Browsing: Russia

• Global economic growth will emanate from powerhouse BRICS economies over the next five years as per the IMF predictions.
• The ten BRICS nations comprise more than a quarter of the world economy and almost half the global population.
• China will contribute most significantly to global growth over the next half-decade, with its 22 per cent share outpacing all G7 countries combined.

The countries comprising BRICS— Brazil, Russia, India, China, and South Africa, with five new members—are an informal grouping of emerging economies hoping to increase their sway in the world order.

The BRICS group has become a major political force in the last two decades, building on its desire to counter Western influence in global institutions.

BRICS’ 2024 expansion has come with a range of geopolitical implications. It forms a rising economic and demographic heft: the ten BRICS nations comprise more than a quarter of the world economy and almost …

• Russian Investment Forum at AIM Congress 2024 highlighted Russia’s robust economic standing.
• Various Russian regions showcased unique investment opportunities, from the Far East’s oil and gas sector to Tatarstan’s diverse industries.
• Discussions also revolved around innovation and technology, with an emphasis on Abu Dhabi’s potential as a global technology hub.

Amidst the grandeur of the Abu Dhabi National Exhibition Centre (ADNEC), the Russian Investment Forum emerged as a unique centre of opportunities during the 2024 AIM Congress.

Under the International Partners’ Track, this forum brought together luminaries from Russia’s business landscape to showcase the nation’s unique investment propositions and affirm Abu Dhabi’s suitability as a global technology hub.

Spearheading the discussions was Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation. Katyrin painted a picture of Russia’s robust economic stature, ranking first in Europe and fifth globally in terms of GDP.

He cited Russia’s …

• In recent years, Moscow has focused on building new Russia-Africa ties.
• Russia is interested in searching for new economic markets and geopolitical influence in Africa.
• Russia’s trade with African economies stood at only $18 billion in 2022.

In recent years, Moscow has focused on building new Russia-Africa ties. Russia is invigorating alliances developed during the Cold War when the former Soviet Union supported socialist movements across Africa.

Following the Soviet Union’s collapse in 1991, Moscow largely withdrew from the continent. However, since at least 2007, Russia has refocused its involvement and influence in Africa.

Over the years, Russia has contracted with over 30 African countries to provide military equipment and armaments. Businesses, including state-backed commercial interests, have invested significantly in technology security sectors and industries that extract natural resources, including oil, gas, gold, and other minerals.

“Russia is clearly interested, in search of new economic markets and geopolitical influence in …

Russia’s invasion of Ukraine in February 2022 threw oil and gas markets into disarray. Consequently, the world experienced the first real global energy crisis during the uneven economic recovery from the COVID-19 epidemic. Russia’s inclusion in the OPEC+ group has hampered international attempts to manage the situation. This has made it harder to handle the significant inflationary effects of rising global fuel prices, particularly in developing nations.

Global fuel prices have risen exponentially in the last few months. The rise is hugely significant, as it has seriously aggravated the global cost-of-living crisis. African economies have particularly been on the receiving end. The continent has suffered from disrupted supply chains and a slowdown in the global economic outlook. Thus, rising energy costs complicate matters even further.…

For many Kenyans, life was unbearable during former President Uhuru Kenyatta’s reign. But just one year after President William Ruto came to power, life is getting more onerous. High taxation, the depreciation of the shilling against the dollar, and record-high fuel prices have highlighted the last few months. This has painted a grim picture of Kenya’s future and shattered citizens’ hopes for economic reinvigoration.
On September 14, 2023, the Energy and Petroleum Regulatory Authority (EPRA) announced record-high fuel prices for the September-October regulation cycle. A litre of super will now retail at Kes 211.64, diesel at Kes 200.90, and Kerosene at Kes 202.61. This represents an increase of Kes 16.96, 21.32, and 33.13, respectively, in the new prices announced last midnight.…

• Heads of State from China, Brazil, and India, except Russia will attend the 15th BRICS summit in Johannesburg South Africa, starting August 22.
• President Vladimir Putin will participate in the summit virtually but will be represented in Johannesburg by Foreign Minister Sergei Lavrov.
• The bloc is also expected to discuss how to boost local currency fundraising and lending within the New Development Bank.

The five nations, Brazil, Russia, India, China and South Africa (BRICS) are now a band of economies showcasing their ambition to maximize their emerging economies potential, across geopolitics axis. In one day time, heads of state from China, Brazil, and India, (except Russia) will attend the 15th BRICS summit in Johannesburg South Africa from August 22-24.

South African President Cyril Ramaphosa, Chinese President Xi Jinping, Brazil’s President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi are expected to discuss a number of items as …

• In an escalation of geopolitical tension, Russia has pulled a power move, ending the Black Sea Gran Initiative. To what extent does this decision threaten food security in Africa? 
• Collapse of the deal will drive inflationary pressure on grain prices, especially in countries heavily reliant on imports, experts warn.
• Currently, Africa is facing biting food shortage as inflation fueled by high food and fuel prices grips economies.

The Black Sea Grain Initiative, a deal that allowed the export of Ukrainian agricultural produce especially grains through the Black Sea, has collapsed following the withdrawal of Moscow from the agreement. For those unaware, the Black Sea Gran Initiative, was negotiated by Turkey and the United Nations in July 2022.

The deal, up to Monday July 24th, was allowing ships to carry fertilizer and agricultural products from three Ukrainian ports. It let ships to sail through strictly mapped routes, to avoid mines and …

• The second Russia-Africa Summit is underway in St Petersburg, Russia.
• The first Russia-Africa summit in 2019 culminated in the signing of 92 agreements, worth over $11 billion.
• Russia is looking to maintain major trade deals with Africa—a market of 1.3 billion people.

The second Russia-Africa Summit is currently underway in St Petersburg, Russia. This crucial summit taking place on 27th and 28th July has left tongues wagging in the West. The summit has the potential to either further isolate Russia globally or turn the tide and see Africa back Moscow.

How the summit plays out will have very significant outcomes in the determination of the ongoing geopolitical shifts.

$11Bn worth of deals in 2019 Russia-Africa summit

In 2019, Russia and a score of African leaders met for the first Russia-Africa Summit which culminated in the signing of 92 agreements, worth over $11 billion. This time around, with Africa facing a …