Latest news with #HugoMotta
Bloomberg
3 days ago
- Business
- Bloomberg
Brazil House Speaker, Top Banks Urge Reform, Slam Tax Strategy
Scaling back corporate tax exemptions in Brazil will be top of the agenda for lawmakers when they meet with the government on Sunday night, House Speaker Hugo Motta said. The talks come as the government of President Luiz Inacio Lula da Silva tries to plug a hole in the budget with tax hikes, a strategy criticized by Motta, who was elected speaker with broad backing, and the country's top bankers.
Hans India
5 days ago
- Business
- Hans India
Lok Sabha Speaker Om Birla highlights India's resilient growth at BRICS parliamentary forum
Brasilia: Lok Sabha Speaker Om Birla on Thursday reiterated India's strong support for a fair and rule-based global trading system — one that genuinely addresses the needs and aspirations of the Global South — at 11th BRICS Parliamentary Forum in Brasilia. Addressing the working session on 'BRICS Parliamentary Action in Search of New Paths for Economic Development', Birla appreciated the Parliament of Brazil for successfully organising the event and thanked them for their hospitality. "Today, the BRICS group has emerged as a formidable force in the global economic landscape. It represents nearly 45 per cent of the population and contributes 40 per cent to the global GDP based on the purchasing power parity. Despite global challenges, BRICS nations have made inspiring progress in the realm of economic development. India believes that to further strengthen this progress, we must enhance trade investment and financial cooperation," he said. "We are concerned that representation of developing countries in key international institutions, and such imbalances hinder global equity and sustainable development. Therefore, BRICS countries must collectively make concrete efforts to enhance participation in such institutions," Birla added. The Lok Sabha Speaker emphasised that Covid-19 and other global crisis have disproportionately affected the Global South, exacerbating existing challenges in health, food, and energy security. Birla stressed that without strong, coordinated global action, achieving the Sustainable Development Goals (SDGs) will become increasingly difficult — if not impossible — for many nations. Highlighting India's economic growth Birla mentioned that despite global uncertainties and challenges, India's economic growth has been remarkable. India, he said, has consistently outperformed the global growth average as from 2014 to 2025, India's GDP has grown at an average of seven per cent, making it the fastest growing major economy in the world. "India is not only the world's largest and most vibrant democracy but also a nation with a stable government with strong institutions, based on the rule of law, and which is transparent and accountable. Under the leadership of Prime Minister Narendra Modi, India has made remarkable progress across various sectors," he mentioned. Birla highlighted that India considers the BRICS Parliamentary Forum a highly important platform where, through joint efforts and dialogue, a new definition of economic development can be shaped. On the sidelines of the parliamentary forum, the Lok Sabha Speaker also engaged in a meaningful interaction with Hugo Motta, President of the Chamber of Deputies of Brazil, conveying India's unwavering unified resolve to counter terrorism. "Held a warm and constructive bilateral meeting with Hugo Motta, President of the Chamber of Deputies of Brazil on the sidelines of the BRICS Parliamentary Forum. Emphasising that terrorism is a global threat and all nations must unite to eliminate this scourge, underscored that the complete eradication of terrorism remains India's unwavering national resolve," Birla posted on X on Thursday. "Expressed India's gratitude to President Lula for Brazil's steadfast support in our fight against terrorism. Shared insights on how India is reshaping its parliamentary democracy through inclusive representation and cutting-edge reforms. Also highlighted our fast-paced digital transformation — Indian parliamentary processes are now largely paperless. Informed that through initiatives like Digital Sansad and the use of AI, we are preserving our democratic legacy while aligning Parliament with the needs of the 21st century," he wrote in his post. Earlier, the Lok Sabha Speaker and the visiting Indian delegation was received by Ambassador of India to Brazil Dinesh Bhatia on arrival in Brasília on Wednesday. The delegation comprises Rajya Sabha Deputy Chairman Harivansh Narayan Singh, Rajya Sabha MP Surendra Singh Nagar, Lok Sabha MPs Vijay Baghel, Vivek Thakur, and Shabari Byreddy; Lok Sabha Secretary General Utpal Kumar Singh and Rajya Sabha Secretary General P.C. Mody. After its arrival, the delegation attended the inaugural ceremony of the BRICS Parliamentary Forum in Brasília, reaffirming the deep commitment of the nations to strengthen inter-parliamentary cooperation for an inclusive BRICS partnership. The 11th Brics Parliamentary Forum, scheduled from June 4- 5 in Brasilia, marked a significant step forward in consolidating inter-parliamentary cooperation between the member countries, reaffirming the commitment of the legislative branches to strengthening political dialogue, exchanging their best practices, and building a common agenda aimed at sustainable development, social justice and multilateral governance. The BRICS members include 11 nations - Brazil, Russia, India, China, South Africa, Egypt, the United Arab Emirates, Ethiopia, Iran, Indonesia, and Saudi Arabia. Earlier this year, Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda and Uzbekistan were inducted as partner countries of the BRICS.
Al Etihad
5 days ago
- Politics
- Al Etihad
UAE, Brazil discuss parliamentary cooperation
5 June 2025 13:18 BRASÍLIA (WAM)Chairman of the Committee on Defence, Interior, and Foreign Affairs in the Federal National Council (FNC), Dr Ali Rashid Al Nuaimi, met with the President of the Chamber of Deputies of the Federative Republic of Brazil, Hugo Motta, on the sidelines of the 11th BRICS Parliamentary Forum taking place in Brasí meeting focused on strengthening bilateral relations and addressing several issues of mutual sides affirmed the importance of advancing parliamentary cooperation and building on the growing momentum in the strategic partnership between the two countries, particularly in the economic and investment sectors. The meeting was attended by Sara Falaknaz, FNC member, and Saleh Al Suwaidi, UAE Ambassador to Brazil.
Bloomberg
14-05-2025
- Business
- Bloomberg
Brazil Needs Fiscal Sense to Gain From Trade War, Speaker Says
Brazil has emerged as an early winner from Donald Trump's trade war with China but needs to get its fiscal situation in order to attract investment and fully capitalize on the global upheaval, according to lower house Speaker Hugo Motta. Commodities-rich Brazil has ramped up exports of meat and other products since Trump slapped hefty tariffs on China, and President Luiz Inacio Lula da Silva inked new trade deals with Beijing this week. But deepening fiscal woes are limiting investor appetite at a time when Latin America's largest economy could be more attractive, Motta said in a Tuesday interview.
Yahoo
04-02-2025
- Business
- Yahoo
Brazil's new lower house speaker targets fiscal stability as priority
BRASILIA (Reuters) - Brazilian lower house speaker Hugo Motta said on Tuesday that the chamber will put a greater priority on the country's fiscal stability. In an interview with TV outlet GloboNews, Motta, who was elected lower house chief last Saturday, said the government needs to acknowledge that Brazil's economic situation is critical, and that a strategy for raising revenues will not work without controlling expenses. "The numbers regarding our economy are really very worrying and we know the serious consequences this can have for the Brazilian population," Motta said. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. President Luiz Inacio Lula da Silva's administration sent a spending cut package to Congress late last year, a move that led to a sell-off of Brazil's real currency after market analysts deemed the measures as insufficient to control expending. The real has regained ground this year, notching on Monday its longest streak of gains in 20 years.
