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tv   Asia Business Report  BBC News  December 6, 2018 1:30am-1:46am GMT

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a senior executive of the chinese tech giant huawei has been arrested in canada at the request of the us. the canadian justice department said wanzhou meng would face an extradition hearing on friday after being arrested in vancouver, but gave no details of the charges. a full state funeral has been held in washington forformer president george bush senior, who was remembered as a patriot, a statesman and a loving father. an incredible story from brazil marking a breakthrough in fertility treatment. doctors have revealed that for the first time, a healthy baby girl has been born to a woman using a womb transplanted from a dead donor. the woman who received the transplant gave birth to a baby girl two years ago. that's all. stay with bbc world news. and the top story in the uk — scientists in cambridge have completed the world's largest gene sequencing project
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in healthcare, bringing hope of better understanding of diseases and faster diagnosis. people with rare diseases, theirfamily members and cancer patients took part. now on bbc news, live to singapore for asia business report. huawei's finance chief is arrested. the daughter of the chinese technology is founder is being held on canada, suspected of violating us sanctions against iran. opec's uncharted territory, they meet in vienna to face cuts amid pressure at from donald trump. good morning asia, hello world. it is thursday, glad you could join us. we start off with china's telecommunications giant huawei and the companies chief finance officer and deputy chairwoman has been
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arrested in canada at the request of us law enforcement. meng wanzhou faces extradition to america, where she has allegedly violated us sanctions against iran. i have joined with my colleague. what more do we know about her arrest?m joined with my colleague. what more do we know about her arrest? it is important to emphasise that she is not just any executive, important to emphasise that she is notjust any executive, she is the daughter of the company ‘s founder. we can show you the picture of her on the company ‘s website. her arrest in canada was confirmed by the canadian authorities, as well as huawei. she was arrested on the first of december and her bail hearing is set for friday. is interesting we have not heard about it until now. there is a publication ban in effect sought by herself, thatis ban in effect sought by herself, that is why the canadian authorities could not provide us with any more details, but huawei said that the company has been provided with very little information about her charge. we understand is her arrest was
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requested by the us authorities, where she is accused of violating us sanctions against iran. this could complicate relations between the chinese and the americans as they appeared to have reached a trade cruise. apart from this arrest, it also has been about 2k hours for the company. that is right. we just heard the news as bt and out that it won't use huawei equipment in its new network as well as its existing systems as well. as we have been reporting, the chinese company has come under scrutiny in various countries around the world, the us, australia and new zealand have also blocked huawei equipment. if you think that the story sounds slightly familiar, last ub had another tech elegy giant of china, z te, fined by the united states for selling its goods to iran and north korea. the
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company was almost new bankruptcy when the us authorities said that american companies cannot deal with them. it is an ongoing situation. are developing story and we will have more from this macron —— huawei arrest. thank you so much. let's ta ke arrest. thank you so much. let's take a look at the oil market. overnight, opec and non— opec leaders that have been arriving in vienna for a eight crucial meeting. saudi arabia has indicated a need for state reductions in output, but has come under pressure from donald trump to push oil prices lower. last night as he left opec‘s headquarters, and's oil minister said that the cuts have been recommended at that numbers have not been discussed. we have not discussed them. is there are a number? not yet. work in progress. we call it a reduction. this is
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uncharted territory! a lot of pressure from reporters there. our a nalyst told pressure from reporters there. our analyst told us how much global output may be reduced. the number recommended by opec‘s open it is abouti.3 recommended by opec‘s open it is about 1.3 million barrels per day. the recommendation is to cut from that amount into current levels of. will this have an impact on oil prices? it will definitely prop them up prices? it will definitely prop them up from where they are. we have seen prices are down quite a bit in recent weeks, also because of the financial markets tell —— turmoil. and for the expectation that there will be an oversupply next year. how will be an oversupply next year. how will president trump react? will he be disappointed saudi arabia? he will not be happy, he will maintain the pressure but i think opec will cut nonetheless, they need to. will
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the us continued to pump oil production is opec reduces its oil output? yes, us production has been rising quite strongly and will continue rising next year as well. they will follow economics and follow if it makes sense for them. they will produce as much as they can be qatar has said that they will be departing from the oil cartel. what kind of impact will it have? be departing from the oil cartel. what kind of impact will it have ?m has political overtones are. not a direct impact. probably not any impact on opec‘s efforts to restrain. maybe a bit psychological impact. what are your insights? i would say the high 60s to low 70s, it opec cuts about 1.3 or more. the next generation of mobile sealer services moving in an interesting direction. five g is set to be much
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faster and reliable than its predecessor. the agricultural industry is milking this new technology for all it is worth. there is a monitoring system that could revolutionise the dairy business. a very early indicator is when rumination falls. if the end of information comes onto your screen, a phone so you can look at it before it shows proper system —— proper symptoms. your vet might the miles away, but
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you are worried about a cow, you can get it and he will be able to see it in high definition and be able to advise as to what you need to do to look after that animal. the very clear thing that automation and the sensors do is that it measures the cows and the sensors do is that it measures the cows all of the time. it comes onto your phone or onto your pc, wherever you are. you don't even need to be in the building to pick this information up. straightaway, you can see the peak of activity in a cow and you say thatis of activity in a cow and you say that is in distress, need to get back out to the bull. —— that powell. —— that cow. if you have healthy cows they will give you their milk for less cost and in dairy farming, the profit margin are narrow. this technology
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will help to make sure we have a long—term sustainable uk dairy industry. asian stock markets are trading lower at this hour on thursday. that comes on top of losses over the last two sessions on fears about america's economic growth prospects and confusion over the us china trade talks. on tuesday, you have wall street wiping out about 800 points from the dow jones industrial average. us stock markets were closed overnight to markets were closed overnight to mark the funeral of former us president george bush senior. jim mcdonald told me what has been driving these moves are. it is the trade talks that are the biggest concern because the impact, not only economic growth, but to corporate profits, can be very considerable. us economy is slowing, i would describe it as moderating. the chinese officials say they are confident in implementing trade commitments made to the us as soon as possible. won't this ring back confidence among investors in asia?
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it is in the lack of details. there is not a lot of specificity about what is being worked on an agreed two and the process has been very uneven. it is very positive sign that the chinese have come out and said that, but still a lot done before investors can put this in the bank. what about the concern about the slowing us economy and the flattening of the curve and the rate meeting of the said in the third week of december, how does this all play out and could this impact markets? it is a legitimate concern. the economy has been slowing, some of the interest rate sensitive areas like housing have slowed in recent quarters. we think the fed should start to moderate their pace. it is likely that they will raise the december 19 meeting, it should be comforting to the market. the fed is a little easier to deal with. only one person to make a decision. in a trade situation yesterday with two
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different countries making it more public had to. —— more complicated. what are you telling asian investors, will for 2019? growth output is slowing, it should allow the central banks to moderate. in this environment we like credit which has been sold off and we think it will give a good risk adjustment return over the next year. thank you for investing your time with us. you been watching asia business report, bye for now. this is bbc news. the top stories this hour: the global chief financial officer of chinese tech giant huawei has been arrested in canada and facing extradition to the us. a state funeral has been held in washington for former president george bush senior who was remembered as a patriot, a statesman and a loving father. as the debate over brexit continues
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until the vote next tuesday, there are a number of uncertainties. will the prime minister's deal get through? could there eventually be a second referendum, or could the uk leave the eu with no deal at all? our deputy politcial editorjohn pienaar looks at what could happen next. despite all the setbacks and all the defeats, theresa may is battling on, standing by her plan for brexit, maybe against all the odds. but what happens next? well, let's say mrs may wins. that may look unlikelyjust now, but if parliament approves her plan, britain leaves on schedule on march the 29th — an unexpected triumph for mrs may. at this stage, it seems more probable that she loses. her conservative critics may then try, again, to force a vote of confidence in her. and either way, labour will look at tabling a vote of confidence in the government. that would be hard to win. tories and the dup would have to vote for it.
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meanwhile, unless mrs may manages to somehow get a better deal in brussels, the uk would be on course to leave the eu with no deal at all. but the idea of what brexiteers sometimes call a clean brexit is just not that simple any more. mps voted yesterday to give themselves power to decide the country's next steps if mrs may is defeated, and there's no majority in parliament for a no—deal brexit. so, what then? there is support, within both main parties, for negotiating a new deal, outside the eu but close to it — a norway—style brexit, though brexiteers call that brexit in name only, brino, taking eu rules without shaping them, continuing free movement of people in and out of britain. in the end, could parliament simply fail to approve any solution and turn back to the people? well, a general election is one way and it's labour's first choice. it's hard to imagine,
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but even that can't be entirely ruled out. otherwise, the idea that seemed all but impossible until recently may be gaining ground among mps as a potential way to break the deadlock. campaigners call it a people's vote. to most people, it's the idea of a fresh referendum. the home office failed to act on repeated warnings about how its immigration measures would hit the windrush generation. the national audit office accused the departmet of failing to protect the rights of those people — who arrived in the uk at the end of the second world war — and also warned the full scale of the scandal has still not been established. now on bbc news, sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: winning back respect. australia are underway in the first test since the ball—tampering scandal. jose mourinho praises united's heart and soul but counts the costs of his side's mistakes against arsenal. and firmino scores as liverpool's uneaten run rolls on. australia are underway in teh first
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test since the tampering australia are underway in the first test since the tampering scandal last year that led to david warner, steve smith and cameron bancroft being banned from international cricket. the first match in their three—test series with the world number one ranked side india is udneray in adelaide. chris mitchell is there. we will talk about what this means to the country, but what a start on the first day. absolute dream start. a few moments ago, india were 41—4, 15 minutes before lunch in adelaide. it is blisteringly hot and australia have got off to a very warm

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