Brazil Financial News

Narendra Modi on Monday shared a hearty laughter with French President Emmanuel Macron and World Bank President Ajay Banga, on the sidelines of the G20 Summit in Rio de Janeiro, Brazil. A video posted on Macron’s official X (formerly Twitter) account captured the candid exchange, in which Macron warmly greets PM Modi with a hug, and Banga lightens the mood with a witty remark. In the clip, Banga approaches the two leaders and, turning to PM Modi, jokes: «He [Macron] is going from one Indian to another,» prompting laughter from both Modi and Macron.

Narendra Modi and UK Prime Minister Keir Starmer held their first bilateral talks on Monday at the G20 Summit in Rio de Janeiro, Brazil. The two agreed to strengthening the UK-India ties, with a focus on areas such as technology, green energy, security, and innovation. An important topic that was raised during the talks was the issue of Indian economic offenders residing in the UK, which the Prime Ministers acknowledged as a concern.

BAKU: With no much headway on the critical issue of climate finance at UN climate talks COP29 here, negotiators of 198 countries appear to be looking at any big signal from the G20 summit in Brazil’s Rio de Janeiro, where heads of state/government of rich nations and emerging economies are brainstorming on multiple issues, including climate and renewable energy. «We urge them to use the G20 meeting to send a positive signal of their commitment to address the climate crisis. We want them to provide clear mandates to deliver at COP29,» said COP29 president Mukhtar Babayev. At a press conference, he did not mince words while speaking on how important the G20 was for the success of COP29 when the big stake issue of climate finance continues to elude the convergence point among rich and developing countries. «We cannot succeed without them (G20 nations), and the world is waiting to hear from them… They account for 85% of global GDP and 80% of emissions,» said Babayev.

«It was a decision that was a totally good one,» Macron said in Brazil, on the sidelines of a G20 summit also attended by US President Joe Biden, who made the policy change. «I understand it was also triggered by a grave change in the conflict which shouldn't be underestimated, which is the entry of North Korean troops alongside Russia on what is European soil,» he told journalists.

Xi Jinping warned Monday the world faces «turbulence,» as G20 leaders met in Brazil two months before Donald Trump returns to the White House. US President Joe Biden was attending his last summit of the world's leading economies, but as a lame duck eclipsed by Xi who has cast himself as a protector of the international order in the Trump 2.0 era. World leaders are meeting for two days to try to jumpstart stalled UN climate talks and overcome their differences on wars in the Middle East and Ukraine, and extracting more tax from the super-rich.

G20 Summit in Brazil on Monday and Tuesday will bring leaders of all major economies together once again. The task before them is cut out. Prime Minister Narendra Modi is representing India for a record eleventh successive time. Such continuity is an advantage in a world of turmoil...when there is a deficit of global governance. Nothing is more powerful than the force of example. Since the first G20 Summit in 2008, and particularly since 2014, India has been a source of economic stability and growth. India, the fastest growing large economy, has quadrupled its GDP to almost $4 trillion since 2008. It is on track to become the third-largest economy in the next few years.

Starmer's office said on Monday, following a months-long pause in negotiations due to elections in both countries. London will seek a «new strategic partnership» with India as well as deepening co-operation in areas like security, education, technology, and climate change, Starmer's office said after he met his Indian counterpart, Narendra Modi, at the G20 summit in Brazil. «A new trade deal with India will support jobs and prosperity in the UK,» Starmer, whose Labour Party was elected to power in July, said.

Elon Musk has been quite instrumental in the US Presidential elections 2024 and his contributions have been significant for Donald Trump's massive victory against Kamala Harris. Musk, after the win, has been placed as the co-head of a crucial committee for monitoring government expenses in the upcoming Trump administration, being seen as a reward for his continued support for Trump throughout the campaign season.

Brazil is pushing for concerted action to alleviate hunger as it hosts a summit of the Group of 20 leading economies amid global uncertainty over two major wars and incoming U.S. President-elect Donald Trump

U.K. Prime Minister Keir Starmer says he wants a strong and durable relationship with China as he met with Chinese President Xi Jinping at the G20 summit in Brazil

The U.K. government has hit Iran with new sanctions for sending ballistic missiles and other weapons to Russia in support of the war against Ukraine

PM Narendra Modi while addressing the maiden session of the Rio G20 Summit on Monday pointed out that the countries of the Global South are most adversely impacted by the food, fuel and fertiliser crisis caused by global conflicts (read Ukraine and Gaza) and in that context supported Brazil's initiative for a 'Global Alliance against Hunger and Poverty'. Addressing the session titled 'Social Inclusion and the Fight Against Hunger and Poverty', Modi noted that the G20 discussions can only be successful when «we keep in mind the challenges and priorities of the Global South». «This is an important step towards the implementation of the Deccan high-level principles for Food security, adopted at the New Delhi Summit.» Simultaneously, the PM called for reforms of the global institutions which has also been a key priority at the Brics as well as for G20 hosts Brazil and South Africa, among other countries. «And just as we amplified the voice of the Global South by granting permanent membership of G20 to the African Union during the New Delhi Summit, we will reform institutions of global governance.» The second session of the G20 Summit focused on reforms of Global institutions.

Xi Jinping warned Monday the world faces «a new period of major changes» as G20 leaders met in Brazil two months before Donald Trump returns to the White House. US President Joe Biden was attending his last summit of the world's leading economies, but as a lame duck eclipsed by Xi who has cast himself as a protector of the international order in the Trump 2.0 era. World leaders are meeting for two days to try to jumpstart stalled UN climate talks and overcome their differences on wars in the Middle East and Ukraine, and extracting more tax from the super-rich.

French farmers are mobilizing for widespread protests Monday, targeting the controversial EU-Mercosur trade agreement

Carl Benz might have invented the automobile, but it’s the United States that got us to drive them. The relentless export of American cars and car culture put the world on the road in the 20th century. By the 1960s, Ford Motor Co. had plants in almost every major European country, as well as Argentina, Brazil, Egypt, India, Israel, Peru, Pakistan, South Africa, Turkey, and Zimbabwe. Right now, it’s passing that baton to China with barely a fight. The US car industry that emerges will be smaller, less influential — and, eventually, less profitable and financially sustainable.

Colgate-Palmolive India managing director Prabha Narasimhan said people are delaying purchases or extending consumption of daily household and personal products and with a large number of people making these small changes, it has led to a slowdown in the overall market. «Consumers tend to titrate or delay their usage of things, just quite intuitively when they feel the pressure. We have so much headroom to go in terms of moving per capita consumption, our focus really needs to be on that instead of worrying about the big macro indicators and what's happening outside our control,» Narasimhan told ET. «We are certainly seeing a little bit of headwind as far as urban growth is concerned and I do expect it to be temporary.» A report by NielsenIQ said urban demand increased 2.8% year-on-year in the July-September period, while rural demand grew more than twice as fast at 6%. Overall, the FMCG sector grew 5.7% by value and 4.1% by volume during the quarter. The company behind the eponymous toothpaste brand controls half the oral care segment in country and outpaced the market with 10% growth during quarter ended September.

bilateral talks with President Bola Ahmed Tinubu and interacted with the Indian community. Modi arrived in the Nigerian capital early Sunday on the first trip to the West African country by an Indian prime minister after a gap of 17 years. After concluding his «productive» visit, Modi posted on X, «Thank you Nigeria for a productive visit, which will add strength and vigour to India-Nigeria friendship.» «PM @narendramodi concludes a productive visit in Abuja, Nigeria,» the Ministry of External Affairs (MEA) said in a post on X.

«The fight against climate change has been a defining cause of President Biden's leadership and presidency,» the White House said in a statement ahead of Biden touching down in the Brazilian city of Manaus, in the Amazon. Biden is making his last swing through South America before handing over the presidency to Donald Trump — a climate-change skeptic.

Janja Lula da Silva, swore at billionaire Elon Musk during a G20 social event on Saturday at which she spoke about the need to regulate social media to rein in misinformation. A ship's horn sounded as she spoke and she joked, «I think it's Elon Musk,» before adding, «I'm not afraid of you, fuck you, Elon Musk.» Musk, owner of social network X, reacted to a video of her remarks by posting a laughing out loud emoji graphic. In another post, he added, «They are going to lose the next election,» in a reference to President Luiz Inacio Lula da Silva.

Disgruntled X users are once again flocking to Bluesky, a newer social media platform that grew out of the former Twitter before billionaire Elon Musk took it over in 2022

In his departure statement ahead of his visit, PM Modi stated that he would be first visiting Nigeria at the invitation of President Bola Ahmed Tinubu with a focus on reinforcing the strategic partnership between the two nations. The Prime Minister will also be meeting with the Indian community in Nigeria during his visit. He will be there in the African nation from November 16 to 17. «At the invitation of H.E. President Bola Ahmed Tinubu, this will be my first visit to Nigeria, which is our close partner in the West African region. My visit will be an opportunity to build upon our Strategic Partnership that is based on shared belief in democracy and pluralism. I am also eagerly looking forward to meeting the Indian community and friends from Nigeria who have sent me warm welcome messages in Hindi,» the statement read.