lay-offs to beijing. plus, mass lay—offs in one place and recruitment drives in another. how tech workers finding themselves unemployed could look to asia for new opportunities. hello and welcome to asia business report. our top story today. the leaders of the world's two biggest economies, us presidentjoe biden and china's president xijinping have spoken on the phone, marking the first time the two have talked in months. that as the us treasury secretary janet yellen embarks on her second trip to china in less than a year. erin delmore has the details. , ., ., ~ details. the phone call marked the first one-on-one _ the first one—on—one communication between us presidentjoe biden and china's president xijinping presidentjoe biden and china's president xi jinping since november, and they had a lot of ground to cover. the risks associated with rapidly developing ai technology and military communications, and the trafficking of illicit

drugs like fentanyl. a white house summary of the call included a few others like china's "unfair trade policies" and preventing access to advanced us technology. and on the chinese side president xi reportedly called us support for any taiwanese independence effort "a red line" and accused the us are trying to suppress china's development of us technology. overfour china's development of us technology. over four days of meetings, treasury secretary janet yellen is expected to meet with some china's top political and economic officials as well as american business leaders and chinese professors and students. she is expected to warn china against flooding the market with cheap clean energy exports, things like electric vehicles and lithium—ion batteries. the white house is trying to bolster that industry domestically by offering its own tax breaks and subsidies. tesla shares have fallen almost 5%, that's after elon musk�*s electric vehicle maker reported deliveries have fallen sharply in the first quarter of 202a. the company handed overjust

over —— just under 387,000 cars to customers, the smallest figure in a year. it was down 8% year—on—year and far fewer than analysts expected. the ev company has grappled with a fire at its european factory, global shipping disruption and other challenges, but it may not all be bad news for tesla. byd has handed back the title of world's biggest ev selector elon musk�*s company, that's after china's biggest electric vehicle maker reported a 40% fall in first—quarter sales compared to the same period last year. tesla taking back the sales crown shows its global cloud will not be easily challenged, especially as both companies expect a slowdown in chinese ev sales growth this year. the head of the un's intellectual property agency has told the bbc that there is no appetite yet for a new global rules to govern artificial intelligence. he was

talking as new figures show that al is behind a growing number of the international patents applications. however, the overall number of applications fell last year. 1.6% of the first fall in m years. a reporter asked while the intellectual property director—general if that means it will affect getting on the way of innovation? i it will affect getting on the way of innovation?- it will affect getting on the way of innovation? i think what we're seeing — way of innovation? i think what we're seeing is _ way of innovation? i think what we're seeing is for _ way of innovation? i think what we're seeing is for the - way of innovation? i think what we're seeing is for the last - we're seeing is for the last two years there has been a different situation macro economically, interest rates have gone up, money supply has grown up with the result result that venture capital has reduced considerably, and i think what this means is it may be resulting in a reduction of oxygen to the fire of innovation and i think what we need to do is, we are trying to encourage policymakers to look at this and to make sure that when people are innovative, they have the best environment right to bring guidance to the

market. ~ . ., right to bring guidance to the market. ~ . ., ., market. when central banks are thinkin: market. when central banks are thinking about _ market. when central banks are thinking about the _ market. when central banks are thinking about the cost - market. when central banks are thinking about the cost of- thinking about the cost of borrowing, are they thinking sufficiently about technology and perhaps the chilling effect high cost of borrowing can have on innovation?— on innovation? there are two wa s to on innovation? there are two ways to look _ on innovation? there are two ways to look at _ on innovation? there are two ways to look at this _ on innovation? there are two ways to look at this but - on innovation? there are two ways to look at this but in - ways to look at this but in these moments of downturn but we tend to see as a focus on quality. that may not necessarily be a bad thing for innovation ecosystems around the world, so when the cycle turns up again, they will really be game changing technologies that come into the market, just like after the financial crisis in 2010. so when we _ financial crisis in 2010. so when we look at innovation in the global economy at the moment, a lot of the talk is about artificial intelligence. yes. ., ., about artificial intelligence. yes. . . , about artificial intelligence. yes. ~ . . , yes. what are the trends you are seeing? _ yes. what are the trends you are seeing? our— yes. what are the trends you are seeing? our company - yes. what are the trends you are seeing? our company is. are seeing? our company is actually coming up with ways to use this emerging technology? this technology is growing 170% faster than other types of technology and ai patented technology and ai patented technology is growing at 700%, and 20% of that is generative ai patenting. so we are

certainly seeing vip data that a lot of the growth is coming from al and generative ai, and i think we are beginning to see some of these applications, so for example we know that there has been an ai that has created millions of new crystals that can be used for orchid applications. these early days. what i like to see about al is any new technology, we probably overestimate its impact on the short run, but underestimate its impact on the long run. when we think about artificial intelligence, does the world need a new set of rules to govern how the trade marks and the creativity that comes from al is being used and how it is ai is being used and how it is governed? i ai is being used and how it is governed?— ai is being used and how it is governed? i think at this point in time the — governed? i think at this point in time the consensus - governed? i think at this point in time the consensus is - governed? i think at this point in time the consensus is that, | in time the consensus is that, in time the consensus is that, in the courts and many of these countries have said that we are not ready yet to name ai as an

inventor or a creator, and i think that decision probably makes sense, because what ai is doing right now is it is learning and replicating what is out there in the world, and until we reach a stage where there is a genuine human level of intelligence, artificial general intelligence as they say, i think the ip system would still be fundamentally the same. but right now i don't think there is an appetite for big global ai and ai treaty. let's see what happens. it is possible that the world will move in that direction and the time to come.— time to come. fascinating sace. time to come. fascinating space. staying _ time to come. fascinating space. staying with - time to come. fascinating space. staying with the i time to come. fascinating l space. staying with the tech sector and the start of the year has seen more lay—offs announced that a number of major tech companies, including google, microsoft and snap, but work finding themselves unemployed could look at the age of the new opportunities. that's because new research has found hiring is on the rise across the region but due to a shortage of talent, with australia, hong kong and singapore on the hunt for staff

in the tech sector. karen young is with the global hr platform deal and says overall the pace of lay—offs in the tech sector is starting to slow down. indie is starting to slow down. we have noted _ is starting to slow down. - have noted there is a 57% decrease in global hiring in asia itself. by global hiring we mean business is hiring everywhere and looking for talent anywhere, so we have seen lay—offs, as you've just mentioned, growing at the beginning of the year but we have also seen a decline as the year goes by from january 2023 to november 2023. tell year goes by from january 2023 to november 2023.— year goes by from january 2023 to november 2023. tell us more about the main _ to november 2023. tell us more about the main driver for - to november 2023. tell us more about the main driver for the - about the main driver for the growth of the apec region and where these hiring from? there is a talent _ where these hiring from? there is a talent shortage _ where these hiring from? there is a talent shortage as - where these hiring from? there is a talent shortage as well - is a talent shortage as well across asia, a lot of countries like australia, hong kong and singapore in high demand, as well as talent from vietnam, india and the philippines actually very high demand. singapore itself has seen an increase in foreign hiring.

coming up in a 300,000 contract we have analysed, top countries for foreign current to be we have analysed, top countries forforeign current to be —— talent to be hired from. vietnam, its economy grew compared to last year, largely fuelled by a boom in exports, but the south—east nation —— asian nation is facing difficulty after the president resigned last month, becoming the second leader to leave office in just the second leader to leave office injust14 the second leader to leave office in just 1a months. vietnam has been attracting record foreign investment due to manufacturers diversifying away from china, although ties with beijing remain close, with vietnam's foreign minister arriving in the chinese capital today. fund manager at asia frontier capital says despite the political turmoil, vietnam remains very attractive to foreign investors. i remains very attractive to foreign investors.- remains very attractive to foreign investors. i think you need to understand - foreign investors. i think you need to understand that - foreign investors. i think you need to understand that the | need to understand that the president has resigned and it is the second president that

has resigned in the last 1a to 15 months like you mention, but having said that, firstly the president's position in vietnam is largely ceremonial. i don't believe he has a very important say in decision—making. furthermore, i think it isa it is a very consensus —based decision—making in vietnam and also in terms of the impact on foreign investments, this anti—corruption tract, things that have been happening with the government, it has been happening for almost two years now, and it hasn't really impacted foreign investments. in fact, foreign direct investments into vietnam in 2023 were about $20 billion, but has the company has seen, about 5% of gdp, the highest in the region. so far i don't see it having an impact on vietnam's attractiveness as a foreign direct investment opportunity for many investors.

which sectors are particularly doing well in vietnam? especially post—pandemic, geopolitical tensions between china and the us we have seen a host of manufacturing move from mainland china into vietnam. almost 70% of foreign direct investments into vietnam is linked to the manufacturing sector. the manufacturing sector. the manufacturing sector is by far the biggest beneficiary of foreign direct investments into vietnam. that is it for this _ investments into vietnam. that is it for this edition _ investments into vietnam. that is it for this edition of _ investments into vietnam. that is it for this edition of asia business report. see you in the next hour. goodbye for now.

iam zof i am zof with the catch up. tonight, jk rowling's millionaire area and an easter dog parade. we start in gaza,

where three british nationals are among seven people who have been killed in an israeli air strike. they were working for world central kitchen in the city of deir al—balah when they were hit. it is an organisation providing meals for people in gaza at a time when access to food is limited and parts of gaza are at risk of famine. the boss of world central kitchen said it was an unbelievable —— unforgivable attacker may have put their work on hold. israel says the cars they were in hit unintentionally. some other stories now. you might have seen comments on x byjk rowling, where she trans women as men, despite complaints from the public, police have said this isn't a criminal offence. a new law has come on in scotland that has meant stirring up hatred against some groups a crime. the officers ship we shouldn't be criminalising people saying common—sense things about biological six. and taylor swift has joined biological six. and taylor swift hasjoined a biological six. and taylor swift has joined a list of the world's richest people. she has

entered the forbes world billionaires list with a wealth of $1.1 billion. a recent eras tour broke records and made over a billion in sales. and time now to leave you with ten seconds of an easter parade in new york. just look at these amazing outfits. safe to say the dogs were the star of the show, and look at their hairstyles as well. i think this pink coat has to be my personal favourite, this pink coat has to be my personalfavourite, though, and personal favourite, though, and i've just personalfavourite, though, and i've just realised i personalfavourite, though, and i'vejust realised i have unintentionally matched up with that. you are all caught up now. see you later. hello and welcome to sportsday. nottingham forest move away from the relegation zone, putting three past fulham.

setting the pace as adam peaty qualifies for the olympics in paris. and climbing is on the up. we will bring you the reason why. hello. thanks for joining hello. thanks forjoining us. there were five games in the premier league on tuesday. nottingham forest beat fulham 3-1 to nottingham forest beat fulham 3—1 to pick up three precious points in their battle to avoid relegation. forest dominated the first half and were 3—0 up at the break. morgan gibbs—white was on target, as were callum hudson—odoi and chris wood. the result leaves them one of the relegation places, three points ahead of luton. it is forest's biggest home victory of the season. indie home victory of the season. we will keep in _ home victory of the season. -

will keep in season, we will keep repeating, so these chances we cannot