tv Asia Business Report BBC News January 8, 2019 1:30am-1:46am GMT
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our top story: the former boss of nissan, carlos ghosn, is to make his first appearance in court in tokyo. it will be his first public appearance since his arrest in november, on allegations that he under—reported his income by tens of millions of dollars. he's expected to ask why he's been held for so long. the 18—year—old saudi woman who had been hiding in a bangkok airport hotel is being looked after by the un refugee agency. she said she feared she could be killed by her family. and this story is trending on bbc.com. these bluebottle man o‘ wars have stung thousands of beachgoers in queensland, australia, forcing the closure of many beaches. around 13,000 stings have been recorded in just the past week. that's all from me. stay with us here on bbc world news. our top story in the uk: theresa may has held a downing street reception for conservative mps, as she tries to persuade enough
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of them to support her brexit deal. the house of commons is due to vote on it next tuesday. now on bbc news, live to singapore for asia business report. ghosn to court. the former nissan chairman is set to make his first public appearance since his arrest nearly two months ago very soon. samsung slides. the world's exist smartphone makerjoins apple in downgrading its profit estimates. —— biggest. good morning asia, hello world, it is a tuesday. radita join us world, it is a tuesday. radita join us for another exciting addition of asia business report. i am rico hizon. let's start off with japan, where the former boss of nissan carlos ghosn will make his first
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public appearance since his arrest nearly two months ago. he will be attending a hearing in court any time soon, where he is also expected to publicly defend himself against charges that he misused company funds. for the latest, charges that he misused company funds. forthe latest, is charges that he misused company funds. for the latest, is over the tokyo. wejoined outside the courthouse by the bbc‘s rupert wingfield hayes. this mightjust be the most awaited court appearance in japan. i think you are right. we have waited a long time to hear anything from carlos ghosn. he was arrested at tokyo airport on november 19. he has been held now 50 daysin november 19. he has been held now 50 days in detention while he has been interrogated, we understand daily, by japanese prosecutors. he interrogated, we understand daily, byjapanese prosecutors. he has not been during the whole of that period been during the whole of that period been able to talk to anybody outside except his lawyer, not able to meet with his family, not to make any state m e nts with his family, not to make any statements at all. he and his lawyer had requested this appearance here today in the tokyo district courthouse behind me, the session is
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opening right now we understand and during the next hour or so, we are expecting to see in court, carlos ghosn‘s lawyers making statements, mrghosn ghosn‘s lawyers making statements, mr ghosn himself will be given ten minutes to make a statement himself and then the prosecutors, the tokyo prosecutors's office, the prosecutors's office, the prosecutors will also have an opportunity to make a statement. essentially, the hearing today is to decide all four mr ghosn in his lawyers to make a case for him to be released on bail. we understand that is what his lawyers and mr ghosn will ask for. they will say that this tension is unnecessary and unjust and that it should no longer be continued and he should be released on bail pending a proper court hearing, and his day in court, where he will have the ability to defend himself. in this case puts a lot of attention on japan's defend himself. in this case puts a lot of attention onjapan‘s judicial system 7 lot of attention onjapan‘s judicial system? -- and this case. yeah, it really does. you can see there are loads of cameras, all of us out here covering this live today. there are
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helicopters hovering overhead. we understand that 1000 people lined up this morning for 1h places in the public gallery, so there is massive public gallery, so there is massive public attention on this case and what has really shone a light on, certainly for people outside of japan, is how japan's judicial system works. there has been a great deal of criticism both here injapan from prosecutors and legal experts, and from outside, because of really the ability of the japanese prosecutors to keep a suspect like mrghosn in prosecutors to keep a suspect like mr ghosn in prolonged detention, as we said, it is now 50 days that he has been held. he has been charged with an offence of ms supporting the national information, but he has been rearrested twice and this could go on again this week. he could be rea rrested go on again this week. he could be rearrested again at the end of this we can held further, so a lot of people are saying this is really a very strange and somewhat unjust system of justice. very strange and somewhat unjust system ofjustice. thank you so much for that update, outside the tokyo courthouse. currently, we are seeing
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live pictures and it is currently a media frenzy, a lot of people awaiting the result of this court appearance of the former nissan chairman, carlos ghosn, inside this tokyo courthouse. thank you so much for that update, rupert wingfield hayes. south korea's electronics giant samsung estimated that first—quarter profit fell by 20% compared to the same time last year, and this guidance marks the company's and this guidance marks the compa ny‘s first fall and this guidance marks the company's first fall in quarterly operating profit in two years. this comes operating profit in two years. this co m es after operating profit in two years. this comes after rival apple last year warned of the impact of china's slowing economy. an economic analyst to in earlier and i asked in what is driving this week is, is that china? samsung just as not make simply smart phones and tvs, they make all the chipsets, the processes that go into all sorts of competing products and into other handset manufacturers. the manufacturers worldwide are huaiwei, 0ppo, also
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xiaomi. and they have been facing weakening profits due to the competition from these chinese phone makers? yes, both xiaomi and huaiwei have really close the gap between the top smartphone makers in the market, apple and samsung. a lot of smart phones that are being released right now lack innovation. there is, it isa right now lack innovation. there is, it is a wider global thing. it is not just it is a wider global thing. it is notjust simply it is a wider global thing. it is not just simply about the chinese, there is a slugfest in terms of the trade war between china and america, but supply chains go all around the world. samsung, priming for growth, where does it come from? there are rumours that for example it is going to be the xiaomi, 10th anniversary
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phone from samsung, there are even rumours of a foldable phone, that could go five inch screen to an eight inch screen, c would not need a tablet any more. that is going to be worth about $1800, so is going to ta ke be worth about $1800, so is going to take a while for that to become a mass—market product. —— so you would not need a tablet. an analyst at the world bank —— the president of the world bank —— the president of the world bank —— the president of the world bank has made a surprise announcement that he will step down. it is not due to leave until 2022 no reason reasons given for his resignation. the world bank's chief executive will resume the role of interim president. typically traditionally, america has been the one to choose the head of the world bank, while a european usually gets thejob of the bank, while a european usually gets the job of the sister organisation, the job of the sister organisation, the international monetary fund. pa rt the international monetary fund. part of the reason for this is that america is the institution's largest
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shareholder in one expects that the us treasury, which in the past has led these discussions, will do so now. the unknown in all of these is will donald trump use it to try and sort of ratchet up tensions will use it as sort of ratchet up tensions will use itasa sort of ratchet up tensions will use it as a pressure point against china? the it as a pressure point against china 7 the reason it as a pressure point against china? the reason i say this is that it has been critical of the world bank and the past in terms of how much it has lent to china. the other fa ct much it has lent to china. the other fact in all this also is that many other countries object to washington's control over appointing the successor. they think it should be another country. all right. briefly, what is the legacy of yong kim, he is leaving three years before the end of the term. that is right. he has done quite a lot in terms of developing infrastructure in developing countries. he has really lead the world bank both in terms of securing extra funding for it but also in terms of using different instruments, instruments or associated with the private sector to try and get more funding
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so it can help more of the world's poorest. you may recall his goal is to try and eliminate global poverty by2030, to try and eliminate global poverty by 2030, he leaves when thatjob is obviously not yet complete. india's cabinet has backed proposals to reserve 10% of governmentjobs for people outside the country's higher income brackets. the initiative is expected to benefit the upper end shalom is of india's centuries—old hindu caste system, which traditionally been a source of voters for narendra modi's party. how has this been received? well, it has come as a surprise really because this was approved by the cabinet on monday, now it is expected to be introduced into parliament on tuesday for approval by the legislature, so it will be interesting to see how this goes in the parliament but it is significant
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for two reasons. number one, traditionally if you look at india since independence, there is already a reservation system in place, about 50% reservation in jobs a reservation system in place, about 50% reservation injobs and education for the backward castes, but the existing reservation was based on these castes because traditionally, the fall in the poor income group, as well as it is considered that socially, they are backward. this time around, the new 10% quota is for those who are not in the high income group, however, the definition of high income group has been defined as people who earn less tha n has been defined as people who earn less than $11,000 yearly, which is more than 90% of the country, and you do not own more than five acres of land. however, what will be interesting to see is that in this new system, which is widely expected, is that the castes that already enjoy a reservation system will not be part of it, which means it will benefit the upper caste
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hindus in the country, yes, they are the traditional backers of narendra modi and his party in the collections around the corner, this is being seen as a political move which might benefit the party, so it is very interesting in that sense of timing in move. very interesting indeed. thank you so much for that update from mumbai. let's have a brief look now at the markets and asian stocks are rising yet again this tuesday, but not as bold as monday, the nikkei is up. the hang seng just gaining 16, and optimism about the outcome of trade talks between washington and beijing. thank you so much for investing your time with us. i am rico hizon, life now. —— bye for now. welcome back. our top stories this hour: seven weeks after his arrest on allegations of financial misconduct, former nissan chairman carlos ghosn is due
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to make his first appearance in a tokyo court. and authorities in thailand have said that an 18—year—old saudi woman who's seeking asylum will not be deported against her will. part of the government's planning for a possible no—deal brexit has been on display in kent. dozens of lorries took part in an exercise to measure the impact of extra congestion around the port of dover, if britain leaves the eu without an agreement. a convoy of lorries made the 20 mile trip between dover and manston airport, which could be used as a giant lorry park. 0ur transport correspondent tom burridge reports. more than 80 trucks, parked on a runway. a government—led no deal brexit drill, in case we exit the european union injust 12 weeks without a deal. manston airfield, near britain's biggest port, will be a holding area for trucks if there are suddenly checks on goods and queues at the border. they're now despatching the lorries in a controlled fashion, trying to work out how the roads en route to dover will cope.
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truck drivers involved set off early. tony believes no deal really is on the cards. on march 29th, i think it's going to be a bit of a fiasco. there won't be much getting out of the country and a lot not coming in. i think the motorways will be absolute chaos. learning how to mitigate chaos on kent's roads, in the approach towards dover, was the aim of today's exercise. but it was small scale. more than 80 lorries involved, when 10,000 pass through the port each day. it's good to have a contingency and it's good to pressure test it, but today was done with far too few vehicles and it was done too close to brexit. this should have been done a year ago. the government says it has to plan for all eventualities. it ran today's rehearsal with the local council. do you accept though that this can't replicate a no deal scenario? of course we can't replicate it because that would cause... well, we don't know what the scenario will be, but what we need to know is just
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actually to make sure we've got a flow and what impact it would have on the local network. are you worried about a no deal possibility? as a resident of kent, i'm worried, yes. today, at least, the roads were clear. 0n the face of it, today's exercise has gone pretty smoothly, but how much has the government really learned from ushering 80 lorries down a few roads? this is also about the government sending a warning. it's the prime minister's deal, or no deal is a real option. the government's no deal planning for traffic flow around dover has a budget of £35 million. but if things grind to a halt, the cost would be much higher. tom burridge, bbc news, in kent. we have lots more on brexit on our website. now on bbc news, sport today. hello, i'm tulsen tollett, and this is sport today, live from the bbc sport centre. coming up on this programme: liverpool are knocked out of the fa cup after a 2—1 loss at wolves making it back to back defeats
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forjurgen klopp's side. iran win 5—0, as they show why they are one of the favorites at the asian cup. and the dakar rally is underway — we'll bring you the latest from the race through the peruvian desert. hello, and welcome to the programme, where we start with football news in england, and the last of the fa cup third—round fixtures has seen wolves knock seven time winners and premier league leaders liverpool out with a 2—1win at molineaux. watching was ben croucher. if you're going out of the fa cup, go out with a bang. molineaux provided the spectacle befitting a final. wolves and liverpool provided a first half befitting the qualifying rounds. plenty of changes and unfamiliar faces from both teams. it started to go wrong for liverpool when dejan lovren's night went out
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