tv Asia Business Report BBC News June 27, 2023 12:30am-12:45am BST
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as we've been hearing on the bbc, russian president vladimir putin has broken his silence following a 2k hour mutiny in the country over the weekend. he said his military would have crushed the uprising anyway. the rebellion led by the leader of the paramilitary group wagner had marched on moscow over the weekend sparking fears of unrest. we haven't seen much fallout from that in the oil markets though remember, russia is one of the largest crude producers in the world. oil prices edged up a little higher on monday but it seems like investors are taking a wait and see approach... to see how events play out. over to china, and the northern port hub of tianjin in particular because that's where business leaders are gathered for the world economic forum's summer davos the first one in 3 years due to the pandemic. it also comes at a crucial time for china it's looking
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to boost foreign investments in the country as its own economic engine slows. for clues on what we can expect... mattie bekink of the economist intelligence unit spoke to us. i think one of the reasons that this meeting and the stream of executives and world leaders turning to china in the last few months since the very surprisingly exit from the zero covid and the reopening is because there has been a perception gap that has only widened in the three years that china was close. but i mean by thatis china was close. but i mean by that is the perception of china from outside even those who have businesses here and for whom china is a very important market and the lived reality on the ground. that is true anywhere in the world but i think some of the geopolitical tensions and confusion during the pandemic. particularly contributed to this perception 93p- contributed to this perception gap. so what they will find is, one, but they will discover is a chance to revisit their own
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teams, factory floors, get a sense in their industry and sector what the real outlook is —— outlook. at the challenges of last year have really stomped on the consumer investor confidence is here and china recovery has been unbalanced so far. so as not quite the recovery that i think people were hoping for even if it is not probably as grim as perhaps the more sensational headline suggests.— perhaps the more sensational headline suggests. speaking of china's economy... _ we saw signs of an post pandemic economic rebound in the first quarter of 2023. but since then, official data suggests its economy is facing vinesh motwani of consultancy firm silk road research joins us now. he spent time visiting dozens of businesses across china and said that his main take away was that there is no need to panic. i was that there is no need to anic. ~ . , was that there is no need to anic. ~ ., , ., was that there is no need to anic. ~ .,, ., ., ., panic. i think has to do a with
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expectations. _ panic. i think has to do a with expectations. as _ panic. i think has to do a with expectations. as your - panic. i think has to do a with. expectations. as your previous guest had reviewed that china did their departure from zero covid in december so you had that first reopened wave in december and january leading to chinese new year and in february slow reopening of chinese new year's we are still very early to the recovery in china. we have only had march and april official date of released studs two months of data. i think one of the things that are context tell us there is that recovery has been pretty robust on the consumer side. what you are seeing is a two speed economy the sectors that were most directly impacted by covid are recovering quite strongly post we have audio data from the month of may and it had a new record after being down 20% in the first quarter relative to the first quarter relative to the prior peak. some of the scene sometime. we need recovery to play out and we are expecting the second half to be better than the second quarter. which industries are the most
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worried and concerned at the stage? worried and concerned at the staue? ,, ,., stage? the weaknesses are really concentrated - stage? the weaknesses are really concentrated into - really concentrated into sectors. one is the property market. we have seen a disappointing slowdown in the momentum of property sales and in the second is infrastructure spending which tends to help lead the recovery in the early stages, has been very slow to get going. the reason for that is government finances have been stressed, the implementation of the zero covid infrastructure last year was expensive for a lot of local governments are still in balance sheet repair mode. the lack of effect of monetary policy and physical —— fiscal policy and physical —— fiscal policy into the economy is lower at this year than in previous ones. meanwhile, us president joe biden has unveiled a m2 billion dollar plan to make high—speed internet universal by 20 30.
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the announcement comes as mr biden gears up for his reelection bid. and as my colleague samira hussain explains it will partly be seen as a referendum on his handling of the economy. more than a million people in the united states do not have access to fast reliable internet. that is roughly 7% of the population of the us. so it is a big problem here that one, this administration would like to address. the money has already been appropriated which means there is no fight in congress to actually get the funding. and each state will get a minimum of $107 million. the amount will go up according to the percentage of the population that is without broadband access. the last of internet access got a lot of attention during the pandemic when students were forced into online learning —— lack of internet access. internet companies have been reluctant to bring broadband to rural communities because it is expensive given the low number
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of subscribers that they would be getting. this push for more broadband access across the country comes as us president joe biden fights for reelection. part of this reelection. part of this reelection bid will really hinge on his administration's handling of the economy. it stands at 22% in other news this morning at 22% pakistan's central bank has raised its benchmark interest rate by1 percent at an emergency meeting on monday. it now stands at 22 percent a record high. the move comes as islamabad tries to rescue an imf programme which expires in approximately three days. a usjudge has granted preliminary approval to america's largest bankjp morgan chase for a $290 million dollar settlement with women who said jeffrey epstein abused them. they also accused the bank of turning a blind eye to epstein�*s alleged sex trafficking... because he was an important client. epstein was a client ofjp morgan from 1998 until 2013.
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banking giant hsbc will switch its global headquarters in london from its current base in canary wharf to the city's financial district. the firm will move out by 2027 when its current lease expires. hsbc has been at canary wharf for two decades... and the switch is part of its plans to downsize its office space following the covid—19 pandemic. the first ever olympic e sports week wrapped up in singapore recently. it was the first time the international olympic committee has hosted an in person e—sports event, as opposed to an all virtual setting. and the games tournament had a different format too. let's take a look at a couple of games, and the competitors. ready, fight! k0. it's quite
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comfortable _ ready, fight! k0. it's quite comfortable only - ready, fight! 120 it's quite comfortable only the ready, fight! iii) it's quite comfortable only the headset ready, fight! i;v it's quite comfortable only the headset is a bit _ comfortable only the headset is a bit heavy. we comfortable only the headset is a bit heavy-— comfortable only the headset is a bit heavy. we wanted to show that vr has _ a bit heavy. we wanted to show that vr has links _ a bit heavy. we wanted to show that vr has links and _ a bit heavy. we wanted to show that vr has links and full-bodyl that vr has links and full—body tracking — that vr has links and full—body tracking the _ that vr has links and full—body tracking the speed _ that vr has links and full—body tracking the speed could - that vr has links and full—body tracking the speed could be - that vr has links and full—body tracking the speed could be a i tracking the speed could be a great — tracking the speed could be a great spectator— tracking the speed could be a great spectator experience i tracking the speed could be a| great spectator experience as well great spectator experience as wett as— great spectator experience as well as playing _ great spectator experience as well as playing experience. i i started playing just dance when he came out on b so that was in 2010. —— wii. with the switch you have to hold it firmly and because i want to score more points and just dance so how i hold it, how i swing it in matters a whole lot compared to me dancing zumba or any kind of dance.
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and just dance the position of the swing and the energy, plays a whole lot of difference. our primary goal with the olympic movement is to support virtuat— olympic movement is to support virtual sports within the olympic movement. this is also what _ olympic movement. this is also what we — olympic movement. this is also what we have focused our first programme with virtual sports insulated sports. —— simulated sports — first is a long—term strategy that— first is a long—term strategy that is— first is a long—term strategy that is ingrained in our
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strategy agenda. with objectives and we really want to continue and have the second edition — to continue and have the second edition may be in 24 and pushing _ edition may be in 24 and pushing forward for 25—26. this is really— pushing forward for 25—26. this is really the invention. well, remember nigel tan the athlete we spoke to in for he's now also singapore's first olympic esports series winner! i'd only 14 years old. and that's it for this edition of asia business report. thanks for watching. me my colleague who has long hair which is obsolete with the crow goes for we went up and saw with the crow would go for her and within seconds ijust went for her head. it’s her and within seconds i 'ust went for her headfi went for her head. it's the talk of town _ went for her head. it's the talk of town in _ went for her head. it's the talk of town in this - went for her head. it's the talk of town in this part i went for her head. it's the talk of town in this part of|
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talk of town in this part of london dozens of people with their own terrifying experience. i their own terrifying experience.- their own terrifying exerience. ~ . , experience. i knew that they were attacked _ experience. i knew that they were attacked people - experience. i knew that they were attacked people but. experience. i knew that they i were attacked people but they are attacking women with long hair~ _ are attacking women with long hair~ 50— are attacking women with long hair~ so i— are attacking women with long hair. so i thought i was pretty safe~ — hair. so i thought i was pretty safe~ and _ hair. so i thought i was pretty safe. and then suddenly there was a — safe. and then suddenly there was a thump on my back, a really— was a thump on my back, a really hard thump. i thought what — really hard thump. i thought what was that and i saw it was a crow — what was that and i saw it was a crow. ,, ., ~ what was that and i saw it was a crow. ~ ., , a crow. something kind of bit m hair a crow. something kind of bit my hair from _ a crow. something kind of bit my hair from the _ a crow. something kind of bit my hair from the back - a crow. something kind of bit my hair from the back and i a crow. something kind of bit i my hair from the back and when i my hair from the back and when i turned — my hair from the back and when i turned around _ my hair from the back and when i turned around there _ my hair from the back and when i turned around there was - i turned around there was nothing _ i turned around there was nothing and _ i turned around there was nothing and then - i turned around there was nothing and then it - i turned around there was i nothing and then it happened i turned around there was - nothing and then it happened to me five — nothing and then it happened to me five times _ nothing and then it happened to me five times may— nothing and then it happened to me five times may be _ nothing and then it happened to me five times may be an - nothing and then it happened to me five times may be an you i me five times may be an you feel— me five times may be an you feel like _ me five times may be an you feel like you _ me five times may be an you feel like you are _ me five times may be an you feel like you are delusional. feel like you are delusional because _ feel like you are delusional because there _ feel like you are delusional because there is _ feel like you are delusional because there is literally. because there is literally nothing _ because there is literally nothing going _ because there is literally nothing going on- because there is literally nothing going on and i because there is literally nothing going on and ati because there is literally- nothing going on and at some point — nothing going on and at some point i — nothing going on and at some point i realised _ nothing going on and at some point i realised it _ nothing going on and at some point i realised it was - nothing going on and at some point i realised it was a - nothing going on and at some point i realised it was a blackl point i realised it was a black crow — point i realised it was a black crow. . ., ., ., crow. there are around a million — crow. there are around a million pairs _ crow. there are around a million pairs of— crow. there are around a million pairs of carry-onl crow. there are around a i million pairs of carry-on crows million pairs of carry—on crows in the uk and experts a say they are simply protecting their young during nesting season. in their young during nesting season. , , , season. in this case they may be over interpreting - season. in this case they may be over interpreting the i be over interpreting the appearance of women with long hair as— appearance of women with long hair as a — appearance of women with long hair as a threat so they are just— hair as a threat so they are just try— hair as a threat so they are just try to— hair as a threat so they are just try to defend the cells they— just try to defend the cells they are not attacking. crows are not— they are not attacking. crows are not aggressive to humans they— are not aggressive to humans they are — are not aggressive to humans they are not attacking for no reason — they are not attacking for no reason at _ they are not attacking for no reason at all.
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tonight — drug testing at festivals. prince william on tackling homelessness and a curious whale. uk festival season is on and a big question each year is how to party safely. musicians and mps have written an open letter to the government calling to allow festivals to run drug testing, where confiscated substances are checked for issues like impurities. and there's a split about whether festivals should need a special licence to do testing. the government says yes, but the group behind the letter say drug testing has happened since 2014 without them. some other stories for you now. for the first time, the bbc can reveal a major suspect into the murder of stephen lawrence, who was killed in a racist attack by a gang of young white men in south london in 1993.
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matthew white died two years ago at the age of 50. it's emerged that officers failed to follow up on mr white in the case, despite witnesses saying he admitted he was at the scene. and an inquest has heard that nicola bully, who went missing in lancashire injanuary, died as a result of drowning. it took more than three weeks to find her body after a major police search. and prince william is launching a five year campaign to try and end homelessness. the prince's foundation pledged £3 million of funding to tackle the issue. and time now for 10 seconds of a curious humpback whale following a kayaker at sydney's bondi beach. i think that will be amazing and terrifying at the same time. now, excuse the dark joke, but you could say ——dad joke they were having a whale of a time.
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you're all caught up now. see you later. hello and welcome to sportsday. it's advantage australia in the women's ashes series — they take four points after some brilliant bowling on the final day of the test. what can england's men do to level their series — we build—up to the second test at lord's with some injury concerns for ben stokes. and the latest sporting venture from the hollywood stars — ryan reynolds and rob mcelhenney look to formula one, after success with wrexham.
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