Browse content similar to 07/08/2017. Check below for episodes and series from the same categories and more!
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I'm Babita Sharma with the BBC News headlines. | :00:11. | :00:13. | |
China urges North Korea to suspend its nuclear and missile | :00:14. | :00:17. | |
programmes after the UN approves new sanctions. | :00:18. | :00:19. | |
The measures aim to deprive Pyongyang of more than $1 billion | :00:20. | :00:22. | |
China says that sanctions are needed, but has been | :00:23. | :00:26. | |
A government-backed investigation in Myanmar has rejected allegations | :00:27. | :00:33. | |
that its military committed atrocities against Rohingya Muslims | :00:34. | :00:35. | |
The UN argued it's likely that crimes against humanity | :00:36. | :00:38. | |
And this story is trending on bbc.com. | :00:39. | :00:47. | |
Iranian MPs have been urged to take courses in universal moral values | :00:48. | :00:50. | |
after some of them crowded around EU diplomat Federica Mogherini to take | :00:51. | :00:54. | |
Some social media users said MPs had embarrassed the nation. | :00:55. | :01:01. | |
The Government has launched a review into the cost of energy, | :01:02. | :01:15. | |
But critics have questioned what the inquiry, to be completed | :01:16. | :01:20. | |
by the end of October, will actually achieve. | :01:21. | :01:22. | |
Now on BBC News, all the latest business news live from Singapore. | :01:23. | :01:37. | |
The UN hits North Korea with its harshest sanctions yet over its | :01:38. | :01:47. | |
nuclear and missile programme. And trading in big bucks for cash. | :01:48. | :02:00. | |
Sowing the seeds of a childhood dream. Good morning, Asia. Hello, | :02:01. | :02:09. | |
world. Welcome to another edition of Asia Business Report. It's a Monday. | :02:10. | :02:13. | |
I am Marika Oi. The UN Security Council unanimously approved tougher | :02:14. | :02:15. | |
sanctions against North Korea which could cost the country $1 billion a | :02:16. | :02:21. | |
year. The US and China agree to the new measures after a month of talks | :02:22. | :02:24. | |
with the hope they will pressure Pyongyang back to the negotiating | :02:25. | :02:30. | |
table. Our reporter is on the story. Tell us the details of these new | :02:31. | :02:35. | |
sanctions. As you mentioned, it is the toughest yet. Critically, China | :02:36. | :02:42. | |
is on board. For these new sanctions to be effective, China needs to step | :02:43. | :02:46. | |
up to the plate, which they seem to have done. They take 90% of the | :02:47. | :02:51. | |
trade with North Korea. International sanctions are looking | :02:52. | :02:56. | |
to hurt North Korea where it hurts most, the economy. They will do this | :02:57. | :03:00. | |
in three ways, banning key exports of coal, seafood, and iron and lead. | :03:01. | :03:10. | |
The second is banning new joint ventures with the country and | :03:11. | :03:14. | |
investment. Even Egyptian firms are operating in Pyongyang already. The | :03:15. | :03:22. | |
third aspect is the 100 thousand North Koreans working overseas. Now, | :03:23. | :03:28. | |
no more guest workers are allowed from North Korea. That is to cut the | :03:29. | :03:34. | |
money going back to Pyongyang. It is one thing to agree on new sanctions. | :03:35. | :03:39. | |
In the past, we had issues of actually enforcing them. Can they | :03:40. | :03:42. | |
and forced them this time? China has been accused in the past of not | :03:43. | :03:50. | |
implementing sanctions. They have always wanted a softer approach with | :03:51. | :03:54. | |
Pyongyang. They don't want the regime run by Kim Jong-un to | :03:55. | :04:01. | |
collapse and they would have a refugee situation on the doorstep. | :04:02. | :04:08. | |
They support this because they would face secondary sanctions from | :04:09. | :04:14. | |
America. As they are the biggest trading partners with each other, | :04:15. | :04:18. | |
China cannot afford that either. The records keep coming from US markets. | :04:19. | :04:23. | |
Just last week, the Dow Jones industrial average broke 22,000 | :04:24. | :04:27. | |
points for the first time ever. Look at the numbers from Friday! Well | :04:28. | :04:33. | |
above that psychological mark. What does this high valuation tell us | :04:34. | :04:40. | |
about the economy? We have this report from New York. US markets | :04:41. | :04:46. | |
have been doing this a lot lately, reaching record-breaking milestones, | :04:47. | :04:51. | |
something everyone is taking notice of, even the president. The stock | :04:52. | :04:55. | |
market hit an all-time record high today, over 22,000. We have picked | :04:56. | :05:01. | |
up substantially now, more than $4 trillion in net worth in terms of | :05:02. | :05:05. | |
our country, our stocks, our companies to bite it is true | :05:06. | :05:11. | |
companies are on a record-breaking move. Amazon hit an all-time high. | :05:12. | :05:17. | |
That is giving to these high as. As US markets go higher and higher, we | :05:18. | :05:23. | |
should see more companies going public and listing on places like | :05:24. | :05:27. | |
the New York Stock Exchange. But that is not happening. In fact, | :05:28. | :05:32. | |
quite the opposite. The number of US companies that are listed are | :05:33. | :05:35. | |
actually going down. Over the last decade, the number | :05:36. | :05:36. | |
-- 3671. Nowadays, they have bank loans and even go overseas for | :05:37. | :06:04. | |
investment. If there are less companies trading on the market, | :06:05. | :06:08. | |
where has all this cash gone? People are wondering, if market | :06:09. | :06:13. | |
capitalisations are as healthy as they are, and yet there are so many | :06:14. | :06:19. | |
fewer firms, it must mean the typical firm is much larger than it | :06:20. | :06:22. | |
once was. We are seeing that and lots of evidence is pointing that | :06:23. | :06:26. | |
way up is furthermore, there is a much greater concentration of that | :06:27. | :06:30. | |
capital in certain kinds of firms. That kind of thing does not help the | :06:31. | :06:37. | |
broader US economy. Regulators are taking note. The president should | :06:38. | :06:40. | |
use caution before taking credit. BBC News, New York. It has been two | :06:41. | :06:47. | |
months since several Middle Eastern countries and Egypt cut ties with | :06:48. | :06:54. | |
Qatar for alleged ties to terrorism, which the country denies. That has | :06:55. | :06:58. | |
changed the environment of the wealthy countries. How much of an | :06:59. | :07:02. | |
impact has been on businesses, it in particular the financial industry? | :07:03. | :07:10. | |
There is definitely an impact. It is significant. In terms of financial | :07:11. | :07:15. | |
stability, Qatar is a stable economy. They have resources. They | :07:16. | :07:22. | |
have sovereign funds and Central Bank cash of $40 billion, twice the | :07:23. | :07:35. | |
GDP. That is the long-term stable financial support. That will be the | :07:36. | :07:40. | |
proactive support for the bank and business model. At the same time, we | :07:41. | :07:49. | |
have seen the blockade. They want to move from WA2 to WA3. It doesn't | :07:50. | :07:53. | |
mean anything. The financial stability of Qatar is a given in the | :07:54. | :08:02. | |
long-term. The overall impact will be very, very minimal. What about | :08:03. | :08:07. | |
foreign deposit, though? They have fallen sharply, in fact, the most in | :08:08. | :08:14. | |
almost two years. That must have an impact on your business. Yes. There | :08:15. | :08:19. | |
is a drain on deposits. There are knee-jerk reactions. This is unheard | :08:20. | :08:26. | |
of. It has destabilised things in terms of those deposits. That is | :08:27. | :08:33. | |
locally. Look at the demographics. And also, the outflow is $6 billion | :08:34. | :08:40. | |
which is insignificant compared to the net assets Qatar has got. Yes, | :08:41. | :08:48. | |
it is drained, but it is not significant. $6 billion is outflow. | :08:49. | :08:55. | |
They have to mobilise short-term liquidity. That is precisely what | :08:56. | :09:02. | |
happened. Japan's agriculture industry is facing an acute | :09:03. | :09:08. | |
shortage. The number of farmers has fallen 20% in the last decade. The | :09:09. | :09:11. | |
country is having to rely heavily on imports of food. That is why | :09:12. | :09:21. | |
governments in Japan are trying to encourage start-ups. I met a | :09:22. | :09:24. | |
28-year-old entrepreneur who has taken a huge pay cut to pursue her | :09:25. | :09:33. | |
passion. Moving to a farming out it. This 28-year-old was once a | :09:34. | :09:37. | |
highflying consultant for McKenzie. Today she is the Chief Executive of | :09:38. | :09:48. | |
a small start-up called SenseSprout. It is a sensor that measures | :09:49. | :09:54. | |
temperatures and ground moisture. Farmers can understand what is going | :09:55. | :09:57. | |
on in the soil from their house, even when they are travelling | :09:58. | :10:03. | |
abroad. These new ideas are what the government wants to encourage in the | :10:04. | :10:08. | |
agriculture industry. So they receive funding from the government. | :10:09. | :10:13. | |
We still need support from the government because it is not | :10:14. | :10:17. | |
something that can become profitable overnight. First of all, we have to | :10:18. | :10:23. | |
wait for the plants to grow to get the experiment results. At lunch, I | :10:24. | :10:31. | |
asked her how farmers react to her being a young female CEO. There is a | :10:32. | :10:36. | |
bit of competition. Especially in 30s and 40s. They tend to welcome us | :10:37. | :10:43. | |
a light. It is more like ignorance, though. For younger farmers, the | :10:44. | :10:49. | |
technology has allowed them to be more efficient. Chants we used to | :10:50. | :10:58. | |
rely on our gut feeling. -- TRANSLATION:. There was no way of | :10:59. | :11:03. | |
finding out how accurate we were. A product like this is very useful. | :11:04. | :11:09. | |
Until recently, these sensors were rented out for free. Today, the | :11:10. | :11:13. | |
company has several customers who pay $1000 per sensor. But it meant a | :11:14. | :11:22. | |
big gamble for Lisa. Financially, I get enough money to support myself, | :11:23. | :11:28. | |
so it is OK. I am still learning, but it is a series of interesting | :11:29. | :11:32. | |
challenges. Convincing more young people to follow her footsteps is | :11:33. | :11:36. | |
what the government needs to do to jumpstart the economy. We will show | :11:37. | :11:44. | |
you the markets before we go. Asian markets are higher because of the | :11:45. | :11:50. | |
strong jobs numbers from the United States on Friday. That is it for | :11:51. | :11:55. | |
this edition of Asia Business | :11:56. | :11:56. |