Page 5 - Brics

Record household debt: Loans outpace deposits for 3rd year in a row

Debt higher than many BRICS peers, at lower per capita GDP

Key emerging market economies see rising inflation trend, shows data

China recorded an inflation figure of 0.7 per cent in February, its first increase after experiencing deflation months

Statsguru: Six charts explain India's food divide and higher inflation

A recent release of data that the United Nations Food and Agriculture Organization compiled from 28 countries shows similar patterns

Regret Argentina's move not to join Brics, hope it reconsiders: Kremlin

Argentina's incoming Foreign Minister Diana Mondino said in November that his country would not join the Brics grouping of developing nations despite being invited to do so

PM Modi speaks with Putin, assures support for Russia's presidency of Brics

Prime Minister Narendra Modi and Russian President Vladimir Putin on Monday agreed to chalk out a roadmap for future initiatives to further strengthen the "special and privileged strategic partnership" between the two nations. Modi said he had a "good conversation" with Putin and exchanged views on various regional and global issues, including Russia's Presidency of the BRICS in 2024. Last month, External Affairs Minister S Jaishankar visited Russia, during which the two countries decided to step up military and technical cooperation, including manufacturing of modern weaponry. "Had a good conversation with President Putin. We discussed various positive developments in our Special and Privileged Strategic Partnership and agreed to chalk out a roadmap for future initiatives. We also had a useful exchange of views on various regional and global issues, including Russia's Presidency of the BRICS," the Prime Minister said on X. Later in a statement, the Ministry of External Affairs sai

Can Brics, a frenemies grouping, challenge the West's sanctions regime?

The "Brics bank," which is currently led by former Brazilian president Dilma Roussef, has a mandate to lend to infrastructure projects that the rest of the multilateral architecture ignores

India likely to resist Pakistan's bid to be a full-fledged member of Brics

Pakistan has sought Russia's help to become a member during its Brics presidency which began on Monday with the motto of "Strengthening Multilateralism for Equitable Global Development and Security"

Brics became positive, stable force for good: China on bloc's expansion

China on Tuesday said that the BRICS has become a "positive and stable force for good" in international affairs and its expansion with five more countries showed its bright prospects and expressed its full confidence in the group's future. In August, the top BRICS leaders at the grouping's summit in Johannesburg approved a proposal to admit six countries, including Argentina, into the bloc with effect from January 1. However, Argentina's new President Javier Milei last week announced withdrawing his country from becoming a member of the BRICS (Brazil-Russia-India-China-South Africa). Playing down President Milei's move to withdraw his country from becoming a member of the BRICS, Chinese Foreign Ministry spokesman Wang Wenbin told a media briefing here that the addition of new members serves common aspiration of emerging markets and developing countries. "Let me make it very clear that we are fully confident in the BRICS' future," Wang said when asked to comment on Milei's ...

Brics expansion: Five nations including UAE, Saudi get full membership

The BRICS bloc of top emerging economies, including India, Russia and China, has announced induction of five full members into it as part of an attempt to expand its strategic heft against the backdrop of Western dominance in world affairs. As Moscow assumed the presidency of BRICS, Russian President Vladimir Putin said on Monday that the grouping has become a 10-nation body now with Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates joining it as new members. In August, the top BRICS leaders at the grouping's summit in Johannesburg approved a proposal to admit six countries, including Argentina, into the bloc with effect from January 1. However, Argentina's new President Javier Milei last week announced withdrawing his country from becoming a member of the BRICS (Brazil-Russia-India-China-South Africa). "Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates joined BRICS as new full members which is a strong indication of the growing authority of the ...

Newly-elected Argentina President Milei cancels plan to join Brics: Report

The BRICS grouping of five major emerging economies--Brazil, Russia, India, China, and South Africa--at the end of its meeting in Johannesburg announced its decision to invite six new members in 2024

The last quarter-century has turned out to be less Brics, more China-India

China and India have proved the Brics forecast right in the quarter-century gone by. In the second quarter-century expect broadly more of the same, with India gaining prominence, writes T N Ninan

Brics to grow as Saudi, Iran, UAE, Egypt, Ethiopia join ranks on Jan 1

Current members Brazil, Russia, India, China and South Africa in August invited six other nations to become part of their group, pairing some of the planet's largest energy producers

BRICS countries collaborate to mobilise climate finance at COP28 in UAE

In situations where the global financial system falls short of providing adequate inclusive climate investments for developing nations, the BRICS initiative takes on even greater significance

Pakistan's ministry confirms it formally applied for Brics membership

The spokesperson said the decision was taken after having noted the BRICS-related developments at the groupings summit in Johannesburg

China's Li calls for steps to implement consensus reached at G20 Summit

Noting that the road to global economic recovery is still difficult, Chinese Premier Li Qiang has called on the G20 member nations to take more practical steps to implement the consensus reached at this year's New Delhi summit of the forum to ensure development and prosperity. Li, who deputised for Chinese President Xi Jinping at the virtual meeting presided over by Prime Minister Narendra Modi on Wednesday, also urged the member countries to accord high priority to development cooperation and oppose the politicisation of development issues. While many leaders who attended Wednesday's virtual summit spoke on the Israel-Hamas conflict calling for extending timely humanitarian assistance, not allowing the violence to spread, and finding a long-term solution to the Palestine issue, Li reportedly focussed on development cooperation among the member countries of the G20. Excerpts of Li's speech reported by the state-run Xinhua news agency late Wednesday night did not refer to the ...

Pakistan applies for Brics membership; seeks Russia's support: Envoy

Pakistan has applied for membership in the BRICS grouping and sought Russia's support, the country's envoy to Moscow Muhammad Khalid Jamali has said. Pakistan has filed an application to join the BRICS group of nations in 2024 and is counting on Russia's assistance during the membership process, Russia's official TASS news agency reported on Wednesday quoted Jamali as saying. Jamali said Pakistan has already applied for membership in the BRICS-Brazil, Russia, India, China, and South Africa and is set to expand next year with the admission of six new members under the Russian Presidency. Pakistan's application to join the BRICS came as the grouping of emerging economies was set for its biggest expansion with six new members under Russia's rotating Presidency in 2024. This year's BRICS summit held in South Africa formally admitted Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE) as new members. They will formally join during the 2024 summit in ...

Nigeria aims Brics in two years, join G-20 in new foreign policy push

BRICS is a grouping of the emerging market powers Brazil, Russia, India, China and South Africa. In August they invited six other nations, including top oil exporter Saudi Arabia, to join their ranks

Islamabad applies for Brics membership: Pakistan's ambassador to Russia

Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have been invited to become members of BRICS. Their membership will take effect January 1, 2024

Brics has vital role in int'l efforts to achieve peace in Gaza: SA prez

South African President Cyril Ramaphosa has called on the BRICS nations to combine their efforts to bring about a just and lasting peace in the war between Israel and Hamas. Ramaphosa was addressing a virtual Extraordinary Joint Meeting of BRICS (Brazil, Russia, India, China and South Africa) Leaders and Leaders of invited BRICS members on the situation in the Middle East on Tuesday. He also proposed the deployment of a UN Rapid Deployment Force in Palestine, with a mandate to monitor the cessation of hostilities and protect civilians as well as comprehensive dialogue led and owned by Palestinians and Israelis themselves and facilitated by the United Nations. Besides leaders of BRICS countries, leaders of the new BRICS partners - Saudi Arabia, Argentina, Egypt, Ethiopia, Iran and the United Arab Emirates - also attended virtually, as did United Nations Secretary-General Antonio Guterres. As an important voice of the Global South representing a large part of humanity, we believe tha

Brics meet: Saudi Arabia urges all nations to halt weapon exports to Israel

Saudi Arabia's Crown Price made this request during an extraordinary BRICS Joint Meeting, which was being held virtually to address the Israel-Hamas conflict