SCO & BRICS latest news and insights
By Rhod Mackenzie
Russia has punished five Ecuadorian banana suppliers and has started purchasing bananas from India for the first time. Ecuador has been the main importer of bananas to Russia until now. It is unclear why Ecuador held on to its monopoly status for so long and why Russia only now b...
By Rhod Mackenzie
Russia accounts for 3.2% of the world's gross domestic product (GDP). The World Bank calculates the global GDP in purchasing power parity (PPP).
According to Rosstat, Russia is the fifth largest economy in the world in terms of GDP using P.P.P.
China, the USA, India, and Japa...
By Rhod Mackenzie
Last week, the Finance Committee of the Iraqi Parliament called for an end to the sale of Iraqi oil in dollars in response to US sanctions against Iraqi banks.
According to Oil Price, the committee stated that the US Treasury is using money laundering as a pretext for imposing...
By Uriel Araujo
According to Financial Times, Brazilian imports of diesel from Russia last year skyrocketed, with a staggering 4,600 per cent increase pertaining to total value - from $95 million worth of diesel purchases in 2022 to $4.5 billion. Purchases of fuel oil in turn rose by about 400 pe...
By Mohamed Al-Kazzaz
Vladimir Kazbekov, the vice President and CEO of the New Development Bank (NDB), was in Cairo to launch the bank’s operations in Egypt.
Established in 2015 by the BRICS group of countries consisting of Brazil, Russia, India, China and South Africa, the NDB is a multilateral...
Over the past year, the BRICS economic alliance has grown notably in its prominence. Indeed, the bloc enacted its first massive expansion since 2001, inviting six nations to join its ranks. Subsequently, amid that expansion, the BRICS alliance is predicted by Goldman Sachs to dominate global GDP by...
