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G20 summit under India's presidency have brightened with both the West and Russia signalling their backing despite persisting differences over the language on the Ukraine war. Both Russia and the West, including the European Union (EU), are hopeful of an agreed text at the end of the summit, being held in the capital on Saturday and Sunday, said people with knowledge of the matter. «The negotiations are moving towards a consensus on a declaration, but challenges still remain.

Charles Michel on Friday said the EU fully supported Prime Minister Narendra Modi's efforts to bridge the gap between the Global South and the Global North. He also said the EU supported India's efforts to build a consensus on a leaders' declaration for the G20 summit in New Delhi over the weekend. The comments came amid the G20's focus on addressing the challenges faced by the Global South under the Indian presidency. «I don't know if this is possible or not to have an agreement on a final communique, we will see. But we will defend our principles and will also support the efforts made by India,» Michel, who is here to attend the G20 summit, told a press conference. In response to a question by ET, Michel said the EU backed Modi's agenda for the Global South.

Investing.com — The S&P 500 was flat Friday, despite a rise energy and tech, but remained on course to end the week in the red as fears that the Fed may have to persist with higher for longer rates weighed on sentiment.

New Delhi: UK prime minister Rishi Sunak, who is attending the G20 Leaders’ Summit in India, will announce measures to alleviate the impact of the Russian blockade of Ukrainian grain supplies that has caused a global spike in food prices. “Once again, (Russian president) Vladimir Putin is failing to show his face at the G20.

G20 Summit: The world leaders are in New Delhi for the 18th G20 Summit which will begin on 9 September. US President Joe Biden and Prime Minister Narendra Modi held a bilateral meeting on Friday and soon the minutes of the meeting will be out. One of the major questions around the G20 Summit will be about the New Delhi declaration and as per Indian officials, the declaration is almost finalized.

airport. According to media reports, the G20 leaders will be treated to an exquisite Indian vegetarian platter with delicacies from across the country.

The German government says it will keep two subsidiaries of Russian oil giant Rosneft under the control of German authorities for another six months

United Nations Secretary General Antonio Guterres on Friday said he is not very hopeful that there will be a peace solution in the immediate future for the Russia-Ukraine conflict. Addressing a press conference here ahead of the G20 summit, Guterres said the two countries still do not appear to be ending the conflict. Asked whether India could mediate to end the war, he said, «When you have a conflict, all efforts of mediation are welcome… (But) I am not very hopeful that we will have a peace solution in the immediate future.» On the need for reforms to multilateral institutions, Guterres said when these multilateral institutions were created, many of the countries of today did not even exist. «This is true for the UNSC and many others,» he said. Asked whether it was time for India to become a member of the UNSC, Guterres said, «It is not for me to decide who would be in the UNSC, it is for the members (to decide).» «But it is obvious that India is today the country of the world with the largest population and it is a very important partner in the multilateral system. »All I can say is that I believe that we need reforms in the multilateral system to reflect today's world," he added. Asked whether there should be a timeline for reforms to the multilateral institutions, Guterres said, «There is a need to do it, but I am not sure if we get it.

macroeconomic uncertainty. Oil producers Saudi Arabia and Russia extended their voluntary oil output cuts of a combined 1.3 million barrels per day (bpd) to the end of the year which resulted in a sharp surge in international crude prices - reaching a 10-month high peak earlier this week. Brent crude futures were up 53 cents to $90.45 a barrel, while US West Texas Intermediate crude (WTI) futures were up 39 cents at $87.26 a barrel, according to news agency Reuters.

United Nations Secretary-General Antonio Guterres said on Friday that the world was facing the risks of conflict as divisions between nations widen, in a warning ahead of a G20 leaders summit. «If we are indeed one global family — we today resemble a rather dysfunctional one», Guterres told reporters in New Delhi. «Divisions are growing, tensions are flaring up, and trust is eroding — which together raise the spectre of fragmentation, and ultimately, confrontation.» The Group of 20 major economies currently consists of 19 countries and the European Union, making up about 85 percent of global GDP and two-thirds of the world population. But deep disagreements on Russia's war in Ukraine and how to help emerging nations tackle climate change are expected to hamper agreements during the two-day meeting in New Delhi. «This fracturing would be deeply concerning in the best of times, but in our times, it spells catastrophe», Guterres added. «Our world is in a difficult moment of transition. The future is multipolar, but our multilateral institutions reflect a bygone age. »The global financial architecture is outdated, dysfunctional, and unfair.

Vasudhaiva Kutumbakam', 'welcome' has been printed in languages of all G20 member nations and invited countries, on an official welcome backdrop installed in the Delegation Offices set up at Hall no. 14 of the Bharat Mandapam complex. From 'Willkomen' in German to 'Selamat Datang' in Indonesian and 'Bienvenido' in Spanish to Hosgeldiniz' in Turkish, the backdrop wears a colourful look. In a late Thursday night post on 'X', G20 India shared glimpses of the 'RBI Innovation Hub Pavillion', 'Digital India Experience Zone' and other facilities which have been created for delegates and others, in a video of the Bharat Mandapam. In the short video, G20 Chief Coordinator Harsh Vardhan Shringla also gave a sneak peek into dedicated office spaces which have been built for delegates of all G20 members nations and invited countries, besides a common spacious lounge area. The welcome backdrop was also shown in the video. From greetings in Bangla to German and Russian to Mandarin, the massive backdrop fronted by flags of all G20 members and invited countries and international organisations, paints a picture of 'Vasudhaiva Kutumbakam' — One Earth.

Rishi Sunak said on Friday that it was not his place to tell India what position it should take on Russia's war in Ukraine, in an interview to news agency ANI. «It's not for me to tell India what positions to take on international issues, but I know India rightly cares about the international rule of law, the UN Charter and respect for territorial integrity,» Sunak said when asked about India's stance. India has avoided blaming Moscow for the war and has called for a solution through dialogue and diplomacy.

Finance Minister Nirmala Sitharaman on Friday held a bilateral meeting with US Treasury Secretary Janet Yellen and discussed G20 priorities. The bilateral meeting took place a day ahead of the G20 Leadership Summit beginning on Saturday here. «FM Smt.

trade deal between India and the UK, because both of us think that would be a good thing and both of us need to make sure it works for our two countries. And at forums like this, I'm very keen to support Prime Minister Modi in making sure that this G20 is an enormous success for India, which I know it will be...". The British Prime Minister spoke on the UK-India Free Trade Agreement and said both countries are hoping to conclude a mutually beneficial deal.

ALSO READ: G20 Summit: EU expresses concern over draft joint communique on Ukraine issue “I don’t know if this is possible or not to have an agreement on a final communique, we will see. But we will defend our principles and will also support the efforts made by India," HT quoted Michel as saying when asked about the possibility of the Ukraine crisis holding up a leaders’ declaration.

(This Sept. 7 story has been corrected to fix AFC's ownership structure based on updated guidance from the AFC in paragraph 3)

Global food prices resumed declines to the lowest in more than two years amid ample supplies of cooking oils and dairy, even as worries persist over flows of key staples from some regions. 

Rahul Gandhi said. This is Rahul Gandhi's first foreign trip after the restoration of his Lok Sabha membership following the Supreme Court's stay on his conviction in the ‘Modi-surname’ remark. The Europe trip comes at a time when New Delhi is hosting the G20 Summit and heads of all major states are arriving in India's capital for the G20 summit on 9 and 10 September.

climate change, fairness in digital architecture, and more support for developing countries. Michel also said the EU would continue to back Ukraine and would not shy away from imposing more sanctions on Russia. He criticized Russia over its recently reported attacks at a Ukraine port and said they would exacerbate food shortage issues globally.

By Yousef Saba and Rachna Uppal

G20 summit, contributing to deteriorating relations. India has also strengthened its defence ties with the US by joining the Quadrilateral Security Dialogue with Japan and Australia, aimed at countering China's growing influence, reported Bloomberg. India, under Prime Minister Narendra Modi's leadership, is reportedly studying potential responses to a hypothetical Chinese invasion of Taiwan, according to senior Indian government officials.