tv Asia Business Report BBC News February 3, 2020 1:30am-1:46am GMT
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during a terrorist—related incident in london. three people were injured by the attacker. 20—year—old sudesh amman had been released from prison within the past two weeks. officers say he had a hoax device strapped to his body. health officials in china have confirmed more than 2000 new cases of infection — bringing the total to 11 thousand. 56 new deaths have also been confirmed — bringing the total to more than 350. and this video is trending on bbc.com... the biggest night in the british film industry — the bafta awards has seen the world war one film — 1917 — come out on top with seven prizes. joaquin phoenix won best actor for thejoker. that's all. stay with bbc world news. more on our web site bbc.c0.uk/news and the news app. now on bbc news live to singapore
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for asia business report. china pump civilians into its economy as fears grow for the business fallout from the virus and markets opening lower after the new year. —— china pump sent the economy. the super bowl showdown. we look at the football digital future. hello and welcome to this monday edition of asia business report. we are starting with china today because it has put 150 billion yen, of additional cash into this banking sector to help protect it from the corunna operate front of a chinese
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market has just reopened after their closure from the lunar new year. —— coronavirus. we know that will closure was extended due to the outbreak and we have those numbers for you. we saw the shanghai in the sense in composite, to benchmark composites from china, they have both open much lower. at 9% lower at the open but let's take a look at three other businesses that are being affected. according to a nalysts, being affected. according to analysts, close to the other flights we re analysts, close to the other flights were cancelled by the end of january. with all of apple stores in china now close, it is estimated that 1 china now close, it is estimated that1 million iphone deliveries are delayed there and as we mentioned last week, starbucks is closed at around half of his 4000 branches in china. our business reporter mariko oi china. our business reporter mariko 0i is in hong kong with more. as i mentioned some of those markets have opened and we have been anticipating the open west of the chinese putting all of the stimulus into the market to try to mitigate some of the effects but we are saying this
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terrible bloodbath on both the shins and and the shanghai composite index is. indeed. both markets opening 9% lower, just imagine how much of a file i would've been without that stimulus measure being announced over the weekend. also here in hong kong, the index opening about half a percent lower. we saw a sharp fall just as they returned from lunar new year holiday last week. a mass amount of money being pumped in to the money markets. the total injection was 1.2 yen trillion, a whopping $174 billion but as you said, the net effect is about 22 billion us dollars. basically what the chinese authority are trying to do is avoid a credit crunch to ensure there is enough money for businesses to borrow and for bank lending to each other because any
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signs of a credit crunch would spook investors and without measures including the suspension of future trading overnight come in order to avoid a panic selling. in all of these measures will he show how a nervous patient was about the impact of this coronavirus outbreak on the market was up and they were trying to cushion the blow but as you say, quite a sharp fall nevertheless on the chinese market. thank you. also getting some numbers out for industrial output from china for december force of the numbers are not looking particularly good for the economy. certainly a bit of a slow death we are anticipating for china. will these measures the chinese have put in place based off of you have been speaking to will they be enough? i think that is the big question. i think the answer is still we don't know. we don't know just how big this epidemic might last. we have already been getting a lot of morning from various
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economies that china possum or growth to slow down to 4%. —— a lot of wording. because of the operate. last yea r‘s of wording. because of the operate. last year's 6.1% growth was already the slowest in nearly three decades. in any slow down a china's economy of course would have a ripple on effect elsewhere in asia and in the world. we have also heard from various companies announcing that measures to prevent the spread of the virus will have an impact on the economy activity as well. thank you for keeping up—to—date with this. all of this, the shanghai composite which we were talking about opening down about 9%, it is at the lowest since february of last year. also getting the numbers out to the indenture output from china for december and those numbers are also lower. the indian government is putting up the for—sale sign with plans to sell, sell, sell after is announced in the weekend but that it
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is double the privatisation target for the new year. what is for sale and how much? 0ur for the new year. what is for sale and how much? our business reporter during swing out with some of those a nswe rs during swing out with some of those answers from mumbai. what do you have for us? —— some of those a nswe rs. have for us? —— some of those answers. good morning. these announcements come on the back of the government offering 100% stake in the national carrier a few days ago. clearly he wants to keep the momentum going, not 28 to $30 billion, that if the investment target for this year. double of what it did last year and that too was significantly missed, it helps half of this would come through to an ipo in the life insurance corporation of india, which is really this big financial sector in the public in a market price set to the government so in some sense reflecting the desperation of the government finding itself and as a fiscal deficit widens and tax revenue narrows and the question is, is that
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really appetite in the market for this sort of liquidity to the primary root, also can the government execute this because divestment targets have been met only about two times in the last eight years. thank you for the update. let's stick with the budget. this weekend the government's finance minister, this woman right here, she also announced a nearly £40 billion injection for state funding for exploring farming sector assess a country grapples with its worst economic slow down in a decade. despite the move, he fell short of expectation for many as this report shows. the indian finance minister holding the economic future of india for the next year. the proposal to kick—start a slowing economy included besic, $40 billion in agriculture and schemes to help
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farmers. she was optimistic from her budget would revive growth. we have estimated nominal growth of gdp for the year 2020, 2021 on the basis of terms available at 10%. the opposition wasn't convinced. 25—year—old is sceptical. he runs a kitchen and i seen a 15% dip in business in the last two years because of the slowdown. that's what was happy with the government possible allocation of nearly $3.8 billion for overall commerce, including small and medium businesses like is, he had one concern. translation: there is no money in the market. there are nojobs. until people do not have the money to spend on site. the government has to do something aboutjob creation. and it will be difficult. the finance minister that announced the spending
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on education and infrastructure in order to createjobs. but on education and infrastructure in order to create jobs. but experts say it doesn't go far enough. there are many low hanging fruit that you could use to generate significant increases in revenue. we had proposed a wealth tax for the extremely wealthy, we had proposed you can text multinational. somehow the government seems unwilling to do any of those things because it wants to see the self as foreign investor from it. they're also high expectations that income tax would be slashed. help boost consumption. the finance minister did announce a new tech structure and at lower rates, but only for people who are willing to give up the current tax breaks. this budget was a tough balancing act for the government, the one hand meddling a massive deficit on the other, promising to spend on infrastructure projects to boost employment and increase consumption. the real challenge will be to raise adequate funds. the promises are made but the real work for the government begins not to
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bring the economy back on track. in other news the uk possibly foreign secretary dominic rob has insisted that the uk will not agree to follow eu rules and the upcoming post brexit trade talks. a britain and brussels will both give details on monday of what they want from the discussions in the art prime minister has as the two sides to avoid setting a rigid redline. let's talk about what is in the right now and that is all the asian markets as we mentioned at the side of the programme, the chinese markets have opened starkly lower after the lunar new year holiday, both the composite shanghai markets and the nations in composite index both the benchmark markets they both down at less percent of the up and down about 8% right now. we are seeing the hung say down just half a percent at the open but it is recovering somewhat root right now. we see seat losses for the nikkei. that is echoing don
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from wall street's close. we saw wall street at the worst performance since august last year. i should mention that the shanghai composite is at its lowest in a year, so it is fallen that much. i will increase. a lot of nervousness in the market here throughout the day, something we will be watching very closely, safe havens like the japanese yen are going up, go price as well. another one that investors are playing too. that is it for this show. thank you for watching. this is bbc news the top stories this hour. a man recently released from jail after being convicted of islamist terrorist offences has been shot dead by police after stabbing two people in london. as a new hospital is set to open in wuhan to treat people with the new coronavirus, there are growing signs the chinese
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government could have done more to contain the outbreak. let's return to our top story. the british home secretary priti patel has been speaking and said the government will announce plans for fundamental changes to the way people convicted of terrorism offences a re people convicted of terrorism offences are dealt with. first of all, all our thoughts are with the victims of this appalling attack, and also with their families and loved ones. also it is right that we pay tribute to the bravery of the police who were able to act very swiftly, and also prevent any other further acts of violence and to protect the public. and of course, alongside the police, our emergency workers were incredibly swift in terms of getting to the scene and providing support especially to the victim. can you confirm the suspect had been released from prison, having served time for terrorism related offensives,
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and that he was under police surveillance when this attack happened? well, there is a police investigation, rightly so, taking place right now. and this offender clearly had some history in relation to counterterrorism offences. it is right that the police are now investing any of that and looking into all that. but i think i should also just say that only two weeks ago, post the fishmongers' hall attack that took place in december, i announced a very clear package of measures basically all aimed at counterterrorism and counterterrorist offenders that we would effectively stop the early release, but also double their sentences, overhaul their licensing conditions, give the police the support they needed — so that was more support for counterterrorism and officers, and greater support for the victims of counterterrorism. and quite rightly, that was two weeks ago we announced that package of measures. we have also been very clear that we will be bringing forward a counterterrorism bill in ourfirst 100 days, and we will
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absolutely do that. but tomorrow, we will also be announcing some fundamental changes in addition to what we've already said that we will do to deal with counterterrorism and counterterrorist offenders. priti patel there. maryam moshiri is here at two o'clock. don't forget you can get in touch with me and some of the team on twitter — i'm @lvaughanjones. 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 this programme... we'll be live in miami — for the latest from super bowl 54 where the kansas city chiefs are taking on the san are taking on the san francisco 49ers.
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jose mourinho's tottenham beat pep guardiola's manchester city to boost their hopes of a top four finish in the english premier league. cristiano ronaldo stretches his scoring streak — equalling a club record — as juventus beat fiorenitina in serie a. welcome to the programme, thanks forjoining us. super bowl 54 is living up to the hype — and we've just seen a half show that's done the same. the san francisco 49ers are playing the kanasas city chiefs in miami, our reporter duncan mckenzie—mcharg is outside the hardrock stadium. what is the latest? good evening. the lady says theyjust had a kick out here in the second half, a very entertaining first half us up rippling to san francisco 49ers in the kansas city chiefs. the 49ers threw on the board first with a 30 ya rd ya rd threw on the board first with a 30 yard yard field goal from threw on the board first with a 30 yard yard field goalfrom robbie
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