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☆ India's moment has arrived — but many hurdles remain
▼ + stars: | 2024-02-04 | by ( Spriha Srivastava | Polly Thompson | ) www.businessinsider.com time to read: +8 min

India's economy is expected to expand by 6.5% this year, according to IMF forecasts. The world's most populous nation was keen to talk up its prospects at the World Economic Forum in Davos. Advertisement"India has seized the moment," proclaimed housing minister Hardeep Singh Puri with confidence during a panel at the World Economic Forum in Davos last month. The 10-strong group of emerging market nations now accounts for 45% of the world's population and 28% of global GDP. AdvertisementSome economists have criticized the government's narrative as a "false growth story," highlighting discrepancies in the data and criticizing the methods used to calculate economic growth.

Persons: —, Hardeep Singh, Smriti Irani, BI's Spriha Srivastava, that's, Narendra Modi's, Cash, Modi, SAJJAD HUSSAIN, I've, Andy Baldwin, EY, Narendra Modi, Brazil's Luiz Inácio Lula da Silva, Dan Kitwood, Getty, ISRO Goldman Sachs, Ashoka Mody, Rajesh Kumar Singh, Vladimir Putin, Singh Organizations: Economic, Service, BI, IMF, Business, Apple, ISRO, Princeton University, World Bank, US, of, Hindustan Times, Harvard Business Locations: Davos, India, China, Japan, Brazil, China India, India's, Ukraine

A person walks past the Sandton Convention Centre, which will host the upcoming BRICS Summit, in Johannesburg, South Africa August 19, 2023. South African summit organisers, however, say there will be no discussions of a BRICS currency, an idea floated by Brazil earlier this year as an alternative to dollar-dependence. Russian President Vladimir Putin, wanted under an international arrest warrant for alleged war crimes in Ukraine, will not travel to South Africa and instead join virtually. South Africa has also voiced support. Over 40 countries have expressed interest in joining BRICS, say South African officials.

Persons: James Oatway, Cyril Ramaphosa, Xi Jinping, Brazil's Luiz Inacio Lula da Silva, Narendra Modi, Vladimir Putin, Vinay Kwatra, Bhargav Acharya, Joe Bavier, Andy Sullivan Organizations: Sandton, REUTERS, Indian, China, BRICS, Thomson Locations: Johannesburg, South Africa, JOHANNESBURG, Brazil, Russia, India, China, Ukraine, United States

☆ BRICS nations to meet in South Africa seeking to blunt Western dominance
▼ + stars: | 2023-08-17 | by ( Tim Cocks | ) www.reuters.com time to read: +4 min

An attendant is stands next to South African, Indian, Russian, Brazilian and Chinese flags during a plenary session of BRICS Summit, in Xiamen, China September 4, 2017. South Africa will host Chinese President Xi Jinping, Brazil's Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi for the BRICS summit from August 22 to 24. Russia needs friends to counter its diplomatic isolation over Ukraine, and so is keen to bring in new members, as is its most important African ally, South Africa. BRICS nations are keen to project themselves as alternative development partners to the West. Officials in Brazil, China and South Africa said climate change may come up but indicated it wouldn't be a priority.

Persons: Tyrone Siu, S.Africa, Vladimir Putin, Xi Jinping, Brazil's Luiz Inacio Lula da Silva, Narendra Modi, Naledi Pandor, BRICS, Breton Woods, disbursing, Laurie Chen, Lisandra, David Stanway, Carien Du Plessis, Alexandra Hudson Organizations: BRICS, REUTERS, Tyrone, Global, Indian, New Development Bank, World Bank, Alexandra Hudson Our, Thomson Locations: Xiamen, China, India, Brazil, JOHANNESBURG, South Africa, Ukraine, . South Africa, United States, Saudi Arabia, Argentina, Egypt, AFRICA, BRICS, Russia, Africa, Beijing, Brasilia, Singapore, Johannesburg

Its oil deals with Russia are seen as undermining Western sanctions by allowing Russia to continue benefiting from energy revenues. A French presidential source told reporters that Brazil's Luiz Inacio Lula da Silva would also meet Zelenskiy while in Hiroshima. [1/9] Ukrainian President Volodymyr Zelenskiy arrives at Hiroshima airport for attending the G7 leaders' summit in Mihara, Hiroshima prefecture, western Japan May 20, 2023., in this photo released by Kyodo. A Chinese foreign ministry statement accused the G7 of attacking China and interfering in its internal affairs, including Taiwan. Reporting by Reuters G7 team in Hiroshima; Writing by David Dolan; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

Lula has been criticised in the West for suggesting Ukraine and Russia are to blame for the conflict that began when Moscow invaded its neighbour in February 2022. Last week he said the United States and European allies should stop supplying arms to Ukraine saying they were prolonging the war. Lula arrived in Portugal on Friday for a five-day visit as he strives to improve foreign ties. Portugal's President Marcelo Rebelo de Sousa, who accompanied Lula at the news conference, said their countries' stance on the war were different. Rebelo de Sousa said Ukraine had the right to defend itself and "recover" its territory.

Brazil's 1992 Earth Summit in Rio de Janeiro set the stage for all major international environmental agreements since, with the signing of U.N. Framework Convention on Climate Change, which is aimed at preventing extreme climate change and was the foundation of the COP meetings. He said Lula would turn around Brazil's environmental policies "180 degrees" from those of Bolsonaro. Lula won office last month over Bolsonaro, who appointed climate skeptics as ministers and saw deforestation in Brazil's Amazon rainforest spike to a 15-year high. On Thursday, Lula will meet with civil society and indigenous groups, as well as United Nations Secretary General Antonio Guterres.

☆ An extraordinary comeback for Brazil’s Lula sees a new ‘pink tide’ take shape in Latin America
▼ + stars: | 2022-11-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Political analysts said Lula's victory marked the most symbolic shift in a political movement that has seen the region's right-wing governments replaced by leftist leaders. A remarkable return to the presidency for Brazil's Luiz Inácio Lula da Silva heralds a new so-called "pink tide" in Latin America, but political analysts say the latest leftist resurgence is very different from the one that swept into power in the 1990s. It marked an extraordinary political comeback for the 77-year-old former metalworker, who was jailed in 2017 in a sweeping graft investigation following a two-term 2003-2010 presidency. Speaking at his campaign headquarters after securing victory, Lula described his return to office as a "resurrection." Political analysts said Lula's victory marked the most symbolic shift in a political movement that has seen the region's right-wing governments replaced by leftist leaders.

☆ Western leaders rushed to recognise Bolsonaro's defeat in Brazil to head off any Trump-like attempt to stay in power, experts say
▼ + stars: | 2022-10-31 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

World leaders swiftly backed Brazil's president-elect on his election victory over Jair Bolsonaro. Analysts say the move was likely meant to counter any attempt by Bolsonaro to undermine the vote. Analysts said the rush to congratulate da Silva was likely part of a coordinated campaign to head off attempts by Bolsonaro to question the election. For months, Bolsonaro has pushed baseless claims that the election, which many observers expected him to lose, was tainted by fraud. Bolsonaro's allies so far seem to have accepted the result, in which da Silva was declared the winner with 50.9% of the vote, The New York Times reported.

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