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India’s surgical strikes on terror hubs in Pakistan Occupied Kashmir (PoK) region have hurt the business community in Pakistan and feel it will damage the trade ties between the two nuclear-armed nations. 
 
The Pakistani business community was expecting normalised relations with India, who now say they are disappointed. 
 
"Today, we feel it was our mistake to think that there can be good business ties with India. We are dismayed and disappointed by PM Narendra Modi's aggressive policies,” Mian Abrar Ahmed, ex-president of the Karachi Chamber of Commerce and Industry, told ET. 
 
"Even though Pakistan has not given MFN status to India, if you look at bilateral trade, it's about $2 b annually and 80% is in India's favour. Pakistani businessmen still face a lot of barriers when they export to India,” Amin Hashwani, chief executive at the Hashwani Group, told ET. 
 
This comes at a time when India is mulling over revoking the most favoured nation (MFN) status given to Pakistan about 20 years ago. 
 
As per a Peterson Institute for International Economics gravity model study, the trade between India and Pakistan could increase to $42 billion if certain roadblocks were removed, especially the unstable political ties. 
 
"We are neighbours and we should resolve the situation with negotiations. War is never a solution. There may be many difference of opinion, but I think business and art should not be kept separate and civil society and establishment must not target these,” said Dawood Usman Jakhura, director of the Federation of Pakistan Chambers of Commerce &amp; Industry (FPCCI) Pakistan- Malaysia Business Council.

Pakistan business community ‘disappointed’ over India’s surgical strikes on terror hubs in Pakistan

The Indian Army said it carried out surgical strikes in Pakistan and destroyed seven terror hubs across the Line of Control (LOC), just two kilometres across the de-facto border. 
 
Pakistan defence minister Khawaja Asif said two Pakistan soldiers were killed and nine were injured. There was no casualty report from the Indian side. 
 
During a news briefing, Indian Army's Director General of Military Operations (DGMO), Lt General Ranbir Singh said the surgical strikes on the terror camps were based on “very specific and credible information that some terrorist units had positioned themselves to infiltrate". 
 
Here's what happened: 
 
- The surgical strikes were carried out just two kilometres across the LOC. 
 
- The Indian forces were paradropped and the operations went on for four hours between 12.30 am and 4.30 am.&#xa0; 
 
- DGMO&#xa0;Lt Gen Singh said he spoke with his Pakistani counterpart and shared the concerns with him.&#xa0;“We told him that we conducted surgical strikes last night,” said the DGMO. 
 
- Pakistan Prime Minister Nawaz Sharif said India should not take its peaceful intent as weakness and condemned the surgical strike. 
 
- The surgical strikes were carried out on September 28, but the Pakistani media has denied the same, saying India was fabricating the truth. 
 
- Pakistan’s s ISPR said, “Notion of surgical strike linked to alleged terrorists bases is illusion deliberately generated by India to create false effects. This was not a surgical strike, we are alert for any eventuality. Pakistan has made it clear that if there is a surgical strike on Pakistani soil, same will be strongly responded.” 
 
- India maintained despite Pakistan’s commitment not to allow its territory for terrorism, there was no action on it.&#xa0;“This is reflected in the terror attacks in Poonch and Uri on the 11th and the 18th September, respectively,” said Lt Gen Singh. 
 
- Meanwhile, the Indian government has called for an all-party meet. Dr Nirmal Singh, Deputy Chief Minister of Jammu and Kashmir, said, “Pakistan was behaving like a terrorist state; befitting reply was needed. These strikes boosted the morale of our army.” 
 
- Following the news, the Indian financial markets tanked beyond 500 points. 
 
- Sensex lost over 500 points and ICICI Bank, Adani Ports, Axis Bank , Sun Pharma and GAIL are the top Sensex losers. India VIX spikes 17.09%.&#xa0;Nifty50 slipped below 8,700 level. 
 
-Villages in Punjab, which are 10 kilometres from International Border with Pakistan, are being evacuated as additional BSF troops are moving in. 
 
- Baloch Leader says Mazdak Dilshad Baloch says, “We support such strikes and want Indian Army to conduct surgical strikes in Balochistan as well.”

India carries out surgical strikes on terror launch pads in Pakistan. Here’s how it happened

Banking services across the country are likely to be partially disrupted on October 22 as two bank unions will go on a 24-hour strike on the day. The strike has been called by All India Bank Employees' Association (AIBEA) and the Bank Employees Federation of India (BEFI) to protest against recent bank mergers, falling deposit rates and issues of job security. The Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> and <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> will, however, not participate in the strike, sources in them said. Regional Rural Banks and cooperatives banks will also not participate in the strike as mergers do not affect them, sources said. Striking unions said they will shut the ATMs as these will be under the strike ambit.Bank of Maharashtra, Syndicate Bank, Bank of Baroda have expressed concern over their providing normal customer services. "We expect good response from all PSU and private banks," Bank Employees Federation of India (State Federation) General Secretary Joydeb Dasgupta said. SBI has claimed the impact of the strike on its operations will be minimum as most of its employees are not members of the participating unions. A SBI union leader said they are not participating in the strike and services will be normal. Dasgupta said SBI employees have offered moral support to the strike he said adding "It would have been good if SBI joined the strike".AIBEA and BEFI also oppose outsourcing of regular and perennial banking jobs and privatisation of banking industry, sources in them said. They have demanded adequate recruitment of clerical and sub-staff and urged for stringent steps for recovery of mounting bad loans, the sources added.

Banking services will be disrupted as two unions declare a strike tomorrow

New Delhi, Jan 8 () Thousands of workers at state-owned steel plants boycotted work while some remained absent in protest against the government policies, according to SWFI, the apex body of steel workers in India.
 However, operations remained unaffected at the plants.
 The impact of strike was minimal on Coal India too.
 The protest was against privatisation of public sector companies, change in labour laws, low wages for contactual workers and other issues, Steel Workers Federation of India (SWFI) Working President P K Das told over phone.
 "The strike was observed at some plants. Some boycotted work and some remained absent," he said.
 A SAIL official said production remained unaffected as workers in the night shift stayed back at the plants resulting in 100 per cent attendance in the 6 AM to 2 PM shift.
 Steel Authority of India Ltd (SAIL) has about 70,000 employees. It has five integrated steel plants namely Bhilai Steel Plant in Chhattisgarh, Rourkela Steel Plant in Odisha, Bokaro Steel Plant in Jharkhand and Durgapur Steel Plant and IISCO Steel Plant in West Bengal.
 Besides, it has three special steel units in Karnataka, Tamil Nadu and West Bengal and a ferro alloy plant in Maharashtra.
 An official of another steel PSU Rashtriya Ispat Nigam (RINL) said while all executives came to work, 80 per cent workers boycotted work.
 There are about 18,000 employees in RINL, out of which about 6,000 are executives, the RINL official said.
 According to a Coal India official, there was 89 per cent attendance (as of 2 pm ) at all the subsidiaries of the coal major.
 Coal India accounts for over 80 per cent of the domestic coal output.
 According to an official of CCL--a Coal India arm--all its 34 open cast and seven underground mines were operational. ABI SID ABI ANU
ANU

Strike impact minimal at SAIL, RINL, Coal India

<div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://images.newscred.com/e27ef3bc8a69da1d031bbadf271f3801?width=700&amp;height=393">Dibyangshu Sarkar/AFP </a></div><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s public-sector banks and many government offices were shut Thursday on the second day of a general strike called to protest against the government's planned pro-market reforms.
Eleven unions called the strike in protest at the measures which they condemn as "anti-poor" and likely to cost jobs and raise prices.
While the impact of the stoppage was patchy and felt mainly in heavily unionised state institutions, analysts said it underscored discontent among workers.
"The government must sit down with the workers and hear them out because it cannot afford to ignore this class any more with general elections due in 2014," Shubha Singh, a New Delhi-based political analyst and writer, told AFP.
The reforms include opening the retail, insurance and aviation sectors wider to foreign investment in a bid to spur a sharply slowing economy.
They also involve raising prices of subsidised diesel and reducing the number of discounted cooking gas cylinders to reduce a ballooning fiscal deficit.
Leaders of two main leftist parties said they were boycotting the opening session of parliament on Thursday in solidarity with the strikers.
The government is already under pressure over an economy growing at its weakest pace in a decade and widespread allegations of corruption.
The Associated Chambers of Commerce and Industry has estimated losses from the two-day stoppage at more than 200 billion rupees ($3.7 billion).
Attendance at government offices was thin and many education institutes were closed as teachers' unions joined the strike. Universities cancelled exams set for Thursday.
Operations at India's state-run banks were also halted.
Top carmaker Maruti, which has a history of labour unrest, declared a holiday to avert trouble while two-wheeler manufacturer Hero MotorCorp gave workers a day off.
The All India Trade Union Congress said millions of workers were taking part in the strike and called on them to keep up pressure on the government, already facing a hostile opposition in parliament.
But most privately-run factories reported normal operations and financial markets were open in Mumbai.
Police said dozens of people were arrested after protests turned ugly in an industrial hub near New Delhi on Wednesday when a mob threw stones, vandalised factories and set several vehicles on fire to enforce the strike.
<div class="nc_footer">
Copyright (2013) AFP. All rights reserved.
</div>

Strikes Have Paralyzed India's Banks And Government Offices

&#xa0; 
 The Indian financial markets reacted after <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> said it conducted surgical strikes on Pakistan terror hubs. The <keyword id="6484188" type="CITY" weightage="20" keywordseo="Sensex">Sensex</keyword> tanked beyond 500 points. 
 
Sensex lost over 500 points and ICICI Bank, Adani Ports,<a href="http://www.businessinsider.in/searchresult.cms?query=+Axis+Bank&amp;sortorder=effectivedate"> Axis Bank</a>, Sun Pharma and <a href="http://www.businessinsider.in/searchresult.cms?query=GAIL&amp;sortorder=effectivedate">GAIL</a> are the top Sensex losers. India VIX spikes 17.09%. 
 
Nifty50 slipped below 8,700 level. 
 
Meanwhile, the <a href="http://www.businessinsider.in/searchresult.cms?query=Director+General+of+Military+Operation&amp;sortorder=effectivedate">Director General of Military Operation</a>, in a news conference, said the Indian army conducted the anti-terror operations on September 28 night to prevent infiltration. 
 The <keyword id="894959" type="UNKNOWN" weightage="20" keywordseo="DGMO">DGMO</keyword> said the surgical strikes were based on specific intelligence input of terror groups ready to infiltrate into India and carry out terror attacks. 
 
"Significant casualties have been caused in these strikes," DGMO <a href="http://www.businessinsider.in/searchresult.cms?query=Lt+General+Ranbir+Singh+&amp;sortorder=effectivedate">Lt General Ranbir Singh </a>said adding, "The operation has now ended." 
(image:&#xa0;thinkstock)

Markets tank over 500 points as India strikes Pakistan terror launchpads

<ul><li><keyword id="691827" type="POSITION" weightage="20" keywordseo="Foreign-Secretary-of-India">Foreign Secretary of India</keyword> VK Gokhale makes the first official statement from India after the air strikes across the Line of Control</li><li>India calls the strike by the Air Force as 'pre-emptive, non-military' attack on terror camps</li><li>The attack by <keyword id="15141" type="COMPANY" weightage="20" keywordseo="Indian-Air-Force">Indian Air Force</keyword> has come days after a terror attack by Jaish-e-Mohammad operatives killed 40 Indian security personnel in Kashmir</li></ul> India's first official statement on the air attack across the Line of Control has come from the country's Foreign Secretary VK Gokhale. "Credible intel was received that JeM was planning more suicide attacks in India. In the face of imminent danger, a preemptive strike became absolutely necessary," Gokhale said in the first government address after the Indian air strike on Pakistan-occupied-Kashmir. Top commanders were eliminated in the strike, he added. Indian Air Force fighter jets dropped 1,000 kilos of bombs across the Line of Control with <keyword id="3001" type="COUNTRY" weightage="20" keywordseo="Pakistan">Pakistan</keyword> before returning, said several media reports suggested earlier in the day. He also called the attack 'non-military' and that it was targeted specifically at Jaish-e-Mohammad terror camps. "We avoided civilian casualties with the selection of the camp, which is located deep inside forests, Gokhale said. Gokhale's statement mentioned the attack by terrorists in Pulwama, Kashmir on February 14 that killed over 40 Indian troopers. However, he did not clearly say that this attack from the Indian side was retaliatory. Gokhale refused to take any questions from the journalists present at the briefing. India responded to a similar attack by Pakistan-based terrorists in 2016 with the surgical strikes by the army. At that time, the first briefing was addressed by the army chief. However, India has a struck diplomatic tone by letting the top foreign ministry official take the stage. SEE ALSO: <a href="https://www.businessinsider.in/indian-air-force-drops-payload-across-the-line-of-control/articleshow/68163111.cms" data-type="tilCustomLink" target="_blank">Indian fighter jets drop a ton of bombs across the Line of Control</a> <a href="https://www.businessinsider.in/water-wars-india-decides-to-stop-indus-water-supply-to-pakistan/articleshow/68099006.cms">Water wars: India decides to stop Indus water supply to Pakistan</a> <a href="https://www.businessinsider.in/india-pushing-for-pakistan-inclusion-on-fatfs-terror-financing-blacklist/articleshow/68108197.cms">Despite Indian efforts, Pakistan avoids being blacklisted for terror financing</a>

It was a 'pre-emptive, non-military' attack on 'terror camps', India says

New Delhi, Jan 24 () The country's largest lender SBI on Friday said its operations may be impacted to some extent due the proposed two-day nationwide strike beginning January 31.
 The bank has however made all arrangements to ensure normal functioning in its branches and offices, the State Bank of India (SBI) said in a filing to the BSE.
 "While Bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in our Bank may be impacted to some extent by the strike," the filing said.
Bank unions have called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the Indian Banks' Association (IBA).
"We have been advised by IBA that United Forum of Bank Unions (UFBU) which constitutes 9 major unions...has given a call for an all India strike by Bank employees on 31st January and 1st February, 2020," the filing said. 
 The UFBU constitutes All India Bank Employees' Association, All India Bank Officers' Confederation, National Confederation of Bank Employees, All India Bank Officers' Association, Bank Employees Federation of India, Indian National Bank Employees Federation, Indian National Bank Officers' Congress, National Organisation Of Bank Workers and National Organisation of Bank Officers. SID SID ANU
ANU

Operations may be impacted due to bank unions' two-day strike: SBI

New Delhi, Jan 7 () Banking services at public sector banks are likely to be hit on Wednesday due to a nationwide strike called by 10 central trade unions.
Most of the lenders have already informed stock exchanges about the January 8 strike and its impact on banking services.
Various bank employee associations, including AIBEA, All India Bank Officers' Association (AIBOA), BEFI, INBEF, INBOC and Bank Karmachari Sena Mahasangh (BKSM), have expressed their willingness to participate in the strike.
Banking services like deposit and withdrawal, cheque clearing and instrument issuance are expected to be impacted due to the strike.
However, services at private sector banks are unlikely to be impacted.
Nearly 25 crore people are likely to take part in an all-India strike on Wednesday to protest against the government's "anti-people" policies. 
 Trade unions INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF, UTUC along with various sectoral independent federations and associations had adopted a declaration in September last to go on a nationwide strike on January 8, 2020.
"The Ministry of Labour has failed to assure on any of the demands of workers which called a meeting on January 2, 2020. The attitude of the government is that of contempt towards labour as we construe from its policies and actions," the 10 CTUs said in a joint statement.
"We expect participation of not less than 25 crore of working people in the forthcoming National General Strike on January 8, 2020, to be followed by many more actions seeking reversal of the anti-worker, anti-people, anti-national policies of the Government," it said. DP ANU

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