hello and welcome to asia business report. i'm suranjana tewari. we begin with the latest twist in the saga that rocked silicon valley this week. confirmation came from openai itself, the artificial intelligence pioneer saying on x it had struck a deal for its co—founder sam altman to be reinstated as its chief executive. the news came just days after the shock announcement that he had been ousted by the firm's board. the debacle has shone a spotlight on some of the biggest players in al and raised more serious questions about how the companies that control the nascent technology are run. earlier i spoke to wei sun, an ai expert from counterpoint research, who told me how the ai community in china has reacted to the news. the whole ai community, at least in china, are sleepless, watching the news and the story

unfolds every minute, and it does make a big impact, because chatgpt is now currently the leading product in the large language models and asia, especially china, is catching up and they are very concerned and keeping updated on the matter. how vociferous is the debate between the so—called �*doomers�* and the people trying to commercialise artificial intelligence here in the region? i think it is somewhere in the middle. people are more optimistic in china about how the large language models and ai technology will bring to the daily lives and make our life more convenient and more productive, but yes, there are some ethical debates and concerns regarding the openai and how the chatgpt or the gpt—s in training, how powerful it is, that it could bring a potential danger to humanity.

are policymakers, governments, are they working to regulate fast enough here in asia? yes, i would think so. the governments are actively involved, and also the academia, the universities are actively involved in the ai ethics exploration, especially in the un side. there is a board formulating and there are some discussions year round about how to minimise the potential risks that ai will bring to bias hallucinations to the consumers, but rather to bring out more positive impact. if you could just give your opinion of what happened at openai — what is your reading of the situation? i think at this moment that sam altman is back in principle, so there are lots to unfold, but i would think that even though everything stays the same, but everything is different.

sam altman and his team will gain more control over the board and also microsoft will likely — will be likely to have one or two seats on the board, so there will be more rapid or progressive product developments regarding to ai and the chat bots in the coming future if sam altman is back to the board and also the board is — the dynamic of the board is completely changing. let's turn our attention to binance now. us prosecutors have asked a federaljudge to ensure the company's founder and former chief remains in the united states until his sentence hearing in february. it comes after cz, as he is known, pleaded guilty to violating anti—money laundering laws. customers of the crypto currency exchange are beginning to worry about how the company will fair if mr zhao ends up facing jail time.

erin delmore has more on the story. binance�*s customers are absorbing the news and they're pulling their funds. the world's largest crypto exchange has seen outflows of around $1 billion in the last 2a hours. that is on the heels of news that its founder and ceo has pleaded guilty to charges of violating anti—money laundering rules and agree to pay a $50 million fine. binance agreed to pay a $4.3 billion fine. us attorney general merrick garland called it one of the biggest penalties ever obtained. the data comes from block chain analysis firm nansen and that billion dollar total does not include bitcoin. the exchange�*s native crypto currency, binance coin, also took a hit in value. mr zhao and his company's guilty pleas and the year—long investigation into binance, but the company continues operating under the leadership of senior binance executive richard teng. binance will also have a government appointed monitor and the company is required to ensure it's in compliance

with us laws and the exchange is still the world's largest, holding more than $65 billion of assets. broad com has closed its acquisition of vm wear after the maker received regulatory approval in the last major upmarket china, ending a month long saga. the deal was one of the biggest when announced last year but it faced tough regulatory scrutiny around the world. china's regulatory approval comes afterjoe biden and xijinping met last week. the pandemic changed how and where many of us work. and as more of us now work from home, demand for commercial property has fallen. all of this has helped to drive

down the amount of money that investors are putting into commercial property in the asia pacific region, according to a new report by global real estate companyjll. earlier, i spoke tojll�*s asia pacific head of investor intelligence, pamela ambler, who told me more about this trend. the biggest theme we are seeing is this repricing pressure that assets are experiencing so what does that mean? because of the high cost of debt, recently, and most markets are pretty much remaining in this price discovery mode, so it means that buyers and sellers are figuring out what is the right price for a specific asset. the buyers now have to leverage higher costs of capital in order to make acquisitions and the sellers are not willing to come down in price, so that gap exists, and it will likely exist for some time until we have a bit more clarity on where the fed is going and where policy rates are going to normalise.

the high cost of cancer drugs in india has proved a major hurdle to many of the 1.4 million people seeking treatment there. now a pooled drug buying initiative set up by a group of hospitals is aiming to slash the cost of cancer treatments by more than 80%. the bbc�*s india business correspondent archana shukla reports. a quiet revolution in india is bringing cancer care closer to home for many, like this man and his wife. after an arduous search for breast cancer treatments in distant metro cities, the three—drug combo his wife needs is now available at a local hospital in their hometown in the far east corner of india at one third the price.

translation: earlier, it cost| $650 for one treatment cycle. i had to sell land to pay. at least now we can afford the full treatment. it's the power of a connective effort. a network of cancer hospitals, including this one in rural assam, has teamed up to buy medicines in bulk, securing up to 85% discounts for some critical drugs. bringing anti—cancer drugs to the poorest has been the toughest challenge in most parts of india, more so for hospitals like this that try to bring cancer care to people from low income backgrounds and in remote, ruralareas. but here, too, the availability of advanced treatments is seen improving now. a pioneer in providing cancer care for the poor, this doctor struggled

in the early days. no drugs companies would commit to regular supplies to smaller centres, but it's different now. the smaller hospitals don't have to get into the negotiation table, the price is already decided. and the cost at which the smaller hospitals will buy the drugs is much, much, much lower than what it would be if they had negotiated directly. from rural clinics to mumbai's top cancer centre, the network saved $170 million on the first drug purchase. negotiating for costly patented treatments, however, remains tough. i think what pharmaceutical companies need to understand is in a market like india, unless you bring costs down, you are not going to get the volumes. it's a chicken or the egg phenomenon. these wards have become homeless for many from far—away towns, and the success of this programme promises to stem this large—scale migration. that's a model other low and middle income countries can

potentially replicate too. archana shukla, bbc news, assam. and that's it for this edition of asia business report. thanks for watching. bbc news, bringing you different stories from across the ukraine.— different stories from across the ukraine. , . , ,. the ukraine. this was the scene last month _ the ukraine. this was the scene last month as — the ukraine. this was the scene last month as the _ the ukraine. this was the scene last month as the storm - the ukraine. this was the scene last month as the storm sweptl last month as the storm swept across wales. but what can be done to protect properties like this from flooding? these defences are part of a project in a flood high risk area. the hope is the walls would contain the water within the river and

help save hundreds of householders from the heartache of flooding. householders from the heartache of flooding-— of flooding. currently there are 223 robert _ of flooding. currently there are 223 robert is _ of flooding. currently there are 223 robert is at - of flooding. currently there are 223 robert is at risk- of flooding. currently there are 223 robert is at risk of| are 223 robert is at risk of flooding during a one in 100 flooding during a one in 100 flood event and that is predicted to increase to over 380 with climate change. the effect of flooding can be devastating. this animal sanctuary is close to the river and regularly blighted by flooding. injanuary and regularly blighted by flooding. in january they had to take one of their dogs flooding. injanuary they had to take one of their dogs for chemotherapy by boat. it is intolerable. _ chemotherapy by boat. it is intolerable. i— chemotherapy by boat. it is intolerable. i had _ chemotherapy by boat. it is intolerable. i had to - chemotherapy by boat. it 3 intolerable. i had to put my elderly mother in a boat to get her home a few weeks ago. push her home a few weeks ago. push her through the water. i have had to put dogs in the boat to get to the car to go to the vet. it isjust get to the car to go to the vet. it is just an absolute living hell. vet. it isjust an absolute living hell.— vet. it isjust an absolute livin: hell. , ., ., living hell. moving is not an 0 tion living hell. moving is not an option for— living hell. moving is not an option for this _ living hell. moving is not an option for this woman. - living hell. moving is not an option for this woman. she | living hell. moving is not an - option for this woman. she says she is trapped. for option for this woman. she says she is trapped-— she is trapped. for more stories from _ she is trapped. for more stories from across - she is trapped. for more stories from across the l she is trapped. for more i stories from across the uk, head to the bbc website.

hey, i'mjulia with the catch up. tonight, a budget breakdown, the israel gaza war and a k—pop update. chancellorjeremy hunt has shared the government's money plans in the autumn statement, but what does it mean? here's sam. every march, the government makes its main announcement about what it's going to spend money on and how much tax we will all pay. today's announcement is like a mini version, but it doesn't mean it's not still important. three important bits — you are paying less national insurance tax from the 6th of january, the legal minimum wage will go up byjust over £1 to £11.44 per hour and the new rate will apply to those over the age of 21. some other stories. israel have reached a deal with hamas, the group that controls gaza, who the uk government have labelled terrorists. hamas will let 50 hostages go in a four—day pause in fighting, in exchange for 150 palestinian women

and children who will be freed from israeli jails. 0penai, the company behind chatgpt, have had a chaotic few days. the co—founder sam altman will return as boss days after he was fired by the board. staff were threatening to quit unless he was brought back. and four crew members of the k—pop band bts have enlisted in the south korean army, meaning they'll join their three older bandmates who are already serving. we leave you with ten seconds of royal recognition. the king has given honorary mbes to the girl group blackpink. he praised them forjuggling superstardom with their support for environment causes. you're all caught up now. see you later.

hello and welcome to sportsday with me, hugh ferris. our top stories: lionel messi says it was insane in the maracana, as he condemns treatment of argentinian fans by brazilian police. ronnie 0'sullivan threatens to quit snooker, saying he's at a crossroads in his career and relationship with the sport's bosses. i have no option.

if i can't do what i need to do, which is play a lot in china, do my stuff out there, i won't ever play again. and novak djokovic says winning the davis cup again is one of his greatest goals, with great britain preparing to upset the world number one. hello again. welcome along. lionel messi says argentina's historic win over brazil at the maracana on tuesday will be marked by the repression of argentinians after the game was delayed because of crowd trouble. both sets of players tried to intervene and restore calm after clashes broke out between fans and brazilian police in rio dejaneiro, scenes messi has described as "insane" and "can't be tolerated." here's ben croucher.

at one of football's most iconic arenas, the sport's