tv Business Today BBC News November 19, 2024 2:30am-2:46am GMT
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new delhi's pollution readings hit their highest levels of the winter so far, flights affected and construction work restricted. as a's budget airlines struggle with rising costs, we sit down with the boss ofjetstar asia. welcome boss of jetstar asia. welcome to boss ofjetstar asia. welcome to business today. let's start in hong kong with breaking news. this is the scene, some pictures outside the court where 45 pro—democracy activists are being sentenced in a landmark national security ruling. so far, a legal scholar has been jailed for ten years for subversion, while sentencing is ongoing for the
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other activists. they are accused of trying to overthrow the government by organising unofficial primary vote to select opposition candidates for the legislative council in 2020. 31 pled guilty while the other 1a were found guilty in may. the hong kong markets, the hang seng index up about 0.3% in early trade. stay tuned to bbc news for more on that national security case and we will speak to our reporter outside the court. in the indian capital new delhi, toxic smoke continues to wreak havoc on the city. flights have been diverted, primary schools closed and diesel trucks are banned from entering the city. they are the latest measures to respond to a thick level of toxic smog that has gripped the city. the pollution authority says air quality is at severe levels. a researcher
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specialising in environmental issues explained how the smog could have a big impact on the economy-— could have a big impact on the econom . _, ., . could have a big impact on the econom . ., . , economy. the economic impact is rimaril economy. the economic impact is primarily to _ economy. the economic impact is primarily to do — economy. the economic impact is primarily to do with _ economy. the economic impact is primarily to do with the _ economy. the economic impact is primarily to do with the health - primarily to do with the health of the people and productivity impacted that it has on people. it has costs. but that translates to economic growth, because they are not able to work as much and contribute to the economy. some studies have put it anywhere between 28 billion dollars and $30 billion, about 2% of gdp, not an insignificant figure. i.4% an insignificant figure. 1.4% of gdp, pardon me. india has been looking at the economic dividend of the young population. unfortunately those impacted are the young and productive. the days they are
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not able to work. as a result, some significant consequences. many large enterprises, overseas ones especially, in the capital city, are considering relocating and it is a missed economic opportunity for the country. interesting that you mention it is hitting young people harder. longer term, is hitting young people harder. longerterm, i is hitting young people harder. longer term, i understand you have researched the attractiveness of new delhi as attractiveness of new delhi as a place to live and work and how that might be impacted by this consistently high level of smog. can you talk us through the research?— the research? the annual air auali the research? the annual air quality in — the research? the annual air quality in delhi _ the research? the annual air quality in delhi for _ the research? the annual air quality in delhi for instance i quality in delhi for instance is close to 100 micrograms. the standard in india is about a0. so even on good days, they are not really... inaudible. 0n bad days you can question the choice of making the city your home. delhi is the place where a lot of professions
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thrive, especially those which have interfaces with government, overseas governments, a whole lot of multinationals housed in the outskirts of the city now. making a change away from the city is a big problem. you are not able to trade between your job and good air, which is fundamental to life. the option that most upper and middle income families have is to try to enclose themselves in bubbles, literally, purified spaces. whether it's in offices, restricting the activity of their children, moving around in private transport, presumably with air purifiers, inside cars or taxis. separating yourself from the rest of the world. and that not a sustainable and tenable option in the long run. you can do it once in a while, but is
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it gets to 100 days, it's a problem. it gets to 100 days, it's a problem-— problem. budget airlines account for _ problem. budget airlines account for around - problem. budget airlines account for around a - problem. budget airlines| account for around a third problem. budget airlines . account for around a third of all airline seats globally today, and although asia has seen a robust rebound from the pandemic, low—cost carriers in the region are struggling with the region are struggling with the rise in prices. our reporter sat down with the chief executive ofjetstar asia, part owned by qantas, and asked how they are rising to the challenge.— the challenge. costs are definitely _ the challenge. costs are definitely an _ the challenge. costs are definitely an issue - the challenge. costs are definitely an issue for i the challenge. costs are definitely an issue for a | definitely an issue for a low—cost carrier. if you do the research back to 2005, and see what we were charging for a fare to manila, it was probably about $80. you could probably still get $110 on certain days now, but probably a 30% increase. the majority of other cost in the landscape, the ecosystem, have grown significantly over that. so we need to use technology and innovative ways of maintaining our fleet, innovative ways of maintaining ourfleet, looking after innovative ways of maintaining our fleet, looking after our customers, always with a safety focus. but i think from a
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landscape perspective, it is becoming challenging for a low—cost carrier to continue to see these fairs and costs continue to grow when we are trying to keep the fares under $100. if you made a booking on thejetstar $100. if you made a booking on the jetstar website today to fly to malaysia, you might find a fare of $72, probably $65 of tax in the fair. so at some point, we may need to look at what the fare is, because the margin and the increase impact the sustainability of the route on a long—term basis. [30 the sustainability of the route on a long-term basis.- on a long-term basis. do you have any _ on a long-term basis. do you have any plans _ on a long-term basis. do you have any plans for _ on a long-term basis. do you have any plans for india? - on a long-term basis. do you have any plans for india? we| have any plans for india? we are definitely _ have any plans for india? - are definitely looking at south india. if you look at the rise of the middle class and the change in the centres of demand for traffic, when you think about the capacity shifting in southeast asia and how it operates, probably capacity from china is not back where it was, demand's from china is not back where it was, demands to bubbly not 100% return. we have seen the southeast asian region and
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market get back to almost 100% of capacity, but india is definitely growing, there's definitely growing, there's definitely an opportunity, something we are looking at within our business next year. what you think the outlook is next year for chinese tourists to return?— to return? long-haultraffic will return, _ to return? long-haultraffic will return, it's _ to return? long-haultraffic will return, it's a _ to return? long-haultraffic will return, it's a matter- to return? long-haultraffic will return, it's a matter of| will return, it's a matter of time. it's probably already returning in single digit growth, but we were used to such huge amounts of chinese traffic coming out of china before covid, right? so there is an opportunity for it and i think it will definitely recover.— think it will definitely recover. . ., ., recover. can you deal without the full return _ recover. can you deal without the full return of— recover. can you deal without the full return of chinese - the full return of chinese tourists?— the full return of chinese tourists? ~' ~ tourists? like i said, i think india tourists? like i said, i think india has — tourists? like i said, i think india has played _ tourists? like i said, i think india has played a - tourists? like i said, i think india has played a really - india has played a really important part in helping tourism and countries recover from that shortfall in chinese tourism. i think it willjust be an added bonus when the chinese tourists come back. like i said, they are travelling, but probably not in the same numbers, and some of thatis the same numbers, and some of that is due to capacity. when you have a capacity constricted environment, that drives up
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affairs. ,, environment, that drives up affairs. ., environment, that drives up affairs. ,, affairs. the us carrier spirit airlines has _ affairs. the us carrier spirit airlines has filed _ affairs. the us carrier spirit airlines has filed for - airlines has filed for bankruptcy protection after yea rs bankruptcy protection after years of losses and failed merger attempt. the florida —based airline has agreement to restructure debt and raise money during the bankruptcy process which is expected to last until early next year. operations continue as normal and they say passengers will be unaffected. in southeast asia, a region which benefited from thompson in�*s tariffs in his first administration. the imf found the tit—for—tat paris between china and the us diverted rate of southeast asia, particularly with buying things like electronics. that makes tariffs between china and us. he has promised 20% tariffs on all us imports, 60% if they are from china. we heard what this could mean for economies in southeast asia. arnie this could mean for economies in southeast asia.— in southeast asia. we don't know at least _ in southeast asia. we don't know at least yet, - in southeast asia. we don't know at least yet, simply i know at least yet, simply because we need to know what is the reaction of china to
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potential new tariffs being imposed from the united states. at the same time, whether there would be a shift introduction from china as a way of avoiding high tariffs from the united states to the economies of asean, and that is why the asean, and that is why the asean economies may, if you look at a particular scenario, benefit from high tariffs in china, because production could shift to the asean economies. at the same time, you need to note that many american companies, including tesla, operate in china. what would be the consequence of high tariffs on china when american companies are also going to be hit hard? so they are some of the unknown issues that we need to wait and see. but at the end of the day, protectionism is not good for the global
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economy. not good for the global economy-— not good for the global econom . , .,, , , not good for the global econom . , , , ., economy. given those pledges of 6096 economy. given those pledges of 60% import _ economy. given those pledges of 60% import tariffs, _ economy. given those pledges of 6096 import tariffs, do _ economy. given those pledges of 6096 import tariffs, do you - economy. given those pledges of 6096 import tariffs, do you see i 60% import tariffs, do you see companies like tesla, apple, with factories in china, re—shoring their goods to the us or do you think it will not have an impact? arnie us or do you think it will not have an impact?— us or do you think it will not have an impact? we don't know. auain, have an impact? we don't know. again. some _ have an impact? we don't know. again, some political— have an impact? we don't know. again, some political issues- have an impact? we don't know. again, some political issues in l again, some political issues in the united states, given elon musk�*s involvement in the new administration. as well as the opportunities in other parts of the region. such as the asean economies, we think.- economies, we think. back to hon: economies, we think. back to hong kong — economies, we think. back to hong kong before _ economies, we think. back to hong kong before we - economies, we think. back to hong kong before we go, - economies, we think. back to i hong kong before we go, where economies, we think. back to - hong kong before we go, where a news agency reports that all a5 pro—democracy activists have been jailed pro—democracy activists have beenjailed in a landmark national security ruling. it is outside the courthouse in hong kong. apologies that we can't quite see what we were showing, but a legal scholar has been jailed for ten years. version, while another person has been jailed for 56 months. the hang seng is currently up about
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hey, it's lucy with the catch—up. tonight, huge delays for women's healthcare, professional mermaids and reunited after five years. but first tonight, 2a—year—old harshita brella from corby had her whole life ahead of her. harshita was a victim of domestic violence. she'd been in touch with police, and in september they put a special order in place to protect her. but on thursday, her body was found in the boot of a car in east london. police believe that her husband, pankaj lamba, murdered he
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