brics Archives - Al Ansaar

BRICS vs. G7: The Battle for Economic Supremacy

20Oct

By Muhammad SalaahuddinNo Comments

Business

BRICS vs. G7: The Battle for Economic Supremacy

Summary:BRICS alliance surpasses G7 in terms of purchasing power parity (PPP) with 31.5% contribution to global GDP.BRICS aims to challenge G7 and the US dollar, convincing other developing countries to ditch the dollar for local currencies.The shift in global trade could tilt financial power to the East and potentially damage the US economy.BRICS Alliance Market ShareIn a remarkable turn of events, the BRICS alliance has emerged as a formidable force, overtaking the G7 countries in terms of purchasing power parity (PPP). According to data from the UK-based research firm, Acorn Macro Consulting, BRICS now contributes 31.5% to the global GDP, slightly ahead of the G7's 30.7%. This economic shift has significant implications for the balance of power on the global stage. ...

ANALYSIS: The Expanded BRICS Shaping a New World Energy Order

South Africa recently hosted the BRICS Summit, where six new nations joined the bloc. This expansion has significant implications for the global energy landscape and the fight against climate change. The BRICS+6, consisting of six of the world's top oil producers and four of the world's top natural gas producers, will play a crucial role in shaping a new world energy order.The BRICS+6: A Powerful Energy ConsortiumThe newly expanded BRICS group now includes three energy powerhouses – Saudi Arabia, the United Arab Emirates (UAE), and Iran. This addition strengthens the bloc's position as a major player in the global energy market. Not only do these countries dominate oil production, but they also account for a substantial portion of the world's natural gas reserves.Energy Ch...

As BRICS Summit Approaches New Opportunities for Business and Currency Arise

As the summit for BRICS approaches plans are being made as regards to preparing entrepreneurships by searching for what are the country’s best up-and-upcoming tech gurus (Professionals) to represent the country in the BRICS Future Skills Challenge.1 The future skills Olympics for this year will focus on solving problems the BRICS nations face around energy, water and health.2 BRICS being made up of Brazil, Russia, India, China and South Africa are seeking to rear new professionals in this skills challenge set for 12 to 15 September 2023 in Johannesburg.3 With hundreds of participants expected be involved, the BRICS Business Council aims to select 120 individuals from across the country, covering their travel expense.4 Joanne Brink, founder of TechWays and project manager at BRICS Future Sk...