
Brics leaders condemn attacks on Iran and tell Israel to leave Gaza
In a joint statement released early on Monday morning, leaders gathered in Brazil agreed to denounce military strikes against Iran, a Brics member, since June 13, when Israel began attacks that culminated with US airstrikes nine days later.
The strikes 'constitute a violation of international law and the Charter of the United Nations,' according to the declaration.
The 10-member bloc of emerging-market nations also expressed 'grave concern about the situation in the Occupied Palestinian Territory' — citing Israeli attacks and the obstruction of the entry of humanitarian aid into Gaza, something Israel denies — while calling for a permanent and unconditional ceasefire, along with the release of all hostages.
The language is part of a broader call for global multilateral institutions, including the United Nations Security Council, to promote peaceful resolutions to ongoing military conflicts in the Middle East, Africa and Europe.
While it doesn't single out the US, it is likely to be seen as an unwelcome intervention in Israeli affairs as Netanyahu prepares to meet US President Donald Trump at the White House on Monday, Bloomberg reported.
'South Africa remains gravely concerned at the deteriorating peace and security situation in the Middle East,' President Cyril Ramaphosa told fellow leaders during his opening statement Sunday in Rio de Janeiro.
'The recent attacks by Israel and the United States on the Islamic Republic of Iran raise serious concerns of international law, including the principles of sovereignty, territorial integrity and the protection of civilians.'
Defence spending and tariffs
Brics leaders additionally 'express alarm' at the current trend of 'a critical increase in global military spending.'
That's another clash with Trump's demand that Nato countries raise defence spending to 5 per cent of gross domestic product, a request that was met at last month's summit of alliance members in The Hague with a particular focus on facing down aggression by Russia, a founding Brics member.
Brics leaders also expressed 'serious concerns' about the rise of unilateral tariff and non-tariff measures, which distort trade and are inconsistent with WTO rules,' again without mentioning the US.
Brazilian President Luiz Inacio Lula da Silva, who is hosting the two-day summit, opened Sunday's session by reiterating the group's longstanding calls to reform the Security Council to make it more representative of the Global South.
The Brics bloc, named for Brazil, Russia, India, China and South Africa, recently expanded to add Indonesia, Ethiopia, the United Arab Emirates, Iran and Egypt as members, an effort to increase its clout in global affairs long dominated by Washington and the West.
'Brics is increasingly shaping global debates on development, multipolar governance and security matters,' Mr Ramaphosa said in his remarks. 'We must continue to advocate for the urgent intensification of diplomatic efforts to de-escalate tensions and ensure sustainable and lasting peace.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The National
32 minutes ago
- The National
Brazilian President urges Brics nations to lead on climate fight ahead of Cop30
Brazil's President Luiz Inacio Lula da Silva has called on fellow Brics nations to usher in a new era of climate and health justice ahead of Cop30, which his country will host in Belem in November. In a speech on the final day of the Brics Summit in Rio de Janeiro, Lula highlighted the urgency of global action to address inequality, climate change, and public health, and warned that the most vulnerable nations risk paying the highest price for inaction. He criticised wealthy nations and global markets for failing to deliver on promises made at last year's Cop29 in Azerbaijan to pledge at least $300 billion a year to address the impact of climate change. 'Developing countries are likely to be the most impacted by losses and damages from climate change,' Lula told Brics leaders. He said the challenge now is not just to reduce emissions but to 'build a new cycle of prosperity' that leaves no one behind. Eighty per cent of global carbon emissions, he said, are generated by fewer than 60 companies, most of them in oil and gas. 'The planet cannot afford another decade of delay,' he warned. With Cop30 on the horizon, Lula framed Brazil's presidency as a pivotal opportunity to 'place life at the centre of development.' His remarks were welcomed by environmental groups including Greenpeace, which urged Brics nations to 'step up as champions for climate justice and nature protection'. The founding Brics nations were Brazil, Russia, India, China and South Africa. The UAE was invited to join an expanded bloc in August 2023 along with Saudi Arabia, Egypt, Iran, Indonesia and Ethiopia. The UAE joined Brics in January 2024. UAE Consensus to lead the way Lula said the UAE Consensus should be the basis for sustaining implementation actions. The agreement, made at Cop28 in Dubai, calls for 'transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner … so as to achieve net zero by 2050, in keeping with the science'. A delegation from the UAE also took part in the annual two day meeting of the board of governors of the New Development Bank of the Brics group, the state news agency Wam reported. The UAE's membership of the Brics group is part of its commitment to dialogue and multilateral co-operation to promote peace, security and development through networks that represent emerging economies on the world stage.

Zawya
an hour ago
- Zawya
South Africa: Justice Committee Chairperson Says Justice Prevails in Sindiso Magaqa Murder Case
The Portfolio Committee on Justice and Constitutional Development, Mr Xola Nqola, welcomed the sentence of long-term imprisonment for the man who was found guilty of murdering ANCYL secretary-general Mr Sindiso Magaqa, a former ANC Youth League Secretary-General and dedicated public servant. Mr Nqola said the conviction and the 25-year sentence mark a significant moment for the rule of law in South Africa and reinforces our collective belief that justice must be served — regardless of time, influence or status. Mr Ncengwa admitted that he was one of a group of men who were paid R120 000 to kill Mr Magaqa in 2017. Mr Ncengwa also implicated in the crime former city manager of the Umzimkhulu municipality Mr Zweliphansi Skhosana; the ex-mayor, Mr Mluleki Ndobe, who has since passed on, and former journalist and eThekwini municipality communications manager Mr Mdu Ncalane. Mr Magaqa was a passionate advocate for youth empowerment and integrity in public service. His untimely death was not only a loss to his family and community but to the nation. Mr Nqola said the committee commends the investigative and prosecutorial teams for their persistence in pursuing this complex case and hopes that this outcome brings some measure of closure to Mr Magaqa's loved ones. 'We urge continued support for law enforcement and the judiciary in their efforts to address politically motivated crimes and protect all who serve the public. South Africa's democracy depends on the assurance that no one is above the law,' Mr Nqola said. Distributed by APO Group on behalf of Republic of South Africa: The Parliament.


Khaleej Times
an hour ago
- Khaleej Times
Led by ADIB, UAE banks surge ahead with region's fastest market cap growth
The UAE's banking sector is powering ahead with added momentum, recording the highest quarter-on-quarter increase in market capitalisation among lenders across the Middle East and Africa in the second quarter of 2025, according to S&P Global Market Intelligence. Riding a wave of economic resilience, regulatory support, and strategic innovation, the sector is emerging as a beacon of strength and stability in an otherwise mixed regional banking landscape. Leading this remarkable performance is Abu Dhabi Islamic Bank (ADIB), which posted a 34 per cent surge in market value to reach $21.26 billion by the end of June. This leap pushed ADIB three spots higher in S&P's ranking of 20 regional banks, underlining its growing investor appeal and operational robustness. The bank's strong performance was driven by a string of innovative initiatives, including a partnership with Binghatti Holding to offer Shariah-compliant real estate finance and the launch of the UAE's first fractional sukuk investment platform, allowing retail participation with as little as $1,000 — significantly lowering the traditional entry barrier of $200,000. ADIB's fundamentals remain equally compelling. The bank reported an 18 per cent year-on-year increase in net profit for the first quarter to Dh1.9 billion, powered by sustained customer growth, a solid balance sheet, and growing business momentum. Its return on average equity stood at 23.5 per cent in 2024, making it the second-best performing lender in the region. With a net interest margin of 3.88 per cent and an efficiency ratio of 29.58 per cent, ADIB continues to outperform peers in both profitability and cost management. Other major Emirati banks also posted impressive gains in market value. First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, and Dubai Islamic Bank each reported double-digit growth in the second quarter. S&P attributed this collective uptrend to the UAE government's broad-based economic and social reforms, which have contributed to a reduction in credit risk and improved investor confidence. These reforms include financial market liberalisation, strategic investment in digital infrastructure, and a renewed push for economic diversification beyond oil. The UAE banking system's strong capital buffers and robust regulatory framework have positioned it well to weather external headwinds, including geopolitical tensions and fluctuations in oil prices. The Central Bank of the UAE recently reported that sector-wide capital adequacy stood at 17.8 per cent as of March 2025, comfortably above Basel III requirements, while the non-performing loan ratio declined to 5.1 per cent from 5.6 per cent a year earlier. S&P also noted that Israeli banks recorded strong second-quarter gains, despite geopolitical uncertainty linked to tensions with Iran. Mizrahi Tefahot Bank posted a market cap increase of 31.9 per cent to $16.89 billion, making its debut in the top-20 list. Bank Leumi and Bank Hapoalim followed closely, with respective gains of 25.2 per cent and 28.5 per cent. All three reported higher net profits in the first quarter, supported by sustained government backing, low non-performing loans, and stable asset quality. The Israeli banking sector achieved a near-record return on equity of about 15 per cent, according to S&P Ratings. In contrast, Saudi Arabia's banking giants saw a sharp reversal in fortunes. Despite Al Rajhi Bank and Saudi National Bank holding onto their top two spots in terms of market value — at $100.89 billion and $57.27 billion respectively — several other lenders in the Kingdom posted significant declines. Riyad Bank tumbled five places in the ranking following a 12.8 per cent drop in market cap, the steepest fall among the 20 banks surveyed. Alinma Bank and Saudi Awwal Bank also lost ground, shedding 12.6 per cent and 10.1 per cent respectively. Analysts attribute this underperformance to investor concerns over slowing credit demand, weaker quarterly earnings, and potential impacts from prolonged oil price volatility. Despite these divergent trends, the collective market capitalisation of the sampled banks reached $643.48 billion by the end of June 2025, underscoring the scale and dynamism of the region's financial institutions. Financial analysts said the outlook for UAE banks remains upbeat. The International Monetary Fund, in its latest Article IV consultation, projected the UAE's non-oil GDP to grow by over 5 per cent in 2025, with the banking sector playing a pivotal role in funding new ventures, green energy projects, and digital transformation. Fitch Ratings recently affirmed a stable outlook for the UAE's banking sector, highlighting ample liquidity, strong capitalisation, and an improving operating environment as key strengths.