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tv   Asia Business Report  BBCNEWS  February 20, 2024 2:30am-2:46am GMT

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and their 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 is quite remarkable what a difference a few years make but this is back. there this is back. are about a thousand participants here from more than 50 countries and if you could see behind me, this is the best and what is out there, the best and what is out there, the technology that exists drawing all these people in. much has happened in the world since the last air show happened. geopolitically speaking different conflicts in the region but also we are facing, as you mentioned, a supply chain issue and it was interesting how almost everyone has something on display but the glaring omission here is boeing. they did not have a passenger plane that they were
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bringing because their family of 737 maxs are under investigation in the future of that line of planes is unknown and that is something that people have questions about. also, the geopolitical tensions in the world have drawn a lot of people here. 50% of the participants represent defence contract is so we have members from the ukraine military as well as across the world we see people from south korea parts that are concerned about what they will need in their arsenal moving forward. in terms of passenger traffic, moving forward. in terms of passengertraffic, it moving forward. in terms of passenger traffic, it is almost back to the level that we were seeing before the pandemic. i spoke to the director—general of the association of asia—pacific airlines and he spoke about the slowdown in china and how that is impacting the industry as well as the supply chain crunch. at the moment there is a distinct shift to domestic and regional
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travel domestic travel in tyler is way above pre— pandemic levels. inbound travel into china picks up quite strongly. 80% of what it used to be that outbound travel is where the problem is with currency deflation and inflation and poor business sentiment i don't think the chinese are travelling well. supply chain issues of the biggest problem facing airlines today. it delays the delivery of new aircraft orders as well as maintenance and service because parts are not easy to come by. one of the other issues here as sustainability, a big topic within the industry and there has been goals of net zero by 2050 and we heard a lot about sustainable aviation fuel, the biofuel of choice these days to try to reach that goal but it may be a long way off. it takes, it costs 3— five times more than traditional fuel and not many people make it. we will hopefully see some new
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designs that the planes have to reach that goal and see some interesting green innovation year at the airshow. thank you so much and monica will be across all the big announcements as they are announced through the day. stay tuned for that as well. earlier i spoke to the director—general of the international air transport association. he gave me an overview of issues facing the industry. i me an overview of issues facing the industry-— the industry. i don't believe it will have _ the industry. i don't believe it will have long-term - the industry. i don't believe| it will have long-term effect it will have long—term effect but i think what is important is that boeing has responded and have taken ownership of the problem. they acknowledge that there is a serious issue they need to address and are going about that in the right way and thatis about that in the right way and that is what industry wants to see. i am confident that boeing will take the right measures and regain their status as a world—class global supplier.
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what about the chinese company? there's a lot of tension about the company sharing its plane at the airshow this week. can you position itself as a viable alternative to boeing and airbus in the future? in the lona airbus in the future? in the long yes — airbus in the future? in the long yes it _ airbus in the future? in the long yes it will. _ airbus in the future? in the long yes it will. they - airbus in the future? in the long yes it will. they have l long yes it will. they have significant ambitions and there has been great excitement about the entry into service of their plane. consumer reaction to their aircraft is exciting and there is great excitement about seeing their aircraft at the show here. in the long—term i think that when mac will be a credible competitor but it will take them time to establish themselves as a world—class supplier of medium supplies to aircraft but the sea 919. i wanted to ask about sustainability. the industry has a target to transition to net zero by 2050. it is a
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fairly ambitious target but we did here from singapore requiring all flights departing the country to have a sustainable fuel starting in 2060. do you think the ambitious target is achievable? especially given the challenges that the industry faces at the moment. i believe it is achievable, more importantly it is essential that we do it. there is no question that the industry is determined to achieve net zero and we wreck size we must play our part. use of sustainable aviation fuel is critical in that pathway to net zero. so i think singapore's initiative, while i am instinctively opposed to taxes and levies because i think there is little evidence of their environmental impact. the difference this time round is that the levy is going towards the purchase of sustainable aviation fuel and the idea is
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that this will kickstart greater production which is what the industry needs to see. other stories making business headlines and curries could be at the centre of a takeover battle after chinese e—commerce group jd battle after chinese e—commerce groupjd .com said it was considering an offerfor groupjd .com said it was considering an offer for the company. the potential bid emerged after curries set at the weekend it rejected a takeover approach from us investment firm. jd said it was still an in an early stage of evaluating the offer. shares stilljumped by more than one third. troubles for tiktok as the european union launches an investigation into whether it broke online content rules. the video sharing platform owned by a chinese company faces a fine of up to 6% of its annual sales and eu officials said the probe was over a suspected breach of transparency and obligations to protect minors. the eu �*s digital services act which took
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effect over the weekend requires large online platforms to do more to tackle illegal content and security risks. turning now to the mining industry because the world's biggest listed miner, bhp has reported its latest financial result earlier today. china is its biggest customer and its economy has been slowing down. the company made just over $6 billion in profit in the six months betweenjune and december but the company also cautioned that the next six months may not be as rosy. commodities analyst ride clyde russell told me that the results were encouraging given the overall environment. the fact that their _ the overall environment. tue: fact that their profits the overall environment. tte: fact that their profits were steady is a strong outcome if you consider what has occurred over the last year. we had weakness in the chinese economy, the western world slowing down. the fact that
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they have pulled off a profit outcome is impressive. i think what you are seeing is that while there are problems in the chinese economy the parts exposed to commodities are doing pretty well. you seem very strong imports of iron or, coal, copper, lng, oil, those kind of things which have been strong and bhp is a major beneficiary of that. strong and bhp is a ma'or beneficiary of that. where is demand coming _ beneficiary of that. where is demand coming from - beneficiary of that. where is demand coming from then l beneficiary of that. where is demand coming from then if beneficiary of that. where is - demand coming from then if the economy has been slowing down yet we see a relatively strong demand? �* , , .,, yet we see a relatively strong demand?— yet we see a relatively strong demand? , , demand? any people focus on the roblems demand? any people focus on the problems of _ demand? any people focus on the problems of the _ demand? any people focus on the problems of the chinese _ problems of the chinese residential property sector and thatis residential property sector and that is a big consumer of steel but the other part of the chinese economy that uses steel like vehicle manufacturing and white goods, infrastructure and construction unrelated to property, residential property like schools and those kind of things, that is actually being going quite strongly. so they have done fairly well. if you are looking at other commodities through china's oil
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demand has recovered to precovid levels and they are exporting a lot of fuel as well. �* ., ., ., well. before we go, the founder ofthe well. before we go, the founder of the japanese _ well. before we go, the founder of the japanese discount - well. before we go, the founder of the japanese discount chain l of the japanese discount chain daiso has died from heart failure at the age of 80. he was known as a pioneer of the delicious is this model. he began by selling goods from the back of truck and early 19705 and realised it was taking him too long to attach price takes so he charged a flat 100 yen per item. he then incorporated daiso a few years later and the company now has more than 4000 stores withinjapan and over a thousand overseas. he made $4 million us in revenue over the last year. let's have a quick look at the market. i know you may be bored of me talking about the decay but it is still teasing us, flirting with a record high level. 38915 is the magic number but currently flat to lower so we will continue to monitor that for you and that is it for this edition of asia
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business report. join us next time if you can. a morning on the mersey. today's lesson rowing. teamwork is the big one _ today's lesson rowing. teamwork is the big one but _ today's lesson rowing. teamwork is the big one but they _ today's lesson rowing. teamwork is the big one but they learn - is the big one but they learn re5pect is the big one but they learn respect for their crewmates and the teachers and the coaches here and we are very keen also on the fact that they should respect to nature and wildlife. the local high school is perfectly placed a standing on bank of the river mersey. emil bank of the river mersey. shall we change _ bank of the river mersey. shall we change over. _ bank of the river mersey. shall we change over. richard - we change over. richard co-founded _ we change over. richard co-founded the - we change over. richard co-founded the charity l we change over. richard i co-founded the charity that co—founded the charity that makes this possible. fine co-founded the charity that makes this possible. one of the byproducts _ makes this possible. one of the byproducts of — makes this possible. one of the byproducts of what _ makes this possible. one of the byproducts of what we - makes this possible. one of the byproducts of what we did - makes this possible. one of the byproducts of what we did was i byproducts of what we did was that we wanted to smash the elitist image of the sport and
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bring it back to grassroot and show the world that it does not have to be in uxbridge graduate to take part in a truly wonderful sport. to take part in a truly wonderfulsport. t to take part in a truly wonderful sport. to take part in a truly wonderful sort. ., ., wonderful sport. i love rowing. it is a fun _ wonderful sport. i love rowing. it is a fun sport _ wonderful sport. i love rowing. it is a fun sport because - wonderful sport. i love rowing. it is a fun sport because i - wonderful sport. i love rowing. it is a fun sport because i am l it is a fun sport because i am more — it is a fun sport because i am more into— it is a fun sport because i am more into basketball so rowing is a big — more into basketball so rowing is a big change for me but it is a big change for me but it is fun— is a big change for me but it is fun to _ is a big change for me but it is fun to do. | is a big change for me but it is fun to do.— is fun to do. i would love to do more — is fun to do. i would love to do more in _ is fun to do. i would love to do more in the _ is fun to do. i would love to do more in the future - is fun to do. i would love to do more in the future but i | do more in the future but i enjoy now so it would be great to do it at some point in the future. �* ., ., ., future. i'm glad i have had this opportunity, - future. i'm glad i have had l this opportunity, absolutely. i am stephen with the catch up. tonight, junior doctor strikes, palace changes its manager and a donkey love story.
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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 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 speak for teacher say that most schools already ban 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. could 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 6over pay. junior doctors there are paid less than in other parts of the uk. big football news. roy hodgson is stepping down as the
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manager of crystal palace. he 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, as 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, with hodgsons coaches ray lewington and paddy mccarthy taking charge on monday night:

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