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World Bank chief welcomes new BRICS development bank

Last Updated: Wednesday, July 23, 2014, 21:09

The BRICS developing nations - Brazil, Russia, India, China and South Africa - announced the bank last week, saying it would fund infrastructure projects in developing nations - a reflection of their growing importance in the world economy.

ADB projects 5.5% growth for India in 2014-15

Last Updated: Friday, July 18, 2014, 10:13

Expectations of economic reform by Prime Minister Narendra Modi's new govt mean that the Manila-based lender has raised its 2015 growth forecast for India to 6.3 percent from 6.0 percent.

China picks site for BRICS bank: Reports

Last Updated: Thursday, July 17, 2014, 12:39

BRICS leaders agreed to put its headquarters in China`s commercial hub of Shanghai, which is seeking to become an international financial centre. 

India Inc hails BRICS pact to set up New Development Bank

Last Updated: Wednesday, July 16, 2014, 19:29

Terming as "historic" the pact on establishment of a New Development Bank at the BRICS Summit, India Inc Wednesday said the move was likely to strengthen economic cooperation between the five-nation grouping, help stave off future economic crises and boost infra development.

BRICS bank to get going in 2 yrs; India to head for 6 yrs

Last Updated: Wednesday, July 16, 2014, 18:31

India's presidency will be followed by Brazil and Russia who will have five years term each under an agreement reached after intense negotiations among the five country-grouping BRICS -Brazil, Russia, India, China and South Africa.

BRICS voices disappointment with non-implementation of IMF reforms

Last Updated: Wednesday, July 16, 2014, 07:09

The emerging-market bloc of BRICS Tuesday advocated cooperative approach and peaceful solution to global hot issues.

BRICS voices disappointment with non-implementation of IMF reforms

Last Updated: Wednesday, July 16, 2014, 06:47

The world`s leading emerging economies Tuesday expressed their disappointment with the failure to implement the 2010 International Monetary Fund (IMF) reforms.

BRICS eyes closer partnership

Last Updated: Wednesday, July 16, 2014, 05:50

The emerging-market bloc of BRICS Tuesday vowed to strive for more comprehensive cooperation and forge a closer economic partnership.

Choices BRICS nations make will impact world, says Modi

Last Updated: Wednesday, July 16, 2014, 01:28

Prime Minister Narendra Modi has said the BRICS nations bear a great responsibility as "the choices we make now, will shape the future of not just our countries, but the world at large".

Agreement on BRICS development bank significant step: Modi

Last Updated: Wednesday, July 16, 2014, 01:26

Terming the agreement towards setting up BRICS New Development Bank a significant step, Indian Prime Minister Narendra Modi on Tuesday said an open international trading regime is critical for global economic growth.

BRICS: Modi pitches for rule-based, international trading regime

Last Updated: Tuesday, July 15, 2014, 22:48

At the summit, which is likely to establish the new BRICS bank, he said the member countries should ensure these institutions-- New Development Bank, Contingent Reserve Arrangement-- establish a new model.

BRICS members likely to have equal shareholding in new bank

Last Updated: Tuesday, July 15, 2014, 20:04

The BRICS Summit, Prime Minister Narendra Modi's first multilateral engagement, commenced Tuesday amid an understanding that the 5-member nations will have equal shareholding in the proposed USD 50 billion BRICS Development Bank which India had been strongly pressing for.