Latest news with #Mercosur
Euronews
7 hours ago
- Politics
- Euronews
Spain's Sánchez urges Latin American leaders to combat far-right rise
Spanish Prime Minister Pedro Sánchez began a tour of Latin America in Chile on Monday, which included participation in an international forum on the defence of democracy and meetings related to promoting the agreement between the EU and Mercosur. Government sources say the trip is part of Spain's strategy to strengthen ties between the EU and Latin America. Speaking at the Democracia Siempre ("Democracy Always") forum organised by Chilean President Gabriel Boric, Sánchez called on progressive leaders in Latin America to "step forward" and "go on the offensive" against the rise of the far right. The Spanish leader warned that democracy is threatened by a "coalition of interests between oligarchs and the far right," which, he noted, represents a "real threat" in both the Americas and Europe. Sánchez denounced "international hate and lies" which he said is spreading across both continents and described it as a "moral duty" to defend democratic values on all fronts. As the primary course of action, Sánchez proposed strengthening democratic institutions, combating disinformation and reducing inequality. He also announced that Spain will host the next edition of the summit in 2025, which this year took place in Santiago. Chilean leader Boric said that modern threats to democracy were not limited to military force, but include more subtle elements. He said this includes misinformation, extremism, corruption and inequality. Brazilian President Luiz Inácio Lula da Silva at the forum urged progressive governments to respond "with concrete and urgent actions" as they are faced with a "new anti-democratic offensive." Colombian President Gustavo Petro emphasised that the leaders gathered at the forum had deepened their understanding of key challenges such as the climatic crisis, artificial intelligence, world peace and the defence of democracy and freedom. At the forum, the Latin American leaders and Sánchez also met with invited experts, including American economist and Nobel laureate Joseph Stiglitz, philosopher Susan Neiman and South Korean economist Ha-Joon Chang. More than 300 representatives from Chilean civil society organisations also participated. The forum's goal is to promote joint reflection on the state of democratic institutions and propose cooperative measures among participating countries. The initiative stems from a previous meeting held last year during the UN General Assembly and is promoted by Sánchez and Silva.
Euronews
13 hours ago
- Politics
- Euronews
Sánchez kicks off Latin America tour at forum on defence of democracy
Spanish Prime Minister Pedro Sánchez began a tour of Latin America in Chile on Monday, which included participation in an international forum on the defence of democracy and meetings related to promoting the agreement between the EU and Mercosur. Government sources say the trip is part of Spain's strategy to strengthen ties between the EU and Latin America. Speaking at the 'Democracia Siempre' forum organised by Chilean President Gabriel Boric, Sánchez called on progressive leaders in Latin America to "step forward" and "go on the offensive" against the rise of the far right. The Spanish leader warned that democracy is threatened by a "coalition of interests between oligarchs and the far right," which, he noted, represents a "real threat" in both the Americas and Europe. Sánchez denounced "international hate and lies" which he said is spreading across both continents and described it as a "moral duty" to defend democratic values on all fronts. As the primary course of action, Sánchez proposed strengthening democratic institutions, combating disinformation and reducing inequality. He also announced that Spain will host the next edition of the summit in 2025, which this year took place in Santiago, Chile. Chilean leader Boric said that modern threats to democracy were not limited to military force, but include more subtle elements. He said this includes misinformation, extremism, corruption and inequality. Brazilian President Luiz Inácio Lula da Silva at the forum urged progressive governments to respond "with concrete and urgent actions" as they are faced with a "new anti-democratic offensive." Colombian President Gustavo Petro empathised that the leaders gathered at the forum had deepened their understanding on key challenges such as the climatic crisis, artificial intelligence, world peace and the defence of democracy and freedom. At the forum, the Latin American leaders and Sánchez also met with invited experts including American economist and Nobel laureate Joseph Stiglitz, philosopher Susan Neiman and South Korean economist Ha-Joon Chang. More than 300 representatives of Chilean civil society organisations also took part. The forum's goal is to promote joint reflection on the state of democratic institutions and propose cooperative measures among participating countries. The initiative stems from a previous meeting held last year during the UN General Assembly and is promoted by Sánchez and Silva.
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Business Standard
2 days ago
- Business
- Business Standard
Latin America trade negotiations: India wary of China's growing influence
China's growing influence in the Latin American region raises concerns New Delhi Listen to This Article As India prepares for trade negotiations with Chile, Peru and the Mercosur bloc, officials in New Delhi are approaching the discussions with caution, amid China's growing influence in the Latin American region and suspicious market access in the past. 'We need to have strong firewalls and need to be very careful. We don't want a repeat of what happened in the case of India's trade deal with Association of SouthEast Asian Nations (Asean) or United Arab Emirates to some extent,' a senior government official told Business Standard. India's concerns stem from China's rising presence in South America. China is among
The Market Online
4 days ago
- Business
- The Market Online
@ the Bell: Canada eyes trade expansion in the face of American tariff deadline
Canada's main stock index took a hit on Friday, supported by encouraging domestic trade developments and US economic data that pointed to continued strength. International Trade Minister Maninder Sidhu highlighted growing interest in deepening trade negotiations with Mercosur—a South American alliance that includes Brazil, Argentina, Paraguay, and Uruguay—as part of Ottawa's broader strategy to reduce reliance on US trade. Meanwhile, Prime Minister Mark Carney and his administration are engaged in discussions with US President Donald Trump, aiming to finalize a trade deal before the looming August 1 deadline, when 35 per cent tariffs are scheduled to be implemented. Earlier in the week, Carney introduced a steel tariff rate quota to shield Canada's steel sector. On Wall Street, markets were mixed though losses were mitigated by strong earnings reports from major banks and tech firms. The Canadian dollar traded for 72.86 cents US compared to 72.76 cents US on Thursday. US crude futures traded $0.12 lower at US$67.42 a barrel, and the Brent contract lost $0.20 to US$69.32 a barrel. The price of gold was up US$12.94 to US$3,353.37. In world markets, the Nikkei was down 82.08 points to ¥39,819.11, the Hang Seng was up 326.71 points to HK$24,825.66, the FTSE was up 19.48 points to ₤8,992.12, and the DAX was down 81.42 points to €24,289.51. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here .
Globe and Mail
4 days ago
- Business
- Globe and Mail
TSX Dips as End of Week Nears
Canada's main stock index was subdued on Friday, with gains in utilities offsetting declines in industrials, as investors assessed domestic trade updates and data showing economic resilience. The TSX Composite Index slipped 46.15 points by noon Friday at 27,340.78. The Canadian dollar eked higher 0.12 cents at 72.91 cents U.S. Declines on the day were led by industrial shares falling, with Air Canada dropping 71 cents, or 3.3%, to $20.80. Canadian Pacific Kansas City retreated $4.18, or 3.8%, to $106.11, and Canadian National Railway dropped $4.49, or 3.2% to $135.51. On the flip side, utility stocks rose, boosted by Capital Power, up $1.20, or 2%, to $60.33, and Transalta Corp shares adding 44 cents, or 2.6%, to $17.07. Energy stocks climbed, with Headwater Exploration better by 21 cents, or 3.1%, to $7.10, and Baytex Energy rising eight cents, or 3%, to $2.71. Among individual stocks, Transalta Corp rose 43 cents, to 2.6%, to $17.01. after brokerage Scotiabank upgraded its rating. International Trade Minister Maninder Sidhu pointed to interest in advancing trade talks with the South American bloc Mercosur, comprising Brazil, Argentina, Paraguay, and Uruguay, as Ottawa seeks to diversify its trade relations beyond the U.S. Prime Minister Mark Carney and his team are in talks with U.S. President Donald Trump to reach a trade agreement before the August 1 deadline, when 35% tariffs are set to take effect. In other trade-related news, Canada and New Zealand reached a "mutually satisfactory" resolution to a long-term dispute over dairy product access, which will allow for better access to the Canadian market, Ottawa said on Thursday. Trump has previously criticized high Canadian tariffs on dairy products. Earlier this week, Carney introduced a steel tariff rate quota in a bid to protect the domestic steel industry. China's Commerce Ministry urged Ottawa on Friday to drop the restrictions while threatening countermeasures. ON BAYSTREET The TSX Venture Exchange gained 7.1 points to 798.76. Nine of the 12 TSX subgroups were lower, with telecoms off 1.3%, industrials descending 1.1%, and consumer discretionary stocks down 0.8%. The three gainers were consumer staples, better 0.8%, while utilities acquired 0.4%, and energy, up 0.2%. ON WALLSTREET The S&P 500 scaled to an all-time high Friday before easing from those levels, as traders pored through the latest earnings reports and new U.S. economic data. The Dow Jones Industrials stumbled 238.57 points to pause for lunch at 44,245.92. A 3% post-earnings slide in American Express dragged the 30-stock average lower. The much-broader index slid 7.51 points to 6,289.88. The NASDAQ Composite capsized 18.72 points to 20,865.93. Data released Friday reflected a drop in consumers' fears about tariff-induced inflation down to their lowest levels since February. The University of Michigan's Survey of Consumers for July reflected overall consumer sentiment rose 1.8% from June to 61.8, coming out exactly in line with the estimate and at the highest level since February. Major U.S. stock indexes are heading towards a winning week, lifted by data releases pointing to a strong U.S. economy and a slew of better-than-expected corporate earnings results. The S&P 500 is up 0.8% this week, while the NASDAQ has moved up 1.8%, and Dow has advanced 0.2%. About 60 S&P 500 companies have posted second-quarter results thus far. Of those, 86% have beaten analyst expectations. On Thursday, PepsiCo and United Airlines shares both popped after the respective companies beat analyst estimates on earnings. Those follow solid results from big banks like JPMorgan and Goldman Sachs earlier in the week. Shares of Netflix slid 4%, despite posting an earnings beat on Thursday. Shares of 3M were also down slightly even after the company exceeded analysts' estimates on top and bottom lines. Prices for the 10-year treasury climbed, pushing yields down to 4.42% from Thursday's 4.46%. Treasury prices and yields move in opposite directions. Oil prices lost five cents to $67.49 U.S. a barrel.
