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Showing posts from August 25, 2023

Analysis: Investors see long wait for enlarged BRICS' economic boon

resident of Brazil Luiz Inacio Lula da Silva, President of China Xi Jinping, South African President Cyril Ramaphosa, Prime Minister of India Narendra Modi and Russia's Foreign Minister Sergei Lavrov pose for a BRICS family photo during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa, on August 23, 2023   Investors sceptical larger BRICS will lead to investment boom Saudi Arabia, UAE, Iran among those joining club Fuels speculation oil producers to switch to non-USD trade JOHANNESBURG/LONDON, Aug 25 (Reuters) - The  expansion of the BRICS  group of developing countries could provide a lifeline to capital-starved new entrants Iran and Argentina, but investors and analysts say a broader economic boon for the bloc's members is far from certain. Leaders of the BRICS - Brazil, Russia, India, China and South Africa - invited the two as well as Saudi Arabia, the United Arab Emirates (UAE), Ethiopia and Egypt into the club at a summit this wee...

India hopes to conclude free trade deal with Britain this year, finance minister says

India's Finance Minister Nirmala Sitharaman speaks during a press conference after a G20 Finance Ministers' and Central Bank governors' meeting at Gandhinagar, India, July 18, 2023.   NEW DELHI, Aug 25 (Reuters) - India hopes to conclude talks over a free trade deal with Britain by the end of this year, India's finance minister Nirmala Sitharaman said on Friday, amid consensus on broad contours of the pact meant to boost economic growth and jobs. Sitharaman spoke as Britain's trade minister Kemi Badenoch visits India for a G20 meeting, after free trade talks  have gathered momentum  in recent months. "I won't be wrong in saying a free trade agreement with UK is very close," Sitharaman said at an industry conference in New Delhi. While there isn't a deadline to close the deal, India is committed to "a good outcome at the fastest possible speed", its trade minister Piyush Goyal said at a separate press conference on Friday. In a panel sessi...