china launches a brand new investment fund to propel its domestic chip industry and avert us restrictions. that friction between the us and china has allowed malaysia to step in as a new hotspot for semiconductor factories. hello and welcome to business today. i'm steve lai. to our top story — china has launched a brand new semiconductor investment fund, its largest one to date. the fund is worth over $47 billion, and comes as china tries to boost development of its domestic chip industry, amid us restrictions on beijing's access to advanced chips. china's finance ministry is the largest shareholder of the fund, along with investments from various government enterprises and state—owned banks.

those tensions between washington and beijing over trade and technology have encouraged businesses to look beyond china for their factories. malaysia for one is hoping get a larger slice of the semiconductor manufacturing pie. intel and globalfoundries are some firms that have recently expanded their operations in malaysia.according to some official estimates, malaysia hopes to double its share of the global chips trade from 7 to 14% by 2029. i spoke to the former deputy minister for trade and industry ong kian ming. he explained malaysia's role in the chips supply chain and also weighed in on china's new fund. i think there is challenge as well as opportunity. how do you go down to the innovative company that would be in the position to come out with new products in the semiconductor ecosystem? then there will be one challenge.

but there are also opportunities including opportunities for companies in the region and southeast asia including malaysia. either investing or going to china or attracting chinese companies to come to malaysia and set up shop to invest in the semiconductor ecosystem. i'm glad you brought us back to malaysia, because that's the focus when it comes to chips. you were in office for several years from 2018. where tips a focus area for malaysia? it was, but i think it was a start of us realising that the us—china tensions were here to stay. and i think the covid supply chain disruptions made everyone realise the importance of having a regionalisation we can see many more us european, japanese in terms of the supply chain and as a result, we can see many more us european, japanese korean and even chinese companies coming into

the region, to vietnam, singapore and malaysia to inquire, to invest and also to have totally new investments in malaysia. what would we understand about malaysia's roll? i think they occupy a crucial middle ground in terms of the middle of the supply chain. we are not of the top end of manufacturing, such as the face they occupy, but we are not at the bottom end as well, with a lot more entry—level manufacturing. in the ems services, as well as in the assembly testing, malaysia is a very crucial part of the supply chain. i think the malaysian government has identified areas where we want to help the value chain, including in some elements of chip design including

generative design, looking at advanced chemicals supplied to the semiconductor space and also the logistical know how we have in terms of assembly and packaging that's also very important supply chain. very important in the supply chain. it's a competitive space, but it's also fast—moving. the us is also increasing tariffs on chinese—made chips, but also electric vehicles. do you see this tension working in malaysia's favour? i think it is a challenge as well as an opportunity. i would also throw in solar tvs into the mix. there have been actions taken not just against chinese, but also complaints against dumping get some companies in the region. so the opportunity would be accompanied by the other parts of their world. my fear is that to what extent will the us start to focus their attention on the chinese supply chain that is growing in south asia?

in other news, elon musk�*s elon musk�*s artificial intelligence start—up x—ai says it has raised $6 billion in its latest round of funding. according to x—ai, the money will be used to improve its chatbot, grok which according to mr musk, answers questions with quote — "a little humour". it will also be used to accelerate the development of new technologies and products. mr musk was an early backer of rival openai, but later criticised the company and has since warned about the potential dangers of the technology. travel businesses are spending tens of millions of pounds preparing for the eu's much—delayed new border control it system. in a major change to travel arrangements, non—eu nationals will have to register fingerprints and a photo, alongside having their passport checked. the bbc�*s transport correspondent katy austin

takes a look at the impact this change will have on travellers. the european central bank has hinted it will most likely lower the cost of borrowing at its policy meeting next week. and also will mean people have to register the fingerprints, have a photo taken and also answered some questions about theirjourney. at places like dover, the registration process will have to be done here at the port. people queuing for ferries will be handing an ipad to collect the extra information. dover has already suffered from long queues at peak periods, and the time it will take what register has prompted concerns of longer weights. a first time traveller anticipate to... it depends on how many people are in the car,

what nationalities are in the car as well, so it will take a bit longer. car as well, so it will take a bit longer-— bit longer. the port is spending _ bit longer. the port is spending about - bit longer. the port is spending about £10 . bit longer. the port is - spending about £10 million preparing, trying to make things go smoothly. coach was a passengers will be processed in the separate area. there is also planned to reclaim land the sea. we've also got to think about drivers' hours and that cost. is drivers' hours and that cost. is not — drivers' hours and that cost. is not only _ drivers' hours and that cost. is not only dover that's affected. machines like this are taking people's details. spaceis are taking people's details. space is tight here to try to avoid long queues. it will install 49 new kiosk. his

expand to new areas to fit them in. �* ., in. behind me, we have... additional— in. behind me, we have... additional steps _ in. behind me, we have... additional steps where - in. behind me, we have... additional steps where we | in. behind me, we have... - additional steps where we have kiosk_ additional steps where we have kiosk and — additional steps where we have kiosk and those _ additional steps where we have kiosk and those kiosks - additional steps where we have kiosk and those kiosks will- additional steps where we have kiosk and those kiosks will be l kiosk and those kiosks will be positioned _ kiosk and those kiosks will be positioned just _ kiosk and those kiosks will be positioned just around - kiosk and those kiosks will be positioned just around the - positioned just around the comet _ positioned just around the corner. also, _ positioned just around the corner. also, a _ positioned just around the corner. also, a huge - positioned just around the . corner. also, a huge amount positioned just around the - corner. also, a huge amount of people — corner. also, a huge amount of people to — corner. also, a huge amount of people to guide _ corner. also, a huge amount of people to guide our— corner. also, a huge amount ofl people to guide our passengers. eurostar— people to guide our passengers. eurostar insists _ people to guide our passengers. eurostar insists preparation - eurostar insists preparation will mean people don't need to turn up any earlier before the train. to be reduced if queues bad, but still travel businesses have nerves about what is on the horizon. katy austin, bbc news. the european central bank has hinted it will most likely lower the cost of borrowing at its policy meeting next week. with inflation falling in a sustained way towards the central bank's 2% target, governing council 0li rehn said in a speech, the time is quote �*ripe injune to ease the monetary policy stance and start cutting rates'. this indicates the ecb

will likely move before the us federal reserve. to india now, where the country's food safety regulator has banned the unauthorised sale of breastmilk across all states. the ban comes after reports and representations were made that some companies were selling human milk in the open market. the bbc�*s arunoday mukharji has more on why they needed to crack down. this has been a concern as some have complained that there are some companies in the country which are involved in the practice of selling breastmilk. triggered along these complaints, india's top food regulator has come up with the directive saying that the unauthorised commercialisation of breastmilk is an offence and any company that is found to violate this order will invite punitive action. we've seen reports that there are these milk banks which are involved in the sale of breastmilk, but they operate as nonprofits. they are getting word from lactating mothers and this milk is sold at a profit. surprisingly, a lot of them have managed to get a licence

from the relevant authorities, saying that they are involved in the business of dairy products, but is later on, it has been found of these dairy products consist of powdered breastmilk. -- milk from lactating mothers. so, the food regulator issued a directed saying control needs to be contained still not canteen and no licenses should be given out to any company in such practices. global football icon david beckham has scored a new advertising deal with china's alibaba. the former england captain has been named the global brand ambassador of ali—express — alibaba's international e—commerce platform. ali—express is one of several high—profile chinese brands, like ev maker byd, that are sponsoring the uefa european soccer championship which kicks off injune. and that's it for this edition. i will see the same time tomorrow. bye for now.

i'm marc edwards, welcome to sportsday. hello. here's what we've got coming up on our show. farewell to the french open for rafa? nadal beaten in the opening round in paris, but is that the last we'll see of him at the tournament he's won 1a times? with pochettino gone, is maresca on the move as chelsea target the leicester city manager? sweet child ofjoss's. england captainjoss butler set to miss the third t20 against pakistan for the birth of his third child.

hello and welcome to sportsday. we start in paris, where rafa nadal has been knocked out of the french open in the first round for the first time — but hasn't confirmed that it'll be his last appearance at roland garros. nadal had previously said he expects to retire at the end of the current season, but following his straight sets defeat to alexander zverev, nadal left the door open for a return in the future. he has, of course, won this tournament a record—breaking 1a times, as ben croucher reports. when roland garros's canvas, one of tennis's great artists returned for one last hurrah. but a modern nadal dell paints a different picture. the 14—time champion has lost little focus, his finesse or his fire. we even saw the famous ferocious forehand.

bringing tears to his feet and every moment of man