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tv   Asia Business Report  BBC News  August 21, 2017 1:30am-1:46am BST

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exercise on the korean peninsula. the drills, which take place every year, come at a time of increased tension over kim jong—un‘s nuclear programme and his threat to launch missiles towards the pacific island of guam. the us navy says one of its ships has been involved in a collision with a merchant vessel in the waters near singapore. the uss john with a merchant vessel in the waters near singapore. the ussjohn mccain, a guided missile destroyer, was damaged in a collision with a liberian ship. and this video is trending on bbc.com. it shows what happens if you keep your eyes glued to your phone rather than the road ahead. just look at this moped rider, who fails to notice the massive sinkhole which opened up straight ahead of him. luckily, he wasn't hurt. that's all from me for now. stay with bbc news. and the top story here in the uk: mo farah has won his final track race on home soil. the four—time olympic champion ran to victory in the 3,000m at the diamond league
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meeting in birmingham. now on bbc news, all the latest business news live from singapore. round one of nafta talks wrap up as the us, canada and mexico try to reva m p the us, canada and mexico try to revamp the 20—year—old trade agreement. and find out why an entrepreneur in japan is agreement. and find out why an entrepreneur injapan is staking her future on dna analysis. it is a monday, everyone. glad you could join us for this edition of asia business report. i am rico hizon. the first round of talks aimed at revamping the north american trade agreement, or nafta, ended a few hours ago. the us, mexico and canada
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held meetings in washington, dc and covered more than 200 different negotiation topics. our business reporter has been following this story. a lot of wheeling and dealing, but was there progress made in this negotiation process? based on thejoint statement in this negotiation process? based on the joint statement the countries put out following the first round of talks, it looks as though there was progress in the fact they are committed to coming to a deal by early next year. that is the hope, and they are committed to making sure they are try and achieve that through the next couple of rounds of talks. the next three rounds will ta ke talks. the next three rounds will take place in early september, as well as october, in mexico, canada and the us. the us is warning substantive changes to the nafta agreement, notjust substantive changes to the nafta agreement, not just tweaks, substantive changes to the nafta agreement, notjust tweaks, so experts are saying that when they wa nt to experts are saying that when they want to compress changes that takes yea rs want to compress changes that takes years in want to compress changes that takes yea rs in two want to compress changes that takes years in two months, that will take be difficult to achieve. it is a
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23—year—old trade deal, so president trump says it has been imbalanced and he wants to bring changes to it. and abroad is calling this as the dating game between the three countries involved. which country has —— everyone is calling this a speed dating game between the three countries involved. which country has the most at stake? it is a top priority for the us administration but the issues at stake had to do with things like dispute resolution. what happens when one of the countries, canada, mexico, orthe us, has an issue with dumping or subsidies, how will they resolve that conflict? another thorny issue with all the countries involved has to do with where the products come from, especially cars. and it is not only nafta that president trump wa nts only nafta that president trump wants renegotiated. he also wants a renegotiation of the south korea us trade relationship. looking ahead to what is on the economic and business calendar this week on later today
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thailand will release its gross numbers for the three months until june. first—quarter growth beat expectations but it will be interesting to see how the southeast asian country performs in the second quarter. tuesday, we will get the full year earnings from australian mining giant bhp billiton. the recent swings could impact financial performance there. and on thursday it is the annual meeting of prominent central bankers and finance ministers in the us state of wyoming. this meeting comes as the us central bank, the federal reserve, has raised the cost of borrowing already twice this year and has signalled it will raise rates one more time. the question now is exactly when. and the weak wraps up with earnings from australia's qantas. earlier i spoke with a representative of the london school of economics who says his focus on the annual meeting of central bankers in the us, and what the outcome could be for asia. for
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asian businesses, the cost of funds is important and my cost of funds would be very dependent on what the fed or ecb do. jackson hole is a coming together of central bank governments, as you have said. the economic backdrop right now is one of cautious optimism. no one is talking about disinflation any more so talking about disinflation any more so it looks like demand is picking up so it looks like demand is picking up at least sickly glee. so the question is one of assessing how sustainable is the current update —— cyclically. but if we see another rate hike, this will raise the cost offunding. rate hike, this will raise the cost of funding. it is a surgical operation and the surgeons are meeting in wyoming. it will raise the cost of funding. over to japan, which has one of the world's lowest start—up rates and an even lower number of female entrepreneurs.
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generally japanese women who set number of female entrepreneurs. generallyjapanese women who set up their own businesses tend to be in predictable industries such as fashion or beauty but our correspondent tracked down a female entrepreneur who took the road less travelled and set up a business analysing people's dna. a typical networking event for japan's entrepreneurs. despite the government's effort to encourage more women to go into start—ups, it is mainly made. this 28—year—old stands out. she is the founder of a company ina stands out. she is the founder of a company in a very unusual industry, analysing people's dna. less than i% of japan's population has analysing people's dna. less than i% ofjapan‘s population has had their dna tested to find out what kind of illnesses they might develop in the future. it means almost everyone in japan is her potential customer. so this is the kit that you will
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receive at home. it costs 500 us dollars, and you will get the result in about four to six weeks. the practice of gene analysis is controversial among doctors and industry experts, because there is no proof of its effectiveness to predict future illness. translation: because it is dna, customers tend to think that the results are 100% accurate. you can even end up with two very different results if you use different companies. and controversy use different companies. and c0 ntrove i’sy was use different companies. and controversy was not the only challenge forjunko. translation: i knew my parents would be surprised to hear that i wanted to start my own company. i thought they would probably object to it, so i didn't tell them for six months after i founded gene quest. you feel your face discrimination because of your
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age and your gender?” face discrimination because of your age and your gender? i sometimes get treated like what is this young woman doing? but as a result people remember me more, so woman doing? but as a result people remember me more, so being a young female ceo is notjust a disadvantage. shoko has managed to ove rco m e disadvantage. shoko has managed to overcome the challenges of being a young female entrepreneur by ignoring her critics, something that most women here still don't feel co mforta ble most women here still don't feel comfortable doing in this mail dominated society. you might be familiar with this saying. only two things are certain in life, death and taxes. well, this week we are looking at the economics of death. how much does it cost and who covers the bill? and we are starting our coverage in new york. it is no secret that real estate prices in the big apple are among the highest in the world, and guess what. it is a similar scenario for those planning on residency six feet under. our correspondent went to find out more. deals worth dying
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for? not in brooklyn. in a city where land is at a premium, it may come as a surprise that even cemeteries are pricing people out. this cemetery still has room to grow but they are also trying to maximise the space they already have. we wa nted the space they already have. we wanted to provide the people of brooklyn especially with an option where they can have affordable burial, and in their own neighbourhood. at a $2400 per square metre, this is some of the priciest land anywhere in the city. it is just like buying real estate, location, location. a grave which will bury three people, and we bury one on top of the other, can start as low as $4500 and can go as high as low as $4500 and can go as high as 18,000, depending upon the location. 1-way people are avoiding the hefty pricetag associated with a 7.5 metre plot is by cremation. something which is on the rise here in new york. it still leaves the question of what to do with the
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ashes. this is a little, little closer to the new york border. jozsef sources granite from around the world to make tombstones, mausoleums and grave markers for pets. it is very expensive to bring something in from south africa. correct, it is very heavy and very laborious. people may be cremated more, but ashes are often left in the closet and forgotten. we are working with a cemeteries to create programmes very close to fishing, to have people's cremated remains buried in the cemetery, a place where families can gather and there isa name where families can gather and there is a name on the wall. if that name is a name on the wall. if that name is not inscribed on the stone, you're never here. the cost of burial is going up as land is being used for other things but in a place like new york it is hard to put a price on being remembered. let's have a quick look at the markets. as
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you can see, on our screens at the moment, flat and lowerfor most asian markets. still being impacted by the barcelona deadly attack and deepening concerns over us president donald trump's economic agenda. the nikkei 225 down by seven points and the all ordinaries index giving back 47.5 points. the dollar fell against a basket of currencies, as continued uncertainty over the economic agenda of president trump pushed investors out of the us dollar. thank you so much for investing your time with us. iam rico much for investing your time with us. i am rico hizon. much for investing your time with us. iam rico hizon. goodbye much for investing your time with us. i am rico hizon. goodbye for now. the top stories this hour: thousands of troops are beginning a huge military exercise, as tensions remain high on the korean peninsula. us. navy ship has collided with a
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vessel near singapore. a search and rescue operation is taking place. a british paramedic who was injured while trying to help victims of a suspected terrorist attack in finland has denied he is a hero, and spoken of his sadness that he could not save the life of one of the victims. hassan zubier is in hospital in the city of turku in finland, after being wounded in a knife attack that killed two women. our correspondent anna holligan has been speaking with him. this wasn't a typical tourist destination, or a capital city. finland's first suspected islamist militant attacker brought terror to a market square in turku, and chose women as his targets. two days ago, hassan was strolling on those cobbles. i heard a scream, a really heartbreaking scream. so i turned around, and there was a man standing over her, stabbing her. the father—of—two was stabbed multiple times as he tried to defend his girlfriend and save a stranger's life. i ran immediately straight to her.
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tried to stop the blood. he tried to stab me, and i kicked him off. he was standing right opposite me, i tried to kick. i kicked him off, and he ran away. he came back, and i didn't see him. i just felt that someone hit me on the back side of the head. and i thought, ok. something's happened, i'm stabbed. i told my girlfriend to get away, run off. he then gave me, i do not know if it was one or two stabbings. i went back to the girl, but her injuries were too severe. it was really bad cuts. so yeah, we lost her. the suspect, an 18—year—old asylum seeker from morocco, who arrived in finland last year, was shot in the leg by police,
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and is now in hospital. an attack described by finland's president as shocking and cowardly has been met with courage and defiance. hassan says he would do it again. i'm not a hero. i'm just a person that can't look away. anna holligan, bbc news, turku. companies selling and arranging pension plans are to be banned from making unsolicited phone calls and sending e—mails and text messages to prospective customers. the government says it is trying to tackle pension scams after fraudsters tricked elderly savers out of nearly £43 million, since the restrictions on how we invest our pensions savings were lifted three years ago. time now for all the sports news in sport today. ramjaun and this is sport today, live from the bbc sport centre.
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coming up on the show: barcelona make a winning start to their la liga campaign on an emotional night at the nou camp. team usa keep a steady hand on the solheim cup with a solid victory over europe to retain the trophy. and grigor dimitrov seals the biggest win of his career of the cincinnati masters. hello there and welcome to the programme. let's start with this evening's football. and emotions ran high in la liga before barcelona's match against real betis. tributes were paid to victims of thursday's terror attack in the city with the barca players wearing messages of solidarity on their shirts. in the match itself, the catalan side took the lead courtesy of alin tosca's own goal. sergi roberto got the second as barca won 2—0. and here's how the rest of the day's results panned out:

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