The “BRICS” nations – Brazil, Russia, India, China, and South Africa – are seeking to expand their global influence (from Bloomberg on August 24)…

Major emerging market nations invited top oil exporter Saudi Arabia, Iran, Egypt, Argentina, Ethiopia and the United Arab Emirates to join their bloc in a push to expand its global influence. Leaders from Brazil, Russia, India, China and South Africa agreed to enlarge their BRICS group from Jan. 1 at a summit held in Johannesburg,