Nepal, India sign 6 MoUs during Modi’s Lumbini visit

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Kathmandu, May 16 | Nepal and India signed six Memorandum of Understandings on Monday during the day-long visit of Indian Prime Minister Narendra Modi to Lumbini, the birthplace of Gautam Buddh.

The Ministry of Foreign Affairs in Kathmandu announced the singing of the pacts after bilateral talks between Modi and his Nepali counterpart, Sher Bahadur Deuba.

The two Prime Ministers recalled their fruitful discussions during the Deuba’s official visit to India on April 1-3, the Ministry said.

During Monday’s talks, the two Prime Ministers had 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.

The necessary process will be taken in due course through appropriate local authorities, the Ministry added.

After the meeting, Deuba hosted a luncheon in honour of the Indian delegation.

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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