Thailand has recently garnered substantial attention with two pivotal announcements: its bid to join the BRICS economic bloc and its consideration of adopting Ripple’s XRP cryptocurrency. Thailand’s Strategic Aspirations within BRICS The BRICS consortium, comprising Brazil, Russia, India, China, and South Africa, represents a formidable counterbalance to Western-dominated economic structures. Thailand’s pursuit of BRICS membership underscores its ambition to align with some of the globe’s most rapidly expanding economies. Concurrently, the exploration of Ripple’s XRP signifies Thailand’s openness to embracing cutting-edge financial technologies and innovations. Amplifying Thailand’s Economic and Technological Landscape Prominent cryptocurrency personality Armando Pantoja, known on social media…
Author: BRICS+ News Services
Malaysia Joining BRICS+: Manage Your Expectations The global economic landscape is witnessing a period of significant transformation as Malaysia considers joining BRICS+, an expanded version of the BRICS consortium which currently includes Brazil, Russia, India, China, and South Africa. While the potential inclusion marks a significant moment in Malaysia’s diplomatic and economic strategies, experts urge caution in anticipating immediate, significant changes. Historical Context and Need for Caution BRICS was formed in 2009 with the intention of creating a robust economic bloc representing major emerging markets. South Africa’s inclusion in 2010 turned BRIC into the BRICS. The group has since aimed…
In recent statements, Serbian Minister Aleksandar Vulin has vehemently asserted that Serbia no longer sees a viable future within the European Union (EU). Instead, he advocates for an alignment with BRICS, the bloc composed of Brazil, Russia, India, China, and South Africa, as a more suitable alternative for Serbia’s economic and political aspirations. Historically, Serbia has strived for EU membership, believing that integration into the European community would foster economic growth, political stability, and stronger international alliances. However, over recent years, disenchantment has grown due to various perceived political and economic barriers imposed by the EU. These hurdles have significantly…
Russia Hosts BRICS Urbanization Forum Plenary: Emphasizing Sustainable Urban Development Strategies Russia recently convened a plenary session of the BRICS Urbanization Forum, dubbed "Creating Sustainable Strategies for the Development of Urban Environment." This forum forms a crucial part of Russia’s tenure as the BRICS Chair. The high-profile event attracted distinguished delegations, including Brazil’s Minister of Urban Development, Jader Barbalho Filho, Ethiopia’s Minister of Urban Development and Infrastructure, Chaltu Sani, China’s Deputy Minister of Housing, Urban and Rural Construction, Qin Haixiang, and India’s Joint Secretary of the Ministry of Housing and Urban Affairs, Kunal Kumar. These leaders presented their respective national…
In this pool photograph distributed by the Russian state agency Sputnik, North Korea’s leader Kim Jong Un (center) and Russian President Vladimir Putin attend a welcoming ceremony at Kim Il Sung Square in Pyongyang. (Vladimir Smirnov/Pool/AFP) Russia has reshaped the future trajectory of BRICS with a pivotal agreement signed in Pyongyang. However, the inclusion of new members like Malaysia will not alter the core dynamics for South Africa, writes Phillip de Wet. Formally, South Africa and North Korea have upheld diplomatic ties for twenty-five years. Yet, this relationship has been largely superficial, marked by symbolic gestures rather than substantive engagement.…
Shanghai Composite Index Hits Lowest Level Since February Amid Economic Jitters By [Journalist’s Name] (Beijing) – In a disheartening revelation for investors and economic observers, the Shanghai Composite Index plummeted by 1.17%, closing precariously at 2,963.10 points. This figure marks its lowest point since February, heightening apprehensions about the robustness of China’s economic health. Economic Indicators Deepen Concerns China’s stock market has become a flashing beacon of economic distress, with a series of indices painting a grim picture. The blue-chip CSI300 Index endured a slip of 0.54%, while the Shenzhen Index saw a more drastic fall of 2.29%. Not to…
In response to the persistent ethnic-based conflicts in Ethiopia and the government’s support for ethnic politics, a new proposal is being introduced to establish an ethnic quota system in the public service at both the Federal and city administration levels. This move comes as a response to the need for more diversity and inclusion in the public service sector, aiming to create an administration that reflects the diverse composition of the Ethiopian population. The amendment to the existing public service Proclamation 1064/2010 is currently under discussion at the House of People’s representatives. While the exact extent to which meritocracy will…
ONGC Ltd. Enhances Healthcare Infrastructure in Tiruvarur District Through Donation of Binocular Microscopes Tiruvarur, [Date] – In a significant boost to healthcare infrastructure, Oil and Natural Gas Corporation (ONGC) Ltd. has donated state-of-the-art binocular microscopes to 20 primary health centres (PHCs) across Tiruvarur district. The move aims to enhance diagnostic capabilities and improve healthcare services in the region. On a momentous day for healthcare advancement in Tiruvarur, the prestigious donation was officially handed over to District Collector T. Charushree by ONGC’s Chief General Manager of Human Resources, Mr. Ganesan, during a ceremonial event held on Monday. The carefully selected list…
World Bank Infuses $700 Million into Egypt’s Economy Amid Sector Reforms CAIRO, EGYPT – The World Bank announced on Monday an infusion of $700 million in budget support for Egypt, marking a significant step in a broader $6 billion support program committed earlier this year. This financial boost aims to fortify Egypt’s private sector, enhance fiscal resilience, and pave the way for sustainable, green growth. The substantial $700 million tranche is envisioned to stimulate greater private sector participation, bolster macroeconomic stability, and drive Egypt toward a more environmentally sustainable economic model, according to the World Bank’s statement. IMF’s Staff-Level Agreement…
Egypt Secures Significant Financial Commitments at Egyptian-European Investment Conference In a landmark achievement for Egypt’s economic trajectory, the nation clinched a pivotal $1.069 billion agreement with the European Union during the recently concluded Egyptian-European Investment Conference. This development stands as part of a broader commitment from the EU, which involves a €5 billion allocation earmarked for macroeconomic and budgetary support. The initial tranche, secured at the conference, will be disbursed in the latter half of 2024, with the remaining €4 billion scheduled for release between 2025 and 2027. Egypt’s Ministry of International Cooperation, helmed by the astute Rania Al-Mashat, also…