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tv   Asia Business Report  BBC News  April 18, 2019 1:30am-1:46am BST

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hello. i'm kasia madera, with bbc news. our top story: north korea says it's tested a new type of tactical guided weapon — it's the first test since the hanoi summit between kim jong—un and president trump. officials said that mr kim oversaw the test and he later said it had weighty significance in increasing north korea's military power. supporters of indonesia's presidentjoko widodo have been celebrating the news he has likely won another term as leader. unofficial results give him a lead of ten percentage points. and this video is trending on bbc.com. sadaf khadem, iran's first woman to take part in an official boxing match in france, says she has cancelled her return home after hearing an arrest warrant has been issued because she violated iran's dress code. more on our website. but that is it from me. thanks for watching. and the top story in the uk:
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a new law, designed to prevent children accessing online pornography, is to be introduced from the middle ofjuly. much more on that story on the website. now on bbc news, live to singapore for asia business report. temporary suspension, unable to pay forfuel and other temporary suspension, unable to pay for fuel and other costs, india's jet airways cancels all of its flights. from business to politics, the chairman of false concerns he is running to be taiwan's next president. good morning, asia. hello, world. it's a thursday. lead you could join us for asia business report. i'm rico hizon. we start off with jet airways and the report. i'm rico hizon. we start off withjet airways and the indian
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carrier has temporarily shut down operations. it failed to secure emergency funding from lenders. the lenders said it had no money left to pay for oil and other critical services. the firm has more than one billion us dollars in debt. its pilots, who have not been paid for three months, have threatened to go on strike, putting further pressure on strike, putting further pressure on the company. we have more from mumbai. after days of speculation the inevitable has happened. jet airways has suspended all its operations starting thursday. the airline was trying to secure emergency funds from lenders, but the banks refused to release those funds. the banks still believe that the airline can be revived and, in fa ct, the airline can be revived and, in fact, they are in the process of finding a new investor. according to multiple media reports they have shortlisted four entities, which includes etihad airways, which is a minority shareholder in jet airways. the lenders are hoping to identify
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an investor by me. but there are many questions as to whetherjet airways can be revived ——by may. the other questions are about the 16,000 jet airways employees, they will meet management on thursday, they are currently without jobs. meet management on thursday, they are currently withoutjobs. they will find out what happens next. as far as loyal customers go, it is a sad day for many of them. jet airways was really a pain as far as india's aviation industry goes and it played a key role in expanding the market in the last 25 years —— pioneer. in the midst of elections. earlier they asked alice taylor if he thought the government was trying to avoid the embarrassment of its collapse. it certainly plays a part in the thinking around this. it probably kept them flying longer than they would have. it is one of those things where the airline has really scaled back. it was down to
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operating we understand five aircraft yesterday before pulling operations. that is down from 120 aircraft they used to fly across the globe. briefly, if the indian government and the bank lenders cannot save jet airways, who will it be or will itjust die a natural death? i thinkjet is lining up to diea death? i thinkjet is lining up to die a natural death. an investor may come in from overseas to try to revive it but it won't be back to the same scale for a long time. ellis taylor. we turn our attention to taiwan, where foxconn chairman terry gou said he will be switching hats and running for president at the 2020 elections. this is how he made the announcement. translation: it came to me in a dream. she told me she hoped the people would have a better life. she said they have nurtured you from a child to a grown man. i am her
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godson. they want to do more for taiwan's people. in his announcement, he refers to the goddess of the sea, a popular goddess of the sea, a popular goddess amongst taoist figures. he has strong business ties with china while the current president has been trying to lean away from beijing. we bring in ourtaiwan trying to lean away from beijing. we bring in our taiwan correspondence as to the latest on whoa terry gou is running for president when he has held no political office. yes, many people would think that at age 68, mrgou people would think that at age 68, mr gou has everything he wants. he is one of the richest men in the world, with 7—$.3 billion. the richest in taiwan. he runs one of the most successful companies, foxconn, the biggest contract of electronic products, including apple iphones. he has a lovely family. the people aspect to know him so he wa nts to people aspect to know him so he wants to leave a legacy. he is concerned about tense relations
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between england china and taiwan. he said in his press conference yesterday that he sees this as his fate. this is important for people from his family background. his pa rents fled from his family background. his parents fled from mainland china at the end of the civil war. they lost everything. he is fully aware of the devastation of conflict between the two sides. he said that if he were to become president he would buy fewer wea pons to become president he would buy fewer weapons from the united states because, he says, ensuring peace, actually building peace is the best insurance for national security. briefly, as a successful entrepreneur, he wants to run the country like a business. indeed, there have been mixed relax reactions about the decision to run —— mixed reactions. while some welcome it and they want him to improve on the economy and relations with china, others are quite worried that his reputation as a top boss
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might not be appropriate for running a government and running the people of taiwan. there are some concerns. especially as he has strong business ties in china and he may not do what is best for taiwan if it hurts his companies' interests so by the taiwan billionaire wanting to run for president. cindy sue joining taiwan billionaire wanting to run for president. cindy suejoining us from taipei. thank you for that update. shifting to indonesia. presidentjoko widodo looks likely to wina presidentjoko widodo looks likely to win a second term in office. while official results are not expected until may counts of yesterday's ballot reveal a decisive victory for mr widodo over his rival, prabowo subianto. but even before the victory can be officially declared the challenges that lie ahead have become very clear. one keyissue ahead have become very clear. one key issue will be its sprawling economy. karishma vaswani reports from jakarta. this has not been an unexpected victory for indonesia's
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president, joko widodo. the unofficial results have shown a significantly for him. and even though there is still a challenge ahead with the opposition campus saying they have also one that this presidency, mr widodo is getting back to work today and is expected to be in the office to carry out this mandate. the election he has run has very much been focused on the economy. remember, back in 2014, when he was first elected, he promised he would see an economy that would grow by 7%. that didn't happen. instead, what we have seen over the last few years is economic growth in indonesia of around 5%. now, one of the other key platforms in this campaign has been infrastructure developments. and on that we have seen some evidence that he has made good on his promises. just down the street from here is jakarta's mass rapid transport system. the first infrastructure project of its kind in this city.
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while that has been a success, one of the other big infrastructure projects that mr widodo has championed has been the jakarta bando high—speed railway which has been made in controversy. has backing and financing from chinese investors, it has been a sore point in this election. whatever the results, the official results show next month, it is clear that mr widodo has his work cut out for him. this is the last chance he has to make good on many of the economic policies that he said he would bring in the reforms he would bring to southeast asia's largest economy. karishma vaswani their injakarta. over to the us and shares in the image sharing app interest will be traded in the us later today. it is the latest in a line of technology companies coming to market this year. in 2018 they generated
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reve nu es of year. in 2018 they generated revenues of 750 million us dollars. that was a leap of 60%. like many of its techer contemporaries, it is a long way from profitability. in fa ct, long way from profitability. in fact, it lost more than $60 million last year, although that is half the amountand last year, although that is half the amount and loss in 2017. things seem to be headed in the right direction. the firm is busily enticing new users. it added more than 50 million last year alone and 45 million of those were outside the united states. it now has 265 million active monthly users stop a figure thatis active monthly users stop a figure that is bound to interest investors. well, moving to other business news. making headlines, ivanka trump confirm she turned down the job of wild when her father asked confirm she turned down the job of wild when herfather asked if confirm she turned down the job of wild when her father asked if she was interested. last week, president trump told the atlantic he had asked her if she wanted the bank's most senior role, because she is very
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good with numbers. ms trump was eventually involved in selecting the new president, david malpass. the us has a long—standing if informal right to select the world bank's leader. let us have a quick look at the market ‘s. and we saw most of them in negative territory, marginally lower due to the downturn in the pharmaceutical industry. the dow, s&p, and nasdaq finishing marginally in the road. looking at the asian stock markets, this is how they are faring in early trade. most of them in negative territory as well. thank you so much for investing your time with us. i'm rico hizon. sport today is coming up next. this is bbc news. the top stories this hour: north korea says it's tested a new type of tactical guided weapon — the first missile test since the hanoi summit between kim jong—un
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and president trump. supporters ofjoko widodo celebrate after unofficial results give him a clear lead in indonesia's general election. a new law, designed to prevent children accessing online pornography, is to be introduced from the middle ofjuly. our media editor, amol rajan, reports. like so many industries, pornography has shifted online in recent years, dragging with it concerns about who is using it. these changes are significant, but is there any prospect of them actually working? drew? hello, mate, lovely to meet you. good to see you. drew wylie uses pornography. at 23, he belongs to a generation for whom porn has always been instantly accessible. everyone can...basically now has access that from a very, very, very early age, so i think that the level of exposure is much more extreme. but do you think that's dangerous? i mean, do you think a lot of young people are seeing stuff online that they shouldn't have? i do. it's dangerous, because young people are learning about sex through pornography which isn't...
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i don't feel that's how young people should be learning about sex. from july, users will have to prove their age using a variety of methods, such as with a credit card or passport, or with an age—verification card bought over the counter. the aim is to block sites that don't comply, but this will prove tough in practice. a generation ago, if you wanted to buy some porn, you probably had to go into a newsagent, reach up to the top shelf, and encounter some pretty awkward questions. what the internet specialises in is removing that human friction and replacing scarcity with abundance. but as ever with the web, there needs to be a balance between the gains and freedoms and convenience, and the risk of harming vulnerable people. that is what these reforms are aimed at. no wonder children's charities, who worry about the exposure of young minds, consider this new law an important step. what this piece of age verification works to do is to try and prevent the accidental exposure of young people to this content, because we are particularly worried about young people seeing this when they're not expecting to see it. amid the impulse to project children, many adults wanting
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to view legal pornography will be terrified about data leaks in the future. this academic at sunderland university has two main concerns. young people won't be put off looking at porn. they willjust go into different spaces to find it, so they'll be moving away from the spaces that we have understood to be legal into possibly more illegal spaces. and, secondly, we have no idea what might happen to people's details, once it's entered into that database. there are grounds for thinking these changes may not work, at least immediately. younger internet users are often the most technically astute, able to circumvent blocks, and many sites in breach of the new rules will be based overseas, making them harder to reach and punish. amol rajan, bbc news. now on bbc news — sport today.
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hello, this is sport today, live from the bbc sport centre. coming up on this programme: after an incredible seven goal thriller against manchester city — tottenham go through on away goals and will play ajax in the semi finals of the champions league. liverpool willjoin them in the last four where they'll play barcelona after easing through against porto 6—1 on aggregate. and defending champion rafael nadal moves through to the third round of the monte carlo masters. hello and welcome to the programme where we start with the news that tottenham have stunned manchester city to move through to the semi—finals of the champions league. despite manchester city winning 4—3 on the night the quarter—final tie finished level at 4—4 meaning spurs go through on the away goals rule — and watching at the etihad stadium was our sports correspondent katie gornall.
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this will go

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