Jim O’ Neill, the Chief economist of the multinational investment bank, Goldman Sachs, in 2001 coined the acronym BRIC, which initially stood for Brazil, Russia, Indian and China. At the time, the four countries were reported to have sustained rates of high economic growth and the acronym stood for economic hope about the future of these nations.
South Africa has issued blanket diplomatic immunity to all leaders attending August summit, meaning Russia’s Vladimir Putin will be able to travel to Johannesburg and not fear the country acting on an International Criminal Court (ICC) warrant for his arrest.
4 Nov 2022
Before the war, BRICS had been planning the development of a New Development Bank, Contingent Reserve Arrangement, BRICS payment system and BRICS basket reserve currency.
21 Aug 2022
Nigeria may not have expressly shown her interest to be a member of BRICS, a coalition of five countries motivated to work together for rapid development purposes; but it is clear that such a membership would be of immense benefits to Nigeria, in addition to signposting her as a respectable force in the comity of nations.
2 Aug 2022
Though Nigeria is listed as one of the countries that have expressed interest in joining BRICS, a bloc of five major economies – Brazil, Russia, India, China and South Africa – whose focus...
13 Dec 2021
The European Union (EU) has explained that its resilience in complex crisis programme, funded by Brazil, Russia, India, China and South Africa (BRICS) is meant to improve the livelihoods of internally displaced persons (IDPs) in Yobe State.
7 Aug 2018
The International Labour Organisation (ILO) has lauded the Brazil, Russia, India, China and South Africa (BRICS) to promote social dialogue between governments and social partners.
16 Oct 2016
Indian Prime Minister Narendra Modi urged BRICS leaders Sunday to take a strong united stand against the "mothership of terrorism" in the South Asian region, in a thinly veiled reference to Pakistan.
15 Oct 2016
Indian Prime Minister Narendra Modi and Russian President Vladimir Putin signed lucrative defence and energy pacts on Saturday following talks aimed at reinvigorating ties between the former Cold-War allies.