Russia on Wednesday said its trade with China, India, Brazil, and South Africa jumped over 38% in the first three months of the year, despite the "politically motivated sanctions" from the West. What Happened: Addressing the virtual BRICS Business Forum, Russian President Vladimir Putin said the trade volume from the BRICS nations totaled $45 billion during the aforesaid period.
South Africa's equity market slumped and the rand strengthened somewhat on Wednesday after a bigger-than-expected inflation spike in May raised concerns the Reserve Bank may continue to tighten its policy. South Africa's headline consumer inflation, quickened to 6.5% year-on-year in May, the highest since January 2017, Statistics South Africa said.
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