Intra-BRICS trade is booming, driven by the expanded BRICS+ bloc (now including energy-rich nations like Iran, UAE, Saudi Arabia) and a strong push for de-dollarization, boosting local currency settlements and new payment systems like CIPS. Key themes include diversifying supply chains, enhancing South-South cooperation, developing local payment systems (NDB, CIPS), and fostering tech/industrial integration to reduce reliance on Western markets, with total intra-bloc trade already exceeding US$1 trillion and growing significantly. Navigate the BRICS business framework. Find news on economic cooperation, the New Development Bank, and joint investment projects. Essential for businesses leveraging the powerful BRICS economic bloc.
Indonesia is keen in participating in the BRICS online platform initiative, Indonesian Culture Minister Fadli Zon has stated, in an interview marking the 75th anniversary of the establishment of diplomatic ties between Russia and Indonesia. In October 2024, Olga Lyubimova, the Russian Minister of Culture proposed creating a unified BRICS online platform to share films, […]
Russian President Vladimir Putin has signed an order to hold the InterVision Song Contest in 2025, establishing it as an alternative to Europe’s Eurovision. The event is scheduled to take place in Moscow this autumn. Eurovision, organized annually by the European Broadcasting Union (EBU) since the 1950s, has been subjected to controversary, accusations of prioritizing […]
Russia’s nuclear energy giant Rosatom has offered technology transfer to India for small modular reactors (SMR), as the country looks to boost nuclear energy generation. Rosatom is exploring the feasibility of setting up SMRs in the coastal areas of India, according to Indian media. Rosatom is currently developing India’s largest nuclear energy facility – the […]
In 2024, FESCO shipped more than 16,000 TEU between the Indian ports of Navasheva, Mundra and Novorossiysk via the FESCO Indian Line West (FIL-W) marine service, which is almost 7 times higher than last year. FESCO exported 7,000 TEU, and imported about 9,000 TEU. Currently, two container ships with a total cargo capacity of more […]
Computer scientists from Russia and China have developed a breakthrough algorithm using information from reverse engineering video card accelerators. The algorithm allows gaming GPUs to be used for scientific computing. The innovation was achieved by specialists from Shenzhen MSU-BIT University, which was co-founded by Lomonosov Moscow State University and the Beijing Institute of Technology, and […]
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Russia and India area set to sign off on an labour migration deal, an agreement will permit a flow of skilled Indian workers to Russia, Indian Ambassador to Russia Vinay Kumar has said. New Delhi and Moscow are actively discussing a memorandum of understanding to establish a Migration and Mobility Partnership Agreement, aiming to facilitate […]
The formation of a nine-country ‘Hague Group’ to challenge perceived Western manipulation of the International Court of Justice (ICJ) and the International Criminal Court (ICC) has gone largely unnoticed but is another collective effort to hit back as what they describe as defiance of ICJ orders and attempts by US Congress to hit the ICC […]
The United States President, Donald Trump, has stated on his social media account that he intends to place 100% tariffs on all imports into the United States from BRICS countries if they discontinue using the US dollar in their multilateral trade relations and revert to using their own currencies. In this article we examine the […]
Russian Deputy Prime Minister Dmitry Patrushev met with Algerian President Abdelmadjid Tebboune on Wednesday (January 29) to discuss the increasing bilateral cooperation between the two countries. The talks, aimed at boosting ties in several sectors, including finance, energy, and agriculture, are part of Patrushev’s working visit to Algiers. The meeting came on the same day […]
Russia’s VTB bank plans to expand its services geography in providing international transfers in national currencies during 2025 by adding new countries in Africa, Latin America and Southeast Asia, the Russian state bank’s deputy CEO, Georgy Gorshkov has stated. VTB’s retail customers made 2.1 million transfers in the currencies of friendly countries in 2024, six […]
The Venezuelan President, Nicolas Maduro, has stated that Venezuela is a part of BRICS and the path to join the BRICS group is being cleared. He was speaking during an interview with Brazilian journalist Breno Altman, broadcast by Venezolana de Television TV channel. Brazil had previously blocked Venezuela from joining due to concerns about the […]
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