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tv   Asia Business Report  BBC News  July 11, 2017 1:30am-1:46am BST

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china's most famous dissident, liu xiaobo, who's dying of cancer, is at the centre of a diplomatic row. germany, whose doctors are treating mr liu, has accused the chinese of leaking pictures of him in hospital. and the german chancellor's spokesman has called on beijing to show humanity. the iraqi prime minister has formally declared victory in the battle to liberate mosul from the islamic state group. haider al—abadi delivered a victory speech in which he said he was consigning is to the bin of history. and this video is trending on bbc.com. thailand's prime minister has expressed his disapproval of one the country's most popular singers. lamayi has decided to tone down her act and she's been telling us all about it. that's all from me for now. stay with bbc news. and the top story here in the uk: the parents of the terminally ill
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baby charlie gard accused the hospital of treating him... the hospital of treating him... the hospital treating him of lying to a judge. they say they have new proof the child therapy could help him. now on bbc news all the latest business news live from singapore. india's cattle trade, a major decision looms ahead of one that will affect business and religious communities in india. and it's venue saw growth, we look at the ambitious plans stretched across the 7000 miles between china and the uk —— it's the new silk road. good morning, asia, hello, world, glad you could join us for this tuesday addition of asia business report. i'm rico hizon and we kick off with india were the highest court there will look at the
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government's recent decision to ban the sale of cattle for slaughter through animal markets. their leather and beef export industry said the government move violates the right to free trade. it's a case that could affect the livelihoods of more than 20 million workers across the meat industry. we have more from delhi. india's top court has asked the government for a detailed response with regards to a law that would ban the trade of cattle for slaughter. after widespread criticism, delhi has clarified the new rolls are in that regulation and not banning the sale of cattle. it's said it's willing to amend the law after talking to all stakeholders —— murals. most of india's beef comes from water buffalo rather than cows, which are considered wholly by hindus. many states have banned cow slaughter but at the moment there's no such ban on buffaloes and camels. it would have a massive impact on
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meat and leather industries with animal experts worth more than $4 billion, it's the biggest exporter in the world. it employs millions of people mostly from the muslim community. the decision is expected to affect millions of farmers nationwide who use cattle for things like dairy corruption and ploughing. farmers generally sell the cattle to slaughterhouses after they become old or unproductive. many states are vehemently opposing the law and they have said they will not implement it evenif have said they will not implement it even if it is brought in. the government is expected to give more details in court on tuesday. 0ne silicon valley start—up has now reached the shores of mainland china and its hundreds of millions of customers. stripe, a digital service that accepts payments over the internet, is going against many other companies. they make up 90% of
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the mobile wallet market in china. joining us is the president and co—founder. how big a game changer is best for your business, partnering with these companies? good morning. as you can imagine this is something we have always wa nted this is something we have always wanted to do. stripe provides infrastructure for the online economy, we get businesses to set up and have the tools to accept payments, if you're online you're not just payments, if you're online you're notjust addressing a local market, you are serving notjust addressing a local market, you are serving a notjust addressing a local market, you are serving a global customer audience and one of the things that often holds you back from trading globally is payment infrastructure. we are very excited about the news this week, in an industry first out of the box, they can except all these payment systems without additional integration work. you
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talk about infrastructure, these transactions were mainly done with china based businesses and there we re china based businesses and there were relatively few chinese consumers buying online from overseas because of the lack of credit cards. could this be a problem for stripe? this is exactly the problem we are trying to solve, if you look at the history of internet commerce, in china, a very large mobile commerce market, over half of the mobile commerce auctions taking place are in china but in western countries it is credit card dominant don mike —— dominated. we are trying to fix this so that for western businesses that we support, they can now unlock this very large chinese consumer market. is the profitability of stripe depending on china's appetite for buying products from overseas? yes, i don't think
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that appetite is in doubt. chinese demand for foreign goods is expected to be $150 billion by 2020, we have seen to be $150 billion by 2020, we have seen this pattern growing and we fully expect it to continue. as the payment infrastructure improves chinese consumers have more global options. what is your forecast in terms of transactions over the next two to five years? it's a little ha rd two to five years? it's a little hard for us to sayjust having launched this right now, so we are going to be tracking this very closely over the next few years but there's 4 billion people connected to the internet globally, alipay has 5 billion users and wechat pay has even more so we 5 billion users and wechat pay has even more so we would be surprised if this wasn't a big driver going forward. thanks very much. . the firm is selling more than 90% of
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its 13 tourism projects to a chinese developer for $19.3 billion. its 13 tourism projects to a chinese developerfor $19.3 billion. earlier i asked an expert why wonder is giving up its challenge to mickey mouse. it's sad to hear but this has been a while coming, looking at how they have performed over the last 12 months, their real estate holdings haven't done well, they've seen a drop in revenue. at the same time they have gone without a massive expansion spree overseas and they are carrying debt on their balance sheets and this will be a way for them... why have they accumulated so much debt? they have been opportunistic as a company, they have seen deals they thought were good for their brand image and future revenues, but to do that they have had to borrow a bit of money from major chinese banks. they've
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got $33 billion of debt and that's not sustainable as a business over the long—term to carry that much. what about the buyer, chinese developer sunap, they are buying the estate for $9.3 billion, why would they want to buy these properties if they want to buy these properties if the amusement parks aren't performing well? it's interesting because they are the polar opposite of wanda, sunap has been a residential rather than commercial developer, they've done well over the last year and expanded into new cities cities and generated revenue from property sales so now they looking to move into new segments of the market so for them purchasing commercial real estate at least on paper makes sense. the that remains is can they all wanda manage these properties that generates significant revenue? -- or wanda. china's silk road was an ancient
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trade route that link these to the west and now the chinese president is looking to the past to paint the way for the future with a $1 trillion initiative to build infrastructure in more than 60 countries. carrie gracie has travelled the 7000 mile route from the mainland to the uk to assess what it may deliver. she spoke to me earlier north—west china. this is still very much in its early stages, it's a huge plan, it is all things to all men and women at the moment and it's very hard to work out which bits matter and which don't, but as you know, rico, the main issue here is china building an almost amount of infrastructure, roads, rails, ports, airports, pipelines, using up the excess capacity from its construction companies inside china and the infrastructure building that's gone on in these china over the past 20 years or so, bringing that construction effort to china's neighbours to boost trade at the end
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of the day, sell more chinese exports and create more chinese influence. what are the challenges of this initiative and how is this going to be funded? the challenges are immense and numerous. different in different places. in many other places, just beyond me to the west, central asia, we have questions of instability and questions of corruption. infrastructure projects are hard to keep clean at the best of times, they unfold over long periods of time. if you're dealing with non— transparent government in china and then nontransparent government in its neighbours and partners, then you have a recipe for potentially vanotti projects, projects going wrong and a lot of misallocated resources —— vanotti. that something china's commercial partners are worried about and it is something private business in china is worried about —— that's something. 0ne
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is worried about —— that's something. one of the striking problems president xi has with this initiative is in getting his own private sector on board, it's very much a stake driven initiative at the moment and it's being funded by china's big state banks. they are talking enormous numbers, the $1 trillion you mentioned, how much of thatis trillion you mentioned, how much of that is going to come through and whether it's going to come through for projects which are commercially viable or public goods for their own populations in the long run, that still remains to be seen. carrie gracie on the silk road route in north—west china. thank you so much for investing your time with us. much for investing your time with us. i'm rico hizon. sport today is up us. i'm rico hizon. sport today is up next. you're watching bbc news. the department for education says pay rises for teachers in england and wales will remain capped at 1%, but the independent body which reviews teachers‘ page has warned its making it difficult to attract new recruits
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-- pei. it difficult to attract new recruits —— pei. branwen jeffreys it difficult to attract new recruits —— pei. branwenjeffreys has more. " pay- —— pei. branwenjeffreys has more. —— pay. can teachers‘ pei stretch any further or are the days of 1% pay rises numbered ? any further or are the days of 1% pay rises numbered? schools are beginning to feel the impact. not enough people training as teachers. 0thers leaving afterjust a few yea rs. 0thers leaving afterjust a few years. but can schools afford to give them any more? for young people coming out of university, they look at the pay in various differentjobs and it‘s reducing our ability to recruit them into the teaching profession. i agree with what the school teacher review body said last year, if there isn‘t a pay rise of more than 1%, and i think they need more than 1%, and i think they need more than 1%, and i think they need more than that, during the next five yea rs, more than that, during the next five years, then there will be big problems with teacher recruitment. pay in england has been held down in england. first aid two—year pay freeze meant no increase in 2012 and 2011, then a 1% average pay rise cap
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has been in place like the rest of the public sector. it would cost around £1.6 billion for schools in england to increase pay in line with inflation. teachers pay isn‘t what parents talk about in the playground, but school budgets are and the two are connected because pay, national insurance and pensions all come out of what schools have to spend and it‘s the concern around budget pressures on schools which have helped shift the political compass in the debate about public sector spending. ministers have been singing very different tunes on public pay, but the education secretary hasn‘t called for the pay cap to be lifted. justine greening‘s facing bigger pressures on school budgets. rising costs already mean real terms cut per—pupil. so today no promise of more money for teachers but a warning this can‘t go
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on for ever. the government made it very clear to all the pay review bodies that they should be looking at limiting increases overall to 1% to keep within the government‘s paid targets and spending targets. the politics may have changed a little bit more recently but the work of this review body would have happened over the last several months and there still working within the instructions given to them a year ago. schools are facing growing pressures on their budgets and they need enough teachers to two. a problem today‘s report warns won‘t go away —— enough teachers to two. —— enough teachers to two. call of time now for all the sports news in sport today. welcome to sport today live from the bbc sport centre. i‘m andrew lindsay. here‘s what‘s ahead. muller lights up wimbledon. the 34—year—old has knocked out nadal to reach the quarter finals. garbine muguruza serves
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up a shock of her own, beating the top seed angelique kerber. and romelu‘s a red. lukaku confirmed as manchester united‘s latest signing. hello there. rafael nadal is out of wimbledon after losing the match of this year‘s tournament so far. he took gilles muller into a battle that lasted nearly five hours. but the 34—year—old from luxembourg has the quarter—final place. with the round—up, john watson. they call it manic monday. all fourth round matches played today. eight in the women‘s, eight in the mend, no other tournament schedules are more on the same day. and it was an incredible finish. rafael nadal knocked out, defeated by gilles muller over five gruelling

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