EMerging Equity
Contingent Reserve Arrangement
BRICS Mutual Trade Increased By 70% Since 2009
Trade between BRICS countries has increased 70% over the past 6 year, according to South African President Jacob Zuma, RT reports. The economies of the five BRICS nations (Brazil, Russia, India, China and South Africa) account for almost 30% of global GDP. BRICS presents an aggregate GDP exceeding $32 trillion. This marks a 60% growth since … Continue reading
BRICS: $100 Billion Liquidity Reserve Fund Comes Into Force
“The agreement on the BRICS $100 billion currency reserve pool came into force Thursday. The fund was set up by the developing nations group to protect their national currencies from volatility in global markets,” RT reports. “The arrangement is important not only because it provides the possibility to quickly obtain additional liquidity, but its very … Continue reading
BRICS Bank Said To Open Offices In Member States In 2016
The BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — will start to open local offices of the New Development Bank (NDB), also known as the BRICS bank, in 2016, Russia’s TASS news agency reports, citing Andrey Bokarev, a department head at the Russian Finance Ministry. The first office in South Africa … Continue reading
BRICS Bank To Start Lending In Local Currencies In Q1 2016, President Says
The $100 billion New Development Bank (NDB), also known as the BRICS bank, which comprises of the members of the BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — will start lending in local currency by April 2016 and its member countries will be the primarily focus of the bank, K.V. Kamath, the President of … Continue reading
India, Pakistan Upgraded To Members Of The Shanghai Cooperation Organization (SCO)
The Shanghai Cooperation Organization (SCO) has decided to upgrade India and Pakistan to full members of the regional security bloc led by China and Russia. The Shanghai Cooperation Organization (SCO) has decided to upgrade India and Pakistan to full members of the regional security bloc led by China and Russia. The SCO said that the invitation to the two Asian nations brings forth the evolution of … Continue reading
BRICS Launch New $100 Billion Bank, Sign Agreement On $100 Billion Currency Reserve Pool
The BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — have launched their $100 billion New Development Bank (NDB) — also known as the BRICS bank — and have signed an agreement on their $100 billion currency reserve pool — also known as the Contingent Reserve Arrangement (CRA) — ahead of the summit of SCO and BRICS being held in the Russian … Continue reading
BRICS Bank To Be Operational By End Of 2015, South African Finance Ministry Says
The BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — will see their own $100 billion development bank, The New Development Bank (NDB), also known as the BRICS bank, in operation by the end of 2015, South Africa’s Finance Ministry said on Friday. “The New Development Bank is expected to be operational … Continue reading
BRICs Should Move To Single Market, Create Tools For Global Economic Control, Chinese Official Says
The BRICs grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — should move toward a single trade and economic market, in addition to creating and promoting projects and tools for global economy control, Zhang Dejiang, the Chairman of the Standing Committee of China’s National People’s Congress (NPC), said during the first-ever BRICs Parliamentary Forum … Continue reading
GDP Of BRICs To Surpass G7 In Two To Three Years, Senior Russian Official Says
The combined gross domestic product (GDP) of the BRICs grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — will exceed that of the Group of Seven (G7) member states in the next two to three years, a senior Russian official said Monday during the first-ever BRICs Parliamentary Forum in Moscow. “In 2014, … Continue reading
Russia’s Putin Ratifies $100 Billion BRICs Currency Pool Deal
Russian President Vladimir Putin has ratified an agreement to establishment a $100 billion foreign currency reserve pool for the group of BRICs emerging economies, according to a document published Saturday on Russia’s official legal information site. On Wednesday the deal was ratified by Russia’s upper house of Parliament, the Federation Council. The currency pool, called the Contingent Reserve Arrangement … Continue reading
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