tv Asia Business Report BBC News April 24, 2019 1:30am-1:46am BST
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anguish turns to anger in sri lanka as more details emerge of the prior intelligence the country had on sunday's attacks. even the president says he wasn't briefed about the warnings, and has promised sweeping changes to the military and security services. setting off for another summit — this time north korean leader kim jong—un heads to russia, where he'll meet president putin for the first time. and this story is getting a lot of attention on bbc.com: campaigners opposed to president trump say they're planning a major protest when he comes to the uk for his first state visit injune. mr trump's working visit last year also attracted large demonstrations. this time he'll visit buckingham palace as a guest of the queen. that's all. stay with bbc world news. and the other top story in the uk:
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16—year—old swedish climate activist greta thunberg goes tells —— tells mps her generation's future has been stolen appealing for more action on climate change. now on bbc news, live to singapore for asia business report. sri lanka is still reeling from sunday's attacks, but how will its crucial tourism industry he affected 7 crucial tourism industry he affected? and crucial tourism industry he affected 7 and we crucial tourism industry he affected? and we look at boeing, whose reputation has been tarnished after two recent fatal crashes. what impact is it having on its bottom line? good morning, and welcome to asia business report, live from singapore, with me mariko oi. let's begin with sri lanka, whether country is still in shock after the
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bomb blast struck and hotels on easter sunday. several countries including the uk and us have issued travel warnings for its citizens going there. there is increasing fear about the impact on the country's tourism industry, which is a key moneymaker for the economy, contributing just under 5% to the country's gdp, around 4.5 billion us dollars and tourism has been a key supply of foreign currency for the country whose economy has been struggling. last year 2 million travellers visited sri lanka which isajump of travellers visited sri lanka which is a jump of 400% from a decade ago. airlines and travel agents have said they would waive cancellation charges for people wanting to cancel travel plans. sharon, the country mourns the victims of the attacks.
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it does, mariko. tuesday was an official day of mourning, but the grief continues for so many who lost loved ones and family and friends here. we know of course these attacks had such a devastating impact, a terrible impact on the tourism industry. the nature of the attacks — we know of course churches and christians were targeted — but of course luxury hotels, some of them you can see behind me here, the shangri—la hotel and the kingsbury, for instance, along with the cinnamon grand hotel mother nature of the attacks that these assailants we re of the attacks that these assailants were going after tourists — of course we know 321 people have died —— and the nature of the attacks. it may likely rise. 38 of them were foreigners. and among the nationalities that died you had brits, you had indians, danes, spanish, swiss, dutch, turkish, a
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great number of nationalities who we re great number of nationalities who were killed here so it would suggest that terrorists were specifically targeting them. we know as well that sri lanka has made such strides since the end of the civil war a decade ago. you mentioned that of course, tourist arrivals have risen some 400% since 2009 and that is when the civil war ended, so it's made such progress over the last decade and this suicide attack is unlikely to help. in fact it made such progress it even topped the list for places to visit, it was on the top place to visit for lonely planet's guide for 2019. i was here with my family as a touristjust planet's guide for 2019. i was here with my family as a tourist just a week ago, mariko, so it is with shock and horror that many people look at this place now and think it isn't safe to visit. and u nfortu nately isn't safe to visit. and unfortunately the attacks targeting tourist has happened before here in
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asia, one that many people would remember is the one in bali. do you sense concerns from the local communities about the impact that it could have on the tourism industry? imean, could have on the tourism industry? i mean, absolutely. we know that tourism is a source of livelihood for many sri lankans and the suicide attacks on sunday are not going to help their situation in the least. we know that of course bali bounced back after a number of years. the indonesian government made a concerted effort to try to lure tourist back. there's a lot of questions as to the sri lankan government — they appear to be in such disarray over these attacks themselves — whether they can make this concerted effort to try to lure back. at the same time we have had the travel advisories, the americans, the brits, the australians, the japanese have issued travel warnings and, most
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crucially, perhaps more damaging, china, which is a big investor into sri lanka's economy, they have issued a travel advisory and we know that the chinese are the largest outbound market and in terms of tourists they are everywhere, so thatis tourists they are everywhere, so that is truly damaging. sri lanka may need to get some help for insta nce may need to get some help for instance from the imf, that is what many instance from the imf, that is what ma ny a nalysts instance from the imf, that is what many analysts are suggesting may happen. thank you. of course, in the aftermath of the attacks, the government blocked social media sites like facebook and whatsapp to prevent the spread of misinformation. facebook responded, saying it was helping identify misleading content. let's turn attention now to boeing and the company's attention now to boeing and the compa ny‘s ceo will face attention now to boeing and the company's ceo will face tough questions from investors later this wednesday. the plane maker will report its first—quarter results and it has in the spotlight sense two fatal crashes involving the 737 max.
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the company has reduced production of the plane by 20% and deliveries will be on hold until the software fix is approved. last week the company boss said they have had more than 120 test flights to jake the new software but it is unclear when it will be ready for regulators. before the aircraft incident in march, the 737 max had an estimated $600 billion worth of orders and it was the most successful aircraft for the firm. moments after taking off, ethiopian airline pilot followed boeing procedures but couldn't stop the 737 max from crashing, killing all 157 people aboard. relatives of george kabau, an engineer on the flight, now the fourth family taking the plane maker to court. we filed a complaint on behalf of george
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kabau's parents in united states federal district court in illinois. his sister wants boeing held accountable. we cannot replace him and he cannot and shall not be replaced but we pray that by what has happened, my parents especially, and his siblings and loved ones, can use this to ensure safe travel for all. boeing admitted a failure in the jet all. boeing admitted a failure in thejet anti— all. boeing admitted a failure in the jet anti— stall system as a factor in the accident. dozens of families are selling it over 0ctober‘s lion air crash in indonesia, raising questions about the legal implications for the american aviation giant. here on wall street investors have questions for boeing. what will the 737 max crisis due to its finances? how much compensation will it pay airlines for the planes that have been grounded. what about the cost of fixing the planes? and, of course,
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what about the orders cancelled? jim corridor is a boeing analyst at cfra. we will see costs already for increased rnd and the software system putting in place and they stopped delivery of planes on order. what about boeing's long—term prospects? it's not an existential threat, it will be harmful, reputation damage, revenue and earning impacts for several years but boeing will be around for decades to come. all of that is dependent on the public‘s trust in boeing which has obviously taken a hit over the human fear and alarm now associated with it. let's now bring you up—to—date with other news making headlines — shares entry to have surged 16% after the social media giant announced a jump in users for the first quarter. the firm has more than 130 million
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users. it's as revenues rose 700 $90 million for the first three months of the year. the one regulatory not so impressed was president trump who accused the platform of political discrimination. speaking of president trump, he has had a busy 24 president trump, he has had a busy 2a hours on twitter. that is after he tweeted a response to reports that harley davidson was blaming the us-eu that harley davidson was blaming the us—eu trade dispute for its fall in first—quarter profits. the eu raised ta riffs first—quarter profits. the eu raised tariffs on american motorcycles to 31% after washington raised tariffs on european steel and aluminium. here is his tweet... french president emmanuel macron and japanese prime minister shinzo abe confirmed they will back the strategic alliance between renault and listen despite the controversy involving the former chairman carlos ghosn, who is injail in tokyo. ——
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nissan. they met on tuesday and added the alliance was crucial for the ties between the countries. here isa the ties between the countries. here is a story that is causing turbulence for cathay pacific's cabin crew. the airline has announced it will investigate reports that its staff have been stealing food, drinks and other items such as ice cream from the planes. the boss said it was unfair to blame employees before the issue was fully investigated. let's quickly show you the markets before we go. asian markets have started trading upjust we go. asian markets have started trading up just 0.5%. we go. asian markets have started trading upjust 0.5%. that is it for this edition of asia business report. thanks for watching. this is bbc news. the top stories this hour: as more families in sri lanka prepare to bury their loved ones, there are more questions about prior intelligence of sunday's bombings. sri lanka's president says warning
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on the attacks wasn't even shared with him and promises a shake up of security services. researchers in scotland have helped create a revolutionary new type of aircraft. phoenix is an unmanned aerial vehicle designed to stay in the air indefinitely thanks to a new type of propulsion involving helium. kenneth macdonald has more. she is called phoenix, she looks a bit like an airship, but airships don't have wings. it is a proper aeroplane that plays under its own propulsion although it has no engines, the central fuselage propulsion although it has no engines, the centralfuselage is filled with helium which makes it buoyant so it can ascend like a balloon and inside that is another bag which compresses on it that brings out from outside, compresses the air which makes the aeroplane heavier and then it descends like a glider. it is the first large-scale aircraft powered by variable buoyancy propulsion, switching
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automatically between being lighter and heavier than air makes it go forward. if we start this upjust now. you get to see the speed increase in the top. after universities in perth college campus, two wind tunnels have help perfect the aerodynamics. we want to see what our atmospheric conditions are like and what velocity is like to try and determine and get a benchmark of what things are going to be like, and from that we can predict what the behaviour and characteristics should be like. phoenix is a collaboration involving several universities, private companies and government agencies, getting all of the parts to fit and balance was a delicate job. pumps that compress the air are driven by a battery. that battery is quite heavy and is by solar panels on the wings and on the tail. so getting those in the right place to make sure the aircraft was balance was not trivial. the first flight the phoenix took flight indoors in portsmouth. later versions will be able to go anywhere. so what is the
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point? the point is to create an aircraft that can fly 20 kilometres up aircraft that can fly 20 kilometres up and do all the things a satellite can but much more cheaply. up and do all the things a satellite can but much more cheaplym up and do all the things a satellite can but much more cheaply. it uses a relay for telecoms or have a surveillance camera and things on it to monitor things like disaster relief or border surveillance, so it's got a few users. the advantage is that there are currently quite a few other options to do that sort of job but they tend to be more complex and more expensive machines. this by comparison is almost disposable. now the prototype has flown, the next step will be to build a much larger phoenix that can rise far higher and stay up there for as long as it is needed. kenneth mcdonald, reporting scotland, perth. we have lots more on our website and mike will be here at 2am in the morning. iam mike will be here at 2am in the morning. i am on social media. now on bbc news, sport today. hello. i'm tulsen tollett.
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this is sport today, live from the bbc sport centre. coming up on this programme: five—time champion ronnie 0'sullivan is dumped out of the world snooker championship by amateur player james cahill. in the asian champions league, sanfrecce hiroshima move top of group f, beating daegu fc1—0 in south korea. and alexander zverev‘s clay court season continues to disappoint as he's knocked out of the barcelona 0pen in the second round. hello and welcome to the programme, where we start with one of the biggest upsets in snooker history. five—time world champion ronnie 0'sullivan has been knocked out in the first round of the world championship byjames cahill. the 23—year—old had become the first non professional player to make it as far as the crucible, in the english city of sheffield, after three rounds of qualifying, and the result was anything
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