Greece is open to the possibility of becoming a member of the BRICS group of developing nations as part of the BRICS New Development Bank (NDB), Sputnik quoted Greek Deputy Defense Minister Kostas Isychos as saying. Russia invited Greece in May to become an NDB member. “Greece has also been invited to become a BRICS member within the Development Bank of the BRICS. We are still open to that,” said Isychos, the co-chair of the Russian-Greek Intergovernmental Committee. Discussions on Greece’s membership in the bank may take place at the July 9-10 BRICS summit in Ufa, Russia.
The situation in Greece has limited influence on financial markets in Russia, RIA Novosti quoted Deputy Finance Minister Maksim Oreshkin as saying on Tuesday. Commodity markets and volatility on world markets will have certain impact of limited character, he said.
Schlumberger and Eurasia Drilling expect the Russian Federal Antimonopoly Service to confirm the merger and postponed the deal date to September 30, TASS reported. “The parties have agreed to postpone the pause on concluding the merger from June 30 to September 30, 2015,” Eurasia Drilling said Tuesday. US-based Schlumberger, the world’s largest oil services company, said in January it was acquiring Eurasia Drilling, an oilfield services company, despite anti-Russia sanctions and falling oil prices.
The gas price discount for Ukraine is in accordance with contract terms, TASS quoted Gazprom’s CEO Aleksey Miller as saying on Monday. He made the statement during a meeting with Russia’s Prime Minister Dmitry Medvedev and Energy Minister Aleksandr Novak. “The discount is provided in strict accordance with the contract of 2009,” he said, adding that the gas price for Ukraine in Q3 will be $247.18 per 1,000 cubic meters. Ukraine’s Naftogaz had asked Gazprom for a discount after the current one expires in Q2, RIA Novosti reported.
The Indonesian government is determined to invest more than $672 million into the Asian Infrastructure Investment Bank, which is now under formation, according to a statement from the country’s finance ministry. It emphasizes that Indonesia will be the eighth biggest investor in the AIIB. An agreement on Indonesia joining the AIIB will be signed during the visit of the country’s prime minister, Bambang P.S. Brodjonegoro, to China that starts on June 29.
South Africa’s parliament on Friday ratified an international agreement on establishing the BRICS New Development Bank, Bloomberg reported. The MPs also ratified an agreement on creating a Pool of Conditional Currency Reserves. BRICS comprises Brazil, Russia, India, China and South Africa.
In a bid to stimulate lending, the People’s Bank of China has reduced the reserve requirement ratio for banks by 50 basis points, which offer credit to farms and small enterprises. The expected move follows a cut for all commercial banks by 100 basis points in April and a 50-basis-point cut in February. The new requirement comes into play on Sunday.