BRICS bank will complement other multilateral lenders: Chidambaram

Last Updated: Monday, April 1, 2013, 22:26

Finance Minister P Chidambaram Monday said the proposed BRICS Bank to finance development projects in emerging economies will not compete but complement the operations of the existing multilateral lending agencies.

BRICS summit yielded tangible fruits: Chinese Foreign Minister

Last Updated: Sunday, March 31, 2013, 16:18

"The summit has yielded tangible fruits which were included in the Durban Declaration and its Action Plan," he said, adding that it also resulted signing of a number of cooperation agreements.

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 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 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.

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.

Anand Sharma admits India’s underperformance at BRICS

Last Updated: Wednesday, March 27, 2013, 09:49

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.

BRICS to set up development bank parallel to WB and IMF

Last Updated: Tuesday, March 26, 2013, 13:11

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

Last Updated: Tuesday, March 26, 2013, 09:25

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.