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Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade

[Oct 17 1:30 AM] Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands, discussions on alternative payment platforms are gaining momentum…

Putin: BRICS Nations Developing Own Payment and Settlement System

[Sep 27 2:30 AM] Russian President Vladimir Putin has revealed plans for an independent payment system in collaboration with BRICS nations to secure foreign trade transactions. This move reflects a strategic shift aimed at increasing Russia’s and…

BRICS to Discuss Alternative Payment Platforms at Upcoming Summit

[Sep 24 12:30 AM] Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on…

BRICS Beats Dollar Dependence: National Currency Settlements Exceed USD Payments

[Sep 22 8:30 PM] The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using the U.S. dollar can lead to expenses that…

BRICS Payment Platforms Gain Momentum as US Dollar Alternatives, Says Russian Official

[Sep 17 1:30 AM] BRICS’ new payment platforms, which offer alternatives to the U.S. dollar and euro, are attracting global attention, according to Russian Foreign Minister Sergey Lavrov. These systems enable countries to conduct economic activities without…

BRICS Gains Global Appeal as 34 Countries Show Interest, Putin Reveals

[Sep 13 3:30 AM] Russian President Vladimir Putin revealed that 34 countries have shown interest in joining BRICS activities, highlighting the global appeal of the group. He detailed Russia’s role in facilitating the integration of new members, sharing…

BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert

[Aug 14 5:30 AM] The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade using their national currencies like the Russian ruble…

US Senator Marco Rubio Warns BRICS Expansion Threatens Western Sanctions’ Effectiveness

[Jan 22 5:30 PM] Florida Senator Marco Rubio expressed his worries about the increasing influence of BRICS, the international group, in the world’s economic system. According to Rubio, if the group keeps expanding, it will be a valid alternative to the…

Egyptian Fintech Startup Zeal Secures $4 Million to Fund Expansion to New Markets

[Jan 18 4:30 AM] The Egyptian fintech startup has revealed that it recently raised $4 million in funding via a round led by venture capital firms Raed Ventures and Cur8 Capital. CEO said the firm’s capital raise is expected to help Zeal accelerate its journey…

Egypt Struggles With Skyrocketing Inflation and Depreciating Currency, While Bitcoin Nears Record High in the Country

[Jul 10, 2023 4:00 PM] According to the Egyptian Statistics Bureau, Egypt’s annual inflation rate hit 36.8% in June, a staggering 33.7% increase from May’s inflation rate, breaking records. Egypt, the world’s 14th most populous country, grapples with…

Egypt Applies for BRICS Membership, Seeks Trade in National Currencies

[Jun 15, 2023 9:30 PM] Egypt has filed an application to join the BRICS bloc, Russia’s ambassador to the Arab nation confirmed. The government in Cairo is interested in using alternative currencies in foreign trade, either national fiats or a new common currency, the…

India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar

[Apr 3, 2023 2:30 AM] The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this…

BRICS Emerges as the World’s Largest GDP Bloc, Propelled by China’s Rapid Expansion

[Mar 31, 2023 10:30 AM] BRICS, a set of countries grouped as an alternative to the G7, is now the world’s largest gross domestic product (GDP) bloc, taking purchasing power parity into account, according to reports from Acorn Macro Consulting. Powered By…

Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket

[Mar 19, 2023 11:30 AM] Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and…

Report: Egyptian Pound Reaches New Low Against US Dollar Despite Flexible Exchange Rate Regime

[Jan 16, 2023 12:30 AM] The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate…