Negotiations to launch new BRICS bank at impasse - sources | Reuters:
"Hours before launching a joint development bank to challenge Western dominance over global finances, the BRICS emerging market nations on Tuesday had still not agreed on where the new lender will be headquartered, senior officials involved in the talks told Reuters.
Leaders of the five BRICS countries were expected to sign off later Tuesday on plans to create the $100 billion bank and a reserves fund of the same size.
But the latest impasse reflects the difficulties that Brazil, Russia, India, China and South Africa face in working together to counter Western-run multilaterals that have shaped world finances since the end of World War Two."
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