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Boeing 737 Max jets in a deal valued at about $7.5 billion, a person familiar with the talks told Reuters on Sunday. Wording of the impending deal, which confirms a Reuters report from last week, comes as U.S. President Joe Biden visits Hanoi to boost ties with the former foe. Boeing and Vietnam Airlines did not immediately respond to requests for comment. The deal would be worth up to $7 billion at list prices, and usually companies that buy in bulk get discounts, but the person familiar with the talks did not comment on this. Boeing has a deal with Vietnam Airlines' rival VietJet for the sale of 200 of its 737 MAX planes. Vietnam was the world's fifth fastest-growing aviation market in 2022 when it lifted COVID-19 travel restrictions, according to the International Air Transport Association (IATA), which predicts the country will serve 150 million air transport passengers by 2035. Boeing 737 Max jets were grounded worldwide for months after two fatal crashes in Indonesia and Ethiopia in 2018 and 2019.

Jim O'Neill came up with the term ‘BRIC’ (Brazil, Russia, India and China) in 2001, little did he know that the acronym would become the groundwork for an ambitious alliance of the world’s highest-potential large economies. That potential is, in a way, now spreading, even as more nations dare to dream beyond the West’s hegemony. The BRICS bloc was born in 2009 as a response to the changing global economic landscape, aiming to promote cooperation on common challenges.

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.

BRICS intensified discussions on expansion and a common currency. Originally comprising Brazil, Russia, India, and China, BRICS was coined by Goldman Sachs in the 1990s to encourage investment in emerging economies. South Africa, the first non-original member, aptly led a summit centered on group expansion.BRICS expanded its wings: The BRICS meeting concluded, and the good news is that they are happy to shake hands with 6 more countries- Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates (UAE). Currently, the core BRICS countries control around 23% of global exports and 19% of global imports, and the new members would add 3.7% and 3.0% respectively, with Saudi Arabia being the biggest individual new member in terms of exports and the UAE the biggest new importer. What BRICS+ have now? This alliance includes six leading crude oil producers—Saudi Arabia, Russia, China, UAE, and Iran—yielding substantial energy and geopolitical influence. It unites three top African economies—Egypt, South Africa, and Ethiopia—and South America's key players, Brazil, and Argentina. Strikingly, this coalition bridges the divide between ideological rivals: Sunni-majority Saudi Arabia and Shia-majority Iran. With a diverse mix of economic, energy, and political dynamics, this alignment reflects a complex global landscape where nations with disparate interests find common ground, underscoring the intricate interconnectedness shaping today's international relations. Saudi Arabia, China, Russia, India, and other nations have rapidly bolstered trade and relations.

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.

Gokaldas Exports Ltd (GEL) on Tuesday jumped 20 per cent after the company said it has entered into an agreement through its wholly-owned subsidiaries to acquire Atraco Group for USD 55 million. The stock rallied 20 per cent to settle at Rs 736.30 — its 52-week high — on the BSE. On the NSE, it zoomed 20 per cent to end at its 52-week high of Rs 735.35 apiece. Headquartered in Dubai, apparel manufacturer Atraco operates with a network of four manufacturing units in Kenya and one in Ethiopia, GEL said in a statement. The equity value of the transaction is USD 55 million (around Rs 455 crore) and the same will be funded by a mix of debt and internal accruals, it said. The transaction will consist of the acquisition of shares and assets and will be subject to customary regulatory approvals.

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.

Gokaldas Exports share price were locked at 20% upper circuit at a 52-week high on Tuesday after the company announced the acquisition of Dubai-headquartered Atraco Group (Atraco). Gokaldas Exports shares jumped as much as 20.00% to a 52-week high of ₹736.30 per share on the BSE. Gokaldas Exports through its wholly owned subsidiaries has entered into an agreement to acquire Atraco Group (Atraco), a leading manufacturer of apparel with a strong market position across US and Europe.

Bloomberg News that the leaders “will launch a kind of manifesto calling attention to the need to improve labor relations," that would touch on work environments and pay. Scheduled for September 19, the meeting will follow the addresses of both presidents to the General Assembly.

BRICS countries, which was held in South Africa, received unprecedented international attention. Some commentators even invoked the Bandung conference of 1955, where leaders of India, China, Indonesia, Egypt and Yugoslavia launched the non-aligned movement (NAM). It seemed as though another generation of leaders, this time from Brazil, Russia, India, China and South Africa, were building an alternative to the US-dominated global order.

Egypt, Ethiopia and Sudan have resumed their years-long negotiations over the controversial dam Ethiopia is building on the Nile River’s main tributary

digital economy, trade and food security. UN secretary general Antonio Guterres, who was also present, said the UN, formed in 1945, must be reformed to reflect modern power realities. The big one was the expansion of Brics to include six new members, who will join the organization next year.

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.

Read more Jio Financial Services stock will now be removed from the all the S&P BSE indices, including Sensex, Sensex 50, BSE 100, BSE 500 among others, before opening of trading on September 1. Read more The Securities and Exchange Board of India (Sebi) on Friday informed the Supreme Court that it has concluded 22 out of 24 separate investigations into the Adani group, analysed data on nearly 350 million stock trades, and scrutinized dealings in seven Adani group firms involving tens of thousands of documents.

Pakistan has tried to downplay the snub from the BRICS, saying it has not yet made a formal request to join it after the bloc ignored Islamabad when it announced its major expansion in years. On August 24, The leaders of the BRICS nations decided to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates as the new members of the grouping, sealing a long-drawn process. Foreign Office spokesperson Mumtaz Zahra Baloch issued the details of her weekly briefing on Friday night, a day after the bloc of developing countries added new countries. «We will examine the latest developments and make a determination about our future engagement with BRICS,» Baloch said. To a query, if Pakistan was ignored by the bloc, she said Pakistan followed BRICS' developments in its latest summit in South Africa and also noted its openness to inclusive multilateralism. «Pakistan is an ardent supporter of multilateralism and as a member of several multilateral organisations it has always played an important role in global peace and development,» she said. The spokesperson termed Pakistan as an important developing country that has made «important contributions to promote peace, solidarity and cooperation among countries of the South». «We shall continue our efforts at the international fora for fostering the spirit of international cooperation and revitalisation of inclusive multilateralism,» she said. BRICS initially composed of Brazil, Russia, India, China and South Africa has undertaken major expansion taking its members to eleven, making it more representative of the Global South. Reportedly several countries are queuing up to join the group but Pakistan may face a challenge due to the presence of India which enjoys

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

By Carien du Plessis, Anait Miridzhanian and Bhargav Acharya

NEW DELHI : Leaders of Brics countries on Thursday invited six more nations to join them in the grouping’s first expansion since 2010. Iran, Saudi Arabia, Egypt, Argentina, Ethiopia and the United Arab Emirates will join existing members Brazil, Russia, India, China and South Africa, said South African President Cyril Ramaphosa at a briefing. The six countries are expected to become members starting 1 January.

BRICS group of countries, comprising Brazil, Russia, India, China and South Africa, has agreed to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE as new members. Concerns of BRICS gradually turning into an anti-West club have increased ever since Russia’s invasion of Ukraine and its “no-limits" partnership with China, which had been especially keen to expand membership. The group’s potential influence over global geopolitics has gone up.

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

Iran and Saudi Arabia are among six nations that have been invited to join the BRICS bloc of developing economies, along with the United Arab Emirates, Argentina, Egypt and Ethiopia