the nationals. again has all the rights to business counting the costs of the coronavirus analysts say the outbreak could rapidly weaken global growth the situation is already fragile goldman sachs estimates a modest hit for growth this year while the macroeconomic effects still unclear the near term implications for chinese output of becoming very clear economists say the virus has cost china's restaurant tourism and movie industries $144000000000.00 in losses over the lunar new year holiday casino stocks have slumped the world's gambling capital macau is closing all venues for at least 2 weeks that will cut off the lifeblood of the city's economy. the prospects for tourism in macau are as uncertain as a throw of the dice that one of the territories gifty casinos the virus has seen billions of dollars wiped off the market value of the macau operations of las vegas giants including when m.g.m. and sounds macau was the only place on chinese territory that allows gambling on

the lunar new year is normally a boom period but tourist arrivals from china which is quarantined more than a dozen cities and barred overseas group travel are dwindling. and. chief executive ho yet saying announce the suspension after visitor numbers plunged nearly 80 percent in the past week. macau has recorded 10 confirmed cases of the coronavirus which has killed more than 400 people in china. but how over took vegas and gambling revenues in 2006 and now make 7 times more from gaming than its u.s. rival but gaming revenues have been fooling around macau has been trying to broaden its appeal beyond the rules and back on the tables. for the time being the coronavirus is a nightmare for tourism in macau crosley worried about getting. the kind

of. summer but we believe after the fire it has gotten and they will come back tourism operators are hopeful their luck will turn. when china stays as the whole world catches a cold he asian superpower is now intrinsically a maced within the global economic system and the corona virus is a case study in that in recent days global stocks have plunged on fears the disease could impact companies bottom lines we're seeing a rebound almost exchanges today but the oil industry hasn't escaped the contagion demand in china has dropped by about 3000000 barrels a day as factories close operations and airlines canceled flights this is called so prices slide in the past month the price of bring crude is full of about 15 percent prompting the world's oil cartel opec to consider for the production cuts well today we're seeing a slight recovery in the cost of crude but sure if that's a sign of what's to come let's bring in joseph gottschall

a he's head of oil and gas analysis at fitch solutions so someone sneezes suddenly oil prices. just explain that 1st of all this china connection with the rest of the world. sure no problem what we see going into kind of the end of 2019 was a stabilization in china's economy that was in due in part to the signing of the u.s. china trade deal which kind of reassured markets and kind of provided some stability for the economic outlook for china sue for 2020 we know we had some. issues potentially with growth but we figured that the chinese economy would stabilize but coronavirus is really not china back the imports as you mentioned earlier $3000000.00 barrels in january down from the month before those are really

the issues that we're looking at now so the questions around how the coronavirus will impact chinese demands are becoming more clear cinna pac and other independent refiners have reduced the amount of crew that they're refining. and that's really an indication of weakening demand and you know the key question mark is that uncertainty around how long the impacts from coronavirus will impact the the wider economy and then also maybe some of the 2nd order effects quantum is nearby as well as globally and what do you think those of you think a fish will cuts in oil production is this is that. from an optics standpoint i think the narrative that opec would want to support is that they are committed to managing the market and that would help support oil prices but as far as meeting the kind of demand that's been eroded in january of 3 1000000 barrels i think that would be quite difficult for opac to do given their kind of

current cuts as well you know we have other outages globally libya currently has about 900000 barrels off the market so that's helping a lot as far as the the narrative that markets will look for in terms of the settlement i believe that opec will have to take some action to kind of stem the potential for prices to fall further just briefly i think it's interesting to note the top oil exporter saudi arabia is saying that psychological factors are driving the impacts of the buyers in the oil demand do you agree with that well i think there is some sentiment related issues mainly the uncertainty you know that the headline grabbing aspects of some global contagion you know it evokes a lot of. fear and but you know also the idea of the unknown so you know defining the certainty aspect is key but you know with the weakness we saw in china's demand

102019 the kind of modest stabilization we were expecting for 2020 you know there are physical reasons why prices have dropped mainly because of that $3000000.00 barrel per day drop in demand for january sailors you know there is definitely some some sentiment aspect but there is definitely some real physical trade that decreased as a result they will have to leave it there is a gradual thank you very much. thank you for your time cafe pacific is cutting almost all flights to mainland china hong kong based carrier continues to grapple with the repetitions of the coronavirus many airlines from the u.s. u.k. and south korea have already scrapped all chinese flights sometimes like singapore and italy have imposed travel bans data showed 25000 flights to within china are being canceled and civil aviation authority has urged all chinese airlines to keep flying international routes. tony fernandes is one of the aviation

industry's most familiar faces so it came as a shock when the air asia chief executive announced it was stepping aside amidst a bribery investigation authorities are looking into claims that plane maker air bus paid a 3rd company connected to finance $50000000.00 to secure orders. with its slogan now everyone can fly air asia has one of the best known brands in asian aviation but now the carrier is at the center of a corruption probe individuals associated with their boss were reportedly paid to security as their asia on its long haul unit area x. . c.e.o. tony fernandez an executive chairman. will step aside for at least 2 months as the investigation continues they deny only wrongdoing. the fallout from a bribery scandal is reverberating across the aviation industry airbus agreed to set aside up to 3600000000 euros to settle a corruption probe by authorities in france britain and the us air asia is airbus

is largest customer for single jets. fernandas famously bought the malaysian carrier for one ring given in 2001 he will remain with the airline as advisors. in thailand to brew as dominates the beer market with their brands singha and chang and they've got the lower on their side only those with a capacity of at least 10000000 liters a year are allowed to brew and sell beer in stores that make small businesses practically illegal a number of microbreweries a fighting that. every beer from his tap is an act of rebellion. for 8 years so i trowe has been running an illegal microbrewery on the outskirts of bangkok for a brewpub to be legal in thailand it has to produce at least $1000.00 hectare leaders per year cycle aus open air bar falls far short of that. yes go

get caught 5 problems are right about average. i'd be average or any good mate of good grew in what you're doing is 0 good good for local economy good by the people. in addition to brewing and selling his own beer sikelel teaches other enthusiastic follow his example. tells them to heat the molten water to 70 degrees then the starch will be converted into sugar i might get that far. since launching cheap beer in 2012 such low has had to pay 2000 euros in fines. in theory he could even go to jail for violating the decades old law but his status as a colonel in the thai army seems to protect him from any severe repercussions. over the low. whether we go i'll be waiting for the lobby and i'll be gentle as

they are. i i do this they can object yeah. dish total it can't take that risk the german brewmaster runs a beer hall in bangkok with an annual production of only 120000 liters he's allowed to sell his beer on site but not in stores that privileges reserved exclusively for thailand's industrial scale breweries if they don't we don't like it and we have massive losses in sales because of it but there's just no way around it the penalties are quite a deterrent. officially the law was designed to protect beer drinkers from unqualified amateurs. but derek's total says it's in fact thailand's 2 beer dynasties that benefit the most from the protection. of. let's just say there are certain areas that are run by very wealthy families they have a say and can influence lawmakers to their advantage. of whatever they argue that

they can then invest more pay more taxes and so on and so forth it's a repeat in the chits like lowe's view nothing should stand in the way of free market competition so he continues to build up what he calls an army of home brewers to eventually bring about change to thailand's beer laws. just that businesses.

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is it or use life for a girl and i want we've got a problem technology issues delay the results of the democrats and the much hyped iowa caucuses with everyone waiting for a winner democratic presidential hopefuls are off to a rocky start also coming up on edge thousands of health care workers in hong kong walk off the job.