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tv   Asia Business Report  BBC News  June 26, 2017 1:30am-1:46am BST

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a passenger boat carrying at least 150 tourists has sunk in a reservoir in colombia taking less than five minutes to go down. at least nine people are reported to have died — and dozens more are missing. the vessel began taking on water during a cruise in the resort of guatape, about 80 kilometres from medellin. colombian air force helicopters and divers have been sent to assist. pakistan's prime minister, nawaz sharif, has cut short a visit to london to return home, after more than 140 people were killed when an oil tanker exploded in punjab province. dozens of others were critically injured. and this video is trending on bbc.com. an airasia x flight was forced to turn back to perth — because of an engine problem which left it "shaking like a washing machine". and the top story here in the uk. brexit secretary geisha —— david
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davis is pretty sure that not certain that the uk can secure a deal with the eu. now on bbc news all the latest business news live from singapore. from high skilled worker visas to import duties, how much can india's prime minister accomplished during his 48 hours in washington? and it has been almost 20 years since the asian prices tripled several economies in this region. we hear from business owners who lost everything. hello and look into asia business report. i'm sharanjit leyl. india's prime minister narendra modi is on a visit to washington. it is his first meeting with donald trump and india us trade has grown to 115,000,000,02016 us trade has grown to 115,000,000,020 16 from 19 billion in 2000. but with rising protection
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in the united states and in particular a crackdown on visas for indians, it is harder to export for india. hoping to get american and tension one stitch at a time. these products are headed to the us. 0ne one stitch at a time. these products are headed to the us. one of the biggest markets for the garment export industry here. some businesses feared that india is no longer a priority for washington but they hope narendra modi's visit will improve conditions. we want us to remove the nontariff barriers. we wa nt to remove the nontariff barriers. we want to promote india as a destination for us customers because we make better quality than china and we may be a bit higher on pricing but we can match it in the near future. it is good like this
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that are a cause for concern for mr trump as he desperately tries to balance us trade. last year, the us rana balance us trade. last year, the us ran a deficit of $23.4 billion with india. that number is too small to have an adverse affect on the us economy “— have an adverse affect on the us economy —— million. the us doesn't seem convinced. the issue is likely to have a lot of attention during mr modi's visit. it hasn't been a easy ride for us companies try to make it big in india is well. some car companies have had success here but other companies like apple and walmart have struggled to access the market. i can be a great product manufacturer and have the finest technology but i need the consumer. it would be silly for a construction company —— consumption country like the us not to look at india as destination market. we will come down to once in three days after
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coming from once in one week. down to once in three days after coming from once in one weekm fast food chain is one of the merry american companies that still want a bite out of the indian market. ——1 of the many. it is known for its oversized burgers and it is competing with others like burger king, wendy's and mcdonald's. the competition has deterred investors who are steaming ahead with expansion plans. india has a lot to offer american companies. mr modi will be pitching to persuade mr trump that there is plenty for indian companies to offer the us. well, in addition to mr modi's visit to washington, we are also watching this this week. on thursday, it will be ten years since the first iphone went on sale in the united states and since then, apple has sold over
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1 billion units of the iphone worldwide. also on thursday, chinese president xijinping worldwide. also on thursday, chinese president xi jinping arrives worldwide. also on thursday, chinese president xijinping arrives in hong kong. he is scheduled to stay until saturday to inaugurate a new leader there. injuly saturday to inaugurate a new leader there. in july the first, saturday to inaugurate a new leader there. injuly the first, 20 years is marked since hong kong was handed back to china by britain. by the end of the week, friday brings a close to the trading session for the end of this year. i was asking what narendra modi might achieve on his visit to the us. i feel at the betrayal of it being low— key i feel at the betrayal of it being low—key since his last visit underlined since the fewer headache —— headlines come out, the better for modi. it is either about visas or outsourcing, it is things they would like to avoid. there will be legitimate things on his agenda and the ace up his sleeve about
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potential building of f—16‘s for india. 0ther potential building of f—16‘s for india. other than that, they don't wa nt india. other than that, they don't want our lot of headlines. certainly, it is a strong visit and a pivot away from china and russia. notjust on spending and technology but also on defence and military commitment in the region, particularly with the resurgence of china. and xi jinping is said to be in hong kong this week marking the 20th anniversary of the handover. the markets respond ? 20th anniversary of the handover. the markets respond? they may. it depends on how much rhetoric comes out of the chinese press around it. they are planning to sell their —— failed their new aircraft carrier into the waters of hong kong so that may be seen as a bit more antagonistic than people might have thought. the bridge has not been a
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good situation. they may play the defence parts down. the fewer headlines that camera out, the better for markets. volatile oil prices, us market at a record high, isa prices, us market at a record high, is a correction due? certainly. we talked about apple a bit earlier. it is about 4% of the snp. the simple fa ct is about 4% of the snp. the simple fact these days is there is so much money in these big tech companies that if anything goes wrong, it won't hurt. 0il that if anything goes wrong, it won't hurt. oil is probably the biggest disappointment so far. with what is going on in qatar and saudi arabia, it is a realflashpoint what is going on in qatar and saudi arabia, it is a real flashpoint this week. the troubled japanese auto parts company ta kata has the troubled japanese auto parts company takata has filed for ba n kru ptcy company takata has filed for bankruptcy protection in the us
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claiming $10 billion in liabilities. trading in shares have been suspended after reports it would make a suspended after reports it would makea similar suspended after reports it would make a similar application injapan. the defective airbag maker ‘s takata have been linked to 17 deaths in several countries and led to the automobile industry's biggest recall and has cost than $9 billion. thailand's central bank floated the thailand's central bank floated the thai bard. it led to a dip in the currency and triggered a wave of financial and economic collapses around the region. all this week, we are looking at regional spots most affected by the financial crisis and we begin in thailand where it all started. jonathan head met with two highflying businesses who met —— who lost everything —— head. defining success these days, how
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good his grilled chicken tastes. his restau ra nt good his grilled chicken tastes. his restaurant serving classic north—eastern thailand dishes is renowned and popular. this business was born out of a catastrophic failure. he showed us the tree where he started 20 years ago. then, just a grill, at table and a few chairs. he had to build the business from nothing after his property company was sunk by the sudden devaluation of the thai bard. translation: i had never prepared myself for something like this. suddenly, the banks could no longer live anything to my customers. —— high baht. ties turned to anger. austerity began to bite. the newly
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impoverished rich started selling their high end cards and watches for quick cash. 0ne their high end cards and watches for quick cash. one man set is this unusual market for second—hand luxury goods. —— set up. today, he is still a dealer and one of the most successful in thailand, selling a lot of vehicles per year. 20 years ago when the baht crashed, he was left with 100 unsalted howzat are lot of newly bought property. -- translation: i started lot of newly bought property. -- translation: istarted buying more ca i’s translation: istarted buying more cars and then all of a sudden business became stuck and they couldn't even sell cars. . it took him five years to clear the backlog. now you have to order. could it happen again? those who were burnt
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with the 1997 crisis save the habits of thrift and caution they learnt are hard to break. in any case, a lot less rational exuberance of these days —— were irrational exuberance. at a growth rate around 396, exuberance. at a growth rate around 3%, the thai economy is more other plodding buffalo than the tiger it once was. let's have a quick look at the market before we go. the nikkei and australia having just opened. that is it for asia business report. banks are watching. —— thank you for watching. you are watching bbc news. the top stories this hour. a boat packed with holidaymakers sinks in a reservoir in colombia. at least nine people have died — dozens are reported missing. pakistan's prime minister nawaz sharif has cut short a visit to london, after the oil tanker disaster in punjab which left at least 150 dead.
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it's more than ten days since the devastating fire at grenfell tower in west london. many of the residents affected by the disaster, have come together to mark eid al fitr, at the end of ramadan. but what should be a time for celebration, has left many reflecting on their loss, as frankie mccamley reports. spilling out onto the of this mosque to pray at on a day of celebration for muslims across the country but here in west london, it is tainted with sadness. for us at the centre and the wider community, sorry, sorry about this... some people would be able to see their relatives for a long time. and even for those trying to help, it's been tough. and we also know the tower block had
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hundreds of residents and maybe also more visitors so the number of missing or dead could be a lot more than just missing or dead could be a lot more thanjust 79. missing or dead could be a lot more than just 79. the mosque missing or dead could be a lot more thanjust 79. the mosque has missing or dead could be a lot more than just 79. the mosque has not only become a place for those affected to collect donations from the public but for some like this man, it is now his home. his wife and two daughters are still missing. he is too upset to talk on camera. in an other show of community strength, this concert is being put on to help bring the community together but as people are arriving and the shock of last week subsiding, anger is growing. people say that questions haven't been a nswered say that questions haven't been answered in the shadow of grenfell tower. two adults, three children, all of them, gone. they put them as missing. they are not missing, they we re missing. they are not missing, they were there and they are dead. all we need is confirmation they are dead.
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a few streets away, another gathering is getting under way. in a community that clearly want something positive to come from this tragic event. a 16—year—old boy has been charged with the rape of an eight—year—old girl in manchester. the attack is alleged to have taken place in a park in the moston area on saturday evening. at least six people have been injured including children after a car collided with pedestrians in newcastle. the car mounted the pavement outside the sports centre. police arrested a 42—year—old woman and they say what happened is not terror—related and within the past hour, she has been released on bail. officials say up to 90 e—mail accounts were compromised, by the cyber attack on the houses of parliament on friday.that‘s about one % of the total number. the attack has been described as a "determined and sustained , " attempt, to identify weak passwords
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for the e—mails of nine thousand accounts, used by mps, peers and their staff. royal bank of scotland is cutting 443jobs in the uk, dealing with loans for small businesses and moving many of them to india. the bank, which is 73% owned by the taxpayer, says it's part of a drive to reduce costs. earlier this year rbs announced it was cutting 250 itjobs in brtitain, and also relocating dozens of them to india. now it is sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: sebastian vettel and lewis hamilton collide behind the safety car at the azerbaijan grand prix — but it's daniel ricciardo who claims red bull's first win of the season.

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