SCO & BRICS latest news and insights
The Russian Deputy Prime Minister Alexander Novak announced on February 20th, during a plenary session at the International Exhibition and Forum 'Russia' at VDNKh, that global oil demand will continue to grow until at least 2040.
'Novak noted that despite some people cl...
According to a Russian Chamber of Commerce and Industry report new car brands, including those from Iran and India, may soon enter the Russian market. African producers have also expressed interest, but China remains the dominant player. This article questions whether these new brands can compete wi...
By Rhod Mackenzie
The year 2023 proved to be challenging for the Russian gas industry due to the loss of a significant portion of the European market, falling prices, and a subsequent reduction in production volumes, export profits, and gas industry revenues. In 2024, the industry is expected to f...
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 Emil Boev
The Bretton Woods system was created in 1944 and gave the American dollar an unprecedented role as the world's reserve currency. It also established a fixed exchange rate between the dollar and gold, with approximately one gram of gold per dollar. Individuals were able to exchange pap...
