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tv   Asia Business Report  BBC News  January 27, 2020 1:30am-1:46am GMT

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this is a bbc world news. us basketball star, kobe bryant, one of the game's legends has died in a helicopter crash. he was 41. he had a glittering 20 year career. the private helicopter he was travelling and crashed in california and burst into flames. his 13—year—old daughter was among the eight other victims. the lunar new year holiday will be extended to the second of february to help control the new coronavirus. an amazing story of survival amongst the tragedy of the earthquake in turkey. this baby was born just as the quake struck and the hospital doctor said both mother and baby are healthy. —— a hospital doctor. plenty more on the website
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and on the bbc news app. now live to singapore for asia business report. heightened alert. business is a spring into action to prevent the spread of the coronavirus during the lunar new year. brexit countdown. less tha n lunar new year. brexit countdown. less than a week but our businesses ready? good morning asia, hello well, it is monday and the start of a brand—new trading week. glad you could join us. trading week. glad you could join us. iama trading week. glad you could join us. i am a rico hizon. trading week. glad you could join us. iam a rico hizon. in trading week. glad you could join us. i am a rico hizon. in china, officials are extending the lunar new year holiday to help control the coronavirus. 0fficials
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new year holiday to help control the coronavirus. officials have warned the illness has spread faster than before. the longer this shutdown goes on, the bigger the impact on the world second—biggest economy. wuhan has 11 million people, i.6% the world second—biggest economy. wuhan has 11 million people, 1.6% of mainland economy. china's economy has been slowing due to trade tensions and estimations that growth could drop if there is a 10% fall in consumer spending because of the outbreak. that has got financial markets scared. as you can see here. some sell—off over the past few trading days before the lunar new year holiday. investors are bracing for long—term impact on the market. keepin for long—term impact on the market. keep in mind that the services
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sector has a larger bearing on the chinese economy now than what we saw backin chinese economy now than what we saw back in 2003 with the acro outbreak so back in 2003 with the acro outbreak so with that in mind, the numbers due out on january so with that in mind, the numbers due out onjanuary 3ist so with that in mind, the numbers due out on january 31st with so with that in mind, the numbers due out onjanuary 3ist with some forward—looking components, they will be key in determining how market sentiment will fare in the early pa rt market sentiment will fare in the early part of february. if this is the case, services being impacted, supply chains, trade, china is a huge trading partnerfor supply chains, trade, china is a huge trading partner for many asian economies egg it could have a knock—on effect? —— and could have. indeed. we have had cases reported in other parts of the world, in north america even. beyond this sentiment channel, markets will be looking at how this effects the real economy. we are set against a
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backdrop of a still fragile global economic recovery and if this outbreak becomes worse and extends beyond sentiment and hence the real economy, we could see the entire narrative being jeopardised. in the last quarter of 2019, we saw some of the economic data coming out of china sort of like turning the corner and then we had this phase i trade deal between the us and china being signed and everyone was hoping we would see more solid economic growth from the mainland in the first quarter but with these coronavirus this narrative will change. potentially. i coronavirus this narrative will change. potentially. lam hesitant to get ahead of myself. there is a definite, clear risk in the market. gold has been at elevated prizes. you see the yen strengthening against the dollar at the start of this week. we are moving forward
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with caution and i want to see the effects on the hard economic data and hence the january data this friday from china will be key. and hence the january data this friday from china will be keym you are living in india and your electronics comes from china, get ready for prices to rise. according to reuters, imports with more than 50 billion us dollars, from phone charges to furniture, will be hit by 10% tariffs. the big question is, why are we seeing this rise in tariffs? it is the all-important budget week in india and the finance minister will be presenting the budget on saturday but, ahead of that, lots of reports and hence suggesting that input duties could
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be rationalised and india could announce. . . be rationalised and india could announce... of right, we are experiencing some technical difficulties in mumbai. hopefully we will have him on the next show of asia business report. he is back. so arise in tariffs for several goods? absolutely, rico, and it is notjust gonna be on electronics but reuters reporting as many as 50 items, everything from furniture to candles and smartphones, could see import duties going up. in fact tariffs could go up to as much as $56 billion. 0ther could go up to as much as $56 billion. other media reports suggesting input duties could be rationalised on as many as 300 items. as you know, there has been
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growing protectionist rhetoric in india with the prime minister urging indians to buy local to prop up its slumping domestic industry and improve utilisation. there has been a stand—off with malaysia as well. if any of these hikes are taken up, in doubt‘s international trading partners will not be happy. absolutely, they would be disappointed. thank you very much. get brexit done was powerful slogan for borisjohnson get brexit done was powerful slogan for boris johnson during get brexit done was powerful slogan for borisjohnson during the election campaign but what exactly does it mean? many businesses are still confused how the trading partnership with the eu is likely to look after the 31st of january. 0ne of those businesses is a b cup, drinking cups for babies manufacturers. the chief executive
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still does not know what she should be doing in order to avoid any potential fallout from brexit. be doing in order to avoid any potential fallout from brexitlj be doing in order to avoid any potentialfallout from brexit. i am the founder of baby limited. we make that such make cups for babies and toddlers. around 80% of our sales turnover comes from businesses outside of the uk. in reality, readying for brexit has been pretty tricky. we keep receiving are you brexit ready bulletins, look at the checklist but the reality that checklist but the reality that checklist is not an awful lot of guidance. there is not much we can do because we do not yet know what it is going to entail. we do not feel massively supported by the communications that have come out. they all seem two and with a caveat, if you're not clear or need further
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help, please seek advice of your agent which makes me smile and slightly depressed because the reality is, not every small business has an agent. it is all very well for savage —— javid say what he says but it is outward you do not know what to repair with. we asked top women executives for their thoughts about how can we have more of them at the top? women need to given the opportunities, their talents need to be recognised and noted and companies need to provide the right environment. where women can thrive. i think it is important for organisations to truly develop the pipeline of female leadership at
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every level to unearth that talent and to mental females to be able to rise to those in leadership positions. the company get more women leaders and get gender parity they need to be given opportunities. there is not a shortage of capable, talented women but the reality is we may need to be given a seat at the table, have the opportunity to compete and also learn the fundamentals of the business. they can be institutional buyers through hirings that companies need to make sure that there are women and majorities in them so they hire a more diverse workforce. what companies need to do is send an audacious public goal and then track, measure and disclose how they are faring against that goal. that is how we change the paradigms. the young girls of today are the leaders of tomorrow and corporation should embrace a mentorship programme to bring those young female leaders of the table now. examples like greater across the world and let's put our
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arms around the leaders of tomorrow. —— greta. arms around the leaders of tomorrow. -- greta. let's have a quick look at the asia—pacific markets open for trade. most of them are still closed due to the lunar new year. the nikkei 225 in the red. this is after an increase in new coronavirus cases with concerns of its impact on the global economy. thank you for investing your time with us. i am rico hizon, see you again soon. this is bbc news, the top stories: american basketball legend, kobe bryant, has died in a helicopter crash in southern california. he was 41. eight crash in southern california. he was
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a1. eight others, including kobe brya nt‘s 30—year—old daughter were killed when the helicopter crash. "13 killed when the helicopter crash. ——13 —year—old. are welcome decision by the resignation of glenn phil taylor... every year since the granville fire, people come to remember those who have lost their lives. they hoped the public enquiry that has been set up the public enquiry that has been set up will provide answers as to how the fight took hold but now fresh concerns about the process from survivors and the bereaved after an enquiry panel member reside with hearings about to resume. benita meier who was an engineer was going
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to provide input but she had links to provide input but she had links to a company supplying cladding to the teller block. these were the principal reason for the rapid spread of the fire. maher said her former role had caused serious concern to the families. i am confident that, had i continued in my role, i would have approached my work with complete independence and impartiality however i recognise and respect the depth of feeling about my appointment. it is highly u nfortu nate my appointment. it is highly unfortunate this has now happened because survivors should not have been put in this situation. the glenn fell united group welcome to the resignation of benita mahra but accused the government of failing to carry out checks beforehand.
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james reynolds will be here at the top of the other with 20 more on attributed to kobe bryant, the american basketball legend who has died at the age of a1 and these are live teachers for the united states. that is the staple centre where tributes are being paid to an american icon and basketball legend who died in a helicopter crashjust before 10am local time. now it is time for sports today. hello there, and welcome to sport today, where we start with the news you have been hearing in the past hours, but five—time nba champion
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kobe bryant has died in a helicopter accident. the a1—year—old former la leica was one of nine people on board, including his 13—year—old daughter. —— la laker. nobody survived the crash. a short time ago nba journalistjoe morgan survived the crash. a short time ago nba journalist joe morgan told survived the crash. a short time ago nba journalistjoe morgan told me of the impact the player had on him and the impact the player had on him and the city of los angeles. kobe bryant was in my living room basically every night of the week. i watched 82 games a year for every night of the week. i watched 82 games a yearfor him, for 20 yea rs. 82 games a yearfor him, for 20 years. when i found out the news, i said, no, obviously but can't be true, there is no way. and i will say, i got incredibly emotional. it came up, it welled up inside me. 0bviously came up, it welled up inside me. obviously i didn't know him on a personal level, he played a few yea rs before i personal level, he played a few years before i was around and doing media stuff. but it hurts. it really feels like you lost part of your childhood. because he was in my living room and i watched him every game andi living room and i watched him every game and i ended up having so much respect for him in the end because
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of the way she played the

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