tv Asia Business Report BBC News October 17, 2018 1:30am-1:46am BST
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journalist jamal khashoggi. the us secretary of state, mike pompeo, is in saudi arabia meeting the country's leaders. in a statement, he said riyadh has pledged to conduct a thorough and timely investigation. the duke and duchess of sussex continue their first overseas tour. it is day two in australia, with the couple's pregnancy still centre stage. and this video is trending on bbc.com. k—pop singer hyuna from korean pop band triple h has been sacked by her record label for being in a relationship with bandmate e'dawn. many k—pop artists are not allowed to enter into any form of romantic relationship while under contract. that's all. stay with bbc world news. and the top story in the uk: bbc news understands that the speaker of the house of commons, john bercow, intends to stand down next summer. he has been under pressure to resign following the publication of a report claiming bullying and harassment have been concealed
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at westminster for years. now on bbc news, live to singapore for asia business report. pressure grows to saudi arabia to explain the fate of missing journalist jamal khashoggi. what effect is that having on the saudi economy? recreational marijuana is about to become legal in canada and canada's producers are banking on the financial high they will receive from the growing industry. hello and welcome to asia business report, mik the us secretary of state, mike pompeo, has met saudi leaders. the
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saudi crown prince has denied knowing what happened to the missing journalist at the international backlash overjamal journalist at the international backlash over jamal khashoggi's disappearance has tarnished saudi arabia's reputation and affected investor attitudes to the country. earlier this week, the saudi stock market took a dive, wiping out all the gains it had made since the start of the year. add to that, prominent businessmen including richard branson prominent businessmen including richard bra nson have prominent businessmen including richard branson have backed away from business deals and international sponsors have pulled out of a high—profile investment conference hosted by mohammad bin salman which is due to be held in the capital next week. the conference as part of the kingdom's effo rts conference as part of the kingdom's efforts to attract investment as it looks to diversify its economy. in 2017, the size of the saudi economy was $684 billion, roughly about 45% of that was actually generated by the petroleum sector which makes up 90% of the country's exports. the
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crown prince has been trying to reduce saudi arabia's dependence on oil by investing in education infrastructure and tourism. earlier i asked a correspondent from the university of tokyo how damaging this incident has been to the saudi economy. in terms of the domestic saudi economy, the impact is very limited because they are still heavily oil dependent and government dominated economy, even though we have been hearing a rosy future plan. we know the impact is not limited to the saudi economy, but businesses and companies connected to it. we know shares in softbank, for instance, have fallen due to that international backlash, saudi arabia being the biggest investor in softbank‘s vision fund. he hasn't made any decisions yet, so how much reputational damage if this doing to companies like this? he and mohammad
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bin salman are so closely associated, so now mr sung cannot go away. if he backed down now, it seems like he dealt the final blow to his friend. netflix is showing no signs of slowing down. the streaming service has added about 7 million new customers in its latest quarter. that is 1.8 million more than wall street expected. however, technology reporter david lee says investors we re reporter david lee says investors were initially sceptical. just before these earnings came out shares in netflix went down because many people were worried they were going to miss their targets for growth, which is the key metric for this company still. instead the opposite was true. they added a huge amount of new users, many more than people thought, almost 2 million more than it had predicted three
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months ago. that brings the total number of users on netflix to 137 million people. what was particularly interesting about these results, and why they are considered to be so strong, is that while many people have expected netflix to add many international customers, which of course they did, 5.9 million, they also managed to add over1 million in the us as well and a nalysts million in the us as well and a na lysts ha d million in the us as well and analysts had been expecting around half that if these results were good. so the fact they managed to read so many good. so the fact they managed to read so many more users good. so the fact they managed to read so many more users in that region is particularly impressive. one concern investors have is that the company is still borrowing an awful lot of money in order to make their new programmes. however, i think as long as the growth keeps up at this rate investors will remain happy. and on that, netflix has predicted 9.4 million new subscribers in the next quarter. so as far as netflix is concerned, there will be more good news coming later this year. now, it is known as
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the fourth industrial revolution. i am talking about automation in manufacturing and other industries. it is transforming the way products are made, but critics say technological development could threaten millions ofjobs around the world. our correspondent says the fourth industrial revolution is not about humans versus machines but getting humans to do what they do best and leading machines do mundane, repetitive work. we have seen a mundane, repetitive work. we have seen a lot of impact from digital technology in our lives as consumers, and now that is making its way into the core of industry, which is to say how products are designed, engineered and brought to market. what we have seen a lot in previous generations is how industrial revolution is based on stea m, industrial revolution is based on steam, electricity and then competing have affected the way society lives and works. and in those previous industrial revolutions, they were all pretty much started in the west, but now that we are in this new century, of
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course, asia leading the way for a lot of the technology that is being created, leading into an industrial transformation, how is this region doing? there are a number of considerations which go into how different regions are going to behave and succeed in the future. one is how important is industry in the current economy is? and of course it is very important in the asia—pacific region. secondly, a lot of it is about the digital infrastructure, and again, asian countries compare very well when it comes to the readiness for digitisation. finally it is about talent, and having the people coming through with the skills that are able to pick up his new digital technologies, which is also a strength in this region. and i suppose the thing people most worry about isjobs, suppose the thing people most worry about is jobs, artificial intelligence and whetherjobs are at risk. will there ever be a need for someone risk. will there ever be a need for someone like me asking the question in ten years, will we have a robot to do it instead? this is always the question when it comes to the previous industrial revolutions and
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the one we are facing right now. i blame hollywood for putting out this human versus machine dynamic. if you think about the terminator series, that was very much the way it was viewed. we see it as more about the human plus the machine, because there are things that humans do really well, things that machines do really well, things that machines do really well, things that machines do really well, and if we get the best of both worlds, that is where we will see the real magic coming from. starting today, cannabis will be legal in canada, and that makes it the largest country in the world to actually legalise recreational marijuana. it is not surprising that pot has become a multibillion dollar industry, and canada is positioning itself as the global marketplace for cannabis. our correspondent reports from ontario. ganj, weed, i'd, call it what you want, the fact is that
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cannabis in canada is coming into bloom —— bud. it produces a staggering amount of legal marijuana. we are kind of like a tech company that produces cannabis. it had to be done properly and it was more about tech than it was about kush. inside this bolt is where they keep the stock which is ready to ship. security is tight and surprisingly, considering the $500 million worth of no wonder that line the shelves —— unsurprisingly. this isa the shelves —— unsurprisingly. this is a street, toronto, canada's financial district —— bay street. it is dominating the industry. just ask investor paul rosen. this has become the hub of the cannabis industry. toronto specifically is where most of the global cannabis companies are
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coming to raise their capital. they wa nt to coming to raise their capital. they want to list on the canadian security exchange because they can't list on the nasdaq. even energy creators are investing in cannabis. they are saying we can't find enough trained people for this. so it was only natural that he start canada's first—ever cannabis programme. there we re first—ever cannabis programme. there were 300 applicants were only 24 spots. in this classroom, students are learning to cultivate marijuana on an industrial scale. the goal is to get them into cannabis companies fast, to start running their production operations. there is also the added benefit of giving some of these students more legitimate or legal experience. hasn't been a professional industry, so the technologies have stayed kind of minimal, in order to keep it under the radar. does that mean you have a lot of illegitimate experience? yes.
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ido... lot of illegitimate experience? yes. i do... should ijust tell you my name? i don't think i should have done that. canada is the first country in the g20 to legalise recreational marijuana. whatever happens here will be closely watched by people around the world. both for the risks and for the potential rewards. let's look at what else has opened on a high, and those other markets, as you can see. the nikkei 225 is up well over 1%. australia is pretty much tracking wall street, where we are seeing stocks rebounding thanks to those great corporate results we have been telling you about. that's it for the programme. this is bbc news. the top stories this hour: the us secretary of state has met the saudi leadership to seek answers about the disappearance of journalist jamal khashoggi. prince harry and meghan markle continue their first overseas tour. it is day two in australia. a man has gone on trial for the second time charged
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with the murder of two nine—year—old girls 32 years ago. russell bishop, who is 52, is accused of killing nicola fellows and karen hadaway, who were found dead in woods near brighton in october 1986. from the old bailey, our correspondent daniella relph reports. more than 30 years ago, the families came to court for the first murder trial. today they returned, at times in tears, as they again sat through the evidence. karen hadaway was nine years old when she died, described in court as a sensible girl who knew right from wrong. nicola fellows, also nine, was said to be the stronger of the two. she was outgoing, and would speak her mind. the girls were neighbours. their bodies were found on 10 october 1986. they had both been strangled and sexually assaulted. they were discovered together in wild park, in brighton,
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just half a mile from their homes on the moulsecoomb estate. they had both disappeared after going out to play. back then, russell bishop was arrested and tried for their murders, but he was acquitted and released. three years later, he assaulted and attempted to kill a seven—year—old girl. she survived and identified him. he was found guilty at trial. today he was back in court again, accused of the murder of karen hadaway and nicola fellows. jurors were told there was new evidence, much of it dna—based. the prosecution told the jury that the bodies were discovered in undergrowth in wild park, and that russell bishop told the police details about the scene that only the killer himself could have known. this is a key location that the jury will see for themselves. all 12 jurors will be brought here from london to view a number of areas that are significant in the case. the families face a trial of up to eight weeks. the case remains the largest and longest—running inquiry ever
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undertaken by sussex police. daniella relph, bbc news. there has been a significant rise in religious—based hate crime in england and wales, according to new figures released by the home office. it has gone up by 40% in a year, from just under 6,000 reports to more than 8,000. more than half of all the offences were aimed at muslims. scottish power will be the first of the biggest utility companies to generate all of its electricity from wind power. the company plans to invest more than £5 billion over four years to double their renewable energy output. it comes after the company sold off the last of its gas and hydro power stations. now on bbc news, sport today. hello, i'm tulsen tollett and this is sport today, live from the bbc sport centre.
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coming up on this programme: the pressure builds on germany coachjoachim loew with yet another defeat — this time a 2—1 loss in paris to world champions france nathan lyon becomes australia's fourth highest test wicket taker. and johanna konta moves through to the second round of the kremlin cup in moscow as she starts work with a new coach. hello and welcome to the programme where we start with the football news that germany were beaten 2—1 by world champions france in the uefa nations league — a result that will do little to lift the pressure on managerjoachim loew. germany took the lead in paris through toni kroos from the penalty
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