hello and welcome to asia business report. i'm monica miller. welcome to a new week on asia business report and we too, are keeping a close eye on how markets might react to the aborted armed mutiny in russia over the weekend. this is even as mercenaries withdrew from a southern we see oil prices rising this money. financial markets have been broiled since russia invaded ukraine. in february of 2022, which also caused oil markets than to spike. earlier, i spoke toa to a representative of capital markets to get his thoughts on how energy markets could move. looking at the future's markets, we don't see too much action, although it is quite important to emphasise that russia plays a very important role within the cartel, so if these tensions, if they escalate, if they change into something a bit more

meaningful, i think then certainly we will have a huge reaction in the market. but for now, i don't really see anything more meaningful coming into the market. so anything more meaningful coming into the market.— into the market. so we have reached the _ into the market. so we have reached the halfway - into the market. so we have reached the halfway point i into the market. so we have reached the halfway point of 2023. how would you describe the health of the global economy?— the health of the global econom ? . v . economy? that's an intriguing question- _ economy? that's an intriguing question- i — economy? that's an intriguing question. ithink— economy? that's an intriguing question. i think throughout l question. i think throughout this year, central banks and lawmakers and policymakers have been very much focused on taming inflation, bringing inflation under control. and a lot of these banks have failed to bring inflation to the target level, which is still running quite high, especially in the uk, the cost of living crisis is a huge issue, and inflation data from last week has already shown that there is no easiness or ease off in the data for the time being, but having said all of those pessimistic things and then pointed those factors, i'm a bit more optimistic going into

page two of this year because i think inflation is going to come closer to central banks target whether we are talking about the federal reserve were talking about the ecb. 0f talking about the ecb. of course, inflation isn't that much of an issue when it comes to the pbo see over in china. speaking of china the latest data showed travel spending during the dragon boat festival holiday last week, fell short of pre—covid levels. domestic tourism revenue was about 95% of the amount recorded in 2019, even though more trips were made. we've been seeing signs of a slowdown in the chinese economy — and notjust on the consumer level. earlier, i spoke with julian evans—pritchard of capital economics, and he explained the biggest challenges beijing is facing. imean, i mean, essentially china's reopening recovery has fizzled out much earlier than people hoped, and that reflects on the one hand a very difficult external environment, experts

are not doing well, but in particular i think for china, significant domestic headwinds from the property sector, from the loss of confidence among households and private businesses, and that is making it very difficult for the economy to regain its previous momentum, which is why we are seeing the recovery level off at the growth rates which pre—pandemic would have been seen as very low. it maybe that's just the new normal that the chinese economy now faces. in some of your research, you are saying that you are a bit more optimistic about the rest of 2023. why? i more optimistic about the rest of 2023- why?— more optimistic about the rest of 2023. why? i think sentiment has swung _ of 2023. why? i think sentiment has swung from _ of 2023. why? i think sentiment has swung from extreme - of 2023. why? | think sentiment l has swung from extreme optimism to the point where we are now entering a period of extreme pessimism. you look at many of the consensus forecasts for chinese growth of around 5% this year, that would imply that the chinese economy barely grows for the rest of the year. that is certainly a possibility. it's a risk. he

mentioned the tourism data for the dragon boat festival, that was pretty disappointing. 95% of pre—pandemic levels, whereas in early may during the labour day holiday, we were back at 100 step so it seems like the recovery there is going to be very small step i don't think we should give up hopejust yet. they do have some stimulus measures that they could potentially roll out. the labour market isn't quite as weak as it looks if you just focus on the youth unemployment rate figures which are very high. if you look at the overall unemployment rate, it's actually slightly below its pre—pandemic average. so it wouldn't take too much policy stimulus to push it down to levels that would be consistent with an acceleration in wage growth, which could generate some positive spill—overs and approve some of those competent tissue. went completely throwing in the towel, but it is certainly not going to be the rates that we were use to prior to the pandemic.

we'll be taking a deep dive into the chinese economy this week, to look at what's stalling the much anticipated rebound, and what policy makers are doing to spur growth in the world's second biggest economy. the usjustice department has filed criminal charges against four chinese chemical manucturing companies and eight individuals. they've been accused of illegally trafficking the chemicals used to make fentanyl — a painkiller that has fuelled an opioid crisis in the country. according to the doj, the companies sold chemicals to a cartel in mexico, which has flooded the us with the drug. this is the first time washington has tried to prosecute any of the chinese companies responsible for the manufacturing process. china's foreign ministry has accused the us of using pretexts to sanction and prosecute chinese companies and citizens. old cars are being given a new lease of life, thanks to a scheme by online marketplace ebay which verifies parts taken from vehicles destined for the scrap heap. the website says the move will help consumers notjust save money, but offset part of their carbon footprint as well. paul carter visits a recycling plant in the uk to find out how this works.

now, we are all familiar with production lines in factories, but here is something a little bit different. this is a d production line, and it can dismantle entire cars from scratch down to its component parts in just over one scratch down to its component parts injust over one hour. and i'm here to follow one car on its end—of—life journey. here at uk's most advanced rivers production line facility, 120 cars are received daily to beacon's deconstructed, packed and purchased online within hours. using a 13 step process, the company aims to recirculate as

much as possible back into the economy. this even includes draining fluid such as oil and petrol which is resold to staff at a discounted price. robotic arms help the mechanics stripped the car for a specified parts.- stripped the car for a specified parts. stripped the car for a secified arts. ., ,., specified parts. into the box into the warehouses - specified parts. into the box into the warehouses and - specified parts. into the boxj into the warehouses and are sold does not manufacture parts go straight back to the remanufacture. the materials remanufactu re. the materials get remanufacture. the materials get recycled. we basically recycle a car to greater than 95% of its body weight. hat 9596 of its body weight. not onl is 9596 of its body weight. not only is this _ 9596 of its body weight. not only is this whole _ 95% of its body weight. not only is this whole facility operated by solar power, but also — operated by solar power, but also that _ operated by solar power, but also that solar energy operates our forklift trucks, or electric— our forklift trucks, or electric baler which crushes the vehicles and the company is in a transition of moving into 100% — in a transition of moving into 100% electric. as in a transition of moving into 10096 electric.— 10096 electric. as consumer interest in _ 10096 electric. as consumer

interest in sustainability - interest in sustainability grows, there is likely to be increasing demand for reused parts like this one rather than purely recycled ones. and as you can see from the scale of this facility, there is already quite a lot of it. but one barrier people face is being sure of the quality of reused parts. as ebay is one of the largest online automotive marketplaces, it they've partnered up with industry bodies to develop the vehicle recyclers association certification to help consumers buy in confidence. the certification to help consumers buy in confidence.— buy in confidence. the big thin . buy in confidence. the big thin is buy in confidence. the big thing is it _ buy in confidence. the big thing is it is _ buy in confidence. the big thing is it is completely i thing is it is completely independent of the industry. so it is an outside body looking at it. and what it is commits a verification that you operate to a certain standard. it was developed because we needed to have more professionalism in the industry. so by having providence, knowing where that prior to combat second—hand part came from, the car that came from and also ensuring it's not a stolen part gives the insurance company satisfaction that they can then fit that part. we do have an

appalling situation with part shortages in general. many cars are off the road for a long time waiting for parts. and if a second—hand part, recycled green reclaimed part is available immediately, why not have that fitted and get yourself back on the road? last month, yourself back on the road? last month. ebay — yourself back on the road? last month, ebay relaunched the certified recycled portal, featuring certified recyclers like charles trained to make it easy for people to find same quality parts as the one their car is resold with. is quality parts as the one their car is resold with.— car is resold with. is two and half thousand _ car is resold with. is two and half thousand what - car is resold with. is two and half thousand what we - car is resold with. is two and half thousand what we call i car is resold with. is two and i half thousand what we call auto treatment facilities in the uk, not all— treatment facilities in the uk, not all of— treatment facilities in the uk, not all of those facets the neck specialise in removing the parts _ neck specialise in removing the parts in — neck specialise in removing the parts in the vehicle, a lot of them — parts in the vehicle, a lot of them will— parts in the vehicle, a lot of them willjust scrap the car and — them willjust scrap the car and sell— them willjust scrap the car and sell it for medal value. and — and sell it for medal value. and for— and sell it for medal value. and for customers who can't necessarily afford to buy brand—new parts to keep their cars— brand—new parts to keep their cars on— brand—new parts to keep their cars on the road committees parts — cars on the road committees parts of— cars on the road committees parts of parts allow them an opportunity to keep their car running _ opportunity to keep their car running. fits opportunity to keep their car runninu. a , opportunity to keep their car runninu. ~ , , ., , running. as consumer attitudes towards the _ running. as consumer attitudes towards the second-hand - running. as consumer attitudes i towards the second-hand market towards the second—hand market are changing, so is the industry. instead of being the

sort of place where cars come to die, facilities like this one are getting then a new lease of life. a reminder of our top story. keeping an eye on oil markets following the aborted armed mutiny of russia over the weekend. we are seeing signs of oil prices to trade a little bit higher here in asia this morning. that's all we have for you on this edition of the programme. i'm monica miller. thanks for watching. meet the oak crew for the journalist who first heard of a bird attacking long haired locals. it didn't take long to find proof. me and my colleague ana, who has long hair, which is obviously what the crow goes for, we went up and saw if the crow would go

for her and within seconds itjust swooped on top of her head. it's the talk of the town in this part of london, dozens of people with their own terrifying experience. i knew they were attacking people, but they're attacking women. women with long hair. so i thought i was pretty safe. and then suddenly there was a thump on my back, a really hard thump. and i thought was that. and i saw it was a crow. something kind of like picked my hair from the back. and then when i turned round, there was nothing. and then it happened to me, like, i don't know, five times maybe. and you kind of feel you become delusional because there is literally nothing going on. and then, yeah, at some point i realised it was a, it was a black crow. there are around a million pairs of carrion crows in the uk and although people in gospel oak are worried, experts say that they're simply protecting their young during nesting season. they're hyper vigilant. and it might be that in this case they're just kind of overinterpreting the appearance on their territory of a woman with long hair as a threat. and so they're reallyjust try and defend themselves. they don't mean they're not attacking. crows aren't aggressive towards humans. they're not attacking

for no reason at all. bringing you different stories from across the uk. in a school in southwest london. a surprise is about to take place, starring will poulter. he's just starred in the marvel blockbuster guardians of the galaxy iii. but he's here today because of his sister. today is national

thank a teacher day. i've decided to surprise my little sister and thank her. like many teachers, she is something of an unsung hero and she takes on a huge responsibility. it's up to pupils, family and friends will take the time to say thank you. for friends will take the time to

say thank you.— friends will take the time to say thank you. for more stories from across _ say thank you. for more stories from across the _ say thank you. for more stories from across the uk, _ say thank you. for more stories from across the uk, head - say thank you. for more stories from across the uk, head to - say thank you. for more stories | from across the uk, head to the bbc news website. hello, i'm lizze greenwood—hughes, from the bbc sport centre. coming up on the programme... coming up on the programme... the young chinese rookie — the young chinese rookie — ruoning yin wins the women's ruoning yin wins the women's pga championship. pga championship. king of queens! king of queens! carlos alcaraz wins his first carlos alcaraz wins his first title on grass and regains title on grass and regains the world number one ranking the world number one ranking ahead of wimbledon. ahead of wimbledon. and the st louis cardinals and the st louis cardinals fight back to beat chicago cubs and draw the mlb london series. was level with japan's yuka welcome to the programme. fight back to beat chicago cubs in her rookie year, has won the women's pga championship — her first major title. and she did it in style with a dramatic victory on the final round in newjersey, which had

been delayed for bad weather. the 20—year—old ruoning finished tied 11th.