BRICS Business

People wearing breathing masks are seen on a pedestrian bridge in downtown Beijing, capital of China, Feb. 22, 2014 [Xinhua]
Sales of Chinese cars increased 11.6 per cent year on year, the China Association of Automobile Manufacturers (CAAM) said Friday.
CAAM says the two-digit jump happened because of reduces sales between 2016 and 2017 when the government introduced new policie and sales tax mechanisms.
But the Chinese car manufacturing industry is now focused on new energy vehicles (NEVs) as a part to reduce the impact on the environment.

New Coal Terminal Beira will have 20 million tons per year capacity
The biggest unions of South African coal producers include Anglo American Plc and Glencore Plc [Xinhua]India’s Essar Group, which operates Indian ports handling 82 million tons per annum (mtpa) with expansion to 110 mtpa in the near future, will be investing $440 million in creating a New Coal Terminal at Beira Mozambique, Captain Tej Nargundkar, the CEO of Mozambique, Essar Ports Limited, told the IHS South African Coal Export Conference in Cape Town South Africa.

Counter-sanctions imposed on food imports and an unprecedented raft of subsidies have made many areas of farming more profitable in Russia [Xinhua]
Consumer demand has driven economic growth in Russia, the Central Bank said on Friday, adding that GDP growth in the first six months should reach between 1.0 and 1.5 per cent.
This is slightly lower than an earlier forecast.
It also cited “further recovery of production activity” and near-record low inflationary expectations.

Temer is trying to push a package of spending cuts through parliament and other measures to lift Brazil out of its worst recession in decades [Xinhua]
Despite ongoing political turbulence following a slew of corruption charges aimed at sitting and previous leaders and lawmakers, Brazil’s economy appears to have bandaged itself and started to grow again.

Increase is despite y/y decline in the final two months of 2017
The record bulk exports confirm that the South African economy has exited recession, analysts say [Xinhua]South African bulk export volumes rose by 4.9 per cent in 2017 to a new record of 171.3 million tons (Mt) after falling by 2.8 per cent in 2016 to 163.3 Mt, data from the Transnet National Ports Authority (TNPA) showed.
The record bulk exports confirm that the South African economy has exited recession and is on its way to surprising most economists with its renewed vigour.

Production of new energy vehicles – some for public transportation – is skyrocketing as China pushes ahead with green technologies [Xinhua]
China’s automotive industry has released data which shows that national sales of new energy cars – hybrid energy, battery and electri-operated vehicles – has increased by nearly six per cent in 2017.
In 2017, nearly 800,000 such “green” vehicles were sold on the Chinese market.

French President Emmanuel Macron, left, is trying to position France as a major trading partner from Europe for China [PPIO]
With the UK less likely to back out from Brexit, France has decided to cement its trade ties with China.
French President Emmanuel Macron took a heavyweight team of business leaders and trade experts on his three-day trip to Beijing Monday.
Macron has been looking to sign billions of dollars in trade links with China, thereby making France one of the biggest trading partners in Europe.

The RMB is the currency of choice for the BRICS New Development Bank. It is the fifth most used currency in the world [Xinhua]
The People’s Bank of China on Friday said that it encouraged cross-border and overseas use of the renminbi (RMB) currency to settle accounts and boost investment.
It acknowledged that Chinese banks have been looking to trade in offshore RMB and that there was a growing need for foreign-funded companies in China to be able to transfer investment revenue overseas.

Industrial profit growth may have fallen but the PMI has gained ground indicating the economy has not run out of steam [Xinhua]
Data from China’s National Bureau of Statistics (NBS) appear to show that industrial growth may have slowed in 2017.
During the period January to October growth in profits from major industrial companies slowed to 21.9 per cent.
During the same period in 2016, profits had grown by 23.3 per cent.
The slowdown peaked in November this year when profit growth was at 14.9 per cent, compared to 25.1 per cent in the same month last year.

It’s been a difficult few months for Zuma but will ANC chief Ramaphosa now recall him? [Xinhua]
The recall of President Jacob Zuma by the African National Congress (ANC) will be the first test of the new leader of the ANC, Cyril Ramaphosa.
Unlike the recall of former President Thabo Mbeki however, South Africa does not have the luxury of waiting ten months, as Moody’s Investors Service gave the South Africa government 90 days starting in late November to put things right.