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Chinese official to attend BRICS security meeting

BEIJING, Dec. 2 (Xinhua) -- Chinese State Councilor Yang Jiechi will attend the fourth meeting of BRICS senior representatives on security issues in Cape Town, South Africa from Dec. 5 to 9. Foreign Ministry spokesman Hong Lei made the announcement at a regular press briefing on Monday. According to Hong, Yang will also visit Iran. The BRICS nations refer to Brazil, Russia, India, China and South Africa.

China urges India not to complicate border issue

BEIJING, Nov. 30 (Xinhua) -- China urged India on Saturday to refrain from moves that complicates boundary issues and work with China to create conditions for talks. Foreign Ministry spokesman Qin Gang made the comment when asked about Indian President Pranab Mukherjee's visit to the so-called "Arunachal Pradesh" from Nov. 29 to 30. China's stance on the disputed area on the eastern part of the China-India border is consistent and clear, Qin said.

S. Africa to explore investment opportunities in Russia

S. Africa to explore investment opportunities in Russia JOHANNESBURG, Nov.28 (Xinhua) -- The South Africa government will send a delegation comprising business people to Russia, a fellow BRICS country, to source investment opportunities, the Department of Trade and Industry said on Thursday.

S.African economy faces stark problems: Goldman Sachs

South Africa has made strides in mending its economy since the end of apartheid two decades ago but is lagging behind comparable countries and faces momentous challenges, Goldman Sachs warned on Monday. As the Rainbow Nation heads for its 20th birthday next year, the US-based investment bank cautioned that high levels of youth unemployment have scuttled the dreams of millions and must be dealt with. At least seven million people are unemployed, around one in three of the workforce. Some 85 percent of black South Africans remain poor, the report stated.

Global carmakers need to look beyond 'BRICs' for growth: study

TROY, Michigan (Reuters) - Global automakers must look beyond China, India, Russia and Brazil to other clusters of emerging countries if they want to get their share of growth worldwide, a consulting firm said on Tuesday. The countries beyond the four large markets known collectively as the BRICs, a name derived from the first letters of each nation, will account for one-fifth of global new-vehicle sales by 2020, according to a report released by Boston Consulting Group.

BRICS may decide on $100 billion fund early 2014: Russia

By Lidia Kelly and Alonso Soto WASHINGTON (Reuters) - The BRICS emerging economies may decide early next year on their $100 billion fund designated to steady currency markets, Russia's Finance Minister Anton Siluanov said on Friday, indicating little progress at the group's meeting in Washington this week. Officials from Brazil, China, India, Russia and South Africa surprised many by starting work last year on the pool and a joint development bank to reshape the global financial architecture long dominated by rich nations.

As developed countries gain momentum, the BRICs stumble. Experts see a global spending "void"

NEW YORK, N.Y. - The developing countries of Brazil, Russia, India and China recovered quickly from the financial crisis five years ago. Their spending helped keep a global recession from becoming a global depression. Now they're stumbling.

China, the global auto industry's best hope

At a time when Indian, Russian and Brazilian car markets are stumbling, China remains the major growth engine for the global automotive industry, analysts say. "For many years it's been the Bric nations (Brazil, Russia, India and China) which have accounted for the growth of global sales, taking over from the more mature markets," explains Carlos da Silva, an analyst at IHS Automotive.

China able to cope with Fed policy tapering: central bank head

BEIJING (Reuters) - China will be able to cope with a possible shock if the U.S. Federal Reserve opts to taper its stimulus policy, central bank chief Zhou Xiaochuan said in comments published on Thursday. Market speculation is building for the U.S. Federal Reserve to start tapering its stimulus program as early as this month, with the next Fed policy meeting set for September 17 and 18.

BRICS to commit $100 billion to FX fund, completion a way off

By Lidia Kelly and Alessandra Prentice ST. PETERSBURG, Russia (Reuters) - The BRICS emerging economies will set up a $100 billion fund to steady currency markets, Russia's Vladimir Putin said on Thursday, but it looks unlikely to be in place soon enough to temper the effects of an expected pullback of U.S. monetary stimulus. China, holder of the world's largest foreign exchange reserves, will contribute the bulk of the currency pool. But officials said it would not be functional for some time yet.
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