tv Asia Business Report BBC News August 16, 2018 1:30am-1:46am BST
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after the motorway bridge collapse. five million euros will be freed from central funds following the disaster, which left 39 people dead. rescuers say around 15 vehicles are still under the rubble, but there's little hope of finding more survivors. in afghanistan, there's been a suicide attack at an educational centre just west of the capital kabul. at least 48 people have been killed, scores of students were injured. and this story is popular on bbc.com. scientists beleive they've discovered why some vegetables, including cabbage, broccoli and kale, can reduce the risk of bowel cancers. they say anti—cancer chemicals are produced as the vegetables are digested. that's all. stay with bbc world news. and the top story in the uk — police have been given more time to question salih khater. he was held on a terrorism charge, and suspicion of attempted murder, after crashing a car outside parliament. now on bbc news, live to
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singapore for asia business report. emerging markets are racing themselves for some shaky moves after they took a tumble, amid tu rkey‘s after they took a tumble, amid turkey's financial crisis. china's taste for fine wine is earning a bumper crop of earnings from australian makers. it is thursday everyone. good morning asia, hello world. ladyjonas for another exciting addition of asia business report. we start off with tensions between the united states and turkey, which has been dominating the news headlines or weak. in retaliation for american sanctions, turkey now has hiked tariffs on
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imports of several us products. the lira, which lost a corporate of its value on monday, it continues to crawl back its ground on financial markets of. meanwhile, a court rejected an appeal for a release of an american pastor, whose detention for almost two years sparked the prices, leaving no immediate solution to this ongoing turkey us dispute insight. markwell and is in istanbul turkey announced it was hiking ta riffs turkey announced it was hiking tariffs drastically on american goods. some of them going up by double in response to the us racing sanctions —— racing sanctions and hiking prices on turkish goods because of their continued detention of that american pastor. there is no sign of this rift easing, every sign that it sign of this rift easing, every sign thatitis sign of this rift easing, every sign that it is deepening. you have two nato allies at its streets and that
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could have significant region implications. is caught in western turkey today rejected an appeal to release him from house arrest, it will now pass to an upper court, but at the moment there is very little optimism that he will be released. it is very worrying for businesses who have borrowed or brought in port and goods in foreign currency and attractive sell them to turkish lira because it has plunged over a0%. it is worrying for turkish people trying to travel abroad for their summer trying to travel abroad for their summer holidays, where there occurred to you is buying far less. there is a real concern. there is the core braced of president hu rally behind their leader, so when he hits out to the us calling this an economic war and how turkey will not surrender to the enemy, he has a framed it in terms that are simply for his nationalist support base. he has stoked conspiracy theories, talking about external plots against
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turkey and that plays to his base and they are rallying behind him. tu rkey‘s and they are rallying behind him. turkey's crisis was already concerning investors and now they also have to worry about chinese market. wall street fell to its lowest in over a year overnight. this is how asian markets have reopened for trade. central banks in developing markets are taking action to be insulated cells from further volatility. more on this story i am joined by katie silver in the newsroom. what kinds of initiatives are several banks and governments undertaking? as you say, they are really trying to mitigate themselves from this turkish crisis and trying to offset some of the effects on their currencies. indonesia, we saw them yesterday raised the benchmark to fight went by%. this is the fourth time they have done that since mid—may and
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thatis have done that since mid—may and that is because their currency has been under pressure. the indian rupee has been feeling the heat, a record low. —— territory. the reserve bank of india has raised its interest rates twice this year and is unlikely to do it again until october but the countries finance minister has tried to ensure global investors. he says india has enough money to defend the rupee if needed. and in hong kong, the monetary union has stepped in. officials say they have spent 27 $5 million of their foreign currency reserves after the hong kong dollar slipped to about $7.85 against the us dollar. on individual moves they are quite small but these current governments are hoping it will be enough to weather the storm before the turkish crisis passes. thank you for the update on the newsroom, business reporter katie silver. chinese technology giant ten cent has
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reported a surprise fall due to slower growth in mobile gaming. it isa slower growth in mobile gaming. it is a challenging time for the firm after they shut down the sale of their game monster hunter world. it has fallen io%, wait —— wiping out over $45 billion in market capitalisation. i asked what has been the impact of beijing's decision to freeze approving licences for online games. it will impact on the whole industry because the smaller developers cannot launch their games commercially and also, there are a lot of games for media —— major publications like ten cent and all of the new games cannot be launched. in your view, are they likely to freeze these tighter regulations going forward, all will they continue to be strict with these new
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measures? because our online gaming industry is a major part for china and in terms of the whole entertainment industry, so we do believe it will restart. but now it is like we expect it will restart maybe at the end of 2018, or as early as october, so all the games will restart process. as greece emerges from its bailout then, did you know that china's state—owned shipping company costco played a major role? at the move was controversial. perea ‘s has been acting as main gateway to the sea since 500 bc, but more recently in 2016 it was privatised under pressure from those involved in a greek bailout. a 35 year lease was sold to cosco. this man works for
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the race port authority, he says the investment by cosco is already paying dividends in terms of both growth and jobs. translation: paying dividends in terms of both growth and jobs. translatiosz paying dividends in terms of both growth and jobs. translation: it is not an accident that before the management changed and privatisation of the cargo area at piraeus, the largest quantity of containers that have ever been processed was 1.6 million. now we are exceeding four million. now we are exceeding four million and we continue to grow in the port cargo area. parades is europe's first major port immediately after the suez canal. it is the main entry point into the continent fork cargo that was to head into the dawkins or the eastern end of the european union. —— balkans of. it is experiencing phenomenal growth rate now, the second—largest port in the mediterranean. but despite all of
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that, not everyone is happy. george is general secretary of the pireas dock workers union. he said the port didn't need to be privatised to generate the funds required for investment and expansion. generate the funds required for investment and expansionm generate the funds required for investment and expansion. it was a lwa ys investment and expansion. it was always profitable. the last 80 years it was all is profitable, it was never subsidised by the state, it was always given and not taking a penny. so all of these investments that place in the authority was out of the work of people working here and down of the profits of the organisation. cosco's initial lease on pireas only runs for 35 years, that doesn't have a very long to make a return on all the money they are investing in the port, unless they can get an extension. philip hampshire, abc news, pireas. chinese customers have gained a discerning palate for australian wine. export scrip at their fastest rate in 50 years due to strong
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demand from the mainland. is it a fad or will it last as long as the old grapevine is that there its fruit? i put the question that kevin lucas. there is two sides to this. the chinese middle class growing at a rapid rate. most exporters had been targeting that. looking at treasury wine estates, they made a decision about four years ago to remove what they call their old, the lower end high and a volume materials out of china and really concentrate on the top and that is areas like pinfalls is state, grange hermitage, that is paying off with the numbers we have seen. chinese also have a growing wine industry. they now occupy more than 3000 square miles of land. will they eventually reduce their imports of australian wine? that is a possibility and part of the reason why there has been volatility in the listing. in may this year there was tension between australian and asian
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governments and that has led to a slowdown and customs hold up. always that risk but if you look at what came through from treasury, they have seen an increase of value of 35% of their total numbers going into the china. you can clearly see that the demand for australian products and bridge product is on the up. —— french product. products and bridge product is on the up. -- french product. with that we end of this addition of asia business report. i am rico hizon, sport today is coming up next. this is bbc news. the top stories this hour — italy has declared a 12—month state of emergency in genoa, after the motorway bridge collapse that killed at least 39 people. in afghanistan, there's been a suicide attack at an educational centre near kabul. at least 48 people have been killed, scores of students were injured. rail passengers are facing a rise in the cost of train tickets,
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after a jump in inflation. regulated fares in much of the uk will increase injanuary by 3.%, in line with the retail price index. our transport correspondent tom burridge reports. people have accepted that they don't have a choice, and you feel exploited, to some extent. passengers are really frustrated. you can see today, i'm standing right next to the door, just about get into the train. commuters crammed into a rickety old carriage early this morning. i payjust over £1,000 a year. john has two kids and commutes from appley bridge, outside wigan, into manchester. it's just absolutely horrendous. sometimes one train turns up, sometimes they don't. now his season ticket could cost an extra £32 next year, in line with inflation. i don't know how they can justify that when they can't even get it to run on time at the best of times, so it's an absolute disgrace.
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remember, this is august, when things are supposed to be quiet, but after half an hour of ourjourney, it was standing room only. and remember, these passengers have suffered weeks of disruption, with cancellations and delays. amid the anger overjanuary‘s rail fare rise, the government has now suggested that a lower measure of inflation — the consumer price index, rather than the retail price index — should be used in future to produce smaller increases to ticket prices, but it says costs, like rail workers' wages, should go up at a lower rate too. salaries amount to about half the costs of the industry as a whole, so you can't make adjustments without working with the unions as well. i'm really disappointed they've just said no. they've said, basically, we want our members to have higher pay rises than everybody else. the unions say the idea is a bad joke. labour agrees. chris grayling then trying to blame rail workers for this is absurd. it's his decision, his decision to keep this privatised network in operation, and there's a lot of people making a lot of money out
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of it and a lot of commuters paying an awful lot more to travel. paying more only works for sean and his daughter sophie if the answer is a better service. the england rugby international danny cipriani, has been arrested and charged following an incident an a nightclub injersey. police say the 30—year—old fly—half was arrested in the early hours of this morning, in st helier. he's been charged with five offences, including assault and resisting arrest. he's due to appear atjersey magistrates court tomorrow morning. now on bbc news, sport today. hello, i'm chetan pathak, and this is sport today, live from the bbc sport centre. coming up on this programme: atletico madrid score twice in extra—time to beat neighbours real and lift the uefa super cup. a blow for manchester city. kevin de bruyne could face a spell on the sidelines after injuring his knee in training. and, from a set down,
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novak djokovic battles back to make it into the third round of the cincinnati masters. real madrid's first competitive match without zinadine zidane and cristiano ronaldo ended in defeat, as their neighbours atletico beat them 11—2 in the uefa super cup in tallinn. the europa league champions, atletico, took the lead in the first minute through diego costa, before benzema equalised, and a ramos penalty turned the game around for the champions league winners. costa's second sent the game to extra—time, where a brilliant saul volley put atletico back in front, before koke scored a fourth. they made history by becoming the first premier league champions to reach 100 points. now, the inside story of manchester city's record—breaking
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