The New Development Bank plans to lend as much as $780 million to Eskom Holdings SOC Ltd. for infrastructure projects this year as the ailing South African power utility battles to keep power supply steady.
Eskom, which on Wednesday entered … Read the rest
Africa’s ambitious infrastructure built programme is expected to get a boost from the BRICS New Development Bank.
The new bank was launched in Moscow ahead of the 7th BRICS Summit which starts in the city of Ufa on Wednesday evening. … Read the rest
South Africa and Russia signed two memoranda of understanding on nuclear power co-operation on Wednesday, part of efforts by Africa’s most advanced economy to lessen its reliance on coal and overcome power shortages that threaten economic growth.
The agreements, signed … Read the rest
Security issues are an important sphere in the activity of BRICS member states (Brazil, Russia, India, China and South Africa) and they are related to the challenges the world community is currently facing, Russian President Vladimir Putin said on Tuesday … Read the rest
Russian Deputy Finance Minister Sergei Storchak spoke with Greek PM Alexis Tsipras today, proposed that Greece become 6th member of New Development Bank set up by Brazil, Russia, India, China, South Africa, a Greek govt official says in e-mail to … Read the rest
Western “colonial” states are not interested in South Africa’s development, but rather want to take its natural resources and never give anything back, pres. Jacob Zuma, told RT. It’s China’s investment that Zuma sees as a way to prosperity.
“The … Read the rest
Deputy vice-chancellor Sandra Klopper says the University of Cape Town is heading for curriculum reform in faculties to strengthen cooperation with BRICS countries.
“Informed teaching has led to the strengthening of South-South relations with academics in Brazil, India and other … Read the rest
Grand plans have been outlined for the BRICS emerging market nations as Russia begins its presidency of the group on Wednesday.
Transforming the BRICS assembly of Brazil, Russia, India, China and South Africa into “a full-scale mechanism of strategic interaction … Read the rest
Washington’s EU vassals might be finding their backbone. Britain, Germany, France, and Italy are reported to have defied Washington’s orders and applied to join the Chinese-led Asian Investment Bank. Australia, Japan, South Korea, Switzerland and Luxembourg might also join.
Washington … Read the rest
The Obama administration accused the UK of a “constant accommodation” of China after Britain decided to join a new China-led financial institution that could rival the World Bank.
The rare rebuke of one of the US’s closest allies came as … Read the rest
Following the Duma, or Russian Parliament, President Vladimir Putin has signed the ratification of a law that sanctions Russian participation in the $100 billion BRICS Bank on Monday.
The BRICS bank, Putin has said, “will become one of the largest … Read the rest
Business and diplomatic travellers from South Africa’s BRICS partners will receive port of entry visas into the country, Home Affairs Minister Malusi Gigaba said on Thursday.
“I have approved the issuance of port of entry visas to BRICS business executives … Read the rest
The Russian State Duma has ratified the $100 billion BRICS bank that’ll serve as a pool of money for infrastructure projects in Russia, Brazil, India, China and South Africa, and challenge the dominance of the Western-led World Bank and the … Read the rest
Russia is set to ratify an agreement on the creation of a bank for the BRICS bloc of large emerging economies this month or in March, the country’s finance minister said.
The establishment of the development bank, aimed at providing … Read the rest