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BRICS combined GDP will surpass US, western Europe by 2020: UN

The combined output of BRICS countries will surpass the aggregate GDP of the US, Canada and other European nations by 2020, said a UN report.

'BRICS a force but cannot challenge US due to disputes'

On March 27, BRICS nations had decided to establish a new development bank to finance infrastructure projects.

Following BRICS development bank plan with great interest: IMF

The International Monetary Fund has said it is following with "great interest" the recent announcement by leaders of Brazil, Russia, India, China and South Africa (known as BRICS) to establish a development bank.

US hopes synergy between proposed BRICS bank, existing bodies

The US has expressed hope that the new multilateral development bank planned by BRICS countries will work closely with existing international financial institutions and follow best of the practices.

Manmohan Singh hails BRICS' decision to launch development bank

Hailing the BRICS summit's decision to launch a development bank and a Contingency Reserve Arrangement (CRA), Prime Minister Manmohan Singh Thursday said India's initiatives in these projects made a significant progress.

BRICS must meet challenges of persisting weaknesses in global economy: PM

PM said BRICS should also directly support the process of development and change now underway in Africa.

PM leaves on Monday for Durban to attend BRICS Summit

The highlight of the Summit of the emerging economies of Brazil, Russia, India, China and South Africa (BRICS) is the possible setting up of the BRICS bank. But there is no no clarity on its corpus.

Durban summit to consider formation of BRICS bank: China

The summit of BRICS nations, namely Brazil, Russia, India, China and South Africa, is scheduled from March 26-27 in the South African city.

China expresses support for BRICS Development Bank

The summit which will also be attended by Prime Minister Manmohan Singh among others will be held in Durban on March 26 and 27.