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tv   Asia Business Report  BBC News  February 14, 2018 1:30am-1:46am GMT

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our top story. the united states is ‘under attack‘, according to us intelligence agencies. a senate intelligence committee has been told that russia is working to undermine us democracy and there is "no doubt" russia will try to interfere in the mid—terms in november. myanmar‘s denial of ethnic cleansing in rakhine state has been called ‘preposterous‘ by the us ambassador to the united nations. nikki haley accused the burmese government of preventing humanitarian access to rakhine in order to hide atrocities committed there by the burmese military. and a popular story on bbc.com, a malaysian newspaper has sparked protest and ridicule by publishing a list on how to spot gay people. according to the article, gay men can be identified by their beards, and lesbians by their fondness for holding hands. activists are warning it could put lives at risk. and the top story here in the uk. the former football coach barry bennell is convicted of more than 30 counts of child
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abuse involving 11 boys. now on bbc news, all the latest business news live from singapore. japan's economy keeps growing but is it running out of steam? all the latest gdp numbers are up next. and could your dna be the key to finding your true love? a new matchmaking app puts the idea to the test. glad you could join us this exciting addition of asia business report. japan's latest economic figures have
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just been released. its gdp grew by half a percent in the last three months of 2017 compared to the same quarter a year earlier. the numbers we re quarter a year earlier. the numbers were a little softer than expected. it is the eighth straight quarter of expansion forjapan‘s economy. earlier, we were told why the economy is building strength. there are some seasonality, some volatility but the big issue is, for the first time in 30 years, it's 30 yea rs, the first time in 30 years, it's 30 years, you've got wages, jobs, the quality ofjobs are improving so the overall environment for consumption is now a positive one. while over the last 30 years, it was a negative one. that's the key point that was driving the steady expansion of japan. driving the steady expansion of
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japan. in the financial markets, there is one word that is making investors shake in their boots right 110w. investors shake in their boots right now. inflation. it is the benchmark which measures how quickly prices for goods and services increase but investors think inflation is on the rise and they expect several banks will raise the cost of borrowing to cool down the economy. basri's wildfires —— while dwyer was caused by expectations that a strong us economy would lead to more rate rises. later today, the us government releases its consumer price number. i asked peter mcguire what he thinks the numbers will show. we are expecting to see a decline for core and cpi rates to 1.9 and 1.7 respectively, down from 2.1 and 1.8. we are expecting to see a downturn in those inflation numbers. it is a wait and see approach. if we don't see a downturn
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but arise, which is something market a nalysts but arise, which is something market a na lysts d o but arise, which is something market analysts do not expect, could this bring back market mayhem?m probably could, there is no doubting that. the market is very centred on a fall that. the market is very centred on afall in that. the market is very centred on a fall in those particular inflation numbers. if we do see a rise, volatility will pick up and we could see a return to what we experienced last week. that will be naturally across all markets, taking on board asia. but if the number is what you expect to be lower than the previous month, could this calm down the markets and clear the way for more gains. certainly the other side as far as what the fed is prepared to do. the market is tipping we will seek to rate rises or possibly three and it's all stemming from inflation
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numbers. you expect two, three or four rate hikes this year, from the us central bank, when will be the first one? the next 60 days, something by april. you may see it sooner. something by april. you may see it sooner. just depends what they are prepared to do as far as voting for it. ratcheting it up relatively quickly. and then that mindset, as far as quickly. and then that mindset, as faras do quickly. and then that mindset, as far as do they introduce that bird rate rise later in the year? shifting our attention to india and citi has banned the use of its card —— cards to purchase bitcoin and other crypto currencies. what is the current standard india regarding these crypto currencies? it is a
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bitter irony on valentine's day because there is no love lost between the indian government and the cryptocurrency. the indian government has earlier linked cryptocurrency trade in india to a ‘ponzi' scheme. two recent budget by the finance minister, there was speculation that could be a complete ban on cryptocurrency in india but now, the government says it is monitoring any tax evasion on cryptocurrency. they are not to be used as legal tender, like money to buy goods in india. there are 11 cryptocurrency exchanges in india. bitcoin being the most popular. after citibank‘s global move to not allow users to use debit and credit cards to purchase cryptocurrency, the indian branch is doing the same.
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it will be a setback but these exchanges in india. devina gupta in india. the us is set to become the country piles ——a world's leading oil producer at some point next year. that is according to the international energy agency which says that cracking bird could lead to the world's biggest economy overtaking saudi arabia and russia. just a few years ago, when the oil price started to slump, because global demand weakened, like the american trucking industry which is based mainly in texas and new mexico, it was on its last legs because it could no longer be profitable. what's happened since is they have gotten more efficient. lots of cost—cutting measures and loads of tracking sites have come back on line and this has led to a huge glut in supply. it's quite good news for america. we saw a shipment of oilfrom the
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news for america. we saw a shipment of oil from the us to the uae and the middle east. the topsy—turvy energy market. what's not good is the supply is higher than the demand. there are still quite of pressure on energy prices and oil prices. in other business news making headlines, sher and the nasdaq listed chinese search engine baidu surging. the firm reported a 2996 baidu surging. the firm reported a 29%jump in baidu surging. the firm reported a 29% jump in quarterly revenues. baidu surging. the firm reported a 29%jump in quarterly revenues. $656 million in profits. valentine's day is here but thanks to the smartphone, keep it now has another is bring to its bow. the on line dating industry is worth $500 million every year and on line users are now spoilt for choice. there are apps which try to find your potential partner, everything from your music taste to your dna. the bbc‘s tom davies hit the streets to
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find out more. tender. tender. i've been known to tender a bit. used tender but i didn't like it. we've all be on tender, of course with all got the apple. too tall, too sporty, to gain. many of the traditional dating websites try to baggy that special someone websites try to baggy that special someone by asking you about your personal preferences. and while experts agree on line dating is good for over an experts agree on line dating is good for overan —— experts agree on line dating is good for over an —— widening the pool, is this the solution to finding mr or mrs wright? the research is now clear that using individual level information for personality, values and preferences, to try to predict who will be compatible in the future, is a losing game. you might just set up people who are similar to them. it is a reasonable hypothesis but no one has the able to find consistent evidence that idea. so if data is not helping us
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to find out perfect partner, howls can be used to cut down soulmates? 0ne firm has the answer and they think love is all about chemistry. 0ne firm has the answer and they think love is all about chemistrylj am think love is all about chemistry.” am one of the cofounders and chief executive officer. they're more is dating app that matches people based on genetics. we send you a genetic get. we extract the portion of the dna. you are able to see who you would be attracted to. dna and pheromones are what love at first sight is all about. many of us singletons are pinning our host —— our hopes on love at first swipe rather than love at first sight and although there are more and more apps available, now the problem may be there is just too much to choose from. there is not a lot of love in the
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asia—pacific markets: investors are watching the date which could clear the way for more games but the us markets gaining overnight with the dowjones up by 39 points. american spy agencies say moscow is still meddling in us politics. the us ambassador to the un has called for more pressure on rohingya
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leadership to acknowledge the suffering of rohingya muslims. the uk's longest and steepest series of canal locks, is in desperate need of repair. foxton locks in the heart of leicestershire, is on the grand union canal, but five of the ten lock gates need to be changed, after years of wear and tear. sima kotecha has the story. ten canal locks, all lined up along a steep hill, built in the early 19th century to help control the level of water so that boats could travel freely. now, for the first time in more than a quarter of a century, five pairs of large iron gates are being replaced and it's no easy task. we need a large crane to get them into position in the first place and then we have to get down into the lock, everything has to be drained for us to be able to get in there. the gate itself sits in a pot and there's a pin on the bottom of the gate. that's what it pivots on. for fitting a pair of gates,
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it will probably take us about four days. so this is an old lock gate. you can see where it is rotten. they last around 25—30 years and each one is unique. the one that replaces the old one needs to be identical in order for it to fit in properly. and all this meticulous repair work has a price tag of £200,000. does this really have to happen, do you really have to spend that much money on this? well, yes. we try to get the cost down as much as we can to facilitate the work but we have to make sure that we're preserving the heritage. there are certain things we have to do. so we're replacing oak doors with new oak lock gates. it's grade two listed, it was actually built in the 19th century, is that right? so it makes yourjob even more challenging. yes, we have to get certain permissions before we can undertake any works. so we have to write in detail about the works we need to undertake and then it needs to be signed off and checked by a conservation officer to make sure we're trying
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to preserve our industrial heritage here as much as possible. hundreds of thousands of people visit the foxton locks every year. its picturesque backdrop is part of its appeal. the repairs are scheduled to be completed in march and it's hoped the new gates will help to rejuvenate the site and its surrounding beauty. sima kotecha, bbc news, leicestershire. that's all from me. now it is time for sport today. hello, this is sport today, live from the bbc sport centre.
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coming up on this programme: in the champions league, christian erikksen scores a crucial second away goal as spurs snatch a 2—2 draw in the opening leg of their last 16 tie againstjuventus. at his third winter olympics marcel hirscher at last wins gold, as he claims victory in the men's combined event. and tiger woods talks of his admiration for rory mcilroy as the 1a time major winner prepares for his second tournament since returning from injury. hello and welcome to the programme, where we start with the opening leg ties in the round of 16 champions league fixtures. last year's beaten finalists juventus were held to a 2—2 draw against tottenham and manchester city eased past basel in switzerland. 0ur football reporterjohn bennett told me that mauricio pochetino's side are in a strong position ahead of the return leg in three weeks' time.

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