Finance

G20 Countries Interested In Joining BRICS New Development Bank

BRICS, Economy, Finance, Trade

Brazil, which is hosting the upcoming G20 annual meetings in Rio de Janeiro from 18–19 November, has made the BRICS New Development Bank (NDB) a G20 partner for 2024. Several G20 countries could subsequently join the bank, according to Russian Foreign Ministry Ambassador Marat Berdyev. The G20 includes Argentina, Australia, Brazil, Canada, China, France, Germany, […]

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Russia, Iran Connect National Financial Settlement Networks

BRICS, Economy, Finance, Infrastructure, Trade

Russia and Iran have completed the pairing of their national payment systems, which will allow travelers from the two countries to use their domestic debit cards for purchases in either Iran or Russia. Both countries are currently suspended from the SWIFT international payments system, with the non-SWIFT pairing of Russia and Iran significant as it

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GDP

Russia’s Central Bank Forecasts Russia’s 2024 GDP Growth To Be 4%, Details Anticipated 2025, 2026, 2027 Growth Rates

Economy, Finance

The Central Bank of Russia’s (CBR) forecast for Russian GDP growth during 2024 is 3.5% – 4%, however, the final estimate for economic growth this year could exceed 4%, according to Kirill Tremasov, an advisor to the CBR governor. Tremasov, speaking at the Russian Economic Forum in Chelyabinsk, stated that “In 2023, Russia’s GDP growth

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What A Trump Presidency Will Mean For Russia – Part Two – Sanctions, Nuclear Weapons & Trade

Finance, Security, Trade

Part Two – Sanctions, Tariffs, Security, Technology and Bilateral Trade Sanctions During Trump’s first Presidency (2017-2021) as Russian President Putin has wryly noted, Trump placed Russia under more sanctions than any previous President had. Although that record has now been overtaken by the now-outgoing President Joe Biden, Trump is fully aware of the benefits of

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IPO image

Russia’s 2024 IPO Market Booms With The Average 5 Times Over-Subscribed 

Economy, Finance, Investment, Trade

During this year, a long-awaited IPO boom has occurred in the Russian market. In less than a year, 14 new issuers placed their shares on the open market, and another began collecting applications — the best result since 2007. Driving this are institutional investors, but increasingly private investors are also now involved. For 2025, Russian

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Russia’s Globaltrans Delists From London, Relists In Astana 

Economy, Eurasian Economic Union, Finance, Investment, Trade

The major Russian cargo carrier Globaltrans is to leave the London Stock Exchange (LSE) on November 22, and has already relisted in Astana, Kazakhstan. The company is one of Russia’s largest rail transport groups, and is focused exclusively on the freight logistics sector in Russia and the Commonwealth of Independent States (CIS), providing services for

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BS

Bank of International Settlements Poised To Cease Cooperation With mBridge

BRICS, China, Economy, Finance, Trade

The Basel-based Bank of International Settlements (BIS) is poised to drop cooperation with the mBridge financial settlements system, in a move that would delay the introduction of any alternative financial settlements system to SWIFT. mBridge has been developed by the Central banks in China, Thailand, Hong Kong, and the UAE, and has recently and successfully

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UAE Investment Fund Buys 6.86% Of Moscow Stock Exchange

BRICS, Finance, Foreign Investment, Middle East

The UAE investment company Fundament Capital Investment Management has purchased 6.86% of the shares in the Moscow Stock Exchange (MOEX), acquiring them from the American State Street Bank and Trust Company. MOEX said that Fundament Capital received 156,177,798 shares on September 30. The main shareholders of Moscow Exchange are now the Bank of Russia (11.7%),

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Kazan Declaration

BRICS 2024 Heads of State ‘Kazan Summit Declaration’ – Contents & Analysis

BRICS, Economy, Finance, Infrastructure, Security, Trade

The 2024 BRICS summit has concluded with a ‘Kazan Summit Declaration’, with 134 points covering 43 pages. The key topics include further development of the association, position on various global issues, sanctions, settlement of regional crises, including in Ukraine and the Middle East, in addition to a comprehensive reform of the United Nations (UN), including

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