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Kashmir tourism bears the brunt after tourist massacre and India-Pakistan military strikes

SRINAGAR, India, May 22, 2025 (AP) — There are hardly any tourists in the scenic Himalayan region of Kashmir. Most of the hotels and ornate pinewood houseboats are empty. Resorts in the snowclad mountains have fallen silent. Hundreds of cabs are parked and idle. It’s the fallout of last month’s gun massacre that left 26 people, mostly Hindu tourists, dead in Indian-controlled Kashmir followed by tit-for-tat military strikes by India and Pakistan, bringing the nuclear-armed rivals to the brink of their third war over the region. “There might be some tourist arrivals, but it counts almost negligible. It is almost

Asian shares slip as worries about U.S. debt send Wall Street tumbling

TOKYO, May 22, 2025 (AP) — Asian shares fell Thursday after Wall Street slumped under pressure from the Treasury bond market and worries about surging U.S. debt. U.S. futures were little changed, while Japan’s benchmark Nikkei 225 shed 1.0% in afternoon trading to 36,944.55. Hong Kong’s Hang Seng lost 0.9% to 23,615.21, while the Shanghai Composite edged down 0.1% to 3,383.10. Australia’s S&P/ASX 200 slipped 0.5% to 8,342.80. South Korea’s Kospi dropped 1.1% to 2,595.69. Rising yields for U.S. Treasury bonds are a canary in the coal mine, Stephen Innes of SPI Asset Management said in a commentary. “The U.S.

Booming services fire up India business growth in May despite rising inflation, PMI shows

BENGALURU, May 22 (Reuters) – India’s private sector activity accelerated at its fastest pace in over a year in May, driven by robust expansion in services even as price pressures intensified, a survey showed on Wednesday. HSBC’s Flash India Composite Purchasing Managers’ Index (PMI) compiled by S&P Global, rose to 61.2 this month from April’s 59.7 – the sharpest rate of increase since April 2024 and confounding a Reuters poll median forecast for a dip to 59.5. The 50-mark separates contraction from expansion, and the latest reading showed sustained private sector growth for nearly four years. “India’s flash PMI indicate

Markets tumble in early trade mirroring global sell-off; Sensex tanks over 700 points

Mumbai, May 22 (PTI) Stock market benchmark indices Sensex and Nifty tumbled in early trade on Thursday mirroring weak trends in global equities amid the US fiscal worries along with debt concerns. The 30-share BSE benchmark gauge Sensex tanked 578.3 points to 81,018.33 in early trade. The NSE Nifty declined 203.45 points to 24,610. Later, the BSE benchmark traded 746.48 points lower at 80,832.82, and the Nifty quoted 233.80 points down at 24,575.65. From the Sensex firms, Power Grid, Tech Mahindra, HCL Tech, Nestle, Hindustan Unilever, ITC, Tata Consultancy Services and Mahindra & Mahindra were the biggest laggards. Adani Ports

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