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tv   Asia Business Report  BBC News  July 5, 2019 1:30am-1:46am BST

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a bbc special investigation has revealed how muslim children in china are being systematically separated from their families. official documents show that large numbers of boarding schools have been built to house children as young as two. critics of china's government say it's a deliberate policy targetting the minority uighur population. families of victims of the boeing crash in ethiopia in march tell the bbc that criminal charges should be brought against those found to be responsible. and this video is trending on bbc.com. events to mark us independence day are taking place in washington, where president trump is hosting an event dubbed ‘salute to america'. that's all. stay with bbc world news. there's much more on all our stories on our website, that's bbc.co.uk. find me on twitter, i'm @lvaughanjones.
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now on bbc news, live to singapore for asia business report. farmers, jobs and infrastructure, just some of the challenges being faced by india's new finance minister as she delivers her debut budget. samsung's profits slide the korean tech giant warns its earnings will fall more than 15% as the trade war bites. good morning asia, hello, world. it's friday, almost the weekend, glad you could join us for another exciting addition of asia business report, i'm rico hizon and in india first the first female finance
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minister in almost half a century is set to present her debut budget today. nirmala sitharaman‘s spending plans will aim to tackle a slowing economy and a raft of other issues. when the renderer modi was first elected five years ago, he pledged to create millions of newjobs. official figures put the jobless rate at 6.1% in 2018, and that's a 45 year high. the government needs to find money for welfare programmes it's already announced, including did 12.6 billion us dollars to support farmers. many indians have also been calling for investment in infrastructure, from roads, bridges, dams, better housing and public to i lets. dams, better housing and public toilets. all this has to be done while continuing to push down india's national deficit, which is currently below 3.4% of gdp. for more we arejoined currently below 3.4% of gdp. for
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more we are joined by the bbc‘s zoe thomas from them by. this is the first budget since prime minister modi was re—elected in may —— from them by. growth is falling and unemployment is high and a number of sectors will be hoping for incentives. farmers, the indian monsoon came late this year and much of the country is suffering severe drought. those in farming communities are looking for policies that cut their costs and reduce debt. small and medium—sized businesses are hoping the government cuts taxes to let them expand, and the government might cut taxes for individuals to boost consumption in the middle—class. spending on infrastructure, including ports and broadband, is expected to be a big pa rt broadband, is expected to be a big part of the budget. both are key to india's goal of expanding exports in goods and services. how will the country pay for it all? it's expected the finance minister will announce the country is increasing its budget deficit. some experts say raising borrowing could be the key to getting growth rising quickly.
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zoe thomas in mumbai. india also faces an escalating trade row with the us with the new government's trade budget released today stop we sat down with the chairman and co—founder of it services tried emphasis and we asked him if he's worried about the outlook. it's at an inflection point. there's a need to increase the growth rate and have job creation, one of the big challenges is we have millions of young people coming into the workforce every month and we need jobs for all of them so they are satisfied and they have economic and social. the banking system is an area where there is attention because historically the banks have accumulated a fair amount of non—performing assets, bad loans, and that needs to be addressed and agriculture is another big focus area. we need productivity back into the agriculture area, farmers
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getting more income, and water will bea getting more income, and water will be a big challenge in the coming yea rs. be a big challenge in the coming years. trade has been... there's been quite a bit of friction between india and the us, are you worried about escalating tensions? not really. while there are some issues that come up from time to time, fundamentally the us india relationship is on a sound footing. mike pompeo was in india a week or so mike pompeo was in india a week or so back and they had good discussions. work these as has hit big it companies particularly quite hard, what should be done? a few years back there was a decision to set up local centres and they made a commitment to allow 10,000 people in the us, and we are working very closely with local governments in the us, local governors and cities and our work the us, local governors and cities and ourworki the us, local governors and cities and our work i think is very much appreciated. is india a tricky place to do business? there's been lots of
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reforms in the past year, for example, there's a system where every state had a different vat, like a sales tax, and now we have a unified goods and services tax so we don't have a set of warehouses in every state, you can have one big warehouse for entire country or region is. we need to make business in india more easy to do. -- regions. samsung says it expects operating profitability to tumble by 56% for the second quarter this year in the face of a weakening chip market. that comes as a drop in shipments to battling tech giant huawei swelled the glut of memory chips in the global market. tech analyst jake saunders said the two companies have a complicated relationship. they are for enemies, in one respect they are collaborators and in one sense they are enemies. they are
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major competitors in the global market, while way, and that's where samsung could benefit. the s—10 is selling well and they have the note coming out in the third quarter, so there should be uplift but the overall situation is affecting the korean and japanese ecosystem. talking about the ecosystem, of course there are smart phones and the notes are the bread and butter of samsung electronics. how much impact would japan's restriction on tech exports to south korea have on samsung ? tech exports to south korea have on samsung? potentially a major one. samsung? potentially a major one. samsung could have two months of inventory, chips, they have to make those chips. the japanese supply is the master for etching the channels, as well as the gas, which does the etching. they can get some supplies from markets like belgium, but the mast themselves, that's the big issue. jake saunders on samsung electronics
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and online retail giant amazon is turning 25. what started as an electronic box store has morphed into something much bigger, but it also faces more challenges. they consider their birthday to bejuly the 16th, 1995, the day it opened online to the public. but incorporation date, july the fifth, isa incorporation date, july the fifth, is a good chance to look at how the so—called everything store has changed the world. michelle fleury has more from new york. it seems everyone these days is an amazon customer, so i've come here to put it to the test. hello. are you guys amazon customers? yes. yeah, big time. i don't to go to the store anymore, i buy everything online. i shop more because of amazon. what you use it for? to buy gifts. clothes for my son. i'm on every day, like everyone else! jeff
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days also filed the paperwork to create amazon 25 years ago and his genius was to recognise the potential of the internet long before others. -- jeff bezos. i turn to amazon. alexa, what is amazon? it's a multinational american technology that focuses on e—commerce, cloud computing, digital streaming and artificial intelligence. is known for its disruption of well—established industries through technological innovation. its dominance is problematic with its growth getting rid of retailjobs and it has faced criticism over worker conditions at its warehouses. it's not a good look for amazon or any of these companies where efficiency is so prized that the human component is challenged. one decision it may come to regret, its failure to replace a second
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headquarters in new york —— place. the acrimonious split with the biggest city in america may have a situation where governments are less friendly to amazon. alexa, is amazon good or evil? i like amazon. without amazon, i wouldn't exist. good or evil? i like amazon. without amazon, iwouldn't exist. michelle fleury, bbc news, new york. in other business news, malaysian anticorruption in other business news, malaysian anticorru ption officials have arrested the stepson of former prime minister naji razak ‘s film company has been linked to a multibillion—dollar corruption scandal involving a state fund. he was a co—founder of the production company behind oscar—nominated film the wolf of wall street, starring leonardo dicaprio. it's been linked to losses from the 1mdb state fund and he's denied any wrongdoing. around 900 customers of 7—11 japan have lost a collective 900 thousand dollars after their accounts were hacked. the issue was caused by a
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security lapse in the design of their seven day mobile payment application, which was launched on monday. let's have a quick look at the markets, with wall street and us financial markets closed for the july the fourth holiday celebration. a lot of liquidity in the asia—pacific markets as they go on the weekend break. that's it for this edition of asia business report. thank you so much for investing your time with us. wimbledon action on sport today coming up next. this is bbc news. the top stories this hour: a special bbc investigation reveals how china is systematically separating muslim uighur children from theirfamilies. speaking exclusively to the bbc, families of victims of the boeing plane crash in ethiopia tell us
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those responsible must be held to account. william hill is planning to close around 700 betting shops after a government decision to reduce the maximum stake on fixed—odds terminals from £100 to £2. emma simpson reports. bookies, they've become a firm feature on high streets across the uk. william hill has more than anyone else, but nearly a third of its shops are now set to close. 11,500 jobs at risk. there are 17 in the borough of croydon, too many for some residents. people haven't got the money. some people get their money and then they go to the betting shop and they've got choices everywhere, everywhere, in every street, and i don't think that's right. people outside the betting shops are always asking for money. 20p here, 20p there and they go straight to the machines, they put it straight in, back out again, begging for more. fixed odds betting terminals
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are computerised games at the touch of a button. they've been called the crack cocaine of gambling, where you can lose a fortune in a flash. there are more than 33,000 terminals in towns and cities across great britain. it's big business, generating £1.5 billion in sales last year. but the government cracked down, limiting the maximum stake from £100 to £2 in april, making hundreds of william hill outlets loss—making overnight. jeff i think william hill should've seen this coming. they've known about the announcement for 1h months now, and i do feel sorry for the people who are losing theirjobs, but, unfortunately, this is collateral damage from the addiction and carnage that fixed odds betting terminals cause on the high street. with gambling moving online, many betting shops relied on the huge profits they made from fixed odds betting terminals. with the new stringent cap in place, store closures were inevitable and there could be many more to come.
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the industry is already going through an incredible period of distress. this retail expert is wondering who's going to fill the gaps. in general, a large number of these stores are located in deprived areas across high streets in the uk that are already suffering from high levels of vacancy rates. so, the reality of filling these stores, when demand for retail property is at a 10—year low, is that it's going to be very challenging. hello, i'm tulsen tollett and this is sport today, live from the bbc sport centre. coming up on this programme: women's defending champion, angelique kerber, is knocked out in the second round at wimbledon by a lucky loser. west indies finish their campaign
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at the cricket world cup with a 23 run win over bottom of the table afghanistan in what could be chris gayle's last one day international. and chelsea confirm former player frank lampard will take over at stamford bridge on a three—year contract. hello and welcome to the programme, where we start with tennis, and day four at wimbledon, where the defending women's champion angelique kerber was knocked out, while the grudge match between rafael nadal and nick kyrgios saw the spaniard come out on top. holly hamilton rounds up the day's action at the all—england club. well, it was the class we were all waiting for. nick kyrgios and rafael nadal, it was their seventh meeting. arguing with the umpire, serving underarm and perhaps trying to get underarm and perhaps trying to get under the 18 time grand slam champion's skin. it didn't

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