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The ongoing unrest in Kashmir has led to a whopping Rs 6,400-crore loss to the economy of the Valley, with businesses being badly hit due to curfew and separatist sponsored strikes.Tourist and other business activities in Kashmir have come to a halt for the past 49 days after protests erupted in Kashmir following the killing of Hizbul Mujahideen commander Burhan Wani in an encounter with security forces in south Kashmir's Anantnag district on July 8.Clashes between protesters and security forces have claimed the lives of 66 people and left thousands of others injured.Close Shops, business establishments, private offices and petrol pumps have been shut as the separatists groups have called for a complete strike to protest the civilian deaths in the violence after Wani's killing. related news Congress trying to regain lost ground in Ladakh through divisive politics: BJP Himachal Pradesh fiscal deficit at Rs 3,870cr in FY18: CAG Shiv Sena warns of states vs Centre confrontation … [Read more...] about Kashmir’s economy suffers body blow, Rs 6400 cr loss in 49 days

Curfew and widespread clashes that left two youths dead today dampened Eid festivities in the Kashmir Valley, which has been witnessing continued protests for last 65 days claiming lives of 78 people.While curfew was imposed in all the 10 districts of the Valley, 55 incidents of clashes were reported during the day between angry mobs and security forces in which several protesters and police personnel were injured.Soon after Eid prayers ended in Bandipora, a group of protesters started hurling stones at security forces who retaliated by firing tear smoke shells.Close "The police used some tear smoke munition in which one person identified as Murtaza Ahmad, a resident of Dachigam, Bandipora got injured. He was shifted to hospital where he succumbed to his injuries," a police spokesman said. related news Indian delegation leaves for Australia for consumer protection project CAB will shred India's soul, time to rise to save country and its democracy: Sonia Gandhi Citizenship … [Read more...] about Subdued Eid in Kashmir as clashes claim two more lives

Gaurav KapurThe global economy lost steam in 2018 after a synchronized recovery in 2017 and a sluggish growth phase during 2012-16, leading to a broad-based slowdown in the first half of 2019. With escalation in US-China trade tension and growing economic policy uncertainty as a result, global trade, exports, manufacturing and investment activity have been severely impacted.According to International Monetary Fund (IMF) estimates, trade volume growth in the first half of 2019 came in at 1 percent -- the weakest since 2012 -- as the tariff war intensified, disrupting globally integrated supply chains centred around the Chinese manufacturing sector.Close Going by data of the Peterson Institute on International Economics, average US tariff on Chinese imports has increased to above 26 percent compared to an average 3 percent at the beginning of the trade war. Similarly, China’s average tariff on US exports have gone up to 21.8 percent from the earlier 8 percent. … [Read more...] about In Detail | Global clouds are thickening around India’s own challenges