let's do business pilgrimages package holiday tours trade fairs and corporate earnings all thrown into disarray the coronavirus carnage continues asian shares taking another hit today but south korea is coming to the rescue with its biggest stimulus package since the global financial crisis the nation has been cut off from the rest of the world just like china remembering it's also a key player in the global supply chains of so many international companies. self korea mobilizing against the spread of the new coronavirus the country has reported the highest number of cases outside china and has launched a massive offensive against the spread of the virus. european and american airlines tourist operators and companies are canceling all non-essential travel to south korea and the region's 3rd biggest economy is expected to take a significant hit the country is also mobilizing financial weapons in the war on coronavirus on wednesday seoul announced

a $9800000000.00 stimulus package to get the economy through the corona crisis i would look she would me be found as we understand that the economy is in a state of emergency we are putting all our policy focus on minimizing the economic fallout especially for the vulnerable sectors small to medium sized businesses and self-employed people away from you know finance minister hong said the supplementary budget will also channel money to childcare outdoor markets and the health system thousands of patients are currently being cared for in makeshift facilities as the ballooning caseload has outstripped hospital capacity. the south korean parliament still has to approve the funding package to government times to present the finalized supplementary budget to the national assembly on thursday. time to bring in andrea hang in singapore early ballots in frankfurt and various starting with you take us through some of the numbers in the region. so ben it

looks like korea is joining the list of countries that are whipping out the a.t.m. cards in order to proper of their respective economies obviously said softly as $9800000000.00 is actually not very far off from singapore as a $13700000000.00 budget that is meant to stimulate the economy our hong kong has also prepared one x. $15400000000.00 closer to singapore malaysia also announced a mole modest budget of $4800000000.00 and indonesia after announcing a $700000000.00 stimulus package is sending a 2nd one with no kin numbers just yet elsewhere in asia pacific australia is a suspected to announce something in the next couple of weeks and pilot as well is going to launch some kind of stimulus budgets with no real numbers just yet a lot of money being thrown around where will it land how will it help well in the

case of korean hong kong for example a big chunk of that is going to health the health and that's for obvious reasons now in singapore is also doing the same and as with hong kong as well a lot of that money is going to directly to the people as well as local businesses in the neediest 2nd expenditure is supposed to prop up trade with easing some of the import export rules because the 1st expenditure is already going to prop up consumer spending and tourism as well and speaking of tourism actually highlight and believe that's exactly what these 2 countries are going to do with their money what sort of action is being taken here in europe ali. so far no action by the e.c.b. it's only promised by way of a statement from the president christine legarde targeted and appropriate action

there's a meeting of the e.c.b. next week i don't know if they feel themselves under pressure with the fed now but we hear that what the e.c.b. is considering is not a broad stroke rate cut like the feds but rather targeted. help for small and medium sized companies let's say similar to korea it sounds like were in trouble and in my mind it would make sense to wait a little bit more as the coronavirus plays out in order to find those who really need that help only what you reckon about the action that's being taken in china and about the fed as well could we see more fed fed action as far as rate cuts go. they still have some room to maneuver in contrast to the e.c.b. where the rates are already at 0 i would be surprised if the fed acted again anytime soon the market reaction was not really very positive and a lot of people criticizing it is overblown i think the fed will wait till other central banks have stepped out and done their part and then see whether it's in

demand again china china hasn't really done anything yet concrete but i think everybody in the market knows and expects that the chinese government has an interest in having money go into the system and government policies to help companies and labor. first in frankfurt and great there in singapore thank you very much to both. well the news is coming in thick and fast as far as as quickly as the coronavirus is spreading the w h o this hour warning that cash can spread the virus italy is planning on closing all schools until mid march germany has joined other nations in banning the export of mosques to to shortages now some other stories making news organizes a postponing the head of a mess so one of the world's largest industrial fairs event is now set to take place in july not april some $6000.00 exhibitors were registered a survey shows the coronavirus is holding earnings at nearly 2 thirds of japanese companies japan's toyota says sales fell 70 percent last month in china the world's

biggest auto market run on toilet paper in australia as well supermarkets to impose strict limits on the amount shoppers can buy the spread of the virus has sparked panic buying of groceries and household products around the world has confirmed 44 cases. thailand is reviewing quarantine measures for visitors from 8 countries yesterday the health minister announced on facebook a 14 day quarantine for visitors from places like china is li and germany but the post was removed hours later and the minister's account disappeared. beijing's decision to ban old group travel was hailed as a sensible step to contain the coronavirus but it's had a global tourism many destinations rely on chinese visitors these days it's no different at one of germany's most iconic landmarks. a light mist partially shrouds the fairy tale castle of noise and the various prime tourist attractions seems

peacefully aloof visitor numbers have been tumbling steadily since the corona virus outbreak. neighboring towns normally host $70000.00 tourists a year from china overall that's only about 5 percent of the people who visit this area but for those hotels restaurants and shops which have specialized in welcoming chinese tour groups the virus has quickly become a real problem. its effects of selective it it's all businesses hotels and guest houses which work closely with the chinese market with chinese group for instance they're feeling the loss of revenue very very strongly and it can't be compensated for it all in the short term. like this restaurant which targets chinese travel grapes it's now closed until further notice. and this eatery and hotel has also shut down for the time being. companies tailor made for asian tourists are

located here and around the castle they include a range of businesses with pottery watches and jewelry made in germany made in switzerland fast tracked shopping tax free and with a direct connection to asian payment systems. tourists like these 2 seem to have very little extra time on their hands. or. cover several countries inside turned it's clear that sightseeing and shopping are on their agenda when you can combine them both in one location and that's a major time gain on the show deal and a huge advantage. it's still too early to estimate losses this 4 star hotel has a broad customer base serving tourists from all over the world less than 15 percent come from china but the increasing number of cases which are. airing in other countries and the mounting number of travel restrictions could become

a problem. when the have a few cancellations of the virus hasn't hit is too hard up to this point and we're hoping it doesn't continue for any length of time and at some point things will stabilize and get back to normal. the high season is only around the corner and everyone here is hoping that the situation will ease by then even if that doesn't look likely right now. on to another topic and the city's growing construction berms one key element is in demand said it's growing in recent years into a multi-billion euro industry but as companies mining many farmers amy and ma say that land is simply disappearing. just a few years ago all of this was lush farmland. says he once had 24 acres of paddy fields along the river in the state of mind me and more now he has just 2 acres

farmers like him point to one big factor sand harvesting ships or look at that that's the same bridging ship over there it's a huge vessel it's quite far away from where we are now it's anchored there and it doesn't work during the day but it goes upstream closer to our farming land in the night time and dredges the sand in the dark so. this farmer says his farmland used to stretch all the way to that little boat. officials say sends 2018 singapore ian companies star high extracted at least 150000 tons of sand star high is allowed to mine the sand from the souring river but their license doesn't put a limit on the amount they can extract. while makers have called for aid for the farmers i've made it as an enemy i only have my hand and pain open the most i can do for them is to raise their voices because i knew the government is responsible

for taking action i'm really concerned about the future of foam as you may be bad for the farmers like sands who say it's impossible to farm their remaining land and make a profit so they are forced to pick up odd jobs like making paul marie verbs and fishing. these farmers and others are demanding compensation for their lost land and greater regulations on sand harvesting boats. nice or business with it.

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but. the be. this is you know we lose live from berlin tear gas and shots fired on the border between greece and turkey week authorities use of force to keep a surge of migrants they've spent days there after being told by turkey you're free to go to europe also coming up turning the tide former vice president joe biden wins big on super tuesday leaving front runner bruce sanders behind him but their recent become the democratic nominee to take on president trump isn't over yet for i was born and mike bloomberg it was.