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tv   Asia Business Report  BBC News  June 26, 2018 1:30am-1:46am BST

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you're watching bbc news. i'm babita sharma. our top story: rescuers are set to resume their search for a youth football team, who are trapped in a cave in thailand. 12 members of the team and their coach went missing when they went into the caves on saturday but were trapped by heavy rain, which flooded the entrance. members of parliament in britain have approved controversial plans to build a third runway at heathrow airport near london — the busiest in europe. prince william continues his tour of the middle east. he has arrived in israel, making him the first british royal to make an official visit to the country. the prince will also visit the occupied palestinian territories. his trip is being seen as a diplomatically sensitive one to the region. that's all from me for now. more to come. stay with us here on bbc news. and our top story here for you in the uk this evening: the senior firefighter who led
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the initial response to the grenfell fire has said he cannot remember receiving any training on when to order the evacuation of tower blocks. more on that to come. but first, hughes sharanjit leyl. —— here is. india hosts a meeting of the asian investment bank, we find out what is on the agenda for china's version of the world bank. and the bank for sex workers in mumbai closes down, leaving many women without a place to safely put their money. hello and welcome to asia business report, i am sharanjit leyl. the asia infrastructure investment bank, which has been dubbed china's version of the world bank, is holding its third annual meeting in mumbai. spurred by the us and japan, it will include representatives from the bank's 86 members, including
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india's prime minister narendra modi. instance, do you know which country is the largest shareholder after china? well, country is the largest shareholder after china 7 well, it country is the largest shareholder after china? well, it is india. and did you know who are the biggest recipient of loans from aiib? again, it is india, receiving $4.4 billion of investments to date. this may be surprising to most, when india has in the past balked at china's ioi road programme. wait, we will aim to bring you that report very shortly. i believe we have, there you go. india's prime minister will be heading from delhi, that is the nation's capital, to the financial capital mumbai to make a speech at the asian infrastructure investment bank, the region's newest and most popularfunding
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bank, the region's newest and most popular funding body. it bank, the region's newest and most popularfunding body. it is bank, the region's newest and most popular funding body. it is a bank, the region's newest and most popularfunding body. it is a golden opportunity to india to try and close the gap in its infrastructure, something that is desperately needed to meet the growing needs of the growing population. india is seeking $2 billion from the bank to build roads, transport and waterways to connect villages and cities they could be some obstacles because of tensions between india and china. india has refused to endorse the one about one road initiative of china, also many in india feel that china could influence the aiib‘s policy when it comes to investment. during his address, the indian prime minister is expected to send a message that this bank is not a long to any particular country. —— belong to. india has been the largest member of the aiib, and the government is keen to ensure that this continues. there's a stark
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warning from the eu and china that there could be a global recession, as they discuss the future of international trade in beijing. they say they oppose protectionist policies, it is all aimed squarely at president trump. one company that has been affected by all of this is harley—davidson. it is shifting production of motorbikes to factories outside of the us, because of donald trump. the eu returned fire with its own trade tariffs and motorcycles were on that list. chris buckler has more. from the more of the engine to the iconic image, harley—davidson seem to have been designed to evoke a sense of americana. but in future, fewer of the famous bikes will actually be made in the usa. wisconsin's best—known business has been targeted for tariffs by the eu as pa rt targeted for tariffs by the eu as part of a tit—for—tat trade skirmish
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started by president trump, and although he has boasted this harley—davidson is... although he has boasted this harley-davidson is... made in america, highly davidson. made in america. the company that he welcomes the big white house is looking to shift much of its production overseas. —— harley—davidson. production overseas. —— harley-davidson. the eu is trying to punish the us for imposing tariffs because they have been involved in unfair trade practices. we are saying enough is enough, it is time to work with eu on fair trade. the european union have focused on all american products, made in the heartlands where the president has sought support, on bluejeans, burban and harley—davidson is. —— bourbon. but the compa ny‘s but the company's days of easy riding had been left behind. in the
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united states, sales have slumped and other countries have become much more important. if you have not been ona more important. if you have not been on a harley—davidson, you have not been on a motorcycle. just last week, the warning that producing their bikes in europe would cost more. of course this will have an impact on price, we will try to make this as painless as possible but no company can fight this alone. in the short term, a harley—davidson now says it plans to absorb the extra cost of $2200 each motorcycle. that could amount to $100 million a year, but their longer term plan of taking production out of the us is worrying some republicans, yet president trump seems determined to move ahead, even if that looks like america going it alone. over half of the american public is low appears to be happy about president trump's economic performance. for the first time since he took office, it is
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cnbc all american economic survey showed that his economic approval rating has actually surged six points to 51%. now, it is that time of yearagain points to 51%. now, it is that time of year again when we can all collectively rant about just of year again when we can all collectively rant aboutjust how expensive asia is becoming because according to the latest cost of living index by consultants mercer, four out of five of the world's most expensive cities, as in cityplace on the screen, right here in the region. the annual cost of living survey of the most expensive for ex pats survey of the most expensive for expats list has hong kong topping the list, followed by tokyo, you have got zurich, but then you also got singapore and seoul, and guess what? beijing and shanghai are also in the top ten. the cost of living survey includes over 200 items, including... so, why does asia keep topping these lists? that is a question i put to a representative
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from mercer. the survey looks at 200 items in various locations, then converting them to a common currency, in this particular case the us dollar, and then comparing the us dollar, and then comparing the cost. we also look at expats because that represents a significant expense for employers who need to deploy expats overseas. tell us, do multinationalfirms really look at least like these and do they influence their business decisions on where they are going to send their workers? to some extent, it helps. this information helps the employers prepare for budgeting and cost management purposes. however, the decision as to whether or not to invest in a certain country is more complex than that, it usually involves a lot of other factors. companies typically will look at the entire ecosystem of the economy to
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decide whether or not to deploy ex pats decide whether or not to deploy expats and to start operations in the country. over to india because a bank that started in the red light district of mumbai has been forced to close down because of the lack of funding. it was an essential part of empowering sex workers eventually, at its impending closure will leave 5000 women without any other banking options. the bbc spoke to some of those women. lets ta ke lets take a quick look at the asian markets. amongst those that are open, japan's nikkei is lower. of course, it is tracking those falls on wall street. all as a result of trade tensions over the new us ta riffs trade tensions over the new us tariffs being threatened. that is it for this edition of asia business report. the top stories this hour: search and rescue teams in thailand are preparing for another day
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of looking for members of a teenage football team and their coach, that got lost in caves after it was flooded by rain. police in india are appealing to the public after false rumours about child kidnapping gangs on social media of led to a series of brutal murders. the seniorfirefighter the senior firefighter who led the response to the grenfell tower fire said he could not remember receiving any training on when to evacuate tower blocks. he was giving evidence tower blocks. he was giving evidence to the public enquiry about the policy of advising people to stay in their flats. policy of advising people to stay in theirflats. our special correspondent lucy manning reports. 720 firefighters, 140 fire engines, and many stories bravery night. at the fire brigade having to answer for its failure to tell people to leave their flats. the evidence i shall give... shall be the truth. michael dowden was one of the first
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firefighters at grenfell and in charge for the first hour. today, it was simply did not have the right training. did you ever receive any specific training on how to evacuate people from higher floors specific training on how to evacuate people from higherfloors in high—rise blocks, who had mobility issues? not that i can recall, no. government and fire brigade guidelines did suggest commanders could change the stated policy and consider evacuations, but mr dutton seemed unaware. what training did you oversee? he paused, the 17 seconds. as a commander, i can't rememberany time that seconds. as a commander, i can't remember any time that i have actually been on a training course that would facilitate that. notice asked, did anyone give you any help 01’ asked, did anyone give you any help or advice in understanding when it might be necessary to have a full evacuation? —— can ijust ask.|j
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never had any input from any individual. he accepted he had not done all the fire safety checks when he visited grenfell tower the previous year. angering families when he admitted he had not examined fire doors, escape routes. he also admitted they had not practised on high—rise buildings and he had not known about his boss's fears about us known about his boss's fears about us the book cladding. do you think you'll be able to identify a cladding fire if you saw one? no, i would not be able to identify a cladding fire because i did not know at that point that that was being used as a building material. in his written witness statement, mr dutton said when he arrived at the fire was quickly out of his comfort zone and was having to make decisions he had never made before. but he said we did all we could, we were all exhausted and did our best. mr dow did not feel well enough to continue his evidence today. he has left
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serious questions for the fire brigade and the way it trained its firefighters. lucy manning, bbc news. i'll be back with you for another of newsday tomorrow. time now for all the sports news in sport today. hello, i'm gavin ramjaun. this is sport today, live from the bbc sport centre. coming up on the programme: iran give portugal a late scare, but the european champions progress — in a tense final group match that was full of var controversy. they'rejoined by spain, who left it late, to snatch a draw against morocco, but again, the video assistant referee played a huge part. and caroline wozniaki is through to the next round at eastbourne, as the world number two prepares for wimbledon and a second major this year.
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welcome to the programme. the video assistant referree is being used for the first time in a world cup and my word it really is hogging the headlines. portugal and spain were both on the end of var. for the european champions, it could have cost them a place
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