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BRICS to set up their bank within five years, progress slow: Russia

Last Updated: Wednesday, February 26, 2014, 00:33

The BRICS bloc of emerging economies will set up its development bank with a total capital of USD 100 billion within five years, but member countries still haven`t agreed on their share in the bank`s structure, a senior Russian official said on Tuesday.

BRICS states to form teams to work on their bank

Last Updated: Friday, April 19, 2013, 17:51

Finance ministers of the BRICS countries have agreed to set up delegations that would work out the main principles for the establishment of a development bank by this fall, Russian Deputy Finance Minister Sergei Storchak said.

'BRICS Bank can supplement infra funds provided by World Bank'

Last Updated: Friday, April 19, 2013, 11:42

The World Bank President said during his visit to BRICS countries he did not experience even slightly a diminishing of demand for its services.

BRICS nations launch business council

Last Updated: Wednesday, March 27, 2013, 18:06

BRICS countries on Wednesday morning have launched the BRICS Business Council, the key institution expected to drive private sector investments among the five member countries.

South Africa wants BRICS bank based there

Last Updated: Monday, March 11, 2013, 15:23

President Jacob Zuma had already made a pitch for this during the BRICS Summit in India in March 2012, and according to informed sources, he will be making a strong plea again during this year’s summit.

BRICS countries seeking more say in global governance

Last Updated: Tuesday, June 19, 2012, 00:13

The world's biggest five emerging economies including India are jockeying for more say in global governance as their leaders met ahead of the G-20 Summit to strengthen their calls for a new model in this regard.

BRICS seek merit-based selection process for World Bank chief

Last Updated: Thursday, March 29, 2012, 19:49

Leaders of India and four other BRICS nations on Thursday welcomed the candidatures from emerging economies for the World Bank chief's post and emphasised on the need for a merit-based selection process.

BRICS not "obliged" to follow US sanctions on Iran

Last Updated: Wednesday, March 28, 2012, 18:25

The issue came up for discussion at the meeting of Brazil, Russia, India, China and South Africa (BRICS) trade ministers, a day ahead of the BRICS summit here.

Chinese President arrives tomorrow for BRICS Summit

Last Updated: Tuesday, March 27, 2012, 21:22

India's concern over widening trade imbalence with China is likely to be raised by Singh during his talks with the Chinese President.

BRICS nations sign consensus on tackling financial crisis

Last Updated: Thursday, September 22, 2011, 00:06

The BRICS countries -- China, Brazil, Russia, India and South Africa -- Wednesday signed the Beijing Consensus asserting that coping with the financial crisis and promoting long-term, steady and relatively rapid economic growth are their shared tasks.

BRICS give lukewarm response to Brazil euro plan

Last Updated: Thursday, September 15, 2011, 09:31

Brazil's proposal to support the crisis-hit euro zone garnered only lukewarm support from fellow BRICS countries on Wednesday, as doubts mounted whether the five emerging market powers have the political will or financial clout to throw a lifeline to Europe.