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New Development Bank and the Reserve Currency Pool Many observers see the establishment of the New Development Bank (NDB) and the Reserve Currency Pool as a BRICS-led challenge to the International Monetary Fund and the World Bank, while the emergence of new financial stabilization mechanisms and development institutions appears to augment and strengthen rather than threaten the existing monetary and credit ...
... ratings organisations from five countries (CPR of Portugal, CARE Rating of India, GCR of South Africa, MARC of Malaysia, and SR Rating of Brazil) merged to launch ARC Ratings, a new global agency that was supposed to become an alternative. Naturally the BRICS nations have also brought up the question of creating a joint venture that will serve as an alternative source of credit ratings. The head of VTB, one of Russia’s leading banks, Andrey Kostin spoke to the Russia News Agency TASS about the ...
... more, many of the countries with rapidly developing economies have now accumulated substantial reserves in their national wealth funds, which they frequently invest in developed countries, thereby strangulating financing into the national economy. The BRICS New Development Bank, which was officially launched at the July 2015 BRICS Summit in Ufa, has been tasked with resolving these issues. New Resources or New Possibilities? As was repeatedly stated in the run-up to, and immediately before, the BRICS ...
... can only be found in those countries that are outside these global agreements. Does Russia have any chance for development outside TPP and TTIP limits? No clear-cut answer is apparent in the immediate term. As for the Eurasian Economic Union (EEU) and BRICS, their cooperation potential remains great, but still has to prove its economic worth. Importantly, U.S. trade with China (USD 590 billion), India (USD 67 billion), Brazil (USD 73 billion) and South Africa (USD 14.5 billion) in 2014 was several-times ...
At the 7 th BRICS Summit held on July 8-9, 2015 in the Russian city of Ufa, the leaders of the BRICS member states came together and signed several joint agreements including the ‘Ufa Declaration’, the ‘Ufa Action Plan’, the ‘Strategy ...
... not only negotiate final agreements and close deals, but to meet new clients, successfully establish and maintain long-term relationships and efficiently transfer technology, leading to greater innovation. Increasing the business mobility within the BRICS is one of the main priorities of the recently founded BRICS Business Council, as stated by Onkar S Kanwar, Chairman, BRICS Business Council, in a recent interview by the Russia&India Report. To "have a special arrangement for grant of long ...
With the 7th annual BRICS summit more than a week behind us and yet another declaration signed by the heads of state, it would be only fitting to take a look back at the results of the summit and make predictions on its possible impact on the ever-changing geopolitical landscape....
A long-awaited event – the 7th annual BRICS Summit held in Ufa – made profound experts elaborate the question of further prospects for the group’s development. Should it be a partnership without any supra-secretariat or an organization with formalized mechanisms of cooperation ...
Russian President Vladimir Putin will host two important international summits, one of the BRICS group on July 8-9 and the other of Shanghai Cooperation Organizations members on July 9-10. For public relations, this will allow him to send a message to the world that despite the rupture with Europe and a new "standoff" with the United ...
History was made last week when the first ever BRICS Youth Summit took place in Kazan, the capital of the Republic of Tatarstan. The event became the gathering place of over 200 young representatives from all five BRICS nations united by the common dream of creating a multipolar world. Throughout ...
| U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements |
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| U.S. wants to deter Russia’s military and political activity |
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| U.S. wants to dissolve Russia |
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| U.S. wants to establish alliance relations with Russia under the US conditions to rival China |
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