BRICS to form development bank; agrees to create $100 bn contingency fund

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

BRICS nations on Wednesday decided to establish a new development bank to finance infrastructure and to create a USD 100 billion Contingency Reserve Arrangement to tackle any financial crisis in the emerging economies.

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.

BRICS partnerships will benefit Africa: SA Minister Davies

Last Updated: Wednesday, March 27, 2013, 17:58

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.

'BRICS bank could become future World Bank'

Last Updated: Wednesday, March 27, 2013, 17:42

The BRICS Development Bank could become a World Bank in future due to the increasing influence of emerging countries, chairman of Goldman Sachs Asset Management said Wednesday.

Singh-Xi meeting will help build mutual trust: China

Last Updated: Wednesday, March 27, 2013, 16:50

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-Xi meeting will help build mutual trust: China

Last Updated: Wednesday, March 27, 2013, 16:24

Ahead of the first meeting between Prime Minister Manmohan Singh and Chinese President Xi Jinping in Durban, China on Wednesday said such a meeting will help to build mutual trust and cooperation between the two countries.

Chinese president meets BRICS business leaders

Last Updated: Wednesday, March 27, 2013, 14:47

Xi, on his first trip abroad as Chinese president, is expected to outline China's viewpoints on BRICS-Africa cooperation.

Manmohan Singh makes five recommendations to BRICS

Last Updated: Wednesday, March 27, 2013, 14:34

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

Last Updated: Wednesday, March 27, 2013, 12:21

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.

Kudankulam-I will be operational next month: Manmohan Singh

Last Updated: Wednesday, March 27, 2013, 10:51

The controversial Kudankulam Unit I of the atomic power reactor in Tamil Nadu will become operational by next month, Prime Minister Manmohan Singh has said.

World Bank welcomes establishment of BRICS Bank

Last Updated: Wednesday, March 27, 2013, 10:15

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

Last Updated: Wednesday, March 27, 2013, 09:53

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.