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May 22, 2023 08:40 AM IST BRICS is due to play a key role in oil politics with six crude producing nations including Saudi Arabia seeking its membership. This is among the efforts being made to reduce US influence in world affairs with China and Russia playing a key role. Efforts include an attempt to create a BRICS currency to ditch the US dollar
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April 25, 2023 06:55 AM IST The emerging-markets bloc of Brazil, Russia, India, China and South Africa will meet in Cape Town on June 2-3 to discuss its enlargement, Anil Sooklal, South Africa’s ambassador to the group, said in an interview in the city on Monday.
- April 19, 2023 04:35 PM IST
Global headline inflation is set to fall from 8.7 percent in 2022 to 7.0 percent in 2023 on the back of lower commodity prices, but underlying (core) inflation is likely to decline more slowly. Inflation’s return to target is unlikely before 2025 in most cases.
- December 05, 2022 01:36 PM IST
The sensible thing for India to do is to keep buying Russian crude, set up a BRICS Re to offer reinsurance to those who insure the safe passage of Russian crude without price caps to wherever it is welcome, and to keep engaging both sides in the Ukraine war
- October 05, 2022 02:20 PM IST
The currency market is seeing turbulent times, especially in the backdrop of the Russia-Ukraine war and tighter fiscal actions by the US Fed. Hence, the BRICS’ launch of a new global reserve currency is seen as a move to reduce the dependence on the dollar and the euro.
- October 04, 2022 09:27 AM IST
The reserve currency will be based on a basket of the currencies of the five-nation bloc.
- September 02, 2022 12:24 PM IST
The BRICS countries – led by Russia and China, have set course to bring about a global financial currency system of their own for their vested interests
- June 29, 2022 10:59 AM IST
The G7 knows that global green transition and SDG targets cannot be achieved without India. For its ambitions, India needs G7 investment, technology, and green finance
- June 28, 2022 03:15 PM IST
The term BRIC was coined by Goldman Sachs economist Jim O'Neill in 2001 to describe the startling rise of Brazil, Russia, India, China. The BRIC powers had their first summit in 2009 in Russia. South Africa joined in 2010.
- June 28, 2022 06:18 AM IST
Iran's membership in the BRICS group, which includes Brazil, Russia, India, China and South Africa, "would result in added values for both sides," Iran's Foreign Ministry spokesperson said.
- June 27, 2022 08:37 AM IST
India prevailed on BRICS countries to avoid taking an anti-West stance. It is significant that China and Russia went along.
- June 23, 2022 11:11 PM IST
On Thursday, the BRICS nations issued a resounding denunciation of terrorism in all of its manifestations, including terrorists' cross-border travel, terrorism financing networks, and safe havens.
- June 23, 2022 11:01 PM IST
The presidents of the BRICS nations—Brazil, Russia, India, China, and South Africa—said on Thursday that they will keep talking about whether or not to allow new nations to join the club of five on the basis of "complete consultation and consensus."
- June 23, 2022 09:26 PM IST
In an apparent allusion to the US and its Western allies, Russian President Vladimir Putin said on Thursday that the BRICS countries' cooperation in creating a multipolar world is more important than ever.
- June 23, 2022 09:17 PM IST
The COVID-19 pandemic's negative impacts on the world economy are still evident, and cooperation among the BRICS countries can be a valuable part of its recovery, Prime Minister Narendra Modi said on Thursday during a virtual summit of the five-nation alliance hosted by China.
- June 23, 2022 06:38 PM IST
The Prime Minister said this in his opening remarks at the virtual BRICS annual summit in presence of Chinese President Xi Jinping, Russian President Vladimir Putin and top leaders of Brazil and South Africa. The summit is being hosted by China as the Chair for this year.
- June 23, 2022 05:00 PM IST
With a capital of $100 billion, the BRICS Contingency Reserve Agreement is touted to be a possible alternative to the US Fed’s Foreign Currency Liquidity Swap Lines, acting as a liquidity manager for BRICS nations
- June 22, 2022 09:28 PM IST
According to Prime Minister Narendra Modi, the Indian economy will grow by 7.5% this year, making it the major country with the quickest rate of growth.
- June 22, 2022 09:18 PM IST
Chinese President Xi Jinping warned against "expanding" military ties on Wednesday in a speech ahead of a virtual summit with top leaders from Russia, India, Brazil and South Africa.
- June 22, 2022 05:48 PM IST
History has shown that hegemony, group politics and bloc confrontations bring neither peace nor stability, but rather war and conflict, President Xi said in a keynote speech.
- June 22, 2022 07:05 AM IST
The virtual event, which Beijing is hosting this week, is set to bring together Xi, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, South Africa’s Cyril Ramaphosa and Brazil’s Jair Bolsonaro.
- June 16, 2022 11:35 AM IST
National Security Advisor Ajit Doval on Wednesday attended via video link the 12th Meeting of BRICS (Brazil, Russia, India, China and South Africa) National Security Advisers and High Representatives on National Security.
- May 20, 2022 07:23 PM IST
Working in close coordination with the NDB Headquarters, the Indian Regional Office will focus on project origination
- May 19, 2022 08:12 PM IST
In his remarks at the BRICS Foreign Ministers' Meeting, External Affairs Minister S Jaishankar also said that the grouping must display "zero tolerance for terrorism, especially cross-border terrorism", in an apparent reference to Pakistan.
- May 12, 2022 04:28 PM IST
BRICS could have been a bloc, while managing certain contradictions, and worked seamlessly with the rest of the world. But the western dominance on international finance and trade is so huge that even a group such as BRICS is waking up to the reality of not getting its house in order in time
