the united states unveils its long—awaited order limiting certain american investments in china's tech sector. and we look at our sri lanka's economy is making a comeback thanks to its tourism industry. hi there, welcome to asia business report, with me mariko oi. our top story this morning as we told you on newsday, us presidentjoe biden has a slapped new restrictions on american investments in china's high—tech sector. the long—awaited executive order targets industries like semiconductors and artificial intelligence. it is expected to come into effect next year. this is a new front of the tech well between two global superpowers. the restrictions

prevent capital from some investing in high—tech sector investing in high—tech sector in china such as quantum computing, artificial intelligence and advanced semiconductors. the goal is to stop the speed up of technology that could help china develop weapons for use against america in a military context. we put also require firms to make arrangements to report activities. potentially laying the ground for more restrictions down the road. the regulations are not expected to take effect right away and there will be a period so businesses can weigh in on the proposal. china is the world's second biggest economy, a vital market for american companies and the concern expressed by some us executives may explain why this order has not been released until now even though expected back in february. a senior official described the move as targeted saying this is

our national security action not an economic one and adding the us is not decoupling our economy. the move is likely to upset beijing with analyst wanting the us should be prepared for china to retaliate. earlier i spoke to anna ashton, from a political risk consultancy firm and she explained what sort of reach the order could have. it is not as restrictive as it could have been, certainly not as restrictive as the rumours suggested it would be when the administration first announced that it was considering something like this. it really only targets new investments into chinese firms and only chinese firms that derive more than 50% of their revenue sensitive sectors like ai, quantum computing and advanced semiconductors. and that is far more narrow than we could have seen because last october the administration talked about a broader range of industries that were national security sensitive and would require either expert controls of some sort of investment

restrictions or both. shares in co— working farm, wework, have shed almost 40% in a single day after the company warned it could go bankrupt. wework sighted financial losses, cash needs and a drop in membership. shares in wework are currently trading at around 13 cents. in india, the country's central bank is to unveil its latest monetary policy decision later today and the inflation rate has accelerated in june with food prices soaring in the last two months. so much so that tomato prices have rocketed. they now cost around ten times more from three months ago. earlier i spoke to economist radhiko rao who gave her take and how she expected

the central bank to move later. i think the rba is going to meet an exciting challenge injunction. they look at call inflation removing feel, how is that reacting and if that seems to pick up, it shows the need to act thereafter. administrative measures can be done and have already been undertaken. things like stepping up in pods for certain commodities whether it's a supply shortfall. some export bands have taken place a two short domestic supplies of certain crucial food grant remain sufficient. also monetary policy place a smaller role but government administrative measures can have a bigger say in how inflation can be contained. it

inflation can be contained. it has been one year after devastating economic crisis brought sri lanka to a standstill. the country is slowly getting back on track. much of the recovery is being generated by tourism which is one of the main sources of revenue for the country. the tide has begun to turn in sri lanka. the pristine beaches in arugam bay are again buzzing with surfers waiting to catch the perfect wave. in this town on the eastern coast of sri lanka, the peak of the economic crisis coincided with their main tourist season, hitting local businesses hard and this surfing destination is still picking up the pieces. this surfing instructor is back to giving daily lessons to tourists, a respite from last year when the economic crisis forced him into fishing

to support his family. but he says a full recovery is still distant. due to the price change, we are struggling a lot. of course we have to put our price up for lesson and accommodation but still we pay a lot of money for electricity bill and for other basic needs. crowded beaches and busy hotels are promising signs for sri lanka's tourist trade, its biggest foreign currency tourism revenue up 13% from last year. when i came last year to a gourmet, there were a few shops open and here are almost no people. to see now the difference is amazing. so many new places and the business is coming back and many tourists are coming back. it is a good atmosphere now. some of the bigger players are more optimistic about navigating the recovery. the recovery so far

is quite magical for us singapore airlines, emirates, air india, all these big carriers are coming back and they are increasing the frequency to the country along with our national carrier in sri lanka. however, very high cost of borrowing and the migration of the country's skilled workers, from chef to housekeeping staff remains a major worry. i cannot see a lot of new development happening, construction happening. until the cost of building comes down. most of our ships are now in australia, new zealand, canada so our biggest losses were in the kitchen then we lost engineering staff, financial staff. many say the crisis has set the country back five years living behind significant gaps which will take some time to be filled again. let's stay with the topic of tourism because soggy weather have hit much of the uk

summer months so it is no surprise that more people are spending on last—minute trips. katie austin has more. it is not exactly been sunbathing weather here if the wet british summer has got you dreaming of a last—minute escape to somewhere a bit warmer you're not the only one. tour operators and they have seen a definite trend as customers seek the sun in the lexus bank, turkey and greece. we ourselves are seeing a 25% increase last—minute booking and that is from pre—pandemic level so i think it is a combination of things, the weather, obviously it is quite it is quite a big one because i think it is a big increase since we have been forecasting we're not really getting a summer. just around the corner, at this hairdresser, the weather or how to escape it is hot topic.

we just put a last—minute holiday because i do not want to book, for him, me and my family and be raining the whole week. i'm not fussy, as long as it is hot, good cocktails, good food, bit of a play area, little boy, i don't mind. my daughter is off school so rather than hetjust laying around being on a phone all day, we decided for a quick five—day trip. the holiday is not an option for everyone, especially during a cost of living squeeze, plus the price of flights and hotels are generally up on last year and if you cannot go away, you might find there was not much choice left. many more people booked early because they had not been away in some cases for three years, they aren't too many last—minute deals of very good value but you can get them if you are flexible, not too fussy about which country destination but i also recommend going in september, october, even november. that is a trend one agent who is on her own 11th hour break in portugal told this is happening.

i think people have been put up by the cost of holidays in august because they are higher than they have been in previous years but also the heat and the fires that we have seen. people waiting until september and actually we're getting a lot of those last—minute requests. package holidays, especially all—inclusive have become very popular as people try to try to stick to their budgets. the miserablejuly here may not have been great for uk tourism but it has provided a boost for international travel after a tough few years. in other news, disney said it streaming tv service lost over 10 million subscribers in the last quarter. disney said it would raise the price on its ad—free streaming tier in october and will also move to crack down on password sharing just like its rival netflix earlier this year. that is it for the show. thank you for watching. bringing a different stories

from across the uk. at this meeting injuly was from across the uk. at this meeting in july was supposed from across the uk. at this meeting injuly was supposed to be an opportunity for birmingham city council to tell residents about their plans for over two billion pound generation of the area, ladywood body descended into chaos as people were locked outside. the residents feel left in the dark about the plans especially the fact the council have powers to force people out. i council have powers to force peeple out-— council have powers to force people out. i want something for family. — people out. i want something for family, friends _ people out. i want something for family, friends and - for family, friends and children forfamily, friends and children that are going to go up, where are you going to stick them? are they going to bejust stick them? are they going to be just pushed away and forgot? this birmingham university lecture moved to the area a few years ago and has joined a campaign to give residents a voice. :: :: :: , ., , voice. over 2000 people effected _ voice. over 2000 people effected by _ voice. over 2000 people effected by this - voice. over 2000 people effected by this and - voice. over 2000 people effected by this and they j voice. over 2000 people - effected by this and theyjust do not know what is going to happen next. the council was not sent us letters, saying our homes are at risk of a compulsory purchasing order

except we had to find it out on the news. except we had to find it out on the new-— the news. council says it will benefit in — the news. council says it will benefit in the _ the news. council says it will benefit in the long _ the news. council says it will benefit in the long run. - the news. council says it will benefit in the long run. this| benefit in the long run. this is a long-term, _ benefit in the long run. this is a long-term, 20-year - is a long—term, 20—year programme for an area that most need it so no—one is going to be turfed out of the house, there will be an offer made at some point. there will be an offer made at some point-— some point. for more stories across the — some point. for more stories across the uk, _ some point. for more stories across the uk, head - some point. for more stories across the uk, head to - some point. for more stories across the uk, head to the i some point. for more stories l across the uk, head to the bbc news website. hey, i'm dylan with the catch up. tonight, leaked police data, barbie controversy and yoga with goats. but first, the wrapper tory lanez has been sentenced to ten years in prison for shooting megan thee stallion in the foot after an argument in 2020. it was found guilty in december. next up, the personal details of 10,000 police officers in northern ireland were accidentally published online. the leak was taken down a few

hours later but people are really angry because during the 30 years known as the troubles is more than 300 officers were murdered in northern ireland and for that reason even today officers protect their identities. some other stories now. and the 8 countries that share the amazon rainforest have agreed to work together to stop the illegal logging of trees but there were hopes they would illegalize deforestration. authorities in lebanon have made a move to band at the movie barbie in the country think it promotes homosexuality and goes against religious values. more current and former itv employers have told mps about the toxic working culture including allegations of bullying and discrimination, at daytime shows like this one. itv said it to the complaint seriously and remember the mic can be lodged on ebay for almost $100,000.

the production company because of that say the profits will go to charity. and finally, i'm going to leave it with ten seconds of goat yoga. if you need a bit of this in your life, get to northumberland where you can perfect your sun salutations in a field full of goats. look at that, it looks like a lovely afternoon. that's it from me, you are all caught up.

hello and welcome to sportsday. i'm tulsen tollett. rangers on the verge of a champions league play off place after defeating servette at ibrox. australia's sam kerr is back from injury at the women's world cup and we go behind the scenes to chart her rise and ahead of his rearranged bout this weekend, anthonyjoshua gives us his take on boxing and where it currently is. hello and welcome to the programme, where we start with football and the champions league group stages are coming into vision for some teams with three third round qualifiers played on wednesday. the first leg matches in the qualifier round saw panathanaikos1—0 winners over marseille and maccabi haifa prevailed

2—1 in slovakia against slovan bratislava with all three goals in that match