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  1. Comment - Insight & Opinion - MY TAKE

    Do we need a BRICS development bank?

    Posted Jul 17th 2014, 04:45am by Alex Lo

    ... to create the Shanghai-based BRICS development bank. The aim is to create an alternative to the Western-dominated International Monetary Fund and World Bank. Along with the new bank, the five ... crowded. There is bound to be duplication of effort and resources, leading to waste. The BRICS summit in Brazil said the bank would help "emerging and developing nations mobilise resources ...

  2. Business - Economy - ECONOMY

    World Bank chief backs launch of BRICS bank

    Posted Jul 09th 2014, 05:20am by Victoria Ruan

    ... of the BRICS Development Bank. President Xi Jinping also broached the idea in October last year to set up a US$50 billion Asian Infrastructure Investment Bank to finance projects in the region. ... be massive, with such funding needs in developing countries estimated at US$1 trillion a year, while the World Bank alone could only offer US$60 billion last year. Xi will attend the sixth BRICS ...

  3. Business - Banking & Finance - JAKE'S VIEW

    Losers' Clubs spend good money on bad ideas

    Posted Jul 10th 2014, 04:55am by Jake Van Der Kamp

    ... of the BRICS Development Bank. SCMP Business, July 9   Translation: the Losers' Club wishes to squander even more of the scant capital resources of its member governments by funding vanity ... in Tokyo. This new BRICS Development Bank will be no better. The only difference is that China, not Japan, will be top dog and get the export edge. They didn't actually like that in New Delhi. ...

  4. Business - Economy

    As developed countries improve, the BRICs stumble

    Posted Oct 06th 2013, 12:49pm by AP

    ... and developing countries would finally be strengthening together as they did before the crisis. Now, hopes for a healthier worldwide economy have been dashed. The reasons for the slowdown in the BRICs, as the four biggest developing countries are known, are myriad, from a pullback in bank lending in China to crumbling infrastructure and rampant corruption in India. One constant: The cost of living ...

  5. News - China - BRICS

    BRICS group of nations sets up development bank to rival IMF, World Bank

    Posted Jul 16th 2014, 09:36am by AFP

    ... agencies for flaws in the global financial system. "The plans of the emerging-market bloc of BRICS to establish a development bank usher in a long-awaited and helpful alternative ... billion development bank by granting China its headquarters and India its first rotating presidency. Brazil, Russia and South Africa were also granted posts or units in the new bank. The leaders ...

  6. Business - Economy

    Is South Africa the odd BRIC out?

    Posted Mar 21st 2013, 12:40pm by AFP

    ... will lead discussions on the establishment of a BRICS development bank and a range of other issues. But some question whether Zuma should even be at the table, never mind sitting at it’s head. South ... in global issues.” In South Africa, the BRIC nations get a democratic African voice that echoes their discontent with existing western-dominance of global institutions like the UN, World Bank ...

  7. Business - Economy - SOCIETY

    Discontent hits BRIC nations as economic growth slows

    Posted Jul 24th 2013, 12:00am by Bloomberg

    ... (BRIC) have been slowing since 2010. Developing countries were punished more during downturns than their European counterparts, because they depended on growth to mitigate social tensions, said ... Bloomberg in Moscow and Brasilia Economic weakness pressures governments amid reliance on growth to ease social tensions Discontent hits BRIC nations as growth slows Stretched budgets ...

  8. Business - Banking & Finance - DEVELOPMENT

    Competing interests between BRICS nations could lead to challenges for new bank: analysts

    Posted Jul 21st 2014, 03:18am by Daniel Ren, Teddy Ng, KRISTINE KWOK

    ... for Policy Dialogue at Columbia University, said huge infrastructure needs in the developing world provided room for more institutions like the BRICS bank. "We talk about competition ... in the developing countries' best interests, the new bank might offer an alternative that is more sympathetic to such clients. "They [BRICS countries] may have more sympathy to developing ...

  9. Business - Economy

    BRICS eye political capital with US$150b deal on new reserve fund and bank

    Posted Jul 15th 2014, 01:31am by BLOOM

    ... with new reserve and bank The leaders of five of the world's largest emerging markets will showcase a new currency reserve fund and development bank this week. Critics say neither is enough to revive the group's waning clout. Brazil, Russia, India, China and South Africa, known as the BRICS, will approve the creation of the US$100 billion reserve fund and US$50 billion bank ...

  10. Business - Economy - MACROSCOPE

    BRICS not a firm foundation for a new global economic order

    Posted Jul 23rd 2014, 01:33am by BLOOM

    ... Pankaj Mishra Bloc's development bank cannot challenge Western ascendancy until its leading country China makes transition to a consumer economy BRICS not a firm foundation for new ... that could plausibly challenge the long geopolitical and economic ascendancy of the West. The New Development Bank, headquartered in Shanghai, would finance infrastructure and development projects. ...




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