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BRICS stands for Brazil, Russia, India, China and South Africa, who are the original members of the intergovernmental organization that first aimed to highlight international investment strategies.
The expansion of Brics to include Saudi Arabia, which is the top oil exporter in the world and the bloc’s biggest trading partner in the Middle East, is expected to see the group of countries ...
The bloc of emerging market nations known as BRICS—which currently includes Brazil, Russia, India, China, and South Africa—is expanding its membership for the first time since 2010.
BRICS countries committed to study the feasibility of a new common currency or similar, at the 2023 BRICS summit in South Africa. [ 112 ] [ 113 ] [ 114 ] Fair and easier international trade , as well as a major reduction in costs of transactions , would be some of the reasons for the countries to forge a currency union.
The BRIC countries started meeting formally in 2014 to improve economic cooperation, and added South Africa in 2010 to become BRICS. The bloc now seems to have loftier geopolitical ambitions.
Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have confirmed they are joining the BRICS bloc after being invited last year, South Africa's Foreign Minister Naledi Pandor said on ...
Egypt hopes its imminent inclusion in the BRICS bloc of developing nations will help ease its shortage of foreign currency and attract new investment, but analysts say it may take time before any ...
WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab ...