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GDP share of the six new members, being added to the five-member BRICS grouping of emerging economies from January, will be just 11 per cent, with Saudi Arabia's contribution the highest at 4 per cent, an analysis shows. The proposed addition of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to the five-member BRICS, or Brazil, Russia, India, China and South Africa, will also see the grouping's share in the global GDP rising to 30 per cent from 26 per cent now and that of the population to 46 per cent, according to an analysis by the SBI Research. The expansion decision, effective January 1, 2024, was announced at the recent BRICS summit held in Johannesburg. Currently China contributes 70 per cent of the BRICS' GDP, which will decline to 62 per cent, while India chips in with 13 per cent now that will inch down to 12 per cent.

David Jones chief executive Scott Fyfe says trading at the upmarket department store has remained in positive territory and shoppers are still investing in luxury brands, although sales in the past few months have slowed as pressures mount on household budgets.

BRICS grouping will see it controlling 46 per cent of the world's population and 30 per cent of its economic output, according to a research paper. At the latest BRICS summit in Johannesburg last week, the present members — Brazil, Russia, India, China and South Africa — decided to add Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates as new members of the grouping. The new members will become part of BRICS effective January 1, 2024. The acronym BRICS was originally coined in 2001 by Goldman Sachs economists led by Jim O'Neill.

BRICS countries to reach an understanding with China on the issue of cross-border terrorism, said the State Bank of India (SBI) in a new research report. The report stated that there is a need for India and China to increase cooperation on issues like river water (Brahmaputra) data sharing, entry of Indian pharmaceutical companies into China, etc.

Narendra Modi as reported by Russian news agency TASS. The call between the two top leaders were held after reports last week indicated that Russian President will not personally attend the G20 summit to be held in New Delhi in September and the Kremlin announced on Friday, saying he has a "busy schedule" and the main focus is still the "special military operation" in Ukraine. The G20 world leaders' summit is scheduled to be held in New Delhi on September 9 and 10.

the future of BRICS-Plus. The Johannesburg summit of BRICS leaders, which ended on 23 August 2023, agreed to induct six new members: the United Arab Emirates (UAE), Saudi Arabia, Argentina, Iran, Egypt and Ethiopia. Along with the existing five members—Brazil, Russia, India, China and South Africa—the expanded grouping of 11 members now presents an interesting alchemy of geo-political and geo-economic interests.

Narendra Modi on Saturday congratulated the ISRO team for the successful landing of Chandrayaan-3 on the moon. He arrived at the ISRO Telemetry Tracking & Command Network Mission Control Complex today morning.

Narendra Modi announced on 26 August at ISRO Telemetry Tracking & Command Network Mission Control Complex in Bengaluru. While addressing the team ISRO at ISRO Telemetry Tracking and Command Network (ISTRAC), he also announed the place where Chandrayaan-2 left its footprint on the Lunar surface in 2019.

India and China on Friday offered divergent views to characterise the conversation between Prime Minister Narendra Modi and President Xi Jinping in Johannesburg two days ago even as Beijing sought to downplay the eastern Ladakh border standoff saying the boundary question does not represent the «entirety» of the bilateral relations. In a readout on the conversation between the two leaders, the Chinese foreign ministry said President Xi Jinping conveyed to PM Modi that both sides should «bear in mind» the «overall interests» of the ties and «properly» handle the border issue. Hours after Beijing's statement on Modi-Xi conversation claimed it was held at the Indian side's request, Indian sources said there was a «pending request» from the Chinese side for a bilateral meeting, suggesting that New Delhi has not heeded to it. «The two leaders, however, had an informal conversation in the leaders' lounge during the BRICS summit,» one of the sources said. Modi and Xi held the conversation on Wednesday on the sidelines of the BRICS (Brazil, Russia, India, China, South Africa) summit in Johannesburg, amid continuing strain in bilateral ties in view of the lingering border standoff in eastern Ladakh. The conversation was not a structured bilateral meeting.

BRICS (Brazil, Russia, India, China, South Africa) summit in Johannesburg. The conversation was not a structured bilateral meeting and was an informal one.

Brics is set to add heft to the grouping of emerging economies as it announced on Thursday the inclusion of six new members, including India's key partners in the Gulf and North Africa, a development that Prime Minister Narendra Modi described as a message that «all global institutions need to transform considering the changing times». South Africa's President Cyril Ramaphosa made the announcement at a joint press conference of the leaders of the current members — Brazil, Russia, India, China and South Africa — on the concluding day of the 15th Brics summit in Johannesburg. «We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia and the United Arab Emirates to become full members of Brics from 1 January 2024,» said the joint declaration issued at the end of the 15th Brics summit. At the summit, the Brics leaders tasked their finance ministers and central bank governors, as appropriate, to consider the issue of local currencies, payment instruments and platforms, and report back to leaders by the next summit.Deep relations The group also decided to clear the path for further expansion. «We have also tasked our foreign ministers to further develop the Brics partner country model and a list of prospective partner countries and report by the next summit,» said the joint statement. Prime Minister Modi said at the joint press conference — in the presence of Ramaphosa, Chinese President Xi Jinping and Brazilian President Luiz Inacio Lula da Silva — that the decision to expand the grouping will strengthen the belief of many countries in a multipolar world. The PM said the inclusion of new members will

Narendra Modi and Chinese President Xi Jinping spoke on the sidelines of the Brics summit where they agreed on «expeditious disengagement and de-escalation along the Line of Actual Control in eastern Ladakh, Foreign Secretary Vinay Mohan Kwatra said on Thursday. »n his conversation with President Xi, the Prime Minister highlighted India's concerns over the unresolved issues along the Line of Actual Control (LAC) in the western sector of the India-China border areas. Prime Minister (Modi) had interactions with other Brics leaders (as well)," Kwatra said. Modi told Xi that «maintenance of peace, tranquility in border areas and respecting LAC» are essential for the normalisation of India-China ties, Kwatra said. «Modi and Xi agreed to direct relevant officials to intensify efforts at expeditious disengagement, de-escalation,» Kwatra informed. Modi and Xi were seen having brief chat at the Brics meet on Thursday morning ahead of the announcement for Brics expansion.

By Carien du Plessis, Anait Miridzhanian and Bhargav Acharya

Iran, Saudi Arabia, United Arab Emirates, Argentina, Egypt and Ethiopia have been invited to join BRICS economic bloc

Indian Space Research Organisation (ISRO) and share their joy on the stunning success of the Chandrayaan-3 lunar mission. The PM is in Johannesburg as part of the BRICS summit and will fly directly from there to Bengaluru en route to Delhi. He watched the spacecraft’s descent on screen from the South African city and made a statement soon after the mission’s success was announced. Modi personally called ISRO director S Somanath and conveyed his happiness to the team of scientists who diligently worked on the project after the previous mission failed four years ago. “The PM congratulated all of us and said that he would like to personally come down and congratulate each one of us,” Somanath said. The PM is expected to land at the HAL airport at 5.30 am and will spend two hours at the ISRO centre in Peenya from 8 am, sources said. The BJP has planned a rousing welcome to the PM at HAL and outside the ISRO facility.

Chandrayaan-3, near the south pole of the moon. The success of India’s third lunar mission makes it only the fourth country to achieve the milestone after the US, Russia and China. As lander Vikram, touched down at the proposed landing site 70 metres near the south pole at 6.04 pm, it marked the culmination of the work of decades by the Indian Space Research Organisation (ISRO), evoking awe and winning plaudits from an array of global and local admirers. “India is on the Moon,” said chairman S Somanath to the sound of resounding cheers that erupted at the Mission Operations Complex (MOX) at Isro’s Telemetry Tracking and Command Network (ISTRAC) in Bengaluru. Terming the moment as “unforgettable,” Prime Minister Narendra Modi, who viewed the landing live from Johannesburg, said, “When we see such a history being made before our eyes, life becomes blessed. Such historical events become the eternal consciousness of a nation’s life.” Noting that India will soon launch the Aditya L1 mission, the prime minister said, “Even the Sun is not far away.” Speaking to the reporters after the monumental achievement, the ISRO chief attributed the success of Chandrayaan-3 to project director P Veeramuthuvel and mission directors M Srikanth and Kalpana K, and M Sankaran, director of the UR Rao Satellite Centre in Bengaluru. As soon as the landing was confirmed, MOX erupted in cheers, handshakes, and smiles.

The leaders of Brazil, Russia, India, China and South Africa have held closed-door discussions on the possible expansion of their BRICS economic bloc

The bridge over the Kurung River connects Bairabi with Sairang and is roughly 21 km away from capital Aizawl. The Northeast Frontier Railway (NFR), which is implementing the 51.38 km railway project, has rushed medical and engineering teams to provide medical assistance and to help in the recovery process. NFR general manager (construction) Sunil Kumar Jha, along with senior officials, have rushed to Mizoram from the NFR headquarters in Maligaon (Guwahati). Prime Minister Narendra Modi, Union Home Minister Amit Shah, Railway Minister Ashwini Vaishnaw, chief ministers of the northeastern states and top leaders have expressed their anguish over the mishap. The PM, who is now in Johannesburg for the BRICS Summit, announced an ex-gratia of ₹2 lakh from the Prime Minister's National Relief Fund (PMNRF) to the next of kin of those deceased and ₹50,000 for those injured. The railway minister announced an ex-gratia compensation of ₹10 lakh to the kin of the deceased; ₹2 lakh for those who have been grievously injured and ₹50,000 for those with minor injuries. Mizoram Chief Minister Zoramthanga, posted on X: «Under construction railway overbridge at Sairang, near Aizawl collapsed today; at least 17 workers died: Rescue under progress.

Brics this week to air their grievances against Western powers, present themselves as defenders of developing economies and set out the case for an alternative international order. Russian President Vladimir Putin, addressing the South African summit by video, accused the West of provoking everything from the war in Ukraine and global inflation to hunger in the world’s most vulnerable countries by hampering Russian grain and fertilizer sales through sanctions.

BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations. Luiz Inacio Lula da Silva made the proposal at a BRICS summit in Johannesburg. Officials and economists have pointed out the difficulties involved in such a project, given the economic, political and geographic disparities between Brazil, Russia, India, China and South Africa.