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tv   Asia Business Report  BBC News  March 19, 2024 3:30am-3:46am GMT

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let's start injapan where there is a lot of expectation from analysts that the central bank will put an end to its negative interest rates. the policy has been in place for 17 years and japan was the only nation left in the year that kept that stance. for more on these expectations we have an analyst and partner at ey. we are hearing reports this is likely to be the end of the 17—year—old policy of negative interest rates? 17-year-old policy of negative interest rates?— interest rates? exactly this afternoon _ interest rates? exactly this afternoon the _ interest rates? exactly this afternoon the governmentl interest rates? exactly this i afternoon the government will announce at a press conference we are policy. . announce at a press conference we are policy- -_ we are policy. . what will this mean for— we are policy. . what will this mean forjapan? _ we are policy. . what will this mean forjapan? it _ we are policy. . what will this mean forjapan? it will - we are policy. . what will this mean forjapan? it will mean | mean forjapan? it will mean the beginning _ mean forjapan? it will mean the beginning of— mean forjapan? it will mean the beginning of an - mean forjapan? it will mean the beginning of an exit - mean forjapan? it will mean i the beginning of an exit from the beginning of an exit from the deflationary economy we have been in for decades so it is quite a symbolic move to getting back into the world with an interest rate positive.
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could you elaborate on what this would mean for consumers? sure, consumers will be affected by this policy change through commercial banks changing its short—term crime rate, it will be impactful in two ways, for savings account for instance it is good news because we will finally see some positive numbers is interest on our savings. but for the borrowers it would mean if you have a variable rate it could go up, according to the commercial banks decision, and you would be liable for a greater interest payment. if you would be liable for a greater interest payment. if we are talking _ greater interest payment. if we are talking about _ greater interest payment. if we are talking about moving - greater interest payment. if we are talking about moving out i greater interest payment. if we are talking about moving out of negative interest rates, what sort of a move are we looking at? ~ ., ., ., ., at? mood, the mood in businesses. _ at? mood, the mood in businesses. not - at? mood, the mood in businesses. not the . at? mood, the mood in - businesses. not the mood, what kind of number— businesses. not the mood, what kind of number are _ businesses. not the mood, what kind of number are we _ businesses. not the mood, what kind of number are we looking i kind of number are we looking at? ., ' , ., ,.,
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at? from -.1% to somewhere around plus _ at? from -.1% to somewhere around plus 196. _ at? from -.1% to somewhere around plus 1%. those - at? from -.196 to somewhere i around plus 196. those numbers seem incredibly _ around plus 196. those numbers seem incredibly small, - around plus 196. those numbers seem incredibly small, can - around plus 196. those numbers seem incredibly small, can you| seem incredibly small, can you help us understand why that is so significant orjapan which is the world? fourth—largest economy? it is the world? fourth-largest economy?— is the world? fourth-largest econom ? , ., ., economy? it has been marinated in this negative _ economy? it has been marinated in this negative interest - economy? it has been marinated in this negative interest rate - in this negative interest rate policy for so long, moving to normalise above zero is quite significant and they would only do so because it does not want to upset the market, it wants to upset the market, it wants to see the read concussion of the interest tight because it is so unprecedented in recent times. —— percussion. is so unprecedented in recent times. -- percussion.- times. -- percussion. this would be _ times. -- percussion. this would be a _ times. -- percussion. this would be a positive - times. -- percussion. this| would be a positive outlook times. —— percussion. this would be a positive outlook for the japanese economy going forward? ., ., , , , forward? for now because this is on the _ forward? for now because this is on the back— forward? for now because this is on the back of— forward? for now because this is on the back of the _ forward? for now because this is on the back of the way - is on the back of the way increased announced during the wage negotiation which was more than 5%, quite a big numberfor japan which has seen the absence of wage increase for some time. the wage creasing
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coming with the moderate inflation of 2% or more will be a good start to get the economy into the healthy vibe again. thank you for giving us that context for what a change in japanese interest rates would mean stop. turning to the us. nvidia has unveiled its latest chip that could transcend generative ai technology to the next level. the new processor could scale up the company's dominance in the chipmaking industry. our north american business correspondent erin delmore has the details. nvidia unveiled its new graphics processing unit at a developers conference in california on monday. it's called the blackwell and it is meant to build on the success of the company's existing gpus which are in demand around the world. nvidia makes powerful chips that are used to develop ai technology and the blackwell is expected to allow more advanced ai models to be built. it is also expected to be a boon for the company which has ridden ai enthusiasm to the top of the market. at the developers conference
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in california on monday the ceo of the company called generative ai the defining technology of our time. some of the biggest names in tech are expected to use blackwell gpus and we expect to see the technology in action later this year. bob o'donnell from technalysis research was at the event in sanjose, california. with all the anticipation built up for nvidia's latest product, he says it wasn't your typical technology conference. the atmosphere was like a rock concert. i have not seen something like this in the tech industry in quite some time. some people were making analogies to the early days of steve jobs but the buzz was in the air and the feel of the event was very much like a concert. and jensen was a rock star. he has presented many times in the past but this was clearly his moment and he was soaking it up because the company is on top of the world right now. everyone wants to know what are they going to do? they have a new blackwell gpu,
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the latest chip to accelerate ai and then, importantly, not quite as sexy nor as well understood, they had software innovations that will help to make the process of companies using generative ai which then use their chips easier and that will be a big dealfor them in the long run. tell us how nvidia are keeping ahead of the competition. they seem to be the market leader at the moment. one of the interesting things about blackwell, on one hand you can say it is the next generation chip and technically it is but what is interesting about what is happening with it in the world of generative ai is that many of the earlier chips that were being used for generative al was designed well before most people knew what generative al was. blackwell is arguably the first generation of chip that was designed in this gen ai era so they knew what they were doing. and there are a number of elements there
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that in some cases you want 4x or 5x improvements in performance versus previous generations. so they have done a number of things internally within the chip that allow them to access a bigger large language models and do twice as many calculations. and that is all by refinements within the architecture. who are their biggest rivals? next to an indian city battling poor rainfall. ineffective water conservation has made matters worse, leading to reservoirs drying up. the bbc�*s arunoday mukharji reports on how the crisis is affecting the city known as india's �*silicon valley'. residents waiting for a basic need. water. something they should have had easy access to within their homes.
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now both water and people's patience are running low. drinking water atms here are in high demand. for less than a dollar, people fill a can but it is a daily hassle. that glass of water first thing in the morning that so many people take for granted has become a struggle for people over here in some parts of bengaluru. this is a daily morning routine. lining upjust to get their bottles filled. this is the main source of water, but it has failed to reach all corners of a rapidly growing city. made worse by poor rainfall, forcing sections of the city to rely completely on water tankers. this neighbourhood of 3500 residents needs 50 tankers a day. but supply now is down to half. they have to go far away to get the water and the cost escalates around twice the cost
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that we are paying right now. despite authorities putting a $12 cap on prices for water tankers, in some parts of the city people say they are charging double or even triple the amount. authorities say they are working on alternatives to tide over the crisis. depending upon the water sources for other non—drinking purposes, we plan to take that water to the commercial industry establishment who can do water recovery. bengaluru is the fourth largest technology hub in the world after silicon valley, boston and london. but it has come at a price. the population boom swallowing up the city's many lakes, once also a crucial source of water. we are completely reliant on the water. we need to re—architect solutions including lake water,
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rain water, and groundwater and treated waste water. this city of 1a million is only going to grow. and if civic infrastructure fails to keep pace, instead of a free flow of water, the city will be forced to count every last drop. evergrande group's founder has been barred from china's securities market. regulators have accused the group's flagship unit of securities fraud, failing to make timely disclosures, and inflating its earnings by around $80 billion. hui ka yan was once asia's second—richest man and in charge of one of china's biggest real estate developers. but last september, evergrande said its founder was being investigated over suspected crimes. to confirm a story we were
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telling you about earlier in the programme.— telling you about earlier in the programme. the bank of jaan the programme. the bank of japan has — the programme. the bank of japan has ended _ the programme. the bank of japan has ended its - the programme. the bank of japan has ended its negative| japan has ended its negative interest rate policy which has beenin interest rate policy which has been in place for 17 years. japan was the only nation left in the world that still kept that stance. it raised its short term policy rate target from —0.1% to between zero and zero 1%. and that's it for us here on asia business or. —— report. thanks for watching.
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i am julia with the catch up. our first story — only one in five nhs mental health trusts have specialists that can deal with conditions like tourettes in england and wales. that's what new research from the bbc has found. over 300,000 people in the uk are living with the condition which causes people to make sounds and movements known as tics. big artists such as billie eilish and lewis capaldi have opened up about having it. isabel is a journalist here at the bbc and was diagnosed at seven. my parents struggled to get the diagnosis but then the follow—on support was not there either.
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in the end, my mum had to homeschool me because my tics got so bad that schools just did not want to take me on. the government says it is committed to supporting people living with tourettes syndrome and other tic disorders. other stories now. nottingham forest have been docked four points for breaching the premier league's finance rules meaning the club has dropped to the relegation zone and it is likely that forrest will appeal. and banksy�*s back. 0n instagram, he confirmed a new mural in finsbury park, london is his creation — with bright green paint he has made this tree look like it is blooming. and the classic banksy stencils shows someone holding a pressure hose there on the bottom left. crowds have created a buzz in the area ever since. and we will leave you with ten seconds of this ridiculously cute baby rhino. whipsnade zoo is celebrating the birth of a southern white rhino. he only looks little at birth — but he already weighed
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in at 45 kilos. you are all caught up now. have a good night. hello and welcome to sportsday, i'm sarah mulkerrins. coming up on the programme: a premier league points deduction for nottingham forest. they're punished for breaking financial rules. kenny calls time on her cycling career. britain's most successful female 0lympian retires from racing. and mcilroy has high hopes, as the pga and liv golf tour continue to talk about a potential merger.
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hello and you are very welcome to the programme were ever you are in the world. we start with a huge day at the bottom of the premier league — where nottingham forest have dropped into the relegation zone after breaking the division's profit and sustainability rules. their punishment comes after the club admitted losses last season that breached the threshold by £3115 million, but that might not be the end of the story as our sports news correspondent laura scott reports. frustration at the final whistle for nottingham forest after letting a lead slip against their relegation rivals. "points deduction, it's coming for you," the luton town fans sung. and they weren't wrong. two days on and forest were ruing another result as an independent commission found them guilty of breaching commission profit and sustainability rules by £34 million.
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and docked them four points, plunging them into the bottom

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