Modi-Deuba hold bilateral talks in Lumbini

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Kathmandu, May 16 | Nepal Prime Minister Sher Bahadur Deuba and his Indian Prime Minister Narendra Modi held bilateral talks in Lumbini, where the latter is on a day-long visit to mark the occasion of Buddha Purnima.

During the meeting, the two Prime Ministers recalled their fruitful discussions during the Deuba’s official visit to India on April 1-3, according to the Ministry of Foreign Affairs in Kathmandu.

The two Prime Ministers also discussed a broad overview of Nepal-India cooperation and matters of mutual interests with a view to further enhancing the close and cordial ties between the two countries.

The two sides also agreed in principle to establish the sister city relations between Lumbini and Kushinagar and the necessary process will be taken in due course through appropriate local authorities, the Ministry added.

After the talks, six Memorandum of Understandings were signed between the two sides.

Earlier in the day, Modi and Deuba jointly laid the foundation of the India International Centre for Buddhist Culture and Heritage in Lumbini, the birthplace of Gautam Buddha.

Shortly after his arrival, the Indian leader offered prayers at the famous Maya Devi temple.

Modi is also scheduled to address a Buddha Jayanti event organised by the Lumbini Development Trust.

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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