tv Asia Business Report BBC News July 17, 2017 1:30am-1:46am BST
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i'm babita sharma with bbc news. our top story. a women has been shot dead and three others injured while waiting to vote in an unofficial referendum in venezuela. this video is believed to show people rushing away from the scene as gunshots were fired. the vote follows months of violence and political unrest. police in spain have accused an organised crime group of trading meat that's unfit for humans across europe. more than 60 people have been arrested. and the new dr who in the popular bbc sci fi drama has been announced — and, for the first time, it's a woman. the actorjodie whittaker becomes the 13th timelord replacing peter capaldi, who took the role in 2013. that's all from me for now. stay with bbc news. and the top story here in the uk. the chancellor philip hammond has said public sector workers‘ generous pensions mean they receive a premium — but he refused to repeat newspaper reports that he called them overpaid. now on bbc news, all the latest business news live from singapore.
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china is about to reveal its latest gross numbers. will it show the economy slowing down of stabilising? we visit somebody that helps capture the imagination of millions of fans around the world. good morning asia, hello world. it's‘s the start of a brand—new trading week, glad you could join us. very soon, china will be unveiling its latest economic growth numbers. officials say they are changing the way they calculate what makes up the economy, by including contributions from
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healthcare, tourism including contributions from healthca re, tourism and including contributions from healthcare, tourism and the new economy. the last time chinese authorities changed how their gdp was calculated was in 2002. this will give us a better indication of how well the mainland guru from april— june this year. earlier, the china economist with hsbc told me that this reflects the chinese transitioning economy. we have seen over the past two years that the new economy set is in hiring and manufacturing have been outperforming the rest of the economy. a lot of them are growing in double digits. even though they are starting from relatively modest sizes, on the whole, they are of a sufficient size to be recognised. healthcare, tourism sufficient size to be recognised. healthca re, tourism and sufficient size to be recognised. healthcare, tourism and economy, will this bump up economic growth for the chinese economy in the
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long—term or the medium—term? for the chinese economy in the long-term or the medium-term? the statistical calculations have shown that the immediate impact may not be as big. we are expecting gdp to be 6.8% for the second quarter of this year, a very marginal slowdown from the first quarter at 6.9. there is no doubt that over the medium term, this will be a very significant shift. it reflects a strong transformation of the chinese economy. when is a significant shift, how many percentage points could this add to growth? shift, how many percentage points could this add to growth7m shift, how many percentage points could this add to growth? it is difficult to say at this point, we are still forecasting very much into the future. to give you a sense, we're looking at manufacturing and services sectors growing in double digits year over year. traditional manufacturing sectors, up until last, were still facing deflation. the diverters between the sectors,
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new growth and traditional businesses, are actually quite stark. i think over time it will be a significant contribution. in other business headlines: ahead of the second round of brexit talks, the british chancellor has told the bbc that businesses are holding off from investing in the uk because of concern about the exit.” from investing in the uk because of concern about the exit. i think it is absolutely clear that businesses, where they had discretion over investment and they can hold off, they are doing so. you can understand why. they are waiting for more clarity about what the future relationship with europe will look like. the way to get the economy moving, to restore business confidence and consumer confidence, is to give as much clarity as possible as early as possible, which is why i have been talking of the last four or five weeks of the
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importance of a transition arrangement. i believe the great majority of my colleagues now recognise that that is the right and sensible way to go, both in the uk and the european union. uber‘s biggest rival in southeast asia could be about to get a big financial injection. they could be seeing a $2 billion investment in the company. if it goes ahead, it would make grabbed the most valuable start up in the region at $5 billion us. one company has decided to go on strike for the 50 year in a row over negotiations for better pay. they are making better plans for the staff walkouts. property developers in asia have not had an easy time over the past few years. from china to singapore, governments have
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proposed initiatives to prevent property prices from inflating. it has worked, but has caused prices to become deflated. one in developer for opportunity in nantes. in this week's to minutes with, we speak to one executive. yet another new building to add to the singapore skyline. it is being put upi the singapore skyline. it is being put up i am australian property developer. i am speaking to the ceo of asia, tony lombard oh. thank you for joining of asia, tony lombard oh. thank you forjoining us. here in asia, you are looking to expand, but this comes are looking to expand, but this co m es after are looking to expand, but this comes after years are looking to expand, but this comes after yea rs of are looking to expand, but this comes after years of cooling measures being put in place by governments, trying to stop a property bubble. why asia? we have beenin property bubble. why asia? we have been in asia for 44 years, we thought it was the right time for this project, which we brought back in 2015. ultimately it stems from being a multigenerational company in
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this new and vibrant community. that isa this new and vibrant community. that is a bit ofa this new and vibrant community. that is a bit of a challenge, because if you build it, will they necessarily come? the great thing is that we wa nt come? the great thing is that we want a retail and residential cycle today, and we have seen are starting today, and we have seen are starting to pick up. we are pretty confident on the singapore market. we think it is going to start turning and growing from this point on. the other thing you are doing is you are trying to target the elderly market, thatis trying to target the elderly market, that is a problem in asia. tell us how you are doing that? in australia, we are the largest owner and operator. it has been a core pa rt and operator. it has been a core part of our business. china has a great need for singular living product. we will see a huge increase
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in people over 65 in china. they are aiming to really drive back to private industry. we feel there is a great opportunity for us to use our skill sets and bring our owner— operator approach to china. we do that interest rates are on the rise in the us and elsewhere. how is that going to impact your business? globally we have been adjusting to that strategy for quite a while. clearly for us as a business, we have been trying to diversify our portfolio and make sure we are taking the right opportunities at the right time to grow our portfolio internationally. game of thrones debuts its seven season tonight, and it has a huge following. many of the iconic props used in the show were
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made in india. over six seasons, television fans have seen game of thrones capture the imagination of millions of people. far from the seven the imagination of millions of people. farfrom the seven kingdoms, the costumes, is that an authentic armoury that feature in the show are serious business for a few firms in india. it is notjust game of thrones. this man supplies props too many hollywood productions, from the avengers and gladiator to the star wa rs avengers and gladiator to the star wars franchise. it is only india and the subcontinent which has the art of hand embroidery. they can't get it in the west. that is why we do embroidery and we do anything that is very handmade, it is very period looking. i'm in heaven, i don't know
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where to begin. i havejust spotted a prop from gamer thrones, but nothing can beatjohn snow. here is my chance to try my hand at his cloa k. my chance to try my hand at his cloak. it is fairly heavy, i don't know how he does it. i even have his sword. and what isjohn snow without his trusty weapon? this is where his swords are made. the largest factory of its kind, located in the foothills of the himalayas. they make every type of thought, from heavy steel to light titanium. it supplies two armies around the world, but it swords are not sold commercially in india. what we possess is only i would say, 2%. sometimes it can stretch into 30%, it depends on the movie. but it is mostly seasonal. this army business
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is not seasonal. is the details that make a story, live on the big screen. make a story, live on the big screen. as long as the big battles go on, it means more business on the workflow here. —— these. time for a quick look at the market is now. we are seeing some cautiousness among investors as they await the chinese growth numbers later today. thank you very much for investing your time with us. have a product on monday. —— productive monday. the chancellor, philip hammond, has said cabinet colleagues who have been briefing the media against him should instead focus on thejob in hand. after newspaper reports about discussions around the cabinet table, he said noise was being generated by people
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opposed to his focus on jobs and the economy during brexit. he also addressed claims he'd described public sector workers as overpaid. here's eleanor garnier. he's the man of the moment, though not for the reasons he'd like. for the second time this week, the chancellor has found himself defending private comments in public. this time accused of saying public sector workers are overpaid. something he did not deny. i have told you, i'm not going to talk about what comes out of a private cabinet... five of your colleagues have. they shouldn't have done, frankly, because cabinet meetings are supposed to be a private space in which we have a serious discussion. i am the chancellor. you would expect me to put any discussion about public sector pay in the context of the fiscal and economic situation that we face. among the millions of public sector workers, it's teachers out protesting today, plus others like police
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officers and nurses who faced a 1% pay cap since 2012. celebrating workers' rights at a festival in dorset, the labour leader accused the chancellor of being out of touch. i think he's living on a different planet to many others. public sector workers have had frozen wages for the past seven yea rs. health workers in reality have had a 14% cut in pay. many teachers don't stay on in the profession because they can't afford to find somewhere to live on the salaries they get and the strain they are under because of shortages. the chancellor hinted today there could be better news for public sector workers at the budget later this year, but in an unusual move, he slapped down cabinet rivals briefing against him. some of the noise is generated by people who are not happy with the agenda that i have, over the last few weeks, tried to advance of ensuring that we achieve a brexit which is focused
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on protecting our economy, protecting our jobs and making sure we can have continued rising living standards in the future. one of the cabinet's prominent leave campaigners, the international trade secretary, denied being behind the briefings. i absolutely deplore leaks from the cabinet. i think my colleagues should be very quiet, stick to their own departmental duties, and i think that the public expect us to be disciplined and effective, our backbenchers are furious and the only people smiling at this will be in berlin and paris. public sector workers continue to make their concerns known. as it seems do members of the cabinet, who, with the prime minister's authority in tatters, are in no mood to do as they are told. hello, i'm marc edwards at and this is sport today, live from the bbc sport centre. coming up on this programme:
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federer the record breaker. the king of wimbledon wins his 8th title at the all england club. lewis hamilton wins the british grand prix at silverstone and closes the gap in the drivers‘ standings. home sweet home. hosts, the netherlands, kick off their euro 2017 campaign with a win. hello and thanks for joining us on sport today. there simply no better place to start than with the man who just can't stop winning. roger federer surely the youngest 35 year—old in sport, breaking records again after picking up his eighth men's singles title at wimbledon. he beat marin cilic in straight sets on sunday and joe linskey was there to witness the fed in full flow. in centre court history one
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