SCO & BRICS latest news and insights
By Rhod Mackenzie
The Mir card, CNAPS, and CIPS are financial messaging systems used for national domestic and cross-border interbank payments in Russia, China, and Iran respectively. These systems were seen as potential alternatives to the Western-dominated payment systems. However, this percepti...
The International Energy Agency (IEA) predicts that China will produce one-third of the world's electricity next year. China's ever expanding power grid is driving growth in its manufacturing industry, which in turn affects the economies of its trading partners such as the USA, Europe, and Japan. Fu...
By Rhod Mackenzie
Polymetal Int has agreed to sell its Russian business for $3.69 billion. The deal is expected to closed by the end of March 2024, subject to regulatory approvals and approval by the shareholders' meeting, which will be held on March 7, 2024 in Astana (Kazakhstan).
The sale of 1...
By Rhod Mackenzie
According to a statement released by the Ministry of Foreign Affairs earlier this week, Egypt intends to negotiate a transition from the US dollar to national currencies for trade settlements with other BRICS countries.
The ministry stated that using national currencies would r...
By Rhod Mackenzie
According to Patricia Alonso Lopez, Vice-President of the National Assembly of the Republic of Arling, Nicaragua is interested in joining BRICS and developing relations with Russia. The Central African Republic has also expressed interest in cooperating with the association. Albe...
By Rhod Mackenzie
Trade between India and Russia reached a record $54.7 billion. The majority of this volume comes from Russian exports. As a result, the Russian Federation has accumulated rupees, which are difficult to convert. The solution to this problem is increasingly being cited as reinvestm...
