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Tag: BRICS

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BRICS explores merging payment systems to cut transaction costs

BRICS member nations are discussing plans to integrate their national instant payment systems and central bank digital currencies in a move aimed at cutting costs and improving efficiency for cross-border transactions within the bloc. Reserve Bank of India Governor, Sanjay Malhotra, disclosed the discussions in comments covered by Brazilian media and reported by TV BRICS. […]

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India urges BRICS to address trade gaps among members

India on Monday pressed BRICS nations to help reduce New Delhi’s trade deficits with the group, even as members united in criticism of United States President Donald Trump’s tariff measures. At a virtual BRICS summit, External Affairs Minister S. Jaishankar said “India’s biggest trade deficits are with BRICS partners.” He represented India in place of […]

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BRICS not a threat, China tells Trump 

China on Monday insisted that the BRICS alliance—which includes Brazil, Russia, India, and China—is not aimed at confrontation, responding to United States President, Donald Trump’s pledge to impose an extra 10% tariff on countries aligning with the bloc. “Regarding the imposition of tariffs, China has repeatedly stated its position that trade and tariff wars have […]

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BRICS pushes back Trump’s tariffs, condemns strikes on Iran 

Leaders of the BRICS bloc have issued a strong rebuke to U.S. President Donald Trump over his trade policies and military actions, warning that such moves threaten global economic stability and peace. Meeting in Rio de Janeiro on Sunday, the expanded BRICS group — comprising Brazil, Russia, India, China, South Africa, and six other countries […]

BRICS leaders meet amid Middle East, US trade tensions
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BRICS leaders meet amid Middle East, US trade tensions

Leaders of the BRICS bloc will gather in Rio de Janeiro from Sunday, aiming to present a unified front against U.S. trade protectionism. However, internal rifts—especially over the crisis in the Middle East—threaten to overshadow the summit. BRICS, which now includes 11 nations and accounts for nearly half of the world’s population and 40% of […]

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Brazil welcomes Nigeria as BRICS partner country

The Brazilian government has officially announced Nigeria’s inclusion as a partner country in the BRICS bloc, highlighting shared interests in strengthening cooperation among Global South nations and advocating for the reform of international organizations. This move was confirmed in a statement from Brazil’s Foreign Ministry on Friday. “With the world’s sixth-largest population—and Africa’s largest—as well […]

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Indonesia joins BRICS as 10th full member

Indonesia officially became the tenth full member of the BRICS group of developing economies on Monday, marking a significant expansion of the bloc. The announcement was made by Brazil, which holds the BRICS presidency for 2025. “The Brazilian government welcomes Indonesia’s entry into the BRICS,” it said in a statement. “With the largest population and […]

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‘BRICS not interested in weakening US dollars’

India’s Foreign Minister, Subrahmanyam Jaishankar, stated at an event in Doha, Qatar, on Saturday that BRICS countries have no intention of weakening the US dollar. This comment highlights the group’s position on global economic dynamics, signaling that while BRICS nations are exploring alternatives to the dollar, their primary goal is not to undermine its value. […]

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Nigeria officially joins BRICS

Nigeria has officially joined BRICS as a partner country, along with 12 other nations, further solidifying its economic ties with the intergovernmental group. This announcement was made at the ongoing BRICS summit in Kazan, Russia, from October 22 to 24, 2024. Nigeria’s inclusion comes on the heels of a substantial rise in foreign capital inflows […]

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