kashmir and the other from Rajouri — soon escalated, triggering a scuffle among other prisoners, they said.

During the clash, some inmates allegedly pelted stones at prison guards, prompting authorities to intervene and bring the situation under control, the officials said.

They said additional personnel were deployed and security was tightened inside and around the prison premises as a precautionary measure.

Greater Kashmir

SED seeks details of 10+2 contractual lecturers appointed since 2003

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SED seeks details of 10+2 contractual lecturers appointed since 2003

Srinagar, Mar 7: In a latest development, the School Education Department (SED) is seeking details of the contractual 10+2 lecturers for their regularisation as per the Civil Special Provision Act 2010.

In this regard an official communication has been issued to all the Chief Education Officers (CEOs) to furnish the requisite information to the Directorate of School Education Kashmir (DSEK). The details have been sought in connection with the official communication issued by the administrative department in January this year in which the department has sought the details of the contractual 10+2 lecturers appointed in the department in 2003.

“I am directed to refer to your letter number DSEK/estt-I/E-7631927/1522 dated June 10 of 2025 and number DESJ/Gaz/Lect/41925 dated August 2 of 2025 regarding the matter of contractual /academic arrangement lecturer for their regularisation as per the civil special provision Act 2010 or as per the government order number 1301-Edu of 2003 dated July 31 of 2003,” reads an official communication issued by under secretary SED to Director School Education Kashmir and Jammu division.

In the communication, both the directors have been asked to submit the details of the contractual lecturers engaged pursuant to government order number 103-Edu of 2003, in the first instance. In wake of this, all the Chief Education Officers (CEOs) have been asked to furnish the details of all these contractual lecturers.

“Furnish the requisite information at an earliest so as to enable this office to proceed further in this matter,” reads an official communication issued to all CEOs of Kashmir division by DSEK. In wake of this, the principals of their respective higher Secondary Schools have been asked to furnish the details of the contractual lecturers engaged pursuant to the government order number 1301 issued by the education department in 2003.

The communications have been issued between January and February month from Administrative Department to CEO and principals of the higher secondary schools. However, the government is yet to receive the requisite information of the contractual lecturers. Following this, all the CEOs were given a reminder by the DSEK to furnish the details within two days. An official told Greater Kashmir that the CEO offices are collecting the data from the higher secondary schools but most of the schools are yet to furnish the complete data. “The process is still going on,” he said. About the purpose, the official said that the subject of the government communications suggests about the regularisation of those contractual lecturers who worked without any break for several years. “In past, the contractual lecturers were hired against available vacancy and their salary was drawn from the government treasury,” the official said. He said these days SED hires Cluster Resource Coordintors (CRCs) under Samagr scheme which is totally a different process as compared to the engagement of contractual lecturers engaged earlier. “Things will be clear once the details are submitted to the administrative department for further action,” he said.

 

Greater Kashmir

Hope India wins T20 World Cup by comfortable margin: Omar Abdullah

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Hope India wins T20 World Cup by comfortable margin: Omar Abdullah

Jammu, Mar 07: Jammu and Kashmir Chief Minister Omar Abdullah on Saturday expressed hope that India will register a comfortable victory in the T20 World Cup final against New Zealand in Ahmedabad on Sunday to retain the trophy.

“We hope that India will win big (on Sunday). In the semifinal against England, it was a bit of a heart-stopping moment as it was a very close game that India won by seven runs.

“This time we hope it doesn’t get so nerve-racking and that the team wins by a comfortable margin,” Abdullah told reporters on the sidelines of a function here.

India won the 2024 T20 World Cup, defeating South Africa by 7 runs in a thrilling final at the Kensington Oval in Barbados.

The defending champions beat England by seven runs in the semifinal played in Mumbai on Thursday, to set up a summit clash with New Zealand at the Narendra Modi Stadium in Ahmedabad on Sunday.

The Kiwis thrashed South Africa by nine wickets in the first semifinal played in Kolkata on Wednesday.

Greater Kashmir

Div Com Kashmir reviews progress of transit accommodation for migrant employees

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Div Com Kashmir reviews progress of transit accommodation for migrant employees

Srinagar, Mar 07: Divisional Commissioner Kashmir, Anshul Garg, today chaired a meeting to review the progress of construction of transit accommodation for migrant employees across Kashmir division.

The meeting was attended by Deputy Commissioners, Relief & Rehabilitation Commissioner (Migrant), Chief Engineers of KPDCL, Jal Shakti, PWD and other concerned officers.

At the outset, the Relief & Rehabilitation Commissioner gave a detailed presentation on the physical progress of the transit accommodation and the status of allied works. It was informed that out of a total of 6000 flats being constructed at 20 locations across the Valley, 4112 flats have been completed so far, of which 3257 have already been allotted to migrant employees.

During the meeting, the Divisional Commissioner reviewed the status of completion of transit accommodation flats in each district. He also took a detailed review of the availability of essential services including water supply, electricity, drainage facilities and Sewage Treatment Plants (STPs), besides the physical status of other allied works in the accommodation towers.

While reviewing the physical progress of the under-construction towers, the Relief & Rehabilitation Commissioner informed that around 680 additional flats are expected to be completed by the end of April 2026.

The Divisional Commissioner stressed that priority should be given to completing the remaining flats along with all allied infrastructure within the already fixed timelines.

He also asked the concerned Deputy Commissioners to personally visit the project sites along with officials of executing agencies to resolve minor issues that are hindering the completion of works.

The Divisional Commissioner further directed the concerned departments to float tenders for the pending works at the earliest to ensure timely completion of the projects.

Greater Kashmir

Domestic LPG price hiked by Rs 60 per cylinder to Rs 913

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Domestic LPG price hiked by Rs 60 per cylinder to Rs 913

New Delhi, Mar 07: Domestic cooking gas LPG price on Saturday was hiked by a steep Rs 60 per cylinder, the second increase in rate in less than a year, as oil companies pass on a part of the spike in global energy rates that followed the West Asia crisis.

Non-subsidised LPG – the one that common households use in kitchens – will now cost Rs 913 per 14.2-kg cylinder in Delhi as against Rs 853 previously, according to the Indian Oil Corporation (IOC) website.

Ujjwala Yojana beneficiaries – the over 10 crore poor who have got free LPG connection since 2016 – will also have to bear the same amount of price increase. They will now pay Rs 613 per 14.2 kg cylinder after accounting for a subsidy of Rs 300 per bottle they get for up to 12 refills in a year.

The price increase, the website showed, is effective from March 7.

This is the second increase in rate in 11 months. The price was last hiked by Rs 50 in April last year.

Alongside, the price of commercial LPG – the one used by establishments such as hotels and restaurants – was increased by Rs 114.5 per 19-kg cylinder. It now costs Rs 1,883 in Delhi. This increase comes on top of Rs 28 per 19-kg cylinder raise effected on March 1.

Commercial LPG rate has risen by Rs 302.50 this year.

Industry officials said the increase follows a steep rise in global energy prices since the US and Israel attack on Iran last weekend triggered a wider military conflict in the oil and gas-rich Middle East.

The conflict has led to a near halt in tanker movement through the Strait of Hormuz -the narrow but critical sea lane between Iran and Oman used by Middle Eastern producers to export oil and gas to global markets. The disruption has sharply curtailed energy shipments from the region, triggering a spike in global oil and gas prices.

Since the conflict broke out on February 28, US crude soared 35.63 per cent for the biggest weekly gain in the history of the futures contract dating back to 1983. West Texas Intermediate (WTI) futures closed at USD 90.90 per barrel. Brent jumped about 28 per cent for its biggest weekly gain since April 2020, to settle at USD 92.69 per barrel.

Asian spot prices for liquefied natural gas (LNG) have also jumped to around USD 25.40 per million British thermal units (MMBtu) – a three-year high and more than double of last week’s levels of around USD 10 per mmBtu amid fears of supply disruptions and halted exports from Qatar.

LPG markets have also tightened as shipments from key Gulf exporters face logistical disruptions, pushing international propane and butane benchmarks higher and raising concerns over supply availability for major importers such as India.

Despite Saturday’s price increase, cooking gas in India is priced at the lowest when compared with neighbouring countries, industry officials said.

In Mumbai, non-subsidised LPG now costs Rs 912.50, Rs 939 in Kolkata and Rs 928.50 in Chennai, according to the IOC website.

Rates differ from state to state depending on the incidence of local sales tax or VAT.

The Strait of Hormuz is also a critical conduit for India’s energy imports, with roughly half of the crude oil the country buys from overseas transiting through the narrow waterway. In addition, nearly 40 per cent of India’s natural gas imports, largely in the form of LNG from Gulf suppliers like Qatar and the UAE, also pass through the strait.

For LPG, the strait is more important. India consumed 31.3 million tonne of LPG in 2024-25, of which only 12.8 million tonne were produced domestically, with the remainder imported. Of the imported quantity, 85-90 per cent come from countries like Saudi Arabia that rely on the Strait of Hormuz for transit.

The Strait has been effectively blocked following a week-old escalation in the region, after US and Israeli strikes on Iran prompted Tehran to retaliate against US bases in neighbouring countries.

To augment domestic supplies, the government on Friday invoked sparingly used emergency powers to direct oil refineries to ramp up LPG production.

Greater Kashmir

Army holds ‘synergy’ conference with ITBP, BSF at Northern Command headquarters in J&K

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Army holds ‘synergy’ conference with ITBP, BSF at Northern Command headquarters in J&K

Jammu, Mar 07: The Army’s Northern Command in Jammu and Kashmir’s Udhampur district on Saturday hosted a “synergy” conference with the Indo-Tibetan Border Police (ITBP) and the Border Security Force (BSF) to enhance coordination in view of the evolving security landscape, officials said.

The conference, under the leadership of General Officer Commanding-in-Chief, Northern Command Lt Gen Pratik Sharma, focused on sharing insights into the operational construct, aligning strategies and capabilities to surmount emerging security challenges, they said.

“Enhancing synergy for national security – HQ (Headquarter) Northern Command hosted a synergy conference to enhance coordination with ITBP and BSF,” the Northern Command said in a post on X.

“The forum deliberated on the evolving security landscape and focused on sharing insights into the operational construct, aligning strategies and capabilities to surmount emerging security challenges,” it said.

The Army said Lt Gen Sharma interacted with the participants, commending them for their dedicated and resolute approach during operations.

“The delibrations reinforced the spirit of synergy and trust strengthening the collective resolve towards a safer and stronger nation,” it said.

An equipment display was also organised at the venue to showcase emerging technologies inducted by the forces as part of efforts to remain future-ready, it said.

Greater Kashmir

DGP calls for strict action against elements involved in unlawful activities

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DGP calls for strict action against elements involved in unlawful activities

Srinagar, Mar 07: The Director General of Police (DGP) J&K Nalin Prabhat on Saturday chaired a comprehensive review meeting to assess the overall security scenario, counter-terror (CT) operations—both kinetic and non-kinetic—and the law & order situation in Police District Awantipora.

During the meeting, the DGP took a detailed review of the prevailing security situation with special focus on ongoing counter-terror operations, both kinetic and non-kinetic. He also reviewed measures being taken to curb drug abuse and other criminal activities across Police District Awantipora.

The DGP emphasized the need to further intensify the drive against anti-national elements, drugs and crime. He directed officers to take strict and effective action against those involved in such unlawful activities and urged them to remain vigilant, disciplined and proactive in their respective areas of responsibility.

He stressed strong coordination, intelligence-based operations, and proactive policing to maintain peace and stability. The DGP appreciated the efforts of officers and jawans and urged all ranks to remain alert, disciplined, and mission-oriented.

He was accompanied by Special DG Coordination, PHQ J&K, Syed Javid Mujtaba Gillani, Inspector General of Police Kashmir Zone, V.K. Birdi and DIG SKR Javid Iqbal Matoo.

The review meeting was attended by senior officers including SSP Awantipora, Addl. SP Awantipora, all SDPOs, DySP SOGs.

Greater Kashmir

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