SCO & BRICS latest news and insights
The Chinese economy's data for the first two months of 2024 has pleased economists and investors. Retail sales increased by 5.5% in January-February, surpassing the forecast of 5.2% by economists surveyed by Reuters. Industrial production also rose by 7%, exceeding the forecast of 5%. Investments in...
By Manish Vaid
The trajectory of India’s oil demand growth reflects the shifting contours of the global energy landscape. The Organization of Petroleum Exporting Countries (OPEC) estimates India’s oil demand in 2024 at 5.59 million b/d, a marginal rise from 5.37 million b/d in 2023.
India’s oil i...
By Rhod Mackenzie
Shipping via the sea lanes forms the backbone of trade corridors between the European Union and China, accounting for 90% of trade. According to Eurostat, imports from China in 2022 amounted to 627 billion euros, and exports amounted to 234 billion euros. The largest importer of...
By Rajiv Bhatia
On 1 January 2024, the chairship of BRICS shifted from South Africa to Russia, with a full agenda in tow. BRICS, a multilateral forum of five nations – Brazil, Russia, India, China, and South Africa – made history by accepting the applications of six other states – Argentina, Saudi...
By Herbert Poenisch
In January, five new members joined the Brics bloc: Saudi Arabia, the United Arab Emirates, Egypt, Iran and Ethiopia. This means that five new currencies are in the pot for payments and mutual holdings, joining those of Brazil, Russia, India, China and South Africa.
The Brics...
By Ahmed Adel
On Monday, Union Commerce and Industry Minister Piyush Goyal said that many large and small economies around the world have expressed willingness to start trading in rupee terms with India, which could be a “game-changing” development for India’s trade. This is another important step...
