Egypt
Source: link.springer.com

Tourism has become the world's third-largest export industry after fuels and chemicals, and ahead of food and automotive products. From last few years, there has been a great surge in international tourism, culminates to 7% share of World's total exports in 2016. To this end, the study attempts to examine the relationship between inbound tourism, financial development and economic growth by using the panel data over the period 1995–2015 for five BRICS (Brazil, Russia, India, China and South Africa) countries. The results of panel ARDL cointegration test indicate that tourism, financial development and economic growth are cointegrated in the long run. Further, the Granger causality analysis demonstrates that the causality between inbound tourism and economic growth is bi-directional, thus validates the 'feedback-hypothesis' in BRICS countries. The study suggests that BRICS countries should promote favorable tourism policies to push up the economic growth and in turn economic growth will positively contribute to international tourism.

USA
Source: www.spglobal.com

Brazil has dropped a portion of its voting power in New Development Bank, the development institution established by the BRICS countries — which also include Russia, India, China and South Africa — after the Brazilian government failed to pay part of its capital contribution to the entity, Valor Econômico reported.

Brazil, which currently holds the chair of the China-based institution, was supposed to pay $292 million in capital to the bank but reportedly had not allotted any budget for it, according to the publication. The bank's partners each have a 20% share in its capital.

Following the payment delay, Brazil's share will be reduced by close to 3%, which can only be regained once the contribution is paid.

The delay will not impact financing for Brazil, according to Valor.

Sources told Valor that the Brazilian government said it will pay its contribution to the bank as soon as possible, but did not mention a specific date.

According to the publication, the New Development Bank has to report to credit rating agencies the delay in Brazil's capital contribution.

Malaysia
Source: www.tandfonline.com

This study examines how the relationship between oil and stock market return of BRICS behaves at different investment horizons. Using data ranging from 2006 to 2020, the wavelet and MGARCH-DCC found that the stock markets' return of Russia, Brazil, and South Africa are comparatively more correlated with oil price return across the investment horizons and more volatile particularly during the Covid-19 period. However, the stock markets' return of China and India is less correlated with oil price return and less volatile. It is also revealed that oil price return leads the BRICS' stock markets' return and both are positively correlated.