BRICS states should support their IT-companies and open their markets to each other in order to challenge the US monopoly in the sphere, Russia’s minister of Communications and Mass Media said at the first meeting of the BRICS Communications Ministers.
As the BRICS/SCO summits wrap up in Russia, RT looks back at the issues dominating three days of meetings with a launch of $100bn reserve currency pool, high hopes about the New Development Bank and the possible impact of Iran deal on oil among them. About 10,000 visitors gathered at the two events, the BRICS […]
BRICS is gaining momentum as an increasingly effective organization and its New Development Bank is likely to become new source of funding for the current infrastructure gap, South Africa’s Trade and Industry Minister Rob Davies told RT. There’s a need for more development banks in the world involved in more developmental finance, the minister said […]
WikiLeaks has published secret “core text” related to the controversial trade agreement currently being negotiated behind closed doors between the US, EU and 23 other countries. Big corporations look to be the biggest winners in the deal. Leaked documents of TiSA (Trade in Services Agreement) negotiations reveal that the treaty is looking to undermine “governments […]
Russia held US Treasury bills worth $66.5 billion as of April this year, according to the latest monthly report from the US Treasury. That compares with the $116.4 billion held a year ago. From March to April 2015, Russia sold $3.4 billion in US Treasury bonds,reported US Department of the Treasury Monday.
Greece has been invited by Russia to become the sixth member of the BRICS New Development Bank (NDB). The $100 billion NDB is expected to compete with Western dominance and become one of the key lending institutions. The invitation was made by Russian Deputy Finance Minister Sergey Storchak on Monday during a phone conversation with […]
The US may no longer be in control of the global economy, warned former Treasury Secretary Lawrence Summers, urging Washington to regain dominance by honoring commitments and stopping its own hypocrisy. China’s establishment of the Asian Infrastructure Investment Bank (AIIB), and Washington’s failure to stop its traditional allies from joining, was a development without precedent […]
When President Putin makes his lightning one-day visit to India, the main thing on his mind will be power. He’ll be discussing nuclear cooperation and energy when he meets Prime Minister Modi. “Nuclear energy cooperation is one of the pillars of our strategic partnership. We concluded two inter-governmental agreements in this field in 2008 and […]
The BRICS Bank marks a major step to de-dollarization, and a new monetary system. It should replace the western-dominated “predatory casino scheme” that has contributed to world wars and “economic terrorism,” says former World Bank economist Peter Koenig. “A ‘BRICS system’ would offer a healthy alternative to the highly indebted and defunct dollar system, where […]
The eurozone has huge problems and is holding back the global economy from growing, however the world in general is doing ok, Jim O’Neill, former chairman of Goldman Sachs Asset Management, told RT. Europe’s had a hard time economically in the last few years, with 2014 seeing an especially sharp slowdown in growth. What’s behind […]
Washington’s hegemonic position is being threatened by a new global movement that is fast becoming reality, with the BRICS group being a very important component of creating a truly multipolar world, Don DeBar, of CPR News, told RT. On Sept. 26, Indian Prime Minister Narendra Modi arrived in the US for his first official visit […]
The US dollar, the dominant global currency since 1944, may lose some of its luster due to the American-led sanctions against Russia over the turmoil in Ukraine. The greenback has been fading in favor since the global financial crisis in 2008. The US-led sanctions against Russia may have backfired on the US because it threatens […]
A specter is haunting Washington, an unnerving vision of a Sino-Russian alliance wedded to an expansive symbiosis of trade and commerce across much of the Eurasian land mass – at the expense of the United States. And no wonder Washington is anxious. That alliance is already a done deal in a variety of ways:
A historic, long-term deal for the delivery of Russian gas to China that has been 10 years in the making is 98 percent ready, Russia’s Deputy Energy Minister Anatoly Yanovsky has said. All that’s needed are the two countries’ signatures, he added.