Director-general Roberto Azevedo gestures as he is congratulated by delegates after the closing ceremony of the ninth World Trade Organisation (WTO) conference in Nusa Dua, on the Indonesian resort island of Bali. Photograph: Edgar Su /Reuters

The World Trade Organisation reached its first ever trade reform deal today to the roar of approval from nearly 160 ministers who had gathered on the (...)

Indian prime minister Manmohan Singh, Chinese president Xi Jinping, South African president Jacob Zuma, Brazilian president Dilma Rousseff and Russian president Vladimir Putin pose during the fifth Brics Summit in Durban. Photograph Rogan Ward/Reuters

China and Brazil have agreed to establish a currency swap line worth around $30 billion (€23.5bn) in their respective currencies, which they sa(...)