Tag: Brics summit 2015 - Ufa Russia

• Friday, July 10th 2015 - 07:00 UTC

  Putin announces BRICS development bank and currency reserve pool

  

  Russian President Vladimir Putin said on Thursday that a new BRICS bank would become fully operational and finance energy projects next year as emerging markets attempt to challenge the Western-dominated financial system. BRICS nations -- Brazil, Russia, India, China and South Africa -- which represent 40% of the world's population, agreed in 2013 to establish their own development bank, with estimated capital of $100 billion.

• Thursday, July 9th 2015 - 06:29 UTC

  Brics summit takes off in Russia with an agenda full of economic and political issues

  

  Russian President Vladimir Putin met on Wednesday with his Brazilian counterpart, Dilma Rousseff at the Siberian city of Ufa, where the Brics group summit is taking place. Previously, Putin had met with president Xi Jinping (China); Jacob Zuma (South Africa) and Indian Prime Minister Narendra Modi, the five countries that make up the group.