The bank, however, may not start functioning before 2014 and is likely to have substantially less initial paid-up capital than the amount of $240 billion that is doing the rounds currently.
A change from spin-friendly wickets in India to ones favouring seamers means South Africa's pace attack are keenly looking forward to the Test series against England, which starts on Saturday.
Prime Minister Manmohan Singh on Wednesday met Chinese President Xi Jinping on the margin of the BRICS Summit in Durban, in the first structured high-level contact between the two countries since the change of leadership in China.
Pravin Gordhan, the finance minister of South Africa, says that in spite of several crucial issues still under debate, the BRICS bank was born today.
Ahead of the first meeting between Prime Minister Manmohan Singh and Chinese President Xi Jinping in Durban, China today said such a meeting will help to build mutual trust and cooperation between the two countries.
Finance Ministers of Brazil, Russia, India, China and South Africa, including P Chidambaram, are likely to prepare a report for consideration of their leaders on Wednesday in which they are expected to say that launching a BRICS bank is 'feasible and workable'.
Evidently, something has gone awry in India's regional strategies. Yet, one feels tempted to call this India's "BRICS moment". The Durban summit will show how far India is prepared to go in a new direction. MK Bhadrakumar examines
Jayanthi Natarajan's tough stand ensures recognition abroad, but red-tapism & bureaucracy continue to delay approvals in India.
England all-rounder Moeen Ali differs with coach Trevor Bayliss and believes turning up the stump microphones could curb sledging in cricket.
England will play four Tests, five One-Day Internationals and two Twenty20 matches on a 10-week tour of South Africa during the 2015/16 summer season.
Rampant Nigeria and impressive Burkina Faso will meet in the final of the African Nations Cup at SoccerCity in Johannesburg on Sunday after two highly dramatic if contrasting semi-final victories on Wednesday.
South African team Highveld Lions had threatened Champions League officials with legal action after they made a last-minute change to the playing conditions, which fuelled suspicions that the tournament was favouring Indian teams.
While wicket-keeper-batsman Klaasen recently notched 69 runs from 30 balls in South Africa's six-wicket win over India in the 2nd T20I, 20-year-old Mulder has played a single ODI against Bangladesh at East London in October 2017.
Australia paceman Pat Cummins is eager for banned duo Steve Smith and David Warner to rejoin the national side, saying it feels like they have already spent "five years in cricketing isolation".
South Africa captain Faf du Plessis will begin training on Wednesday as he seeks to prove his fitness ahead of the four-match home Test series against Australia starting on March 1.
The new rules in One-Day International cricket have made it difficult for slow bowlers, Pakistan's experienced leg-spinner Shahid Afridi said on Monday.
May emphasise that the country is back on the fiscal consolidation path by reining in fiscal deficit at 5.2%.
Faf du Plessis will lead South Africa in the three-match Twenty20 series against New Zealand later this month to free regular limited overs skipper AB de Villiers from the burden of captaincy, the cricket board said on Thursday.
South Africa's Deputy International Relations and Cooperation Minister Marius Fransman said this would give a major boost to some of the development needs of these countries.
Before they take the field for the World Test Championship final on Friday, June 18, Rajneesh Gupta takes a look at India-New Zealand Test encounters in the new century.
Ghana and Mali took contrasting routes to join Ivory Coast, South Africa and Cape VerdeIslands in the African Nations Cup quarter-finals on Monday.
South African batsmen will go into the fifth ODI as a more confident unit, having learnt from their mistakes against the Indian spinners.
South Africa closed in on the African Nations Cup knockout stages with a win on Wednesday while debutantsCape VerdeIslands narrowly failed to do the same as Group A came alive after its moribund start.
Kevin Pietersen waged a lone battle but Delhi Daredevils simply lacked the firepower as they lost to Highveld Lions by 22 runs in the first semi-final of the Champions League Twenty20 in Durban on Thursday.
Chennai Super Kings produced a clinical all-round show as they scored a comfortable four-wicket victory over Yorkshire to sign off their Champions League Twenty20 campaign on a winning note, in Durban, on Monday.
The Champions League Twenty20 match between Delhi Daredevils and Auckland Aces was abandoned due to incessant rains in Durban on Friday.
As Ashish Nehra gets set to quit international cricket after the first T20I game against New Zealand in New Delhi this evening, Rajneesh Gupta presents the mighty fast bowler's top five performances.
It really pays to be Unmukt Chand these days. As he discovers, Delhi Daredevils' star players, like Kevin Pietersen, Mahela Jayawardene, Morne Morkel, have enough time to discuss cricketing matters with him.
IPL winners Kolkata Knight Riders were on Wednesday knocked out of the ongoing Champions League Twenty20 after their must-win match against Perth Scorchers was called off due to incessant rain in Durban.
With their backs to wall, a desperate Kolkata Knight Riders will take on Perth Scorchers in a do-or-die penultimate group league encounter in the Champions League T20 in Durban on Wednesday.
Fast bowler Dale Steyn has been ruled out of this week's third test against England in a major blow to South Africa's bid to get back into the four-match series. The shoulder injury which restricted his bowling in the first test and forced him out the second has not healed in time for the third game starting at the Wanderers in Johannesburg on Thursday, Cricket South Africa said on Monday.
Chasing 169 for victory in 19 overs at Buffalo Park, Guptill helped erase the memory of Friday's embarrassing capitulation to 86 all out in Durban with a stunning batting display as the tourists reached their target for the loss of just two wickets to level the series 1-1.
South Africa are still reeling after the first Test setback against England and have drafted in former captain Graeme Smith to assist the side with ideas and their psychological approach.
England paceman James Anderson has been ruled out of the first Test against South Africa with a calf injury, the country's cricket board said on Thursday.
Hard-hitting middle-order batsman David Miller has quit first-class cricket in a bid to concentrate on his limited-overs game ahead of next year's World Cup in England and Wales.
Rajneesh Gupta highlights important numbers featuring the Sri Lankan team from World Cups.
Rajneesh Gupta highlights important numbers featuring the India team from the World Cups.
Delhi Daredevils' batting might would be put through a stern test by the consistent bowling attack of Highveld Lions when the two sides clash in the first semi-final of the Champions League Twenty20 in Durban on Thursday.
Mumbai Indians' disastrous campaign in the Champions League Twenty20 came to an end with their third defeat in four matches as they meekly surrendered to Sydney Sixers by 12 runs at Kingsmead in Durban on Monday night.
Their title defence having ended early with a whimper, Mumbai Indians will look to salvage some of their battered reputation with at least a win when they take on Sydney Sixers in an inconsequential Group B match of the Champions League Twenty20 in Durban on Monday.
