logo
BRICS agree to joint statement ahead of Rio leaders summit

BRICS agree to joint statement ahead of Rio leaders summit

Hindustan Times13 hours ago
By Lisandra Paraguassu BRICS agree to joint statement ahead of Rio leaders summit
RIO DE JANEIRO, - Diplomats from the BRICS group of developing nations have agreed on a joint declaration of their leaders at a summit in Rio de Janeiro this week, three people familiar with the talks said on Saturday.
The shared statement, which a gathering of their foreign ministers failed to achieve in April, underscores the group's commitment to consensus despite its quickly expanding ranks.
The group of major emerging economies expanded last year beyond Brazil, Russia, India, China and South Africa to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates.
That has added diplomatic weight to the gathering, which aspires to speak for developing nations in the Global South, but also increased the complexity of reaching common terms on contentious geopolitical issues.
Negotiators preparing for the leaders summit over the past week had struggled to find shared language about the bombardment of Gaza, the Israel-Iran conflict and Africa's representative in a proposed reform of the United Nations Security Council, said two of the sources, who requested anonymity to speak openly.
To overcome differences among African nations on the continent's Security Council representative, the group agreed to endorse seats for Brazil and India, while leaving open which country should represent Africa's interests, a person familiar with the talks said.
The source said the group had agreed to sharpen its tone on conflicts in the Middle East, strengthening language beyond an April note expressing "serious concern."
On trade, sources said the BRICS will continue their thinly veiled criticism of U.S. tariff policy under President Donald Trump from the April ministerial meeting, where they warned against "unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs."
This article was generated from an automated news agency feed without modifications to text.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump Signs ‘One Big Beautiful Bill Act': What It Means For Indians And High-Income Americans
Trump Signs ‘One Big Beautiful Bill Act': What It Means For Indians And High-Income Americans

News18

time40 minutes ago

  • News18

Trump Signs ‘One Big Beautiful Bill Act': What It Means For Indians And High-Income Americans

Last Updated: The bill, passed by both chambers of Congress, includes several measures that will impact Indian families and workers abroad US President Donald Trump signed into law the 'One Big Beautiful Bill Act" on Friday during a Fourth of July picnic at the White House, bringing sweeping changes to taxes, remittances, and federal spending. The bill, passed by both chambers of Congress, includes several measures that will impact Indian families and workers abroad, as well as raise fresh questions about tax breaks for high-income Americans. 'This is the most patriotic bill ever passed," Trump said during the signing. 'We are putting American families, American jobs, and American values first." Impact On Indians: Remittance Tax One of the bill's key provisions is a 1 per cent levy on international money transfers made by non-US citizens, including green card holders and workers on temporary visas. The tax applies to remittances sent using cash, money orders, or cashier's cheques. India, the world's largest remittance recipient, could be significantly affected. According to the Reserve Bank of India, Indian nationals received $32.9 billion in remittances from the US in 2023-24, accounting for nearly 28 per cent of total inflows. The new levy, even at a reduced rate of 1 per cent — down from an earlier proposed 5 per cent— may strain households in states like Kerala, Uttar Pradesh, and Bihar, where remittances support education, healthcare, and housing. Tax Cuts For The Wealthy The law allows up to $10,000 in interest deductions on loans for buying new American-made vehicles. However, federal tax credits for electric vehicles — which offered up to $7,500 in incentives — will now end in September, four years ahead of schedule. Meanwhile, clean energy tax credits from the Biden era will be phased out entirely by 2028. Defence And Immigration Spending The bill also boosts military and immigration enforcement budgets, with $150 billion allocated for shipbuilding and missile defence, including Trump's 'Golden Dome" project. Another $100 billion has been directed to US Immigration and Customs Enforcement (ICE) to ramp up immigration crackdowns. One campaign promise that did make it through — a tax exemption on service industry tips — was included in the final law. The Congressional Budget Office estimates that the new law will add $3.3 trillion to the federal deficit over the next decade. Notably, for many Indian families reliant on US remittances, even a modest 1 per cent tax could add up. At the same time, the law renews Trump-era tax cuts for the rich, intensifying debates over fiscal priorities and economic equity. Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated! First Published: July 06, 2025, 13:29 IST

Hezbollah chief says will not surrender under threat from Israel
Hezbollah chief says will not surrender under threat from Israel

Time of India

timean hour ago

  • Time of India

Hezbollah chief says will not surrender under threat from Israel

Hezbollah leader Naim Qassem said Sunday his group would not surrender or lay down its weapons in response to Israeli threats, despite pressure on the Lebanese militants to disarm. "This threat will not make us accept surrender," Qassem said in a televised speech to thousands of his supporters in the southern suburbs of Beirut, a Hezbollah stronghold, during the Shiite Muslim religious commemoration of Ashura. Lebanese leaders who took office in the aftermath of a war between Israel and Hezbollah last year have repeatedly vowed a state monopoly on bearing arms while demanding Israel comply with a November ceasefire that ended the fighting. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unsold Container Homes in National Capital Region - Prices You Won't Believe! Shipping Container Homes | Search Ads Search Now Undo Qassem, who succeeding longtime leader Hassan Nasrallah after Israel killed him in September, said the group's fighters would not abandon their arms and asserted that Israel's "aggression" must first stop. His speech came as US envoy Tom Barrack was expected in Beirut on Monday. Live Events Lebanese authorities are due to deliver a response to Barrack's request for Iran-backed Hezbollah to be disarmed by the end of the year, according to a Lebanese official who spoke on condition of anonymity. Lebanese authorities say they have been dismantling Hezbollah's military infrastructure in the south, near the Israeli border. Israel has continued to strike Lebanon despite the November ceasefire, claiming to hit Hezbollah targets and accusing Beirut of not doing enough to disarm the group. According to the ceasefire agreement, Hezbollah is to pull its fighters back north of the Litani river, some 30 kilometres (20 miles) from the Israeli frontier. Israel was to withdraw its troops from all of Lebanon, but has kept them deployed in five points it deemed strategic.

Xi Jinping delegates power, fuelling speculation over his political future
Xi Jinping delegates power, fuelling speculation over his political future

Business Standard

timean hour ago

  • Business Standard

Xi Jinping delegates power, fuelling speculation over his political future

Xi's move sparked speculation that he may be laying the groundwork for an orderly power transition or scaling back his role in preparation for possible retirement Press Trust of India Beijing Chinese President Xi Jinping, widely regarded as a leader for life, is beginning to delegate authority to key organs of the ruling Communist Party, a first in his over 12-year rule. Xi's move sparked speculation that he may be laying the groundwork for an orderly power transition or scaling back his role in preparation for possible retirement. Speculation about Xi's power transition was rife after state-run Xinhua news agency recently reported that the powerful 24-member Political Bureau of the ruling Communist Party of China (CPC) in its meeting on Jun 30 reviewed a set of new regulations on the work of the party's institutions. The meeting presided over by Xi himself stressed that the regulations will further standardise the establishment, responsibilities, and operations of the CPC Central Committee's decision-making, deliberative, and coordinating institutions. Such institutions should exercise more effective leadership and coordination over major tasks and focus on planning, discussing, and overseeing major tasks, the Xinhua report said. While the overseas Chinese dissident community in recent months was abuzz with speculation of a power struggle within the secretive and tightly controlled CPC, a China-based political analyst who spoke on condition of anonymity said the regulations on these party bodies could hint at preparations for Xi's retirement. The rules may be set up to regulate the bodies because it's a key time for power transition, the Hong Kong-based South China Morning Post on Sunday quoted the analyst as saying. Other experts, however, averred that Xi, regarded as the most powerful leader after CPC founder Mao Zedong, may be delegating some powers to focus on larger issues. It does seem that Xi might pay less attention to day-to-day details, which necessitates a policing mechanism to ensure that his policy priorities are still being carried out by lower-level officials, Victor Shih, a specialist in Chinese elite politics and finance at the University of California San Diego, told the Post. Xi also skipped the BRICS summit being held in Rio de Janeiro from Sunday. This is the first time since he became president that he will be missing the summit of the emerging economies. Chinese Premier Li Qiang is heading China's delegation at the summit. Xi's move of delegating power comes amid US President Donald Trump's tariff war disrupting China's USD 440 billion exports to America, besides major headwinds faced by the Chinese economy, with growth falling due to continued slowdown, and the collapse of the housing market, the mainstay of the economic growth. The crisis was exacerbated by the government's attempts to rein in the corporate sector and the unsuccessful zero COVID policy of shutting down Chinese cities during the height of the pandemic, resulting in the industry and business coming to a grinding halt. Since he took over power, becoming the General Secretary of the CPC in 2012, Xi, who was previously the Vice President, rapidly consolidated his power hold in the key power centres -- the party, the presidency, and the powerful military as the Chairman of the Central Military Commission (CMC) -- the overall high command of Chinese armed forces. As he firmed up his grip over power structures, carrying out China's biggest anti-corruption campaign in which over a million officials were punished and dozens of top generals purged, Xi was declared as core leader of the party, a designation that was conferred only on party founder Zedong. Later, the key rule of the president's term of two five-year terms was amended by the legislature, paving the way for him to get elected for an unprecedented third five-year term as the General Secretary of the Party in 2022 and as President of the country in the following year. All of Xi's predecessors retired after two five-year terms, while he continued in power with no term limits, earning him the label of president for life. Analysts say his plan to remain in power or share power was expected to unravel before or during the next five-year congress of the CPC to be held in 2027, by which time his third term will end.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store