عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Russia’s Putin Discusses Bilateral Ties, BRICS with India’s Modi in Phone Call

India's Prime Minister Narendra Modi greets as he leaves after attending the third day of the three-day B20 Summit in New Delhi on August 27, 2023. (AFP)
India's Prime Minister Narendra Modi greets as he leaves after attending the third day of the three-day B20 Summit in New Delhi on August 27, 2023. (AFP)
TT
TT

Russia’s Putin Discusses Bilateral Ties, BRICS with India’s Modi in Phone Call

India's Prime Minister Narendra Modi greets as he leaves after attending the third day of the three-day B20 Summit in New Delhi on August 27, 2023. (AFP)
India's Prime Minister Narendra Modi greets as he leaves after attending the third day of the three-day B20 Summit in New Delhi on August 27, 2023. (AFP)

Russian President Vladimir Putin discussed bilateral ties including trade, energy and space cooperation with Indian Prime Minister Narendra Modi by phone, the Kremlin said on Monday.

The two leaders also discussed the planned expansion of the BRICS group of emerging economies - comprising India, Russia, China, Brazil and South Africa - as well as a summit of the G20 club of major economies that New Delhi will host next month.

Russia has sought to further strengthen already warm ties with India after its invasion of Ukraine in February 2022 triggered sweeping Western sanctions on Moscow. India is a major buyer of Russian oil.

"Topical issues of Russian-Indian relations, which are progressively developing in the spirit of a particularly privileged strategic partnership, were considered (in the call)," the Kremlin said in a statement.

"The positive dynamics of trade and economic cooperation was affirmed," it added.

Last week Modi and Putin both took part in the BRICS summit in South Africa, though the Russian leader attended only via video link because of an International Criminal Court (ICC) arrest warrant for him over alleged war crimes in Ukraine.

The Kremlin, which strongly denies the ICC allegations, has said Putin will also not attend the G20 gathering in India.

Both Russia and India launched lunar probes this month, but only the Indian one landed successfully on the moon while the Russian craft crashed.

Most Viewed

 
 
Business

Future Investment Initiative Conference Gathers Global Decision-Makers in Riyadh

One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)
One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)
TT
TT

Future Investment Initiative Conference Gathers Global Decision-Makers in Riyadh

One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)
One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)

Under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, Riyadh is set to launch the eighth edition of the Future Investment Initiative (FII) conference on Monday.
This year’s event carries the theme, “Infinite Horizons... Investing Today, Shaping Tomorrow” and will feature prominent figures in finance, investment, and technology.
Through its annual conference, often called the “Davos of the Desert,” the Future Investment Initiative aims to foster discussions on how investment can drive a prosperous and sustainable future, expanding the possibilities for humanity.
The conference is expected to attract over 7,000 guests and 500 speakers, covering a wide range of current topics across more than 200 sessions. Key areas of focus include economic stability, equitable development, climate change, artificial intelligence, innovation, health, and geopolitical issues.
Among those looking to leverage projects aligned with Saudi Arabia’s Vision 2030 are David Solomon of Goldman Sachs, Jane Fraser of Citigroup, and Larry Fink of BlackRock, which recently agreed to establish a multi-asset investment platform in Riyadh, backed by a $5 billion investment from Saudi Arabia’s sovereign wealth fund. This year, the conference will also host the New Africa Summit, featuring speakers from Africa’s mining and banking sectors.
Reflecting Saudi Arabia’s emphasis on technology and artificial intelligence, industry leaders in these fields will participate in the event. Notably, Alphabet President Ruth Porat, TikTok CEO Shou Zi Chew, and tech entrepreneur Benjamin Horowitz, co-founder of the venture capital firm Andreessen Horowitz, are scheduled to speak for the first time.
According to Richard Attias, CEO of the Future Investment Initiative, executives worldwide are expected to announce deals exceeding $28 billion. Some of these initiatives will focus on artificial intelligence, including a new potential fund with Andreessen Horowitz that could grow to $40 billion, as reported by Bloomberg.
The Kingdom is also expected to announce a new company that will invest at least $10 billion in making Saudi Arabia the world’s largest producer of hydrogen—a low-carbon fuel critical for the global transition away from fossil fuels. Key speakers from Asia will include Hong Kong’s Financial Secretary Paul Chan and Belt and Road Commissioner Nicholas Ho.
On the eve of the event, Swiss entrepreneur and FII participant Stephan Knuser told Asharq Al-Awsat that the conference will provide significant business insights for both local and international communities, anticipating that new partnerships will form between Swiss and Saudi companies in energy-efficient technologies and food security.
Neil Bush, Chairman of Sky Towers, remarked: “We view FII as not only a driver for attracting capital but also for bringing in technologies that accelerate Saudi Arabia’s goals.” According to Bush, the FII topics align with needs like business registration processes, free trade zone policies, and strategies for developing industrial complexes, which will help accelerate Vision 2030 goals, including carbon reduction.