EU ‘sucking gas away’ from poorer countries – analyst

The EU energy crisis is inevitably leading to energy poverty in developing countries, Bloomberg reported on Tuesday citing an energy analyst at Credit Suisse.

BRICS sign deal to create development bank (Dispute between India and China over the headquarters of the new bank settled)

Group of emerging powers set up $50bn development bank and $100bn contingency fund, seen as rival to World bank and IMF...

The BRICS group of emerging powers have launched a $50bn development bank to be based in the Chinese city of Shanghai, according to a joint declaration.

The bank will have an initial subscribed capital of $50bn followed by an authorised capital of $100bn, equally shared among the BRICS members - Brazil, Russia, China, India and South Africa.