Wednesday, September 26, 2018

Tag: South Africa

The End of the G-20: Has the Group Outlived Its Purpose?

Over Labor Day weekend, the leaders of the G-20 countries gathered in Hangzhou, China, for their annual summit. Their goal this year: save the good name of globalization, which has recently taken a beating. In the wake of Brexit, the U.S. Republican presidential candidacy of Donald Trump, the rise...

IMF Cuts Global Growth Forecasts on Brexit, Warns of Risks to Outlook

Brexit causes ‘substantial’ increase in economic, political, institutional uncertainty Global forecast for 2017 cut by 0.1 percentage point, to 3.4 percent If not for Brexit, global forecast would have been slightly higher The International Monetary Fund cut its forecasts for global economic growth this year and next as the unexpected U.K. vote...

BRICS Bank inks strategic cooperation deal with China Construction Bank

The New Development Bank (NDB) launched by the BRICS countries on Wednesday signed a strategic cooperation agreement with China Construction Bank, the country’s second-largest lender. “The NDB, as per its mandate, is building partnerships with major banks in its member countries. Cooperation with CCB is important for us, given the key role it...

The Collapse of the Western Fiat Monetary System may have Begun. China, Russia and...

On 19 April 2016, China was rolling out its new gold-backed yuan. Russia’s ruble has been fully supported by gold for the last couple of years. Nobody in the western media talks about it. Why would they? – A western reader may start wondering why he is constantly stressed...

Saudi Arabia’s Deputy Crown Prince Outlines Plans: Transcript

Bloomberg’s Editor-in-Chief John Micklethwait and five other Bloomberg journalists spent five hours talking to Saudi Deputy Crown Prince Mohammed bin Salman in his palace compound in Riyadh. In the wide-ranging interview, Prince Mohammed discussed selling shares of Saudi Aramco, the National Transformation Program, energy markets and U.S.-Saudi relations. Below is...

BRICS Under Attack: The Empire Strikes Back In Brazil

Despite all the fancy anti-corruption rhetoric, the assault on President Rousseff’s leftist government is the result of a coordinated campaign by business interests tied to Washington and Wall Street. NEW YORK — (Analysis) The last decade has seen a remarkable coalescing of non-Western nations in both economic and political partnerships....

China leading world towards global economic recession, warns Citi

A brutal slowdown across emerging markets will hurl the global economy into a fresh recession. A “hard landing” for the Chinese economy will likely lead the world into a recession in the next year, Citi’s global economics team has warned. Analysts at the Wall Street bank believe that a slowdown concentrated...

Why Russia’s turn to China is a mirage

On July 8 and 9, Russia hosts Chinese, Indian, Brazilian and South African leaders at the annual BRICS summit in the Russian republic of Bashkortostan. The conference takes place at a time when Russia's rift with the West over Ukraine has sparked some concerns that Moscow might turn its...

The Bank of International Settlements (BIS): Meet The Secretive Group That Runs The World

Over the centuries there have been many stories, some based on loose facts, others based on hearsay, conjecture, speculation and outright lies, about groups of people who “control the world.” Some of these are partially accurate, others are wildly hyperbolic, but when it comes to the historic record, nothing...

Russia to ratify BRICS currency pool deal soon – envoy

MOSCOW, April 3. /TASS/. Russia intends to become the first country among the BRICS group of the world’s five leading emerging economies to ratify an agreement on the group’s foreign currency reserve pool, Russian Foreign Ministry Ambassador-at-Large Vadim Lukov said on Friday. "An agreement will be ratified soon on establishing...

The BRICS Don’t Like the Dollar-Dominated World Economy, but They’re Stuck With It

The latest summit of the world’s leading emerging markets took more steps toward replacing the U.S.-led global financial system. But change will come very, very slowly. When the BRICS get together for their annual summit — as they did last week in Brazil — they always make a lot of...

What the new bank of BRICS is all about

As World Cup fever recedes, this week in Fortaleza heads of state from Brazil, Russia, India, China, and South Africa (the so-called BRICS countries) agreed to establish a New Development Bank (NDB) at their summit meeting. They will have a president (an Indian for the first six years), a...

China’s Great Wall Motor to Invest in Russia Plant

SHANGHAI—Chinese auto maker Great Wall Motor Co. is planning to build a car factory in Russia even as the auto maker faces setbacks building its brand at home and abroad. In a statement to the Hong Kong exchange Monday, the company said it planned to invest an initial 2.1 billion...

ICBC Agrees to Buy Control of Standard Bank Trading Unit

Industrial & Commercial Bank of China Ltd., the world’s most profitable lender, agreed to buy control of Standard Bank Group Ltd.’s markets unit to expand in trading spanning commodities and interest rates to currencies. Standard Bank, based in Johannesburg, sold 60 percent of the London-based business to ICBC for about...

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