Negotiations to launch new BRICS bank hit snag: source

[World News]

By Alonso Soto FORTALEZA Brazil (Reuters) - On the eve of the signing of a deal to launch a joint development bank, the BRICS nations have still not agreed on where the lender will be headquartered, a senior official involved in the talks told Reuters late on Monday. The five nations are Brazil, China, India, Russia and South Africa. Negotiations have stalled for now on a dispute between China, India and South Africa over who will host the bank.

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