brazil's president is set to meet xijinping in brazil's president is set to meet xi jinping in a brazil's president is set to meet xijinping in a bid to deepen economic commitments. plus, a conversation on debt restructuring in washington lacks the buy in from one of the well�*s largest creditors. hello and welcome to asia business report, i'm karishma vaswani. ourtop business report, i'm karishma vaswani. our top story few today, brazil's president is expected to meet the chinese president xijinping in expected to meet the chinese president xi jinping in the next two hours, president lula arrived in beijing late on

wednesday and attended the inauguration of a new bank in shanghai on the staples development bag has been set up by the brexit, brazil, russia, india, south africa, because, president lula said the new financial institution frees developing countries from established ones. our business reporter has more on the significance in the strip. the goal, in his own words, is to strengthen the relationship and at least when it comes to relationships ties are already significant. china is brazil's biggest export market, each year by intensive billions of dollars of natural resources and agricultural props including soybeans, iron ore, oil, and beef, while brazil, according to chinese state media is the biggest recipient of chinese investment in latin america. president lula da silva needs more of it if he is to boost brazil's stagnant economy. that's why the brazilian economy expects more than 20 bilateral agreements to be signed during his trip as

part of the deputised of already agreed to allow businesses to conduct bilateral trade in their own currencies instead of the us dollar. all the�*s visit ties neatly with china's agenda right now, tensions with the united states have been intensifying abating is looking to reduce its dependence on its largest trading partner. so our da silva reporting on a story for us. it is notjust brazil, china has been urging other countries to settle trades with the others, as if making inroads. in fabry the chinese yaun overtook the us dollar to become the most traded currency in russia. earlier spoke to natwest markets earlier and he told me that although yaun settlements are increasing in only incremental i think from a bilateral standpoint, certainly as was mentioned just now, pretty significant because of the importance that brazil, as an export market, china is for brazil, soybeans being one of

the major commodities being exported. the major commodities being exorted. , ., exported. putting this into the broader picture _ exported. putting this into the broader picture it _ exported. putting this into the broader picture it really - exported. putting this into the broader picture it really is - broader picture it really is more of an incremental development rather than a seachange when it comes to settlement in currencies other than the us dollar. i5 than the us dollar. is geopolitics driving this, like what we have seen with russia or is there a tactical financial aspect to all of this? i financial aspect to all of this? ~ , this? i think there definitely is a very strong _ this? i think there definitely is a very strong geopolitical| is a very strong geopolitical angle to this. so the events of last year, the russian invasion of ukraine, only served to sort of ukraine, only served to sort of highlight and accelerate this trend and it serves to highlight how it is possible for the global financial payment system from epayments architecture to fracture along these lines. for many, many years the majority of the world's trade, and it still is, was conducted in dollars. but now as we have been hearing incrementally that is being settled all china is preferring to happen settle in its own currency. it an incremental

change was that gap between what is being settled in us dollars and in the yaun, it is a huge gap, right, because this is happening also slowly. but which countries do you think might be more convinced to go beijing's route and follow the path of the yaun, if you will? just to put that into context, the yaun is currently only used for about 2% of global payments and about 3% of official foreign currency services, compared to the us dollar which is 85% of global payments and 6% of global reserves, which countries are more likely to follow that route, i think it is the ones that china is trying to really extend its hand in terms of economic diplomacy with, these countries that are typically, you know, the global south, the southern hemisphere, the less economically developed countries, and perhaps it is also the countries that are less willing to sort of or have a less ideological bent towards the us and see if this works

for us, for both of us, then that's something we will go along with. that's something we will go along with-— that's something we will go along with. that was galvan talkin: along with. that was galvan talking on — along with. that was galvan talking on a _ along with. that was galvan talking on a gradual - along with. that was galvan talking on a gradual rise - along with. that was galvan talking on a gradual rise in. talking on a gradual rise in country settling using the chinese yaun. while cheney looks to increase as user zurani well, it is a large bilateral benefit, as samira hussain reports, beijing has remained noncommittal during meetings of debt restructuring for poorer countries on the sidelines of the imf and world bank meetings. poorer countries currently hold billions of dollars in debt and 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 world's 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 that the discussions were really positive, but what were some of the positive language you hearing from china? china had all agreed _ you hearing from china? china had all agreed that _ you hearing from china? china had all agreed that it - you hearing from china? china had all agreed that it has - you hearing from china? china had all agreed that it has to i had all agreed that it has to be speedily dispensed with, thatis be speedily dispensed with, that is a great step forward, once you recognise that you have to do it in time and at the earliest it moves faster. so i expect there are solutions for many of these countries, a named to few, maybe there are a few others they didn't name, they will have the solutions done at the earliest. figs they will have the solutions done at the earliest. as the world's largest _ done at the earliest. as the world's largest holder - done at the earliest. as the world's largest holder of. done at the earliest. as the | world's largest holder of the debt, it is impossible to get any kind of restructuring without china's by an. and although the conversations are said to be moving in the right direction, without any commitments from china is really hard to see how this process even moves forward. samira hussain on the story for us. after hitting a speed bump

during covid, india's automakers seem to be driving in the fast lane. passenger vehicle sales grew 46 i7% in the most recent financial year, according to data for the society of indian automobile makers. 0ur india business correspond has more. there are a bunch of reasons for the solid performance of any automakers in the last financial year between april 2022 and march 2023, an easing of chip shot it has been one, along with that higher pent—up demand after two years of covid and solid buying ahead of the implementation of new fuel emission norms held sales momentum pickup. suvs were the preferred choice of all indian buyers, howeversales preferred choice of all indian buyers, however sales of small entry—level cars fell 57% as opposed to last year the mae sai and perhaps of an economic recovery, but those at the bottom of the pyramid was still holding off big purchases. 0verall, holding off big purchases. overall, 3.9 million passenger vehicles were sold last year

compared to just 3.1 million a year before and this was despite high inflation, rising borrowing costs, and carmakers hiking prizes. it is these very factors though that are likely to keep close in single digit this year according to analysts. a nalysts. sa n analysts. san francisco police have arrested a man wanted in connection with the murder last week of the tech onto another and cashed—up founder bob lee. he was stabbed to death in an early—morning attack on 4 april. the suspect was detained early on thursday. police say he knew mizzly and also works in the tech industry but gave no further details. pandora is one of the biggestjewellery brands in the world but it hasn't yet conquered the biggest market, china. the boss of the firm is hoping to change that with a relaunch.— that with a relaunch. pandora has been _ that with a relaunch. pandora has been present _ that with a relaunch. pandora has been present in - that with a relaunch. pandora has been present in the - that with a relaunch. pandora l has been present in the market since 2010, had a kind of rebirth in 2015 which didn't go down that well, so we have been kind of waiting to relaunch the brand and, of course, the last few years have been played by the restrictions around the

pandemic, so traffic into these doors has been very minimal. so we were kind of sitting a bit on the sidelines waiting for the market to normalise. the perspective on why we're this is, of course, that china is the largestjewellery market in the largestjewellery market in the world and we believe that pandora has a very good chance to play well in china.— to play well in china. outside of china, _ to play well in china. outside of china, how _ to play well in china. outside of china, how are _ to play well in china. outside of china, how are things - of china, how are things holding up? is the cost—of—living crisis eating into consumers' budgets? cost-of-living crisis eating into consumers' budgets? yes. we have had — into consumers' budgets? yes. we have had this _ into consumers' budgets? yes. we have had this macro - into consumers' budgets? yes. we have had this macro fear. into consumers' budgets? jazz we have had this macro fear in kind of touching consumer wallet for i think well over a year by now, with various different aspects of it. last yeari different aspects of it. last year i believe that our category fared relatively well. we grew our business by 7% in 2022 and so we kind of stood quite strong, the other aspect i think is important to remember in particular for the pandora case is 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. so actually so far we are quite pleased with what we are quite pleased with what we are seeing. i are quite pleased with what we are seeing-— are seeing. i know it is only aril, are seeing. i know it is only april. but — are seeing. i know it is only april, but i'm _ are seeing. i know it is only april, but i'm sure - are seeing. i know it is only april, but i'm sure you - are seeing. i know it is only april, but i'm sure you are| april, but i'm sure you are already thinking about christmas. how do you see this year being different?— year being different? well, i have been — year being different? well, i have been with _ year being different? well, i have been with pandora - year being different? well, i have been with pandora now year being different? well, i. have been with pandora now for four years, this will be my fifth christmas, each year has been a very different constructs with the pandemics and inflation and walls and what have you, so it's probably going to be different, just don't know what it is. we are getting ready with interesting innovation, with interesting retail experiences that we offer. that's the kind of controllable is that we have. so let's see what the macro brings. but we are ready for different scenarios, of course. the boss of pandora jewellery speaking to the abc's talking

business programme. more on that on the weekend. for now that's it from us at asia business report. thanks for watching. do stay with us on bbc news. ian ward has turned his bodenmann living room into a slot car race track. we bodenmann living room into a slot car race track.— slot car race track. i've got over 105 — slot car race track. i've got over 105 cars _ slot car race track. i've got over 105 cars now, - slot car race track. i've got over 105 cars now, 14 - slot car race track. i've got over 105 cars now, 14 box| slot car race track. i've got - over 105 cars now, 14 box sets up over 105 cars now, 14 box sets up stairs in my bedroom, and probably another 20 sets that are loose. it takes my mind off things, it's brilliant, i'd love it. things, it's brilliant, i'd love it— things, it's brilliant, i'd love it. , love it. he rediscovered his childhood _ love it. he rediscovered his childhood hobby _ love it. he rediscovered his childhood hobby a - love it. he rediscovered his childhood hobby a year - love it. he rediscovered his childhood hobby a year ago j love it. he rediscovered his - childhood hobby a year ago and says it's really helped with his autism and mental health. it gives me the opportunity to

be flexible, so if they don't like the track, if they get bored of it, i can takedown and put completely different tracker, and my brain, my autism except that, because it is something completely different.— is something completely different. ., .,~ different. he has also taken his truck — different. he has also taken his truck out _ different. he has also taken his truck out on _ different. he has also taken his truck out on the - different. he has also taken his truck out on the road, . his truck out on the road, hosting monthly meats in his local community centre. it’s hosting monthly meats in his local community centre. it's a ureat local community centre. it's a great grouo. _ local community centre. it's a great group, this _ local community centre. it's a great group, this is, - great group, this is, like—minded people, we like racing cars, it is a great sir hours on a sunday evening. mt; hours on a sunday evening. my first time down at the club tonight _ first time down at the club tonight. this is how big club start — tonight. this is how big club start. smallthings tonight. this is how big club start. small things like track on the — start. small things like track on the floor, built into a big club — on the floor, built into a big club and _ on the floor, built into a big club. and i wish him the best of luck — iam us i am us with the catch up. notable 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 is sports reporter sam harris. it why here is sports reporter sam harris. . , , harris. it happening untilthe 2025 2026 — harris. it happening untilthe 2025 2026 season. _ harris. it happening untilthe 2025 2026 season. it - harris. it happening untilthe 2025 2026 season. it comes| 2025 2026 season. it comes after the league spoke about reducing gambling activity because a new plans it wants to bring it around gambling laws. eight premier league clubs currently have gambling companies on the front of their shirt and they account for about £60 million worth of revenue every year. abs, about £60 million worth of revenue every year. a couple of other stories _ revenue every year. a couple of other stories now _ revenue every year. a couple of other stories now and _ revenue every year. a couple of other stories now and eight - other stories now and eight serving former metropolitan police officers have been found guilty of gross misconduct over messages in a whatsapp. they sent offensive messages between 2016 and 2018, some of which made one of caty price's disabled son harvey. and jamie oliver said he recorded his 0liver 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 use the same technique writing his new accessible children's book serving —— saying he wants to inspire kids but not by reading due to their learning disabilities. time to now leave you with ten seconds of seeing double. do you remember the cartoon character snoopy? well, we have found the real—life double. bailey the mini poodle looksjust double. bailey the mini poodle looks just like the iconic character, the exact same white and floppy black is. you're all caught up now, have a great night. —— ears.

hello there, coming up on this programme. manchesterfight programme. manchester fight back from 2—0 programme. manchesterfight back from 2—0 down to snatch a draw at the united europa league quarter—final first leg. djokovic dumped out of monte carlo after a controversial defeat to lorenzo midcity. and there is a rail brewing and boxing as nations breakaway in the amateur game when the loan new world governing body.