Need reforms in international financial institutions: BRICS

Deciding to establish a new Development Bank for financing infrastructure needs in emerging economies, the BRICS summit today called for reform of the international financial institutions to make them more representative and to reflect the growing weight of the five-member grouping and other developing countries.

BRICS partnerships will benefit Africa: SA Minister Davies

South African Minister of Trade and Industries Rob Davies on Wednesday said that the partnership between the BRICS nations will help in boosting the growth of trade and industrialisation in the African continent.

Singh-Xi meeting will help build mutual trust: China

Xi, will hold bilateral meetings on the sidelines of the BRICS summit, Chinese Foreign Ministry spokesman Hong Lei told a media briefing here.

Manmohan Singh makes five recommendations to BRICS

Prime Minister Manmohan Singh Wednesday made five suggestions for BRICS, covering global growth to security, as the influential bloc of Brazil, Russia, India, China and South Africa moves forward after concluding the first cycle of five summits in each of these emerging economies.

BRICS mechanism vital for emerging economies

BRICS consists of Brazil, Russia, India, China and South Africa, with the name formed by the initials of the five emerging economies. It was known as BRIC before South Africa joined the group in 2010.

World Bank welcomes establishment of BRICS Bank

Welcoming the establishment of a BRICS Bank, the World Bank Wednesday said it is ready to work closely with the new player to end poverty and build shared prosperity throughout the developing world.

Indian corporate leaders stress on boosting small, medium enterprises at BRICS

They voiced these views at the ongoing fifth BRICS Summit in Durban, South Africa. Briefing the media on the sidelines of the conference, Naina Lal Kidwai, country head of the Hong Kong and Shanghai Banking Corporation (HSBC) in India, said that the mid-sized business enterprises need continuous support.

Anand Sharma admits India’s underperformance at BRICS

The BRICS countries have invited African states to take part in discussions at the summit under the theme ‘BRICS and Africa - Partnerships for Integration and Industrialisation’ to explore the potential for the development of cooperation between them.

Manmohan Singh to meet Xi Jinping in Durban Wednesday

Prime Minister Manmohan Singh will meet China's new President Xi Jinping in Durban Wednesday, the first bilateral meeting between the two leaders after the leadership change in Beijing.

BRICS nations to set up JBC to encourage free trade

The summit of BRICS nations in Durban Wednesday will set up a Joint Business Council that will seek to encourage free trade and investment in goods and services among the 5-nation grouping.

BRICS asked to show solidarity with Syrian people

Ahead of the BRICS summit in Syria, a group of eminent people from across the world has asked the leaders of Brazil, Russia, India, China and South Africa to show their solidarity with the people of the strife-torn country.

BRICS to set up development bank parallel to WB and IMF

In a major move aimed at reforming the global financial architecture, the BRICS finance ministers Tuesday agreed on the setting up of a development bank to fund infrastructure and development projects in the five-nation grouping of emerging powers.

Durban Summit may witness establishment of BRICS bank

Indian negotiators are poring over the draft of the Durban Summit that may come out with its recommendations that can form the document for setting up the first South-South bank.

Four deliverables expected at Durban BRICS Summit

Four concrete deliverables are expected at the 5th BRICS Summit at Durban March 26-26 that will take the process of the five-nation bloc forward to the next level, Indian officials said Monday.

Chidambaram to talk on BRICS bank with counterparts

Finance ministers of Brazil, Russia, India, China and South Africa are expected to agree on setting up a BRICS bank when they meet here Tuesday on the margins of the larger Summit among the leaders.

Durban Summit may agree on a roadmap for BRICS bank

Key issues like capital, membership and governance are still bogging the establishment of a BRICS Development Bank over which the Durban Summit may agree on a roadmap on Wednesday but still take some years to fructify.