BRICS stands for Brazil, Russia, India, China, and South Africa, a group of emerging economies that have formed a unique coalition to reshape the global landscape. Since its inception, BRICS has been ...

The bank, which was set up in 2015 to give BRICS members Brazil, Russia, India, China and South Africa a greater say in financing infrastructure than in Western-led institutions like the World ...

The so-called BRICS countries agreed to form an international development bank with aspirations to challenge the dominance of the World Bank and the International Monetary Fund.

The BRICS group of developing nations is set to announce a new guarantee fund backed by the New Development Bank (NDB) to lower financing costs and boost investment, two people familiar with the ...

The Bank shall have an initial authorized capital of US$ 100 billion. The initial subscribed capital shall be of US$ 50 billion, equally shared among founding members.

That’s because the BRICS bank articles of agreement do not allow the founders’ voting share to fall below 55% - ever, no matter what the bank’s future membership looks like.

The New Development Bank (NDB) set up by the BRICS group of nations said on Thursday it had admitted the United Arab Emirates, Uruguay and Bangladesh as members in its first expansion push.

Brazil, Russia, India, China, and South Africa (the “BRICS”) made a splash last week with the official launch of their new development bank. The backers made no secret of their intention to ...

BRICS bank is offering more of the same rather than breaking the mould Published: May 3, 2017 12:01pm EDT. Misheck Mutize, Sean Gossel, University of Cape Town. Authors.

New Development Bank, the multilateral lender founded by the BRICS group of emerging-market countries, aims to increase the share of funding it raises in local currencies to 30% from less than 20% ...

The five major emerging national economies known by the acronym BRICS will open a development bank by 2016 and create an alternative to the International Monetary Fund to support the bloc's ...

BEIJING (MarketWatch) — There are no surprises, but lots of questions, about Beijing’s espousal of the BRICS bank, launched last week by China as well as Brazil, Russia, India and South Africa.