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BRICS Bank and Saudi Arabia Negotiating Partnership As Nations Explore Alternatives to US Dollar: Report

BRICS Bank and Saudi Arabia Negotiating Partnership As Nations Explore Alternatives to US Dollar: Report

Saudi Arabia is reportedly negotiating its entry into the BRICS’ New Development Bank (NDB), potentially making itself the ninth member of the organization. According to a report from The Financial Times, the Saudis, which have not made any official comments on the talks, are now in an active dialogue with the bank. The NDB was […]

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Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency

Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve CurrencyAccording to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries have to base their trade on the dollar?” Brazil’s President Wants to Reduce the […]

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