Shanghai News

President Vladimir Putin (L), Prime Minister Narendra Modi (2L), President Dilma Rousseff, President Xi Jinping (2R), and President Jacob Zuma (R) pose at the 6th BRICS summit in Fortaleza, Brazil on July 15, 2014 (AFP Photo/Nelson Almeida)

BRICS New Development Bank (NDB) to be operational by end of 2015, says South Africa's Ministry of Finance

The emerging market BRICS nations will have their own development bank by the end of the year, South Africa said Friday.

Luanda, Angola’s capital city. Angola is rich in national resources, particularly oil and gas.

Angola's capital Luanda remains 'most expensive city' for expats in Mercer's 2015 Cost of Living ranking

The Angolan capital, Luanda, remains the world’s most expensive city for expatriates, according to an annual survey by consultancy Mercer.

The Mercedes Maybach is one of the auto brands popular amongst Nigeria's top one percent

In Lagos, Nigeria, the 1% takes stock

Guests sashayed through the tent doors into a scene of surreal opulence. At the far end of the tent, engulfed by servants, courtiers, national politicians and guards with wires in their ears, the celebrant perched beside his wife on a throne covered with white faux fur, his every move broadcast on flat-screens arrayed around the tent walls.

The leaders of the BRICS countries - Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, Brazilian President Dilma Rousseff, Chinese President Xi Jinping and South African President Jacob Zuma met in Fortaleza, Brazil on 15 July 2014

BRICS nations to create $100bn development bank

The leaders of the five BRICS countries have signed a deal to create a new $100bn (£58.3bn) development bank and emergency reserve fund.