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    BRICS to create new development bank

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    euronews (in English)

    by euronews (in English)

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    The BRICS grouping of emerging powers has agreed on the creation of a development bank that will rival Western-backed institutions.

    The announcement came as the leaders of Brazil, Russia, India, China and South Africa gathered for a summit in Durban.

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    http://www.euronews.net/