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 agre
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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