brazil's president is set to meet xu xing ping to deepen economic relations analysis on the ties between latin america and asia economies was a plus a conversation a debt restructuring and one of the worlds largest creditors. hello and welcome to asia business report, i am and welcome to asia business report, iam karishma and welcome to asia business report, i am karishma vaswani. our top story president lula of brazil is expected to meet with the chinese president in the next few hours. president lula arrived in beijing late in beijing and attended in

inauguration of a new bank on shanghai. the new development bank has been set up by the brix group, that's brazil, russia india and china and south africa and president lula said the new financial institution frees developing countries from established ones our business reporter has more on the significance of this trip. on the significance of this tri -. , ., ., , trip. the goal in his own words is to strengthen _ trip. the goal in his own words is to strengthen the _ is to strengthen the relationship. and at least when it comes to business ties our already pretty significant. china is brazil's biggest export market, each year buying tens of thousands of billions of dollars of natural resources and agricultural products, including soybeans, iron ore, oil and be for that while brazil according to chinese state media is the biggest recipient in latin america. president lula da silva needs more of it if these two bruised brazil's stagnant economy. that's why the brazilian government expects more than 20 bilateral to be signed during his trip as part of their deeper ties they've already

agreed to allow businesses to conduct bilateral trade in their own currencies instead of their own currencies instead of the us dollar. lula says it ties deeply with touches right now. tensions have been intensified in beijing is looking to reduce its dependence on its largest trading partner. it’s dependence on its largest trading partner.— dependence on its largest trading partner. it's not 'ust brazil, china i trading partner. it's not 'ust brazil, china hasi trading partner. it's not 'ust brazil, china has been h trading partner. it's notjustl brazil, china has been urging other countries to settle trades with the chinese yuan. it seems to be making inroads, effective february it overtook the us dollar to become the most traded currency in russia. earlier i spoke with natwest markets and he told me although segments are increasing it's still incremental. i segments are increasing it's still incremental.— segments are increasing it's still incremental. i think from a bilateral— still incremental. i think from a bilateral standpoint - still incremental. i think from a bilateral standpoint as - still incremental. i think from a bilateral standpoint as wasl a bilateral standpoint as was mentioned just now pretty significant because of the importance that brazil is an export market, china is for brazil like soybeans, one of the major commodities being exported. the broader picture, it really is a bit more of an

incremental development rather than a sea change when it comes to settlement in currencies other than the us dollar. i5 other than the us dollar. is geopolitics driving this, like what we see with russia or is there a practical financial aspect to all of this? i think there definitely _ aspect to all of this? i think there definitely is _ aspect to all of this? i think there definitely is a - aspect to all of this? i think there definitely is a very - there definitely is a very strong geopolitical angle to this without the events of last year, the russian invasion of ukraine only serve to highlight and accelerate this trend. it shows how possible it is for the global financial payment system, the payment architecture to fracture along these lines without for many years the majority of the world trade, and it still is was conducted in dollars with up but now as we been hearing incrementally that's starting to settle or at least china would prefer to have it settled in its own currency. it's a very subtle change. from a corporate _ very subtle change. from a corporate perspective - very subtle change. from a corporate perspective right| corporate perspective right now, is it a good thing to diversify your options rather

than having all your eggs in the us dollar basket? doesn't make sense to say, ok, i'll settled himself in us dollars, some stock in others, is that something companies consider? i think so. from a company perspective, like a personal perspective, like a personal perspective are you willing to pay some something in us dollars was that it does bring its own cost you have to think of different exchange rate risks for that what type of market fluctuations there are, what time of political considerations or is it possible to exchange this amount of currency at this given time? historically speaking, there are reasons the us dollar has benefited or been a choice for so many market participants is because there are no such constraints for them and typically most a risk free type currency. where in other countries and cities whether it is yen or euros there are other considerations to take into place. our markets open, can you trade out, are

the risk that the currency? short—term considerations that may very well settle themselves out in the end. it signs that corporate institutional individuals may be because of it. , ., ., it. the first of a full meeting ofthe it. the first of a full meeting of the global _ it. the first of a full meeting of the global sovereign - it. the first of a full meeting of the global sovereign debt| of the global sovereign debt roundtable met on the sidelines of the imf and world bank meetings in washington, dc. those conversations on debt restructuring were positive according to india's finance minister. although participants agreed that debt restructuring for poor countries need to be accelerated, 100 remains noncommittal.— accelerated, 100 remains noncommittal. , noncommittal. poorer countries currently hold _ noncommittal. poorer countries currently hold billions _ noncommittal. poorer countries currently hold billions of- currently hold billions of dollars in debt. there is a push to allow those countries to restructure some of that by perhaps using lower interest rates to refinance those loans or even changing the timetable to pay those back. although the

conversations between creditors, debtors and financial institutions have all been positive, china the worlds largest holder of bilateral debt has been reluctant to make any kind of commitments. so i asked the g20 leaders, what is it that china has actually said. you said the discussions were really positive for that what was some of the positive language you are hearing from china? . . . language you are hearing from china? . ., ., ., china? china had all agreed that it has _ china? china had all agreed that it has to _ china? china had all agreed that it has to be _ china? china had all agreed that it has to be speedily i that it has to be speedily dispensed with. that is a great step— dispensed with. that is a great step forward for that once you recognise _ step forward for that once you recognise that you have to do it in time _ recognise that you have to do it in time and at the earliest, it in time and at the earliest, it moves_ it in time and at the earliest, it moves faster. i expect the solution _ it moves faster. i expect the solution for many of these countries, i named a few others i countries, i named a few others i didn't— countries, i named a few others i didn't name for that we will have — i didn't name for that we will have the _ i didn't name for that we will have the resolution. as i didn't name for that we will have the resolution.- have the resolution. as the worlds largest _ have the resolution. as the worlds largest holder- have the resolution. as the worlds largest holder of. have the resolution. as the l worlds largest holder of that debt it is impossible to get any kind of restructuring

without china's buy—in. although the conversations are said to be moving in the right direction, without any commitments from china it's really hard to see how this process even moves forward. i want to take you to india because after hitting a speed bump during covid eden deas auto—makers seem to be driving in the fast lane for the passenger sales grew 26.7% in the fiscal year 2022 to 2023, that's according to data from the society for indian automobile manufacturers with of our india correspondent has more. ., ., of our india correspondent has more. . ., , . ., more. there are a bunch of reason for _ more. there are a bunch of reason for solid _ more. there are a bunch of. reason for solid performance more. there are a bunch of- reason for solid performance of indian auto—makers in the last financial year between april 2020 and march 2023. along with that high pent—up demand after two years of covid and solid buying ahead of the implementation of new fuel emission norms help sales momentum pick—up. suvs were the preferred choice, however sales

of small entry—level cars fell 57% as opposed to last year. and some of an uneconomic recovery but those at the bottom of the period were still holding off big purchases. 0verall holding off big purchases. overall 3.9 million passenger vehicles were sold last year compared to just to .1 vehicles were sold last year compared tojust to .1 million per year before. this was despite high inflation, rising borrowing costs and car—makers hiking prices. it is these very factors that are likely to keep close in single digit this year according to analysts. pandora is one of the _ according to analysts. pandora is one of the biggest _ according to analysts. pandora is one of the biggest jewellery| is one of the biggestjewellery brands in the world but it hasn't yet conquered the biggest market, china. the boss of the company is hoping to change that with a relaunch. pandora has been presently in the market since 2010. had a kind of rebirth which are to go down that well. we've been kind of waiting to relaunch the brand. of course the last few years have been plagued by the

restrictions surrounding the pandemic. so traffic into the stores have been very minimal. we've been seeing a bit on the sidelines waiting for the market to normalise. the perspective on why we are doing this is of course that china is the largestjewellery market in the largestjewellery market in the world for the we believe that pandora has a very good chance to play while in china. 0utside chance to play while in china. outside of chance to play while in china. 0utside ofjetta how are things holding up? figs outside of jetta how are things holding up?— holding up? as a cost crisis easin: holding up? as a cost crisis easing into _ holding up? as a cost crisis easing into consumer - holding up? as a cost crisis - easing into consumer budgets? yes. we've had this macro fear and touch in consumer wallet for well over a year now with various different aspects of it. last year i believe that our category feared fairly well, we grow our business by 7% and 22. we kind of stood quite strong. the other aspect i think is important to remember in particular for the pandora cases a lot of our

products are bought to be used as gifts to celebrate birthdays and other things. so that puts and other things. so that puts a level of resilience into the business. actually, so far we are quite pleased with what we are quite pleased with what we are seeing. i know it's only april but i'm sure you are thinking about christmas. hagar thinking about christmas. how do ou thinking about christmas. how do you see _ thinking about christmas. how do you see this _ thinking about christmas. how do you see this year— thinking about christmas. fin? do you see this year being different? i've been with pandora now for four years. this will be my fifth christmas. each year has been a very different construct with the pandemic and inflation and the pandemic and inflation and the wars and what have you. so it's probably going to be different, ijust don't know what it is. we are getting ready with interesting innovation, interesting retail experiences that we offer. that's the kind of controllable levels that we have. so let's see what the macro brings but we are ready for different scenarios, of course.- we are ready for different scenarios, of course. the boss of pandora _ scenarios, of course. the boss of pandora jewellery _ scenarios, of course. the boss| of pandora jewellery speaking.

that is it from us on asia business report. thank you for watching. please stay with bbc news. birkenhead park has always been at the heart of the community. from royal visits to rugby games. and today it's in the running to be a unesco world heritage site. birkenhead park was the world's first publicly funded park. it opened its gates in 1847, and since then has become the blueprint for green spaces around the world, most famously for new york's central park. and today, this green space welcomes around 2 million visitors every year. we do get visitors coming from all over the world we want people to come in on the cruise ships, come to the park and see what we've got here, because i know central park's

probably ten times bigger than this. but we're special. we are a little oasis. we used to come here we were young. now are not quite as young. we got the kids, the grandkids. they're all here now and we love it. - other sites shortlisted for the honour include york city centre and a collection of iron age settlements in shetland. there are 33 unesco sites in the uk, and birkenhead park is hoping tojoin them on the prestigious list, which recognises cultural, historical or scientific significance. hey, i'm kash with the catch up tonight. football says no to gambling. jamie oliver discusses dyslexia and cartoons come to life. premier league football shirts are going to look a bit different in future.

clubs have agreed to stop showing the betting companies that sponsor them on the front. to tell us why, here's sports reporter sam harris. this won't be happening until the end of the 20, 25, 26 season. and it comes after the league spoke with the government about reducing gambling advertising because of new plans it wants to bring in around gambling laws. eight premier league clubs currently have gambling companies on the front of their shirts and they account for about £60 million worth of revenue every year. a couple other stories now. and eight serving and former metropolitan police officers have been found guilty of gross misconduct over offensive messages shared in a whatsapp group. the officers were found to have sent offensive messages between 2016 and 2018, some of which made fun of katie price's disabled son, harvey. and jamie oliver

said he recorded his first books on a dictaphone instead of writing them down because of his struggles with adhd and dyslexia. the celebrity chef used the same technique in his new accessible children's book, saying he wants to inspire kids put off by reading due to their learning difficulties. time to now leave you with 10 seconds of seeing double. do you remember the cartoon character snoopy? well, we have found the real life taboo bailey, the ministry producer who looks just like the iconic character, the exact same way face and floppy black ears. you're all caught up now. have a great night.

hello, i'm tulsen tollett, from the bbc sport centre. coming up on this programme... sevilla strike late in manchester as they fight back from 2—0 down to snatch a draw at united in the europa league quarter final first leg. djokovic dumped out of monte carlo after a controversial defeat to lorenzo musetti. and there's a row brewing in boxing — as nations break away in the amateur game forming their own, new, world governing body. hello and welcome to the programme where we start with a cracking match

at old trafford as the europa league quarter finals got underway.