tv Asia Business Report BBC News June 25, 2019 1:30am-1:45am BST
our top story: the frontrunner to be the next british prime minister, borisjohnson, says he is confident he can broker 3 new brexit agreement with the european union. mrjohnson said he doesn't believe for a moment that the uk will leave the european union without an agreement, but he is prepared to do so if it is necessary. president trump has announced a new raft of sanctions against iran. he said the measures would target iran's supreme leader, ali khamenei, and his associates. tensions between the two countries have been rising for weeks. and this video is trending on bbc.com. the italian city of milan has been chosen to host the 2026 winter olympics. the italian bid beat off competition from the swedish capital, stockholm. that's all. stay with bbc world news. you can get more on all our stories
on our website, bbc.co.uk/news, and you can contact me on twitter. i'm @bbckasiamadera. now on bbc news, live to singapore for asia business report. trump inksa trump inks a new iran sanction. the us president imposes hard—hitting fresh measures against tehran, including the office of the country's supreme leader. trade war tariffs. we look at how the weapons in the us— china conflict work, and whether they are actually effective. good morning, as you. hello, world. it isa good morning, as you. hello, world. it is a tuesday. glad you could join us it is a tuesday. glad you could join us for another fabulous edition of asia business report. i'm rico
hizon. we kicked off the programme with the us— iran stand—off, as president trump says he is imposing hard—hitting president trump says he is imposing ha rd—hitting new sanctions president trump says he is imposing hard—hitting new sanctions on tehran, including on the office of the country's supreme leader and its top military officials. president trump said the sanctions were in response to the shooting down of an american drone and, quote, many other things. these measures represent a strong and proportionate response to iran's provocative actions. we will continue to increase pressure on tehran until the regime of attendance it's dangerous activities and aspirations including the pursuit of nuclear weapons “— including the pursuit of nuclear weapons —— abandons its dangerous activities. i am joined by weapons —— abandons its dangerous activities. i amjoined by monica miller, and the trump administration isn't just throwing sanctions against the country, but also against the country, but also against the country, but also against the leader's finances. no—one is being spared. he did say that ali khamenei and some of its military leaders are going to feel the pinch as well. he is going to
cut them off from international finance operations, which is going to be for billions of dollars that are currently going into the economy. now, if we do look at what has happened to iran over the past few years, has happened to iran over the past few yea rs, well, has happened to iran over the past few years, well, it has started to feel the pinch. if wejust look few years, well, it has started to feel the pinch. if we just look at what happened to its gdp, it has cut down to 3.9% and inflation has gone up down to 3.9% and inflation has gone up 31%, which means that basic goods like milk, clothes, bread, they have just soared, making it really tough on the iranian people. now, its oil output dropped 400,000 barrels per day in may, which is its main export. that is compared to about 2.5 million barrels a year earlier. india is iran's second biggest importer of oil, and in the past six months, since may, it brought in around 275,000 months, since may, it brought in around 275, 000 barrels months, since may, it brought in around 275,000 barrels a day on average. the us secretary of state,
mike pompeo, is going to convince the indians to buy more american crude. imports have gone up over the last year. iran is not sitting back and taking this lightly. its foreign minister has said that he is responding to the sanctions by saying americans despise democracy, and ina saying americans despise democracy, and in a tweet sent shortly after president trump's announcement, he said he has accused the trump administration of having a thirst for war. it looks like this complicated iran — us relationship will mean higher oil prices, as well. thank you so much for that update, monica miller. shifting our attention to the uk, borisjohnson has admitted he would need eu cooperation to avoid a hard irish border or crippling tariffs on trade in the event of no deal. the favourite to become britain's next prime minister made the comments in an exclusive interview with the
bbc‘s political correspondence. in the real world, the uk government is never going to impose checks or a hard border of any kind in northern ireland. that's just number one. number two, in the real world, the uk government is not going to impose tariffs on goods coming into the uk. but it's notjust up to the uk. of course it's notjust up to us. it's up to the other side, as well. you can watch more on this exclusive borisjohnson interview on our website. in other news making headlines, one of the best—known names in gambling has agreed to be bought by el dorado, in a deal worth $17.3 billion. it will create one of the largest casino companies in america, and comes after a few turbulent years for the firm. it
owns 34 casinos, including las vegas based caesar's palace, which has hosted major sporting and music events. nissan shareholders are widely tipped to back its chief executive at their meeting today while the company tries to move past the scandal that has rocked the business and the loss of trust with alliance partner renault. it is the first such meeting since japan's second biggest carmaker ousted former chairman carlos ghosn and comesjust former chairman carlos ghosn and comes just days after a highly publicised tussle with renault over nissan's corporate governance initiatives. us secretary of state mike pompeo is due to arrive for a two day visit to india where he will be meeting the country's external affairs minister. they are expected to discuss a series of issues including trade, huawei, and india's planned purchase of russian weapons. as our correspondent reports, the talks will lay the groundwork for a
meeting between president donald trump and prime minister narendra modi later this week at the g20 summit meeting in osaka, japan. secretary pompeo's visit comes at a time of increasing tension between longtime allies the united states and india. last month the us removed india from a list of countries that receives preferential trade status. that gave indian exports access to the us market duty—free. now that is gone. in retaliation india placed ta riffs gone. in retaliation india placed tariffs on certain us goods sold here. president trump said india is now playing fair when it comes to trade and its state department is pushing that message ahead of this visit. the uss india's largest trading partner, and president trump would like to see that balance out. but it is notjust trade on the table. the two countries are likely discuss us work visas for skilled indians and india's data protection policy which would ask companies to store data locally and it is opposed
by us forms like e—commerce giant amazon and walmart. both president trump and prime minister modi one government on a promise to put their countries' economies first, and neither is likely to back down. trade will be at the top of the agenda of the g20 summit later this week. us president donald trump and chinese president xijinping are due to set down as they try to resolve the escalating trade war between their two countries. the bbc‘s karishma vaswani looks at the basics and asks what are tariffs and how do they work. tariffs seem to be all they work. tariffs seem to be all the rage these days. china not playing fair on trade? tariffs. lots of refugees coming into america from mexico, tariffs. so much so that the man behind these tariffs has given himself a name. up in the sky, it is a blimp, it is a president, it is tariff man. so how do tariffs work?
a tariff is like an entrance fee for goods to get into a country. you've got to pay itjust goods to get into a country. you've got to pay it just to goods to get into a country. you've got to pay itjust to get past the gate. so when the us imposes a 25% tariff on, say, disk drives coming in from china, someone has to pay that tax on every disk drive. so who pays? president trump seems to think that whoever sells the disc drive does the paying. our country can ta ke does the paying. our country can take on $120 billion a year in tariffs, paid for mostly by china, by the way. well, it is sometimes true that chinese companies are selling the disc drives will lower their prices are little to compensate for the tariffs. they don't want that us customers going elsewhere. but it is whoever buys the disk drives and shifts them to america that really pays some if not all of the tariffs. so it could be an american electronics retailer like best buy, that sells them in stores, and an american company like
general electric that uses the disk drives in the products and services it sells, or the average american business run by mr and mrs smith. they just need a business run by mr and mrs smith. theyjust need a lot of disk drives. look. at some point, these american companies are going to have to pass on the higher cost to their customers. like walmart. it has already said it will raise prices because of the us tariffs. we can make the product right here, if we have to do, like we used to. according to president trump, that is exactly what the tariffs are meant to do. make american shoppers by made in usa instead of, say, made in china. not so fast. a lot of these goods are just much cheaper to make in china. producing them in america could cost more than the tariffs imposed. china has become the biggest customerfor tariffs imposed. china has become the biggest customer for many us firms, like boeing and cadillac, so what hurts china will eventually hurt the us as well. when people
sure, but wait a minute. who is paying, again? lets have a look now at the markets and how they are faring in early asian trade. currently a lacklustre start. the nikkei 225 ijust a point in the all 0rdinaries down by 12 points as investors await president trump's meeting with chinese president xi jinping at the g20 summit this week in osaka, jinping at the g20 summit this week in 0saka,japan. thank jinping at the g20 summit this week in osaka, japan. thank you so much for investing your time with us. sport today is coming up next with all the cricket and world cup action. i am all the cricket and world cup action. iam rico all the cricket and world cup action. i am rico hizon. all the cricket and world cup action. iam rico hizon. goodbye all the cricket and world cup action. i am rico hizon. goodbye for now. this is bbc news. the top stories this hour: the frontrunner in the race to be the next british prime minister, borisjohnson, has told the bbc he doesn't believe for a moment that the uk will leave the european union without an agreement, but he is prepared
to do so if it is necessary. it has been 15 years since former 0asis frontman liam gallagher stepped out onto the famous pyramid stage at glastonbury, but on saturday, he will be back. with his second solo album on the way, he took a break from rehearsals to speak to colin paterson about politics, and that famous feud with his brother noel. you have got a busy time at the moment. shockwave, the single. yes. it sounds like you are quite angry. # you sold me right up the river. you had to hold me back. i am sure a lot of people will be lazy and think it is about your brother, but there's a lot of snide people out there, not just there's a lot of snide people out there, notjust him, you know what i mean? it's up to you. # it's coming around like a shockwave. a lot of protest going on. yes. what would you protest in life? i would have a word with that mare. the only thing
that ever comes out of his mouth is london is open. what, open for knife crime and dying and stuff? worry about people's lives. a 16—year—old kid being knifed to death, and i have kids that age, out and about, living and being young. so that frea ks living and being young. so that freaks me right out. it has been one of the strange things recently. suddenly all of these politicians are coming out and saying that they've been taking drugs in the past. i'm just they've been taking drugs in the past. i'mjust wondering, have they've been taking drugs in the past. i'm just wondering, have you ever seen a politician take drugs? no, no, no. idon't hang ever seen a politician take drugs? no, no, no. i don't hang out with politicians. if i did see a politicians. if i did see a politician taking drugs, he would get cracked around the head. like that. what are you doing, you doughnut? you know what i mean? you wouldn't approve? # maybe i don't really wa nt wouldn't approve? # maybe i don't really want to know... it is ten yea rs really want to know... it is ten years since 0asis split up. really want to know... it is ten years since oasis split up. yes. can you believe that? not really, no. it hasn't split up in my mind, you know what i mean? when i think about it.
i still do 0asis songs, because i sang them and i feel like they are a big part of me, you know what i mean? there's a lot of other people going i can't believe you are still doing noel‘s songs. they are not noel‘s songs. they were written for the band called 0asis. noel‘s songs. they were written for the band called oasis. what is strange to me is that you obviously wa nt strange to me is that you obviously want the band to get back together. yellow i don't want the band to get back together. ——. yellow i don't want the band to get back together. --. he is making out like i have slapped one of his kids or darei like i have slapped one of his kids or dare i say it been with one of his mrs. we had an argument. thank you very much, that was great. liam gallagher, speaking to colin paterson. gauvin hello, this is sport today, live from the bbc sport centre. coming up on this programme: it's the shakib show at the cricket world cup,
as bangladesh beat afghanistan to keep their semifinal hopes alive. surviving a scare but into the quarter finals — the united states see off spain at the women's world cup. and seeing off sweden — italy wins its bid to host the winter olympics and paralympics in 2026. welcome to the programme, thanks forjoining us. shakib al hasan was the star of the show again, becoming just the second man to hit fifty and take five wickets in a cricket world cup match, as bangladesh beat afghanistan by 62 runs, in southampton. yuvraj singh was the first to do it back in 2011 against ireland. the victory for bangladesh means they still have an outside chance of reaching the semi finals. imran sidat reports.