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New BRICS bank opens for business in China

The institution's management is "working on initiation of operations", Xinhua quoted bank president KV Kamath, as saying.


A NEW bank dedicated to the emerging BRICS countries opened for business in China's commercial hub of Shanghai on Tuesday, the official Xinhua news agency reported.

The so-called emerging BRICS countries are made up of Brazil, Russia, India, China and South Africa, and