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tv   Asia Business Report  BBC News  February 13, 2017 1:30am-1:45am GMT

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security council in response to the latest missile launch by north korea. the pyongyang leadership said the missile was of a new, longer—range, type and is capable of carrying a nuclear warhead. a record—breaking heatwave in new south wales in australia has produced the worst conditions ever seen for local firefighters. and this video is trending on it shows volunteers in new zealand trying to keep pilot whales away from the beach at farewell spit. hundreds of the creatures became stuck there over the last few days, only about a third survived. that's all from me now. stay with bbc world news. and the top story here in the uk. an investigation by the bbc‘s panorama programme has found evidence of major security failings at a privately—run prison
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in north—east england. now on bbc news all the latest business news live with sharanjit leyl in singapore. the best of friends. us president trump eat and japanese prime minister shinzo abe meet. we find out what it will mean for the markets and the economy. and what do you want to be when you grow up? we find out why themepark that let's kids try out differentjobs is gaining ground here in asia. hello and welcome to asia business report, i'm sharanjit leyl. japan's latest gdp figures are in showing the country's economy grew at an annualised rate of just 1% the country's economy grew at an annualised rate ofjust1% in the last quarter of 2016. the latest figures follow a weekend of meetings
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between these two men, this is japanese prime minister shinzo abe as well as the us president trump eat in the us, and the two leaders agreed to a new economic dialogue that will focus on monetary policy, corporate projects and trade. so what will it mean for markets and the broader economy? earlier i spoke with martin schultz from the fujitsu research institute. two objectives, one, showing that the us government needs a strong friend in asia, that point was well taken it looks. the second is getting into a dialogue, that seems to be working now, there will be a continuous dialogue and this is very important to show the different positions and how they can be developed. you talk about this dialogue but we know that with trump it was pretty much the end of the trans—pacific partnership, so the idea is how they can move ahead with this dialogue. some talk about bilateral trade relationships, but
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how difficult is that politically to achieve when you take into account that japan logged the second—largest trade surplus with the us last year? that is really the tricky point here. it's not just that is really the tricky point here. it's notjust trade, it's also the currency. japan is a fast ageing economy with a slow economy at home, it needs exports. it also need a currency that makes it possible for governments to invest. the main point injapan is actually there is so point injapan is actually there is so much capital injapan, there's easy monetary policy so it also needs to invest. that's where the two countries can meet and this is where the focus has been, investment from the japanese side in the us will help a lot. the us and japan on the other hand need to remain calm in terms of developing the trade talks. unfortunately tpp isn't around so there needs to be a new framework. martin schultz. south korean prosecutors will for a second time question samsung j korean prosecutors will for a second time question samsungj wiley in pa rt time question samsungj wiley in part of a probe into a grass scandal
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around the country's president. prosecutors will question to other w they to decide this week if they will seek an arrest warrant for mr li. earlier i asked our reporter why there is renewed interest in samsung. if the head of samsung, mr li, thought he was off the hook when a court in seoul decided to reject his arrest warrant last month, he may not have expected today's summit to appear back at the prosecutor's office. during the past three weeks, investigators really reviewed the case and decided there were new aspects to the investigation that required further questioning. the allegation is that samsung gave millions of dollars in return for the votes of the national pension fund ina the votes of the national pension fund in a big and contested restructuring of the company. this time senior executives of samsung may also be questioned alongside
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with mr lee and the investigators feel they have collected enough evidence that may merit his detention. the prosecution team could file another arrest warrant and the court would then have to review the case again, so another anxious legal process may be heading towards samsung's boss. kevin kim in seoul. block chain is the security protocol that helps to underpin the digital currency bitcoins but recently mainstream financial institutions have also begun to take note. in fact, institutions have also begun to take note. infact, many institutions have also begun to take note. in fact, many have worked to adopt block chain technologies. so what are the advantages and how does it work with the charisma of the tshwane 0pen has more. imagine this. —— karishma vaswani has more. we are part of a joint account and each block is a transaction. everytime one of us makes a transaction it gets added to the entire system and it's all linked together, one block on top of the other. at any point in time each of
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us can other. at any point in time each of us can make a transaction, we can put money in and take money out and the entire system knows about it, it gets validated by all of us. but if one of us wants to do something dodgy without any of the others finding out, like for example change one of the transactions in the account, or remove something from it, well, the entire system would be lost. all of us would find out and the transaction wouldn't be able to go through. it would be invalidated. what does this do? it cuts out the middleman, the people who usually verify these sorts of transactions. so that means no more credit cards, no more banks. that's why so many banks are trying to jump onto the block chain bandwagon but before you run out and try to invest in block chain, let me give you a little note
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of caution. some people who have used this technology have said that it's not that easy to you is and it's not that easy to you is and it's not that easy to you is and it's not always so secure. 0f course, all of these block chains depend on the quality of the code written into them and as we all know these days sometimes codes can be cracked. and if that happens, well... the entire blockchain could come crashing down. why our so excited about what chain? —— why our businesses. we were joined earlier by the director of asia businesses for cult. —— why are the businesses. up the businesses. up until now since blockchain technology was introduced we seen an u pta ke technology was introduced we seen an uptake in the retail market, mainly in the form of digital currency and crypto currency. however we release out to see an uptake in the corporate enterprise market, mainly in the financials that we've
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recently seen. mainly in the form of money transfers and money movement —— we've recently seen. money transfers and money movement -- we've recently seen. howard widespread is it, we've seen banks coming on board, —— why how widespread. most of the financial industry today, you're still under proof of concept in a lot of different places, a lot of the market operators and market makers have publicly announced their interesting into the technology and looking into the technology. —— they're investing into. if can go beyond that in terms of regulatory and compliance audit trails, all things can be used by block blockchain technology. could it potentially cut out the middleman and they could be out of business? definitely, there's a concern about that. the technology is still new and with any new technology there are concerns and hesitation of the uptake. deciding what you want to be when
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you grow up can be one of the toughest questions a child will ever face. 0ur toughest questions a child will ever face. our business catering to their curious mind is kids a near. —— a business. the global educational theme park is fast expanding across asia but is it exposing children to too many big brands along the way? we look at the theme park as part of our business of kids series. i want to be a policeman. i want to be a policemanlj i want to be a policeman. i want to bea i want to be a policeman. i want to be a doctor. i want to be a pilot. i wa nt to be a doctor. i want to be a pilot. i want to be an air hostess. thank you. in this imaginary city, kids come here to have fun and to learn about grown—up jobs. they also own pretend money. there are nearly 40 own pretend money. there are nearly a0 companies vying for the children's the tension but some ask if it's appropriate for children to be exposed to so many brands in such an immersive way —— children's
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attention. branding experts warn parents should be careful. kids are constantly exposed to big brands, they're bombarded by thousands of brand m essa 9 es every bombarded by thousands of brand messages every day but that's different to being dropped into a branded environment where he is no escape and no ability for them to censor themselves or the parents to edit it for them. kidzania doesn't see a problem. we're surrounded by brands everyday and kids will grow up brands everyday and kids will grow up with that, whether macro three all elsewhere in the world. the ultimate goal is to provide realism for the kids' role—play —— whether kidzania or elsewhere in the world. but it is expensive. what is interesting is to picture how to earn the money and then spend wisely. i think when they come here they can learn to be independent and also learn more problem—solving skills. for an average day's work, children can earn around a0 to 60
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islamic kidsos, the local currency. but this is more than childsplay, 50 million people visited kidzania globally last year and half of them came from asia. while parents can strive to give them every opportunity to get ahead in life, it's up to their children to take control. ashley ellerin, bbc news, singapore. looking at the markets, they are all higher, as you can see in asia, taking their cues from wall street gains on friday. that's it for this edition of asia report. thanks for watching. —— asia business report. i'm reged ahmed. the top stories this hour. the united states, japan and south korea have requested an urgent meeting of the un security council following north korea's launch of a ballistic missile on sunday huge fires and a record—breaking heatwave in australia have produced what emergency services say are the worst conditions ever seen
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for local firefighters. the speaker of the house of commons, john bercow, insists he remains impartial in performing his duties despite new revelations over his support for remaining in the eu. chris mason reports. the speaker — a role with a history dating back to at least the 1ath century. 0rder, order. sitting between the political parties, chairing debates. but, for the second time in a week, it isjohn bercow‘s opinions that have generated attention. talking to students at the university of reading, he said eu migration had been a good thing, and added... this may not be popular with some people in this audience. personally, i voted to remain. i thought it was better to stay in the european union than not. mr bercow had already irritated some by accusing president trump of racism and sexism.
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i would not wish to issue an invitation to president trump. some mps loved that, but his critics are repeating he must be replaced. i'm incredibly surprised that the speaker now has expressed he is incapable of impartially chairing debates in the house of commons now, and must go. a spokeswoman for the speaker told me he decided not to say anything during the referendum campaign, and is scrupulously fair when chairing debates. this cabinet minister said that was his experience too. i had six years as europe minister under david cameron. and in that time the speaker was never afraid to ask the eu difficult questions. plenty of mps do remain in team bercow, on his side. i'm confident thatjohn bercow has the numbers and support across the parties to see off this attempt by a handful of crusty tories to unseat him.
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the speaker's job description makes it clear he is obliged to be politically impartial. chris mason, bbc news. don't forget you can go to get all of the news from our website. you can also follow us on twitter. you can also follow us on twitter. you can also follow us on twitter. you can also get breaking news as well. with the premier league champions leicester city struggling again, it's time to catch up with all the sport and sport hello, i'm here again, and this is sport today,
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live from the bbc sport centre. coming up on this programme: antonio conte's chelsea are held to a 1—1 draw by burnley but extend their premier league lead to 10 points. jordan spieth wins his first tournament in over a year claining the pebble beach pro—am in california. —— claiming. and beat feuz wins gold in the men's downhill at the world alpine ski championships. hello and welcome lto the programme. —— hello and welcome to the programme. we start with the english premier league, and leaders chelsea may have been held to a 1—1 draw at burnley on sunday, but they've still extended their lead at the top of the table to 10 points. they looked set to record their 20th league win of the season after pedro


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