tv Asia Business Report BBC News October 12, 2017 1:30am-1:46am BST
officials say winds and dry conditions could spread the fires, which are among the deadliest in the state's history. more than 3500 homes have been destroyed. the un human rights office has accused the burmese security forces of a systematic policy of brutal expulsion of the muslim rohingya minority that's designed to ensure they never return to myanmar. and this story is trending on bbc.com. allegations against the hollywood film producer harvey weinstein are mounting. a string of high—profile actresses and models have come forward to accuse the movie mogul of sexual harassment or assault. that's all from me for now. stay with bbc news. and the top story here in the uk. the queen will not lay a wreath at the cenotaph as part of this year's remembrance sunday ceremony and has asked prince charles to take her place. now on bbc news, all the latest business news live from singapore.
wall street closes at a record high yet again after further row reserve talks about a possible rate rise. and it's back to work for industry workers in darjeeling, but it will ta ke workers in darjeeling, but it will take a while for a new supplies to be available. find out why. good morning, asia, hello world. glad you could join us on asia business report. the us central bank has released the latest minutes from the september meeting, showing another rate increase is expected by the yea rs rate increase is expected by the years end. 2019 could bring more
hikes, although the decision seems like a sure bet, there are some divisions over where information is headed. i think this is deja vu all over again headed. i think this is deja vu all overagain in headed. i think this is deja vu all over again in the sense that there is this great divide over the prospects of inflation in the us economy. i think that will be an overriding concern, and that is one of the key points from last night. i think the feds are going back to data dependent tangent, but if they are focusing on inflation, the next matrix could be affected by the hurricane fallout, especially in perishables and energy markets, so this once again could muddy the entire landscape again and add more confusion. i would entire landscape again and add more confusion. iwould have entire landscape again and add more confusion. i would have preferred them to come out with a more sensible approach and guide them towards this definitive rate hike in 2017. other business news making
headlines, the crisis around japanese steel manufacturer is deepening as more car, train and aircraft makers reveal that there are investigating their products. the czechs come company admitted it had altered control data for possibly as long as a decade. the problems are rising. yes, toyota, honda, nissan, all investigating their products for potentially defective kobe steel. most used it in its car bonnet, and it is not just the car—makers, playmakers and train makers have used parts as well. you have hitachi saying it used kobe steel in some of its new trains for the railway market in the
uk. and likewise for the plane—maker boeing as well, saying that there has been no safety concerns as yet. and that is what is so terrifying about this crisis, because steel is used in so many different industries from buildings to space rockets to defence equipment, and kobe steel‘s shares have been doing incredibly badly. it is down about a fifth of its value, it has lost $1.6 billion in two days alone in its market value, and those shares continue to decline this morning. thank you for that update. moving on to our next story, and the heir to the samsung fortune will be backin heir to the samsung fortune will be back in court to appeal a corruption
conviction. he was sentenced to five yea rs conviction. he was sentenced to five years injailfor perjury in a high—profile scandal that also took down south korea's former president. the case is expected to get under way at 12 o'clock local time. remind us way at 12 o'clock local time. remind us what happened and what we are expecting from this appeal. cast your minds back to earlier in the year when jy lee your minds back to earlier in the year whenjy lee was accused of bribery, making $40 million of donations to the close associate of the then president, it gets complicated at this point, in return for political favours. complicated at this point, in return for politicalfavours. he complicated at this point, in return for political favours. he denied that but he was found guilty, and was sentenced to five years in prison in august. his lawyers have said that they think that the sentence and the verdict is unfair
and they are going to appeal. today is the first hearing. jy lee is expected to walk into court in the next couple of hours, and the case is expected to draw out until at least the early part of next year, and there may be even more appeals if either side is unhappy with the subsequent verdict. but with him behind bars, how does this impact samsung electronics fundamentals?m has stayed intact and has gone on to launch a new product, and share prices have done well, but it is also about the wider implications. family run conglomerates in korea are extremely powerful and have wielded a great deal of influence. putting jy lee behind bars and giving him the sort of sentence, we
have seen the heirs or company owners put behind bars before, but they generally don't serve out their sentence, they get a slap on the wrist and serve a couple of months. because these companies are so important to the korean economy, it makes up something like 25% of south korea's gdp, samsung, so there has a lwa ys korea's gdp, samsung, so there has always been this choice, they are too important, they will political influence, we will let it slide. but the new president has said that he will make it up reform part of his promises. thank you for that update. and that culture in south korea. tea plantations are slowly reopening in darjeeling, india, home of the
world—famous darjeeling, india, home of the world —famous darjeeling tea. production stopped this year because of ethnic unrest, and that is having an impact on the entire tea industry in india and beyond. we travelled to darjeeling to find out more. after more than a hundred days, these women are back at work. they are pulling out weeds that have grown all over this tea garden. the job is tedious and time—consuming, and as tea plantations begin to reopen, the hard work of getting these estates ready for harvest is just beginning. even though some tea companies have started work, it will ta ke companies have started work, it will take them at least two or three months to train these long weeds that have grown on top of the tea leaves, which means they will be able to start production only after this process is completed. tea pla nters this process is completed. tea planters say they will be above the start supplies from darjeeling only by march of next year. darjeeling produces 8 million kg of tea every year, more than two thirds exported to countries around the world. but
the strike occurred during a key harvest which supplies darjeeling tea to consumers in europe, and is estimated to have cost the region nearly $100 million. translation: this is a major setback for the darjeeling tea industry. this year we have been able to produce only 30% of the crop, and the rest of it was all gone spoiled. it all started when the gurkhas locally revived long—standing demand for a separate state. shops, schools, banks and businesses were shut for more than three months. demonstrations turned violent, killing more than ten people. the strike was called off after they agreed to hold talks with protesters. that stirred mixed feelings from darjeeling's 100,000 feelings from darjeeling's100,000 tea workers. translation: it is good that we can
go back to work and earn money again. but i want our protest to continue. we want a separate state for the sake of our children. i'm very sad that the strike has been called off. we had very little food to feed our families during the shutdown, but we were willing to make that sacrifice to achieve our dream fora make that sacrifice to achieve our dream for a separate state. the disruption is likely to affect customers, too, with the next harvest months away, there are fears ofa harvest months away, there are fears of a shortage of darjeeling tea as stores sell out their current supplies. and when that happens, tea drinkers may have to shell out more money for a sip of this world—famous tea. iam tea. i am ready for my breakfast tea! send it over, please. a quick look no other markets. asia could rise this thursday, that was after the new surged to record highs. us
stocks have gone to surge, another solid corporate earnings season, and potentially another rate hike from the federal reserve by the end of the federal reserve by the end of the year. the dowjones industrial average per dollar 42 points, a record high, and the nasdaq composite index gaining 16. hopefully another positive day for the asian markets. thank you for your time with us. you are watching bbc news. the rise in the number of acid attacks in britain has prompted a response by government and plans to restrict the sales of corrosive substances. experts say that british policy—makers should study the experience of bangladesh, where acid attacks were once commonplace, but new measures have led to a drastic fall. and bangladeshi women are now raising awareness here in britain.
0ur correspondent tulip mazumdar met some of them at a fashion show in london. these women were expected to run and hide from the world after they were attacked with acid. today though, they are doing the opposite. but it has been a long and painful process for them to get to this point. i put lipstick on my lips and i changed my hairstyle. so really looking nice. naha was 15 when she rejected the advances of a teenage boy in bangladesh. then one night he came to her house and doused her in acid. after my attack i started my life off, i had to go back to my studies, but now i'm more confident and i think i cannot change my face but i can change my life. this is your dress, it is beautiful.
sonali was just two weeks old when she was splashed with acid as she slept between her parents. that was over a dispute about land. disfiguring a girl is seen as robbing her of her most valuable asset, her beauty. bangladesh has made some progress, the government there has put restrictions on the sale of acid which has helped reduce the number of attacks to fewer than 100 every year. but countries like india, pakistan, columbia, and uganda, continue to see hundreds of cases annually. and most attacks still go unreported. the uk is also tightening controls on acid sales after a sharp rise in cases here. more than 400 have been reported in less than a year. these were mostly criminal gangs attacking men. with the help of actionaid uk, these women are standing up and standing proud.
showing the world that they are strong and they are defiant. translation: i have come so far after such a devastating attack. we did not lose hope. we did not hide in the house. we want other women to see us and be inspired. tulip mazumdar, bbc news, london. tulip mazumdar, speaking to some of the women who've survived acid attacks. if you want to get in touch with us here at bbc world news, you can do so on social media. i'm @bbckasiamadera on twitter. you can also find us on facebook. time now for all the sports news in sport today. hello, i'm nick marshall—mccormack and this is sport today, live from the bbc sport centre. coming up on this programme. washington have done it —
the nationals have taken chicago to a decider in their baseball division playoff. the kneeling protest that's exposed deep divisions in the usa. now the head of the nfl calls for an end to the controvesy. and world number one rafa nadal makes a winning start in shanghai. hi there, wherever you are around the world. welcome to sport today. in the last half an hour, the washington nationals have have tied their baseball series with the cubs, winning 5—0 at wrigley field. so the series is 2—2 and it goes to a decider on thursday night back in the american capital. trea turner put the nationals ahead 1—nothing off a cubs error. but then the magic happended at the top of the eighth.