tv Asia Business Report BBC News January 22, 2018 1:30am-1:46am GMT
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m .' . z“. “egg ' our top story, afghanistan officials say at least 80 people were killed ina say at least 80 people were killed in a deadly attack on a hotel and cobble. fighters from the taliban that targeted the intercontinental. most victims were foreigners, many worked for an international airline. the us senate is holding a rare sunday session as members attempt to end the budget stalemate that has close down the federal government. in this video is trending. it is a two climbers who were airlifted to safety after spending a night without shelter in subzero temperatures. the men were stuck on a 1000 metre peak in the scottish highlands until coastguard rescue tea m highlands until coastguard rescue team managed to reach them. that is all for me, state with our secure bbc news. —— stay with us here on bbc news. a top story here in the uk, ukip's
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party members have unanimously backed a vote of no—confidence in party leader. now, let's head over to asia business report with sharanjit leyl. to asia business report with shara njit leyl. as to asia business report with sharanjit leyl. as democrats and republicans struggle to reach a deal that would end the government shutdown, we find out what impact it might have on the economy. and the malaysia town of penang may not be a household name but it is one of asia's tech capitals. hello and welcome to asia business report, i sharanjit leyl. the us government shutdown enters its second day and thousands of workers have been ordered to stay at home as politicians continue to battle over immigration issues. senate lawmakers are holding a special meeting on sunday to try to end the budget deadlock, and dalla porta has been
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monitoring all the developments from the newsroom. what is the latest? well, there is no deal yet but lawmakers are hard at work on capitol hill, trying to come to a compromise to try and bring an end to this shutdown. so we are seeing some senators come out to say that they are seeing signs of progress but at heart, the heart of the dispute has to do with a very controversial deal over the dhaka programme, where undocumented immigrants who came to the us as children may possibly be deported if they do not get legal protections extended in march. and so, we are going to see key vote at about 1pm eastern time, as to whether we will see a quick and or prolonged shutdown. and which government agencies do you think are going to be most impacted if indeed there is a prolonged shutdown? well, under the 0bama administration, which we last saw a shutdown in 2000 betting
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that lasted for about 16 days, and we still quite a lot of services affected them. the trump administration has moved to try and minimise the impact, having learned from that. we will see things such as the military, thejustice department, the courts, and even the postal service continue as per usual. as for the national parks, you will not be able to use restroom if you visit some of them. we will also see a fax to the white house, most of the staff there will be put on unpaid leave. that will affect things such as donald trump's trip, he is supposed to make a keynote address on friday but that is now up in the air. in terms of the economy, we are not expecting much impact as it drags on for a long time. and what about impact on the markets? we know that the asian markets have already opened. so far, the asian markets are flat. investors are pretty much shrugging off the
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investor turmoil, instead they are focusing on corporate profitability since we are in the middle of the earning season, as well as the outlook for the global economy. now, indian conglomerate alliance industries expects its earnings to increase further after hitting a record in the third quarter. —— reliance. it recorded a profit for the first time ever and for more now, we'rejoined by how indian business support mumbai. rather surprising results for their business, tell us why that is? absolutely, this is really surprising. they came onto the market in 2016 and it offered free services for the first six months, it is still offering very cheap data plans and essentially free phones for a small security deposit. so, no
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one expected them to post profits so far, but it has. reliance has invested $30 billion in this business and has already posted profits of around $70 million, but what it has really done is it has disrupted the telecoms market, and it has affected a lot of other companies. so, the company's obviously buoyed by its oil refineries, so it is expected to a lot more in the telecoms market in the months to come. now, we know that india is just a the months to come. now, we know that india isjust a huge the months to come. now, we know that india is just a huge telecoms market, how is all of this impacting the sect? absolutely. what gioux has done is it has really triggered a price war and forced consolidation in other companies —— g0. they have posted six straight profits, surrey,
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a drop in profits for six straight quarters. a merger will make it india's largest telecom conglomerate, so it has really disrupted the telecoms sector com pletely disrupted the telecoms sector completely and caused a lot of problems for other companies, which say that g0's pricing is not fair at all. fascinating stuff, thank you so much for that. now, all. fascinating stuff, thank you so much forthat. now, in all. fascinating stuff, thank you so much for that. now, in other news, south korea's exports injanuary grew 9.2% from a year earlier, that is according to the country's customs agencies. imports actually jumped about 14.1% over that same period. semiconductors and petrochemicals products drove essentially that overall export volume, and shipments to china rose about 10%, while exports to vietnam grew a whopping 50%. shares of
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toshiba are more than 2% in early trade after reports that the company is considering an ipo for its chip unit if it does not receive regulatory approval to sell it off toa regulatory approval to sell it off to a consortium. the sale is part of a recovery plan for the troubled japanese electronics giant, which narrowly avoided delisting from japan's main stock exchange. now, it is hard to think of anyone better qualified to comment on china's race with the us on artificial intelligence leadership. what in taiwan, he was educated in the us and worked as a scientist for both apple and microsoft, before running google's china operation. and these days, he is a beijing —based venture capitalist, investing in chinese artificial intelligence research. he says he is concerned about increasing protectionism. ama globalist, i like to see everybody worked together, but the growing protectionism, nationalism, probably
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most represented by president trump's administration, i think is causing a world to contract and make the border is stronger, rather than weaker. it is regrettable but i think it is unavoidable. and that is an artificial intelligence expert there. now, a little—known malaysian state is actually home to one of the world's strongest manufacturing technology hubs, penang hopes to follow in the footsteps of silicon valley in california, where engineers from big manufacturers eventually left to strike out on their own. in the first of a new series, which is looking at asia's own silicon valley or tech hubs, yes, we will be visiting a lot of these different cities, we start with penang, to find out why it is one of the nation's top cities for start ups. we took everything as one. when we
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travelled to singapore and even indonesia, many of them did not do electronic hardware. most of them are in software, so with this, it is very challenging for the start ups there, if they want to build the hardware product. there was a golden opportunity for tech start—ups, where many multinational companies were looking for a low—cost alternative to automate their processes. we thought that we should take the
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opportunity and start our own company. we wanted to build a great technology for that in malaysia, by malaysians, for the world. we have a lot of engineers in penang, what we lack is entrepreneurs. these people make great, amazing products, but the market it, that is one of the biggest there you go, malaysia's penang is the first silicon valley. you heard it here first, and of course, that is it for this edition of asia business report. i am sharanjit leyl in singapore. don't forget you can
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follow us on twitter. we have got sports a day coming up next on bbc world news. this is bbc news. ukip‘s national executive committee has backed a vote of no—confidence in the party leader, henry bolton, as he faces further questions his personal life. our political correspondent ben wright reports. i'm not making any comment. shortly before ukip‘s top brass met to discuss their beleaguered leader's fate, henry bolton came out fighting. you could say at that point, the national executive committee of my own party do not have confidence of me, i had better standdown. i could do but i won't. no, i won't. the former soldier has only been in the job 12 no, i won't. the former soldier has only been in thejob 12 months no, i won't. the former soldier has only been in the job 12 months and it is his new relationship that has got him in the spotlight. last week, he dropped his new girlfriend after it emerged that she had made offensive remarks about prince
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harry's fiancee, meghan markle. what is important to the nation and to the voters in the 17.4 million people voted to leave the european union that this country get independent back from brussels and that we can move forward on that basis towards being confident nation... henry bolton became the fourth ukip leader in the year, and promised to bring a fresh focus to the fractious and foundering party. even some of the party's founding leaders think it could now be curtains for ukip. if you wiped out in the general elections, and then we are wiped out in the district elections too, maybe people are going to have to get around the table and say is the electorate trying to tell us of them and is that thank you very much and good night? last month, the ukip national executive committee agreed to have a meeting today about their leader's recent antics. after a lot of
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digging, we found out that the meeting is being held here at the office of the ukip general secretary, who is a barrister. this meeting will determine possibly henry bolton's fate. he insisted he was not going to quit, but it is clear that many on the ukip scene wanting to go. the meeting lasted three hours and passed a unanimous vote of no—confidence in ukipleader. henry was offered the opportunity to resign but he has made clear that he feels is the right man to lead the party forward and he will now go through the process of defending himself to the party. that means the wider ukip membership will have to either indoors or reject state's decision in a meeting within the next 28 days, but for now, henry bolton soldiers on without any support at the top of his party. as always, we have lots more on our website and you can get in touch with me via social media will stop now, it time for sport today. hello, i'm nick marshall—mccormack,
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and this is sport today, live from the bbc sport centre. coming up on the show: patriot games. new england destroy jacksonville dreams with tom inspired fightback. madison has the keys to the australian open quarter—finals, after flattening eighth seed caroline garcia. and terrific tommy does it again in abu dhabi. fleetwood delivers a back—nine masterclass to take the trophy. hi there, wherever you are around the world. welcome to sport today. it had to happen. tom brady threw two touchdown passes in the fourth quarter to lead the new england patriots to a berth in super bowl lii. the defending champions had to rally from behind to beat jacksonville 24—20. earlier i spoke to cindy boren, from the washington post, who watched the pats great comeback. well, you know, ithink
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well, you know, i think i write the same story every year at this time. ready engineers a fourth quarter comeback. the odds were stacked against him, he has a cut on his hand and you think they are finished. and they come back and win. the guy is a vampire, i am convinced of it. i am not so sure it was anything the jaguars really
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