down to the wire, political brinkmanship leaves the us government again on the verge of a shutdown. we'll look at the economic consequences. two—wheeler fever hits india, how motogp's debut in the country has accelerated demand for premium motorcycles. hello and welcome to asia business report. i'm arunoday mukharji. we begin in the united states where the government finds itself once again on the verge of a shutdown. us lawmakers have until midnight on september 30 to reach an agreement on a spending bill, before funding for government services is due to dry up. the impasse comes as a group of republicans in the house of representatives are using the issue as leverage to extract

additional spending cuts in the order of 120—billion dollars in the new fiscal year. speaking at a congressional black caucus awards dinner, the us president warned them against the consequences of triggering a shutdown. let's be clear, the government shuts down, that means members of congress and the us military or going to have to continue to work did not get paid. a government cut down damages everything. funding the government is why the most basic responsibilities of congress and it is time for republicans to start doing the job america elected them to do. let's get this done. that impasse over the us government budget comes at a time when the us economy is facing a significant number of challenges. the us auto industry, which is a key economic sector, is facing an expanding strike which could have an impact on growth. and while the federal

reserve decided to leave rates unchanged when it met last week, it has signalled that it will raise rates again before the end of 2023. earlier i spoke to portfolio manager, brian arcese, who told me this political brinkmanship could have important economic consequences. is quite serious very difficult whether or not to handicap us politics in general but it's handicap whether we have shut down and i won that government shutdown will be as difficult and in our minds, the position of the portfolio, we have government shutdowns previously committed as of an impact on the underlying real economy and this one in particular after rates have risen, but very quickly and buy high magnitude, to take the potential shutdown into account. we

to take the potential shutdown into account.— to take the potential shutdown into account. we have a slew of indicators _ into account. we have a slew of indicators in — into account. we have a slew of indicators in singapore, - into account. we have a slew of indicators in singapore, hong i indicators in singapore, hong kong and china, let's start getting through everything we're expecting later today and singapore will produce some of these ratings are consumer prices and energy and food costs. and on tuesday — a gauge on how busy, or not, hong kong ports have been, when we get trade data for the month of august. rounding off the week — a private survey on manufacturing activity in the world's second largest economy for september. the official government survey revealed a surprise expansion in august. earlier i spoke to financial analyst olivier d'assier who told me that it's too soon to say whether the chinese economy has bottomed out. there are a couple of things, jan there are a couple of things, jen is— there are a couple of things, jen is a — there are a couple of things, jan is a big exporter and in the — jan is a big exporter and in the past _ jan is a big exporter and in the past numbers, we have seen that stock— the past numbers, we have seen that stock markets underperforming for three consecutive years and things

dropping by about 50% and size of last— dropping by about 50% and size of last year and also, a lot of risk— of last year and also, a lot of risk being _ of last year and also, a lot of risk being involved in the stock— risk being involved in the stock market. the authorities are hot— stock market. the authorities are not working on the third consecutive stimulus plan that clearly — consecutive stimulus plan that clearly expressing some of the issues — clearly expressing some of the issues and the sector. some good — issues and the sector. some good news we've had the first decent — good news we've had the first decent numbers for august and well— decent numbers for august and we'll see — decent numbers for august and we'll see if we can make it two months — we'll see if we can make it two months in _ we'll see if we can make it two months in a row and missing sentiments pick up on those of july and — sentiments pick up on those of july and june sentiments pick up on those of july andjune in sentiments pick up on those of july and june in the home month we've _ july and june in the home month we've been getting better sentiment and there may be a bottom — sentiment and there may be a bottom in— sentiment and there may be a bottom in the making here but it is too— bottom in the making here but it is too early to say we need some — it is too early to say we need some more of this data in a couple _ some more of this data in a couple more months of numbers and we _ couple more months of numbers and we need more details on the stimulus— and we need more details on the stimulus from the government and so — stimulus from the government and so far_ stimulus from the government and so far i think investors are — and so far i think investors are feeling a little bit better than — are feeling a little bit better than they did a few

months ago zooming in on artificial intelligence in china. recent studies indicate there's an uptick in funding for al to be used in areas like security and healthcare services. and consumers appear to be more open to chatbots providing daily services. but our next guest says the boom will eventually wane and the number of service providers will dwindle to a limited few. for a closer look at al in china, we're talking to industry expert yang wang from counterpoint technology market research. ai efforts in china are being pushed in applications like industry and healthcare unlike the wider openai, facebook or microsoft offerings — how is that playing out? you have to think about who the biggest — you have to think about who the biggest actors for the development of this and in china, _ development of this and in china, really comes down to three — china, really comes down to three types of companies, the bil

three types of companies, the big names in these companies are enormous resources and also for data — are enormous resources and also for data and secondly they are in range — for data and secondly they are in range of quite an interest in range of quite an interest in companies and these companies have been the industry for many years and have — industry for many years and have developed cutting—edge engineering expertise and carving _ engineering expertise and carving out there on special areas — carving out there on special areas and research institutes have — areas and research institutes have good prestigious organisations and chinese universities in hong kong is companies of also have great resources and are open to work with— resources and are open to work with all— resources and are open to work with all sorts of different organisations and is quite a wide — organisations and is quite a wide range of development in the development of ai in china and some _ the development of ai in china and some of them are not in the all—encompassing way that we have _

all—encompassing way that we have seen those in the west and more _ have seen those in the west and more prominently and this and the bequests of deviation from what _ the bequests of deviation from what we — the bequests of deviation from what we see but still, it is still— what we see but still, it is still early days. initially we have seen hesitation by chinese regulators about widespread ai applications, has that changed or eased 7 we did see quite a wide range of crackdowns the past few years — of crackdowns the past few years but they've been making graduat— years but they've been making gradual progress in terms of ai regulation starting from march 2022 _ regulation starting from march 2022 with algorithmic recommendations and ethical reviews — recommendations and ethical reviews and finally, this year they— reviews and finally, this year they are _ reviews and finally, this year they are pretty authoritative generative ai regulations and industries that actually they have — industries that actually they have a — industries that actually they have a role to play in chinese

tech — have a role to play in chinese tech and _ have a role to play in chinese tech and also within the context— tech and also within the context of chinese us tech rivalry— context of chinese us tech rivalry and ai is seen as the pivotal— rivalry and ai is seen as the pivotal role in the next stage of development.— pivotal role in the next stage of development. that is all the time we have _ of development. that is all the time we have but _ of development. that is all the time we have but thank- of development. that is all the time we have but thank you . of development. that is all the l time we have but thank you very much for giving us the perspective. it was a treat for indian motor enthusiasts this weekend as one of the world's biggest motorcycle championships — motogp debuted in the country. the rising popularity of the sport in india is opening business opportunities for the makers of premium motorcyles. archana shukla reports. the engines, the cheers and if the adrenaline rush. the premier high—speed motorcycle racing event was in india this week. , ., , ., week. purely to understand the 'o of it, week. purely to understand the joy of it. peeple _ week. purely to understand the joy of it, people enjoy - week. purely to understand the joy of it, people enjoy it. - joy of it, people enjoy it. watching it here in india, this

is a _ watching it here in india, this is a dream _ watching it here in india, this is a dream come true for us and iam— is a dream come true for us and i am absolutely thrilled. the timin: i am absolutely thrilled. the timing for — i am absolutely thrilled. the timing for india _ i am absolutely thrilled. tie: timing for india hosting its first ever motor gp racing is significant. it is the worlds largest two wheeler market that is in a strong demand for premium and high—end motorcycles. it is also giving manufacturers a good run in the market. the motorcycle sold in partnership with local areas has been popular among young writers in india. there are not targeting those who can afford to pay more for a top and bicycle. to pay more for a top and bi cle. , to pay more for a top and bicycle-— to pay more for a top and bi cle. , , ., , bicycle. these events are very fundamental _ bicycle. these events are very fundamental to _ bicycle. these events are very fundamental to brands - bicycle. these events are very fundamental to brands like . bicycle. these events are very | fundamental to brands like us, we live — fundamental to brands like us, we live and _ fundamental to brands like us, we live and breathe _ fundamental to brands like us, we live and breathe on- fundamental to brands like us, we live and breathe on eventsl we live and breathe on events like this— we live and breathe on events like this because _ we live and breathe on events like this because a _ we live and breathe on events like this because a lot- we live and breathe on events like this because a lot of- like this because a lot of locai— like this because a lot of local purchases- like this because a lot of local purchases by- like this because a lot of- local purchases by customers are driven _ local purchases by customers are driven by— local purchases by customers are driven by what _ local purchases by customers are driven by what they- local purchases by customers are driven by what they are l are driven by what they are seeing _ are driven by what they are seeing is _ are driven by what they are seeing is the _ are driven by what they are seeing is the achievementl are driven by what they are i seeing is the achievement of the brand _ seeing is the achievement of the brand as _ seeing is the achievement of the brand as an— seeing is the achievement ofi the brand as an international scale — the brand as an international scale. a , the brand as an international scale. , ., ., ., scale. many international brands of _ scale. many international brands of move - scale. many international brands of move the - scale. many international brands of move the focus scale. many international- brands of move the focus and

investments towards making high—performance motorcycles in india to local tie—ups and this is also brought down the costs and experts say the most motorcycle taxes are reduced, the road ahead could be long. larger motorcycles and a higher rate of ghp in that makes bicycles very expensive. not affordable to large significant portion of population. so more in terms of moral rationalisation in terms of these factors because that's another big thing on top of the registration.— registration. italian writer one of the _ registration. italian writer one of the top _ registration. italian writer one of the top honours i registration. italian writer one of the top honours in| one of the top honours in sunday's race but for india's automotive industry, the lasting impact will only be felt long after the buzz of excitement is settled.

and that's it for this edition of asia business report. thanks for watching. standing national beauty but the popularity of areas like the popularity of areas like the peninsula for second homes and holiday areas is people who cannot afford to buy them in their own communities. if you are sick in homes and forcing people to have planning permission to own one in the future but it admits that he might lower house prices which could hit current homeowners. will make a feeling why the counsellor doing this to my property and it's very easy to take it personally. they have more control over property use and second homeowners here paying much more council tax and a so—called article for direction to bring in new laws and it says that the future is

crisis please whatever tool it can to let people live in their communities.— communities. the whole viliages- _ communities. the whole villages. we _ communities. the whole villages. we been - communities. the whole l villages. we been coming communities. the whole - villages. we been coming to holida s villages. we been coming to holidays on _ villages. we been coming to holidays on the _ villages. we been coming to holidays on the syria - villages. we been coming to holidays on the syria for- holidays on the syria for years. _ holidays on the syria for years. the _ holidays on the syria for years, the same - holidays on the syria for| years, the same cottage holidays on the syria for- years, the same cottage but now, — years, the same cottage but now. the _ years, the same cottage but now, the council— years, the same cottage but now, the council tax- years, the same cottage but now, the council tax and - years, the same cottage but| now, the council tax and she years, the same cottage but i now, the council tax and she is now, the council tax and she is no longer— now, the council tax and she is no longer ted _ now, the council tax and she is no longer led down _ now, the council tax and she is no longer led down to - no longer led down to holiday— makers - no longer led down to holiday— makers any l no longer led down to - holiday—makers any more no longer led down to - holiday— makers any more at. no longer led down to _ holiday— makers any more at. it holiday-makers any more at. at the holiday— makers any more at. the council decides to proceed with the controversial move it will come into force a year from now.

it cannot be down to one hand one finger at a place neck to be the difference between you going to the round are not missing out on the match. next up missing out on the match. next up is mexico this weekend the first competition stance of the top of the ranking. hello and welcome to sportsday — i'm lizzie greenwood—hughes, the headlines tonight. solheim success in spain as europe retain the famous trophy. wales wallop the wallabies to book the first quarter final

slot at the rugby world cup. and the north london derby ends in a draw but it's far from dull at the emirites. so, we're starting with golf and after a thrilling finale in andalucia — europe retained the solheim cup. home favourite carlotta ciganda turned her match around for the crucial point to make it all square at ia—all with the united states. and because europe were already the holders they keep the famous trophy. jane dougall reports from the finca cortesin course. this week and this just been a roller coaster, it's a cliche but it is true. he started with that terrible morning with a lost all four matches in the

friday afternoon and yesterday they managed to draw level with