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tv   Asia Business Report  BBC News  March 12, 2018 1:30am-1:45am GMT

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to remain in powerfor life after the chinese parliament voted to abolish term limits on the presidency. the vote was widely regarded as a rubber—stamping exercise. out of almost three—thousand votes, just two delegates voted against the change while three abstained. the pro—democracy camp in hong kong has lost its veto power in the territory's legislative council following by—elections on sunday. they won only two of four seats previously held by activists who were stripped of their seats. and this story is trending on the latest superhero film black panther has now taken more than a billion us dollars at cinemas worldwide. the movie has been praised as game changing. its cast is largely black, with a black director, ryan coogler. that's all from me for now. and the top story here in the uk: hundreds of people who visited a pub and restaurant in salisbury have been told to wash their belongings after the discovery of a nerve agent
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used to poison a formerrussiae .. 7 , now on bbc news all the latest business news live from singapore. closer relations between french and indian leaders. president macron says his country is desire is to be one of the new‘s best partners in europe. with steel tariffs just days away, which us businesses will be affected by higher costs? good morning, asia. hello, world. it's monday, the start of a brand—new trading week. we start off with french president macron in india and security and energy relations a
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higher on the agenda. let's get the latest. 14 agreements have already been signed between the two countries. tell us more. that's right. prime minister modi and french president macron have signed $16 billion worth of contracts and that was just on the first day of his visit. they include any aviation deals, industrial gas deals, water, system deals, industrial gas deals, water, syste m d ea ls deals, industrial gas deals, water, system deals and a plan to build what will be the largest nuclear power plant in the world. they also agreed to strengthen ties on defence cooperation and security. prime minister modi thanked president macron for investing in his flagship making india programme which seeks to boost local manufacturing and president macron said the countries would work together on maritime
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supervision in the pacific and indian oceans. but president macron‘s visit to india hasn't come without controversy. what has happened? that really happened after president macron made some comments about france being the gateway to europe for indian students. the uk's foreign secretary borisjohnson tweeted in reply, saying the uk also invites around 111,000 students to the uk every year so that kind of shows the battle over brexit and the uk's place after brexit but there is no doubt india and france have strong partnerships, shown by the kind of deals that were showing here over the weekend including a really big aviation dealfor over the weekend including a really big aviation deal for indian carrier
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spicejet, its big aviation deal for indian carrier spice jet, its biggest big aviation deal for indian carrier spicejet, its biggest expansion plans in recent history. thank you for that update on the visit of president macron do i. staying with india, some of the country's biggest airlines announced major expansion plans. despite the bright prospects, carriers face one major challenge. we travelled to an airline show in hyderabad to find out more. i's aviation industry is flying high. last night —— last year, airlines flew nearly 120 million domestic passion that passengers. more than any other country in the world. 25, 20 6% applies are first timers. the market is exploding. we plan to get to 20 aircraft and in the next three, five years we plan
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to be i's second largest low—cost carrier. by 2025, india is expected to overtake the uk to become the third—largest air passenger market after china and the united states but there is one major roadblock to the rapid growth. the biggest airports in mumbai and delhi are struggling to cope with the growing traffic and while the government is trying to build new airports and expand existing ones, that is taking time. the first of course is the land. it is typical in today's day and age to build large—scale airport. we need to find land close to major centres. the site got delayed the nearly a decade. this
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organisation was on this less tha n less than two weeks, the us ta riffs less than two weeks, the us tariffs on steel and aluminium get imports will be taking effect. about a third of it is important from countries like canada, south korea.
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the commodities are important in raw materials made in the us but also in many other products made in america. i asked paul bartholomew from standard and poor‘s what types of steel are affected by this move. you can put them into two main categories. there is flat steel. that is the steel that is used in manufacturing, anything from going into ca rs manufacturing, anything from going into cars to high—end engineering type products and we have the long products, those bits of metal that we see, then there is a third, slightly smaller one. which particular type of steel will be affected due to the higher tariffs? the big concern to the age and region is the flat steel. that is
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what japan exports of south korean exports. south korea makes up 10% of us imports. it suddenly knocking up against chinese steel —— chinese steel. that can have quite a big impact. suddenly, there is all this steel sloshing around. it's made a big move into china. after a chinese conglomerate took over the company. it is an established british band. we have to reinvent our brand in the
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asian consumer. it's a very important feature. it represents the authentic product. it is not a designer label. as a result, our marketing is very important. bespoke dressing is all about dressing for the event and feeling fantastic. if you're running a media campaign, digital media is
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all about the constant evolution. a co nsta nt all about the constant evolution. a constant flow of images and information. this boat has been very successful in terms of the asian market specifically. authenticity counts for a lot. before we go, let's have a look at the week ahead. it will be the focus of investors as they try to gauge how us interest rates will wise. the central bank unveiling minutes from its recent policy meeting. also, we will find out if chinese consumers are losing their urge to splurge. towards the end of the week, the focus will be back on the week, the focus will be back on the us. washington slapped duties on
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aluminium imports from china because they said that they were being sold below market prices in the us. all of this of course will have an impact on regional markets, the nick kay surging by 2.2%. the all 0rdinaries index rising by 0.7%. they give are investing your time with us. see you soon. china's parliament has removed limits on presidential terms, meaning xijinping limits on presidential terms, meaning xi jinping could limits on presidential terms, meaning xijinping could rule for life. the pro—democracy camp in hong kong has failed to regain its veto power in the territory's legislative
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council. hundreds of people who visited the pub unrest and in salisbury have been told to wash their belongings after discovery of a nerve agent used to poison a former russian spy and his daughter. and at winter paralympics, nearly night and brett wild win their second silver medal in the women's downhill super g. —— nearly night. the chancellor philip hammond, has rejected calls to announce the end of austerity. speaking two days before he delivers his spring economic statement, he said the country was still heavily in debt, but there was "light at the end of the tunnel". labour has accused the government, of holding back growth. 0ur political correspondent chris mason has more. the chancellor suggested today that after years of gloom, the public finances might, just might, be getting closer to emerging into the sunlight. there is light at the end of the tunnel because what we're about to see is debt starting to fall after it's been growing
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for 17 continuous years. that's a very important moment for us. but we are still in the tunnel at the moment. we have to get debt down. we've got all sorts of other things we want to do. we've taken a balanced approach. that debt the chancellor talked about looks like this, big by historic standards. but, forecasts suggest the amount the uk owes, relative to the size of the economy, could have peaked. labour, gathering this weekend in dundee for their scottish conference, claim there's little to celebrate, and want to turn on the spending taps. lives have been destroyed and millions have been left in despair. and it is thanks to the failed economic dogma of neoliberalism and austerity. you know, austerity, i keep repeating time and time again, austerity was a political choice, it's not an economic necessity.
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we choose socialism. on thursday, a report highlighted the pressure on many councils in england with squeezed budgets and reduced services after cuts in central government funding. and philip hammond's already under pressure for extra spending on defence and the health service. but tuesday's spring statement will be a low—key affair. he won't appear on the step there, for instance, brandishing his red box. significant changes will instead be reserved for the budget in the autumn. but today's political skirmishes serve as a reminder ofjust how different the instincts are of the conservatives and labour over the economy. chris mason, bbc news, in downing street. time now for all the sports news in sport today. hello. this is sport today, live from the bbc sport centre. coming up on this programme: tottenham move third in the premier league as son heung—min scores twice in a 4—1win over bournemouth. close, but not close enough, as tiger woods finishes tied for second at the valspar
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championship in florida despite a late surge. and novak djokovic returns to the court but loses his first match against japanese qualifier, taro daniel. harry kane's ankle injury is a concern for tottenham manager, mauricio pochettino, after he was takken off during their 4—1 win away to bournemouth in the premier league. the england striker injured himself in a first half collision with bournemouth keeper asmir begovic, but it didn't stop his side coming from a goal down to move up to third place with the in form son heung—min scoring twice for spurs in the second half. it is always tough to play here. after a few minutes, the team managed to complete the
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