tv Asia Business Report BBC News February 16, 2018 1:30am-1:45am GMT
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teenager suspected of a gun attack on his former high school. 19—year—old nikolas cruz has appeared at court in florida, charged with 17 counts of premeditated murder. it was the 18th school attack in the us this year. cyril ramaphosa has been sworn in as south africa's new president. he replaces jacob zuma, who stepped down on wednesday after caving to pressure from his own party, the anc. and this story is trending on bbc.com. do you worry about your bags being stolen when passing through security check? well, one chinese woman joined her handbag through an x—ray machine to preventjust that. apparently she emerged safely on the other side. it is still unclear what the cherished handbag contained. that's all from me now. stay with bbc news. and the top story here in the uk: victims of the former youth football coach, barry bennell, have been speaking out after a jury found him guilty of seven further offences of sexually assaulting boys.
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now on bbc news, all the latest business news live from singapore. it's all smiles from north korea and the winter olympics but will that be enough to lift sanctions on the country. and we had to hyderabad to find out why this city's drawing so much talent. gong xi fa cai, have been lunar new year to all our viewers, welcome to asia business report. —— happy. the world has heard from north korea more from the last few days than in decades, their figure skating team, cheerleaders
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and north korean leader kim jong—un‘s sister have all won the hearts in the winter olympic games in pyeongchang but good this soft diplomacy translate into loosening sanctions against the state? earlier i asked justin hastings, an expert on the north korean economy, how the international community had reacted to the latest moves from the country. un sanctions and us sanctions aren't going anywhere so what the north koreans can hope to gain is ultimately weaken south korea's will to enforce sanctions and maybe get more aid or money out of south korea. at some point north korea will have to make some concessions even for aid to be politically palpable in south korea itself. chinese sanctions play a huge role in this as well and president xi was absent from pyeongchang so far, how is that going to affect the north korean economy? china has been more vigorously enforcing sanctions over the past year, which has hurt the north korean economy somewhat. the
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temperature on the korean peninsula decreases, with the olympics you can see china more willing to allow more investment into north korea than it has. it pulled back, now it may be more willing. it's always tricky to predict but according to some figures the north korean economy was estimated to have grown by 3.9% in 2016, what do you think was the growth in 2017 and going forward? any time you have a number in north korea it will be problematic to speculate but i would say it would be lower. chinese sanctions have had greater impact and to the extent north korea is engaging in trade, it's having a slightly more difficult time. seoul is perfect, paying for the north korean delegation is in pyeongchang, do you think the games will help the north korean economy by attracting more tourists? that is up to the guarantees north korea makes to china and south korea. not directly.
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ultimately you could see more willingness to give aid or have investment from china and south korea. indirectly we might see an affect. iran's president is making his first visit to india since he took office in 2013. trade between the two countries is worth almost $13 billion, but president hassan rouhani is hoping to drum up even more new business with india after crippling economic sanctions against his company were eased following its 2015 nuclear pact. for more business reporter divina gupta joins us live from delhi. we know what iran wants but what does india want out of these talks? carrico, there will be to clear points when india is negotiating bilateral trade deals with the iranian president —— mariko. one is energy and the other is connectivity. india needs to import huge amounts of its crude oil
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consumption, iran is a key player in the region and out of the trade india does with iran, it is about $10 billion of import- oil $10 billion of import of crude m- with iran, be furthering be as 'thering built chabal port in eastern newly built chabal port in eastern iran, will be a point where india is looking at investment, also a place where india is looking to access afghanistan to have trade relations with afghanistan bypassing its partner here. how will india balance its economic interests in the region cause it has a lot of diplomatic
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tensions? that's very interesting because as we know, iran is dominated with one sect of muslims, shias, and the indian prime minister was in the gulf region last week, in the uae, he sent a signal to saudi arabia that india wants to do trade with the entire region and why should iran be an exception? thank you for the update. staying with india and for years bangalore has enjoys a reputation as the darling of india's tech industry but that perception is changing because of problems like congestion. the new rising star is hyderabad. in a tale of two indian tech city is, we find out how hyderabad stacks up as one of asia's silicon valley is. —— indian tech city is. —— silicon valleys. —— indian tech cities.
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support. the ease of doing business is a fact. bureaucracy has been reduced and there is a lot of support for very early stage start—ups. we've grown it with a plan in place, we've grown it in a way that makes any everything integrated so we are building milestones and we are hitting a job those milestones. the fa ct we hitting a job those milestones. the fact we have government support, it's being done in a good man and people here are willing to help each other out and that's the differentiating thing between us and bangalore. in other business news making
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headlines, shares in airbus are jumping by more than 10% after it reported strong earnings for 2017, which beat analyst expectations. the firm was hit by a charge of $1.6 billion because of the delay in its a400 billion because of the delay in its aaoo military plane programme but investors responded positively towards its shift to commercial models. it says it expects to deliver 800 commercial aircraft in 2018 if engine manufacturers stick to their commitments. mcdonald's is removing cheeseburgers from happy meals as customers look for healthier options. they say by 2022 they will offer a more balanced meals on their children's menu across 120 markets. that means meals that are 600 calories or less, but they still include the choice of a hamburger or a box of chicken
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mcnuggets. the classic cheeseburger will only be available at a customer's request. us regulators have rejected the sale of the chicago stock exchange to a group led by chinese based investors over concerns with its ownership structure. for more on the story we are joined structure. for more on the story we arejoined by our structure. for more on the story we are joined by our business structure. for more on the story we arejoined by our business reporter monica miller. it was initially approved and then put on hold, did this come as a surprise?|j approved and then put on hold, did this come as a surprise? i think it did to some people. essentially in the 76 page document they said it simply didn't comply with us rules and regulations. exchanges but the real concern was whether the sec would have enough say and control if the deal had gone through. this went on for two years, it had been approved but then it was put on hold last august for further review. it was led by chongqing casing exercise group, real estate, finance, infrastructure, a big conglomerate that had lot of blowback from washington because they were
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concerned about security and they didn't want the chinese government involved. now, this is a chinese company and the bourse is only small, only half a percent of what us trades come through, but the deal was going to be a global market for equities, particularly in the chinese market. i guess it joins the long list of chinese companies facing these challenges in america. thank you for that, monica. a quick look at markets, lots of asian markets are closed today. japan and australia are trading high. that's it for this edition of asia business report. thank you for joining us. the top stories this hour: more details emerge about the suspected teenage gunman who attacked his former high school in the us. cyril ramaphosa has replaced jacob zuma as president of south africa, taking over a country with a struggling economy and a divided ruling party. a group of mps say british steel
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pension scheme members have been targeted by vulture financial advisors. sian lloyd has the story. the words of a report today by mps about steelworkers who devoted years to the industry but face changes to their pension scheme. some had the option of transferring their benefits to private schemes, but what happened has been described as a mis—selling scandal. yes, we've been let down with the trustees, we've been let down by tata as a company. we uncovered the case of richard bevan who had transferred his savings into a private scheme. he believes the financial advice he was given was unsuitable and resulted in him losing out on £200,000. he welcomes the scrutiny by mps but says it's too late for him. where that leaves people like myself
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i really don't know. it may highlight the fact for other pension schemes in the future, and this may not happen on this scale again. hopefully it doesn't, but that's little comfort to people like myself, you know? the report noted that the regulator, the financial conduct authority, only acted two months after we highlighted richard's case. it calls for the authorities to be more proactive. there are large numbers of people who will do other people down when it comes to money, and therefore what we want is robust regulators who don't wait to be pushed into it but actually are on the lookout, on the front foot, thinking, "these are our responsibilities". the financial conduct authority told us that following what happened to steelworkers at plants like this one in port talbot, it's reviewing its rules on pension transfers. but some experts say that what happened here should be
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a wake—up call to the industry. this is not uncommon. we have seen bhs and carillion are similar examples of this, so the individual details will vary but these situations will arise again so it is important the lessons are learned from this case. pension freedom reforms have led to a boom in similar transfers over recent years. this report highlights that workers like richard need more protection. sian lloyd, bbc news, port talbot. you can reach me and most of the tea m you can reach me and most of the team on twitter. there's plenty more on the stories we have covered and others as well plus analysis on our website. you can of course download the bbc news app. time now for all the sports news in sport today. this is sport today, live from the bbc sport centre. coming up on this programme:
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mikaela shiffrin sets her sights on more medals after claiming her first gold at the winter olympics. aksel lund svindal becomes the oldest olympic alpine skiing champion at the age of 35. and defending champion karolina pliskova is knocked out of the qatar open. thanks forjoining us. after days of delays due to the weather, mikaela shiffrin started her eagerly awaited winter olympics run with gold in the women's giant slalom. the victory adds to her title from sochi four years ago and sets shiffrin up for a possible history—making medal haul with events to come. austin halewood rounds up the best of the action from day six. america's golden girl. kayla
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