tv Asia Business Report BBC News October 31, 2018 1:30am-1:46am GMT
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our top story: president trump has offered condolences at the synagogue in pittsburgh where11 worshippers were killed by a gunman on saturday. protestors from one jewish organisation said he was not welcome until he denounced white nationalism, but the rabbi of the synagogue said donald and melania trump were welcome. bangladesh and myanmar have agreed to begin the repatriation of rohingya refugees next month despite a warning from un officials that conditions are not right for their return. and this video is trending on bbc.com: the world's tallest statue, standing at 182 metres tall, opens in india. the statue of unity is twice the size of the statue of liberty, and has taken more than 3,000 workers nearly four yea rs to construct. you are up—to—date. stay with bbc world news. and the top story in the uk: police investigating the unsolved murder of suzy lamplugh are digging up a garden in the west midlands. officers say they've received new information about the 25—year—old estate agent's disappearance more than 30 years ago.
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more from me later, but first, he is sharanjit. —— here is. facebook fallout, shares of the social network giant have been on a rollercoaster ride as profits beat expectations, but it misses the mark on use of growth. bitcoin‘s birthday as the world's leading digital currency turns ten, will it still be around for the next decade? hello and welcome to asia business report, i am sharanjit leyl. we start with facebook‘s latest profits, which have beaten expectations, but the social network giant reported its lowest revenue growth in about six years and it missed its target for growing monthly users. the company shares
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have been fluctuating in after—hours trade as investors weigh up the fallout of its data and fake news scandals but our new york business reporter gave us a rundown scandals but our new york business reporter gave us a rundown of the numbers. it isa numbers. it is a bit ofa numbers. it is a bit of a mixed bag when you are looking at this investor report, this earnings report. 0n the one hand, you see that use of growth is slowing somewhat. in fact, there are some staggering figures. facebook has put out — they say that more than 2.6 billion people use one of their platforms, facebook, whatsapp, messaging or instagram, at some point during the month, which is a staggering amount of people. that said, it is a matter of how they are able to monetise all of this and that has been difficult for facebook. if you look at user growth, it has been increasing month over month, quarter over quarter, but the problem is the pace of growth has been slowing down and
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that as investors worried. so mirror's is saying in new york. in other news making headlines, australia ratified an 11 member trade deal making it the 6—nation to join the revised pack now called the comprehensive and progressive agreement, the trans—pacific partnership —— samira husein. the group aims to slash barriers in some of the asia—pacific's fastest growing economies. the trade agreement will come into force at the end of december. the us was meant to be a member of the tpp, but donald trump withdrew from the deal in one of his first moves as president. and the bank ofjapan is set to keep its monetary policy unchanged after their two—day meeting. ward members signalled they plan to maintain their massive stimulus package as inflation is a distant target from its 2% target —— board members. the boj might end the growth, but maintained projections for the following two years.
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now, you may have heard of uber, grab, but now there is shohoz, taking to the streets of bangladesh. now, its name literally means easy. i asked the company founder why she plans to expand in the challenging transport environment bangladesh, and where she aims to take the firm next. the idea is to make life easy, easy by offering all kinds of online services, so we began as a ticketing company, and as we go forward ridesharing is the core service, we will have tickets, long—distance tickets, we will launch a food deliveries soon. you say it is easy, but certainly it must have been challenging starting something like this in bangladesh, which is a huge developing country, so what were some of the struggles he faced? the struggles are multiple, one is attracting foreign capital. we have had wonderful investors, now we have finished series a and b, and it is
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challenging because bangladesh is a new market. people don't realise it isa new market. people don't realise it is a country of 160 million people with steady gdp growth of 7% year—on—year for seven years. with steady gdp growth of 7% year-on-year for seven years. tell us year-on-year for seven years. tell us about bangladesh's transport infrastructure. in august there were student protest led by the fact that a speeding bus had killed two children and within that kind of environ it must be very hard to operate a transport company. population density is huge and, like any other developing country, the infrastructure is challenged. resource challenges and just a strain on the system. so many people around. that is what creates the chaos. that is where as a ridesharing company we have brought about a new way of moving around in the cities in local transport, which isa the cities in local transport, which is a big relief for people. you know motorbikes offer easy and can be convenient transportation. so having
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a car as ridesharing is difficult for people. china's currency is flirting with the seven yuan mark against the us dollar which hasn't been seen since the 2008 financial crisis and movements in the yuan are being closely monitored because it is a flashpoint in the trade war between the us and china. steve brice, chief investment strategist from standard chartered bank told me about the central bank intervention.” chartered bank told me about the central bank intervention. i think it can determine where they want a level and they should achieve that pretty much. so the key thing for them obviously is they are trying to manage several things at once, their relationship with the us, the domestic economy. so the economy clearly is at a structural slowdown but also a cyclical slowdown so to some degree they don't want the cmy to weaken, to strengthen significantly, or to mitigate those concerns, so from where we go from here i think they will obviously be
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very focused on what happens with the dollar, so if it remains on a bull trend as it has done this year than the cmy is likely to breach that seven level. so you are saying really it is a story about the strong us dollar but of course ironically we know that the weaker cmy as you call it, the yuan, is good news for chinese exports and it helps to boost their economies at a time when we know it is beginning to slow, so it will also be a flashpoint in the talks between presidents trump and xi, how complicated can matters get? they are already quite complicated, we don't expect the macro want to break seven don't expect the macro want to break seven before the meetings take place, and while seven is only a number, it is important for those talks —— they don't expect the yuan to break seven. the overall relationship between the us and china is going to remain complex for a long time. if you look at the us's "make america a great again" china
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has "china 2025", not mutually exclusive but competing, so this is the yuan and its outlook, that's wanting to focus on, but obviously you have the trade war as a much bigger thing that we need to be worried about. that was steve brice from standard chartered private bank. ten yea rs bank. ten years ago today in fact, bitcoin was born, at least, the concept was, a mysterious person going by the fictitious name of satoshi nakamoto outlining how it would work, it is aimed to be a worldwide digital currency that governments and banks can't interfere with, so a decade on, who trades it, and why is bitcoin now valued in the thousands of dollars? let's take a look. hgppy happy birthday, bitcoin. now, before we head to the markets, let's look at what apple is doing because they're shining up some of the lesser—known products, it is adding features like facial recognition to the ipad pro and fast processors to
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some mac that have gone without updates in years. counting new iphones and apple watchers this year, the company will have more than half a dozen products on shelves for the holiday shopping season “— shelves for the holiday shopping season —— apple watches. so get ready to open those wallets. let's look at those markets now because they're doing well in asia, as you can see, most of the markets have opened considerably higher, the nikkei over i%, that is really due to the weaker yen or the strong us dollar which helped the japanese exports, and taking their cues from wall street, we saw the strong gains on wall street thanks to the earnings results, with or technology chip stocks doing particular well, transport stocks as well, so a lot of those asian investors are seeing the uptick in sentiment —— we saw. although of course there is caution because of the volatility we've seen over the last few weeks. and that's it for this edition of asia business
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report. i am sharanjit leyl. thanks for watching. you're watching bbc news, a reminder of the headlines: president trump has visited the scene of the massacre in pittsburgh and faced some protestors saying he was not welcome. bangladesh and myanmar have agreed to begin the repatriation of rohingya refugees next month, despite a warning from the un that conditions are not right for their return. when the people of warwickshire decided to honour the war dead from their local regiment, they set themselves a task of making 11,610 poppies — one for each soldier who died in the first world war. what came next was quite remarkable. word spread and tens of thousands of poppies arrived from all over the world. the spectacular tribute is on display at st mary's church in warwick. kevin reide went to see it. the idea was to get 11,610 copies and put them on display in st mary's
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church in warwick, each one representing each soldier of the royal warwick regiment who die during the first world war, but they had been inundated with well over 60,000 being sent in. it isjust, wow, people walk in and that is their reaction, they might have seen voters in the press or on social media but to see it in person you can't beat it. there are poppies from local primary schools, local people, but also as far afield as the united states, canada and africa. and these have been sent over from the people of warwick in australia, that's how far word has spread. janet from warwick, warwickshire, decided she would crochet 1000 but ended up making 2000. they now make up this important part of the display. my first reaction when i came in the evening that they launched it was, oh, my goodness, and a great lump came into my throat, i couldn't speak, i had a tear in my eye and i was just overwhelmed with the
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wonderfuljob that they have done with mounting it all. and soothe from warwick also became interested when she saw a familiar name on warwick's war memorial, tw andrews was a long forgotten uncle, she has since sought out and visited his grave in northern france and her husband has created this copper p°ppy 35 husband has created this copper poppy as part of the display and so he will never be forgotten against ocular i think it's brilliant because i think most families because i think most families because of the huge number of soldiers killed have the family member who was involved in that war. it gives everyone an opportunity to say, you are not forgotten. the poppies will be on display until december nine and st mary's church is open seven days a week with free admission. it is a site worth seeing. kevin reide, bbc midlands today, warwick. mike embley is here at 2am with all of the headlines, and that is it from me. iwill
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of the headlines, and that is it from me. i will be back with another edition of newsday. now on bbc news, sport edition of newsday. now it is time for sport today. hello, i'm chetan pathak and this is sport today, live from the bbc sport centre. coming up on this programme: so long lopetegui, but who's next to take charge at real madrid? the four—time champion novak djokovic powers in to round three of the paris masters. and the nfl announces it'll stage four american football matches in london next year. welcome to the programme, thanks forjoining us. real madrid's interim boss santiago solari says he's not ruling out taking the job on full time if he's offered it. he'll take charge of his first game
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on wednesday against lower league side melilla in the copa del rey. it follows the sacking ofjulen lopetegui after the club's worst start in 17 years. but as patrick geary reports, there are plenty of big name contenders in the frame to replace him. real madrid's often described as an institution. for some, real madrid's often described as an institution. forsome, palliser. for some, prison. there are reminders everywhere of the glorious past and
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