ARGENTINA NEW PRESIDENT
Lula vs Bolsonaro: As Brazil lies on the brink of tilting right, India watches its major BRICS partner
Flávio Bolsonaro secured leading votes against incumbent Luiz Inácio Lula da Silva in Brazil's elections on October 4. The runoff on October 25 could solidify right-wing power across South America, following a regional trend. Lula aims to reduce economic inequality while Bolsonaro focuses on crime and spending cuts. India is observing the elections closely due to its strategic partnership with Brazil in various sectors.
World Bank in talks with 30-40 countries over aid to tackle Middle East energy shock
The World Bank is in talks with numerous countries to address energy price increases stemming from the Middle East crisis. While the global economy remains resilient, developing nations face growing challenges from rising diesel and fertilizer prices. The Bank anticipates more countries may access crisis funds as conditions worsen in the coming months. Recent private capital investments have surged considerably, especially in upper-middle-income and lower-middle-income countries.
India joins US, 13 economies in joint statement to address global excess capacity after G20 meeting
India, along with the United States and 13 other economies, has signed a joint statement aiming to address structural excess capacity. The participating economies emphasized the importance of eliminating non-market policies that distort economic conditions. They acknowledged the growing challenges posed by excess capacity in manufacturing sectors, which hinders market-based investments. The countries committed to cooperating and sharing information to mitigate the negative impacts on trade and jobs.
IDEA flags decline in judicial independence, free parties in India
India is currently chairing the International Institute for Democracy and Electoral Assistance, which highlights concerns about its democratic integrity. Recent reports indicate declines in judicial independence and the freedom of political parties in India. Investigations into opposition leaders ahead of the 2024 elections are raising significant concerns about political freedoms.
India's sunflower oil imports seen up 30% on duty cut, industry official says
India’s sunflower oil imports are expected to jump 30% to 3.5 million tonnes in 2026-27 after the government cut the basic import duty on crude sunflower oil to zero, making it more competitive. The shift could reduce soyoil imports by about 11%, while overall vegetable oil imports are expected to remain broadly steady at 16.5-17 million tonnes.
"It's less and less family time...": Melania Trump hints at changing relationship with her 20-year-old son Barron
Melania Trump addressed the difficulty of family time with her son Barron, citing their busy lives. During a recent appearance, she emphasized the importance of scheduling family time in advance. Barron, studying at New York University, has reportedly become more private and withdrawn lately. It’s less and less family time, [and there's] suffering because of it, Melania Trump said in an interview.
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An isolated Netanyahu was defiant at UN as he seeks reelection at home
Israeli Prime Minister Benjamin Netanyahu faced criticism during his brief visit to New York for the U.N. General Assembly. His strained relationship with U.S. President Donald Trump was evident as they did not meet. Netanyahu's security failures were a central theme ahead of upcoming elections in Israel next month.
Netanyahu expected to berate New York's Mamdani in 'campaign speech' of UN address
Benjamin Netanyahu is set to deliver a speech at the UN where he plans to address Mayor Zohran Mamdani's accusations. As Israeli elections approach, Netanyahu's campaign is perceived as increasingly desperate amidst mounting criticism of the Gaza war. He is making a brief visit to the US and is not expected to meet the US President.
Retail prices of cooking oils may fall after duty cut: Industry body IVPA
Cooking oil prices could ease after the government cut import duties on crude and refined sunflower, soybean and palm oils, industry body IVPA said. The cuts come ahead of the festive season, when demand typically rises. However, the impact on retail prices will also depend on global prices, freight, currency and domestic inventories.
US to fund $7 billion of Argentina mineral, energy projects, document shows
The US Export-Import Bank plans to provide up to $7 billion in financing for critical minerals and energy projects in Argentina, as Washington seeks greater access to the region’s resources.
Trump praises new British PM Andy Burnham but slams UK deal on Indian Ocean islands
Prime Minister Andy Burnham's first meeting with Trump focused on several critical global issues. They discussed the U.K. and U.S. differences regarding trade, the Chagos Islands, and support for Ukraine. Burnham emphasized the need for regulations on artificial intelligence amidst concerns over misinformation. He also announced military support for Saudi Arabia against Iranian threats.
India’s 30-year wait for a seat has a new twist and an old problem
European nations now support India's bid for a permanent UN Security Council seat. Prime Minister Modi stresses the urgent need for Security Council reform. Key questions involve seat allocation and regional claim resolution. The UN reform process has stalled without a negotiating text. India continues its campaign for elected terms while pursuing permanent membership.
The Other Hormuz: Black Sea blockade threatens a food supply shock
Combined Russian and Ukrainian wheat exports are estimated to end up at roughly half what they were last year for the July to September harvesting period
Charting the global economy: Fed officials raise interest rates
That marks the shortest interval between such moves since 1990, when the central bank’s rapid policy tightening played a key role in bursting Japan’s asset bubble.
US touts its power, avoids Iran war at G20 Energy meeting
United States energy ministers met in Houston, promoting domestic production and energy independence. Washington's policies aim to reverse previous approaches to renewable energy sources. The ongoing conflict in the Middle East has significantly impacted global oil prices and supply chains. The US plans to leverage Venezuela's vast oil reserves to meet growing energy demands. Analysts warn of potential European energy shortages during the upcoming winter season.
Oversight Board asks Meta not to replace fact-checking with Community Notes
Meta's Oversight Board asked the company not to replace fact-overnight Friday, after it said it was testing the crowdsourcing system in Latin America. However, Meta's Oversight Board, the quasi-independent body the company funds to review its moderation decisions, said Community Notes was not an adequate replacement for fact-checking and that the two practices serve "distinct purposes."
Pakistan wants a seat at the BRICS table. What stands in its way?
Pakistan formally applied for BRICS membership in 2023 and sought Russia’s backing, but its bid has yet to succeed. While Islamabad could count on China’s support and later bought a $580 mn stake in the BRICS-backed New Development Bank, India’s position has emerged as the key hurdle to Pakistan’s entry.
What to know about Europe's push to compete in space and what it still can't do without America
European nations convened a summit to address competition in the global space market. Concerns about reliance on foreign satellite services drive Europe's sovereign capability push. Recent events highlighted the critical need for independent space infrastructure and launch capacity. A new European rocket launch offers a promising step towards greater autonomy. Future decisions will shape Europe's role in crewed spaceflight and orbital independence.
Israel to close British consulate in Jerusalem in response to UK sanction on West Bank settlements
The United Kingdom has banned trade with Israeli settlements in the occupied West Bank. Israel responded by closing the British consulate in Jerusalem and expelling UK representatives. Foreign Secretary Ed Miliband stated settler terrorists perpetrate ethnic cleansing of Palestinians. This move signifies growing international isolation for Israel following the Gaza war. The United Kingdom also recognized Palestinian statehood last year to revive peace efforts.
FIFA accuses European body UEFA of 'smear campaign' in filing related to World Cup sell-off plan
FIFA has accused UEFA of a smear campaign regarding a failed World Cup stake sale. UEFA filed discovery requests in U.S. courts concerning FIFA President Gianni Infantino's proposal. Thrive Capital Management was involved in the $4.2 billion plan to sell World Cup stakes. FIFA withdrew the proposal after facing significant opposition and pushback. UEFA is also preparing a criminal complaint against Infantino in Swiss courts.
A national park larger than Yosemite was born after Ohio-born fashion moghul donated 725,000 acres in 1990 to save wildlife and forest
Ohio-born fashion mogul Douglas Tompkins shifted from business to conservation, beginning work to protect Chilean forests in 1992. His Tompkins Conservation eventually donated nearly 725,000 acres that became part of Pumalín National Park, which spans almost 994,000 acres, larger than Yosemite. The park protects ancient Alerce forests, diverse wildlife and dramatic Patagonian landscapes, continuing Tompkins’ mission to combat biodiversity loss.
Storm in a wine glass: As climate change and young consumers reshape the wine world, can India take advantage?
Global wine regions face climate challenges and declining demand. India's wine tourism is experiencing significant growth and expansion. Younger consumers are driving demand for sustainable and diverse wine options. Technology and new farming methods are future-proofing vineyards globally. India is poised to leverage these shifts in the evolving wine landscape.
Piyush Goyal to visit US in September for G20 trade meet, talks with USTR Greer
Commerce Minister Piyush Goyal will visit the US in late September for important trade discussions. He will attend the G20 Trade Ministerial and meet with USTR Jamieson Greer. Trade pact issues and boosting two-way commerce will be key discussion points. India seeks a comparative advantage for its goods in the US market. This visit is crucial for ongoing bilateral trade agreement negotiations.
US billionaires are piling millions into Argentina's Shale boom, here’s what is driving it
American billionaires are increasing investments in Argentina's Vaca Muerta shale basin. Harold Hamm's Continental Resources plans a $4 billion joint venture with Mercuria Energy Group. Peter Thiel's hedge fund acquired a significant stake in Vista Energy, a leading producer. These investments follow President Javier Milei's economic reforms and deregulation. Vaca Muerta's production and resource estimates have seen substantial growth.
Charting the Global Economy: UK payrolls slide, inflation rises
The latest figures show the UK labor market is faltering, with job vacancies reaching a five-year low. Inflation rates have intensified, fueled by soaring energy prices. Across the euro area, business activity showed modest growth, though France's economy continues to struggle.
Amazon to invest $2 billion in Latin American Prime Video through 2030
Amazon will invest two billion dollars in Latin American productions through 2030. This significant investment aims to harness the region's extraordinary talent and audiences. The company plans to double original productions from key Latin American countries. Twenty-five new titles will premiere in 2027 and another twenty-five in 2028. This move follows Netflix's own expansion of original Latin American content.
In 1986, a biologist with a severe stutter persuaded Belize to create the world's first jaguar preserve, then he envisioned a 5,000-mile wildlife corridor
Alan Rabinowitz transformed his struggle with a severe stutter into a powerful voice for conservation. Inspired by his childhood bond with animals, he dedicated his life to the protection of wild cats across the globe. He played a pivotal role in founding the first jaguar sanctuary and creating essential wildlife corridors, while also identifying new mammal species and establishing critical protected areas.
Brazil hits new diplomatic lows with US and Argentina
Brazil faces diplomatic friction with the United States and Argentina ahead of its elections. President Lula criticized the US visa revocation for Brazil's ambassador as irresponsible. Argentina's President Milei's insults led Brazil to recall its ambassador and downgrade ties. Brazil demands respect and rejects foreign interference in its electoral process. The nation also denied visas to US officials, citing election integrity concerns.
Donald Trump’s awkward FIFA World Cup trophy moment, stays on podium during Spain’s celebration, Gianni Infantino steps in; watch video
Spain secured their second World Cup title after defeating Argentina 1-0 in extra time. Donald Trump attended the FIFA World Cup 2026 final match and trophy ceremony. He stood with the Spanish players on the podium during their victory celebrations. Trump also presented the World Cup trophy to the victorious Spanish team. The event generated significant social media attention and discussion online.
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