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tv   Asia Business Report  BBC News  February 20, 2024 1:30am-1:46am GMT

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the supply chains of role in the supply chains of major manufacturers. monica miller is there for us and joins us live. it looks like it is getting busy now? it joins us live. it looks like it is getting busy now?- joins us live. it looks like it is getting busy now? it is. we are less than _ is getting busy now? it is. we are less than one _ is getting busy now? it is. we are less than one hour - is getting busy now? it is. we are less than one hour from l are less than one hour from this event really kicking off. one thing we have been discussing a lot on the show and particularly at the airshow is our travel. when will we see the pre— pandemic numbers get back up again? particularly here in the asia—pacific region. to give us the latest information i am joined now by the director—general of the association of asia—pacific airlines. thank you forjoining us on the programme. where do we stand in terms of passenger traffic in the region? it is time to kick the pandemic to the curb because if you look at it, passengerfactors are the curb because if you look at it, passenger factors are as high as they have ever been and
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the asia—pacific region is expected to account for 50% of the travel growth in 202a. let's talk about supply chain issues, something we've heard a lot about. how is that impacting airlines in this region? it impacting airlines in this reuion? , ., ., ,, region? it is not great. supply chain issues _ region? it is not great. supply chain issues are _ region? it is not great. supply chain issues are the _ region? it is not great. supply chain issues are the biggest . chain issues are the biggest issue — chain issues are the biggest issue that airlines face today. it really — issue that airlines face today. it really delays the delivery of new _ it really delays the delivery of new aircraft orders as well as maintenance and service because _ as maintenance and service because parts are not easy to come _ because parts are not easy to come by. — because parts are not easy to come bur-— come by. china's economy is startin: come by. china's economy is starting to — come by. china's economy is starting to show— come by. china's economy is starting to show signs - come by. china's economy is starting to show signs of - starting to show signs of slowing down and we saw recent statistics yesterday that passengers are travelling but they are not spending the way they are not spending the way they used to. what are your projections for china? i think there is a distinct shift to domestic and regional travel at the moment. domestic travel in china is already above the pre— pandemic levels. inbound travel to china is also picking up strongly. about 80% of what it used to be but outbound travel
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is where the problem is and with currency deflation and inflation and poor business sentiment i think the chinese are not really travelling now. what are some of the biggest markets you are seeing potential in for southeast asia. . , potential in for southeast asia. ., , ., ., asia. india is going great nuns. asia. india is going great am it _ asia. india is going great guns. it used _ asia. india is going great guns. it used to - asia. india is going great guns. it used to be - asia. india is going great guns. it used to be 596 i asia. india is going greatj guns. it used to be 596 of asia. india is going great - guns. it used to be 596 of the guns. it used to be 5% of the international travel and 8% already— international travel and 8% already shooting for 10%. and vietnam, _ already shooting for 10%. and vietnam, for instance there is a big — vietnam, for instance there is a big market. vietnam, for instance there is a big market-— vietnam, for instance there is a big market. what are some of the challenges _ a big market. what are some of the challenges you _ a big market. what are some of the challenges you are - a big market. what are some of the challenges you are seeing? | the challenges you are seeing? you said supply issues but what else is out there?— else is out there? supply chain issues and _ else is out there? supply chain issues and hopefully _ else is out there? supply chain issues and hopefully china - else is out there? supply chain issues and hopefully china will| issues and hopefully china will -et issues and hopefully china will get back— issues and hopefully china will get back on its feet soon but i think— get back on its feet soon but i think the _ get back on its feet soon but i think the biggest challenge is fuel cost. it is very high. even _ fuel cost. it is very high. even though some brent crude has come _ even though some brent crude has come down fuel prices are still higher than what they were — still higher than what they were before the pandemic. sustainability is a big issue notjust in the industry but here at the airshow. what are your projections? they talk about using sustainable aviation fuel, biofuel but it is very expensive and hard to
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come by. what is the solution to get to that goal of net zero emissions by 2050? it is to get to that goal of net zero emissions by 2050?— to get to that goal of net zero emissions by 2050? it is on the su -l emissions by 2050? it is on the supply side _ emissions by 2050? it is on the supply side of— emissions by 2050? it is on the supply side of the _ emissions by 2050? it is on the supply side of the equation. - supply side of the equation. government and fuel supplies have — government and fuel supplies have to — government and fuel supplies have to do more to make sure that— have to do more to make sure that the — have to do more to make sure that the suppliers there because airlines are ready to make — because airlines are ready to make use _ because airlines are ready to make use of everyjob available and yesterday the singapore government announced levies to try and _ government announced levies to try and get some money to purchase — try and get some money to purchase the fuel so airlines, no matter— purchase the fuel so airlines, no matter where they come from they are — no matter where they come from they are waiting to take up this— they are waiting to take up this fuel. they are waiting to take up this fuel-— this fuel. we will leave it there. sustainability - this fuel. we will leave it there. sustainability as l this fuel. we will leave it i there. sustainability as well as our travel and supply chain issues are ongoing issues that we will be discussing to try and get some answers to throughout the week. thank you so much for— throughout the week. thank you so much for that _ throughout the week. thank you so much for that update. - throughout the week. thank you j so much for that update. monica will be across all major announcements coming today and throughout the week so stay tuned for that. willie walsh is the director—general of the international air transport
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association and earlier he gave me an overview of the issues facing the industry such as safety concerns. i facing the industry such as safety concerns.— safety concerns. i don't believe _ safety concerns. i don't believe there _ safety concerns. i don't believe there will - safety concerns. i don't believe there will be i safety concerns. i don't| believe there will be any long—term effect what is important is that boeing has responded and taken ownership of the problem and put their hands up and acknowledge that there is a serious issue they need to address and i think they are going about that in they are going about that in the right way and that is what the right way and that is what the interest rate watches see. i am confident that they will take the right measures and regain their status as a local supplier of aircraft.- supplier of aircraft. what about a chinese - supplier of aircraft. what i about a chinese company? supplier of aircraft. what - about a chinese company? there is a lot of attention with a company showing off at c 919. can you position itself as a viable alternative to boeing and airbus in the future? but and airbus in the future? not on the near _ and airbus in the future? not on the near future. _ and airbus in the future? iirrt on the near future. over and airbus in the future? iirrt on the nearfuture. overtime on the nearfuture. over time it will. it may have significant ambitions with great excitement of their entry
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to service plan. they said consumer reaction to the aircraft is very encouraging. i think there is great excitement about seeing the aircraft at this airshow. in the long—term i think they will be a credible competitor to boeing and airbus but it will take time for them to establish themselves as a world—class supplier of medium—sized aircraft. world-class supplier of medium-sized aircraft. other stories making _ medium-sized aircraft. other stories making business - stories making business headlines this morning. british electoral goods retailer curries could be at the centre of a takeover battle after chinese e—commerce giantjd didcot — mac.com said it was considering an offerfor didcot — mac.com said it was considering an offer for the country company. bid emerged after curries at the weekend said it rejected a takeover approach from a us investment company. jd says it was still at a very early stage of evaluating a possible bid for the retailer. sharesjumped by more than one third. troubles
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for tiktok as the european union launches an investigation into whether it broke online content laws. video sharing platform owned by buyer to dance, the company based in china faces a fine of up to 6% of its annual sales. many eu officials say the premises of elected breach of transparency and obligations to protect minors. the digital services act which took effect over the weekend requires large online platforms to do more to tackle illegal content and security risks. turning out to the mining industry because the world's biggest listed miner, bhp has reported its latest results this morning and in china it is its biggest customer. but the economy, as we have been speaking about, has slowed down. the company made just over $6 million has slowed down. the company madejust over $6 million in profit in six months between june and december but it cautioned that the next six months may not be as rosy.
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commodities and energy columnist claude russell told me that the results were encouragement that make encouraging.— encouraging. the fact that their profits _ encouraging. the fact that their profits were - encouraging. the fact that their profits were steady l encouraging. the fact that| their profits were steady at $6.6 billion, that is actually a very strong outcome if you consider what has occurred in the past year or so. we have had weakness in the chinese economy, the western world slowing down. so the fact that they have actually pulled off a steady profit outcome is quite impressive. what we are seeing is that while there are problems related to the economy the parts exposed to commodities are doing well so you are seeing strong imports of iron or, coal, copper, lng, oil, those kind of things have been quite strong and bhp is a major beneficiary of that. where is the man coming from of the economy has been slowing down and yet we see a relatively strong demand? relatively strong demand ? people relatively strong demand? people focus on the problems in the chinese residential property sector and it is a big
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consumer of steel but the other part of the chinese economy that uses steel like vehicle manufacturing and white goods, infrastructure and can instruction not related to property, residential property like schools and those kind of things, that has been going quite strongly. so they have done fairly well. if you are looking at other commodities, china's oil demand has recovered to basically precovid levels and they are exporting a lot of fuel as well. ibihi?’ levels and they are exporting a lot of fuel as well.— lot of fuel as well. bhp warned about i interest _ lot of fuel as well. bhp warned about i interest rates - about i interest rates impacting on profitability going forward. what you make of that? , , that? there is still uncertainty - that? there is still uncertainty about | that? there is still - uncertainty about how long that? there is still _ uncertainty about how long high interest rates may prevail for and the effect they will have so i think they are right to be cautious. what they are really saying is that they expect things to get wetter but it may be a story for the second half of 2024 rather than the first. before we go, the founder of the japanese discount retail chain die so has died from
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heart failure at the age of 80. he was known as a pioneer of the dollar shop is in this model. he started by selling goods from the back of a truck in the early 19705 and realised it was taking him too long to attach pricetags he decided to charge a flat 100 yen per item. he incorporated the company a few years he incorporated the company a few yea r5 later he incorporated the company a few years later and it now has more than 4000 stands injapan and almost 1000 oversea5. it made around $4 billion in revenue over the last year. and here is something you may not expect to be at the centre of industrial action but workers at the eiffel tower have gone on strike. the monument was closed on monday with the french union demanding staff salaries be increased in proportion to ticket sales. the union also accuses the operators have won the world's most popular tourist attractions of underestimating the cost of maintenance and repairs, impacting safety. tourists were rather
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disappointed. that is it for this edition of the business report. thank you so much for dropping in. bbc news bringing you different stories from across the uk. every step is going on the right direction. this is manchester and this was available. this area has so much to offer. it is more than just a landscape, for some it is a lifeline.— just a landscape, for some it is a lifeline. i was wanting to net is a lifeline. i was wanting to get peeple — is a lifeline. i was wanting to get people outdoors - is a lifeline. i was wanting to get people outdoors and - get people outdoors and socialise. people who have gone through the same difficulties. over 20 years this man battled his addiction that destroyed his addiction that destroyed his life. ., ., .,, his addiction that destroyed his life. ., ., ., his life. isolation, iwas a lonely person, _
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his life. isolation, iwas a lonely person, i- his life. isolation, iwas a lonely person, i was - his life. isolation, i was a i lonely person, i was broken. i ruined my friendships with loved ones and my relationships went downhill.— went downhill. after many solo works he has — went downhill. after many solo works he has now _ went downhill. after many solo works he has now created i went downhill. after many solo j works he has now created snow but snowdonia, walking groups of people have been through similar challenges. i of people have been through similar challenges.— of people have been through similar challenges. i thought i should make _ similar challenges. i thought i should make this _ similar challenges. i thought i should make this available i similar challenges. i thought i should make this available to | should make this available to anyone to choose to do it. but organised walks and invite other people suffering addiction or in recovery or even family members of people struggling. for even family members of people stru: culin. ., ., even family members of people struggling-— struggling. for more stories from across _ struggling. for more stories from across the _ struggling. for more stories from across the uk - struggling. for more stories from across the uk head i struggling. for more stories from across the uk head to| struggling. for more stories i from across the uk head to the bbc news website. | from across the uk head to the bbc news website.— from across the uk head to the bbc news website. i am stephen with the catch _ bbc news website. i am stephen with the catch up. _ bbc news website. i am stephen with the catch up. tonight, i with the catch up. tonight, junior doctor strikes, palace changes its manager and a donkey love story. first if you are in school and cannot get through the day without a sneaky look at your phone the government wants to stop that
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happening. schools in england have been given new guidance. one option is a total ban at school and another is having to hand your phone in before you start class or keeping it off and in your bag. some unions which speakfor teacher and in your bag. some unions which speak for teacher say that most schools already banned phones so there is not much of a problem to fix. ministers reckon the plan will cut down on disruption and improve behaviour. some other stories now. would you have type 2 diabetes but not you know yet? experts think around 1 million adults in england have not been diagnosed and are worried lots of young people could be at risk. the condition causes blood sugar levels to spike and can lead to serious health problems if it is untreated. junior doctors in northern ireland have voted to go on strike for the first time. they will walk out for 24 hours on march six over pay. junior doctors there are paid less than in other parts of the uk. big football news. roy hodgson is stepping down as the manager of crystal palace. he
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was in hospital on thursday after feeling a bit unwell during training. the club are outside the premier league relegation zone. the former frankfurt boss is taking over. and time now for ten seconds of a lonely donkey. we told you before about harold the donkey losing his best friend, billy the goat. but now it is all fine. harold has two new mates and is apparently madly in love. it is all very wholesome. you are all caught up. have a great night.
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hello and welcome to sportsday with me, betty glover. amadou onana rescues a premier league point for everton, a5 crystal palace's new manager watches on. girona's unlikely la liga title bid suffers another major blow as they are beaten by athletic bilbao. are bayern munich heading for a trophyless season? the german side have hit a nine year low with three defeats in a row. welcome to sportsday, we begin in the premier league
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where new crystal palace manager oliver glasner watched on from the stands as his side drew 1—1 against everton at goodison park. the 49—year—old austrian replaces roy hodgson, who stepped down on monday. and after everton missed a big chance — with james tarkowski's header well saved — palace opened the scoring from almost nowhere — thanks to jordan ayew. before amadou onana grabbed the equaliser from a header at the back post. a crucial point takes everton out of the bottom three on goal difference, while palace remain five points off the drop zone. former entract frankfurt boss glasner was announced a few hours before kick off. hodgson who's 76, was taken ill during training on thursday last week, amid reports he was going to be sacked. the club say that he is now out of hospital and doing well, but in the same statement announced that his second managerial spell at the club had come to an end. glasner�*s first game will be on saturday against burnley,
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with hodgsons coaches ray lewington and paddy mccarthy taking charge on monday night:

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