SCO & BRICS latest news and insights
By Rhod Mackenzie
The proportion of payments made in rubles for exports from the Russian Federation to Europe has set a new record, as revealed by by a report from the Central Bank. In September 2023, over half - 54% - of payments were made in the national currency according to statistics from the...
By Rhod Mackenzie
In October 2023, Russia disappeared from the list of primary centres for yuan settlements via SWIFT. This development has significant ramifications as China is one of Russia's primary trading partners.
Notably, SWIFT is an international document management system employed by fi...
By Rhod Mackenzie
The trade volume between Russia and China is increasing and likely to hit £300 billion by the end of the current decade, according to Andrey Belousov, Russian First Deputy Prime Minister.
Speaking at a conference of the Russia-China intergovernmental commission in Beijing this...
By Rhod Mackenzie
Trade turnover between Russia and China in January-October increased by 27.7% year-on-year to reach $196.48 billion. The General Administration of Customs of the People's Republic of China (PRC) reported this on November 7.
As per published data, exports from China to Russia gr...
By Rhod Mackenzie
Asian stock exchanges were awakened on Wednesday, October 25th by the news from China. The Standing Committee of the National People's Congress (NPC), also known as the Chinese Parliament, has approved a program to support the economy through the issuance of government bonds wort...
By Rhod Mackenzie
The Bank of China (BOC), one of China's four largest state-owned commercial banks, has inaugurated its first branch in Riyadh, the capital of Saudi Arabia.
This move aims to extend the use of the yuan in trade and finance. Analysts have observed that since the recent BRICS Summ...
