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tv   Asia Business Report  BBC News  July 22, 2019 1:30am-1:46am BST

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hello. i'm ben bland with bbc world news. our top story: there has been another night of violent clashes in hong kong. riot police fired tear gas at pro—democracy protesters during a mass rally. police say demonstrators threw bricks and petrol—bombs, and refused to disperse. the protests began two months ago over a controversial extradition bill. iran risks inflaming tension over the seizure of a british oil tanker after replacing the union flag with it's own standard on the ship's mast. the british government meets later to discuss its next move. and there's a lot of interest in this on the irish golfer shane lowry braved howling wind and rain to claim his first major title with a victory in the open championship. he finished six shots ahead of england's tommy fleetwood. he described the achievement as "an out—of—body experience". that's all. stay with bbc world news.
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and don't forget you can get more on all our stories on the bbc website, that's bbc. co. uk/news. and i'm on twitter @benmbland. the uk iran tanker crisis. theresa may is said to hold an emergency meeting over the seas to ship. exit poll suggest japan's prime minister has failed to win a crucial supermajority. good morning, asia, hello, well. it is a monday and the staff brand—new trading week. lad you could join us for asia business report. i'm rico hizon. we start with the global energy market. oil prices are higher in early morning
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trade as the crisis deepens over the seizure of a british flag tanker by iran. currently up by 0.8%. it was ca ptu red iran. currently up by 0.8%. it was captured by iranian revolutionary guard in the strait of hormuz on friday in an apparent retaliation for the british capture of an iranian tanker two weeks ago. paul adams has the latest from london. british officials have spent the weekend trying to figure out the government's response to this crisis. the foreign secretary, jeremy hunt, will brief mps on the conclusions. there has been some discussion about whether or not britain could impose some kind of sanctions, perhaps freeze iranian assets here in britain. but frankly there are not that many to freeze and officials don't think it is a very good idea. the foreign secretary is likely to emphasise that the government is working with other governments, in particular the united states, to improve maritime security in the gulf. and he will emphasise that the international character of this ship, the stannet
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and pero, british flag, swedish owner with a multinational true means they should be an international response. that is the avenue, the route that the british government is trying to pursue. whether they are successful we'll find out the coming days. we have two parallel tanker situations going on. one is held by the iranian revolution a guard and the other a tanker carrying iranian oil being held in gibraltar —— revolutionary guards. there were allegations it was smuggling oil to syria. these two tanker situations, the legal processes will continue in parallel and could take some time. paul adams in london. japan's prime minister shinzo abe has claimed victory in the country's upper house election. exit poll suggest this coalition has fallen short of the two—thirds supermajority needed to push ahead with revising japan's pacifist
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constitution. translation: this upper house election was not about winning two—thirds of the seats. it was about maintaining stability. we achieved that goal. we will try to gain the support of two—thirds of the lawmakers under constitutional amendments discussing the constitution. we asked whether mr abe would be able to move forward with hiking the nation's consumption tax? yes, he has a strong majority. this means that voters seem to be ok with his overall economic policies. that is a strong signal because the upper house election is very much a regional, rural election, and many things like free trade agreement, opening the country, increasing taxes are not popular in the country. the voters gave him the go—ahead with that. country. the voters gave him the go-ahead with that. he will go ahead with that. but do you thinkjapan really needs this 10% consumption tax given the state of the economy? the state of the economy is
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pressured quite a bit by the trade war between the us and china. companies are more careful with their investment overseas. they are investing in japan. their investment overseas. they are investing injapan. the economy seems to be bottoming out domestically, the service sector is doing quite well. overall the economy is strong. and since japan needs to balance its budget at some point in the future, yes, going ahead will probably be the right thing to do. so whether the people wa nt thing to do. so whether the people want it or not this consumption tax will happen for the sake of the overall economy. you talked about the trade dispute with the united states, martin, it is a headache because of donald trump. how soon do you think both sides will come to an agreement? well, the agreement, the secret agreement is after the elections. this is now gaining pace. japan is pressured. this is a bilateral talks that is quite difficult. mr abe have a strong
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majority, although not a supermajority, it means he has the flexibility to go into the talks with us and come up an agreement that will be ok for both sides so by both sides are at loggerheads, particularly agriculture and also, do you think shinzo abe will give into donald trump? in a way, yes, he will have to give something. on the author mobile sector it is unlikely. that is the most important sector —— automobile. it is not solvable because you cannot sell american cousin japan easily. because you cannot sell american cousinjapan easily. the other way works much better. there needs to be a rebalancing —— cars injapan. fashion catwalks may be typically the domain of the young but not anymore. in south korea one model is finding success in his silver years. let's find out.
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might not be too late for me. the world economic forum estimated by 2050 almost a quarter of the global population will be over 65. i spoke with elizabeth from the global institute for experienced entrepreneurship and she told me why she saw older workers as the most underrated natural resources. because it's the largest resource in the economy and people are being still pushed out the door of the workplace by employers around the world have not yet realised that this is an unprecedented resource because of the experience and the knowledge that this generation carries with them that can be translated to the current workforce. you and i belong to the silver economy and definitely we will not
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be pushed out the door! we will stay inside! how much more do you think can the silver workforce in tribute to the economy when you are over 50? contribute billions of dollars already, both in the workforce, in retaining older workers in the workforce, and in senior entrepreneurship. senior entrepreneurship. senior entrepreneurs are the largest sector of entrepreneurs around the world. and they are contributing to the gdp as well as contributing to the tax brea ks as well as contributing to the tax breaks of countries all over the world. you talk about the tax base, continues to evolve day in and day out, what skills do the silver workforce need to equip themselves today and going forward? they need today and going forward? they need to equip themselves with technology skills and that's what we really advocate for is intergenerational workforces, where the young tech savvy people can work with the older people who have the business savvy and experience and life work
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experience and categorised across generations so far we have been able to prove that that kind of intergenerational workforce boost productivity and companies by a minimum of 20%. let's break down the country. where is the experienced economy most prominent in the world? it is more prominent in the developing countries at the moment. but we are extending into africa and the middle east so that we can work with the older generations there that are not thought of as a traditional workforce. but have all the life work skills that can apply toa the life work skills that can apply to a workforce today. and, briefly, how can governments help the senior workforce and their respective countries. they can do a lot. there was a study in spain that documented that if the spanish government contributed even i euro to mitigate the retirement syndrome return on investment would be 129 euros per that investment. and that is really
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astounding. that was a silver workforce expert speaking to me earlierfrom workforce expert speaking to me earlier from the workforce expert speaking to me earlierfrom the us. let us have a quick look at the markets and so far, as we can see, with japan quick look at the markets and so far, as we can see, withjapan and australia are open for business, it is so fara australia are open for business, it is so far a lacklustre start to the new trading week for asia. this is after wall street stocks finished a down week on a tepid week after news ofa tank down week on a tepid week after news of a tank attack in the middle east, even as she has rallied on friday. with that we in this edition of asia business report. thank you for investing your time with us. sport todayis investing your time with us. sport today is coming up next. this is bbc news: the top stories this hour. there have been more violent clashes in hong kong — where police have fired tear gas at protesters during another huge pro—democracy rally. iran hoists its flag on the masthead of a captured uk tanker, despite calls to defuse tensions.
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75 years ago this weekend, a bomb intended to kill adolf hitler exploded at his headquarters on the eastern front. what was to become one of the most famous assassination attempts — operation valkyrie — had failed. at a ceremony marking the occasion the german chancellor angela merkel urged people to stand up to rise of right—wing extremism in the country. rebecca hartmann reports. marking the spot where four co—conspirators were executed just hours after their attempt to kill hitler had failed. he was an aristocratic career army officer. he planted a bomb hidden in a briefcase during a meeting of high—ranking nazi officials in the so—called wallflower. h itler‘s nazi officials in the so—called wallflower. hitler's bunker on the eastern front. the plan had been to
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kill hitler, seized power, and declare peace with the western allies. but the nazi leader escaped with only minor injuries. von stauffenberg was caught and executed later that night. over 200 co—conspirators suffer the same fate in the weeks that followed. translation: they acted while others we re translation: they acted while others were silent. they followed their conscience and took responsibility for our country and there is, while others looked elsewhere. but anti—semitism in the far right in germany are on the rise. nearly a year ago thousands of far right protestors took to the streets of chemnitz. hate crimes againstjewish people increased 10% last year. in may, the government's anti—semitism commissioner want against wearing the traditionaljewish into certain parts of the country.
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translation: it is our duty that they can wear it in germany without fear. it is our duty not to target others because they look differently speak deftly or have a different opinion. while new recruits took oath to serve their country, a reminder from oath to serve their country, a reminderfrom the oath to serve their country, a reminder from the chancellor, there are moments when disobedience can be are moments when disobedience can be a duty, when the individual has a moral duty to contradict and resist. rebecca hartmann, bbc news. now on bbc news, sport today. hello, i'm tulsen tollett and this is sport today, live from the bbc sport centre. coming up: shane lowry claims the open championship at royal portrush in
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northern ireland and his first major title. new zealand win the netball world cup beating defending champions australia by a single goal in the final. and adam peaty breaks his own 100m breaststroke world record at the world swimming championships in south korea. hello and welcome to the programme where we start with the golfing news that ireland's shane lowry has won the open championship at royal portrush in northern ireland by six strokes. he finished well clear of the rest on 15 under to also claim his first major title and our sports correspondent andy swiss was watching. it was the stuff of sporting dreams. portrush perfection as shane lowry gave the home fans a hero. he'd begun his round to deafening expectation but his opening swing


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