tv Asia Business Report BBC News May 15, 2018 1:30am-1:45am BST
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our top story. is to the minister benjamin netanyahu is to the minister benjamin neta nyahu has said is to the minister benjamin netanyahu has said he is armed forces were acting in self—defence. the violence came as the us open the controversial embassy injerusalem. a palestinian official described it asa a palestinian official described it as a hostile act against international law. and this video is trending on bbc.com. a chinese climber who was crippled by frostbite on everest more than a0 years ago has scaled the peak at the start of this year's ski season. she's the first double amputee to scale the peak, and the first ever from the nepalese side. stay with us, more to and the top story here in the uk. the european union's chief
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negotiator michel barnier says a little progress has been made in talks about the uk's withdrawal since march. now on bbc news, all the latest business news live from singapore. it is round two of trade negotiations between beijing and washington. could they strike a softer tone as president trump vowed to help chinese telecoms giant zte? and they are in high demand that international restaurants, but it is a dangerous task hunting down these rare mushrooms. find out why. good morning, asia. hello, world. it isa good morning, asia. hello, world. it is a tuesday, glad you could join us for another exciting addition of asia business report. i am rico
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hizon. we start off with us china trade, and it is against the washington for the second round of trade talks that history could be different. president trump made a dramatic u—turn just pretty flowers ago when he offered to help troubled telecom indications giant zte get back into business, after previously banning us companies from selling to the company. for more on this story, iamjoined by the company. for more on this story, i am joined by my colleague and business reporter, katie silber. so what are we likely to see from these negotiations? so they met a little while ago in beijing, we did not see much progress but there are hopes that here in washington they will be more developments, more progress. is widely considered to be studied in the us and is a well—developed macro economist. the hope is that they can —— there is a
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bilateral trade deficit. there is currently at $275 billion trade deficit. the us wants to see this drop by about $200 billion a year. there is hope that this given what has happened with zte last week flowers. zte is china's largest telecommunications company and they had an export ban on them from the united states that was crippling them economically. donald trump said that he wants to see their fortunes improve, and that was seen as a sign of goodwill between the two countries. one thing that the us also wants to really see changed is the agricultural policy china. china has this list of products primarily in the agricultural space that they are going to target in retaliation. the us wants to see this change in on the news of this meeting, we have seen prices change in the commodities, in terms of soya beans.
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and if you have the top chinese financial official in washington, definitely beijing would want to have a compromise, so this puts a lot of pressure on trump to meet them halfway. yes, and is facing pressure from his own party in number of ways. interestingly, we have just seen the last ten minutes, this has broken, that the us ambassador to china said china agreed to do a of things. he says that basically there are very parts still in trade and china has agreed to do still in trade and china has agreed todoa still in trade and china has agreed to do a lot of things and a lot of promises. they will set a timetable and you want to see these things sooner or and you want to see these things sooner or later, so thou a lot doubt still from the republican party themselves. thank you so much for an update on us china trade, my colleague and business reporter katie silber. this story, we rarely get to discuss it. the north korean economy. the highly anticipated meeting between the kim jong—un and
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donald trump has driven speculation that things are looking up for pyongyang. us secretary of state mike pompeo spoke about the possibility of us investment into north korea, is it fully dismantles its nuclear programme. on monday, south korea's financial regulator suggested that china and south korea should work together to open a policy banking pyongyang in the event of denuclearisation. but in asia analyst says the north koreans have not given any indication that they will fully give up the records. what they have done so far is they have dismantled test sites, which we believed to have been already defunct anyway. but if you set aside the denuclearisation issue and they agree to do such an issue, what do they have to do, pyongyang, to be able to attract these foreign investors 7 able to attract these foreign investors? i think set up a sick
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institutions, that is the most important thing. the difficulty with investing in north korea would be the fact that there is actually very little information on the north korean economy. —— set up institutions. the north koreans, they cannot calibrate their economy, they cannot calibrate their economy, they do not have enough information about the fiscal accounts, they had no information on the general syed. do they have to be more transparent to the financial community for international economic powers to invest in the country? exactly, and they don't have any institutional formatting as such. they do not work asa formatting as such. they do not work as a system of a capitalist system that we have in place. that what we see from the outside world, which particular industries or six as does north korea need the most investment unit? i mean, the obvious is sectors
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such as healthcare, education, retail, but if in the outside possibility where there is investment in the country, the first couple of industries that will get more money would be the manufacturing sector. in other business news making headlines, tesla's founder says his company will go through a thorough reorganisation over concerns about the compa ny‘s production reorganisation over concerns about the company's production output and the company's production output and the natural losses. elon musk said the natural losses. elon musk said the carmaker was flattening its management structure and combining functions where it is sensible. this announcement comes after tesla posted a record loss of more than $700 million in its second quarter and share prices falling almost 2.596. and share prices falling almost 2.5%. hsbc and ing have made history together. the banking giants say they carried out their first block
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chain transaction, aimed at speeding up chain transaction, aimed at speeding up payment processes and making them more secure. the transaction use the cutting edge technology that drives currencies like the bit coin, it involved a block shipment of soya beans from argentina, on behalf of the us agriculture group. the himalayan region of kashmir in the north has been a flashpoint between india and pakistan for more than six decades. the highly militarised environment makes it difficult for residents there to earn a living, but a rare and exotic type of mushroom is giving villagers an opportunity to boost their fortunes. dalla porta travelled to kashmir to find out more about these mushrooms. —— albert porter. this mountain is just a few kilometres from india's trouble border with pakistan. muhammad azam a village nearby. after walking for a few hours, he finally spots what he has come looking for. a morel. a kilo of the
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wild mushrooms could fetch up to $800, which means fetching even a few d oze n $800, which means fetching even a few dozen of these could help muhamed's family get by. climbing up slippery slopes is very dangerous, then there are wild animals attacking us, but there are nojobs here so we still take the risk because the money makes a huge difference to our lives. in this remote area, where shootings and cu rfews a re remote area, where shootings and cu rfews are part of life, remote area, where shootings and curfews are part of life, it is hard to earn a living. that makes the morels even more precious and they only grow for two months of the year. only grow for two months of the yea r. after only grow for two months of the year. after climbing down the steep path, we have managed to find two more morel mushrooms that were hidden in the grass, so that has been an entire morning of clambering up been an entire morning of clambering up and down a mountain and we have managed to find the mushrooms. this is produce it has been used in
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cooking here for decades, but it is only really in the last fight to six yea rs only really in the last fight to six years that it is demanding the international market has shot up and thatis international market has shot up and that is why the price that it matches has really gone up. from the mountains of kashmir, this is where it ends up. the earthy flavour of the mushroom has caught the attention of chefs around the world. at this fine dining restaurant, dried morels are highlighted. top restau ra nts dried morels are highlighted. top restaurants around the world have morels on their menus, using all these rare, lost ingredients and putting them as a highlight on your plate and giving that attention and giving those ingredients focus, that become what restaurants worldwide are doing. more than 9096 of the morels foraged in india are exported. they are found in other parts of the world too, but in few other places perhaps do they mean as much as here in kashmir, where people struggle to get by in the midst of a conflict. and before we
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90, midst of a conflict. and before we go, here's a look now at the markets. as you can see, they are mixed at this hour. the nikkei up by a fraction, three and a half points. the all ordinaries is down by more than eight points. that —— us stocks we re than eight points. that —— us stocks were up overnight after donald trump's announcement that he wanted to improve the prospects of chinese telecom indications maker zte. those are the markets. thank you so much for investing your time with us, and rico hizon. sports today coming up next. the head of mi5 has accused russia of "criminal thuggery" and "bare—faced lying". andrew parker condemned moscow for the salisbury nerve agent attack, as well as for backing the use of chemical weapons in syria and annexing crimea.
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in his speech in berlin, mr parker also revealed that since last year, the security services are thwarting, on average, one terror attack a month in the uk. corera. —— here's our security correspondent gordon corera. more than two months after the poisonings in salisbury, signs today that the investigation is still under way. but across europe, in berlin, the head of mi5 today told a meeting of security officials that the evidence pointing the finger at russia was stronger than ever. and andrew parker was outspoken about the threat european democracies face from moscow. the russian state's now well—practised doctrine of blending media manipulation, social media disinformation and distortion, along with new and old forms of espionage, high levels of cyber attacks, military force and criminal thuggery, is what is meant these days by the term ‘hybrid threats‘.
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he also warned that european countries faced an "intense and unrelenting" international terrorist threat. this unprecedented tempo of attack planning shows no sign of abating. in the uk alone, since the westminster attack in march last year, with the police, we've thwarted a further 12 islamist terror plots — i2 occasions where we have good reason to believe a terrorist attack would otherwise have taken place in our country. this was the first time a serving head of mi5 has spoken publicly outside of the uk, and andrew parker came here to berlin, in the heart of europe, to deliver a message. the message was that international cooperation has never been more vital in confronting the threats that european countries face. after his speech, i asked the mi5 chief if brexit risked undermining this cooperation. it's the threat that tells us we need to be able to keep working
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together at a time when we're dealing, for example, with the prospect of foreign fighters from syria moving around across europe, when we've got sharper and higher volume activity by states like russia in the cyber realm. these are times when we need to be able to work together and not have that, in any way, affected. andrew parker left berlin with a message that politics should not get in the way of security. and when it comes to cooperation with europe, he'll be hoping that after brexit, britain is not shut out. time now for all the sports news in sport today. hello, i'm steven wyeth from the bbc sport centre, this is sport today. coming up: going bananas. manchester city fans turn out in their thousands to
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celebrate a record—breaking premier league season. taking on the parisian pressure. thomas tuchal is the man charged with turning psg into a dominant force in europe and back on track. novak djokovic drops just four games en route to the second round of the italian open. welcome to the programme. 2a hours on from the conclusion of a triumphant season, a chance for manchester city to celebrate. tens of thousands of supporters lined the city's streets to greet the premier league champions. pep guardiola's title—winning squad enjoyed an open top bus parade, to acknowledge a record breaking season. among those in attendance, our sports correspondent, andy swiss.
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