Entries by brics_admin

BRICS bank to boost South African loans by R8.1 billion

The New Development Bank (NDB) has intentions to loan approximately R8.1 billion more to South Africa, in a bid to attain symmetry among BRICS members. The NDB, backed by BRICS, began operations in 2015 to aid infrastructure and sustainable development initiatives in emerging economies. The leaders of the fastest growing economies will be gathering in […]

SA consumer prices rises 4.6% in June

Statistics South Africa confirmed that consumer inflation has increased to 4.6% in June from 4.4% in May, which is due to a hike in housing, utilities and transport costs. Stats SA informed that on a month-on-month basis, inflation rose to 0.4% in June from 0.2% in May. Stats SA’s Patrick Kelly said “Price increase have […]

Cyril’s $100billion target will be reached in a year – Prof Anil Sooklal

A BRICS roundtable gathering heard that the President Cyril Ramaphosa is a South Africa’s greatest salesman and that his leadership style attracts investments. Ramaphosa set a target of $100 billion in local and foreign investment in boosting the economy is modest said Prof Anil Sooklal. Sooklal who is the South African ambassador of BRICS said […]

India, Russia explore avenues to align SCO with UN, ASEAN to address key challenges

India and Russia are exploring avenues to align matters that take predominance of the Shanghai Cooperation Organisation (SCO) with UN and ASEAN to target intercontinental challenges including the terror that is unfolding globally. Growing the SCO’s global outreach was the subject matter of a recent Indo-Russian in Moscow held in the backdrop of India’s participation […]

Brazil presidential candidate Ciro Gomes plans to stop Boeing deal

Brazilian presidential candidate, Ciro Gomes has intentions of terminating a deal of approximately $5 billion between Brazil plane maker Embraer SA and Boeing if he wins the elections. Boeing is aiming at purchasing 80% of Embraer’s commercial aircraft arm, to add to its acquirement of Airbus-Bombardier which would be the largest collection in global aerospace […]

Angola cuts borrowing costs for the first time in four years

For the first time in four years, Angola’s central bank has cut benchmark borrowing costs. The central bank said inflation for the capital city, Luanda, slowed for eight consecutive months, reaching 20% in June from a record-high 42% in December 2016. According to Bloomberg, the rate could fall even lower and the cost of credit […]

US sanctions on Russia could harm India

  The US congress is trying to find ways around the sanctions imposed on Russia by the US. This was done so that the sanction does not affect USA defence contracts with India and other Asian countries. Members of the Trump administration are looking for loopholes so that Asian countries allied with the USA can […]