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tv   Asia Business Report  BBC News  March 19, 2018 1:30am-1:45am GMT

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a top story, vladimir putin declares victory in russia's presidential election, winning another six years in office. most of the ballots have been countered with around three quarters backing mr putin. the victory rally in moscow he dismissed the suggestion that this country is behind the poisoning of a former spy on his daughter. but‘s falken —— britain's foreign secretary accused russia of making and stockpiling the nerve agent. and it's a medical breakthrough, say scientists, after trials and the top story here in the uk. the cold snap that has brought snow and ice to many parts of the country will continue to cause disruption tomorrow. commuters are being warned to expect difficult conditions,
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especially in the south—west of england. now on bbc news, all the latest business news live from singapore. finance ministers from the world's 20 largest economies meet in buenos aires with us turrets and a potential us war high among their concerns. and for trade ties against a backdrop of growing protectionism, while india achieve much from hosting a meeting of select trade ministers? quite you could join us for asia—pacific —— glad you could join us. we begin with a meeting of the g20 join us. we begin with a meeting of the 620 due to kick off in buenos aires in argentina. concerns over a potential us— china trade rift and
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president trump's steel and annually on tariffs look still to dominate, one finance minister will be absent from the meeting, japan's ambassador not attending due to political issues at home. himself in the prime minister are under pressure after it was revealed that official documents we re was revealed that official documents were altered by the finance bureau relating to a sale of state plans to school operator which has ties to the prime minister's why. both men say they were not aware about it until this month. but apologised. what did this mean for the prime minister and the economy? what did this mean for the prime minister and the economy7m what did this mean for the prime minister and the economy? it is not likely that the scandal is making the prime minister resign so far but the prime minister resign so far but the election is coming in september so the election is coming in september so if the supporting ratio the prime minister is declining, it may be a
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problem. slim chance that the prime minister may be resigning and another candidate may be the leader. if it happens, we will have the more worries for japanese politics if it happens, we will have the more worries forjapanese politics and oui’ worries forjapanese politics and our policies may be slowing down. it isn't likely again but we should think about it. i think overall, monetary easing will continue. consumer prices are improving in japan, you have capital expenditure, we have not seen the japanese economy expand for each consecutive quarters for many years. are we likely to see a nice consecutive quarter of expansion in the january — march quarter? quarter of expansion in the january - march quarter? right? we expect growing japan for some or quarters
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and by the end of 2018 growth is firm and 2019 booval have a consumption tax hike from 8% to 10% which is a risk scenario to stop consumers activity. and we have some important trade figures coming out of japan as well, exports rising 1.8% in february compared to year ago levels, that figure is much lower from the previous month ago levels, that figure is much lowerfrom the previous month in january, outbound ship in gaining top .2%. the slowdown is due to fight reactivities stalling across asia during the lunar new year holiday. imports gaining 16.5% in the year to february. making headlines facebook has announced a comprehensive internal and external review to determine whether the personal data 50 million users has
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been compromised after reports that misuse by political consultancy group cambridge analytic. the firm's chief executive alexander nix has been called back before a committee in the uk, facebook will be asked to testify. both companies have denied wrongdoing. as protectionism rears its head in america many trade partners have been racing a trade war, india said it will engage in washington over recent decisions related to it exports in this week it plays host to several members of the world trade organization. a business reporterjoins us. how influential is india do you think in terms of free trade in the global landscape? india is important as we rise, if you look at the last few yea rs, rise, if you look at the last few years, looking at some of the meetings taking place at the wto including discussions of controversial issues like food stockpiling and providing subsidies for illegalfishing, india has been
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an important voice along with china so with that in mind this meeting is important, it is the first meeting after the 11th ministerial meeting that took place in argentina in december which failed to reach any sort of consensus on critical issues. 6iven sort of consensus on critical issues. given the rising protectionism, especially two weeks back or a few days back, donald trump's announcement raising import ta riffs trump's announcement raising import tariffs on steel and aluminium, the issue was going to dominate the discussions, there are a0 countries dissipating including some trade ministers in that sense it an important meeting. india export steel and aluminium and how will this impact the economy if it rises to 10% and 25%? this impact the economy if it rises to 10% and 2596? luckily the this impact the economy if it rises to 1096 and 2596? luckily the india it isn't a big exporter to the usa that it is going to impact its mid—size and some of the large companies and demand has fallen over the last few yea rs, demand has fallen over the last few years, steel demand, and it has been
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relying on exports to europe and the usa to really increase profitability of the company ‘s win that sense it is important for india. thank you so much. hong kong's richest 2 been vague g been vague about % been vague about plans to he has been vague about plans to retire in the past but as it turns 90, it is apparently the right time. his net worth is around $3a billion. it is for companies of all listed on the hong kong stock exchange and reported earnings numbers on friday. if this is as cover ports, retail, energy, he will stay on in an advisory role but now control has been passed on to his son, victor. victor is 53 and has been deputy chairman since 200015. moving to the future of work, one is driving global demand the robots in the workplace, it is by far the biggest marketplace for industrial robots
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but while its big push to develop a high, the world's was popular country could also be the place where machines you cannot see it and buy software takeover swathes of jobs currently being done by people? our china correspondent has the details. i think the impact the people is psychologically, they were felt threatened. but they will feel. robots and artificial intelligence are not new but their combined power and potential is revolutionising the workplace. there are types of routine jobs that will be totally replaced so assembly lines, inspection, customer service, representative, telemarketing, it will be a total replacement.” representative, telemarketing, it will be a total replacement. i have to admiti
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will be a total replacement. i have to admit i am not feeling that co mforta ble to admit i am not feeling that comfortable but this is how a visit to the dentist could look in the future. no human hands delving in, no hot breath on your cheek. instead, this, a robot, doing all the hard work including of course... this robot dentist has been for yea rs this robot dentist has been for years in the making at a military hospital in china, it is operated on a humanfor hospital in china, it is operated on a human for the first time last september. movement has been a challenge though, as it is with most robots. moving patients, flinching in pain, are problem. ai is an enabler, not an arms race,
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soi ai is an enabler, not an arms race, so i think we should think about it as doing great things to every country and how can we worked together to benefit from it and to solve the challenges that it brings about? the future of work. china is expected to announce that us education economies will become the country's new central bank governor. he has served as deputy governor of the people's bank of china since 2008 and is set to replace the current leader, who has held the role the 15 years. this is a look at what else we can expect on the business calendar. the us central bank kicks off its two—day meeting. high expectations jerome bank kicks off its two—day meeting. high expectationsjerome powell hike the cost of borrowing at its first meeting as the federal reserve chief. on thursday, full—year
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numbers from china mobile, the world ‘s largest telecommunications company. and also, nikkei will be posting its third—quarter numbers —— nike. currently it is a down day for the asian stock market. the nikkei to 25, -- the asian stock market. the nikkei to 25, —— to the asian stock market. the nikkei to 25, -- to 25 the asian stock market. the nikkei to 25, —— to 25 is down. thank you so much, have a wonderful monday, but from now. —— goodbye for now. let's bring you up—to—date on some of our main story is this ally, vladimir putin wins a landslide some of our main story is this ally, vladirr; i"; the twinsa landslide! victory in the russian presidential election, securing another six years in office. he also dismissed suggestions from britain that russia was behind the poisoning of former spy, sergei skripal and his daughter. much of the uk has been in the midst of a second significant snowfall
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of the winter. for many areas, it's been combined with bitterly cold winds, bringing misery to those who've been travelling this weekend. sarah ransome reports. snowstorms and snowdrift.
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