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The Latest Breaking News from BRICS

A BRICS currency replacing the dollar is a ‘ridiculous’ idea, says the top economist who named the group—unless China and India become allies

Jim O’Neill coined the term BRIC when he worked at Goldman Sachs in 2001, and he’s blasting the idea of a BRICS currency. “It’s embarrassing almost.”

Fortune

BRL/USD: Is Brazil’s Currency a Buy Against the U.S. Dollar?

Brazil’s currency, the real, declined steadily from 2011 through 2020. Over the past three years, the real has been edging higher against the U.S. dollar but has yet to break out on the upside. Since the trend is always your best friend, buying the real could be the optimal approach…

Barchart

Why Does Platinum Keep Failing?

Platinum is a rare precious metal with significant industrial applications, but over the past years, that has not helped the price. While gold and palladium rose to all-time highs in 2022, platinum could not manage a rally to anywhere near the 2008 record peak. After attempting to move above the…

Barchart

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No decision yet, says Russian diplomat on Putin attending G-20 summit

Russia's Deputy Chief of Mission says decision on President Vladimir Putin's attendance at G-20 summit not taken yet. BRICS members working on settlements in national currencies, including single currency proposal. BRICS agenda closely corresponds to G-20 priorities.

The Hindu

The grammar of commerce in a new age of geopolitics

The prevalent geo-economic scene has also led to further settlements in local currencies

The Hindu

Ukraine war: talks in Jeddah give Kyiv an opportunity to push its ten-point plan to Brics and the global south

As the war in Ukraine escalated on and beyond the existing battlefields with intensified air, drone and ground operations, more than 40 countries met in Jeddah, Saudi Arabia, over the weekend of August 5-6 2023, to discuss peace.

The Conversation

An expanded BRICS could reset world politics but picking new members isn’t straightforward

Eager to escape perceived western domination, several countries – mostly in the global south – are looking to join the Brics bloc. The five-country bloc (Brazil, Russia, India, China and South Africa) is also looking to grow its global partnerships.

The Conversation

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Russia-Ukraine war: Kyiv claims to have put a Russian Black Sea ship out of action – as it happened

Moscow has confirmed Ukrainian sea drones attacked a navy base near the Black Sea port of Novorossiysk

The Guardian - AU

Morning digest | Govt, opposition try to end standoff over Manipur debate; PM Modi to attend BRICS summit in Johannesburg this month, and more

Read a daily selection of top stories from across India and the world by The Hindu to start your day.

The Hindu

PM Modi to attend BRICS summit in Johannesburg later this month

Prime Minister Narendra Modi on Thursday, August 3, 2023 confirmed to South African President Cyril Ramaphosa that he will be travelling to Johannesburg to attend the August 22-24 BRICS summit

The Hindu

Brazil's Lula voices support for more countries joining BRICS group

Brazilian President Luiz Inácio Lula da Silva says he supports more countries joining the BRICS group of large developing nations, which currently includes Brazil, Russia, India, China and South Africa

The Independent UK

Putin is downplaying skipping South Africa summit amid ICC warrant controversy

Russian President Vladimir Putin on Saturday appeared to downplay not attending an economic summit in Johannesburg next month amid a controversy over an arrest warrant issued against him by the International Criminal Court

The Independent UK

Modi and Xi reached consensus at Bali, claims China as NSA Doval delivers tough message on LAC

At Bali dinner, PM Modi & Chinese President Xi Jinping reached "consensus" to restore bilateral ties, claimed China. Doval & Wang Yi met in Johannesburg to discuss LAC standoff & restoring peace & tranquillity.

The Hindu

BRICS Common Currency Unlikely At Upcoming Meeting, Dollar Bulls Relieved

BRICS nations' plan for common currency unlikely to materialize, providing relief for dollar bulls.

Zenger

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Barchart

The U.S. Dollar Continues to Weaken; How Low Will it Go?

The U.S. dollar has been the world’s reserve currency for decades. The dollar index measures the U.S. foreign exchange instrument against the other reserve currencies. Meanwhile, a dramatic shift in the geopolitical landscape could reduce the dollar’s dominant role, causing the index to drop and become less significant in global…

The Hindu

Morning Digest | Opposition demands debate on Manipur in Parliament; police promise arrests after Manipur sexual violence video emerges, and more

Morning Digest, July 20, 2023 | Opposition demands debate on Manipur; police promise arrests in sexual violence case; Putin won't travel to BRICS summit; SC to list pleas to criminalise marital rape; Nitish denies being upset; BJP bets on small parties, and more

WEKU

Putin won't attend a South Africa summit next month, avoiding possible arrest

South Africa says Russian President Vladimir Putin will not attend the BRICS summit it's hosting in August, putting an end to questions over whether it would act on an arrest warrant for Putin.

The Week

Putin skips South Africa summit: will anyone arrest Russian president?

Vladimir Putin will not attend a summit in South Africa next month, ducking the possibility of arrest on an International Criminal Court (ICC) indictment.

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Al Jazeera

Putin to miss BRICS summit by mutual agreement, South Africa says

Putin’s absence at the summit has been announced by the South African presidency, ending months of speculation.

The Independent UK

South Africa says Putin will skip a summit next month because of his ICC arrest warrant

South Africa says Russian President Vladimir Putin will not attend the BRICS economic summit in Johannesburg next month

Barchart

Chinese Stocks Offer Compelling Value But are They Worth the Risk?

Tensions between Washington, DC, and Beijing have weighed on Chinese stocks trading on foreign exchanges. Investors continue to be wary of the many risks in investing in Chinese equities even though they offer value.

The Hindu

We want to make it easier for Indians to be able to travel into UAE or elsewhere: UAE envoy

UAE-India trade is growing, but travel between the two countries is hindered by an Air Service Agreement impasse. Abdulnasser Alshaali, UAE Ambassador to India, said in an interview to The Hindu that the two countries are working to resolve the issue.

The Hindu

Rupee-dirham deal is bilateral, not about resolving Russia payments issue: UAE Envoy

UAE Ambassador to India Abdulnasser Jamal Alshaali says India-UAE rupee-dirham deal is bilateral, not to de-dollarise global economy. Deal to lower transaction costs, ease path for trade b/w India and UAE. India-UAE trade increased 15% since implementation of Comprehensive Economic Partnership Agreement. UAE committed to supporting India's G20 presidency, wants…

Radio France Internationale

Algerian president in China to push bid to join BRICS group of emerging markets

Algerian President Abdelmadjid Tebboune starts a four-day visit to China on Monday as part of an effort to joint the BRICS group of emerging markets.

The Independent UK

Putin wants to attend an August summit. Host country South Africa doesn't want to have to arrest him

South Africa's deputy president says Russian President Vladimir Putin wants to attend an economic summit in South Africa next month but the country is trying to persuade him to stay away to avoid the legal and diplomatic fallout over his international arrest warrant

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