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| Brazilian president at the BRICS summit on March 27, 2013 |
" While Europe remains in turmoil some of the world's emerging economies are pushing for a larger role in managing global debt.
At
their fifth annual summit, held in Durban, South Africa, the leaders of
Brazil, Russia, India, China and South Africa, known collectively as
the BRICS nations, have agreed to set up a $50 billion development bank.It will be the first institution established by the informal grouping, and is a direct snub to the World Bank.
The leaders began holding forums at the start of the global financial crisis in an effort to set an economic path that was not dominated by the West.
Emerging economies plan World Bank rival
International affairs analyst Brooks Spector says it's not likely to be an easy task.
"It is not just the devil was in the detail, the actual working of it is
in the detail, and for that they haven't really got clarity yet on what
it'll be," Mr Spector said."
" Together, the BRICS economies account for 25 per cent of global
output and 40 per cent of the world's population, and their leaders are
not shy about talking up their contribution to the global economy.
Brazilian president Dilma Rousseff told the summit that last year, BRICS countries received $263 billion in investment flows, the equivalent of 20 per cent of worldwide foreign direct investment.
Russian president Vladimir Putin insists the countries should carry more influence.
"Our countries have 40 per cent of the planet's population," Mr Putin said.
"BRICS nations have large natural resources, have a well-prepared industrial basis and well-trained staff."
While most of the rest of the world's economy has been in a long-term slump, it has been left to the BRICS economies to drive growth, but they believe they have not received enough respect and influence in existing forums.
The director of the Institute of Global Finance at the University of New South Wales, Fariborz Moshirian, says nations such as China believe a BRICS development bank will help them target key nations with which they have direct bilateral relationships.
"We know that for instance China has got great interests in Africa," Dr Moshirian said.
"They have been very active in tapping into mining resources, in turning African communities into more cohesive economies where they could basically buy and sell from China and to China." "
The washing of feet on the Thursday before Easter is a Christian tradition commemorating Christ's Last Supper.
It is part of a papal calendar of events running up to Easter, the most important festival in the calendar of the Catholic Church.
On Easter Sunday morning, the new Pope will deliver his first "Urbi et Orbi" message to the city of Rome and to the world."
" Two people have been killed as a wall collapsed on Swanston Street in the Melbourne suburb of Carlton.
One man and one woman are dead, while another woman has been rushed to hospital in a critical condition.
Police say all three were pedestrians.
A large number of passers-by rushed to clear debris from the scene between Queensberry and Victoria streets."
Two dead after Melbourne wall collapse
I'm not a psychic, but this looks like BIG trouble to me.
" The mayor of Rio de Janeiro has said the stadium due to host the
athletics events at the 2016 Olympics will not be demolished, despite
structural problems that have led to its closure."
Brazilian president Dilma Rousseff told the summit that last year, BRICS countries received $263 billion in investment flows, the equivalent of 20 per cent of worldwide foreign direct investment.
Russian president Vladimir Putin insists the countries should carry more influence.
"Our countries have 40 per cent of the planet's population," Mr Putin said.
"BRICS nations have large natural resources, have a well-prepared industrial basis and well-trained staff."
While most of the rest of the world's economy has been in a long-term slump, it has been left to the BRICS economies to drive growth, but they believe they have not received enough respect and influence in existing forums.
The director of the Institute of Global Finance at the University of New South Wales, Fariborz Moshirian, says nations such as China believe a BRICS development bank will help them target key nations with which they have direct bilateral relationships.
"We know that for instance China has got great interests in Africa," Dr Moshirian said.
"They have been very active in tapping into mining resources, in turning African communities into more cohesive economies where they could basically buy and sell from China and to China." "
" Pope Francis will wash the feet of prisoners in a youth detention centre near Rome on Maundy Thursday.
Thousands of pilgrims and tourists are arriving in Rome to attend ceremonies during the holy week ahead of Easter.The washing of feet on the Thursday before Easter is a Christian tradition commemorating Christ's Last Supper.
It is part of a papal calendar of events running up to Easter, the most important festival in the calendar of the Catholic Church.
On Easter Sunday morning, the new Pope will deliver his first "Urbi et Orbi" message to the city of Rome and to the world."
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| Brick (BRICS?) wall collapses killing pedestrians in Melbourne |
One man and one woman are dead, while another woman has been rushed to hospital in a critical condition.
Police say all three were pedestrians.
A large number of passers-by rushed to clear debris from the scene between Queensberry and Victoria streets."
Two dead after Melbourne wall collapse
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| Big trouble? |
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Cyprus worries rattleglobal share markets |
UPDATE: 1st April (and not a joke BTW).
Tragic story indeed.
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| Bridget and Alexander Jones |
Eighteen-year-old Bridget Jones died in hospital yesterday from head injuries she suffered when a brick wall crushed her and her brother Alexander on Swanston Street on Thursday.
Alexander died at the scene, along with a 30-year-old woman from Mount Waverley.
The 19-year-old, also known as 'Zander', was trying to shelter his sister from the collapse."
Memorial to be held for wall collapse victims
Lots of stuff there: the Rio stadium concerns; BRICS from those developing countries. New powers are being built and established - so BRICS sounds appropriate. The world is changing.
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