:00:00. > :00:00.be targeted. A full list will be published later on Thursday. Those
:00:00. > :00:00.World News. Now for the latest World News. Now for the latest
:00:00. > :00:00.financial news with Sally Bundock and World Business Report. As the
:00:07. > :00:18.risks to Eurozone economies rise, the European Central Bank meets to
:00:19. > :00:20.decide its next move. A state of emergency ` we look at the economic
:00:21. > :00:45.impact of Ebola on West Africa. programme: We look at the rise of
:00:46. > :00:49.China's mobile phone manufacturers. But first: Italy is back in
:00:50. > :00:54.recession, deflation is looming, and Portugal has had to bail out its
:00:55. > :00:57.biggest bank. Since the ECB met last month, the economic picture has in
:00:58. > :00:59.many ways deteriorated, and things could get even worse. On Wednesday
:01:00. > :01:01.Russia retaliated to European sanctions by banning some food
:01:02. > :01:05.imports, creating more headaches for EU exporters. When the ECB meets
:01:06. > :01:06.later today, it will have plenty to talk about, but what can it do?
:01:07. > :01:20.Nigel Cassidy reports. euro1 talk about, but what can it do?
:01:21. > :01:25.N of cheap long`term loans are on the
:01:26. > :01:32.way. Some interest rates are below zero. But France says it
:01:33. > :01:36.enough. The country risks failing to rein in its public deficit to 3% of
:01:37. > :01:40.economic output. Its president once the ECB to make a start on
:01:41. > :01:46.large`scale asset purchases to boost growth. No action is expected today,
:01:47. > :01:51.but ECB chief may be pressed on the risks posed by falling prices. One
:01:52. > :01:57.large economies like that of fronts. I think if you are looking at the
:01:58. > :02:02.ECB to rescue us it might be too ambitious goal. Looking to it to
:02:03. > :02:07.shore up the situation. That is the point of Central Bank exercises.
:02:08. > :02:11.They are not there to rescue the situation, they are there to provide
:02:12. > :02:16.reading space. And that is desperately what we need. The
:02:17. > :02:21.eurozone hasn't had any respite from the dangerous cycle of low inflation
:02:22. > :02:26.and low growth. And good economic news has been in short supply this
:02:27. > :02:31.summer. New data shows easily slipping back into recession.
:02:32. > :02:35.Portugal has had to rescue it largest private bank. Rekindling
:02:36. > :02:41.fears about financial contagion. But the ECB may draw some comfort from
:02:42. > :02:45.the slight fall in the euro currency exchange rate. It can only hope
:02:46. > :02:51.growth and inflation may creep up in the coming months. Yet it may need
:02:52. > :02:59.to get hoped`for large`scale asset purchases out of its policy tool box
:03:00. > :03:05.in autumn. And when we hear from the ECB we will update you. As you've
:03:06. > :03:08.been hearing, health experts are gathering for a second day of talks
:03:09. > :03:11.about how to tackle the Ebola outbreak, with the World Health
:03:12. > :03:13.Organization expected to declare a global health emergency of
:03:14. > :03:16.international concern. In the last few hours Liberia has declared a
:03:17. > :03:19.state of emergency, following a similar move by Nigeria on
:03:20. > :03:21.Wednesday. We are looking at the economic impact. Guinea, where the
:03:22. > :03:23.Ebola outbreak began, has a population of 11 million, mainly
:03:24. > :03:26.dependent on farming. Neighbouring Liberia and Sierra Leone, where the
:03:27. > :03:29.disease quickly spread, are amongst the poorest countries in the world.
:03:30. > :03:32.Africa's largest economy, Nigeria, is now affected, with one death
:03:33. > :03:35.there so far. This is a booming economy, but it is also one of the
:03:36. > :03:38.most populous, and health officials are very concerned about containing
:03:39. > :03:40.Ebola there. In the meantime, airlines such as British Airways
:03:41. > :03:43.have stopped flights to Liberia and Sierra Leone for one month, bringing
:03:44. > :03:51.further isolation to these economies. With me is Manji Cheto
:03:52. > :03:59.from Risk Analysts Teneo Intelligence, and an expert on West
:04:00. > :04:03.Africa. Good morning. Thank you for coming in. We have two very
:04:04. > :04:08.different scenarios, Nigeria of course is a huge nation. The
:04:09. > :04:13.outbreak is in Lagos, the capital city, but if we talk about Liberia,
:04:14. > :04:17.Sierra Leone, and Guinea to start with, and the impact air, there is
:04:18. > :04:24.farming but also a big mining industry, isn't? Absolutely. Again,
:04:25. > :04:28.obviously, the agriculture sector, particularly farming, accounts for
:04:29. > :04:34.most of the jobs in the country. They are export economies which come
:04:35. > :04:38.from main affected areas, the border areas of Sierra Leone, beginning in
:04:39. > :04:43.Liberia. We will see an impact there. We have already seen farmers
:04:44. > :04:47.abandoning their farms there. From a mining perspective that is a huge
:04:48. > :04:50.contributor to GDP growth. So far mining companies in the three
:04:51. > :04:54.countries have said they had not been affected. However we know that
:04:55. > :04:57.they have pulled out non`essential personnel from the countries. And
:04:58. > :05:03.already, we need to start considering the possibility that we
:05:04. > :05:08.could see about 0.5 to 1% of GDP shaved off the GDP productions for
:05:09. > :05:13.this year. Because those three countries are pretty much in
:05:14. > :05:17.lockdown, aren't they? Absolutely. So what about Nigeria? Penetrating
:05:18. > :05:22.Nigeria, with somebody who travelled to the country and had it but didn't
:05:23. > :05:26.know it at the time. There is a small area being cordoned off in
:05:27. > :05:30.Lagos. Tell us about the situation there. All the confirmed cases in
:05:31. > :05:34.Lagos have an identified by authorities as primary contact,
:05:35. > :05:37.meaning that they had contact with the index patient, meaning the one
:05:38. > :05:41.patient who flew into the country. So so far, I expect in the next few
:05:42. > :05:46.days, businesses in Lagos will continue. Airing in mind that a lot
:05:47. > :05:49.of the multinationals operating in Africa have headquarters in Lagos.
:05:50. > :05:54.We are talking about the financial, oil, other sectors, major firms
:05:55. > :05:58.based out in Lagos, even infrastructure, which is a booming
:05:59. > :06:03.industry in Africa, but also Nigeria as well. And at the moment, because
:06:04. > :06:08.a lot of the infections confirmed within this contained health
:06:09. > :06:15.surveillance were not yet in a situation where we can consider the
:06:16. > :06:18.economic impact Nigeria. However, if we have confirmed cases within
:06:19. > :06:22.central parts of the city, for individuals not identified as part
:06:23. > :06:25.of the health operation, then we will definitely start to consider
:06:26. > :06:29.the huge economic impact for Nigeria. Thank you very much for
:06:30. > :06:33.sharing your thoughts on that situation. We are keeping you
:06:34. > :06:35.up`to`date. The rise of the cheap, home`grown smartphone makers has
:06:36. > :06:38.seen Samsung knocked off its perch as the number one seller in the
:06:39. > :06:45.world's biggest market, China. Rico Hizon is in Singapore for us to tell
:06:46. > :06:49.us more. Lovely to see you. Tell us more about this shift. A big blow
:06:50. > :06:56.for Samsung, presumably? That's right. You have the lights of a
:06:57. > :07:00.Beijing `based company, not popular internationally, has sold more
:07:01. > :07:04.smartphones than anyone else in the three months to the end of June,
:07:05. > :07:10.including Samsung. There is an appetite for mid` to low range smart
:07:11. > :07:13.smartphones, where the volumes are. And this is where they have found
:07:14. > :07:16.their niche. And another fact which has gained their market share is
:07:17. > :07:22.their great engagement with their customers, through software and
:07:23. > :07:28.services. But Samsung has also been given a run its money in India,
:07:29. > :07:34.where the local phone maker Micromax is also winning customers. So they
:07:35. > :07:38.are being India in their respective markets. They want to replicate this
:07:39. > :07:44.strategy in other markets. If they can make inroads into India, where
:07:45. > :07:50.Micromax wants to make its mark in Russia. But the Indian company also
:07:51. > :07:55.faced issues. They have had problems with meeting demand in India, and
:07:56. > :07:59.supply chain management. You may not have heard of this sport. The sport
:08:00. > :08:03.of kabaddi is played by millions in India, but it's rarely in the news
:08:04. > :08:06.and players are unknown. So can a new tournament raise its profile,
:08:07. > :08:10.and be a viable business? The BBC's Simon Atkinson reports from Mumbai.
:08:11. > :08:16.Cricket may be India's sporting obsession, but this is the country's
:08:17. > :08:32.traditional home`grown game. Kabaddi has been played here for centuries,
:08:33. > :08:38.especially in rural India. This is kabaddi in its purest form,
:08:39. > :08:41.high`tempo and plenty of colour. A recipe which the founders of the
:08:42. > :08:45.professional league hope will make it more mainstream. It is not just
:08:46. > :08:48.about the games. There is plenty of razzmatazz as well. Not least, the
:08:49. > :08:51.famous faces from Bollywood who are watching matches, owning teams, and
:08:52. > :09:03.quite happy to get involved in the hype. One, two, three. Like IPL, it
:09:04. > :09:09.is designed for TV. This channel is one of its major investors, not just
:09:10. > :09:13.broadcasting pictures, with the long`term aim of making it
:09:14. > :09:16.mainstream. It might be slow going. In this first season, some teams
:09:17. > :09:22.have struggled even to get sponsors. The big winners of the new league
:09:23. > :09:29.seem to be the players. Salaries have leapt from around $500 a month
:09:30. > :09:36.to more than $5000. But can these recruits really propel the game to a
:09:37. > :09:42.new level? Everytime a sport has become popular, one of the reasons
:09:43. > :09:45.is one breakthrough player. This is going to be a big challenge, in
:09:46. > :09:48.India we need icons, and currently kabaddi has no icons. Youngsters
:09:49. > :09:51.like these will keep paying again, as well as cricket of course. But
:09:52. > :09:57.kabaddi's chance of finding mainstream popularity still seems in
:09:58. > :10:03.the balance. If you didn't know about that sport, you heard it here.
:10:04. > :10:11.Looking at the markets. The ECB meeting today. Bank of England
:10:12. > :10:13.meeting in Japan. Say as well, a story breaking overnight, several
:10:14. > :10:17.newswires have reported tank of America is nearing a
:10:18. > :10:27.$16`$17000000000 settlement to resolve its investigation into its
:10:28. > :10:41.role in the sale of mortgage`backed securities in 2008. Welcome back.
:10:42. > :10:44.Researchers say they have found the strongest evidence yet that older
:10:45. > :10:45.people who don't get enough vitamin D