THE WORKING GROUPS
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2018 RESULTS ( IN USD MILLIONS )
IN THE NEWS
India’s 300km/h bullet train.
India has been planning to build a bullet train; the project cost $15 Billion and was designed to drive infrastructure growth in the country. Unfortunately the project has been met with resistance and delays.
To date only 0.9 hectares of land have been purchased by the government with 1,400 hectares needed for projects completion. The bullet train was planned to link Mumbai with Ahmadabad spanning a 500km line and was also a huge leap forward for Indian railways.
BRICS-PED organizes BRICS-WEEK in Brazil
As a part of a transaction plan that will position Brazil in the BRICS Presidency in 2019, BRICS-PED establishes the BRICS-WEEK, a platform that will be filled with many activities in Brasilia in November.
The largest bank of Brazil will allow Whastapp transactions.
Customers of Banco do Brasil, which is the largest bank in Brazil, will be able to make transactions through the WhatsApp application. According to The Rio Times, the application will allow customers of the bank to receive 11 services. In particular, the application will allow processing money transfers, making an IBAN code requests (indicating the international account number according to ISO 13616), requesting an issue of a card, finding out the current account balance, investment fund report, and so on.
40 years of China opening and reforms.
The New Development Bank or the BRICS Bank receives AA+ from Standard and Poors.
Standard & Poor’s (S&P) has assigned its ‘AA+’ long-term and ‘A-1+’ short-term issuer credit ratings on New Development Bank (NDB). The outlook on the long-term rating is stable.
“The ratings reflect our opinion that NDB will establish itself as a catalyst in reducing the infrastructure deficits faced by its BRICS members,” the agency said in a press release.
S&P assesses the bank’s financial profile as “extremely strong.”
South Africa hosted the 10th BRICS Summit in Johannesburg with relatively success whether many BRICS’s countries are facing elections this year. The transaction to the second decade of BRICS leads us to a scenario where the group is actually together forever.