tv Asia Business Report BBC News May 22, 2017 1:30am-1:46am BST
1:30 am
hello, i'm kasia madera. our top story. president trump has urged muslim leaders to drive out terrorism from their countries. speaking in saudi arabia, he described it as a battle between good and evil. the president also used strong language against iran, saudi arabia's biggest rival, accusing it of fuelling sectarian conflict and terror. he now travels to israel and the palestinian territories. north korea has confirmed that it successfully tested an intermediate—range ballistic missile. south korea's new government says the latest test has dashed its hopes for peace. and this story is trending on bbc.com. an indian mountaineer is said to have reached the summit of mount everest for the second time in less than a week. anshu jamsenpa, who's 37, made her first successful ascent on tuesday. that's all from me for now. stay with bbc news. and the top story here in the uk. party leaders in scotland have engaged in their first major debate of the campaign — with some robust exchanges on the question of a second independence referendum — and the implications of brexit.
1:31 am
now on bbc news all the latest business news live from singapore. oil takes oiltakesa oil takes a backseat to security as donald trump makes his first overseas trip to saudi arabia. what happens when a reporter tried to buy a supercarfrom happens when a reporter tried to buy a supercar from this luxury car vending machine? it is a monday. glad you could join us for this edition of asia business report. donald trump has just wrapped edition of asia business report. donald trump hasjust wrapped up edition of asia business report. donald trump has just wrapped up a weekend in saudi arabia. the relationship has been in oilfor the
1:32 am
last 70 years. trump's protectionist policies to support drilling may not sit well with the saudis but it did not top the agenda on this meeting. earlier, i asked not top the agenda on this meeting. earlier, iasked if not top the agenda on this meeting. earlier, i asked if this will have any impact on oil prices. earlier, i asked if this will have any impact on oil priceslj earlier, i asked if this will have any impact on oil prices. i can't see any connection. donald trump is out of the cauldron in domestic politics and is on a stage where he can show his dealmaking skills. certain issues you don't want to bring up. you don't want to bring up oil because effectively, the us and the saudis are competing for market share. and the price of oil has been affected by the ramp up of production in the united states but could the saudi funds into billions of dollars deterred going forward shall production, particularly from the base in —— basin?
1:33 am
shall production, particularly from the base in -- basin? the independent oil producers, the hydraulic fractures, they are showing they can still produce. effectively, the american independent oil producers become the global swing producer. budgetary the trump campaign, he vowed to unleash in the us. could he start pulling back on these campaign promises which he has done over the past few months of his presidency?” which he has done over the past few months of his presidency? i would have to say, trump has already taken steps to unwind some of the 0bama gnashers. the keystone pipeline —— 0bama blockers. he is challenging the american producer. america can be an oil power. that in saudi
1:34 am
arabia, this visit, oil has taken a backseat then you have this other meeting with other oil producing countries, extending to supply cuts. how will this affect oil prices going forward? there has been a spin coming from 0pec members about the success coming from 0pec members about the success of these cut back measures. just the fact they are extending it for another nine months. you have had a russia come out, recently, talking about their export strategy. thejury is talking about their export strategy. the jury is still out on 0pec. we are range bound. it's like the us speed limit. 0nce are range bound. it's like the us speed limit. once we go above 55, the red lights go off, the market settles back down. i then trending upwards before the end of the year. well, bowling announced it had signed several defence deals with
1:35 am
the kingdom. saudi arabia agreed to buy helicopters in the deal that will be around $3.8 billion. wohling also said it would negotiate the deal of 16 wide—bodyjets to saudi gulf airlines —— boeing. the trans—pacific gulf airlines —— boeing. the tra ns—pacific partnership countries have agreed to pursue an agreement without the us. they were at the forum in vietnam's. president trump ditched the tra ns—pacific partnership shortly after taking office saying it was a bad deal. the us dollar was sold off last week as investors started to question president trump's ability to deliver on his reform agenda. we will be keeping an eye on that this week. also coming up, the bank of korea will hit up old it's first meeting after the new president was elected
1:36 am
and a week after the news that japan's economy is growing better than expected. the chain will announce its figures on friday. earlier i spoke to paul petron from scotia bank. it is a tough week. there is not a lot of tier one economic news until wednesday. and then we wait forjapan's cpi. what about the potential james then we wait forjapan's cpi. what about the potentialjames comey testimony and north korea. what will really make headlines and in that investor sentiment? north korea will today. there is a question on whether we open up with strength in the dollar which has been plagued by wea kness the dollar which has been plagued by weakness lately. will we have a sell—off in yemen? —— yen. it is a
1:37 am
very important move. are investors moving from equities to fixed income for safety? for all of this volatility? it seems that leverage best as ours. we haven't yet seen enoughin best as ours. we haven't yet seen enough in on how people view the equity backdrop to do a wholesale change but saying that, if there is going to be a rate path ahead that is different, we may see it. the bank ofjapan is different, we may see it. the bank of japan has is different, we may see it. the bank ofjapan has announced their end of month data and of course, last week, what a big surprise. five consecutive quarters of expansion. is this good news for the japanese economy? without question. the one kv it would be that the export data was strong. —— a caveat. spending is it still a bit muted. it is good
1:38 am
news. it will give japanese policymakers are left. and of course you have the bank of korea also meeting. will they give a monetary policy gift to the new president, briefly? i don't think so just yet. i think they need a few arrows left in their quaverfor when i think they need a few arrows left in their quaver for when they need them. japan is supposedly the place you can buy just them. japan is supposedly the place you can buyjust about anything but there is a new kid on the block. has singapore outdone the home of self—service and shopping with this? it isa self—service and shopping with this? it is a vending machine for superca i’s. it is a vending machine for supercars. we sent the reporter timothy mcdonald. well, buying a car in singapore is a lwa ys well, buying a car in singapore is always expensive and there is usually a lot of paperwork. but if you have about half $i usually a lot of paperwork. but if you have about half $1 million burning a hole in your pocket, there isa burning a hole in your pocket, there is a whole new way to do it. you
1:39 am
come to this private and secure room to pick out your car on these apps. for me, it will be a lamborghini. what else? 0nce for me, it will be a lamborghini. what else? once you pick it out, the amazing bit happens. it brings it down, almost like a giant vending machine and while you wait, it plays an exciting promotional video for you. the best thing is you can only drive it at 90 kilometres an hour in singapore. part of the reason i understand you built this dealership is because of the kind of land pressures and costs that you face. that's right. with a footprint i have, i can install about 60— 80 cars. if i do it this way, the size of the land of this place. that was the reason we came up with this idea. you also reallyjust wanted to deal something really cool as well,
1:40 am
right? we wanted to make it like a beauty pageant. we are building a stage. let the customers take a look and decide. who is the winner, you know? decide to buy the car. and decide. who is the winner, you know? decide to buy the canm and decide. who is the winner, you know? decide to buy the car. it has been described as a car vending machine. can you reallyjust a swipe your credit card and drive away? we are working on it and yes, i believe so. are working on it and yes, i believe so. i think for cars, are working on it and yes, i believe so. ithink for cars, it are working on it and yes, i believe so. i think for cars, it can be. inside the begu bestry, it is a curious mix of amusement park ride and elevator that we are told, in fa ct, and elevator that we are told, in fact, it's a much more efficient way to get the car to the customer, it ta kes a to get the car to the customer, it takes a few minutes. —— inside the vending machine. maybe i will take
1:41 am
the honours. let's do it. i'm sorry, i think you had better call your bank. that's never going to happen. thank you very much! before we go, here is a look at the markets in asia. all in positive territory. japan gaining ii7 markets in asia. all in positive territory. japan gaining 117 points, the all awards up by 30. thank you for your time today. sport today is coming up next. bringing you up to date on our top stories. on his first foreign tour — president trump has urged muslim nations to take the lead in fighting terror. north korea has confirmed the country's latest ballistic missile test. south korea said it dashes hopes of building bridges. the conservatives have said
1:42 am
they won't re—consider their controversial plans for social care funding, despite warnings of a possible backlash. the tories want elderly people to pay for their own home care out of their estates, but leave them with 100,000 pounds. labour and the liberal democrats oppose the proposals. 0ur political correspondent alex forsyth has the latest. 0ne one of the proposals last week, a fairer country for young and old. record of their funding for schools, real technical education for young people at the first ever proper plan to pay for and provide social care. -- it to pay for and provide social care. —— it will be about what it will mean for homeowners and pensioners.
1:43 am
yesterday, to rita mae was asked to explain. what is the detail? currently in england, you have paid for care is you have assets more than £23,250. that will go up to £100,000 so nobody with assets worth less than that will have to pay but the new calculation will include the value of your house, even if you are cared for at home. the conservatives say this policy shows if they end up backin this policy shows if they end up back in here, they will make the tough choices needed by governments. borisjohnson said he understood peoples reservations but the thrust of it was right. however, the pa rty‘s of it was right. however, the party's political opponents sent some vulnerability. sellar we are seeing this weekend is the conservatives under increasing pressure because they have chosen a
1:44 am
dimension tax. they are coming for you. labour as well is coming into the attack. unfortunately, people are calling it a dimension of tax. you don't know what you are going to suffer from. you don't know what you are going to sufferfrom. i you don't know what you are going to suffer from. i have you don't know what you are going to sufferfrom. i have been true dementia in my family, i know what it's like. what happens is, the burden falls on you. the tories say, to sustain a system that sticks, they will concentrate on the details. labour is pledging to older voters, confident on this they can gain some ground. laura now website. —— more on our website. now it is time for sport today. hello. this is sport today,
1:45 am
live from the bbc sport centre. coming up on this programme — the fans celebrate as real madrid claim a first spanish league title in five years. while arsenal miss out on the champions league for the first time in 20 seasons. and as zverev beats djokovic, the world number two turns to a former grand slam champion for help. hello and welcome to the programme where we start with the footballing news that real madrid have won their first spanish league title since 2012 after a 2—0 victory away to malaga on sunday. goals from cristiano ronaldo and karim benzema sealed the win for a 33rd primera division trophy, and despite barcelona winning 11—2 at home to eibar, los blancos finished three points clear. earlier i asked our football reporterjohn bennett if their head
74 Views
IN COLLECTIONS
BBC News Television Archive Television Archive News Search ServiceUploaded by TV Archive on