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Key challenges, political will top agenda as Crans Montana Forum begins

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Crans Montana Forum 2018

Dakhla (Morocco), March 16 : With focus on key international challenges like urban global management, ocean economy, food and public health issues and the growing potential of Africa-Asia cooperation, the Crans Montana Forum began on Friday in this western town of Morocco.

Former French President Nicolas Sarkozy, Reverend Jesse Jackson, President and Founder of Rainbow Push Coalition, and leaders from several countries joined Jean-Paul Carteron, Honorary Chairman and Founder of the Crans Montana Forum, at the opening ceremony here.

The major focus of the Forum this year is on the Africa and South-South Cooperation.

In his address, Jesse Jackson, one of America’s foremost civil rights figures, stressed on the need to develop and mobilize political will to “end poverty, hunger, illiteracy and killer diseases in the world”.

“Humans have limited but genuine freedom through our individual decisions and our collective politics to make a positive difference in the world. If we can develop and mobilize political will, we will find constructive ways for South-South Cooperation and end the divisions of North and South, rich and poor, powerful and disenfranchised,” Jackson said.

Organized under the patronage of His Majesty King Mohammed VI, a royal message from the King was read at the Forum’s opening ceremony by Yanja El Khattat, President of the Dakhla-Oued Eddahab Region, of which Dakhla is a part.

Various speakers at the opening ceremony highlighted the crucial role being played by Morocco to be a platform of gateway to Africa and to highlight the kep challenges being faced by African and other countries.

The conference is being attended by over 3,500 delegates and leaders from various countries and 43 international organizations.

The Forum will discuss the crucial issue of urban global management in view of the increasing rural exodus and the urban planning challenges.

The Forum will also discuss extending the Silk Road to Africa and fostering Asia-Africa partnerships. It will also have sessions on women empowerment and youth empowerment and integration.

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Business

Weak rupee, global cues depress equity indices; capital goods stocks fall

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SENSEX-

Mumbai, July 19: Depreciation in the Indian rupee coupled with decline in the global markets subdued the key Indian equity indices on Thursday.

According to market observers, heavy selling pressure was witnessed in capital goods, healthcare and IT stocks.

At 3.30 p.m., the wider Nifty50 on the National Stock Exchange provisionally closed at 10,957.10 points, lower by 23.35 points and 0.21 per cent from the previous close of 10,980.45 points.

The barometer 30-scrip BSE Sensex, which had opened at 36,509.08 points, closed at 36,351.23 points — lower by 22.21 points or 0.06 per cent — from its previous session’s close of 36,373.44 points.

It touched an intra-day high of 36,515.58 points and a low of 36,279.33 points. The BSE market breadth was bearish with 1,738 declines against 831 advances.

The top gainers on the Sensex were Vedanta, Yes Bank, ITC, Bharti Airtel and Adani Ports whereas Kotak Mahindra bank, Larsen and Toubro, Hero MotoCorp, Tata Steel, Coal India were the top losers.

IANS

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Domestic political uncertainty subdues equity indices

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Mumbai, July 18: Domestic political uncertainty in the wake of a no-confidence motion against the central government dragged the equity indices lower on Wednesday.

According to market observers, profit booking in mid-and-small-cap stocks also subdued the equity indices.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,980.45 points — lower by 27.60 points or 0.25 per cent — from its previous close.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 36,722.41 points, closed at 36,373.44 points — lower by 146.52 points or 0.40 per cent — from its previous session’s close of 36,519.96 points.

The barometer index fell after it touched a fresh all-time high of 36,747.87 points. The index had dipped to a low of 36,320.92 points during the intra-day trade.

On Tuesday — the previous trade session — both the indices had made gains on the back of a slide in global crude oil prices along with expectations of fund infusion into public sector banks.

IANS

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Business

Government increases sugarcane FRP to Rs 275

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Sugarcane

New Delhi, July 18: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a Rs 20 per quintal increase in the Fair and Remunerative Price (FRP) for sugarcane to Rs 275 for the 2018-19 season starting October.

“The cost of sugar production is estimated to be only Rs 155 per quintal against which we have decided to give FRP of Rs 275 per quintal. This is 77.42 per cent higher than the cost of production,” Law Minister Ravi Shankar Prasad told reporters here after the cabinet meeting.

The FRP is the minimum price legally guaranteed to farmers for sugarcane.

As per the estimates issued by industry body Indian Sugar Mills Association (ISMA), total sugar production in season 2018-19 starting October is expected to be 35-35.5 million tonnes.

Prasad said that the total remuneration for sugarcane to farmers for the year 2018-19 is estimated to be Rs 83,000 crore.

IANS

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