Skip to main content

tv   Asia Business Report  BBC News  May 5, 2017 1:30am-1:46am BST

1:30 am
will be extrapolation, and we there will be extrapolation, and we have more to come rather than what we have at the moment, and it will play into the election campaign. extraordinary that we have an election night like tonight smack bang election night like tonight smack hang in the middle of a general election campaign. a lot of results have only come through tomorrow, so what can we expect? worth looking out through the night as we get results in wales in an area that is looked at keenly because there was a national opinion poll done in wales for itv news ten days ago, suggesting the conservatives could make big gains in the general election, so there will be those who look at the welsh results to see if that kind of opinion poll prediction has scrutiny. also keeping an eye on the sixth —— six mayors, and a different resort in the west midlands with a keenly fought battle between labour and the conservatives. thank you so much. it
1:31 am
is going to be a long night. much more for you anytime, of course, on the bbc website. now on bbc news, the bbc website. now on bbc news, the latest business news live from singapore. china's first commercial aircraft is ready for takeoff, but can it compete with airbus and boeing? and the challenges of doing business in myanmar. we speak to a regional boss. good morning, asia. hello, world. welcome to another edition of asia business report. glad you could join us. it's a friday. the first made in china passengerjet will fly for the first time this morning. it is called the c919, and it is built
1:32 am
by komak. it will not be delivered to airlines until at least 2020, but the industry buzz around the aeroplane is huge. it has been in the works for nearly a decade as china tries to rely less on european airlines like boeing. we had a sneak preview. made in china, those three words now applied to commercial aircraft. this is the c919, china's first home—made commercial aircraft. actually, it is a mock—up, but they hope to roll them off the production line next year. china hopes this will be the chance for them to break into the global aviation market and break the struggle hold of boeing and airbus that have long dominated this industry. let us have a look. it is home—made, but not in its
1:33 am
entirety. this is a large, the wing, the tower, all median china, but the engines and systems are from foreign key factor is. —— tail. let's go to first class, and now the cockpit. the president, xijinping, has sat in this seat. that shows you how important it is for china and the leadership that this works. it is a moment of huge national pride for china. they have had a few problems in terms of hitting the high standards demanded by regulators in the us. but they hope that the c191 will change all of that. now, this will change all of that. now, this will sell well here because domestic airlines are on board. but will foreign air lines buy it. they hope that someday you will fly on a home—made chinese commercial aircraft. earlier, i
1:34 am
spoke with an aviation analyst who is the asia managing editor at flight global. i asked him whether it poses any commercial threat to boeing or airbus? for the time being, very little threat. boeing or airbus have a solid lockley and they have support networks. —— duopoly. they have proven products and our lines are comfortable working with them to be that said, the new plant is hitting the toughest part of the market. —— that said, the new plane. this is definitely going to get attention. so far, most of the demand is coming from within china. would there be any interest outside, do you think? potentially, long—term, you could see that. the aircraft is going to have to develop
1:35 am
aircraft is going to have to develop a track record for reliability and supportability in the field. nothing to airlines hate more than aog situations. they want 99% reliable 01’ situations. they want 99% reliable or better. if you are falling short of that, airlines are going to be dubious about working with you. customer service is also crucial in this market. the global infrastructure and support network is what they are going to have to build if they want to compete with the big guys. it is a competitive market and hard to make money. is it safe to say that the government is almost bankrolling this project? yes. it is a huge upfront costs on behalf of the chinese government. i have been to their facilities and their research and development facilities outside shanghai. there is enormous cost and resources going into this programme. but it is about national prestige and high—value jobs. long—term, it is about being
1:36 am
the third major player in the global aviation market. in other business news, oil prices have hit five months news, oil prices have hit five m o nths lows news, oil prices have hit five months lows with brent crude hitting levels not seen since opec agreed to cut production by 1.2 billion barrels a day in late november. those cuts are likely to be continued, though deeper cuts are unlikely, they said. since most international sanctions against myanmar were lifted, companies have been lining up to take advantage of the growing market. unilever was among the first. itjust the growing market. unilever was among the first. it just struck a joint—venture deal with a local rival, europe and asia commercial company. what are the challenges of doing business there? i asked the regional president about the tie up. it isa regional president about the tie up. it is a great company. we have been talking to them for a while. the
1:37 am
country offers great potential. macro economics are good. 55 million people. a growing middle—class which is supposed to double by 2020. the economics are very good. we are excited. by combining the two companies, you are also, your manufacturing capacity will be better. would you consider exporting to the rest of the region for a myanmar? they have two facilities and we have one. we will produce locally for the time being. everything will be imported into myanmar today. but over time we see potential for exporting. myanmar today. but over time we see potential for exportinglj myanmar today. but over time we see potential for exporting. i guess myanmar continues to make news headlines with human rights abuse, political stability, so what are the challenges of doing business there? it isa challenges of doing business there? it is a nascent economy. it is developing fast. we the business is growing in double digits. infrastructure has to develop, obviously. —— we see. there are some
1:38 am
electricity shortages, obviously. but we are invested in the long—term and are committed to myanmar. what about the stability of the currency? it has fallen some 10% against the dollar in the second half of last year. that is surely going to have an impact on your business. markets are always volatile. we are investing for the long—term. it is a commitment we have for the country in the next decade. we have been backing them since 2010. i am absolutely convinced this investment will have great returns for the long—term. will have great returns for the long-term. in the coming days, the us will take china to the world trade organisation. america accuses china of subsidising its aluminium industry and says it is destroying jobs and companies on both sides of the atlantic. china denies that it has broken any rules. joe lynam reports. from this day forward, is
1:39 am
going to be only america first, america first. —— it is. going to be only america first, america first. -- it is. the new president could not have been clearer that he will protectjobs lost to global competition. one of his first tests could be aluminium. in the 15 years since china join the wto, it has gone from producing 10% to more than 50% of global aluminium. at the same time, the us has gone from having 23 acting smelters to just has gone from having 23 acting smelters tojust six. has gone from having 23 acting smelters to just six. and with the closures have come job losses. they are stealing ourjobs. according to the china task force, chinese aluminium output has doubled since 2010, and that has dramatically pushed down global prices, forcing out many european and american producers. they have taken very cheap finance and have provided the low interest loans to these companies. they have forgiven debts.
1:40 am
when these companies get into trouble, you may have heard the term zombie companies. they have propped up zombie companies. they have propped up these companies and allowed them to keep reducing. it is unecomonic. we are not looking to protect anything. we are seeking a fair market under wto rules. in a statement to the bbc, the chinese government said this. and as for the wto, it says there is little it can do to bring about rapid change. it is the members who monitor the situation themselves. they talk to each other, they expressed their concerns to each other, and the even propose ways of handling the situation for themselves. the wto isjust handling the situation for themselves. the wto is just there forfor them to themselves. the wto is just there for for them to have conversations. we tried to make it your try to
1:41 am
facilitate those conversations. taking a case to the world trade organisation is time—consuming, just ask boeing or airbus. it could take five years to get a decision. at which point, consumers on both side of the atlantic could be out of business. we will show you the markets before we go. this is how markets before we go. this is how market in asia have started trading. the nikkei of japan market in asia have started trading. the nikkei ofjapan has closed market in asia have started trading. the nikkei of japan has closed for the golden week holiday. that is it for this edition of asia business report. thank you so much for watching. the top stories this hour: president trump has scored a victory after congress took the first step towards scrapping barack obama's flagship health plan. three months after donald trump's bad—tempered phone call with australia's prime minister, the two men are meeting to commemorate a major wwii battle
1:42 am
the northern royal albatross is a species under threat. but anyone who wants to count how many are left, has a real challenge on their hands. the giant birds nest on a group of rocks east of new zealand and you've got to be a climber to get anywhere near them. now, that's changed, because scientists have come up with a new way of tracking them from space. our science correspondent, rebecca morelle, reports. a little ungainly on land, the albatross is a giant of the bird world. with its formidable wingspan, it is easy to spot. but counting them is tricky. most net on islands that are extremely remote. now there isa that are extremely remote. now there is a better way to get a tally of the birds, from space. scientists are using a powerful us satellite to zoom in on islands like those in the pacific. they can be mapped to 30
1:43 am
centimetres, showing each albatross isa centimetres, showing each albatross is a white dot. researches simply have to count them. this is the bird that lives there, the northern royal albatross. satellite counters come in at 3600 nests. that is half the number that scientists expected. they face a number of problems. if we zoom out from the chatham islands, we can see one of them. ocean currents are circulating waste which is deadly for the birds. along with plastics, fishing lines are also dangerous, and rats that prey on young chicks. out of 20 theses, 15 are under threat. there are ways to restore their breeding sites. i hopein to restore their breeding sites. i hope in the future these satellite images will be able to show us we are living in the right action to save them as a hole. this is not the
1:44 am
first time satellites have helped conservationists. we can attract their migration from space. southern white whales have been monitored as well. that technology has even helped establish the size of penguin colonies. for the albatross, researchers 110w colonies. for the albatross, researchers now want to extend their study to other nesting site. knowing how many birds that are now will help us track how many there are in the future. bbc news. the number of new cars registered in the uk has fallen by nearly a fifth in april compared with the same period last year. the society of motor manufacturers and traders says demand dropped sharply among both fleet and private buyers, after record sales in march. registrations of electric and hybrid cars also fell for the first time in nearly four years. much more for you anytime on the bbc website. thank you so much for watching. hello, this is sport today,
1:45 am
live from the bbc sport centre. coming up on this programme: jose mourinho's manchester united hold a 1—0 lead over celta vigo after the first leg of their europa league semi final. usain bolt tells us what he hopes his legacy will be. and shannon gabriel tears into pakistan as west indies win the second test in barbados. hello and welcome to the programme. we start with the footballing news that a marcus rashford goal has helped manchester united to a 1—0 win away to celta vigo in the first leg of their europa league semi final. the 19—year—old curled a wonderfully struck free kick past the outstretched arms of sergio alvarez in the 67th minute for his 11th goal of the season, handing his side a vital away goal ahead of the second leg at old trafford next thursday

63 Views

info Stream Only

Uploaded by TV Archive on