Five fastest growing economies, including India, on Wednesday vowed to oppose trade protectionism as they agreed to coordinate their positions in the multilateral fora, including the G-20 and climate change negotiations, to uphold the interests of developing countries.
Overall inflows into emerging market equity funds rebounded during the third week of July as optimism about a recovery in US demand helped many individual equity markets gain between 3 and 8 per cent. The diversified Global Emerging Markets equity funds received $1.08 billion, followed by Asia (excluding-Japan) equity funds which got $973 million.
The 2009 BRIC Services Business Outlook survey by global consultancy KPMG signals an improvement in confidence in April after a sharp drop seen in October, 2008, amid the economic crisis. The BRIC Business Outlook Survey shows that India's service sector is set to grow solidly in proceeding 12 months. A net balance of 31.1 firms foresee their activity levels expanding, up from 15.3 last autumn to 60.3, it stated.
According to an analysis of MSCI Barra indices, a measure of returns from various stock markets across the world for foreign investors, Indian stocks have given the second highest return after Russia among the four BRIC countries during last month. Indian stocks have provided a return of nearly 19.54 per cent in April, while China and Brazilian markets have given 10.87 per cent and 18.89 per cent respectively.
Other world leaders too voiced concern against terrorism and vowed to fight it collectively.
He said South Africa would like to export more value added products to these countries, according to the daily Business Report.
The highlight of the first BRICS Summit on the African soil is the possible setting up of a development bank for undertaking infrastructure and development projects.
Emerging nations -- Brazil, Russia, India and China -- have witnessed a 20 per cent decline in loans taken by companies in the year 2008, largely due to the fall in volumes in the last quarter of the year under review, a latest report says. Syndicated loans are large financing facilities granted to a borrower by a group of financial institutions who share the lending risk between them.
Stock market volatility forced investors across the globe to pull out $24.5 billion from emerging market equity funds in the January-March quarter of 2011, including over $ 2 billion from funds focused on BRIC markets.
South African President Jacob Zuma thanked Commerce Minister Anand Sharma for India's support in the matter, when the two met here this morning. India had been lobbying for South Africa's inclusion.
Prime Minister Manmohan Singh on Monday said that his trip to Durban for the fifth BRICS Summit will be an opportunity for him to not only greet the new Chinese President Xi Jinping personally, but also to discuss how New Delhi and Beijing can maintain the positive trajectory of their relationship.
After BRIC set the ball rolling with investors all over the world, its time for them to dance to the tune of 'CHIME', an acronym becoming a buzzword for China, India and Middle East
As Premier Li Keqiang left Beijing for India, China on Sunday said that if the two Asian giants "tango" together, the BRICS grouping would get a boost and efforts to safeguard the rights of developing countries strengthened.
'Trump's disregard for norms and institutions could prove very costly for America's social fabric.'
The BRICS bank is simply too expensive a proposition for a group of developing countries that includes many who are already overspending domestically.
Sheela Bhatt, who traveled with Prime Minister Manmohan Singh to the BRICS Summit in Durban, gauges the buzz ahead of the event that begins Tuesday.
Pitching for 'zero tolerance" against terrorism, Prime Minister Narendra Modi on Tuesday told leaders of the five-nation grouping BRICS that the "choices" they make now will shape the future of the world at large.
Brazil, Russia, India & China (known collectively as BRIC) on Sunday sought a re-balancing of representation on the executive board and the International Monetary and Financial Committee of the International Monetary Fund (IMF). The committee is the policy-making arm of the IMF.
Even as Foreign Institutional Investors (FIIs) have been selling across markets and pulling out money, their outflow was highest from India in 2011, compared with BRIC peers (Brazil, Russia, India and China) and other emerging markets.
an President Dimitry Medvedev, Chinese President Hu Jintao, Brazil President Dilma Rousseff and South African President Jacob Zuma will participate in the summit hosted by Prime Minister Manmohan Singh.
Pakistani-American businessman Sajid Tarar said like India, Pakistan also needs strong leadership to handle political instability and economic issues.
India had an Internet user base of 243 million in 2014, of which 35 million were online shoppers.
The bank will have initial authorised capital of $100 billion
Emerging markets are likely to overtake developed countries in terms of international acquisitions in the next two to three years, while India has emerged as the most acquisitive among the emerging nations, a latest study says.
Debt levels of BRIC governments -- Brazil, Russia, India and China -- are likely to remain more or less unchanged during the next five years, while it will rise "dramatically" in the US, Japan, and the UK, says a report.
'The challenge before us is to harness the vast potential that exists among us.'
Brazil, Russia, India, China and South Africa came out in the open on Tuesday to oppose the notion that the next Managing Director of the International Monetary Fund (IMF) should be from Europe and argued that such a selection criteria undermines the legitimacy of the fund.
The leaders of the Brazil-Russia-India-China-South Africa grouping on Thursday collectively voiced their opposition to the use of force in Libya and pitched for a central role for the United Nations and regional organisations in resolving the matter.Reflecting on the situation in the Middle East and north African countries at the BRICS Summit, Prime Minister Manmohan Singh observed that there was a "shift of power towards ordinary citizens".
Prime Minister Manmohan Singh arrived in Sanya, China on Tuesday at the Phoenix International Airport to attend the BRICS Summit that will see the formal induction of South Africa as the fifth member of the emerging economies group, which already has Brazil, Russia, India and China as members.
'If you invest in sovereign gold bond, you are going to get the price rise of gold over an eight year period.' 'You're also going to get that two-and-a-half percent which the Government of India is willing to give you, treating the money that you've invested in the sovereign gold bond as a kind of a FD or a deposit.' 'That kind of return you can never get anywhere else.'
Brazil, Russia, India and China - popularly known as the BRIC nations - continue to be the hottest destinations for global investors, a new report from consulting firm Grant Thornton said on Wednesday
Nearly half of the MPs elected in the 2019 general elections in India were first-timers.
He may have spent his entire adult life in diplomacy, but doctorate in nuclear physics Subrahmanyam Jaishankar's face betrays both fusion and fission of his moods.
External Affairs Minister S Jaishankar, who addressed the virtual meeting on behalf of Prime Minister Narendra Modi, also pointed out that in response to the crisis in Gaza, India has sent 70 tonnes of humanitarian assistance and will continue its relief assistance.
Reaffirming the central role of the Group of 20 member nations in combatting and neutralising the impact of the global fiscal crisis, leaders of Brazil, Russia, India and China (BRIC) on Thursday said the grouping is the right forum for resolving the crisis.
Leaders of Brazil. Russia, India and China (BRIC) on Thursday said that they recognised that energy is an essential resource for improving the standard of living of our peoples and that access to it is of paramount importance to economic growth with equity and social inclusion.
We have to be much more rigorous and analytical in assessing the importance of the BRICS, says Parag Khanna.
Indian stocks have emerged as the best performers among the BRIC nations as well as developed markets across the globe, giving investors highest return of nearly 114 per cent in the just concluded 2009-10 fiscal.
According to a survey by PricewaterhouseCoopers, titled, US Private Company Trendsetter Barometer, 51 per cent of US private companies with an international presence plan to do business in BRIC countries in the next one to two years.
Government-owned banks lead the market by size in the BRIC countries -- accounting for 50 per cent of total banking sector assets in China, 40 per cent in Brazil and Russia and reaching 70 per cent in India.
