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The Latest Breaking News from G7

Aid cuts see UK fall out of top five in global development rankings

The UK had previously been the only G7 nation in the top five, but has now been overtaken by Germany and France.

The Independent UK

Summit without a declaration would have meant death for the G-20: German Ambassador

G-7 countries saved G-20 from demise with skilful Indian negotiations, Indonesia-India-Brazil-South Africa joint proposal. All countries agreed to formulation, Russia isolated. Ukraine disappointed, Germany promised more aid and support.

The Hindu

India’s moment: on the G-20 Summit outcomes

India’s hosting the G-20 Summit was successful with the Declaration statement achieving what is truly impossible in today’s global polarisation

The Hindu

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Russia targeted civilian cargo ship in Black Sea, Sunak tells MPs

Declassified UK intelligence suggests missiles were fired from a Russian Black Sea fleet missile carrier on August 24.

The Independent UK

G20 Summit: What India showed the world — and what it hid

Modi’s face and India’s diplomatic nous were on display. But from monuments to food, its diversity was denied a stage.

Al Jazeera

As Russia woos nations to support its war in Ukraine, will fault lines deepen around the globe?

Some 560 days have passed since the Russian invasion of Ukraine. We have repeatedly been reminded about the awfulness of war – the senseless waste of human life and indiscriminate misery caused by the imperial delusions of a self-interested leader.

The Conversation

G7 countries, Turkey defend climbdown on Ukraine to clinch Delhi declaration

A day after G-20 leaders adopted the Delhi declaration with significantly watered down language on Russia, G7 countries mounted a defence that the language against Russia was not weakened but was something needed to obtain consensus for G-20.

The Hindu

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Win for Global South, says Russian FM, praises India for G-20 summit statement success

In a press conference full of barbs about the G-7 and EU, that he repeatedly referred to as “the West”, Russia’s Foreign Minister Sergei Lavrov said that all G-20 declarations need a compromise.

The Hindu

Leaving Silk Road does not compromise its relations with China: Italian PM hints quitting China's BRI

On the sidelines of the G20 Summit, the Italian PM met Chinese Premier Li Qiang and shared her plan to pull out of the BRI, as per the Italian media report. Read further on Dynamite News

Dynamite News

G-20 Summit clinches New Delhi Declaration

2023 G-20 Declaration text marks climbdown by G-7 and EU, doesn’t contain direct criticism of Russia for Ukraine war; G-20 accepts membership of African Union; consensus had come about due to stand taken by Indonesia, India, Brazil and South Africa

The Hindu

Ukraine's push for NATO membership is rooted in its European past – and its future

During a recent meeting with the nation’s diplomatic corps, President Volodymyr Zelenskyy gave Ukraine’s ambassadors their marching orders for the rest of the year: Work to help secure Ukraine’s membership in the North Atlantic Treaty Organization and the European Union. Zelenskyy also told the ambassadors to focus on helping Ukraine…

The Conversation

G20 Summit: Is India breaking up with Russia?

As Putin stays in Moscow, India-Russia ties are in decline, while New Delhi’s bond with the West gets tighter.

Al Jazeera

At G-20, Japan backs India, not China, as bridge to Global South: Japanese experts

Hiroyuki Akita said that was one of the key issues for Japan in the lead-up to this year’s G-20, so much so that Fumio Kishida had invited Narendra Modi to the May meeting of the G-7 countries in Hiroshima.

The Hindu

War sanctions against Russia highlight growing divisions among the Group of 20 countries

Treasury Secretary Janet Yellen is facing growing skepticism from some leading rich and developing nations as the residual impact of sanctions against Russia is deepening divisions among the Group of 20 countries

The Independent UK

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The Guardian - UK

China signals Xi Jinping will not attend G20 summit in India

Analysts say absence could be snub to Delhi or part of apparent push by Beijing to elevate blocs not regarded as US-dominated

The Week

What went wrong with the German economy?

Europe’s largest economy is engulfed by gloom following forecasts that it will suffer the G7’s only contraction this year.

The Guardian - UK

UK’s growth is a silver lining – and the clouds suggest recession looms

The chancellor says the economy is resilient but forward-looking indicators suggest otherwise

The Hindu

G-20 Sherpas to sit for final round of pre-summit negotiations

The Sherpas and Sous Sherpas, who are the chief negotiators for the G-20 leaders, will meet from September 3 to 6.

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The Independent UK

Britain no longer an economic outlier after ‘extraordinary’ GDP upgrade by ONS

Jeremy Hunt said ‘those determined to talk down the British economy have been proved wrong’

The Conversation

Jokowi is right not to join 'BRICS' for now – but the alliance is still important for Indonesia

Indonesian President Joko “Jokowi” Widodo travelled to Johannesburg, South Africa, on August 24 to attend the 15th BRICS summit, an informal grouping of five major emerging nations: Brazil, Russia, India, China and South Africa.

The Guardian - UK

In ditching a wealth tax, Labour is rejecting growth and embracing bad economics

Rachel Reeves has tied her party’s hands and placed it on the wrong side of the argument, says Josh Ryan-Collins, an associate professor at UCL

The Guardian - UK

In a multipolar world the dollar’s dominance won’t last forever

While we shouldn’t read too much into the Brics expansion, the geopolitical landscape is shifting

The Hindu

Concrete alliance: On the BRICS grouping and its expansion

It is the promise of shared prosperity and a more democratic model of global governance that attracts the global south to BRICS

Fortune

BRICS just invited 6 nations including Saudi Arabia and Iran to join—here's why it increases the prospect of dollar replacement

The idea of creating a BRICS common currency to rival the dollar has long been on the agenda of the emerging-market nations in the bloc.

Radio France Internationale

With Brics expansion, China seeks a global counterweight to US

The five Brics countries have announced plans to add six new members to their club. Observers say the expansion is intended to make the group a stronger player in the "multi-polar world" favoured by China to counter US supremacy. Will it succeed?

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