tv Asia Business Report BBC News May 20, 2019 1:30am-1:46am BST
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exit polls from india's general election suggest the current prime minister, narendra modi, is set to win a second term in office. mr modi's bjp party has welcomed the predictions, pointing to their increased majority of seats in parliament. the official count doesn't begin until thursday. google is cutting huawei from using some of its mobile services. the block would mean the chinese tech firm losing security updates and technical support. and this video is trending on bbc.com... harry and meghan have released new photos on instagram, to mark the first anniversary of their marriage last year. the royal couple thanked their followers for "all the love and support from so many". that's all. stay with bbc world news. and the top story in the uk: jeremy corbyn insists labour
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will not support the government's brexit legislation, despite theresa may promising "bold" changes. now on bbc news live to singapore for asia business report. hanging up on huawei. google says it. the firm using some of each smart products because of us government restrictions. steady as she goes — japan economy arises as tax increases will go ahead. welcome. the us technology giant google is cutting off huawei from using some of its mobile services.
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access to security updates and technical support and no more popular apps such as youtube and maps. it effectively banned huawei from operating in the country, the us government. huawei has always denied this. some say google‘s move isa denied this. some say google‘s move is a big blow for their global ambitions. it has been challenging for markets and for people watching the situation to try and determine exactly how these us — china tensions will work with huawei and a blacklist would be final. if this is gonna be the response, it will be difficult for the business outside of china and how they bring their services to the world, essentially. it is difficult for its call mobile
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business. if you look at what they are trying to do anything the sg space, and be a real leader internationally, it will be a thing that slows the growth of that business mobile. if mobile is the forefront of how we interact with consumers it will be a serious blow. japan's economy has continued to grow at a steady pace in the first three months of this year. the third biggest economy grew at 2.1%. we are joined from an expert. what do you make of these numbers? it is a surprise but very much pushed by the spending in housing starts. the focal point is corporate spending.
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there is a trade friction taking place between the us and china and thatis place between the us and china and that is one of the reasons why japanese corporate are more likely to withhold spending. especially considering that excessively conservative nature. you mention the china— us trade war, rather surprising these figures do not show any impact that it is inevitable that, at some point, japan will be affect. how so? not only from a direct political point of view but from a geopolitical point of view, we are fairly close geographically speaking with china and tension would cause conservativism, especially on the trade site and that would be negative for countries like japan. we have also been talking about the sales tax hikes
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and there is no change planned. we know in the past this has had a devastating impact onjapan‘s economy. i think this is a very important point. let's not forget that last time when we raised that, nobody, including myself, would expect this fragility in the consumption behaviour so i can see the government becoming touchy about this but let's not forget our debt of gdp is above whenjapan had wobbled to back in the 1940s and so we have to show to the world that we are trying to turn the tide around and show discipline. this is one point where the government is straight scratching their heads. we have some things on the horizon such as the tokyo olympics. how is the government gearing up to all of those things? a lot of benefits have
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been enjoyed by many of the corporations and industries, particularly in construction and distribution, but we are likely to see a backlash, unfortunately, and u nfortu nately see a backlash, unfortunately, and unfortunately that is one of the negativity is that the government is bracing for, particularly after 2020. thank you for speaking with us. 2020. thank you for speaking with us. australians could be in line for a huge cup in income stakes as scott morrison gets sent for another turn in government. he is on the cusp of getting a majority which of will allowing to push through tax cuts. the tax cuts are not however a foregone conclusion. we will have to see the make of parliament. it is not the lower house of representatives, there is also the senate that will need to approve what scott morrison is proposing. now it seems that we will get some
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tax relief for low to middle income earners. that is more than likely going to go ahead and that will provide sunburst to consumers at a time when consumer spending is looking quite lacklustre but the bigger tax cuts, in a couple of yea rs bigger tax cuts, in a couple of years times, there is some question marks over that and that would be the bigger cost to the government's bottom line. if the government can afford it or not, that will depend on commodity prices and the labour market. commodity prices have held up market. commodity prices have held up quite well of late but the global economy is looking more shaky and the labour market may not looking as positive as well. you mention the global economy, the outlook of commodity prices and other things, lots of concerns for australians, particularly this new government.
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what will they tackle first in terms of economic challenges? well, i think more than likely it is going to be steady as she goes, really. i suspect in terms of policy, the impact of policy in helping the economy, i suspect the onus is going to be on the central bank once again, in terms of providing that boost to the broader economy. i think the pressure will be on them to lower interest rates because i suppose in the near term, the government is providing that support to consumers but... and also through infrastructure spending, that is also another positive but is that enough to offset some of the headwinds? we have a housing
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downturn, the global head went as well. voting has ended in india's mammoth general election and regardless whether the exit post aright suggesting that narendra modi is on course to win, the economy has had a win because the exercise is the most expensive. 8000 candidates. 500 45 cents, 900 million eligible voters — india's general election could cost $7 billion, topping the $6.5 billion spent on the us elections in 2016. just getting so many people to the polling booth is expensive business but where does the rest of the money go? it is illegal but politicians are known to hand out free visit to voters to
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influence them or to increase china. politicians often get creative with their gifting options. yes, even chickens. goods and cash worth $1186 million have been seized by the election committee. to confuse voters into splitting the vote, parties nominate candidates with the same last name as the front—runner. in 2013, for example stop but finding these candidates cost a lot of money. there has been an increase in demand for bullet—proof armoured cars. customising these cars could cost a nywhere cars. customising these cars could cost anywhere between $600,000 to $5 million. political parties have also been accused of booking private jets and helicopters months ahead of the election just so that opponents cannot get around the country. while
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there is a cap on how much parties can spend, there is a free hand for others. let's take a look at the asian markets and how they are reacting to all the news we have been telling you about. japan's mckay is higher. —— nikkei. gains in australian all ordinaries. also that election victory for scott morrison. that is it for the show. thank you for watching. this is bbc news the top stories this hour: exit polls in india suggest prime minister modi is on course to win the general election. his bjp party welcomes
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the predictions. days after the us announced it was blacklisting the chinese tech firm. rail passengers are being advised to check before they start their monday morning commute. it's the first working day after the introduction of a new national rail summer timetable. train companies say they're making every effort to avoid the chaos of last year's shake—up. our business correspondent katy austin reports. train companies are adding new services each year to provide for an increasing number of passengers and boost the economy. today's timetable shake—up makes space for 1,000 additional services across the country. but these changes are on a far smaller scale than last may. then, a huge overhaul of timetables resulted in chaos for passengers, on the northern and govia thameslink networks in particular. rail operators will be monitoring this summer's timetable change carefully and say they will respond quickly to any problems, adding that extra staff are on hand
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to support passengers. train companies and network rail have emphasised that they have learned lessons from what went wrong last year and have worked together to put those lessons into practice. they highlight the new winter times introduced in december, which were deliberately scaled back, as a successful example. the group representing passengers says those paying to travel deserve this time round to go smoothly. we'll know by the end of the morning commute on monday. that's the acid test when it is seen whether it works or not. sunday is a bit of a trial run. monday morning is d—day for commuters. let's see what happens. we'll be watching on behalf of passengers, seeing what's happening and how good the information is in particular. last summer's rail chaos led to apologies from the transport secretary and an official enquiry. the disruption is still fresh in the minds of commuters, who will be expecting a far less stressful experience
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when they return to the network in their millions on monday morning. almost 70 flights to and from manchester airport have been cancelled because a power cut prevented the refuelling of planes. the problems, which began earlier this evening, have been blamed on a power surge. many travellers said they'd been waiting for hours on planes or in the terminal buildings. now on bbc news sport today. hello, i'm gavin ramjaun — and this is sport today, live from the bbc sport centre. coming up on the programme: brooks koepka has won his second pga championship ina row, but it was a far from convincing final round. vincent kompa ny ventures into management — the man city captain becomes player—manager at boyhood club anderlecht in belgium.
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and rafa nadal passes his toughest test before the french open, with victory over world number one novak djokovic in rome. welcome to the programme. brooks koepka successfully defended his pga championship title on sunday, finishing two shots clear of dustin johnson on eight—under—par, despite carding a four—over—par final round 7a, in testing conditions at bethpage black course. paul frostick was watching. it was supposed to be a comfortable march to victory for brooks koepka but there was still room for drama during sunday's final round. the man chasing him was justin during sunday's final round. the man chasing him wasjustin dunstan, the 7/ advantage at the beginning of play suddenly looked in danger. he
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