Latest news with #BRICSNewDevelopmentBank
United News of India
08-07-2025
- Business
- United News of India
PM Modi meets Chilean President Boric-Font, NDB president Rousseff, UN chief Guterres
Brasilia/New Delhi, July 8 (UNI) Prime Minister Narendra Modi met with Chilean President Gabriel Boric-Font and Dilma Rousseff, president of the BRICS New Development Bank, on the sidelines of the Rio BRICS Summit. The PM also met with the UN Secretary General Antonio Guterres. In posts on X, the PM said: 'Delighted to have met President Gabriel Boric Font of Chile during the Rio BRICS Summit. India-Chile friendship is getting stronger and stronger!' This is their second meeting since April as the Chilean President had come to India on a five-day state visit, at the head of a high-level delegation comprising ministers, parliament members, senior officials, business representatives, and prominent Chileans involved in the India-Chile cultural exchange. The delegation also visited Agra, Mumbai, and Bengaluru. On his meeting with the NDB president and former president of Brazil, the PM posted on X: 'Productive interaction with Dilma Rousseff, President of the New Development Bank and former President of Brazil.' The PM also met the UN chief Guterres. 'Interacted with Mr. António Guterres, @UN Secretary General, on the sidelines of the BRICS Summit in Rio de Janeiro yesterday,' he posted on X. UNI RN
Daily News Egypt
07-07-2025
- Business
- Daily News Egypt
Egypt calls for stronger central bank cooperation, local currency use at BRICS summit
Egypt called on BRICS nations to strengthen cooperation between their central banks and push forward with enabling financial settlements in local currencies, its prime minister said at a summit session in Rio de Janeiro. Speaking on behalf of President Abdel Fattah Al-Sisi, Prime Minister Mostafa Madbouly said the world was suffering from complex crises and a decline in multilateralism, and that BRICS countries should bolster their financial and economic ties to face these challenges. 'We must enhance cooperation between the central banks of the BRICS countries and advance our efforts in enabling financial settlements in local currencies, in line with the BRICS cross-border payments initiative,' Madbouly told a session titled 'Enhancing Multilateralism, Economic and Financial Affairs, and Artificial Intelligence.' Madbouly stated that the world is experiencing a decline in the effectiveness of the international system, while developing countries are suffering from rising debt service burdens, inflation, and difficulty in accessing concessional financing for infrastructure projects. 'This situation has been further complicated by geopolitical tensions and conflicts, especially in the Middle East, which has resulted in other challenges such as illegal immigration and the displacement of populations,' he said. Madbouly said that Egypt believes in the need to strengthen the multilateral system, with the United Nations at its core, and highlighted several priorities for the BRICS group. He noted that the development finance gap for developing countries has exceeded $4 trillion annually and stressed the role of the BRICS New Development Bank (NDB) in providing concessional financing, particularly in local currencies. The prime minister also emphasised the important role of the private sector and the need to enhance links between businesses in BRICS countries and partner nations to implement joint projects in energy, manufacturing, and agriculture. On technology, Madbouly said Egypt welcomed the Brazilian presidency's efforts in drafting the 'BRICS Leaders' Declaration on Global Governance of Artificial Intelligence,' calling it a solid foundation for cooperation. He said BRICS nations need to formulate an effective roadmap for knowledge and technology transfer, as well as capacity building in advanced and emerging technologies, especially AI. In his closing remarks, the prime minister reiterated Egypt's full commitment to enhancing joint cooperation with BRICS member states to achieve their common goals.
India.com
07-07-2025
- Business
- India.com
PM Modi Bats For Multilateral Reform, Global South Empowerment At BRICS, In Brazil
New Delhi: Prime Minister Narendra Modi on Sunday addressed the BRICS Summit plenary session in Brazil, laying out a bold roadmap to reform multilateral systems, build resilient economies, and responsibly harness the power of Artificial Intelligence. The session, themed 'Strengthening Multilateralism, Economic-Financial Affairs, and Artificial Intelligence', brought together leaders from the BRICS bloc amid growing global instability and rising expectations from the Global South. The address comes as part of PM Modi's ambitious five-nation diplomatic outreach, which began in Ghana, continued through Trinidad and Tobago, and Argentina, and now brings him to Brazil for the BRICS Summit. His final stop will be in Namibia. The tour reflects India's deepening engagement with the Global South and its strategic role in multilateral forums. Addressed the BRICS Summit Plenary session on 'Strengthening Multilateralism, Economic-Financial Affairs, and Artificial Intelligence.' Focused on how to make the BRICS platform even more effective in this increasingly multipolar world. Also gave a few suggestions which are… — Narendra Modi (@narendramodi) July 7, 2025 'I focused on how to make the BRICS platform even more effective in this increasingly multipolar world. Also gave a few suggestions which are explained in the thread below,' the Prime Minister said, outlining four core proposals for BRICS cooperation. PM Modi first underscored the need for internal reforms within BRICS nations to enhance their global credibility. 'First, I emphasized improving our systems so that our credibility is boosted when we call for reformed multilateralism,' he said. Highlighting the progress made through the BRICS New Development Bank (NDB), Modi stressed the need for smarter financing: 'While sanctioning projects through the BRICS NDB, there must be a focus on demand-driven decision-making, long-term financial sustainability, and maintaining a healthy credit rating.' The Prime Minister stressed that BRICS must rise to meet the expectations of developing nations that see the bloc as a voice for fairness and opportunity. 'Second, we can work together to fulfill specific expectations and aspirations that nations of the Global South can have from BRICS.' Modi urged the bloc to directly address the needs of the Global South, with India leading by example. 'We can work together to fulfill specific expectations and aspirations nations of the Global South can have from BRICS,' he said. He cited India's leadership in launching the BRICS Agricultural Research Platform, which facilitates knowledge sharing in agri-biotech, climate adaptation, and precision farming. 'I also proposed creating a BRICS Science and Research Repository that can also benefit the countries of the Global South,' he added. Turning to economic resilience, Modi called for a united front to safeguard key global supply chains. 'We must focus on securing and making their supply chains resilient. It must also be ensured that no country uses these resources solely for its interests or as a weapon,' he cautioned. Reinforcing India's tech diplomacy, PM Modi championed the idea of AI as a force for collective human advancement. 'We in India believe in AI as a tool to enhance human values and capabilities. Guided by the mantra of 'AI for All', India is actively using AI in many sectors,' he said, adding, 'In AI governance, addressing concerns and encouraging innovation should both receive equal priority.' Concluding his remarks, Modi reminded fellow leaders of the weight of their responsibility. 'The Global South has many expectations from us. To fulfill them, we must follow the principle of 'Lead by Example.' India is fully committed to working shoulder to shoulder with all partners to achieve our shared goals,' he declared.
Daily News Egypt
02-07-2025
- Business
- Daily News Egypt
Honduras considers BRICS as part of shift towards multipolar cooperation, minister says
Honduras considers the BRICS group of nations as part of a shift towards multipolar cooperation and may apply for full membership in the future, the country's minister of strategic planning said. Speaking at the St. Petersburg International Economic Forum (SPIEF) 2025, Ricardo Salgado Bonilla said the country has a growing interest in global platforms that promote inclusive and equitable cooperation. He said the forum, held under the motto 'Common Values – the Basis for Growth in a Multipolar World,' offers an environment 'that is inclusive, where we can talk about our expectations with people who are interested in investment.' In an exclusive commentary, the minister discussed Honduras' recent application to join the BRICS New Development Bank (NDB), framing it as a step towards broader international cooperation. 'So for us it's a big step to take a look at the world to go and ask for being a part of this new bank, and, why not in the coming future also applying for a membership in BRICS,' he said at the TV BRICS studio in the Roscongress International Cooperation Area. Honduran President Xiomara Castro submitted an official request for the country to join the New Development Bank of BRICS during her visit to China in June 2023.
See - Sada Elbalad
23-06-2025
- Business
- See - Sada Elbalad
Honduras Considers BRICS as Part of Shift Towards Multipolar Cooperation
Yara Sameh At the St. Petersburg International Economic Forum (SPIEF) 2025, representatives from different countries gathered under the motto "Common Values – the Basis for Growth in a Multipolar World", according to TV BRICS. Among them is Ricardo Salgado Bonilla, Minister of Strategic Planning of the Republic of Honduras. He spoke about the country's growing interest in global platforms that promote inclusive and equitable cooperation in an exclusive commentary at the TV BRICS studio in the Roscongress International Cooperation Area at St. Petersburg International Economic Forum ( SPIEF) 2025. Minister of Strategic Planning said that SPIEF offers environment 'that is inclusive, where we can talk about our expectations with people who are interested in investment.' The official also discussed Honduras' recent application to join the BRICS New Development Bank (NDB), framing it as a step towards broader international cooperation. "So for us it's a big step to take a look at the world to go and ask for being a part of this new bank, and, why not in the coming future also applying for a membership in BRICS," he said. Honduran President Xiomara Castro submitted an official request to join the New Development Bank of BRICS during her visit to China in June 2023. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
