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tv   Asia Business Report  BBC News  August 17, 2017 1:30am-1:46am BST

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our top story: more resignations as business leaders respond to president trump's comments over the violent protests in charlottesville. a wave of resignations from two advisory panels prompted mr trump to announce that both bodies had been scrapped. there's grief and anger in freetown as authorities are blamed for hampering rescue efforts — at least 600 people are still missing after monday's mudslide. and this story is trending on bbc.com the actor daniel craig confirms he is making his fifth and final appearance as 007 — james bond. stay with bbc news. and the top story here in the uk: the government wants business as usual on the irish border, after britain leaves the eu. the prime minister says people and goods should be able to cross between north and south
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as they do now. now on bbc news all the latest business news live from singapore. a weaker philippines currency is taking its toll on the economy, how will it impact president rodrigo duterte rodrigo duterte infrastructure plans. canada, the us and mexico rehashing the north american free—trade agreement, 23 yea rs american free—trade agreement, 23 years after it went into effect. this is newsday. thank you for joining us. the philippines will be posting growth figures for the second quarter and it is one of the fastest—growing economies in asia
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but it has a weakening currency and concerns over a growing account deficit. rodrigo duterte on a campaign to increase infrastructure spending but he needs funds to do this. we match up with carlos dominguez, the finance secretary. we think it is a very important neighbour and it is important for us to test the market in china so we are coming up to a small issue of $200 million and we just want to sit how well it will be received. —— to see. you are getting these at a time when you're trying to fight your claims against china in the south china sea. isn't there a risk you will give up on these claims in the china sea? absolutely not. we have
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won oui’ china sea? absolutely not. we have won our case in the arbitration court but, as president rodrigo duterte rodrigo said, we will take theseissues duterte rodrigo said, we will take these issues up sometime in the administration but at this point it is important to build confidence in each other. before we tackle the difficult issues that are posed in the south china sea. we are not abandoning any claims but we think, the president thinks, this is time to be more friendly rather than contentious. china is growth is slowing down and the ruck and turns ofa slowing down and the ruck and turns of a debt bubble. many countries who have taken of a debt bubble. many countries who have ta ken loa ns of a debt bubble. many countries who have taken loans from there are now worried of being in debt to china. is the philippines in this position? we think chinese loans can be
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beneficial to us, particularly if we negotiate them in a clever man. , using our national interest is our prime measure as to whether we take the loan or not. nobody is forcing them down our throat and we will look to our interests first. currently it the biggest partner for the philippines is the us. do you see that changing? 0ur the philippines is the us. do you see that changing? our business with the us will continue but probably it will not be as big a part of our economy is in the past. it isn't showing over the years... we used to have only american cars, in the 60s, then suddenly a japanese cars came in. now we are seeing chinese cars coming in, chinese motorcycles. i mean, we have to move with the time. the finance secretary for the philippines carlos dominguez. the
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third biggest economy is showing signs it is bouncing back. numbers arejust signs it is bouncing back. numbers are just released, exports signs it is bouncing back. numbers arejust released, exports rising more than i3% in july arejust released, exports rising more than i3% injuly compared to a year ago. imports were also up more than 16%. the japanese economy is on track to grow at its fastest pace in more than two years. analysts looking at smart phone games, payment and online advertisers. the most valuable company listed in asia is running away with success. but on more than $2.7 billion, up 70% from a year ago. cathay pacific reported its worst half—year loss in at least two decades and says it does not expect to see an improvement for the remainder of the year. it posted a
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loss and is struggling to retain customers. after tumultuous couple of days, donald trump announced he will be spent to business councils after corporate chief executives quit over his remarks are blaming violence in virginia last week not only on white nationalists but also protesters opposing them. the president promised to cut taxes and regulations to help grow us businesses. the start of talks to we negotiate nafta. we was introduced 23 years ago. —— it was. donald trump called it the worst deal ever and vowed to rip it up orfix trump called it the worst deal ever and vowed to rip it up or fix it. donald trump blames the north
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american free trade agreement, a pa ct american free trade agreement, a pact between the us, canada and mexico the sending jobs south of the border. companies taking advantage of cheaper wages in mexico. it is a sentiment shared by robert lighthouse who said that at the start of talks, nafta had failed many americans. aha you minimum wage in mexico is to be looked at. but not so fast according to some. in mexico is to be looked at. but not so fast according to somem in mexico is to be looked at. but not so fast according to some. it is difficult to change wages. wages are pa rt of difficult to change wages. wages are part of the market and we want to keep them that way so it is important that it is a free and you cannot artificially limit or enclose restrictions or the other way around and labour. another potential source of friction is any attempt to
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rewrite the mechanisms through which disputes are resolved, chapter 19, the canadians said this could be a deal breaker. the chief negotiator told me why. it is fundamental because of the commerce department here takes a lot of asia's and countervailing duties which are sometimes are unjust and unfounded and through that mechanism, which is much faster than the world trade organization mechanism, we win and these decisions are reversed so they are fundamental. the canadians came in defending nafta and striking a broadly optimistic tone, contrast that to the us which took a tougher tone. it is a reminder of how politically difficult it is to get trade deals done when the benefits can be brought but the pain caused local. expectations are high for
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alibaba current local. expectations are high for aliba ba current numbers local. expectations are high for alibaba current numbers released later today. china's consumer demand by shopping online has made alibaba the dominant player in that sector with companies. a brick and mortar present for alibaba. also cloud services. finance and logistics. firstly, if you look at the business, there has been very popular and it is going to continue to grow in these quarter. e—commerce, online retail has gone up e—commerce, online retail has gone upfor e—commerce, online retail has gone up for china e—commerce, online retail has gone upfor china in e—commerce, online retail has gone up for china injune and he continues to be significant. alibaba
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has faced a backlash, particularly from luxury retailers, that they have been selling fake goods. will this continue to have a stigma and hurt its earnings? i think it has been resolved when it went into an agreement. i believe that in china this is not affected its sales or reputation. are they still selling counterfeit goods and it has not been regulated? they are taking steps to prevent this. when someone lodges a complain, they respond and do something about it. they are taking steps to address this. alibaba's earnings will be released
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very soon. alibaba's earnings will be released very soon. looking at the asian market... it is a mixed baga. —— bag. terminal in washington and us fed meeting is showing worries about inflation. in the us market... in positive territory. thank you so much for investing your time with us. much for investing your time with us. bye for now. the top stories this hour: more business leaders have resigned from president trump's advisory councils, in response to the violence in charlottesville — he has responded by shutting down those very same councils. there's grief and anger in freetown as authorities are blamed for hampering rescue efforts — at least 600 people are still
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missing after monday's mudslide. thousands of extra care home places will need to be created in less than 10 years, in order to cope with the growing number of of frail older people. of frail older people. researchers at newcastle university say england will need an extra 71,000 home places by 2025, because people are living longer, and many need substantial help in their last years. here's our health editor hugh pym. scroll down to messages for me. you're never too old to learn. ida, who's 92, is being shown how to text at this it class for older people. she feels she's making progress, though sometimes, it's hard to remember everything she's learned. your memory doesn't retain things. sometimes, it gives you a few minutes, then it comes back and — oh, i rememberwhat it was! so, you know, you just have to work hard at that. the aim of the class at the abbey community centre, in north london, is to help
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the learners live independent lives and make some friends along the way. what this new research highlights is that while living longer can bring more opportunities, it can mean declining health and that means a greater need for care. the report predicts rapidly increasing demands on a system which is already under great pressure. the care needs of the over—65s have doubled over two decades. men now require 2.4 years of substantial care on average, women will need three years. so the report says 71,000 extra care home places will be needed in england by 2025, on top of the 220,000 in 2015. care providers say they need to know about official plans before trying to create those places. we need to spend more of as a nation.
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some of that needs to come from individuals and some from the government. what the government most needs to do is come up with a clear strategy. staying fit and staying healthy are the priorities for many in retirement. some will live many years independently, some will need social care but the challenge for them and society as a whole is to work out who will pay for it. hugh pym, bbc news. time now for all the sports news in sport today. hello, i'm tulsen tollett, and this is sport today, live from the bbc sport centre. coming up on this programme: karim benzema scores as real madrid win the spanish super cup against barcelona 5—1 on aggregate. celtic put five past fc astana, as they all but secure a place
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in the group stage of the champions league. and kei nishikori is the latest player to rule himself out until next year after tearing a tendon in his right wrist. hello, and welcome to the programme. lots to get through. we start with the news that real madrid have beaten barcelona to win the spanish super cup, the annual preseason showdown between the league champions and the copa del rey winners. madrid led 3—1 from last week's first leg in barcelona, and the second leg was only four minutes old when marco asensio extended their overall lead. just before half—time, karim benzema made it 2—0 on the night, and that completed a 5—1 aggregate victory for the champions. it's the 10th time real madrid have won the spanish super cup and it's their fourth trophy of 2017. celtic were the night's big winners in the uefa champions league.

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