The Latest Breaking News from the New Development Bank

'Breakthrough', 'good move': Several foreign journalists covering BRICS Summit welcome New Delhi Declaration

Foreign journalists covering the BRICS Summit in Delhi welcomed the New Delhi Declaration. Some called the consensus document a breakthrough while others described it as a good move. The declaration addressed global governance and promoting peace through dialogue and diplomacy. It also highlighted practical cooperation and the role of the…

The Economic Times · Sep 13

BRICS Summit 2026: NDB crucial institution for promoting sustainable development, say bloc members

BRICS countries on Saturday backed the New Development Bank as a crucial institution for sustainable development, reducing inequality and strengthening resilience in emerging economies. The New Delhi Declaration urged the NDB to expand resource mobilisation, local-currency financing, innovation and infrastructure investment, while supporting wider membership and stronger governance.

The Economic Times · Sep 12

De-dollarisation: BRICS takes a measured route, focuses on payments and not on common currency

There is no mention of a common BRICS currency or a formal call for replacement of the US dollar. Instead, the document sticks to the more incremental, technocratic language the bloc has used since Rio and Kazan: interoperable payment systems, local-currency settlement, and voluntary cooperation among members who "respect national…

The Economic Times · Sep 12

India steering BRICS towards practical, decentralised agenda amid global disruptions: Expert

India leads BRICS toward a decentralized development agenda focusing on agriculture and startups. This approach aims to insulate Global South economies from international economic shocks. The grouping's growing appeal is evident through its recent expansion and numerous membership applications. BRICS has evolved into a significant intercontinental organization over two decades.…

The Economic Times · Sep 9

BRICS by BRICS: India's journey from seeking reforms to shaping global order

India's BRICS engagement has shifted from seeking a voice to offering indigenous solutions. The nation now actively shapes global order with scalable innovations and partnerships. Digital Public Infrastructure, like UPI, offers a blueprint for inclusive growth across emerging economies. BRICS facilitates exchange, allowing countries to adapt technology to their specific…

The Economic Times · Sep 9

China supports India in hosting BRICS Summit, highlighting importance of cooperation

China supports India in hosting the BRICS summit, according to Chinese Foreign Ministry spokesperson Mao Ning. While attendance details remain unannounced, the 18th summit in New Delhi will mark two decades of the bloc, focusing on trade, development, and Global South priorities.

The Economic Times · Sep 8

India set to host expanded BRICS summit as global trade, finance and governance take centre stage

India will host the 18th BRICS Leaders’ Summit in Delhi on September 12 and 13. Leaders will discuss trade, finance, technology, and energy security during the meeting. The summit marks BRICS' 20th anniversary and follows the bloc's significant expansion. India's chairship theme is "Building for Resilience, Innovation, Cooperation and Sustainability."…

The Economic Times · Sep 8

Iran to join BRICS development bank soon, central bank governor Abdolnaser Hemmati says

Iran plans to join the New Development Bank soon. This move comes as the nation faces international sanctions and seeks alternative financial channels. Iran joined BRICS in 2024 and desires shareholder status in the NDB. The bank was established by BRICS nations to finance development projects. BRICS members aim to…

The Economic Times · Aug 13

Iran to join BRICS bank soon as Trump claims US controls Tehran’s frozen assets

Iranian central bank governor Abdolnaser Hemmati said in a state media report on Wednesday that Iran will soon join the New Development Bank, the multilateral lender established by the BRICS group of nations. This comes ahead of a BRICS finance meeting scheduled to be held in India.

The Times of India · Aug 12

Iran-US war latest: Tehran rejects Trump’s claim of ‘total control’ over Hormuz as traffic nears 3-month low

Donald Trump argued the Iranian navy has been destroyed and they cannot enforce the closure of the strait

The Independent UK · Aug 12