County Summit Financial News

Joe Biden arrives in Vietnam on Sunday to deepen cooperation between the two nations, in the face of China's growing ambitions in the region. Biden — who is flying from the G20 summit in New Delhi — will meet the leader of Vietnam's ruling Communist Party, Nguyen Phu Trong, on Sunday, and is expected to sign off on a «comprehensive strategic partnership», Hanoi's highest level of diplomatic ties. The underlying goal of the short visit will be much the same as Biden's time at the G20 gathering — to shore up support against China's increasing influence. For Vietnam, the upgrading of diplomatic ties is significant.

China's Belt and Road investment plan, Italian Prime Minister Giorgia Meloni said Sunday, but doing so would not damage bilateral relations. «We have yet to make a decision,» Meloni told a press conference at the close of the G20 summit in New Delhi, a day after meeting for talks with Chinese Premier Li Qiang. Should Rome decide to quit, it «would not compromise relations» with China, Meloni said. Critics say the Belt and Road plan is a Trojan horse to increase China's influence and Meloni is under pressure to exit, but hopes to do so without inflaming tensions. The deal automatically renews in March 2024 unless Italy opts out by the end of this year. Meloni said the government was «evaluating the merits» of being part of the trillion-dollar investment scheme, which debt-ridden Italy joined in 2019. It is the only one of the group of leading developed democracies to have signed up. Italian Foreign Minister Antonio Tajani said earlier this month that the Belt and Road initiative «has not produced the results we were hoping for». The Italian PM is tipped to travel to Beijing for a state visit in the next few months, or at the start of next year, but would not be drawn on a possible date. «It makes more sense to go to China when we have more elements about our bilateral cooperation and how to develop it,» she said. Meloni's meeting with Li, their first face-to-face, came as a broad alliance of states at the G20 unveiled ambitious plans to create a modern-day Spice Route linking Europe, the Middle East and India, which signatories hope will offer a counterbalance to lavish Chinese infrastructure spending. Some analysts expect Meloni to pull out of Belt and Road while boosting other existing Italy-China accords. The meeting

Congress leader Priyanka Gandhi Vadra flayed the BJP-led government at the Centre on Sunday, saying its policies are meant to benefit the rich and not the poor. Addressing a Congress rally at Niwai in Tonk district in poll-bound Rajasthan, Priyanka Gandhi alleged that Prime Minister Narendra Modi goes on foreign trips and strikes deals for his «industrialist friends». «Modi comes back from abroad and says our (India's) respect has gone up.

Delhi Lt Governor VK Saxena activated the rain contingency plan as it began to pour during the dinner for G20 leaders hosted by President Droupadi Murmu, Raj Niwas officials said on Sunday. They added that Saxena has also thanked Delhi-NCR residents for making the G20 Summit a grand success. «The Lt Governor underlined that without their support, enthusiasm and patience in face of inconveniences, this international event could not have played out with the perfection that it did,» an official said. Saxena also thanked the «rain gods» who made the stay of the visiting dignitaries all the more special by bringing down temperatures and improving the Air Quality Index. Various government departments and agencies had formulated rain contingency plans in case of a downpour. «For waterlogging that occurred at certain sites prone to flooding, pumps were immediately put into action.

G20 Summit meet on Sunday. “Our Indian friends said they would propose promising areas they can be invested in," Lavrov told reporters, citing talks with Indian counterpart Subrahmanyam Jaishankar in Jakarta, Indonesia, on the side lines of the East Asia summit prior to his arrival to India. “Right now our governments are talking how to use and invest them to mutual benefit.", Bloomberg quoted Russia's Foreign Minister.

Sergei Lavrov claimed a diplomatic win on Sunday, declaring a G20 summit in India a «success» after the bloc shied away from direct criticism of Moscow's invasion of Ukraine. «We were able to prevent the West's attempts to 'Ukrainize' the summit agenda» Lavrov said as the two-day meeting of leaders closed.

G20 Leaders' Summit in New Delhi has garnered widespread acclaim from global experts, with John Kirton, the Director of the G20 Research Group, hailing it as a «significant step forward in global governance.» Kirton's remarks come as the international community reflects on the summit's outcomes and implications for global diplomacy and cooperation. In an analysis of the New Delhi Declaration, Kirton emphasized that the G-20, representing the world's major economies, has taken on a pivotal role in shaping global governance. The declaration's breadth of coverage, spanning a wide spectrum of global issues, demonstrates the G20's growing influence and capacity to address multifaceted challenges. John Kirton said, «I think it is a significant step forward in global governance.

India’s Prime Minister Narendra Modi touted his country as well-placed to bridge gaps in the Group of 20 top economies and solve global problems

Narendra Modi called an end Sunday to the G20 summit in New Delhi by passing on a ceremonial gavel to Brazil, which will take the bloc's presidency, according to a report published by the news agency AFP. "I want to congratulate Brazil's president and my friend Lula da Silva, and hand over the presidency's gavel to him," the PM said. He offered best wishes to Brazil for the presidency.

G20 Summit 2023: The G20 Summit has entered its final day today i.e. on 10 September. Prime Minister Narendra Modi will hold various meetings with eight global leaders including French President Emmanuel Macron, Canadian PM Justin Trudeau, Comoros, Turkey, UAE, South Korea, etc.

G20 Summit in New Delhi, Prime Minister Narendra Modi on Sunday proposed holding a virtual session in November this year to review the subjects proposed during the meeting. "India has the responsibility of G20 presidency till November. In these two days, you (world leaders) have expressed several views and put forward various proposals," Modi said.

Netanyahu has described it as the «largest cooperation project in our history» that will «change the face of the Middle East, Israel, and will affect the entire world». The new economic corridor, which many see as an alternative to China's Belt and Road Initiative, was jointly announced on Saturday by the leaders of the US, India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy and the European Union on the sidelines of the G20 summit in New Delhi. In a video message released late Saturday evening, Netanyahu said that Israel is at the focus of an unprecedented international project that will link infrastructure from Asia to Europe. «I welcome the statement that was released today by the United States, India, Saudi Arabia, the UAE and the European Union, as well as France, Italy and Germany,» Netanyahu said. «A good week to you, citizens of Israel.

G20 Summit in India, US President Joe Biden on Sunday departed for Vietnam to expand ties between the two nations. Biden will meet Vietnamese General Secretary Nguyen Phu Trọng and other key leaders to discuss ways to further deepen cooperation between the two nations.

ITC hotel sources informed news agency ANI. During the G20 Summit in India, the ITC hotel chains have taken a noteworthy culinary initiative by featuring a bouquet of vegetarian dishes crafted from millets, a group of highly nutritious grains. Two talented women chefs from ITC Sheraton New Delhi have curated a menu that boasts an impressive array of 20 millet-based dishes.

G20 Summit in India nears its commencement, said the British High Commission in India. The UK will provide USD 2 billion to the Green Climate Fund (GCF) which is the biggest single funding commitment the UK has made to help the world tackle climate change, which was established by 194 countries following the Copenhagen Accord at COP15.

G20 summit declaration, which refrained from explicitly condemning Moscow for its actions in the Ukraine conflict. Russia expressed the view that the leaders of the G20 acted in the spirit of conflict resolution as discussions continued on Sunday, Reuters reported.

Indian Biogas Association (IBA). Biofuel alliance can be a win-win situation for G20 countries and the environment, IBA said. According to a study by the IBA, the biofuel alliance can generate opportunities worth USD 500 billion in the next three years for G20 countries. The findings of the study assume significance as India is currently hosting the G20 leaders' Summit in New Delhi.Biogas can generate an opportunity of USD 200 billion, considering the least investment required, compared to other energy generation options and easy availability of raw materials, it stated.

United Kingdom Prime Minister Rishi Sunak announced a record climate aid commitment of $2 billion for the Green Climate Fund on Sunday, the last day of the two-day G20 Summit in New Delhi. The contribution is by far the biggest single funding commitment the UK has made to help the world tackle climate change. «The UK will contribute £1.62 billion ($2 billion) to the Green Climate Fund (GCF), which was established by 194 countries following the Copenhagen Accord at COP15,» said the British High Commission in India.

G20 leaders are paying their respects at a memorial site dedicated to Indian independence leader Mahatma Gandhi on the final day of this year's summit

G20 summit. Our efforts are a testament to the collective spirit of unity and progress." Meanwhile, Union Finance Minister Nirmala Sitharaman interacted with the first Deputy Managing Director of the IMF, Gita Gopinath during Ratri Bhoj par Samvad at Bharat Mandapam in the national capital.

G20 Summit remained full of heavy engagements for the world leaders here in New Delhi including the announcement of a historic connectivity deal between India, the Middle East, and Europe. The US, India, Brazil, and South Africa reaffirmed their shared commitment to the G20, which is to deliver solutions for the shared world. Morocco's government said that 2,000 died and 329 were injured after a powerful quake, more than doubling the earlier toll.