Latest news with #SantiagoPeña
Bloomberg
a day ago
- Politics
- Bloomberg
Paraguay's President Deletes Bitcoin Post in Likely Crypto Scam
Paraguayan President Santiago Peña deleted a post on his X account after a likely hack by crypto scammers who claimed the South American nation had approved Bitcoin as legal tender. Calling a post sent Monday afternoon under Peña's name 'false,' the presidency said on X that his account saw 'irregular' activity indicating 'a possible unauthorized access.' Paraguay's cybersecurity agency was working with the social media platform to clarify what happened.
Hindustan Times
3 days ago
- Business
- Hindustan Times
What more to expect from Paraguayan President's visit
A lot can happen over a maiden visit of a State leader. Paraguayan President Santiago Peña's three day long maiden visit to India from June 2- 4 presents a momentum in turning point in the ties of New Delhi and Asuncion, the capital of the landlocked, riverine nation. An economist by degree and occupation, President Peña brings a data-driven perspective to governance, viewing society through analytical metrics not just by his political ideology and preconceived principles, drawing from office. Prior to assuming the presidency, President Pena was the finance minister and once led the Central Bank of Paraguay. President Peña's maiden visit after a brief gap of any leader's visit to India occurs at an time when China has almost no naysayers in Latin America. Paraguay is the only country in South America that maintains diplomatic relations with Taiwan. Strategically, India and Paraguay share a common outlook on supporting Taiwan's autonomy. In December, Paraguay expelled Chinese envoy Xu Wei for alleged interference in its internal affairs. During his visit to New Delhi, President Peña held comprehensive talks with Prime Minister Narendra Modi on a wide range of issues. He emphasized that Paraguay produces enough food to feed ten times its own population. The nation possesses an intimate knowledge of the soil, yet remains bereft of technological acumen. Agritech and high-tech collaboration are essential between two aspiring nations. India is a perfect match in advancing its ambition for global food security through such partnerships. Interestingly, Paraguay also produces stevia, a natural sweetener permitted in India; however, Indian importers currently rely mostly on China and the US. There is clear scope for Indian players to tap into Paraguay as a new and reliable source. Paraguay's export portfolio is traditionally reserved to the periphery, with most of its trade directed to China, Brazil, and Argentina. However, it is now actively seeking to diversify its partners. As a landlocked nation with no coastline to secure, Paraguay benefits from a relatively low defence burden. It borders Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest—all trade partners, not threats. Given its strategic central location in South America, Paraguay could serve as a valuable regional hub for India to access broader Latin American markets. Both countries are eager to strengthen and expand their existing trade links under the India-MERCOSUR Preferential Trade Agreement. However, consensus among all five MERCOSUR member states is required to expand any talks between India and MERCOSUR. Paraguay's trade with China is about $5 billion plus whereas with India time to time differs from $130 million to $470 million. India wouldn't be in a position to reach anything near that China's export but it should rapidly increase the trade volume. India's advances in IT, digitalisation, innovation, and platforms like UPI and UIDAI have drawn interest from many South American countries, including Paraguay. Paraguay has historically maintained modest defence expenditures, but recent years have seen a shift in strategy. As India begins producing AK-203 assault rifles in Uttar Pradesh in collaboration with Russia, there is growing interest in expanding defence cooperation. Paraguay may consider imports of defence and surveillance items for traditional as well as cyber threats, including Indian-manufactured small arms and police equipment. Paraguay has overcome its traumatic past marked by two wars - the War of the Triple Alliance (1864–1870) against Brazil, Argentina, and Uruguay, which resulted in the loss of a large part of its territory and left the nation devastated for decades. And the other, Chaco War against Bolivia (1932–1935). Despite being landlocked, Paraguay is crisscrossed by large rivers and generates nearly all its electricity from hydroelectric sources. The Itaipu Dam, a joint operation with Brazil, supplies about 90% of Paraguay's electricity. India's capabilities in riverine and flood data management, as well as weather prediction, could be of immense value to Paraguay's hydro-focused energy sector. Given Paraguay's extensive river systems, there may also be opportunities for India and Paraguay to exchange knowledge or develop initiatives related to riverine connectivity - benefiting from each other's experience as major riverine nations. A member of the Lima Group, Paraguay is a vocal supporter of reforming the United Nations Security Council and other multilateral institutions, including global financial systems. India, with its rich civilizational heritage and growing global influence, is well-positioned to build a deep and enduring relationship with Paraguay—one that spans not just trade, but also for a defiant advocate of multipolarity. For an economist or a social scientist, society is the largest laboratory. During his visit, President Peña has already engaged with numerous leaders and heads of institutions. He showed particular interest in the Vande Bharat trains and connectivity projects, signalling plans to explore and possibly collaborate in these areas. Paraguay, a nation of around seven million people is a vast agrarian country, with approximately 40% of its territory covered in forest. It also possesses rich mineral resources, including critical minerals such as uranium and lithium which are in demand in India. Paraguay has had its share of challenges despite being a high performer in the agriculture sector. India should come forward identifying and helping to eradicate them. With its brigade of travel influencers, India must promote the nation's civilisation-based tourism and Spanish speaking youtubers bring more visitors to India. Paraguay is dire need of applied technology especially IT. Business ties between India and Paraguay could expand beyond meat and soybean exports. Major Indian automobile companies are already present in Paraguay, but there is scope for exporting superior tech-driven mobility equipment such as two-wheelers, lifts, elevators, and goods transporters. This article is authored by Ayanangsha Maitra, journalist, Center of Geoeconomics for the Global South, UAE.
Fashion Value Chain
4 days ago
- Business
- Fashion Value Chain
Trident Explores Global Growth with Paraguay President Visit
In a significant step toward global expansion, Trident Group, one of India's leading textile and diversified manufacturing conglomerates, engaged in a high-level meeting with the President of Paraguay, Mr. Santiago Peña, during his official visit to Mumbai. The dialogue marked a critical diplomatic and commercial moment for both nations, with a focus on investment and industrial collaboration. The meeting was initiated as part of Paraguay's strategic outreach to attract Indian investments in key sectors such as textiles, chemicals, and pulp & paper industries, where Trident has demonstrated international leadership. President Peña recognized Trident's achievements in sustainable manufacturing and its potential as a transformative partner in Paraguay's industrial growth story. 'We are honored by President Peña's outreach. Paraguay's proactive vision for global partnerships is inspiring,' said Mr. Rajinder Gupta, Chairman Emeritus, Trident Group. 'Their cost-effective ecosystem and strategic access to regional markets make Paraguay a promising destination for Trident's future operations.' Paraguay offered a compelling case for Indian investment, highlighting advantages such as: Low labor and real estate costs Abundant hydroelectric energy with globally low tariffs Strategic access to Latin American markets via Mercosur membership The engagement reflects Trident's broader commitment to eco-conscious global expansion and inclusive growth, aligning with its long-standing vision of building globally integrated, sustainable enterprises. The company views Paraguay as a gateway to Latin America—with upcoming dialogues expected to define the roadmap for future partnerships. This interaction also marks a new chapter in India–Paraguay economic diplomacy, opening doors for other Indian manufacturers aiming to expand internationally with sustainability and scalability at the forefront.
India.com
7 days ago
- General
- India.com
This landlocked country is smaller than California yet operates 'largest' navy, country is..., located...
New Delhi: We understand that countries that are surrounded by the sea or connected to it have navies. The navy of such a country protects its borders. However, you might be surprised to know that there is an interesting country in the world that is landlocked on all sides but still has the 'largest' navy. Here, 'largest' means the largest among landlocked countries. Yes, that country is Paraguay, and currently, the president of Paraguay, Santiago Peña, is on a visit to India. Prime Minister Narendra Modi has met with Peña. Let's learn more about this country. This country, which has an area of 157,000 square miles, is smaller than California and is located on the South American continent. It is surrounded by Argentina, Brazil, and Bolivia on all sides. Now you might wonder how a navy operates if it is landlocked? Paraguay's navy operates through the country's rivers. The most significant among them is the Paraná River, which can be seen entering the sea near Buenos Aires on the map. Paraguay's navy operates with small vessels. Paraguay is known today as the country with the largest navy in the world that is landlocked on all sides. It has a River Defense Corps, Coast Guard, and Naval Aviation. Paraguay's navy is connected to the sea via Argentina and its rivers. The Paraguayan Navy was established in 1881 and is said to have around 5,500 personnel. In fact, there are many countries in the world that are landlocked yet maintain a navy. These include Azerbaijan, Bolivia, Kazakhstan, Laos, and Paraguay. It is said that in Paraguay, the heat is so intense that some houses do not even have doors. In such cases, people signal their arrival by clapping. The people of this country are crazy about football, with over 1,600 football teams existing there.
Al Etihad
27-05-2025
- Business
- Al Etihad
President of Paraguay meets Nahyan bin Mubarak in Abu Dhabi, discusses prospects for joint cooperation
27 May 2025 16:51 ABU DHABI (WAM) In the context of strengthening bilateral relations between the UAE and the Republic of Paraguay, Santiago Peña Palacios, President of Paraguay, met with Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, at the President's residence in Abu Dhabi during his official visit to the Nahyan bin Mubarak warmly welcomed President Santiago Peña's visit to the UAE, affirming that it reflects the deep mutual respect and sincere desire of both nations to reinforce their bilateral ties and expand cooperation across various also praised the significance of this official visit as a valuable opportunity to exchange views on global challenges and explore avenues for sustainable development, investment, and cultural the meeting, the two sides reviewed the progress of bilateral relations and commended the positive steps achieved in joint cooperation. They emphasised the importance of building upon these developments to further integrate efforts in key sectors such as agriculture, technology, renewable energy, infrastructure, education, and his part, President Santiago Peña expressed his country's great appreciation for the UAE's outstanding achievements on local, regional, and international praised the UAE's advanced development model and its vital role in promoting values of tolerance and peaceful coexistence among different cultures and Peña also expressed Paraguay's aspiration to deepen its ties with the UAE, especially given the Emirates' advanced investment environment and vast capabilities to drive sustainable development. He affirmed his country's keenness to enhance its political and economic relations with the UAE in a way that serves the mutual interests of both nations and their the meeting, both sides expressed their confidence that the relations between the UAE and Paraguay are on a steady path of growth and development, thanks to the shared political will and forward-looking vision of their respective also stressed the importance of joint action in international forums to promote humanitarian values, achieve equitable development, and strengthen security and stability at both regional and global meeting comes as part of the UAE's broader efforts to expand its diplomatic engagement with South American countries and strengthen its global network of partnerships. It also reinforces the UAE's position as a trusted international partner committed to the principles of mutual respect, constructive cooperation, and the pursuit of sustainable global development.
