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tv   Asia Business Report  BBC News  October 24, 2018 1:30am-1:46am BST

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for china's muslim uighurs. it's thought as many as a million people from the uighur community are being held without trial in the western region of xinjiang. china denies the claims, saying it has a programme of "vocational training centres". the family ofjamal khashoggi has met the saudi royal family in riyadh. president trump called events after the murder of the journalist "the worst cover—up in history". and this story is trending on bbc.com: this is prince harry drinking some kava as part of a welcome ceremony, as he and meghan continue their royal tour to the pacific island of fiji. kava is a traditional drink, which is shared at ceremonies and has anti—anxiety properties. that's all. stay with bbc world news. and the top story in the uk: ferry and freight companies are to be urged to plan alternative routes for important shipments in the case of a no—deal brexit. now on bbc news live to singapore for asia business report.
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caught between the us and china, we speak to pantomime byes vice president to see how the central american hub is dealing with the trade war. and amazon reaches new heights. meet the e—commerce giant first career in the himalayas. good morning and welcome to asia business report live from the singapore. we do not often thought about central america on our programme, but this morning will focus on panama because like much of the world, it is being caught in the us- the world, it is being caught in the us— china trade war. the country signed up to beijing's $124 billion
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one belle and one road initiative last year. it could see the coming training hub between the worlds two biggest economies. but the project is not without its controversies, especially over how other countries from malaysia to montenegro are now in huge debt to beijing. the us or terry of state has warned panama and other nations about the potential dangers of accepting chinese investment. my pompeo sent quote... java is to display in projects for building ports and roads in panama and at the same time, the us and their own overseas investment agency is also actively competing with china to finance infrastructure projects in panama. the country's vice presidentjoy to me earlier and
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i started by asking her about what she thought about the trade war. panama is a country that took the decision of establishing somatic relations with china up in a sovereign fashion. we are a country aware of our realities, of our opportunities, and aware of the steps away to take, being careful and everywhere was shot and with every other country. so i think the important thing for us here is to see what is the potential for a country like panama with a strong economy, with a logistic hub connected to the world through our canals, through our ports, through oui’ canals, through our ports, through our airport, which is a main air connectivity hub. what are opportunities with establishing relations with such a strong economy like china. do you agree with his concerns because evidence is clear that other countries which took chinese investment have a huge debt. what are you doing to prevent being
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in the same situation? let's look at panama positive comment. we are a real economy. we have all resources, we are not dependent on companies coming infinancing we are not dependent on companies coming in financing our projects for us. coming in financing our projects for us. we have a very stable country, important and good economic ratings. so we are not in a vulnerable position. that would be the key thing to evaluate in every case. both china and with every other country. countries that are vulnerable because their economies are weak because they do not have a sound system to ensure that steps are taken considering their own interests would be in a different situation from the situation that panama is in. and this was actually a thing that came up in the discussion. that we should not be concerned. you would not turn on the investments in the us or china but the two countries of course are
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locked in this trade war. if you had to choose, is their preference for the us, which helped to build your country as one of the shipping hubs of the world and dufresne shall i? sovereign countries i do not think shoes friends. sovereign countries ta ke shoes friends. sovereign countries take every decision, taking into consideration the importance and the objectives of their own country. the us has been our strong ally for many, us has been our strong ally for any us has been our strong ally for many, many years. it will continue to be our strong ally. we weren't really closely with the us in terms of security. there is a large important for investment from the us in panama and we are sure that will continue to happen, but we welcome foreign direct investment from other countries. at the same way that we are countries. at the same way that we a re careful countries. at the same way that we are careful with using our contractors, choosing our partners for any project, we will be careful with the incoming of new companies. this is something that is a reality for every country, no less for
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pantomime and it is for any other country. so i think the important thing is tojust country. so i think the important thing is to just know that we are a sound economy, we have our own interest, weight have a country can do to the world, and we will make sure we continue to grow up taking into consideration those objectives. that was the vice president up animosity to me earlier. now dyson is best known for its vacuum clea ners is best known for its vacuum cleaners and hair dryers but did you know that it will soon start building electric cars? and even though the country's founder is a supporter of brexit, he decided to asa supporter of brexit, he decided to as a place to manufacture his latest invention. the uk based company will break ground on its new singapore factory later this year, with the first car scheduled to roll off the production line in 2021. abbott says in 2021. albert is editor has more. some of woman here in the uk. dyson
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does not manufacture any of their vacuum cleaners or hairdryers in the uk. a slight surprise it was singapore. it is a very expensive place to do business with the company referred to the strong engineering talent and the communion supply chains in that region and also its proximity to some of its key target markets, including china as the reason they have plumped for it. they tell me they will break ground on the factory letter this yearin ground on the factory letter this year in december, production will start in 2020 with the first car due to roll off the production line in 2021. an ambitious timetable and an ambitious project. of course, dyson is entering a very crowded electric car market. the likes of balls loaded, tesla and others and me to build a much higher volumes. it will be to see what kind of product they're looking to put out there. and what interesting point that has been noticed here in europe is the singapore has a dotted dashed radio
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with the eu which would reduce ta riffs with the eu which would reduce tariffs on electric car imports from the singapore 20 overtime. now if the singapore 20 overtime. now if the uk was to fall out of the eu with no deal, ironically could be more expensive dissent cars back to where they would decide, here in the uk, than in europe. simon jack there. in other business news making headlines, the european commission has sent italy back to the drawing board to revise its budget. it is an opposite of move with regard to an eu member state. it opposite of move with regard to an eu memberstate. it —— opposite of move with regard to an eu member state. it —— italy is a eurozone's third—biggest economy and the commission is worried about the impact of higher spending on already high levels of debt. italy's governing populist parties have vowed to push ahead with campaign promises including a minimum income for the unemployed. the country now has three weeks to submit a new d raft has three weeks to submit a new draft budget to brussels. tesla shares have jumped to draft budget to brussels. tesla shares havejumped to more than 12% after a long time critic of the company said it had at a change of
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heart and is now betting the electric auto—makers start will rise. the firm says tesla's model three sedan is a proven hit and a serious competition to other car—makers for the market that has not materialised. tesla believes is most not materialised. tesla believes is m ost rece nt not materialised. tesla believes is most recent earnings at the market closes today, a week earlier that he has normally reported. the city of is nestled high in the indian himalayas at a dizzying altitude of 3500 metres. but even the world's tallest mountain range cannot prevent global e—commerce from reaching its doorsteps. this man used to work as a guide in the region but when amazon opened a branch in his city last year, he jumped at the chance to switch his careers. let's show you the markets before we go because japan's has begun trading up go because japan's has begun trading up marginally by about 90%. 0f course, it was a really bad day for asia investors yesterday with a
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sharp fall across the board. 0vernight sharp fall across the board. overnight in the us, meanwhile, wall street indexes fell after yet another volatile session. we will continue to monitor whether chinese shares, how they are going to trade this morning. that is it for us. thanks for watching. this is bbc news, the top stories this hour: the bbc has uncovered evidence of a vast network of detention camps for china's muslim population. as the family ofjamal khashoggi meet the saudi royal family, president trump says the killing is the "worst cover—up in history". the irish government has announced that the site of a former mother—and—baby home, where almost 800 babies and children may be buried, will be excavated. 0ur ireland correspondent emma vardy reports. this was once the grounds of a former home for unmarried mothers, known as the fallen women.
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a mass grave was found here four decades ago. then, people were told it held the remains of those who died during the great famine. but more recent research found the grave contained the bodies of almost 800 babies and children. it's believed they were buried in a septic tank. now, the site will be excavated to recover the remains. at a press conference today, the minister for children said it was a huge task which presents technical and legal issues. the actions which will now be taken are — a phased approach to the forensic excavation and recovery of the children's remains, insofar as this is possible. and then arrangements for the respectful reburial and memorialisation, as well as appropriate conservation of the site. it was an important step, she said, for those who believe they have a loved one whose remains are here.
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this catholic—run institution had high infant mortality. from the 1920s to 1961, many children died of sickness and malnutrition. the bodies to be exhumed are all believed to be of those aged between two days and nine years old. well, it is great, really, for all the mothers that had babies here, whether they were adopted or fostered or buried here. at least it's an acknowledgement that the state and church did wrong. it was an amateur historian who first brought this scandal to light. catherine corless's findings exposed the vast number of child deaths. she has long called for the mass grave to be dug up. i'm just very, very relieved. i'm very happy for the survivors. i am happy for all the little babies who are buried right on this spot, right underneath us here, in the tanks, and it's more than we expected, really. the excavation, it's hoped, will
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uncover the secrets of this site. former residents of the home and their families have waited many years for answers. emma vardy, bbc news. don't forget you can get in touch with me and some of the team on twitter, i'm @babitabbc. mike is and in 15 minutes with the rest of the news for you. now at is time to catch up with all his court news with us or to date. see you soon. hello, this is sport today live from the bbc sport centre. coming up on this programme: ronaldo returns to old trafford as hisjuventus beat manchester united 1—0 in the champions league. we'll head live to boston as the red sox get set to host the la dodgers in game one
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of major league baseball's world series. and defending champion caroline wozniacki gets her first win at the wta finals in singapore, beating petra kvitova. hello, and welcome to the programme, where we start with the footballing news that cristiano ronaldo's return to old trafford ended in victory for hisjuventus team over manchester united. the 33—year—old spent six years with united, winning the champions league, before moving to real madrid, which saw him win it a furtherfour times. the 1—0 victory in this game courtesy of paolo dybala's first half goal means the italians are five points clear at the top of group h. 0ur sports correspondent david 0rnstein was there for us.
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