Russia proposed the creation of a BRICS grain exchange, which could later be expanded to trade other major commodities, President Vladimir Putin said in opening remarks to a summit of leaders of the BRICS countries on Wednesday.
"BRICS countries are among the world's largest producers of grains, legumes, and oilseeds. In this regard, we proposed opening a BRICS grain exchange," Putin told the leaders.
He added that the exchange "will contribute to the formation of fair and predictable price indicators for products and raw materials, considering its special role in ensuring food security".
"The implementation of this initiative will help protect national markets from negative external interference, speculation, and attempts to create an artificial food shortage," Putin said.
A separate platform could be set up to trade precious metals and diamonds, Putin said.
In his speech, Putin also referred to the creation of a BRICS investment platform, which will facilitate mutual investment between BRICS countries and could also be used for investment in other countries in the Global South.
The UAE, represented by the Ministry of Health and Prevention (MoHAP), took part in the G20 Health Ministers Meeting and G20 Joint Finance and Health Ministers meeting hosted by Brazil from October 29-31.
In line with directives from His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, to strengthen Dubai’s position as a global hub for media innovation, the Dubai Media Council met with TikTok to explore new partnership opportunities focused on media advancement and knowledge exchange.
The UAE Ministry of Human Resources and Emiratisation (MoHRE) has called on private sector companies with 20 to 49 employees to expedite the hiring of at least one Emirati by the end of 2024.
The UAE's economic growth is projected to lead the GCC in 2025, primarily driven by the non-oil sector, according to the Director of the Middle East and Central Asia Department at the IMF, Dr. Jihad Azour.