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tv   Asia Business Report  BBC News  December 6, 2019 1:30am-1:46am GMT

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of representatives announced articles of impeachment against him. democrats say the president abused his power for personal political gain. but donald trump says he will win a trial in the senate. there's been a sharp rise in the number of cases of measles worldwide. the world health organization says nearly 10 million people were infected last year by a disease which can be easily prevented by vaccination. and this story is trending on bbc.com. new zealand's national airline says it is trialling edible coffee cups in a bid to reduce the amount of waste on board its planes. the cups are made from vanilla —flavoured biscotti and are apparently leak—proof. that's all. stay with bbc world news. more on our web site
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bbc.co.uk/news and the news app. now on bbc news live to singapore for asia business report. opaque is about to announce further production cuts just as saudi ramco‘s confirmed to be the world's biggest share sale ever —— opec. japan unveils massive stimulus measures but is further spending a goodidea measures but is further spending a good idea given its massive debt? hello and welcome to this friday edition of asia business report, i'm sharanjit leyl. edition of asia business report, i'm shara njit leyl. we edition of asia business report, i'm sharanjit leyl. we begin with oil prices, which are trading at two—month highs energy markets have been on edge as opec plus russia are
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due to announce their decision on further production cuts after their two—day meeting in vienna. the group has been controlling output in the last few years to keep prices buoyant, and it's tough at toledo, saudi arabia, has been pushing for further cuts to keep them high ahead of saudi aramco‘s stock market debut —— it's de facto leader. they confirmed the share price and the ipo will be the biggest in history. here's sameer hashmi. it's been a struggle for them to get this ipo off the ground, there's been obstacles, low oil prices, and you saw ramco‘s factories getting attacked two months ago and there we re attacked two months ago and there were a lot of doubts about whether they would be able to launch the ipo but they've gone ahead. this country essentially relies on oil, oil, oil and what the current prince, binali yildirim, said while raising this money he wants to invest and
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modernise the economy and create new jobs to make the saudis less reliant on oil. that is why this fundraising is really critical for them. nonetheless, we are watching opec. there hasn't been a decision from them as expected, and that is pushing oil prices higher and i asked an oil analyst what she thinks has happened. the decision was expected to be out around six hours ago and it looks like it will now come out on friday sometime vienna time. the word on this is the ministers are looking to deepen their existing cuts, one point to million barrels per day, to about 1.7 million barrels a day but the devil will be in the details i write 110w devil will be in the details i write now the market is in a bit of suspense. now the market is in a bit of suspense. we need to see from where the deeper cuts are going to be made from. their previous quotas or from the actual supply that they are putting into the market? as you say, the market is on tenterhooks so what does this mean for oil prices? we've already seen prices climb
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considerably over the past 24—48 hours on the anticipation that opec is going to remove more supply from the market. i guess we will see another bit of movement and volatility around the time the decision comes out and the market gets into the nitty—gritty of it. generally speaking, i think opec will try to put out a decision that is bullish for the market, so we might see prices supported around current levels. with prices rising, that would fit into saudi arabia's plan. they are the opaque defect toledo and they wanted higher oil prices to support their plans for their saudi aramco ipo. have they pulled it off? the offering is pretty much done and dusted in terms of it garnering a bit of interest. it has been very local. they pulled off international roadshows, it is
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all from saudis in the retail tranche and from institutional investors in the neighbouring arab countries. i think they have managed to make it a limited success. the eyes of the market are going to be once the shares start trading on the domestic stock exchange and how they perform and we will see that after december the 11th. in other news now, the news agency bloomberg was promoting its owner michael bloomberg's run for the white house until the financial times reported about it. users of bloomberg terminals were funnelled to his 2020 campaign website by writing "mike". the newsagency has changed it, since calling it an oversight. let's turn to japan, as the government unveils stimulus measures worth about $120 billion to boost the world's third largest economy. why now? well, for one, the hike in the sales tax in october led to a
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dip in spending and also the government is trying to get ahead of an anticipated slowdown after next yea r‘s an anticipated slowdown after next year's summer olympic games in tokyo and there are signs the trade war between the us and china is impacting japan adversely. it is a trade —dependent economy and in october we saw exports tumbling at the fastest pace in three years. will this add to its already huge debt? look at this chart, it shows the ratio of various countries pass debts against the size of their economies —— countries' debts. it is more than double that of the us. so is this a good idea? i put that question tojohn, is this a good idea? i put that question to john, an is this a good idea? i put that question tojohn, an expert. they had a high ratio, as your chart likely shows, for a long time and it hasn't caused crisis yet. their fiscal deficit this year is going to be about 2%, 3% of gdp so it's not a
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big deficit by global standards. certainly japan is following the global trend of increasing fiscal spending because monetary policy is basically... has done as much as it possibly can do. it's the last resort to bump up growth, especially, as you mentioned, for the post—olympic period. many listeners might know that after the olympics, economies can often struggle in the countries where they are hosted, so this will provide an extra boost. why are they raising spending after having raised the sales tax? it's a little bit counterintuitive, isn't it, because they are basically raising spending to try to make it easier for consumers after making it harder for them after raising the sales tax?m isa them after raising the sales tax?m is a bit of give with one hand and ta ke is a bit of give with one hand and take away with the other. certainly the sales tax is permanent so the
quote
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effect of that has a short—term effect of that has a short—term effect on consumer spending and they wa nt to effect on consumer spending and they want to soften that blow notjust this year but next year. john vail speaking earlier. to indonesia, because jampacked ja ka rta to indonesia, because jampacked jakarta streets could see fewer bureaucrats within five years and the country plans to start moving the country plans to start moving the entire government from the mega city to the less populated island of kalimantan in the archipelago nation. the idea gathered steam this year after the re—election of presidentjoko widodo and the move is one other low—lying asian cities like mumbai and bangkok might emulate as global warning and income inequality collide, a topic under discussion at a two—week global climate meeting in madrid that started on monday. i asked an expert if indonesia can pull it off. i think it is achievable. the initial target is to have the first
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movement in five years time but after that it would be a staggered movement over the decade ahead. it would create the opportunity for indonesia to develop its first smart city, which it really needs, given its urban infrastructure, particularly in jakarta. i its urban infrastructure, particularly injakarta. i think the new city would give a lot of potential competitive advantages for indonesia to compete in advanced technology industries. now, when you think of a lotus supercar you might imagine something... obviously sporty, high octane and it is driven by the likes of someone like james bond in the 19705. well, think again, because the iconic car is now going electric!
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this car is the first all british electric hyper car. it will be the most powerful production car in existence when it goes into production next year. what that does do is it gives us unbelievable acceleration, so we can 90, unbelievable acceleration, so we can go, you know, from 0— 300km/h in significantly less than nine seconds. working with partners to develop ultrafast charges, which means we can charge this same car in less than nine minutes to 100% and about six minutes to 80%.
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so everything on this car you will see hints of it in future lotuss in future cars, more affordable sports ca rs. let's look at those markets, because in asia, the nikkei 225 gaining and the all ordinaries is up, the hang seng has just opened. the all ordinaries is up, the hang seng hasjust opened. they the all ordinaries is up, the hang seng has just opened. they are taking comfort in president donald trump's rhetoric, saying essentially the talks between the us and china are moving along. that's it for the show. thanks for watching. this is bbc news. the top stories this hour: donald trump has hit back at democrats in the house of representatives, who have announced articles of impeachment against him. he says he will win a trial in the senate. the us says it's charged leaders
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of an alleged cybercriminal group based in russia with links to moscow's intelligence services. the organisation, known as evil corp, is alleged to have stolen tens of millions of dollars worldwide. mental health patients in england desperate for help are being left in limbo even after they have started treatment that's according to research carried out by the bbc. dominic hughes reports. from day to day, most of my governing thoughts were around about whether i should make it through the next day or not. paul has struggled with his mental health ever since he developed post—traumatic stress disorder, following a violent attack while working as a police officer. he relies on talking therapies provided by the nhs, but sometimes the wait for treatment to begin has been too long and dangerous. when you're actively that unwell and all you're after is help and support with what it is that you're going through, the symptoms i was experiencing. just a delay of several weeks
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or a month or six weeks is literally a lifetime for people when you're acutely unwell. and i have no doubts that with the right timing and the perfect storm of events, it could've been a very different story with my own outcomes. as demand increases, the talking therapy service is a victim of its own success. last year, more than one million people in england were referred. the first appointment is, broadly speaking, just an assessment. it's not until the second appointment that the real talking therapy work begins, and it's here that people are facing hidden waiting times. on average, the wait is longer than two months. but some people, around one in six, that's 95,000 patients, are having to wait longer 90 days. what this evidence is showing is that you're getting people in the door, and then they are having to wait a significantly longer time than they should be, in order to get that next step of treatment. and that's where it's really problematic, because, obviously, the longer you wait,
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the worse your condition can become, the longer your recovery time can become. each part of the uk has its own talking therapy service and waiting times can't be compared directly. nhs england is now putting more money into mental health, including training more therapists. and it says hundreds of thousands of people like paul are being helped to overcome their problems. i was lost in the forest, i no longer in the forest, but i'm not out of the woods yet. i still have bad days, but, equally, i can see a future ahead of me. and that's good, that feels really good. dominic hughes, bbc news. now on bbc news, sport today. hello, i'm chetan pathak and this is sport today, live from the bbc sport centre. coming up on the programme: 9 matches without a win — arsenal are beaten in freddie ljungeberg's first home game in charge in the english premier league. condemnation from inter milan and roma for this headline — as an italian newspaper
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defends its front page. and ding junhui beats ronnie o'sullivan to set up an all chinese quarter—final at the uk championship. welcome to the programme, thanks forjoining us. there was no fairytale first home game in charge for freddie ljungerg — the arsenal interim boss has seen his side beaten 2—1 at home by brighton in the english premier league. nine games without a win is arsenal's worst run since 1977 and they remain ten points off the top four. alistair bruce ball was watching at the emirates: triton celebrated the first ever away against arsenal and it is abundantly clear that this will not bea abundantly clear that this will not be a quick fix for whoever gets this job full—time. visitors deserve their half—time

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