plus china's renminbi is now one of asia's worst performing currencies. we look into what this means for one of the world's biggest economies. welcome to asia business report with me, mariko oi. we begin with threads because meta's latest social media app has managed to hit 100 million signups within five days since it was launched. celebrities, politicians and journalists have joined mark zuckerberg's new app which is now the fastest growing online platform to hit the milestone. threads aims to rival twitter which had about 240 million daily active users injuly last year, and of course that was before it was taken over by billionaire elon musk. the platform launched by instagram owner meta has beat that

record set by chatgpt, signing up more than 100 million users in under five days. that was just last wednesday that threads went live on apple and android app stores and 100 countries. mark zuckerberg said he couldn't believe the milestone had been reached so fast but if it feels like lots of people are already on it, well that is partly because it is connect to instagram. meta isn't creating an app from scratch, it is benefiting from its 2 billion instagram followers and that's giving it a massive shot in the arm. analysts are calling this the first serious threat to the elon musk owned twitter. according to similar web, twitter�*s web traffic was down 11% from the year prior, that's in the days immediately after threads launched. it's worth remembering threads is not the first attempt to challenge the microblogging app but others such as mastodon, bluesky and truth social remain small. history shows that creating a social media

platform is hard but when it works, it really works. the reverse however is also true and when communities leave a social media platform, they can do so pretty quickly. remember myspace, anyone? meanwhile, china's officials are closely watching the performance of the remember the, —— renminbi making it one of the worst performing currencies in the region. instead it pegs the yuan to the us dollar. it shows how much yuan you can get for one us dollar over the past six months. the central bank says the mid— point fixing for the currency and the yuan can trade with the present range. recently that point has been

fixed higher to tackle the slide in the currency. earlier i spoke to natwest markets. there is two, domestic and external. interest rate differences, you get a lot more on your currency and your deposit if you convert it to a foreign currency and put it elsewhere, rather than in china so that is preventing a lot of companies that let's say have receivables, and come in foreign currency, have converted their currency back, and the other component is the market component where, as mentioned, this idea of interest rate differences, the outlook on growth is not quite as hot as it was, the expectations of where the economy might be going as a little bit subdued so it is not very convincing for financial institutions and investors to necessarily put their money here so i think in this case it is very clear that they would rather

stash it elsewhere like the us dollar. elsewhere in china the national weather agency has warned that the country is warming up faster than the global average. in its latest report on climate change, over 3000 extreme heat events were recorded last year and that is the highest number and around six years and the capital beijing —— 60 years. beijing experiencing a severe heat wave and northern china has been particularly affect. the need to keep cool has been driving up demand for electricity and stretching the limits of power grids across the country. earlier i spoke to a guest who told us these challenges are being taken seriously by chinese officials. i think the chinese leaders very aware that china is very vulnerable to climate change from extreme temperatures to droughts to rising sea levels, they are very serious challenges to the economy,

so the government has taken several measures. i think the real question is, whether or not they are taking enough measures and whether they are taking them quickly enough, and there are people that should be a little more concerned given that china is the biggest emitter of greenhouse gases globally and the challenge is really massive. last year there were several power shortages incidents in china, could these extreme weather be having an impact on power grids yet again? that is very possible. i would say that the government has taken several measures to try and prevent this, especially because china over the past few years, it is not just been last year, there's been several of these shortages both in the summer and the winter due to a combination of natural factors and institutional factors as well worsened by climate change of course. so the government has taken several measures, including i think most

notably at the moment, is the order to keep running power plant and the expansion of permits for new coal power plants. so that in theory should mean demand but we will have to see how that plays out as the summer precedes. iphone box con has withdrawn from a semiconductorjoint venture with almost $20 billion. last year the world's biggest contractor electronics maker had signed a pact with india's mining conglomerate stopping the plan was to set up semiconductor and display conduction plans in gujarat but in a statement foxconn said the company will not move forward with a joint venture without explaining why. they say it remains committed to its semiconductor project.

staying in india, where the diabetic population has crossed 100 million and gone up by over 40% injust the last four years. the disease is now spreading to smaller towns and villages and it is a trend that has grave health and economic consequences copy one out of every ten of these people are diabetic. and many more are on the cusp of it. this woman's poorly controlled diabetes lead to complications and eventually a foot amputation. she is now part of a grim statistic. every year around 100,000 indians lose a foot from amputation. translation: | had i never imagined i would lose my foot. what can one do? i have to live like this now. 0nce considered a rich man's

disease, diabetes is now spreading to india's vast rural hinterland, as consumption of processed food goes up and lifestyles become more sedentary. what we need to do is to make the healthcare option the easier option by making it much more affordable. this diabetes awareness start—up and a small village in central india is using fun and games to educate people about the disease. awareness of diabetes and access to specialist doctors is a critical gap in remote parts of this country. so you can get your sugar levels tested in a matter of a few seconds with this device and what is a staggering statistic from the scan is that more than 50% of the people who randomly walked in here actually had sugar levels that were higher than normal.

affordable care will be key to limiting the spread of the disease, says the founder. every expense around diabetes that you look at is actually out of pocket. whether it is expense on medicines, expense ongoing and seeing a doctor, getting your diagnostics done, if you are able to make this whole value proposition a lot more affordable you see a sudden steep rise in the level of inherent and compliance. this is a disease that carries with it a big economic cost, say experts, to reduce productivity and higher healthcare spending. a major burden for a low income country like india. and before we go, a coroner in the uk has found that three british people who died aboard a boeing 737 max airliner four years ago were unlawfully killed. sam pigment, 0livia beck and joanna toal were among

157 people who died on the plane crash. lawyers for the families had sought a verdict of unlawful killing ahead of an inquest into their loved ones�* debts. the court heard the flight from addis ababa to kenya crashed shortly after takeoff because of a design flaw and if you want to read more about that, theo leggett our reporter has written an article about it so do check that out on the bbc website as well. and with that we end this edition of asia business report but we will be back tomorrow so join us if you can but for now, thank you so much for watching. bbc news, bringing you different stories from across the uk. described in court as a bright, happy and bubbly person who easily made friends, he took his own life and april

2021. he was a0 years old. an inquest into his death described his case as unusual and complex. the coroner�*s court showed that luke had an undiagnosed gambling disorder, a recognised psychiatric condition. it wasn�*t diagnosed because he didn�*t share his gambling with anyone, nor did he seek the in 2019 he had debts of £18,000 because of his gambling addiction. he and his wife were able to pay it off when the couple sold their home but during the pandemic, luke was increasingly gambling again. in a statement, the parent company of bit fair say: the recording, for the first time ever, of a gambling disorder as a cause of death

has been welcomed by local�*s family. has been welcomed by local's famil . ., ., , ., , has been welcomed by local's famil. ., ., , ., family. for more stories from across the — family. for more stories from across the uk, _ family. for more stories from across the uk, head - family. for more stories from across the uk, head to - family. for more stories from across the uk, head to the i family. for more stories from i across the uk, head to the bbc news website. i�*m levi with the catch up. tonight, a warning about pride, weight loss jabs and pampering homeless dogs. but first, a lawyer representing the young person who is at the centre of allegations about bbc presenter has said the claims made by their mother are rubbish and there are no truth to it. so how did we get here? on friday the sun reported claims that a presenter paid a teenager for sexually explicit photos starting when they were 17. then on sunday the mother�*s said that the teenager gives the presenter�*s money to fund a crack cocaine habit. the son says it has seen evidence of

the concerns and claims that the concerns and claims that the bbc failed to act upon a complaint about the presenter�*s behaviour and they should now properly investigate. a top us senator has called on regulators to investigate an energy drink promoted by youtubers — the prime energy drink is being targeted at children despite containing around twice the amount of caffeine as a red bull. next, all police forces in england and wales will use a new approach to rape and sexual assault investigations from this week, they will focus on increasing the low rate of prosecutions. and europe�*s drug regulator says it is starting a review into some weight loss jabs after reports of a possible link to suicide thoughts and self harm. and, 10 seconds of dog care. students at the university students at the university of nottingham have of nottingham have set up a vet that provides free treatment for homeless people�*s

pets. pets. the team says they have seen an increase in the number in the number of people visiting because of the cost of people visiting because of the cost of living crisis. of living crisis. that�*s all for today, wimbledon quarter—final. have a good night. hello and welcome to sportsday. i�*m 0lly foster. coming up on the program: carlos shows his class: the world number 0ne comes from a set down to reach his first