Content tagged with: brics


Sri Lanka is Ready to Join New International BRICS Bank


President Mahinda Rajapaksa said he welcomes the initiative taken by the BRICS leaders to set up a new international development bank.  The President said in a twitter message the new bank will be a helping hand to developing nations.

China at the Helm of New BRICS Bank


There is no question that China is the linchpin in BRICS. Now the founding of the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) suggest that BRICS can be looked to for bold moves in the future, with China leading the charge. All sides agree that this is a mutual partnership with noble goals of reciprocal investment and development, but it’s hard to ignore China’s considerable muscle.

Indian Media Praise PM Modi's Diplomacy at Brics Summit


Media in India are praising Prime Minister Narendra Modi's performance at the Brics summit in Brazil amid calls for better ties with China.  Papers feel the PM's "debut on the world stage" has put India "squarely on the path of pragmatic internationalism".

Emerging Economies Launch Development Bank


A new international development bank and multi-billion emergency lending pool will be setup by Brazil, Russia, India, China and South Africa. The move comes at a summit meeting of BRICS leaders in Brazil.

BRICS Host Sports Events to Boost Prestige, just don’t call it ‘Soft Power’


As the BRICS Summit meets hot on the heels of the FIFA World Cup, also in Brazil, a remarkable trend is apparent. Most of the major global sports events such as the World Cup and the Olympic Games are taking place in the emerging powers of the 21st century. Russia, China and South Africa are all hosting the World Cups or Olympics along with Brazil in recent years. This phenomenon reflects a trend to adopt global sports events as a diplomatic tool to enhance prestige and become more socially accepted in the established world order.

Vladimir Putin Kicks off Latin America Tour with Cuba Stop


Russian President Vladimir Putin began a six-day Latin American tour aimed at boosting trade and ties in the region with a stop Friday in Cuba, a key Soviet ally during the Cold War that has backed Moscow in its dispute with the West over Ukraine. The two countries signed about a dozen accords in areas such as energy, industry, health and disaster prevention. Russian companies will participate in petroleum projects around Boca de Jaruco on the island's north coast, and that cooperation will extend to offshore oil deposits, Cuban government website Cubadebate said.

The BRICS's New Aid Bank


Leaders of the five largest emerging economies will meet July 13-16 to finalize their first joint project: a new international development bank. The countries, known as BRICS (Brazil, Russia,India, China, and South Africa) have spent many years trying to find a common goal. Together they have more than 40 percent of the world’s population. And they share an interest in challenging many of the norms set by the West. Yet each nation is quite different in governance and ambition.

Narendra Modi’s BRICS Summit Challenge


When Prime Minister Narendra Modi flies to Brazil mid-July, it will be a welcome respite from the heat and cacophony of post-budget Delhi. President Dilma Rousseff's grand welcome to the sixth Brics summit will be energising. The summit's pomp and ceremony will, however, be less important than Modi's 'side meetings', especially with Chinese president Xi Jinping. It will allow him to take measure of the man who has emerged as one of the most powerful and ambitious leaders of modern China.