BRICS News

At least 40 people were killed in flooding following heavy rainfall that hit southern Thailand [Xinhua]
China is lending a helping hand to flood-stricken Thailand, allocating thousands of dollars’ worth of emergency aid to help victims in the south of the country, the Chinese embassy in Bangkok said on Friday.
Ambassador Ning Fukui visited badly hit areas, donating 1 million baht (approximately $28,600) to flood victims on behalf of the Chinese embassy and consulate.
The Red Cross Society of China will also donate $100,000, the embassy revealed.

China’s foreign investments are up but its exports have fallen year on year in 2016 [Xinhua]
China’s foreign direct investments last year hit a record $189 billion dollars, a report released this week showed.
According to the study done by the German Mercatur Institute for China Studies (MERICS) and Rhodium Group, China’s investments abroad rose an overall 40 per cent, with money going to the European Union amounting to $37.1 billion – 77 per cent more than in 2015.

“We see this as a very strong and practical reaffirmation of China’s support to multilateralism in the United Nations,” Moller said [Xinhua]
When Chinese President Xi Jinping arrives in Switzerland to attend the World Economic Forum in Davos next week, he will also be visiting Geneva where he is expected to meet with UN officials.
He is expected to visit the United Nations Office in Geneva (UNOG), the World Health Organization and the International Olympics Committee.

Rampant inflation, which once frustrated the Rousseff administration and her successor Michel Temer, now appears to be falling to levels desired by the Central Bank [Xinhua]
Brazil’s Central Bank has slashed the benchmark Selic interest rate by 75 basis points bringing it down to 13 per cent from last year’s 14.25 per cent.
The latest cut follows two consecutive cuts of 25 basis points each, and was more than markets had been predicting.

US UN Ambassador Samantha Power has been highly critical of Russia’s involvement in Syria [Xinhua]
Russian and American diplomats shared bitter exchanges at the United Nations Security Council (UNSC) on Tuesday, at a session where the Council met with new UN Secretary General Antonio Guterres.
In what was one of her final appearances at the UNSC, US Ambassador to the UN Samantha Power condemned Russia’s invasion and annexation of parts of Ukraine and its Syria policy.
Power said Russia is carrying out “a merciless military assault” in Syria.

India’s economy will survive and bounce back from a slight GDP drop in 2017 [Xinhua]
A World Bank report – Global Economic Prospects – released Wednesday says that India’s GDP growth will scale back from 7.6 per cent to 7 per cent in 2017 as a direct result of the demonetization policy released in Q4.

President Xi Jinping’s appearance at the World Economic Forum next week highlights China’s growing influence and power [Xinhua]
Chinese President Xi Jinping will attend the World Economic Forum in Davos next week – the first ever such endeavor for a Chinese head of state – as part of an official visit to Switzerland.
The Chinese government said Xi’s attendance would emphasize Beijing’s support for multilateralism – a core concept of its founding ideal for the BRICS bloc – global cooperation and free trade, local media reported.

The Liaoning has been carrying out drills in the South China Sea since early December [Xinhua]
Taiwan defense ministry spokesman Chen Chung-chi told media on Wednesday that Taipei launched a number of fighter jets as part of a surveillance mission in response to the passage of Chinese aircraft carrier Liaoning and several warships in tow through the Taiwan Strait.
The Taiwan Strait borders the South China Sea, where the Liaoning had been conducting drills and testing new weapons.
Chen emphasized that the Liaoning did not enter Taiwan’s waters.

Sukhoi-24 fighters, such as the one above, have flown hundreds of sorties over Syria and destroyed a number of Islamist rebel bunkers, the Russian military said [Xinhua]
The Russian military has fired back at US Secretary of Defense Ashton Carter over his allegations that its forces did “virtually zero” to fight the Islamic State in Syria.
Chief of Staff of the Russian Armed Forces Valery Gerasimov said the reality was that it was the US which had achieved little more than civilian casualties in its 30-month bombing campaign against the Islamic State.

Philippine President Rodrigo Duterte (R) inspected soldiers from the Russian anti-submarine destroyer Admiral Tributs at a pier in Manila last week [Xinhua]
Philippine President Rodrigo Duterte is making good on his promises to cement ties with China and Russia.
According to local media, Philippine Defence Minister Delfin Lorenzana said on Monday that Manila is preparing a security memorandum with Moscow which will lead to visits of military delegations and cooperation on drills.