counting the cost in china as floods hit the country, raising concerns about food security. and a pioneer of the clubbing scene here in singapore sets its sights on a global expansion. hi there, welcome to asia business report with me, mariko oi. as we've been telling you here on bbc news, china has been hit by severe weather in the recent weeks after two powerful typhoons with the country in one month. more than 7 million people across the country have been affected, including in the capital, beijing. floods have also hit one of the country's top grain producing regions, raising concerns about food security. early i spoke to regional

expert rajiv biswas, who explained the economic impact of these floods.— of these floods. well if flooding _ of these floods. well if flooding so _ of these floods. well if flooding so for- of these floods. well if flooding so for any - of these floods. well if i flooding so for any month of these floods. well if - flooding so for any month of july is estimated to cost around 25 billion us dollars, then of course the season for then of course the season for the extreme weather events is not yet over, august and september, historically, have also often had severe weather events, such as typhoons and floods, as well as droughts. last year china was also hit by very severe drought. so what we're seeing increasing impact of severe weather events on china and this is, of course, linked to rising temperatures globally, climate change is very much linked to what we are seeing at present in china and in recent years and there is a lot of concern that as global temperatures rise further

towards that global target of 1.5 celsius, that the impact and economic cost of these severe weather events will actually increase significantly further. 50 actually increase significantly further. ,, ., actually increase significantly further. , ., further. so in your view should there be more _ further. so in your view should there be more investment - further. so in your view should there be more investment in l there be more investment in infrastructure in order to prevent devastations that we saw? i prevent devastations that we saw? ~ saw? i think given the expectations - saw? i think given the expectations that - saw? i think given the l expectations that rising temperatures will result in more severe climate event and create more economic costs and losses, particularly in the rural sector in china, think there is a very strong reason why the chinese government needs to invest a lot more in infrastructure to resilience to severe weather events such as typhoons, and also for water management to provide additional water in the event of drought, so water storage systems. so there is a lot of

infrastructure investment that is needed. historically china has been very good at investing heavily in infrastructure, but a thing is increasingly severe weather events will probably accelerate the shift towards more investment in infrastructure. but other mechanisms are also needed, such as greater insurance, both your government insurance schemes and private—sector insurance schemes, to compensate for losses that are incurred due to severe weather events such as typhoons and droughts. events such as typhoons and droughts-_ events such as typhoons and drou~hts. ., �* , ,, droughts. ra'iv biswas speaking to me a droughts. rajiv biswas speaking to me a little — droughts. rajiv biswas speaking to me a little earlier. _ droughts. rajiv biswas speaking to me a little earlier. away - to me a little earlier. away from china now, and here in southeast asia, economies have taken a hit from weakening into —— external demand as well as falling commodity prices. there is one bright spot and that is indonesia. forthe is one bright spot and that is indonesia. for the three months tojune its economy managed to expand just over 5%, which is slightly more than what we saw in the first quarter. economist katrina ell explained what led

indonesia's growth. 50 katrina ell explained what led indonesia's growth.— indonesia's growth. so it was actually a _ indonesia's growth. so it was actually a number _ indonesia's growth. so it was actually a number of - indonesia's growth. so it was actually a number of factors. | actually a number of factors. we saw the domestic demand in indonesia held up a lot better than expected, in particular, private consumption maintained its march quarter pace, which was surprising given that households have been grappling with, you know, still elevated inflation as well as borrowing costs being elevated. but we also saw that the government sector actually contributed a lot and part of that came on the back of the government actually accelerating infrastructure spending and broader spending initiatives as well. but, you know, some of the expected weak spots were there. in particular, goods exports, so commodity exports were weaker, which was to be expected, but on the flipside, we saw service exports were strong and that a driver of that strong service exports was the return of international terrorism, because we are seeing that international arrivals, including from china, are increasingly coming back to

indonesia, which is an important source of growth, particularly prior to the pandemic, so it is starting to mmp pandemic, so it is starting to ramp again. pandemic, so it is starting to ramp again-— pandemic, so it is starting to ram aaain. ~ ., , ramp again. meanwhile, the rest of southeast _ ramp again. meanwhile, the rest of southeast asia, _ ramp again. meanwhile, the rest of southeast asia, including - of southeast asia, including here in singapore, economies have been hit by the weakening demand overseas. our economy is coping and when can we see things turning, in your view? so what we're seeing is, you know, the picture, so that the merchandise trade picture right across southeast asia is weak. we're seeing the tech cycle is still in that downswing and commodity prices are still of course we as a result of that weekend and offshore. expecting that things are not going to materially improve until early next year. in the us as well as europe, those economies there, domestic demand is incredibly weak as a result of the monetary tightening schedules and the aggressive monetary tightening schedules that have taken place and so we will increasingly see the impact of those rate hikes in weekend

domestic demand through the second half of this year. the good news is then should start to improve in 2024 for the export picture in southeast asia. in export picture in southeast asia. ., , , asia. in other news this morning. _ asia. in other news this morning, toshiba - asia. in other news this morning, toshiba has l asia. in other news this i morning, toshiba has said asia. in other news this - morning, toshiba has said that a $14 billion tender offer to take the company private will be launched later today. at least two—thirds of shareholders will have to attend up their shares for the bid to succeed. the effort, if successful, could result in activist investors being bought out and effectively returning toshiba to domestic hands. does a's finance chief has stepped down after 13 years at the electric car maker. —— tesla. it came as a surprise because some analysts saw him as a possible successor to his boss, elon musk. michelle fleury has more. it elon musk. michelle fleury has more. ., , elon musk. michelle fleury has more. ., elon musk. michelle fleury has more, ., , ., elon musk. michelle fleury has more. ., , ., ., more. it was a bit of a surprise- _ more. it was a bit of a surprise. in _ more. it was a bit of a surprise. in a - more. it was a bit of aj surprise. in a linkedin more. it was a bit of a - surprise. in a linkedin post he confirmed he was stepping down from his role as chief financial officer and would leave the electric, gas the end of the year. we also expressed

gratitude to his boss elon musk and to his colleagues, saying they had accomplished things many have thought not possible. mr kirkwood had been with tesla for 13 years. we took over the finance role in 2019. during that time tesla's profits and market valuation sword. no reason was given for his exit at his departure does raise questions about who will succeed elon musk, a busy man, who also runs spacex and the former twitter platform x. the role of cfo will be taken over, no word yet of whether he will inherit the title master of coin, a name given to mr kirkhorn back in march 2021. michelle fleury reporting there. meanwhile, paypal has launched a us dollar stablecoin, dubbed paypal usd, it is fully backed by the american dollar as well as short—term us treasuries. the move makes paypal the first

major financial tech firm to embrace such digital currencies for payments and transfers. stablecoins are crypto tokens pegged to a stable asset and are currently mostly used to trade for other cryptocurrencies. a homegrown label here in singapore is looking to expand its global footprint in the nightlife scene. zouk pain in the clubbing scene here and 30 years later is looking to venture overseas. we caught up with the company's music plays. suddenly at 32 years you have people who have the, our founding fathers and founding mothers of singapore who have clubbed in the same brand is now their children. honestly,

it was extremely daunting. i think i had a huge imposter syndrome i think in the beginning. lee is still a legend in the field, he basically brought house music from a beef and took this warehouse which became so iconic. when i saw the brand and i took that kind of emotional connection to it, realise that we needed to have a spokesperson and i wanted help lead the charge as we grow into this global and lifestyle ticket. when we first started we were one nightclub establishment, now we span 35 concepts around the world. during covid we changed our club into a live streaming studio. we also made it into a spin studio with one of the big kind of spin studios and upstairs we changed 0ur capital, which is one of our concepts, into a restaurant as well. we realised we wanted to

just branch out in very key gateway cities, and i think tokyo and la both have very strategic purposes. ellie being the fact it is one of the big feeder markets to las vegas, so you have a lot of people coming in from the west coast into las vegas —— la. tokyo is a completely new project, we have a partner who basically operates hotels as well in japan. so we will be inside the new hotel with this new project we can really custom—made a nightlife experience that i don't thinkjapan has ever had before. ., , don't thinkjapan has ever had before. . , before. finally, zoom, the company _ before. finally, zoom, the company is _ before. finally, zoom, the company is synonymous i before. finally, zoom, the i company is synonymous with remote work, has ordered stuff back to the office at least twice a week. theyjoin a slew of other major companies like amazon and disney to cut back on remote workers. that is it for today's edition of asia business report. thank you so much for watching.

voice-over: bbc news, - bringing you different stories from across the uk. early morning, for over a year now these speed limits through the village has been 20 mph. today police were out to check and still found some who were going to fast and pulled them over. i going to fast and pulled them over. ' . going to fast and pulled them over. , . ., ., over. i find it difficult to do 20 mph- — over. i find it difficult to do 20 man i— over. i find it difficult to do 20 man i am _ over. i find it difficult to do 20 mph. i am normally - over. i find it difficult to do l 20 mph. i am normally doing over. i find it difficult to do - 20 mph. i am normally doing 23. the police check the speed for 194 motorists during a two—hour period and found 16 going too fast, with one going 34 mph. today they didn't have to pay a fine, but could watch a safety presentation, part of the way the police are trying to get the police are trying to get the message across. certainly at 30 miles — the message across. certainly at 30 miles an _ the message across. certainly at 30 miles an hour— the message across. certainly at 30 miles an hour you - the message across. certainly at 30 miles an hour you have | the message across. certainlyl at 30 miles an hour you have a 50% chance of surviving a vehicle collision. a 20 mph you have a 25% chance. but the fact

that people were still speeding was not a surprise to many here. it was not a surprise to many here. , ., ., ., was not a surprise to many here. , ., , here. it will be good to see --eole here. it will be good to see people actually _ here. it will be good to see people actually going - here. it will be good to see people actually going 20 i people actually going 20 mile—per—hour, a lot of the lime — mile—per—hour, a lot of the time ago _ mile—per—hour, a lot of the time ago bit quicker. mile-per-hour, a lot of the time ago bit quicker.- mile-per-hour, a lot of the time ago bit quicker. and the new speed — time ago bit quicker. and the new speed limit _ time ago bit quicker. and the new speed limit won't - time ago bit quicker. and the new speed limit won't just i time ago bit quicker. and the i new speed limit won't just mean changes to drivers' behaviour, will also mean the need to be changes the roze themselves on the signs and markings. there was governments at longer term the cost would be balanced by reduce pressures on the nhs and emergency services. hey, i'm zof, with the catch up. let's start with some football, and england have scraped through to the quarter—finals of the women's world cup with a dramatic penalty shoot—out against nigeria following a 0—0 score. but it wasn't such a great game for star scorer laurenjames, who got a red card because she stamped on nigerian player michelle alozie. an aberdeen university student, anastasia myers, has said she feels on top of the world

as she prepares to visit space with her mum. they will board the virgin galactic spacecraft on thursday, they won this trip from a competition. in fact, they will be the first mother and daughter ever to make the journey. some other stories now, the first group of asylum seekers have boarded the controversial bibby stockholm, housing barge. to 500 people will eventually live on the vessel in dorset, they will stay there while they await the outcome of their asylum applications. some human rights groups have called the scheme inhumane, but ministers insist it is safe and will actually save money. and the new barbie film has just hit the billion—dollar mark. just 17 days after its release it will finish the weekend with £1 billion in ticket sales at the global box office. it means greta gerwig has become the first woman to reach the milestone as a solo director. time now than for ten seconds of a rare blackjaguar called inca arriving at chester zoo.

she arrived from the cats sanctuary in kent as part of a special programme that aims to protect the species. and you're all caught up now. see you later.

hello and welcome to sportsday. i'm tulsen tollett. england into the last eight at the women's world cup but the lionnesses ride their luck against nigeria. and the matildas march on — they're too strong for denmark. the co—hosts putting their early tournament wobbles to bed. and joe marchant makes england's rugby world cup squad but there are some notable absentees. hello there and welcome along to the program. it's been a women's world cup full of twists and turns so far, with big names like the usa, germany and brazil knocked out. and england's lionnesses were so nearly on the end of the latest upset against nigeria. the african side were more than a match

and could so easily have won the match inside 90 minutes.