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Jul 16, 2014

Brics countries create $100bn bank to ease western grip on global finances

Brazil, Russia, India, China and South Africa set up bank and currency pool to push for bigger say in global financial order The leaders of the Brics emerging market countries have launched a $100bn (£58.3bn) development bank and an emergency reserve... #China #India #Russia #Brazil #South Africa

Jul 14, 2014

Shanghai favourite for Brics development bank headquarters

India presses for equal voting rights as emerging market bloc agrees on China's financial capital to base rival to World Bank Shanghai looks set to become the headquarters of a development bank being launched by the Brics Brazil, Russia, India, China... #China #Shanghai #India #World Bank #Russia #Brazil #Europe #Narendra Modi #Xi Jinping #South Africa #Africa

Jul 23, 2014

Can India Achieve Financial Inclusion within the Next Few Years?

The new Government of India has made financial inclusion one of the corner stones in its modernization aspirations for the country. In his first budget speech earlier this month , Finance Minister Arun Jaitley set the target of a financial account fo... #India #Arun Jaitley

Jul 21, 2014

BRICS Bank Is Mostly a Jointly Managed Sovereign Wealth Fund (SWF), and Opportune Time for a Japan-India SWF

Amid some fanfare, a new Development Bank, otherwise called the BRICS Bank, modeled on the multilateral development banks, as well as a Contingent Reserve Arrangement modeled on the IMF, were signed into existence by the members of BRICS -- Brazil, R... #China #India #World Bank #International Monetary Fund #United States Department of the Treasury

Jul 21, 2014

The BRICS bank: Multipolarity or Beijing Consensus?

No longer just a catchy acronym - initially designed to assist institutional investors in exploring new investment opportunities in the developing world - the BRIC grouping (Brazil, Russia, India, China) has emerged as a serious contender on the glob... #China #Beijing #India #Goldman Sachs

Jul 18, 2014

New BRICS Bank a Building Block of Alternative World Order

The past several years have been rocky for the BRICS economies -- Brazil, Russia, India, China and South Africa. Brazil's growth forecast was slashed considerably as the commodities super-cycle slowed, Russia's political misadventures dragged down it... #China #India #Goldman Sachs

Jul 16, 2014

BRICS okay $100bn bank to rival IMF, World Bank

Leaders of the BRICS emerging market nations launched a $100bn (€74bn) development bank and a currency reserve pool in their first concrete step toward reshaping the Western-dominated international financial system. The bank aimed at funding infrastr... #World Bank #International Monetary Fund #China #Shanghai #India #Dilma Rousseff

Jul 16, 2014

BRICS Agree to Set Up USD 100 B Development Bank, Emergency Fund

The five BRICS countries are due to create a development bank with USD 50 B in initial capital and an emergency fund, Brazil's President Dilma Rousseff announced. At a summit staged in the Brazilian city of Fortaleza that kicked off just days after t... #China #India #New Delhi #World Bank #International Monetary Fund #Dilma Rousseff

Jul 15, 2014

5 powers to create banking alliance

WASHINGTON -- Fed up with U.S. dominance of the global financial system, five emerging market powers this week will start their own versions of the World Bank and the International Monetary Fund. Brazil, Russia, India, China and South Africa --the so... #World Bank #International Monetary Fund #Latin America #China #Shanghai #India #New Delhi #Johannesburg #Brookings Institution

Jul 15, 2014

Business in brief: Northern Irish business improving

COMPANIES in Northern Ireland have reported an increase in activity for the twelfth month running, helped by a further increase in new business. With workloads continuing to rise, businesses increased their staffing levels, according to the latest Ul... #Northern Ireland #China #Shanghai #India #Airbus #United Kingdom
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