KSA could be BRICS’ development bank’s ninth member: Saudi Arabia is in talks to join the Shanghai-based New Development Bank, the Financial Times reports. If the kingdom joins the club, it would give the USD 100 bn bank another potential funding source and help cement growing ties between Saudi Arabia and China, the FT notes.

REMEMBER- Egypt became a member of the multilateral lender back in February. The bank was set up in 2014 by the BRICS — a group of high-profile emerging markets including Brazil, Russia, India, China and South Africa — to fund infrastructure projects in its member countries.

ALSO WORTH NOTING-

Canada + Saudi Arabia are friends again: Saudi Arabia and Canada have agreed to appoint new ambassadors, bringing to a close a dispute that has been ongoing between the countries for the past four years, reports Reuters. The move comes in the wake of discussions held last year between the leaders of the two countries, Canadian Prime Minister Justin Trudeau and Saudi Crown Prince Mohammed bin Salman.

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