RT | December 3, 2017 Since Russia, China, India, Brazil & South Africa are all either large producers or consumers of gold, or both, it is highly likely that the BRICS bloc they constitute could focus its cross-border gold trading network on trading physical gold. Gold pricing benchmarks from such a system would be based […]
As the US and its E.U. partners continue to levy punitive sanctions on Russia, the BRICS are responding with new financial initiatives to help their members break-out of the US and European financial trading monopoly.
Currently, both China and Russia are surging ahead as the world’s top Central Bank buyers of gold, further consolidating their position to be able to weather a global dollar crisis which many expert believe is inevitable. When exactly that happens is still anyone’s guess.
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Chinese Finance Minister Lou Jiwei (C), Shanghai Mayor Yang Xiong (R) and President of the New Development Bank (NDB) of BRICS K.V. Kamath attend the launching ceremony of the bank in Shanghai, east China, July 21, 2015 [Xinhua]
The BRICS New Development Bank (NDB) has approved two loans – for a water infrastructure project in India and the other is for a transport infrastructure project in Russia.
The Board of Directors (BoD) of the NDB approved two infrastructure projects with a loan value of US$413.8 million during the 12th BoD meeting in Shanghai on November 20.
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Increased parliamentary exchange can boost economic recovery, intra-BRICS trade and a greater role for emerging economies in the international financial architecture [Xinhua]
BRICS member states at a forum in the the Russian city of St. Petersburg have concluded that they want to strengthen parliamentary cooperation between them.
The parliamentary forum, chaired by China, comes on the heels of the 9th BRICS Summit held in the Chinese city of Xiamen last September.
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