BRICS bank will be headquartered in Shanghai

[SrNair]

What benefits India will get by investing in BRICS bank?

It is a commitment.Commitment to developing nations.We wont act like a western nation in World Bank.But we have some advantage as the owner of this bank.
Shanghai is the right choice.

 

[acetophenol]

Shanghai is the apt location,congrats China!

 

[Viet]

This BRICS bank should help countries like VN and PH, to provide them long-term debt to financing their capital, only if they stop invading China EEZ.

Stop inhaling the smog, otherwise your delusion will worsen. Since when do you get the idea of getting a multinational no-name bank to become a political tool of China?

Keep your money and oil rigs at home!

 

[Sam.]

Stop inhaling the smog, otherwise your delusion will worsen. Since when do you get the idea of getting a multinational no-name bank to become a political tool of China?

Keep your money and oil rigs at home!

Cool down mate it's not chinese bank but it's BRICS country bank and Russia and India also in partnership as well as Brazil and South Africa.

You are also welcome to join.

War is war and business is business as usual.( When you are rich then you don't want to fight war and when you are poor then you look reason to start war)

 

[cirr]

Stop inhaling the smog, otherwise your delusion will worsen. Since when do you get the idea of getting a multinational no-name bank to become a political tool of China?

Keep your money and oil rigs at home!

You should demand the immediate payback of all the loans China has provided your shaky and perfidious government to sustain its control over an unruly ugly bunch。

 

[Jlaw]

BRICS bank will be headquartered in Shanghai
BRICS Post

The much awaited BRICS bank will be headquartered in Shanghai, Kremlin aide Yury Ushakov said in Moscow on Thursday. However, South African Trade and Industry Minister Rob Davies said in Pretoria on Friday that the final stamp on the location of the Bank will be delivered by the Heads of State at the Summit in Brazil next week.

All the BRICS nations apart from Brazil had bid to host the $100 billion development Bank. Both the Bank and a $100 billion contingency reserve fund for the BRICS nations will be launched during the Brazil Summit on 15-16 July.

“Thus, the basis for the macroeconomic coordination of the five states will be laid. The new institutions will allow enforcing the global finance system, which is particularly important amid the IMF reform that reached a deadlock,” said Ushakov.

The location of the Bank has already been recorded in the official documents said Ushakov.

The BRICS countries will initially underwrite $50 billion in capital to the BRICS bank, in equal parts of $10 billion each, said a Brazilian Foreign Ministry official in Rio de Janeiro earlier this week. The $50 billion will be eventually built up to $100 billion.

The Bank will have a rotating chair similar to the BRICS Business Council, although the announcement on the first chairman of the Bank will possibly be announced during the Summit next week.

The five founding members of the new Bank will retain controlling interest should any new members be admitted and the BRICS share will never dip below 55 per cent.

Noted columnist and Russia expert Mark Adomanis says the BRICS Bank is likely to suffer significant growing pains but “the simple fact of its creation demonstrates the shockingly rapid pace of change of the past decade”.

“Ten years ago the creation of such a bank would have been greeted with open derision and laughter in Washington, London, Paris, and other Western capitals. They’re certainly not laughing anymore,” writes Adomanis.

Among all the cities from BRICS, Shanghai makes the most sense.

 

[OrionHunter]

This BRICS bank should help countries like VN and PH, to provide them long-term debt to financing their capital, only if they stop invading China EEZ.

The BRICS Development Bank is ONLY meant for BRICS countries. Among its goals is to provide funding for infrastructure projects and create a "Contingent Reserve Arrangement" worth US$100 billion which will help member countries counteract future financial shocks.

Shanghai would be the ideal place to set it up.

 

[Pakistanisage]

Most logical Choice for Headquarters of BRICS....

 

[cirr]

Companies from Brazil and China expected to join forces for rail investment in Brazil

JULY 11TH, 2014

NEWS



The governments of Brazil and China next week are expected to sign a cooperation agreement for the rail sector to support companies from both countries to set up partnerships to bid for concession in Brazil, according to Brazilian financial newspaper Valor Económico.

The Brazilian newspaper added that the idea of the agreement is to allow Chinese companies, which have capital and technological knowledge of the sector, to partner Brazilian companies, which are used to working under concession systems.

The agreement is expected to be signed during a visit by China’s President Xi Jinping, to Brazil next week. He will visit Fortaleza on 15 and 16 July to take part in the meeting of the BRICS (Brazil, Russia, India, China and South Africa) group, after which he will meet with Brazil’s President Dilma Rousseff, in Brasilia.

The newspaper reported that China Railway Construction Corporation (CRCC) would seek out Brazilian partnerships to bid for the concession on the railways between Lucas do Rio Verde (Mato Grosso state) and Campinorte (Goiás state) and that China Railway Engineering Corporation (CREC) was interested in working on the project to build a railway line from Maranhão to Peru.

In all China has over 100,000 kilometres of railways, of which 11,000 kilometres operate with high-speed trains.

More than 100 Chinese businesspeople are due to travel with Xi Jinping to Brazil and consortiums are expected to be set up to bid in auctions for areas other than railways, such oil and power production. (macauhub/BR/CN)

Companies from Brazil and China expected to join forces for rail investment in Brazil | Macauhub English

 

[kaku1]

Among all the cities from BRICS, Shanghai makes the most sense.

What happen to Moscow or Rio or even Cape Town?

 

[UKBengali]

Here is our cheerleader comes.
By the way stop your govt from taking loansand aid from India ,stop your illegal lungi pole vaulters .Then continue cheeleading.
China agrees our potential .Then who are you to question us?

Indians cannot come up with any better slur than Cheerleader?

Only reason BD is taking loans is because India helped imposed a puppet-regime in BD. Not saying that BD people could not be doing more to get rid of puppets but India also has a fault in this.

BD economy is growing better than India. GDP growth has passed 6% again this year and hopefully with no more Rana Plaza type disasters and the difficulty of 2013 out of the way, 7%+ GDP growth can be achieved this year.

As another sign of BD's economic progress, BD is using it's own financial resources to construct the 2 billion dollar plus Padma bridge. This would have been unthinkable a decade ago.

I will always question a state that has millions of deaths due to starvation after nearly 7 decades of independence every year.

 

[SrNair]

Indians cannot come up with any better slur than Cheerleader?

Only reason BD is taking loans is because India helped imposed a puppet-regime in BD. Not saying that BD people could not be doing more to get rid of puppets but India also has a fault in this.

BD economy is growing better than India. GDP growth has passed 6% again this year and hopefully with no more Rana Plaza type disasters and the difficulty of 2013 out of the way, 7%+ GDP growth can be achieved this year.

As another sign of BD's economic progress, BD is using it's own financial resources to construct the 2 billion dollar plus Padma bridge. This would have been unthinkable a decade ago.

I will always question a state that has millions of deaths due to starvation after nearly 7 decades of independence every year.

Really .
Forget about India .Your BD growth is too much less than our states like Maharastra , Gujarat .You can compare your puny GDP with our states.Ghosh GDP of Maharashtra itself is too higher than BD.
Friend you are comparing your nation with a two plus trillion $ economy .
LoL.

 

[Raphael]

Great news. Hopefully what sets the BRICS bank apart from the World Bank and IMF is that it won't attach any political demands to loans. Global financial institutions should not be used to coerce weaker states and run roughshod over their sovereignty.

 

[UKBengali]

Really .
Forget about India .Your BD growth is too much less than our states like Maharastra , Gujarat .You can compare your puny GDP with our states.Ghosh GDP of Maharashtra itself is too higher than BD.
Friend you are comparing your nation with a two plus trillion $ economy .
LoL.

BD total GDP is in the range 170-180 billion dollars and Maharastra is similar.

Anyway, no point bringing regions into this as BD is a single state and India is a single state.

I suggest India makes sure every Indian gets fed properly before dreaming of becoming a lender to others.

 

[SrNair]

BD total GDP is in the range 170-180 billion dollars and Maharastra is similar.

Anyway, no point bringing regions into this as BD is a single state and India is a single state.

I suggest India makes sure every Indian gets fed properly before dreaming of becoming a lender to others.

In that sense each member of this nation have its own fair share of poverty.
In Brazil,China,SA,etc.
Thats also what I am talking about.BD is not a match for India as a single state.So you must compare nations of your own size.
According to the official data from SC around 3crore illegal immigrants are present in India for stoling our welfare programmes.First take all of them and then talk about
poverty.
We are dealing with 125 crore people .So you must convince your country men to not come to India.

China knows our influence and caliber .That is why they send their top minister in to India after the election for good relation.
They know that .So they dont need an advice from cheerleader from an insugnificant nation called BD.