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tv   Asia Business Report  BBC News  April 19, 2018 1:30am-1:46am BST

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the two leaders agree that a campaign of maximum pressure must continue until north korea denuclearizes. it comes after president trump confirms his cia director met with kim jong—un on a secret trip to pyongyang at easter. the end of the castro era in cuba. raul prepares to step down as the country's president. he's handing over the baton to miguel diaz—canel. and this video is trending on residents in victorville, california have been facing a very prickly problem. their neighbourhood has been beseiged by tumbleweed. around 150 homes were covered by the bushes after strong desert winds. that's all from me for now. stay with bbc news. and the top story here in the uk: the prime minister apologises again, this time to mp5, for the government's treatment of caribbean migrants. she offers reassurance to the windrush generation
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but continues to face criticism of her time as home secretary. now on bbc news, all the latest business news live from singapore. the us and japan agreed to intensified talks of free, fair and reciprocal trade. anjonathan an jonathan head from anjonathan head from the white sands of barrack i, the island resort that president duterte has vowed to shutdown in a week, he says to save it from ruin. —— baracay. good morning, everyone. glad you could join us for this thursday edition of asia business report, i'm rico hizon in singapore and as you've been hearing, president
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donald trump and prime minister shinzo abe have been holding a joint press c0 nfe re nce shinzo abe have been holding a joint press conference in florida in addition to north korea they have discussed trade and donald trump challenged mr abe in public, saying he wants to narrow the trade deficit. joining me for a follow—up on that press conference is my colleague and business reporter merry to avoid. they have a close relationship, did mr abe get what he wa nted relationship, did mr abe get what he wanted from donald trump? —— mariko oi. not really, a slap in the face for prime minister abe because they have always emphasised how close friends they are, donald trump tweeted again this morning saying they played golf but japan is the only major allied to the us not getting an exemption from those ta riffs getting an exemption from those tariffs on steel and aluminium. prime minister abe talked about this ina prime minister abe talked about this in a press conference, saying japan posed no national security threat but asked by a japanese reporter whetherjapan but asked by a japanese reporter whether japan should get but asked by a japanese reporter whetherjapan should get an exemption, donald trump's answer was a nose. i would look forward to at
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some point in the future take them off but at the moment we have a deficit that is a minimum of $69 billion a year —— no. japan sends us millions and millions of cars and we virtually tax them not at all. we don't send so much product because we have trade barriers and lots of other things. it's interesting how he said that japan sends millions of cars when japanese carmakers do make those ca i’s japanese carmakers do make those cars in america as well, but obviously president trump not very happy about this trade deficit.|j just happy about this trade deficit.” just came back from japan and can those large american cars sit on the streets of tokyo or ozark? let's talk about the tpp, mr abe trying to convince the us president to rejoin the tpp but mr trump once a bilateral trade deal? the tpp but mr trump once a bilateraltrade deal? -- osaka. we're getting mixed messages from donald trump, he pulled out of the
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huge free trade deal shortly after taking office and last week we heard he might consider rejoining but in the press conference he said he prefers bilateral talks. in the end the prime minister really didn't get much out of president trump when it comes to trade. looks like they are poles apart despite their friendship. mariko oi, my colleague and business reporter, thanks for the update. the recent indian cash crunch saw millions of indians unable to draw money from banks and atms but the lack of cash in the system has been a boon for india's largest digital payments company. karishma vaswani, our asia business correspondent, got to know the youngest indian business millionaire. cash... it's what moves the indian economy. in this country ofi billion plus people you don't really have a lot of other options. india's youngest billionaire is trying to
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change that by bringing more people online into the digital age through payments. we will bring half a billion indians to the mainstream of the economy, not just billion indians to the mainstream of the economy, notjust payments and bank accounts but even giving access to lending, capital of credit and insurance and so on. his company is the number—i digital payments player in india but google, amazon and facebook have now joined in india but google, amazon and facebook have nowjoined the fray. we definitely need many more players, we definitely need many more invested dollars in this country to expand the market. my only problem is all these western companies are treating third world markets like india as a money circle market, they don't invest, they want to ta ke market, they don't invest, they want to take the dollars and they don't invest in these countries. it's the strong conviction that has helped vijay rise well above his humble origins. it's personalfor him, he comes from a middle—class family with none of the right connections
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ina with none of the right connections in a country obsessed with status and pedigree. i did not do well with english—language and that gave me an underdog feeling, over the period i have championed being an underdog, one to be the best underdog story out of india. vijay shekhar sharma knows what it's like to be the common man but he has an uncommon vision, to move all of india forward into the modern digital age and he sees clearly the party has to play. what is the personal vision for what shekhar paytm will be in the next five, ten, ten years? in the trigger points from 2015 onwards indian entrepreneurs took a vow to build a world —class com pa ny entrepreneurs took a vow to build a world—class company out of this country and they grew out of their limitations and they grew out of their restrictions put out onto them. i believe we can challenge the
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western economies. india's youngest billionaire, vijay shekhar sharma, sharing his underdog ambitions with karishma vaswani and you can catch the full interview on asia tech tightens on saturday on bbc world news on saturday. 0ne news on saturday. one of the well‘s most popular vacation spots is taking a break from tourists and from next week boracay in the philippines will be shut off to travellers and visitors for six months —— world's. this tiny area of white sands attracted 2 million people last year and the economy generates a fair chunk of revenue from luxury hotels and beachfront restaurants, serviced by tens of thousands of workers, but now a victim of its own popularity and earlier this year president duterte ordered a shutdown of concerns the resort island has become a cesspool, tainted by dumped sewage. joining me live from the
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island of boracay is the bbc‘s southeast asia correspondent, jonathan head. what's the current sentiment on the ground regarding the shutdown, do they feel is necessary? it is hard to gauge, rico. in the philippines under president duterte there's quite a polarised atmosphere and i found a lot of the people i spoke to an nervous about speaking openly, they are nervous about contradicting the president. everybody here accept something has to be done. they accept these problems are long—standing. it's a very small island, massive numbers of tourists come, huge numbers of people, its disputed how many, but well over 30,000 lives on the island over time and the infrastructure hasn't kept up. the sewerage has polluted the seas and that's opposed tourism. some people opposed to the president have said this might make a
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difference, though. people don't understand why it is so sudden. they expected a warning period, maybe six months, which was initially discussed in cabinet, for them to get their act together and start making progress with perhaps the threat of a closure after that but the president suddenly six weeks ago saidi the president suddenly six weeks ago said i want the shutdown this month, they've had no time to prepare for what they will do with their employees and make alternative business plans. they have described their feelings as stunned and shocked and very worried and even with the government offering up to $40 million in assistance, they aren't convinced they will be able to avoid serious hardship for lots of people. 2 million out of the 6.5 million visitors to the philippines went to boracay, and it generates over1 billion us dollars of tourism dollars, so it will be shutdown for six months, $40 million in rehabilitation, but will that be enough to clean up the island?
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obviously not, rico, it's a point i have put to the government as well. they say the six—month break is essential to allow them particularly to widen the maine road, that will help when you have no traffic on it to fix the sewerage system, to get some of the illegal buildings pulled back or knocked down. all that will help people know that is necessary but these obviously long—standing problems. there's no master plan. cabinet ministers are showing to come out with details of what they're going to do but no one knows what will happen after six months, there is talk of limiting the number of tourists and people i've spoken to here say the number of tourists is manageable with a better plan, it's the number of locals living here permanently, maybe there are too many of those, maybe more need too many of those, maybe more need to be on the mainland. the president has come up with this, he's very upset about the water pollution, but there are other factors, rico. upset about the water pollution, but there are otherfactors, rico. there are plans are afoot here to build massive, new, very upscale resorts
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and casinos which we still understand are going ahead, which don't fit in with the island being a low scale and manageable level. nobody is sure what is driving the president to this precipitous action, even though everyone understands something needed to be done. a six-month shutdown for the philippines‘ top vacation spot. joining us live from the island of boracay, the bbc southeast asia correspondent, jonathan head. with that we end this edition of asia business report. thank you so much for investing your time with us. don‘t forget to follow us on twitter. bye for now. the top stories this hour: president trump says a campaign of maximum pressure will continue on north korea until it agrees to complete nuclear disarmament. cuba prepares for the end of the casto era as members of the national assembly name the next president, miguel diaz—canel. the house of lords has inflicted a first defeat
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on the government‘s main brexit legislation by a majority of over 100 votes. an alliance of labour, lib dems, crossbench peers and some conservatives voted to retain the option of a customs union with the eu. the vote prompted claims from brexit supporters that this was an attempt to undermine the referendum result. ministers say they will try to reverse the vote at a later stage, as our deputy political editor, john pienaar, reports. brexit isn‘t always bad tempered, but it is still a struggle, and today the opposing sides in the lords up were up for it. many peers dislike brexit and today it showed, in a push for the government to explore staying in a european customs union. if in the end we do leave, it should be in a way that limits the damage to the country‘s wellbeing and the future of our children, and that‘s why i believe it makes sense
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for the government to be asked to explore customs union. only between 10% and 15% of companies in the country actually do serious exporting, they're mostly medium sized or large companies, and guess what they want? they want access and the best access possible to the closest market, and where's that? the answer was europe, with no customs checks or duties, even if it meant obeying eu rules and no right to strike trade deals around the world. brexiteer peers were having none of it. what is going on here is an exercise by remainers in this house, who are the majority, who refuse to accept the verdict of the british people, and i believe they are playing with fire. and the government was standing firm. by leaving the customs union, by establishing a new and ambitious customs arrangement with the eu, we will be able to forge new trade relationships with our partners around the world. when it came to the vote, the government came off worst. contents 348.
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not contents, 225. so the contents have it. peers voted against government policy and to explore staying in a european customs union. so ministers will ask mps to overturn tonight‘s defeat. not because it means a change of policy inside government, they‘re saying having to explore membership of a european customs union is so vague it might make no practical difference. but there are more struggles to come about the shape of brexit and a final deal. ministers will give no ground to their opponents, if they can avoid it. the shape of brexit, the prime minister and the government‘s authority depends on the outcome. john pienaar, bbc news, westminster. time now for all the sports news in sport today. welcome to sport today live from the
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bbc. coming up. chris smalling puts manchester united on the front foot before from lu ka ku. manchester united on the front foot before from lukaku. novak djokovic makes hard work of it needing ten match points in monte carlo. and the first french winner of the lalone classic in 21 years. welcome to the programme. we start with football from the english premier league. manchester united move four points clear of third placed liverpool after a 2— one win at bournemouth. jose mourinho was happy with this performance. four points clear


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