this is business live from bbc news with maryam moshiri and sally bundock. the turkish president erdogan has secured another term in office in the first round of a presidential poll. he assumes sweeping new powers. live from london, that's our top story on monday 25thjune. but investors are worried about how much control the turkish government has over the economy and the level of borrowing by businesses. also in the programme, china beefs up its financial buffers for a possible trade war freeing up billions of dollars in its banking system to cushion the blow of a slowing economy. we will also have the latest from the markets. and many of us have found love with the swipe of a screen, but do dating apps respect our cultural

and religious needs? we find out about an app that helps muslims find a match and is used by half a million people worldwide. today we want to know: have you found love online? tell us your dating disaster or dream. or 0rdo you or do you avoid it like the plague? either way it is big business. get in touch using the hashtag bbcbizlive. hello and welcome to business live. the electoral authorities in turkey say recep tayyip erdogan has won a second term as president. it's not that long since turkey was regarded as one of the world's hottest emerging markets. but reviving the economy is now one of the biggest challenges for mr erdogan as he gets set to begin a second term as president. investors are worried about how much control the government has over

the economy and that's led the turkish lira to lose more than half its value against the us dollar since mr erdogan first became president in august 2014. however last year the economy grew by a healthy 7.4%, with growth in construction, services and increasing household consumption. but a lot of this has been paid for by borrowing and there are concerns that businesses may struggle to repay their debts. in total, the economy has an estimated $200 billion of dollar debt which is getting more expensive to repay. and less money has been coming into the country with foreign investment falling. it's fallen almost 40% from its peak two years ago to just under $iibn last year. anthony skinner is a director at the risk consultancy verisk maplecroft. you were listening to those

statistics. the bare facts are quite tough, but the president is here to stay for some time and he has got some pretty staunch new powers. at least another ten years of his rule. he is likely to intervene even more in monetary policy. in the run up to the vote he was focusing very much on his stride to generate growth and jobs and to generate output. that is a key concern in that he will try and reduce interest rates in order to be able to perpetuate that positive economic growth story. the election cycle is not over. we have local elections in march in 2019 and that provides an incentive for him to make sure that he controls the economy. if he is trying to control the economy to see growth and jobs, to make sure people who voted for him are happy and they will vote for

him are happy and they will vote for him next, is that such a bad thing, economic growth? it is not a bad thing, but the markets have been skittish and there needs to be an adjustment. the economy has been overheating until may or june. adjustment. the economy has been overheating until may orjune. this growth has not been sustainable and there has to be an adjustment.” growth has not been sustainable and there has to be an adjustment. i was going to say the interest rates are rising rapidly to try and stop falling year and that did not help things either. absolutely. from his perspective he wants to bridge this gap and there may be an adjustment following that. the key question is what will the cabinet line—up look like? will the deputy prime minister be there? he is trusted by the markets and is considered to be one of the technocrats that has a sound orientation in terms of the markets. before president recep tayyip erdogan changed the constitution and

prior to the coup that try to take place that he stamped out, there we re place that he stamped out, there were huge arrests ofjournalists, judiciary and individuals. prior to that everybody was looking to turkey asa that everybody was looking to turkey as a fantastic place to invest, a thriving economy that everybody was excited about. what is appealing about turkey now? the opinion is growth cannot be sustained. it has been driven by real estate, and by construction and the economy needs to diversify. it needs to wean itself off its dependence on the import of intermediary goods. these items have been talking points for a long time and the cam has been kicked down the road. investors want to see that the government is serious about diversifying the economy so it is not as volatile and exposed in terms of international appetite. we shall watch this space. thank you for coming in and give it

as your outlook on the turkish economy. let's take a look at some of the other stories making the news. chinese smartphone maker xiaomi has announced it won't be listing in mainland china anytime soon, but confirmed it still plans to list in hong kong early next month. beijing has been encouraging chinese tech giants which are listed overseas to also float their shares back home. toshiba says us authorities have completed their investigation into the firm's accounting practices, and decided not to fine the company. the us securities and exchange commission decided to investigate toshiba in 2016 after the firm was involved in a $1.3bn accounting scandal a year earlier. the taxi hailing company uber goes to court in london today hoping to win an appeal to keep its licence to operate in the city. last year, the transport regulator tfl refused to renew uber‘s licence because of concerns about public safety and security. the compa ny‘s approach to reporting criminal offences and how its drivers were getting medical certificates were cited

for refusing permission to operate in london. china has freed up billions of dollars in its banking system to cushion the blow of a slowing economy and a possible trade war china's central bank cuts the amount of cash reserves banks need to hold — it will free up over 100 billion dollars for commercial banks to lend to boost spending. monica miller is in singapore. how far do you think this move will go to help it? they have got to try something. this volatile economy that we are in in this environment, china is trying to add a cushion for the months ahead. there is a 5.5 month low against the us dollar, effectively erasing all of its gains and it comes after the central bank

made the announcement that they are trying to free up $100 million to get back in there. this is to help volatility with the markets, but also to help bring down borrowing costs. the chinese gdp has been slowing down, so they want to help the small micro—businesses trying to survive in this environment. this is a switch in monetary policy for the chinese central bank in that it is about growth and it is not leveraged any more. this is to cushion the economy for what lies ahead. monica, thank you very much indeed. let's ta ke let's take a look at the markets. it is going to be a very busy week and there are trade tensions and worries about the us and china and a trade war having a negative impact. brent crude prices have fallen and they are factoring in the fact that they

will get an increase after the meeting with opec on friday. it is a similar story in europe in the markets. let's have a look at wall street later. it looks like economic data will drive the week in the united states and that starts on monday when the us commerce department is expected to report that new home sales increased by 1.596 that new home sales increased by 1.5% in may. sticking with housing, tuesday sees the release of the case shiller house price index and the consensus is that prices will have increased 6.8% in april. while investors will be anxious about the latest twists and turns in the trade dispute, they are looking to get further evidence that for now the trump economy remains robust. the latest revision of gdp numbers for the first quarter is out on thursday and it is expected to show steady if unspectacular growth which most economists expect to have picked up significantly and the second

quarter. the great engine of the us economy is the consumer and consumer confidence figures are out on tuesday. forecasts show that for now at least us consumers are feeling upbeat about their prospects. let's see how long that lasts. that was paul blake in the united states. i sound like a right cynic! joining us is maike currie, who's the investment director at fidelity international. we have seen the fear factor creeping in at the start of a new trading week, certainly in asia. they are all down, is that because of the trade spat concerns? if you have got the while's two biggest economy is going head—to—head in something as fundamental as trade, it is not good for investor sentiment and it is not good for the market and that is what we are seeing playing out in the global markets. we have seen the japanese

yen strengthen and it is seen as a safe haven currency. in turmoil times investors flocked to the yen. there are rumours that the treasury department in the united states will heightened scrutiny of chinese investments in sensitive us industries and an emergency law could be in the wings. it is more and more means to an end. in addition to the trade tariffs, donald trump has said he will look into chinese companies and limit how much they can invest in us companies from everything including robotics to aerospace. china has retaliated, accusing the us of bullying tactics. it is not ideal and it is not good for markets. brent crude oil have fallen off, tell us why it is important what opec has discussed and they are raising production? why does it matter to ask? the prices have risen, but it can have a

negative impact on the consumer. it pushes up inflation and petrol prices get higher and that can be a drag on the global economy. so they sat down and agreed to push up production to1 billion barrels sat down and agreed to push up production to 1 billion barrels a day and the oil price has responded and it has fallen. it is still quite high. yes, compared to the levels we saw a year ago. she will be back later to talk us through some stories in the papers. she better be! still to come: a dating app with a difference — we speak to the man whose app helps the muslim community find a perfect match and respects islamic traditions with business live from bbc news. mps will decide whether to build a third runway at heathrow airport later today. it's thought they will probably approve the expansion plans, but the vote is likely to expose splits in both the labour and

conservative parties. joining us now to discuss this is mike spicer, director of research and economics at the british chambers of commerce. where does the bcc stand on this heathrow expansion? it wants mps to vote in favour of it. heathrow is an important economic asset for the uk. it is the third—largest port by value for markets outside the eu, so it will be hugely important in the future for any independent trade policy. what we are saying is, you cannot call yourself a champion of free trade as the government wants us free trade as the government wants us to be seen unless you are willing to invest heavily in international conductivity. with heathrow private investors stand ready to do that. what about the environmental impact? some say the economic benefits have been overplayed. there is an impact

on the immediate surrounding area and that cannot be overstated. first of all, if you look at some of the important measures around emissions, they had reduced by nearly a quarter since the mid—90s as technology has improved and planes have improved. that is the first thing. the second thing is there is a triple lock guarantee on releasing new capacity and that can only be done if the uk stays within its legal limits for air quality. there are guarantees on that, but this is a national asset of national importance. yes, the local impacts need to be mitigated and address. having said that, why not expand elsewhere like at gatwick? we are in favour of expanding international conductivity wherever there is a need to do that, given where the uk is at the moment. the important thing to realise about heathrow is, it is a global hub, so releasing capacity then not only releases capacity out of heathrow,

but it frees up domestic conductivity as well. with heathrow for nearly a decade now we have seen an intuition of domestic conductivity from heathrow to areas like scotland and northern ireland. investing in capacity there will have impacts all over the country. mike spicer, thank you for your time. you're watching business live, our top story: the turkish president erdogan has secured another term in office and assumes sweeping new powers. a quick look at how markets are faring. the trading session in europe has been under way for 45 minutes. germany down almost 1%. london and france also down. this follows a day of losses in asia, a concern of rhetoric of firing from the us to china and back. and now let's get the inside

track on the way dating apps, which have transformed the way we find our match. but it's not always straightforward, especially if you have specific cultural, language and religious requirements. muzmatch is a free dating app dedicated to helping muslims find a partner more easily. it's been active forjust three year, half a million people already use it around the world. but the founder reckons there's potential for more. there are around 1.8 billion muslims globally, and of these, muzmatch estimates 300,000 to 400,000 are single and marriageable. the app aims to respect islamic traditions, but use modern technology, which has moved on with smartphones. joining us now is co—founder sha hzad younas, who set up the app because he said it was common in his community to struggle to find a partner, especially someone who is compatible on a religious, cultural, traditional and family level. welcome to business live. i must

admit, i initially thought there are already apps for those in the muslim community who are trying to find a partner, why do we need another one and why did you think yours is going to be more successful? it comes down to be more successful? it comes down to the quality of a lot of these apps and platforms out there. you have the off—line methods but looking to the current online methods, a lot of them hadn't moved on in the last ten years, they were quite old and awkward and quite expensive to use. for a lot of people they wanted something new. this is the new generation of muslims who are using snapchat, instagram. a lot of these big social media apps, then a high—quality out when they see one. we looked to call it isa when they see one. we looked to call it is a ring offerings and they found that actually it was a real step behind in terms of technology and security involved. the interesting thing about your app, it allows parents interesting thing about your app, it allows pa rents or interesting thing about your app, it allows parents or family members to chaperone people who use it, so they can read messages and be part of the conversation. however, iwonder whether very traditional muslim families wouldn't just prefer their

kids to find a suitable boy or girl or, you know, what have you, husband or, you know, what have you, husband or wife, or, you know, what have you, husband orwife, ina or, you know, what have you, husband orwife, in a more or, you know, what have you, husband or wife, in a more traditional method. how much... how open our muslim communities to finding love online? attitudes are changing. this is something we have seen here and with muslims abroad. the need is so great, for so many people and families, they struggle to find a suitorfor families, they struggle to find a suitor for their son families, they struggle to find a suitorfor their son or families, they struggle to find a suitor for their son or daughter, thatis suitor for their son or daughter, that is where online really condiments that such. i totally agree that some people will say online is quite new, it's not really for me. when they realise how difficult it is to find a partner, they look at every means they can. online ads muzmatch is an app that... how do you make sure it is secure? that is the fear on behalf of the person and the parents of that person. with any online service, security is so important that it service, security is so important thatitis service, security is so important that it is something we have designed and if limited in our designed and if limited in our design from day one. everyone who registers are now at, we force them to ta ke registers are now at, we force them to take a manual security selfie and a member of our team will check that

it matches with photos they provide and all the other information. what about the international aspect? if i wa nted about the international aspect? if i wanted to get someone from a different country, do you have that kind of international global reach? we have members from 190 different countries. thankfully we have had 15,000 people around the world who have found their partner through muzmatch. we have had weddings in a different countries. have you found people who have had partners in other countries? people from indonesia, those parts of asia have been married. right across europe, the uk and germany. our recent couple we had somebody from chicago flight couple we had somebody from chicago flight to someone in leeds and get married. it is crazy hearing and seeing the real stories we have had. did you start out as an app maker? where did you start? investment banking for about ten years. i had the idea and it played on my mind. that is the key, the idea. it eats at you! i wish i could have an idea. i thought if i don't do it, somebody else will. i was passionate about

this kind of space. what is the key to success dividing a long—term partner in the muslim community? what is important? lots of challenges for lots of muslims. like you mentioned, you are looking for someone you mentioned, you are looking for someone who you you mentioned, you are looking for someone who you are you mentioned, you are looking for someone who you are compatible with from a religious perspective, culture and perhaps tradition. compatibility of personality, there are compatibility of personality, there a re lots of compatibility of personality, there are lots of factors at play. same thing as finding love anywhere. what you are describing is any kind of love match. probably you would argue with the muslim community more family involvement to take care of. with muzmatch, we have allowed people to express themselves on all those kind of veins and match—up follows —— along those kinds of veins. you find someone compatible on those different aspects. veins. you find someone compatible on those different aspectslj veins. you find someone compatible on those different aspects. i found my husband online, but not a muslim. he's british, i mean english, christian! thank you very much for coming in. it's always complicated. smruti sriram runs the world's largest ethical, reusable bag maker.

a pioneer of the anti—plastic movement, her firm supplies canvas bags to topshop, nike and tesco. we met her. she was lovely. hannah gelbart asks her what her ceo secrets are. my life motto and something we imbibe in the company is don't be boring. don't look horizontally and sideways, always think ahead. always think about what your customer may need, what can you develop, what is your key competitive advantage and what can you exploit and make it as innovative as possible? because those who innovate, survive. it's actually a very interesting dynamic, between my father and i. at the office, i am just

like any other employee. we have a very professional relationship. i don't address him as my father. for many years, i wouldn't sign off my e—mail signatures with my surname, so that we wouldn't have any sense of nepotism. if i state my opinion, there are no hard feelings. there are no emotions involved. business facts are business facts. it's always great to get those pearls of wisdom from the bosses that are on this programme. maike currie isjoining us again to discuss. we are discussing all sorts of stories. we want your germs and your pals! take them off! gosh! let's talk about this story in cityam, a free paper on the underground. some estimating a boost to the saudi arabian economy, women can now drive. the ban on women driving in saudi arabia was enforced yesterday, it was announced a while ago. women can now be behind the wheel. the

last country on earth to prohibit women from driving. the forecasts are that this will add about $90 billion to economic output in saudi arabia de laet. two things happening, it is a socially decision that has also been moved by prince mohammed piltdown man to wean the economy off its reliance on oil. 80% of the government bosman revenue still comes from oil. it is very interesting. what matters here is the fact that women will be given the fact that women will be given the ability to drive themselves around. the economic benefits outweigh everything else. being more mobile means you are more empowered. you can be more actively involved in the workforce, you can increase your income. there are still societal issues. they still need permission from a male relative if they want to travel anywhere. let's talk about

heathrow airport. politicians will vote on this later today in the uk parliament. extremely controversial. there are mixed views within the ruling conservative party and labour. not necessarily a given which way it will go. many in the business lobby are arguing this is important to the uk economy. it is taking forever for us make a decision. no new runways have been built in south—east england since the second world war. if britain is going to compete in terms ofjob creation, business competitiveness, tourism, to really needs that infrastructure. there are always pros and cons. the columns are things like noise, the environment but the government needs to stop dithering. part of the problem is the location of heathrow. look at other countries who are seeing huge expansion of their airports, dubai, shanghai, part of china, part of america. the airport is far away

from residential areas. if they add a few more runways, it's not a whole new load of planes going over the top of people's homes. in heathrow, it's surrounded by residential areas, isn't it? that it is not far from london. these are the things they have been weighing up for yea rs, they have been weighing up for years, now. the question is, will they deliver on time and on budget? and the other challenges that will come from local councils, environmentalists. from an economic point of view, britain really needs this. thank you. that's it from business live today. she has had a business morning. we didn't have time to read all of your tweets, we had so many bad dating disasters, keep them coming in, we read them. there will be more business news throughout the day on the bbc live webpage and on world business report. we'll see you again tomorrow. the forecast this week is relatively

straightforward, lots of hot dry sunny weather to come. a beautiful start to the day in grimsby. look at the sun rising on the horizon. for many of us, there will be sunshine from dawn till dusk today. it is going to feel hot. one exception, the far north of scotland, this cold front moving its way in will introduce more cloud. high—pressure affirming family in charge across the uk, that is how it will remain. around this area of high pressure, the wind is blowing right around the uk. that means the heat is just going to build and build and build. as we go through the week. today, sunshine from dawn till dusk for most of us. the exception, as i said, the far north of scotland, there will be more cloud and hazy sunshine. a bit cooler in shetland

ts, sunshine. a bit cooler in shetland ‘s, temperatures around 13. elsewhere, the temperatures in mid to high 20s. 30 celsius across the south—east of england. the uv levels will be high and very high, as is pollen. overnight, clear skies will be high and very high, as is pollen. overnight, clearskies and it will turn chilly, particularly in the countryside but not desperately low. 10—15. not the warm and muggy air that we've had in recent weeks. tuesday, a sane note, cloud around the north sea will drift inland through the morning, sunny note. it will burn back in that strong chunsong shang. more sunshine than today, the far north of scotland. temperatures well into the 20s, 28 celsius in the south—east of england. a bit cooler along the eastern coasts. as it will be on wednesday, cooler on the coast. if you don't like hot weather, that is

the place to go. deep oranges and reds, temperatures widely in the mid to high 20s. even across scotland, 27 degrees in edinburgh, warm across the far north of scotland as we get more sunshine. it stays dry and mostly sunny. temperatures just coming off a little bit towards the next week, temperatures down to 21, 20 5 degrees but lots of dry and sunny weather. goodbye. hello, it's monday, it's nine o'clock, i'm victoria derbyshire, welcome to the programme. and the sun is still shining. could this man and many more like him have been targeted by undercover cops as part of a blacklist of construction workers? people who were put on the secret list want answers from the police. everyone involved in this conspiracy knew what the consequences of deliberately enforced unemployment... with the intentions of making that on a permanent basis. more than 3200 workers

were on the list. this programme has discovered that the metropolitan police know how many of those were targeted by special branch, but isn't telling the victims. we will find out today if heathrow is going to get a third runway but is the government facing a last minute struggle to get mps to vote in favour of the plan? i know there are other mps who disagree with that