tv Business Deutsche Welle October 21, 2019 6:45pm-7:01pm CEST
lazers goals but how does the country cope with what many call unsustainable production of pommelled. this is business as an office welcome thousands of rich residents in hong kong opening bank accounts in singapore and other financial centers as protest spoken about the territories future international banks including u.b.s. h.s.b.c. and credit suisse all reported shopping creeds and home phone customers opening overseas accounts that's according to the financial times report by goldman sachs shows as much as $4000000000.00 u.s. dollars in capital may have headed to singapore ready because of the ongoing unrest in hong kong. well let's go straight to singapore where our financial correspondent andrea hang is standing by 4000000000 it sounds like a lot of money how significant is this drain for hong kong is that already palpable . it's
a very big deal because you know financial services actually make up a 5th of hong kong's g.d.p. so losing billions of dollars especially to a rival financial hub is going to put a dent in their reputation as well and was still in the financial standing as well with that you know winning its credit rating for hong kong now meanwhile over here in singapore all wealth consultants are receiving an unprecedented number of inquiries from wealthy families in hong kong to not just move their money but themselves and their families to singapore and it's understandable a lot of 8 all of these asian family wealth even families are feeling for the stability all their money in an unstable city but if the the situation in hong kong comes down is it likely that the money will flow back. well the fact that a lot of these clients are looking to start moving their money always shows that the looking for hong kong to suffer for quite
a long time but there's another reason why hong kong wealthy families are upset and that's because of the possibility that home kong might change their legal system earlier than the 2047 deadline that was stipulated now and investors obviously don't want to you know put their money in a place where this is thems may not even exist as long as the expected and stability is very important to such wealthy families. in singapore thank you very much. another chapter in the never ending trade war between the u.s. and china and tariffs again are taking center stage china is seeking $2400000000.00 in retaliatory sanctions against the us hughes in the country of not complying with the w t o ruling dating back to the obama years then the world trade organization ruled that u.s. tariffs on chinese solar panels and some other austria products were illegal to be
removed did not happen now china is every cio to step in and allow for financial restitution. for the 1st time ever china has more startups valued that over $1000000000.00 than the us that's according to data by a market researcher who reported. outof a global total of 494 so-called unique homes 206 of them are located in china 2 ali baba affiliate and financial and right hailing giant d.d. choosing 203 unicorns are still based in the west and although he and be co-working space operator we walk. beaches right out of paradise from the people cultural which is fantastic food oh
well that thailand has long been a tourism hot spot in asia but this year numbers are on the decline in particular the chinese are staying away holiday it has been hit especially hard. for years paddling beach was one of the most popular beaches on to catch thailand's island paradise welcome to millions of tourists every year but this season the beaches felt remain than usual. i think it's since june it's been the same every month it's. coming here for 15 blows seasons of love never seen anything as bad as what it is at the moment local tourist associations say visitor numbers have fallen by up to 30 percent on the island and in particular one of the largest groups chinese tourists one reason is the strength of the bought another is the u.s. china trade dispute which hotel owners believe has made the chinese more cautious about spending money in terms of business it's not good. yeah because you know more
business we we we have more hotels more rooms to say oh you have smartest alone small coffee shop and yes i mean because i need a lady. now thailand is hoping to attract more tourists from other countries like india for example this year 25 percent more tourists came from there the news will thanks to a growing middle class and that could be the solution when it comes to filling those empty hotel rooms. palm oil is a key ingredient in many process has been linked to rainforest destruction as well as climate change that has led the e.u. for example to phase out imports of all 4 biofuel it's raising some eyebrows in malaysia because the country is the world's 2nd largest producer of all the government that now says it is take of efforts to separate sustainable development
for the local industry. every single fruit is valuable yesterday the harvest helpers were here now sod the man hariri is gathering the fruits that fell on the ground they're very bright so he can get more money for them he's the proud owner of a 5 hector palm oil plantation. and i know. i know that europeans think badly of palm oil. but it has so many good sides that you people don't know about. the oil is healthy the trees are robust and we're much more environmentally friendly than people think and. as he carries out his inspection round he gets some news that shocks him the e.u. plans to phase out palm oil based biofuels by 2030 hariri thinks the decision is absurd he says now his fast growing oil fruit will be replaced by sawyer rapeseed
which he calls worse for the environment. palm oil has been called malaysia's golden crop. it's lifted farmers out of poverty and spur the malaysian economy in recent years in the capital kuala lumpur at a meeting of big palm oil companies the e.u. decision was the dominant topic the producers say war has been declared and they have lost. the anti bomb or lobbies are very very strong and very focused one of the problems we face with the empty palm oil lobby is that these lobbies do not make an attempt to differentiate palm oil coming from different from you said nations and we have already always stated that malaysia does it differently at this oil mill the loads of palm fruits arrive by the minute this is production on an industrial scale malaysia is the world's 2nd biggest producer of palm oil after in unusual. the fruit pulp is separated from the kernel to be pressed then the oil
goes to a refinery to be processed into cooking oil or bio diesel. on the outskirts of kuala lumpur lim tech when takes a look at one of the sites that infuriates him this new home construction site was rain forest just a few years ago a unique ecosystem. but although the forestry expert with the organization the rescue is committed to preserving malaysians rain forest he's concerned about the ease attitude. unfortunately palm oil is a fact of life and forests are continuing to be developed now the question is whether or not the e.u. countries in the e.u. will work with the groups in malaysia who are like myself who are trying fighting to save the forests or where the e.u. would just say sorry and disengage and say no the malaysian government has pledged to keep 50 percent of the land covered by natural forest but environmentalists like
lim tech when believe that more forest is making way for plantations than people realize australia alan quantas has completed the longest ever nonstop commercial passenger flight this weekend after 19 hours and 16 minutes the boeing 787 dreamliner landed in sydney it was part of a test to assess how also long haul flights affect passenger jet lag and crew city lost to give the planes fish and fuel range the aircraft it's taken off in new york with a full tank restricted baggage load and just 49 people on board. japan's exports have fallen for the tense consecutive months signs of a deepening impact of the us china trade conflict and its own ongoing dispute with south korea and september overall exports dropped sharply over the same month last year amid slowing business with key trading partners exports to china dropped 6.7 percent and those to be u.s. almost 8 percent and with the u.s.
threatening to introduce levies on japanese cars a future looks even less rosy. for i let you go if you happen to be a person with what i call finished wealth accumulation and if it so happens that you are looking for a new maritime home maybe i'd like to direct your attention to the following offer it's called tranquility and it is on the market again for a reasonable $200000000.00 the super bowl was among the assets of a fugitive financier low tech joe and allegedly bored with money taken from an one a one m. d.b. now closed fund at the center of a multi country multi $1000000000.00 money laundering probe the infamous york is just over 90 meters long has a model clad interior a turkish bath a 20 need a swimming pool of course and the obligatory passage chancy fortunately it's being put on the market by the malaysian government which sees the boat last year
following its pledge to recover all money stolen from the fund so if you have a bit of change. i called it and that's it from me and the business team here and the berlin wall business news lots of background stories and features check outs d.w. dot com slash business also follow us on social media if you don't need to. stay tune to w o here's a quick look at global markets. thank you very much the. mob
the something nice i mean fires came from jurors or didn't move any more than i killed many civilians i mean the irish. coming from eating my father says i was a student i wanted to build a life for myself. but suddenly life became knowledge. providing insights global news that matters d. w. made for mines take a trip on us go christmas market hopping with d.w. in cologne and what in the world. airfare and hotel are included for you and a guest. just tell us which german state is your favorite. what's the most beautiful place in germany. what would you like to explore most to enter check in at g.w. dot com slash travel good luck and enjoy some. you
this is the news line from birth when lebanon's government approved sweeping reforms to meet protesters demands of mass anti a sturdy rally has continued into the night even after the prime minister pledged concrete steps also coming up britain's fig grex it votes put on hold again goes speaker of the parliament refuses to allow a vote prime minister boris johnson's drexler. and recent scandals have taken the shine off of canada's prime minister justin trudeau was a.