the us unveils its longs awaited order limiting certain american investments in china's tech sector. and we look at how sri lanka's economy is making a come back thanks to its tourism industry. hi there. welcome to asia business report. our top story for you this morning. us presidentjoe biden has slapped new restrictions on american investments in chinese hi—tech sector. the long awaited executive order targets industries like semi—conductors and artificial intelligence. it's expected to come into effect next year, and bay ginning said it was concerned about the move. michelle fleury has more. this is a new front in the tech war between two global superpowers — the restrictions prevent american private equity and venture capital firms from investing in hi—tech sectors in

china, such as quantum computing, artificial intelligence and advanced semi—conductors. the goal is to stop us capital and know—how from speeding up the developments of technology that could help china for developing weapons for use against america in a military conflict. it would require firms making investments in a broader range of sensitive chinese industries to report that activity. potentially laying the ground for more restrictions on investments down the road. the regulations aren't expected to take effect right away, and there will be a public comment period so businesses can weigh in on the proposals. china is the world's second biggest economy. a vital market for american companies. and the concern expressed by some us execs may explain why this order, which was expected back in february, hasn't been release untilled now. —— until now. a senior administration official described the move as saying that this is a national security action, not an economic one. adding that us is

not decoupling our economies. still, the move is likely to upset beijing with analysises warning that the us should be prepared for china to retaliate. earlier, ispoke prepared for china to retaliate. earlier, i spoke to anna ashton and she explained what sort of reach this order could have. it what sort of reach this order could have.— could have. it is not as restrictive _ could have. it is not as restrictive as _ could have. it is not as restrictive as it - could have. it is not as restrictive as it could l could have. it is not as . restrictive as it could have been. certainly not as restrictive as the rumors 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 firms that redrive more than 50% of the revenue from sensitive sectors like ai, quantum computing and advanced semi—conductors. and that is far more narrow than we could have seen, because last objecting, the administration

talked about a broader range of industries that were national sensitive and would require either expert controls or some sort of an investment restrictions or both. in sort of an investment restrictions or both. in other news, shares _ restrictions or both. in other news, shares in _ restrictions or both. in other news, shares in wework - restrictions or both. in other. news, shares in wework have shed almost 40% in a single day after the company warneded that could go bankrupt. wework cited a drop in membership. shares in wework are currently trading at 13 cents. now to india where the country's central bank is due to unveil its monetary policy decision today. the inflation rate has accelerated injune with food prices soaring in the two months, so much so that tomato prices for example have rocketed. they now cost around ten times more than just three months ago. earlier, i spoke to an economist who gave us her assessment on how she expects the central bank to move later. i think the rbi is going to

meet the slightly challenging juncture since they had maintained quite a cautious outlook on inflation when they met last injune. and when they meet now, actually, some of that has already played out. you know, because of adverse weather conditions. food has picked up in perishables, but also broadly in terms of food grains and a few of the protein sources as well. so food inflation, when the most, the next number comes out injuly, july's number which comes out in a couple of days, will certainly show that inflation is way higher than what they anticipated as well a bit above target. so i think that they would prefer to keep their caution and stay vigilant on inflation, but keep rates on hold. ithink inflation, but keep rates on hold. i think the stance would be ready to act if required. but at this juncture, they don't see the need to act. now, it's been a year since a devastating economic crisis

brought describe very to a standstill. but the country is slowly getting back on track. much of the recovery is 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 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 tourist — 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 _ recovery is still distant. due to the price change, - recovery is still distant. die: to the price change, we're struggling a lot. of course, we have to put the price up for the surf lessons and for the accommodation. but still, we pay quite a lot of money for the electricity bill and you know, for other basic needs. crowded beaches and busy hotels are promising signs for sri lanka's tourist trade — its biggest foreign currency earner. tourism revenues are up 30% from last year. earner. tourism revenues are up 3096 from last year.— earner. tourism revenues are up 3096 from last year. when i came last year. — 3096 from last year. when i came last year. there _ 3096 from last year. when i came last year, there were _ 3096 from last year. when i came last year, there were a _ 3096 from last year. when i came last year, there were a few - last year, there were a few shops open. and there were almost no people. to see now, the difference — it's amazing. so many new places opened up. and the business is coming back. and many tourist are coming back. it's a good atmosphere now.- coming back. it's a good atmosphere now. some of the bi aer atmosphere now. some of the bigger players _ atmosphere now. some of the bigger players are _ atmosphere now. some of the bigger players are more - bigger players are more optimistic about navigating the recovery. optimistic about navigating the recove . . ., y optimistic about navigating the recove . , ., recovery. the recovery so far is uuite recovery. the recovery so far is quite magical _ recovery. the recovery so far is quite magical for - recovery. the recovery so far is quite magical for us. - recovery. the recovery so far is quite magical for us. so i recovery. the recovery so far| is quite magical for us. so the is quite magicalfor us. so the emirates, the qatars, the singapore airlines, aia india.

all of these big carriers are coming back and they're increasing their frequencies to the country, along with our national carrier.— the country, along with our national carrier. however, very hi . h national carrier. however, very high cost _ national carrier. however, very high cost of — national carrier. however, very high cost of borrowing - national carrier. however, very high cost of borrowing and - national carrier. however, very high cost of borrowing and a i high cost of borrowing and a migration of the country's skilled workers, from chefs, to house keeping staff, remains a major worry. i house keeping staff, remains a major worry-— ma'or worry. i can't see a lot of major worry. i can't see a lot of new development - major worry. i can't see a lot. of new development happening, construction happening, until the cost of borrowing comes down. most of our chefs are now in australia and new zealand and canada. so our biggest losses were in the kitchen. then we lost engineering staff. we lost financial staff.- we lost financial staff. many sa the we lost financial staff. many say the crisis _ we lost financial staff. many say the crisis has _ we lost financial staff. many say the crisis has set - we lost financial staff. many say the crisis has set the - say the crisis has set the country back by five years, leaving behind significant gaps which will take some time to be filled again. and let's stay on the topic of tourism, shall we. because 5°99y tourism, shall we. because soggy weather has hit much of the uk's summer months. so it's no surprise that many more

people are now spending on last minute getaways. it hasn't exactly been sun bathing weather here in eastbourne. if the weather has got you thinking of escaping to somewhere a bit warmer and sunnier. you're not the only one. tour operators and travel agents say they've seen a definite trend as customers seek the sun in the likes of spain, turkiye and greece. irate. spain, turkiye and greece. we, ourselves. _ spain, turkiye and greece. we, ourselves, have _ spain, turkiye and greece. we, ourselves, have seen _ spain, turkiye and greece. we, ourselves, have seen a - spain, turkiye and greece. , ourselves, have seen a 25% increase in last minute bookings, and that's from pre—pandemic levels. so i think it's a combination of things — the weather obviously quite a big one, because i think we've seen a big increase since we've been forecasted that we're not really getting a summer. just around the — really getting a summer. just around the corner— really getting a summer. just around the corner at this hairdresser, the weather, or how to escape it, is a hot topic. how to escape it, is a hot toic. ~ �* , ., how to escape it, is a hot toic. . �* , ., ., topic. we're 'ust going to bobbin . topic. we're 'ust going to bobbing a _ topic. we're just going to bobbing a last _ topic. we're just going to bobbing a last minute - topic. we're just going to - bobbing a last minute holiday. because i don't want to book time off for me and my tasmaniaily and it be raining the whole week. i'm not fussy,

as long as it is hot, good cocktails, good food. a bit of a play area for my little boy. i don't mind.— a play area for my little boy. i don't mind. the weather was lookin: i don't mind. the weather was looking pretty _ i don't mind. the weather was looking pretty iffy _ i don't mind. the weather was looking pretty iffy for - i don't mind. the weather was looking pretty iffy for the - looking pretty iffy for the week _ looking pretty iffy for the week. my daughter's off school. so week. my daughter's off school. 50 rather — week. my daughter's off school. so rather than herjust lay around _ so rather than herjust lay around be on her phone all day, we decided to do a quick five-day— we decided to do a quick five—day trip. a we decided to do a quick five-day trip.— we decided to do a quick five-day trip. a holiday isn't an option — five-day trip. a holiday isn't an option for _ five-day trip. a holiday isn't an option for everyone, - an option for everyone, especially during a cost of living squeeze, plus the price of flights and hotels is generally up on last year. and if you can go away, you might find there's not much choice left. �* .., , find there's not much choice left. �* . ., , , find there's not much choice left. , _ ., left. because this year in particular. _ left. because this year in particular, many - left. because this year in particular, many more i left. because this year in - particular, many more people booked early because they hadn't been away in some cases for three years, there aren't too many last minute deals at very good value. but you can get them if you are flexible, not too fussy about which country or destination that you go to. but i recommend, think of going in september, october and even november.— and even november. that's a trend one _ and even november. that's a trend one travel _ and even november. that's a trend one travel agent, - and even november. that's a trend one travel agent, who l and even november. that's a | trend one travel agent, who is on her own 11th hour break in portugal, told us is happening. i think people have been put off by a — the costs of holidays in august, because they are higher than they have

beenin they are higher than they have been in previous years. but also, the heat and the fires that we've seen abroad. so people are waiting until september and actually we're getting a lot of the last minute requests for then. package holidays, especially all inclusive, have become very popular as people try to stick to their budgets. the miserable july to their budgets. the miserable july here may not have been great for uk tourism, but it has provided a boost for international travel after a tough few years. and before we go, disney said its streaming tv service has lost more than 10 million subscribers in the last quarter. the company also said it would raise the price on its add—free streaming tier in october. that is it for this edition of asia business report. thank you so much for watching. bbc news bringing you different stories from across the uk.

things are challenging enough in itself to ride. but it's got a flat tire today which is not making things any easier. adam certainly likes _ making things any easier. adam certainly likes to _ making things any easier. adam certainly likes to challenge - certainly likes to challenge himself to say the least. but training for his latest fundraising mission is nothing compared to the biggest challenge he faced a few years ago. with a huge abdominal tumor, he'd already been sent for end of life care, but a marathon 17—hour, 8—organ transplant operation saved him. he was only the fourth person in the world to have the procedure. since then, with his wife, laura, by his side, he's taken on various fundraising adventures around the world. the latest is more local, but could be the toughest yet. i might have to wheelie it all the way there. i saw this princess bike just the way there. i saw this princess bikejust laid on the top of a skip looking a little sorry for itself and i thought — that would make a great little challenge. so i set the challenge to ride it from here down to the cancer research shop. around 30 miles something there. , ., there. there he is! training! as ou there. there he is! training! as you know. _ there. there he is! training! as you know, already, - there. there he is! training! as you know, already, we're having problems with punctures

and things. it's not going to be straightforward and it's really comfortable. having 'ust assed really comfortable. having 'ust passed the fi really comfortable. having 'ust passed the eight-year �* passed the eight—year anniversary since his operation, he found himself backin operation, he found himself back in hospital with complications recent but he's backin complications recent but he's back in the saddle and ready to take on the toddler bike challenge before the end of summer. for more stories from across the uk, head to the bbc news website. i'm dylan with the catch up. tonight, leaked police data. barbie controversy. and yoga with goats! but first, the rapper tory lanez has been sent to ten years in prison for shooting megan thee stallion in the foot. next up, the personal details of 10,000 police officers in northern ireland were accidentally published online. the leak was taken down

a hours later, but people are really angry, because during the 30 years known as the troubles, more than 300 officers were murdered in northern ireland. for that reason, even today, officers protect their identities. some other stories now: and the eight countries that share the amazon rainforest have agreed to work together to stop the illegal logging of trees. there were hopes the leaders would agree to outlaw deforestation. authorities in lebanon have made a move to ban the barbie movie from cinemas in the country, saying it promotes homosexuality and goes against religious values. more current and former itv employees have told mps have a toxic working culture, including allegations of bullying and discrimination at day time shows like this morning. itv said that it took the complaints seriously. and remember the mic cardi b launched at a fan — well, it sold on ebay for $100,000. the production company who sold it say that the profits will go to

charity. and finally, i'm going to leave you with ten seconds of goat yoga. if you need a bit of this in your life, get to north ummer land where you can —— northumberland with a field full of goats. it looks like a lovely afternoon. that's it from me. you're 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