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tv   Asia Business Report  BBC News  October 16, 2018 1:30am-1:45am BST

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the saudi consulate in istanbul where they believe the journalist jamal khashoggi was murdered. president trump is sending his secretary of state to meet the saudi king. he also suggested that ‘rogue killers‘ could be responsible for the journalist's disappearance. saudi leaders have denied any knowledge of what might have occured. a bbc investigation has revealed the extent of chemical weapon attacks in syria. there have been more than a hundred over the last five years — most attacks were carried out by president assad's forces. the duke and duchess of sussex — harry and meghan — have begun their 16 day australia tour. the couple were presented with a few gifts after announcing they are expecting a baby in spring next year. and the top story in the uk. two days ahead of a vital eu summit, theresa may says that disagreement
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over the future of the irish border should not be allowed to lead to a no—deal brexit. now on bbc news live to singapore for asia business report. all eyes on an upcoming report from the us and whether it will name china currency manipulator. a look at what it could mean for relations going forward. and start up in vietnam's is banking on crickets as a source of nutrition. we meet the man behind the business. welcome to asia business report, i am sharanjit leyl asia business report, i am sharanjit leyl. we a re asia business report, i am sharanjit leyl. we are on china watch and the semi— annual report that investigates trading partners manipulating currency. that is due
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out this week. we are looking at whether the us treasury will name china currency manipulator. china is one of six countries on the list along with japan, south korea, germany, switzerland and india. for a come true to be named to currency manipulator, there are three boxes to tick. —— country. a trade surplus, current accounts surplus and a persistent one—sided intervention. what are the implications? here is an analysis from julian evans prichard. it would have political significance, suggesting the trump administration are keen to push hard on china regarding trade but practical implications, not many. the process of formal negotiations with china but it seems likely to hear that
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china will deny the accusation is given they are not even true and that would leave the us side with little recourse apart from the trade actions it is pursuing.” little recourse apart from the trade actions it is pursuing. i mentioned those three criteria in one of them is the huge trade surplus which it currently has with the us. could they potentially still go ahead, politicise the issue as they have done, to label the country a currency manipulator. china doesn't need to the three criteria and they could change this criteria, they've only been around for the past two yea rs only been around for the past two years but it would a political decision because it is hard to see any criteria you can come up with that really would put china in that currency manipulator camp, given that all the evidence suggests that if anything, they need to support the value of the renminbi which should reduce their bilateral
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surplus. let's look at some of the other countries, there are six on the list, but other countries which feel all three criteria. vietnam's, hardly ever mentioned. singapore and hong kong fill two of those criteria. why named? the treasury focuses on the 12 largest us trading partners which is why countries like vietnam get a pass even though they do fulfil the criteria set unclear whether those countries will be mentioned in the current report but if it follows the same procedures as previous reports, those countries get a free pass. in other news, the european boss of ford warns that no deal breaks it could affect its uk future. stephen armstrong added a deal based on the eu— canada deal
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would not work for the carmaker in the uk. ford has two plants which ma nufa ctu res the uk. ford has two plants which manufactures engines and a joint venture making gearboxes in merseyside. sears, the us department store chain which once dominated american shopping malls, has filed for bankruptcy, the companies along with many other traditional retailers from rising on line competition from firms such as amazon. sears has been closing stores and selling properties as it deals with debts of more than $5 billion. it employs 90,000 in the us although that is down from 246,000 five years ago and in its heyday, more than 3000 stores. a recent industry reporters pointed the finger at china as being the biggest state sponsor of the west going
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after commercial secrets specifically. as the founding by crowdstrike, the company which —— which uncovered the russian attack on the democratic national committee. you is what was shared earlier. we saw quite a decline from china following agreements between the us and chinese governments but the us and chinese governments but the report looks at the first six months of this year and one of the big takeaway is was the rise in china really engaging and carrying out attacks in all industries. looking for a lot of intellectual property across a lot of the inclusions. you talk about looking to intellectual property. why are they doing this? it's a shortcut through the research and development process , through the research and development
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process, and helps allow china and other organisations in china to get access to ip that is being developed around the world. it is a dangerous time to market its reduction in costs. it is looking at the research and development process that organisations are going through and learning through their mistakes, coming up with products faster, cheaper, and possibly even better. how successful? they've been tracking a number of different adversarial groups. some have been more successful than others. the big thing we look at is that techniques they use, they are very targeted, very persisted in carrying out tendered goals and in a lot of way, sophistication makes it very hard to a lot of your average organisations in being able to detect and deal with those sorts of problems which is why they look to us. it is world
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food day to day in the aim is to achieve zero hunger by 2030, not easy considering world hunger has been on the rise. several events have contributed to this. the united nations food 0rganisation estimates millions are suffering from malnutrition. 0ne vietnamese start—up thinks the answer may lie in these creepy crawlies. they are crickets and donated to many parts of asia and africa and they are extremely rich in routine and quite sustainable to farm. let's have a look. how is that a tasty snack? let's look at the markets. they are actually higher. there is some bargain—hunting going on. also some buying of energy shares. 0il bargain—hunting going on. also some buying of energy shares. oil prices
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spiking. that despite wall street closing lower. let's take a look at another story, microsoft co—founder paul allen, he has died aged 65 after complications arising from cancer. it was paul allen who convinced bill gates to start working full—time on microsoft, the company that brought personal computing to the masses. he made his fortune at the software giant and according to forbes, he was the 21st wealthiest person in the world beyond a number of top—flight sports teams including the nfl champions and the seattle seahawks. at is that —— that is all for this edition of asia business report. this is bbc news — the top stories this hour. nearly two weeks afterjamal khashoggi, a saudi journalist,
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disappeared in istanbul, turkish investigators have gained access to the saudi consulate. prime minister theresa may calls for calm ahead of crucial brexit negotiations despite differences over the future of the irish border. the energy firm cuadrilla has resumed the process of fracking for shale gas in lancashire. it's the first time it has taken place in the uk since 2011 when the process was linked to two small earthquakes near blackpool. the controversial work involves pumping liquid underground at high pressure to fracture rocks and release natural gas. dozens of protestors gathered near the site as the work got underway today, as our correspondent danny savage reports. waving placards, embedding arms into lumps of concrete. refusing to come down from scaffolding on top of a van, which they chained themselves to. the fracking may have started again but the protests have not stopped. we have to stop using fossil fuels and we need to stop now. i am an old granny, right, but i have to be here
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because it is going to affect our grandchildren and we have to stop it. pamela sloane taught geography locally for more than 40 years and has spent many days here. kids in lancashire are now adults and they know that global warming, climate change is real and this is part of it and we have to keep fossil fuels in the ground. within this site, deep underground, drilling and pumping for gas is now under way. fracking here involves drilling first vertically, then, for the first time in the uk, horizontally. water, sand and chemicals are pumped at high pressure into shale rock, which has gas trapped inside it. when the rock fractures, gas is released and brought to the surface. the company involved says the method is safe and extracting gas is important for our future energy needs. growth in renewables has been welcome but it has been
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confined to the electricity sector and we still use pretty much gas for all of our heating. so, if people want to heat their homes, and a lot of people cook their food with gas, we're going to need it for many decades to come. fracking was pioneered in the united states where it accounts for two thirds of gas production. energy prices have fallen there as a result. the protests here continue against what the fracking company say is the exploratory phase of their work here. any gas found will have to be tested and if cuadrilla, the company that runs this site, want to carry on, there will be more permissions and more licenses. after two minor earthquakes in lancashire seven years ago were linked to fracking, the work here will be closely monitored. if it's viable, the industry has its eye on plenty of other locations. expect protests there, too. danny savage, bbc news, lancashire. now on bbc news, sport today. hello, i'm tulsen tolley,
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and this is sport today, live from the bbc sport centre. coming up on this programme: raheem sterling scores twice in the uefa nations league as england beat spain 3—2 in seville. we look into why athletes from the faroe islands are being refused the chance to represent their country on the biggest stage. and six sixes in an over but still not enough to win the game. hello and welcome to the programme, where we start with uefa nations league football, and the news that spain's 100% record in the inaugural tournament has been brought to an end by england. gareth southgate's side were 3—2 winners in seville, the first time in their history that spain had conceded three goals at home in a competitive international match, with raheem sterling picking up two either side of a marcus rashford goal. watching on was our sports editor, dan roan.
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