0:00:10 > 0:00:12I'm Babita Sharma with BBC World News.
0:00:12 > 0:00:16Our top story.
0:00:16 > 0:00:19President Trump says he's not expecting a trade war with China
0:00:19 > 0:00:21despite new US import tariffs that target Asian manufacturers.
0:00:21 > 0:00:24The tariffs on washing machines and solar panels are part
0:00:24 > 0:00:29of Mr Trump's "America First" policy to protect local industry.
0:00:29 > 0:00:33China and South Korea are among those unhappy at the move.
0:00:33 > 0:00:36The US Attorney-General, Jeff Sessions, has become the first
0:00:36 > 0:00:40member of President Trump's cabinet to be questioned
0:00:40 > 0:00:42by the Special Counsel investigating alleged Russian interference
0:00:42 > 0:00:45in the presidential election.
0:00:45 > 0:00:47And this video is trending on BBC.com.
0:00:47 > 0:00:50It's a timelapse of the Philippines' most active volcano,
0:00:50 > 0:00:53Mount Mayon - which has been spewing ash on local communities.
0:00:53 > 0:01:00There are fears of a major eruption after two weeks of activity.
0:01:00 > 0:01:01That's all from me for now.
0:01:01 > 0:01:10Stay with BBC News.
0:01:10 > 0:01:14And the top story here in the UK.
0:01:14 > 0:01:17The Foreign Secretary, Boris Johnson, has been rebuked
0:01:17 > 0:01:19by the Prime Minister and other cabinet colleagues after saying
0:01:19 > 0:01:21the NHS should be given extra money.
0:01:21 > 0:01:33Now on BBC News all the latest business news live from Singapore.
0:01:33 > 0:01:3911 countries have agreed to join the Trans-Pacific Partnership but how
0:01:39 > 0:01:49much does this deal will mean without the United States? Prime
0:01:49 > 0:01:52Minister Narendra Modi tells the World Economic Forum that India is
0:01:52 > 0:02:00open to business. Good morning, Asia. Hello, world. Glad you could
0:02:00 > 0:02:05enjoy and dashed glad you could join us for another exciting addition of
0:02:05 > 0:02:10Asia Business Report. 11 countries are aiming to form an Asia-Pacific
0:02:10 > 0:02:14trade pact. They have all reached a deal and will be signing a final
0:02:14 > 0:02:23agreement this March in Chile. Also called the TPP 11, it does not use
0:02:23 > 0:02:27include the United States after Donald Trump withdrew. Timothy
0:02:27 > 0:02:34McDonald is in the newsroom. How significant is the TPP without the
0:02:34 > 0:02:38United States?The answer is much less significant. Given that it is
0:02:38 > 0:02:43in fact the biggest economy in the world. You are talking about a
0:02:43 > 0:02:48market of 300 million people. Of course, by any objective measure, it
0:02:48 > 0:02:52is less significant. That said, US wheat growers have expressed concern
0:02:52 > 0:02:58about not being included. Canadian auto workers are worried about being
0:02:58 > 0:03:04part of the deal. It is also a very interesting snapshot of where things
0:03:04 > 0:03:09are at with trade negotiations because on one hand, we have this
0:03:09 > 0:03:14agreement, which is about come off. We have the President, Donald Trump,
0:03:14 > 0:03:18slapping tariffs on Chinese solar and large family washing machines
0:03:18 > 0:03:23and on top of that, there is an extremely vigorous round of Nafta
0:03:23 > 0:03:31negotiations going on. That is going to be made even trickier by the fact
0:03:31 > 0:03:35the US has imposed tariffs on Canadian aerospace company
0:03:35 > 0:03:40Bombardier. The Australian Prime Minister Malcom Turnbull said that
0:03:40 > 0:03:45all would be open for the US should it ever decide to join but it's
0:03:45 > 0:03:50difficult to see that happening at least within the next three years.
0:03:50 > 0:03:55The other members want to prove they can do it without the United States.
0:03:55 > 0:04:04This agreement comes as world leaders gather in Davos. Prime
0:04:04 > 0:04:09Minister Narendra Modi is the first Indian leader to attend in 20 years
0:04:09 > 0:04:14and it's one of the fastest growing economies in the world. The
0:04:14 > 0:04:20government expects growth of 6.5% this fiscal year while growth is
0:04:20 > 0:04:26expected to increase next year. Despite some economic rot -- despite
0:04:26 > 0:04:31some economic reforms and the goods and services tax. Narendra Modi is
0:04:31 > 0:04:39facing a huge challenge of the wealth gap. 1% owned 60% of the
0:04:39 > 0:04:44wealth, a gap second only to Russia. He opened a form with some tough on
0:04:44 > 0:04:54trade.
0:04:54 > 0:04:58TRANSLATION: forces of protectionism are raising their heads against
0:04:58 > 0:05:03globalisation. Their intention is not only to avoid globalisation
0:05:03 > 0:05:06themselves but they also want to reverse its natural glow. The result
0:05:06 > 0:05:11of all of this is that we get to witness new types of tariff and
0:05:11 > 0:05:16nontariff barriers. Bilateral and multilateral trade agreements and
0:05:16 > 0:05:23negotiations have come to a kind of standstill.
0:05:23 > 0:05:30I am joined by our business correspondence. What does this mean
0:05:30 > 0:05:38for Indian's relationship with the rest of the world?The comments of
0:05:38 > 0:05:42Narendra Modi really echoed what China's president said last year at
0:05:42 > 0:05:50Davos as well. He tried to position India as a counter to the US and
0:05:50 > 0:05:55China. He brought up a lot of things including terrorism and climate
0:05:55 > 0:06:03change and of course protectionism as we heard. He went after China and
0:06:03 > 0:06:09Blues alluded to its hunt and natural in Africa. And its
0:06:09 > 0:06:13relationship with Pakistan. But really, his speech was aimed at one
0:06:13 > 0:06:24country. As we heard, non- barrier tariffs are really affecting
0:06:24 > 0:06:30domestic business in India, they are affecting the price of imports. So
0:06:30 > 0:06:36the speech of Narendra Modi was really in trying to reduce that.
0:06:36 > 0:06:44That was affecting investments, business. Indian investment could
0:06:44 > 0:06:48really help that. He also wanted to pitch India as an investment
0:06:48 > 0:06:59destination. He quoted scripture that said the world is one big
0:06:59 > 0:07:07family and we need to bridge those gaps rather than break them down.
0:07:07 > 0:07:12Thank you so much for that update. Stating with India. Over the past
0:07:12 > 0:07:17few years, the country has emerged as a fierce battleground for
0:07:17 > 0:07:25International technology companies. Amazon, Google, Facebook, Uber, all
0:07:25 > 0:07:36want a slice of a promising market. Shelling out $12 million in a
0:07:36 > 0:07:41little-known start-up.
0:07:42 > 0:07:48We find out what caught Google's interest. At this time last year,
0:07:48 > 0:07:55this 33 wrought was staring at a crisis. His app based servers had
0:07:55 > 0:08:01started off well. The ship professionals used macro free -- is
0:08:01 > 0:08:06Dunzo to so many things but two years on, he was struggling to pay
0:08:06 > 0:08:11his 1500 bikers. That is when Google came calling.It's been tough people
0:08:11 > 0:08:22invest in. They will all about solving a problem.With almost 500
0:08:22 > 0:08:27million users, India is the world's second largest on line market and is
0:08:27 > 0:08:32growing. Global giants like Amazon and Ali Barba realise the potential
0:08:32 > 0:08:38in India and with an investment in a home-grown start-up like Dunzo,
0:08:38 > 0:08:44Google is sending a clear message that it is here to stay and it can
0:08:44 > 0:08:49be more than just a search engine. To do that, Google is going beyond
0:08:49 > 0:08:54the virtual world into the real world, by allowing customers to
0:08:54 > 0:08:58search and then purchase within its ecosystem.A number of companies are
0:08:58 > 0:09:04doing this like in many markets. We had done a number of investments
0:09:04 > 0:09:13like this. We tend to look at, are they in the right space, do they
0:09:13 > 0:09:18have the right product? In this case, we were really excited by all
0:09:18 > 0:09:27three factors.The deal has changed the fortunes of those working for
0:09:27 > 0:09:33Dunzo whose regular income and job security are invaluable to them. Are
0:09:33 > 0:09:38you feeling cold? And for Dunzo customers like this woman, it is a
0:09:38 > 0:09:42service she has come to rely on, especially on days when the office
0:09:42 > 0:09:47is cold.It would have taken me an hour to get my jacket but I got it
0:09:47 > 0:09:54in ten minutes.Dunzo serves almost 3500 customers every day and is
0:09:54 > 0:09:58planning to expand. You can't put a price on convenient and that is
0:09:58 > 0:10:02something Google has realised is the key to getting a foothold in the
0:10:02 > 0:10:10Indian market.
0:10:10 > 0:10:14Investigators in the United States are investigating the crash of a
0:10:14 > 0:10:17Tesla vehicle with a fire truck while driving in semiautonomous
0:10:17 > 0:10:22mode. It's the second time a crash may be linked to autopilot. It
0:10:22 > 0:10:26highlights some of the concerns with the technology but the chairman of
0:10:26 > 0:10:30Nissan and Mitsubishi motors says despite the worries, autonomous
0:10:30 > 0:10:35driving will be here very soon.This is going to happen in the next 5-6
0:10:35 > 0:10:41years, gradually. This is something on which we are working very hard.
0:10:41 > 0:10:45It is development to put this technology into the car. A lot of
0:10:45 > 0:10:50announcement made by many carmakers. We want to see who is going to come
0:10:50 > 0:10:57to mass market this technology. Obviously today, we are the largest
0:10:57 > 0:11:00producer of electric cars in the world. We have the intention to be
0:11:00 > 0:11:04in between the first carmakers to bring autonomous and connective
0:11:04 > 0:11:13cars.The US Senate has confirmed Joe Rowen Powell as the next head of
0:11:13 > 0:11:22the Central Bank, succeeding Janet Yellen. -- Joe Powell. He will hold
0:11:22 > 0:11:26the job for four years. And before we go, let's have a look at the
0:11:26 > 0:11:35markets. As you can see, most of them are in negative territory.
0:11:46 > 0:11:49This is after the Dow Jones industrial average