BRICS
At BRICS summit, China’s Xi urges resistance to protectionism
President Xi Jinping told an international summit today (5 September) that although the global economy had improved, risk factors had also increased.
EU says Brazil must ‘restore trust’ in meat exports
The European Union's health Commissioner said on Monday (27 March) that Brazil will have to "restore trust" in its meat exports after being hit by a scandal over expired meat being passed off as fresh.
Putin hosts BRICS summit amidst standoff with the West
Russian President Vladimir Putin is to meet world leaders today (8 July) including China's Xi Jingping and India's Narendra Modi ahead of the start of a summit of the BRICS emerging economies.
BRICS launch ‘New Development Bank’
Leaders of the BRICS emerging market nations launched a $100 billion (€73.5 billion) development bank and a currency reserve pool yesterday (15 July) in their first concrete step toward reshaping the Western-dominated international financial system.
BRICS bank project struggles with ‘difficulties’
The BRICS bloc of large, emerging economies has agreed on the structure of a proposed development bank with $50 billion (€37.8 billion) in capital, but ironing out "difficult" details may take months, Russian Deputy Finance Minister Sergei Storchak said.
BRICS countries dump the euro, establish bank
The grouping of the emerging economies – Brazil, Russia, India, China and South Africa (BRICS) – are cutting their foreign currency reserves in euro, having sold €45 billion of the currency in 2012, according to data gathered by the International Monetary Fund.
BRICS offer help to euro zone with strings attached
Major emerging nations yesterday (22 September) said they may lend money to the International Monetary Fund or other global financial bodies to increase their firepower for fighting financial crises, but they could ask for more voting powers in the IMF.