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tv   Asia Business Report  BBC News  November 17, 2023 12:30am-12:46am GMT

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leaders ends in san francisco. plus — the everything store goes the extra mile. us shoppers will soon be able to buy their next car on amazon and have it delivered to their homes. hello and welcome to asia business report. we begin in san francisco where leaders of asia pacific economies are breathing a sigh of relief after us presidentjoe biden and china's president, we are waiting on the us president to speak momentarily. we begin in san francisco where leaders of asia pacific economies are breathing a sigh of relief after us presidentjoe biden and china's president, xijinping met for the first time in a year. after roughly four hours of talks, mr biden and mr xi emerged saying the world's two
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largest economies are willing to restart cooperation on a number of issues. meanwhile, the us president has sought to reassure apec nations about america's commitment to the region, despite beijing's efforts to expand its influence there. the bbc�*s james clayton sent us this report from the event. global even others have met today all under one roof posing for a connective photo. —— global leaders. we have seen president biden giving a talk about climate change and how the us as a beacon of stability in the pacific. i have to say, a lot of the most important meetings here today are happening behind closed doors. you have global leaders meeting of their global leaders and hashing out deals. i would also say that there are a lot of chief executives of major companies here as well. global leaders, notjust here to meet their counterparts but to meet
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their counterparts but to meet the ceos as well and we just saw the chief executive of google wandering past. he wasn't answering questions. that gives you a flavour of the kinds of people who are here and who global leaders want to do deals with. i would also say that there was quite significant protest here in san francisco this morning, the bay bridge one of the main arteries into the city was closed by pro—palestinian protesters for hours causing traffic, chaos. at the moment from what we can see at micro when it has not disrupted the summit too much. we may have more on that summit later on in the programme. as the world moves away from fossil fuels, major energy producers are refocussing their economies. saudi arabia, qatarand dubai are investing heavily in businesses including sports and tourism. neighbouring bahrain aims to help future proof itself by becoming a financial services hub. earlier i spoke to the director of fintech and innovation at bahrain�*s central bank,
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yasmeen alsharaf, and she told me how her country is planning to achieve that. like you rightly said in bahrain we are diversifying our economy from oil and gas. some history in the bahrain financial centre, we have one of the longest established financial sectors in the whole of the region dating back to the 19705. we are considered as a gateway, financial gateway to the wider region today. back to on our very progressive regulations, focusing on futuristic emerging financial bu5ine55 futuristic emerging financial business models, we have been able to grow our financial services sector which today is one of the largest, actually it is the largest contributor to our economy overtaking the oil
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and gas sector. we also have a very ambitious strategy to further grow the sector. al5o further grow the sector. also to increase its contribution to the economy by 2026. we have a number of six subsectors that we intend to focus on including thin tech, payments, capital markets, insurance, private banking. markets, insurance, private bankina. ,, ., markets, insurance, private banking-— markets, insurance, private bankina. ,, ., ., ., banking. singapore, hong kong, new york. _ banking. singapore, hong kong, new york. they _ banking. singapore, hong kong, new york, they have _ banking. singapore, hong kong, new york, they have been - banking. singapore, hong kong,| new york, they have been around for a long time how do you hope to compete with such established u5 financial centres. established us financial centres-_ established us financial centres. ~ , . centres. we believe thin tech is a great _ centres. we believe thin tech is a great and _ centres. we believe thin tech is a great and vital _ centres. we believe thin tech is a great and vital branch - centres. we believe thin tech is a great and vital branch forj is a great and vital branch for building 5ynergie5 is a great and vital branch for building synergies and cooperating with other leading financial centres across the globe. —— fintech. like a singapore in bahrain we are very progressive and we have established the first indicated fintech innovation unit in the region in the first onshore regulatory its inbox and we also have been pioneers in issuing regulations to support fintech activities such as
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opening banking, curtail asset5 ju5t opening banking, curtail asset5 just to name a few. now to other news.. amazon has reached an agreement with hyundai to start selling the auto maker's cars on its e commerce platform starting from next year. 0ur north america bu5ine55 correspondent erin delmore has the details. you can buy a lot of things on amazon, after all it is nicknamed the everything store. but come next year cu5tomers nicknamed the everything store. but come next year customers in the us can buy what is likely the us can buy what is likely the largest, most expensive and certainly heaviest amazon purchase of their lives. the everything 5tore purchase of their lives. the everything store is adding car5 everything store is adding cars to it's a menagerie of good starting with hyundai. it is a major update to the hyundai digital�*s 5how room on amazon. now cu5tomers digital�*s 5how room on amazon. now customers can browse models, get a car in your contact information to a dealer site. come next year, cu5tomers site. come next year, customers in the us will be able to buy a hyundai and schedule a delivery for the dealer all through
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amazon. in 25 new hyundai will add acce55 amazon. in 25 new hyundai will add access to the amazon alexa voice a55istant. thi5 capitalises on a trend we saw during the pandemic when 5tuck during the pandemic when stuck at home 5hopper5 turned to buying car5 at home 5hopper5 turned to buying cars online. hyundai and amazon announced the big news thursday at the los angeles auto show. we are still waiting to hear from the us presidentjoe biden speak at the end of the summit in san francisco on thursday he and his counterparts xi jinping met for talks that offered little in the way of concrete agreements when it comes to business. earlier i spoke to bu5iness. earlier i spoke to the economist intelligence unit lead analyst for global trade and he told me some of the larger i55ues and he told me some of the larger issues in us china ties remain unresolved. 0n on balance it is positive that both presidents actually 5at both presidents actually sat down and talked. thi5 both presidents actually sat down and talked. this is the first engagement face—to—face since around this time last year. in the interim, we have
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seen us china ties go through a period of volatility since 2023. since then we have seen a flurry of activity in the last few months aimed at putting a floor into the relationship. we look at some of the outcomes around ai look at some of the outcomes around al or establishing military dialogue or even those controls on offence and all, those are positive things and will injects momentum back into the relationship. the caveat here is these are very much on the sidelines of bilateral titles of larger i55ues the sidelines of bilateral titles of larger issues and the relationships reading from trade, technology, taiwan, human rights, the thornier i55ue5, human rights, the thornier issues, we have not seen a lot of progress on those. those are structural i55ues of progress on those. those are structural issues which will continue to weigh on the us china relationship as we had to 2024 and a5 china relationship as we had to 2024 and as we look forward for the rest of the decade. the meeting — the rest of the decade. the meeting was _ the rest of the decade. the meeting was on _ the rest of the decade. the meeting was on the - the rest of the decade. the meeting was on the sidelines of a much larger summit involving many more countries. what does this mean for those other asian economies who are in san francisco at the moment? you 'ust francisco at the moment? you just phrased it is _ francisco at the moment? 7m,
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just phrased it is everyone ju5t phrased it is everyone breathing a sigh of relief and i think that is very true for those asian countries. who tho5e asian countries. who weren't looking at the us china relationship closely. the us for many of these countries is their most important security partner for the same countries, china is their most important economic market it so this idea of having to choose 5ides between the two is a nightmare. something that no asian country wants to do. many of them really feel caught in the middle. so the fact that the two sides are sitting down not just at the presidential level but at the working level as well likely we will see and an expansion of engagements in the next year is all positive in something that will bring a lot of certainty and again relief to a lot of asian government business leaders. without the same time i think a lot of people are holding their breath there is a lot of tensions around taiwan, the softness he is the last of weeks, so i would say there is a bit of
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cautious optimism moving into all of this but at the same time that optimism is still there. at time that optimism is still there. �* ., ., . ., ., there. a lot of criticism that there. a lot of criticism that the deal's — there. a lot of criticism that the deal's lacked _ there. a lot of criticism that the deal's lacked any - there. a lot of criticism that the deal's lacked any real. the deal's lacked any real detail. 0n artificial intelligence you get the sense that these export controls for chips that are required in artificial intelligence are going to be able to be traded freely if they are produced in china? element that is a big question both of their two big things to look at. one, the fact that our user group is actually going to be implement it. ithink actually going to be implement it. i think even when we look at the agreements on the fence at the agreements on the fence at all, that has been a point with the us and china between years now. in reality the action at the measures that have been taken in a concrete way have been relatively limited. 0ne way have been relatively limited. one of the reasons why this issue keeps coming back up. i think we can extend that same logic looking at the discussion around ai particularly only take a step back and remember that both china and the us are looking to the world leaders in this specific area of technology. we look the export controls they are predicated a5 look the export controls they are predicated as much as much as they are on national security as they are on
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ensuring the us�*s lead in terms of its competitive edge. so based on those parameters we are not expecting a meaningful rollback of the us technology import controls anytime soon if thati5 import controls anytime soon if that is going to come engagement. the boss of carlsberg russian bu5ine55 the boss of carlsberg russian business have been arrested after the kremlin took control of the beer company. the pair were detained on wednesday. it comes after they terminated their business in russia berg la5t their business in russia berg last month to the state taking over its subsidiary injuly. the pair are accused of fraud but carlsberg branded the allegations fake. that is all the time we have. thanks for watching. bbc news bringing you different stories from across the uk.
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just a tractor spreading fertiliser on a field near caernarvon. hang on, there's no driver. meet the agbot, one of the first ai tractors in the uk. this machine was developed in the netherlands on large flat fields and not quite the terrain we've got in many parts of north wales. so these students have been asked to see what it can do forfarmer5 here. they are particularly interested that it's light weight and won't compact the soil. i think something like this would be very handy as where we live and it would stop compaction and things with the winter coming now. so yeah, you can go with the tractors in more places. well, this machine is an excellent machine. the technology has changed much as the years gone on, and i'm sure it will be an advantage to farmers. i think that it's going to not take over every operation, i but it's here - as an aid for farmers to make their life easier. so one farmer might be able to run four of these - at the same time, and he can
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carry on doing other- various stuff on the farm. but while the farmer's away and the agbot is working by itself, the developers stress it is safe. sensors will slow it down if anything comes anywhere near and stop it completely if there's something in the way. for more stories from across the uk, head to the bbc news website. hi. i'm dylan with the catch up. tonight — inside a gaza ho5pital, more access to the pill and world records. first up, after days of fighting in the area, israel's military has been searching gaza's biggest hospital, which they say is being used as a command centre for hama5, which runs gaza and is considered a terror organisation by the uk. the bbc has been taken inside the al—shifa hospital by israeli forces showing what they claim are hama5 weapons and ammunition. the team are only taken
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to locations of israel's choice and weren't allowed to speak to doctors or patients. but the hospital's director says they run out of oxygen and water with hundreds of patients still inside. hama5 deny having a base there. if you want to read more about the israel gaza war, check out the bbc news app and the website. some other stories now. and from next month, it'll be easier to get the contraceptive pill in england. a new scheme means the pill and a few other prescriptions will be available over the counter. rapper travis scott has spoken for the first time about the deaths of ten people in a crowd surge at one of his gigs. he told g0 he was overly devastated by the loss of life at his a5troworld festival two years ago. and the scottish health secretary says an £11,000 data bill racked up on his parliamentary ipad while on holiday in morocco was caused by his son's watching football. michael matheson has paid all the money back and finally his 10 seconds of guinness world records day from driving a truck on two
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wheels to the highest pogo stick backflip and even a little bit of double dutch handstand skipping. these guys have some of the coolest records in the book. i mean, just look at that. that's it for me. you're all caught up.
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hello and welcome to sportsday with me sarah mulkerrin5. closer than expected, but it's australia who are through to the cricket world cup final after a tense match against south africa. thi5 weekend's grand prix could be the coldest on record — it's the first time las vegas has hosted it for 41 years and temperatures are expected to plummet. and the new research programme helping to reduce injuries in female athletes by monitoring the menstrual cycle. welcome. so after 6 weeks of action, we now know who'll be in the final of the cricket world cup — au5tralia will meet the hosts india.
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but it wasn't a straight forward 5emifinal.

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