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tv   Asia Business Report  BBC News  December 11, 2017 1:30am-1:46am GMT

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it's time for palestinians to accept the reality thatjerusalem is israel's capital. there were more violent protests across the middle east in response to president trump's decision. in beirut tear gas was used against protestors outside the us embassy. venezuela's leader nicolas maduro is banning the main opposition parties from standing in next year's presidential election. he said only parties which took part in sunday's mayoral elections would be allowed to participate. and this video is trending on bbc.com... it's this elephant attacking a bus in south—west china. it's not clear why it took such a dislike to the vehicle, but you'll be glad to know that neither the elephant nor anyone on board the bus was hurt. that's all from me for now. stay with bbc news. heavy snow has led to power cuts and disrupted rail and road travel, in many parts of the uk, while flights have been disrupted at several airports.
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now on bbc news all the latest business news live from singapore. trading in bitcoin futures that debuts on the cbo e. we find out what it might mean to the price of the currency. asia's central bank— will let follow suit? hello and welcome to asia business report. us options exchange has kicked off trading in the com futures ahead of its rival cm e. the currency‘s value has rocketed from less than $1000 to more than 17,000 on friday and the
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ability to trade in the coin futures has given more legitimacy to the currency but will it affect its value? it is now trading at around $15,000. we have been seeing it trade for a couple of hours and at the price has been seesawing but these huge gains make us feel we wish we bought? it is either side of the debate. a lot of people feeling envious today and the entire time bitcoin has been going up, % from potential investors of the fear of missing out but, at the same time, some real concerns are that this crypto currency. does it have anything backing it? look at the volatility. you are talking earlier about it was going from $1000 but
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along the way it looked at the jagged along the way it looked at the jagged spikes. it is a real indication aboutjust how much volatility in this crypto currency. now that it has traded in futures, lots of concern about what that would do to the volatility. today and again next week, we will see when it starts trading with the cm e. famously, a lot of people do not rate this, some saying it is a fraud. they are a lot of risks. if you do not understand what you are getting into, financial and rises say expect something like a 60% drop in the value of your assets if you are investing in bitcoin or rather crypto currencies. having said that, the cboe website was down because of
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the cboe website was down because of the level of interest and trade fall april pushing the value of the kind up april pushing the value of the kind up to beyond 16,000 a ton to dollars so up to beyond 16,000 a ton to dollars so the right people out there who believe in the value and what the future might hold. they are expecting it to be pretty rosy. we will have to keep watching that. for many people, it is getting harder to spot the fake news from the real news. frauds and scammers are not anything new but the internet seems to spread it more quickly and more cheaply. we spoke to the director of research company and she says three elements are needed to create fake news. number one, financial. the bad quys news. number one, financial. the bad guys are news. number one, financial. the bad guys are rounded. we did an
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incentive that they would gain from disrupting business. the second is political space. trying to ride the wave of elliptical issues which are more pronounced in certain countries and regions. and the third is discrediting a politician or perhaps a journalist, anyone who has a status in that committee. in asia, we see more on the political and the discrediting of the individual. how much would it cost to discredit a journalist, instigate a street protest all the smear a celebrity? with the availability of underground tunnels so cheap today, it can cost you about $1000 only which is about four times when you want to wind a legitimate campaign. so it is cheap because of the availability of underground tools which makes it
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easier and the spread is eager. four times cheaper than a traditional campaign. can we put a financial cost on fake news? it is a difficult in the industry to come up with a figure because we have not seen added effects but we have seen the first wave, creating awareness. we are not seeing how they would harvest it so it is really difficult. the damage is on the minds of the people. they are forming different ideas. so far germany is the major economy to adopt regulation against fake news. why are we not see more government work faster? what is that the existing legal framework? not work faster? what is that the existing legalframework? not a lot of nations have strong cybersecurity measures and that is one measure and the second one is it requires
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private partnership and the knowledge of a lot of technology because this is nothing that can be taught in the book, it comes with people working together and coming together to increase the level of india is one of the fastest—growing aviation market. recently klm and jetair india aviation market. recently klm and jet air india have deepened their partnership. it would give europe greater access to the indian market. but india has even more potential for investment. i think there are different ways of investing in the market and if we see what the market position was between amsterdam and india, two years ago it was one flight india, two years ago it was one flight per day— a klm flight between amsterdam and delhi which is nothing
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for a market of this size. now today, 200 indian companies are investing a lot of money in amsterdam and choose it as their headquarter. it is really an investment in the markets. let's ta ke investment in the markets. let's take a look at what is coming up this week. on tuesday, the hotly anticipated meeting of the federal reserve which begins the two—day meet expecting to hike interest rates for the third time this year. indonesia ‘s central bank meets on wednesday and it will likely react to that decision from the us federal reserve. 0n to that decision from the us federal reserve. on thursday, the philippines central bank is doing likewise but they are expecting to keep their rates stable. we are also expecting more economic data from china as well. the world ‘s second—largest economy will release its data on. i asked what we might
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see from the federal reserve meeting? that have been three rate hikes this year at a believe that is what they will carry out. they will continue stressing the labour market has been strong but whether russ some doubts and inflation picking up in particular where wages are will rise and jobs being created so that isa rise and jobs being created so that is a bit ofa rise and jobs being created so that is a bit of a dilemma. a fairly strong report on friday forjobs. a lot of central banks in this region tend to watch what is going on in the us. indonesia amongst them as well as the philippines. for indonesia, they have cut rates twice this year in the third quarter so the best thing they can do is to hold steady. it would be too soon to suddenly shift gears. they are
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sitting on a very confused central banks but i expect to shift to slightly more neutral and next year perhaps one rate hike. with the philippines as well, we can see currencies fairly volatile in the regions. what are we expecting from there? in the philippines, we are expecting a higher shift towards rate hikes next year but now the central bank governor is signalling there are a lot of domestic issues and they will not follow effect just yet. china did not do this last year, yet. china did not do this last yea r, every yet. china did not do this last year, every body expecting a weak trade data but they came out with hugely strong data and we are expecting more industrial reduction in data stop what are you anticipating? a little bit of
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stabilisation. the national party congress saw some of the data slow down is part of the winter data, the steel mill, the cement factory shutting down so they will be stabilising rather than picking up in tandem with exports. exports will over $0 in tandem with exports. exports will over so the strength but i believe it will stabilise. looking at the markets of... pretty much flat in asia. wall street ended up higher. thank you for watching. the top stories this hour. more protests in the middle east after donald trump recognises jerusalem as the capital of israel. the brexit secretary david davis, says britain won't pay a divorce bill for leaving the european union,
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if there's no final trade deal with the eu. here's our political correspondent iain watson. was the strain beginning to show? this was the prime minister on her early morning dash to brussels on friday. there was relief all round that talks could move on to trade, but serious challenges lie ahead. the eu has called for more clarity about what kind of future relationship britain wants. today, the brexit secretary tried to give it. canada plus, plus, plus would be one way of putting it. so what on earth does that mean? well, canada has negotiated a wide—ranging trade deal which gets rid of most tariffs on goods exported to the eu, but it doesn't cover everything. a canada—plus deal would also include financial services, a vital part of the uk economy, and could well cover employment rights too. if you look at any free—trade deal, what you see is agreement on where product standards normally comply. that's what it comes down to. sometimes, you see other things. in the free—trade deal between europe and canada,
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they say on labour standards, they will not go below the ilo, the international labour 0rganisation minimum. but he made clear that paying a divorce bill to the eu would be dependent on getting a good deal. i don't expect to see an awful lot of seasonal goodwill when ministers finally discuss what kind of deal they want to do with the eu just before christmas. already, for example, the brexit secretary and the chancellor seem to disagree over whether we should pay a divorce bill under all circumstances. but one thing has become clearer today — what labour would do ifjeremy corbyn moved in here to number ten. the shadow brexit secretary signalled an unwillingness to move too far away from eu rules and regulations. do we see europe as our major trading partner in the future? or do we want to rip ourselves apart from that? and he suggested that like norway, labour wanted to stay close to the eu and may be prepared to pay for access to its single market. norway pays money in. they do it on a voluntary basis, but there may be...
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would you accept it? there may have to be payments, that would have to be negotiated. and the shadow foreign secretary would consider staying close to the eu's customs union too, which might restrict the ability to do trade deals. most of our trade is with the european union. we're just stating a fact, and so we should not be kiboshing that. the political parties have contained some of the disagreements in europe by being a bit ambiguous about the future. but with trade talks about to start, difficult decisions can no longer be deferred. ian watson, bbc news. time now for all the sports news in sport today. hello, i'm gavin ramjaun — and this is sport today, live from the bbc sport centre. coming up on the programme: manchester city break premier league records as they convincingly see off rivals manchester united at old trafford.
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barcelona are five points clear at the top of la liga with a victory at villareal. and ronnie 0'sullivan wins the uk snooker championship for a record equalling sixth time. first, manchester city's record breaking season goes from strength to strength. they continued their unbeaten run in the english premier league, with a 2—1victory over rivals manchester united. pep guardiola's side also ended united's a0 match unbeaten run at old trafford. city went ahead through david silva on 42 minutes — only for united to be handed a lifeline in first—half stoppage time, when poor defending allowed marcus rashford to level. nine minutes after the break, nicolas 0tamendi scored the winner. it's a 14th victory on the trot for city — a new premier league record for consecutive wins in the same season.

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