Energy Markets
Stimulated by shared grievances, BRICS gathers speed
As U.S. election jitters hung over this week's conference of international financing chiefs in Washington, a smiling Vladimir Putin remained in the Russian city of Kazan welcoming leaders of nations which together comprise nearly half the world's population. The BRICS club of emerging economies might be a long method from equaling the International Monetary Fund (IMF) or challenging U.S. dollar supremacy. But the first top with its brand-new batch of members revealed clear signs of its growing weight. The final communique was long on words and short on information about developing new payment and trade mechanisms which could by-pass Western-dominated...