Azerbaijan, Armenia ready for border delimitation

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Baku, May 24 | Azerbaijan President Ilham Aliyev has signed a decree to establish the country’s state commission for the delimitation of border with Armenia.

Published on the president’s official website, the decree says that the commission is chaired by Deputy Prime Minister Shahin Mustafayev, reports Xinhua news agency.

It includes senior officials of 22 agencies, including Deputy Prime Minister of the Nakhchivan Autonomous Republic, several deputy ministers and deputy chiefs of state services, heads of several local executive authorities, and a department head at the Presidential Administration.

Meanwhile, in a similar move, Armenian Prime Minister Nikol Pashinyan on Monday signed a decree on the establishment of a commission on border demarcation and border security between Armenia and Azerbaijan, which is chaired by Deputy Prime Minister Mher Grigoryan.

The establishment of the commissions by the two rival countries came a day after President of the European Council Charles Michel hosted Aliyev and Pashinyan for a third trilateral meeting in Brussels since last December.

In a press statement following the meeting, Michel announced that the two countries had agreed to initiate the border delimitation process with the establishment of border commissions.

Armenia and Azerbaijan have been at loggerheads over the mountainous region of Nagorno-Karabakh since 1988.

Peace talks have been held since 1994, when a ceasefire was agreed, but there have been sporadic minor clashes since then.

A new round of armed conflict broke out along the contact line on September 27, 2020, before Russia brokered a ceasefire on November 9, 2020.

On November 26, 2021, Aliyev and Pashinyan met with Russian President Vladimir Putin in Sochi, Russia, where they agreed on creating mechanisms for demarcation and delimitation of the border between Armenia and Azerbaijan.

During their previous meeting in April, Aliyev and Pashinyan launched a peace treaty process mediated by the European Union, and they agreed to establish border commissions to work on the border delimitation issue.

Source: IANS

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Weekly Fundamental Market Outlook

Weekly Fundamental Market Outlook

Indian share market posted its first weekly gain in Jun by rising 2.7%.

This week, the Indian Stock Market rebounded strongly and ended with first weekly gain of 2.7% in June as a drop in commodity prices offered some relief from broadening inflationary pressures. Copper prices, which are often seen as a bellwether for economic output due to their wide range of industrial and construction uses, are heading for their worst week in a year, while oil prices have dropped over concerns of slumping demand.

While the US recessionary fears are still at the forefront, but the slide in commodity prices has lifted the mood of stock market.Cheaper oil is usually beneficial for oil-importing countries such as India.

Domestically, on sectorial basis, Auto and FMCG are the top gainers, while Metal index is the top losers. On stock basis, Hero MotoCorp, Eicher Motors, Hindustan Unilever, Maruti Suzuki and M&M were the top gainers and Tata steel, UPL, Reliance Industries, hindalco Inds and Coal India were the top losers.

In the next week, investors will keep a close eye on crude oil price movement, commodity prices, US economic activity and the geopolitical development.

 

Post Disclaimer by BhaskarLive.in

The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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