• Thu
  • Apr 17, 2014
  • Updated: 5:13am


BRICS (an acronym for Brazil, Russia, India, China and South Africa) refers to an association of leading emerging markets. South Africa was added in 2010. 

As developed countries improve, the BRICs stumble

The developing countries of Brazil, Russia, India and China recovered quickly from the financial crisis five years ago. Their spending helped keep a global recession from becoming a global depression.

Now they’re stumbling.

Sunday, 6 October, 2013, 12:54pm

BRICS leaders set up US$100b currency reserve pool

Leaders from Brazil, Russia, India, China and South Africa have agreed to create a US$100 billion pool of currency reserves to guard against financial shocks, Chinese Deputy Finance Minister Zhu Guangyao said.

6 Sep 2013 - 4:16am

BRICS emerging economies to expand co-operation on internet security

Edward's Snowden's revelations about US cybersnooping appear to be pushing its rivals closer together as China and other major emerging economies agree to expand co-operation on internet security.

7 Jul 2013 - 5:50am

How they see it

Making real progress on increasing economic co-operation between the BRICS (an association of leading emerging economies Brazil, Russia, India, China and South Africa) is going to take significant political will, which may not be there.

31 Mar 2013 - 2:08am

Deal involving all parties only way to end Syrian crisis, Xi Jinping tells Mursi

President Xi Jinping says a political solution accepted by all parties involved in the Syrian conflict is the only way to solve the two-year-old crisis. Xi told his Egyptian counterpart, Mohammed Mursi, on the sidelines of the BRICS summit in Durban, South Africa, on Wednesday that Beijing would maintain an objective and just position on the issue and support any plan for a solution accepted by all sides, Xinhua reported yesterday.

29 Mar 2013 - 5:29am

Bid to launch World Bank rival hits stumbling block

After holding talks in Durban, leaders from Brazil, Russia, India, China and hosts South Africa (BRICS) agreed in principle to create a joint infrastructure lender but said further talks were necessary to finalise the plan to launch their eagerly awaited development bank.

28 Mar 2013 - 6:17pm

China and Brazil agree to US$30 billion currency swap deal

China and Brazil agreed to establish a swap line of about US$30 billion in their respective currencies as they work to reinforce the clout of the world's largest emerging markets on a global stage.

28 Mar 2013 - 5:42am 1 comment

BRICS bank will be a recipe either for moral hazard or redundance

Among the overweening initiatives announced this week by the ill-assorted leaders of Brazil, Russia, India, China and South Africa was a pledge to set up a new BRICS Development Bank to finance economic growth in the emerging world.

28 Mar 2013 - 6:31am

BRICS members reach deal on development bank

The BRICS grouping of emerging powers on Tuesday reached a deal to establish a development bank that would rival Western-backed institutions, South Africa’s finance minister said.

28 Mar 2013 - 1:38am

BRICS nations seek to establish rival to World Bank

The grouping of Brazil, Russia, India, China and hosts South Africa is racing to flesh out proposals for an infrastructure-focused lender that would challenge seven decades of dominance by the World Bank.

27 Mar 2013 - 5:44am