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China’s Trade With BRICS Surges: A $653 Billion Boost in Emerging Markets
15.10.2024
China’s trade with BRICS countries surged by 5.1% year-on-year, reaching 4.62 trillion yuan (approximately $653 billion) in the first three quarters of 2024. Officials emphasized the importance of BRICS as a crucial platform for developing nations to collaborate, particularly in sectors like steel...
Local Currencies Are Not Alternatives to the Dollar but the System, BRICS Bank Chair Says
23.8.2023
The development bank founded by the BRICS bloc of emerging economies aims to promote a multipolar financial system, its head, Dilma Rousseff, has indicated. As part of these efforts, the institution seeks to expand lending in local currencies, those of member states in particular, such the South...
BRICS Bank Issues First ZAR Bonds as It Looks to Use Local Currencies
18.8.2023
The New Development Bank (NDB), established by the BRICS bloc of emerging economies, has issued its first bonds denominated in South African rand (ZAR). The auction, which was closed on Tuesday, is part of the bank’s efforts to increase both fundraising and lending in local currencies. Development...
US Dollar to Remain Major Global Currency, South Africa’s BRICS Sherpa Says
17.8.2023
BRICS plans to discuss trade in national currencies at its summit but de-dollarization is not on the agenda, South Africa’s BRICS Sherpa stated. The talks in Johannesburg next week will also focus on the expansion of the bloc of emerging economies and the diplomat doesn’t see this as a challenge...
Algeria Readies $1.5B BRICS Bid: Major Move for Membership in the Cards?
25.7.2023
As quoted by Ennahar TV, Algerian president Abdelmadjid Tebboune has signaled that Algeria — Africa’s largest nation — is eager to align itself with the BRICS coalition. He conveyed that this significant alignment with the five major emerging economies could potentially unlock unprecedented...
BRICS: History, objectives and an overview of the global alliance
23.6.2023
Explore how the emerging economies of Brazil, Russia, India, China and South Africa cooperate in areas such as economics, development and global governance
Gold to $2,100 — Investment Management Firm Says Gold to Be Key Instrument in New Financial Order
21.6.2023
Central banks, particularly those in emerging economies, are ramping up their gold reserves in preparation for a new monetary regime, signaling a potential loss of reserve currency status for the U.S. dollar, according to the investment management firm Goehring & Rozencwajg. The company’s...
G-7 and G-20 Countries at Odds Over Stablecoin Regulation Amid Fears for Emerging Economies
8.6.2023
While global leaders are working towards establishing universal rules for the crypto sector, advanced and emerging economies are divided on the regulation of stablecoins.
The Group of Seven (G-7) economies, an international forum of seven of the world's advanced economies, are ostensibly more...
BRICS to Promote National Currencies Before Issuing Common One
1.5.2023
The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National...
BRICS ‘Getting Applications to Join Every Day,’ Attracts 19 Requests Before Summit
25.4.2023
Over two dozen nations have applied for BRICS membership ahead of its upcoming annual summit, the representative of the hosting nation revealed in an interview. The organization which unites leading emerging economies will discuss its enlargement in early June. BRICS to Talk Expansion as Number...
India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade
8.3.2023
On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S....
Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar
20.2.2023
Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies—Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations—are “coalescing against the dollar.” Schectman believes that...
Retail Crypto Investors in Emerging Economies Hit Hardest by FTX, Terra Collapses: BIS
20.2.2023
Over $450 billion vanished from the crypto market following the collapse of Terra's coins in May 2022 and another $200 billion was lost following FTX's bankruptcy in November 2022, the report said
Targeting the US Dollar’s Hegemony: Russia, China, and BRICS Nations Plan to Craft a New International Reserve Currency
24.7.2022
While inflation data in Europe and the U.S. has risen significantly higher last month, Russia and members of the BRICS countries revealed leaders in the five major emerging economies are in the midst of “creating an international reserve currency.” Analysts believe the BRICS reserve...
Emerging economies dominate Chainalysis’ 2021 Global Crypto Adoption Index
18.8.2021
The report indicated that worldwide adoption of crypto assets jumped over 1,200%, with peer-to-peer platforms driving cryptocurrency usage in emerging economies
Macro Investor Dan Tapiero Says Crypto Adoption Slow: Emerging Economies Ahead of Developed States
20.10.2020
Bitcoin and gold holder Dan Tapiero, says it is still early to talk of widespread crypto adoption as the proportion of users relative to the rest of the population remains low. Tapiero makes the remarks while referring to a study, which places Nigeria at top of the list of countries with...
Low Interest Rates Provide Precarious Protection Against Crisis, World Bank Warns
10.1.2020
The latest global debt wave is the largest in the past five decades, the World Bank has acknowledged in a new report. The international institution notes that previous waves of broad-based debt accumulation lead to widespread financial crises. Historically low interest rates this time might not...
Blockchain Can Boost Economic Growth in Emerging Economies: Ex RBI Governor Raghuram Rajan
7.11.2019
Former eminent governor of Reserve Bank of India, Dr. Raghuram Rajan, said here on Thursday that technology such as blockchain and digital assets can play a significant role in boosting economic growth, raising financial inclusion, and transforming businesses in emerging economies all across...