Business

AIC–IIIM organises training programme on design, manufacture of leather goods
Business

AIC–IIIM organises training programme on design, manufacture of leather goods

Srinagar, Apr 16: A two-day capacity building cum training programme on the design and manufacture of leather goods was organised at CSIR-Indian Institute of Integrative Medicine at its branch in Srinagar under the Atal Incubation Centre (AIC-IIIM) and CSIR-Integrated Skill Initiative. Dr Zabeer Ahmed, Director, CSIR-IIIM, Jammu who is ex-officio Chairman of AIC-IIIM Bio-Innovation Foundation, inaugurated the programme in which more than 60 participants were provided knowledge and imparted training on the different avenues of income and livelihood generation in the domain of leather technology through production of value-added products. The two-day programme included a practical demonstration for manufacturing leather goods like pouches, sling bags and other range of products. ...
Crewel, chain stitch products to cost more
Business

Crewel, chain stitch products to cost more

Srinagar, Apr 16: The Crewel and Chainstitch Exporters and Manufacturers Association (CCEMA) has announced an increase in Handicraft products of crewel, and chain stitch due to a rise in manufacturing cost. In a statement, CCEMA held a meeting with the Workers Union and after discussing issues for the general welfare of workers artisans and keeping in view the tremendous price hike in essential commodities for the last two years. “A unanimous decision was taken between the manufacturers and exporters association and worked. The artisan wages have been already increased with effect from October 1, 2023. “In this backdrop, the manufacturing cost of the Crewel and Chainstitch hand embroidered products has been increased upto 10 percent. All the esteemed buyers in the Internation...
J&K Bank appoints Fayaz Ganai as CFO
Business

J&K Bank appoints Fayaz Ganai as CFO

Srinagar, Apr 16: Jammu & Kashmir Bank, a major private sector lender, announced the appointment of Fayaz Ahmad Ganai as its Chief Financial Officer (CFO) for a three-year term, effective from April 16, 2024. The bank informed the stock exchanges about Ganai’s appointment in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ganai, a qualified chartered accountant, brings with him over 15 years of experience in large corporate and financial institutions, including five years in senior management roles. His expertise spans finance, corporate and retail credit, accountancy, balance sheet management, and taxation (income tax/GST, etc.). The appointment comes as Jammu & Kashmir Bank reported a 35.13% year-on-year increase in its ...
Kashmir’s Business Community Mourns Jhelum Boat Tragedy
Business

Kashmir’s Business Community Mourns Jhelum Boat Tragedy

Srinagar, Apr 16: Kashmir’s business community has expressed deep sorrow over the loss of life in the boat capsizing tragedy at the Batwara – Gandbal River Jhelum crossing on Wednesday. The devastating incident claimed six precious lives, including school children, leaving the entire Valley in a pall of gloom. KCCI The Kashmir Chamber of Commerce and Industry (KCCI) issued a statement mourning the catastrophic loss of lives. “We extend our heartfelt condolences to the bereaved families who have lost their loved ones, including innocent young students, in this unspeakable tragedy,” said the KCCI spokesperson. KCCI believes that this tragic incident could have been averted had the concerned authorities shown sensitivity to the situation that existed at the spot and many other d...
TECHM, ACC: Potential Intraday buying opportunities amid market downturn
Business

TECHM, ACC: Potential Intraday buying opportunities amid market downturn

Srinagar, Apr 16: As the stock market extends losses for the third consecutive day, there may be potential buying opportunities in two stocks – TECHMM and ACC. Technical analysis suggests that in ACC if the price sustains above Rs 2,450, it has the potential to move upwards. Similarly, for TECHM, the stock opened with a gap down, but it has the potential to consolidate and move up. Intraday buying can be initiated if the price consolidates above Rs 1,215. The Sensex and the Nifty extended their fall for the third straight day as traders assess the market impact of the worsening situation in West Asia. Rising US treasury bond yields, which shot to a five-month high, also weighed on investors’ risk appetite. Analysts advise investors to adopt caution and wait and watch how the...
Indian stock market closes in red amid the ongoing tensions in Middle East
Business

Indian stock market closes in red amid the ongoing tensions in Middle East

Mumbai, Apr 15: Amid the ongoing tensions in west Asia, the Indian market closed with a decline on Monday. The Nifty 50 concluded with a 1.07% decline at 22,277.85, while the BSE Sensex closed with a 1.16% decline at 73,300.78 In the Nifty 50 top gainers included ONGC, Hindalco, Maruti Suzuki, Nestle India, and Britannia, while notable losers were Shriram Finance, Bajaj Finserv, Wipro, ICICI Bank, and Eicher Motors. Except the oil & gas sector, all other sectoral indices closed in negative territory on Monday. The Bank and Financial Services sectors saw significant declines of 1.65% and 1.75%, respectively. Other heavyweight indices such as IT (-1.59%), Healthcare (-1.36%), and Consumer Durables (-1.30%) also faced notable losses. The broader market mirrored the trend, wi...
AGS Uri participates in MoE’s boot camp
Business

AGS Uri participates in MoE’s boot camp

Baramulla, Apr 15: The teachers and the students of the Innovation Club at Army Goodwill School (AGS) Uri participated in a two-day Innovation, design and entrepreneurship boot camp organised by the Innovation Cell of Ministry of Educations (MoE). The event was held at SSM College of Engineering in Baramulla. As per the handout issued here, the inaugural function was attended by the innovation officer of MoE’s innovation cell Pooja Rawat. Renowned speakers, design experts and incubation heads of national level conducted technical training sessions during the boot camp. The initiative is geared towards training the student innovators, teachers and principals from both PM Shri and non PM Shri schools across India at 18 centres in 14 states and UTs. “During this two-day boot ca...
Rising global risks could delay RBI rate cuts: Analysts
Business

Rising global risks could delay RBI rate cuts: Analysts

New Delhi, Apr 15: Rising global risks, including the rise in crude oil prices, may delay RBI’s rate cuts, analysts said. “While we maintain our call for a 50 bps rate cut starting in 3QFY25, we note increasing risks of further delays to the RBI’s rate cuts from rising crude oil prices, a further push-back to the timing of the US Fed’s rate easing cycle and volatile food inflation,” Kotak Institutional Equities said. “In the near term, we see upside risks to our 1QFY25 average inflation of 5 per cent from the high temperatures causing volatile food inflation, geopolitical risks and ongoing OPEC plus supply cuts pushing up crude oil prices and higher non-energy commodity prices. These risks could continue to pose a challenge to the last mile disinflation, as noted by the RBI Go...
Banks must provide simple key facts statement to borrowers on terms of loans: RBI
Business

Banks must provide simple key facts statement to borrowers on terms of loans: RBI

Mumbai, Apr 15: The RBI on Monday directed all banks and housing finance companies to provide ‘key fact statements’ (KFS) in simple terms to the prospective borrowers on the loans and interest that they are expected to pay to ensure transparency and help them make informed decisions. All regulated entities, such as banks and housing finance companies, will have to provide a KFS to all the prospective borrowers before executing the loan contract, as per the standardised format given by the RBI, the directive stated. “The KFS shall be written in a language understood by such borrowers. The contents of KFS shall be explained to the borrower and an acknowledgment shall be obtained that he/she has understood the same,” the RBI said. Further, the KFS shall be provided with a unique...
‘Sericulture Deptt committed to boost entrepreneurship in J&K’
Business

‘Sericulture Deptt committed to boost entrepreneurship in J&K’

Srinagar, Apr 15: In a bid to encourage local entrepreneurs and revive the sericulture industry in Jammu and Kashmir, Ajaz Ahmad Bhat, Director Sericulture J&K, visited a private silk reeling unit, M/S Bombyx Mori Silk & Textiles, located at the Sidco Industrial Complex in Khanmoh, Srinagar. During the visit, the Director Sericulture interacted with the management and workers of the silk reeling unit, gaining insights into their operations. He was informed about the unit’s utilization of 1.50 lakh Kgs of green cocoons to reel 11,000 Kgs of Silk Yarn and manufacture 2.00 lac meters of Silk Cloth. Impressed by the entrepreneurial spirit and the unit’s contribution to employment generation and economic growth, Mr. Bhat commended the establishment and underscored the impor...