PM to meet Sharif, have summit with Obama in US

September 25, 2013
New Delhi, Sep 25: Prime Minister Manmohan Singh Wednesday said he will be meeting his Pakistan counterpart Nawaz Sharif in New York on the sidelines of the UN General Assembly (UNGA), setting at rest all speculations about the meeting. Before that he meets President Barack Obama on Sep 27 in Washington. Indo_Pak

In his departure statement before embarking on a five-day visit to the US, Prime Minister Singh said his summit meeting with President Obama would be an opportunity to review bilateral cooperation and chart a course for future cooperation.

The much-anticipated Manmohan-Sharif meeting is expected to be over breakfast on Sep 29 on the sidelines of the UNGA. The Pakistan prime minister is already in New York. The Indian leader will also have an important meeting with Bangladesh Prime Minister Sheikh Hasina to share views and iron out issues between the two neighbours.

"During my visit to New York, I also look forward to bilateral meetings with the leaders of some of our neighbouring countries, including Bangladesh, Nepal and Pakistan," the prime minister said in his statement.

This is the first confirmation of the meeting between the two prime ministers. India has maintained there are certain "harsh realities" on the ground. Foreign Secretary Sujatha Singh has said that "we continue to face acts of terrorism by groups operating from Pakistan and territories under the control of Pakistan. There are also many persons engaging in hostile propaganda against India, who continue to roam freely in Pakistan."

Sartaj Aziz, adviser to the Pakistan prime minister on National Security and Foreign Affairs, has in an interview to an Indian TV channel said last week that he has "low expectations on the outcome" of the meeting between the two prime ministers.

Manmohan Singh, who will hold his third summit meeting with Obama, said India-US ties "which is one of our most important relationships, has transformed into a global strategic partnership". The meeting is expected to focus on implementation of the landmark India-US civil nuclear deal, on enhancing defence cooperation and Afghanistan.

President Obama has described India-US relations as one of the "defining partnerships of the 21st century". Vice President Joe Biden and US Secretary of State John Kerry visited India earlier this year to set the stage for Manmohan Singh's working visit.

The prime minister said India and the US have "registered impressive progress in our cooperation across the full spectrum of the relationship".

India views the US as "a long-term partner in our development efforts, and in fostering a global environment that is conducive to our growth".

"For India, the US remains a key source of technology, investment, innovation and resources, and one of the most important destinations for our goods and services. We have productive and deepening partnerships in trade and investment, defence, counter-terrorism, intelligence, internal security, cyber security, civil nuclear energy, environment, health, higher education, space, science and technology and culture. People-to-people contacts are a strong feature of our engagement. We have also launched development partnership in third countries," said the departure statement.

In his address to the UNGA on Sep 28, the prime minister said he would "emphasize the importance of maintaining poverty eradication and inclusive development at the core of the post-2015 development agenda".

"The Sustainable Development Goals that are expected to be drawn up as part of the follow-up to the Rio+20 Conference should ensure a holistic approach to sustainable development objectives, ensuring a balanced treatment of its economic, social and environmental dimensions as well as universal applicability".

The prime minister said he would also convey India's "strong conviction that global challenges are best addressed through multilateral approaches, with the United Nations at its centre".

India would also press for early reform of institutions of global political and economic governance, particularly the United Nations Security Council, he said.

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News Network
July 17,2020
New Delhi, Jul 17:  Congress leader Rahul Gandhi on Friday said that as India's COVID-19 tally has crossed 10,00,000 mark and issued a warning that by August 10, more than 20,00,000 people may be infected in the country. He called on the government to take concrete steps to control the pandemic.
 
Taking to Twitter, Gandhi marked his earlier tweet from July 14 that stated: "This week the figure will cross 10,00,000 in our country."
"The tally has crossed 10,00,000 mark. If COVID-19 continues to spread at the same speed, by August 10, more than 20,00,000 people will be infected in the country.
 
The government must take concrete, planned steps to stop the epidemic," he tweeted today.
With the highest single-day spike of 32,695 cases and 606 deaths, India's COVID-19 tally on Thursday reached 9,68,876, informed the Union Ministry of Health and Family Welfare on Thursday.
 
The total number of COVID-19 cases includes 3,31,146 active cases, 6,12,815 cured/discharged/migrated and 24,915 deaths. 

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Agencies
March 9,2020

Mumbai, Mar 9: The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.

The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.

Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.

The benchmark index of BSE Sensex was trading at 35,232.67 points, lower by 2,343.95 points or 6.24% from the previous close of 37,576.62 points. 

It had opened at the intra-day high of 36,950.20 and has so far touched a low of 35,109.18.

The Nifty50 on the National Stock Exchange was trading at 10,314.25 points, lower by 675.20 points or 6.14% from the previous close. 

It was a sell-off across sectors, led by financial, metal, energy and IT stocks - which weighed on the markets.

Further, crude oil prices also slumped around 30% on Monday as Organization of Petroleum Exporting Countries (OEPC) failed to agree on an output cut deal, eventually causing Saudi Arabia to cut its prices as it is likely to increase its production. Saudi Arabia's stance has already raised concerns of an all-out price war.

Brent crude futures are currently trading around $34 per barrel.

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to reports.

As per analysts, the oil market witnessed the worst price fall on Monday since the 1991 Gulf War.

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News Network
January 7,2020

Jan 7: India’s monetary authority allowed banks to offer foreign-currency transactions outside of local market hours, a move aimed at boosting trading volumes at home.

Interbank deals, as well as those with customers in and outside India, can be undertaken by banks or their overseas branches and units at all times, the Reserve Bank of India said in a statement late Monday. It stopped short of saying whether the timing of the onshore over-the-counter market has been extended from the current 9 a.m. to 5 p.m.

The move is in line with recent recommendations to reverse the trend of the partially convertible rupee being traded more abroad than in India. London has overtaken Mumbai to become the top center for trading the rupee, adding to a sense of urgency among local authorities to deepen the onshore market.

Average daily volumes for rupee in the U.K. soared to $46.8 billion in April, a more than fivefold jump from $8.8 billion in 2016, according to a survey from the Bank for International Settlements published in September. That exceeded the $34.5 billion recorded in India.

Analysts say more trading abroad could amplify volatility in the domestic market and reduce the effectiveness of policy actions.

India’s decision comes as the London Stock Exchange Group Plc has started asking market participants if they want the bourse to function fewer hours, signaling it’s open to an argument driven by changing trading patterns and calls for a better work-life balance.

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