:00:00. > :00:00.unrest following the shooting of the teenager, reportedly unarmed,
:00:00. > :00:19.Michael Brown. We will keep you up`to`date.
:00:20. > :00:22.Two more airlines has suspended flights to different African
:00:23. > :00:28.destinations in the wake of the Ebola outbreak. If more airlines
:00:29. > :00:33.begin to follow suit, what impact will that have on the broader
:00:34. > :00:35.African economy? And in Switzerland, cheesemakers and
:00:36. > :00:38.other businesses get ready to cash in on the EU and US sanctions on
:00:39. > :00:56.Russia. Welcome to World Business Report.
:00:57. > :01:02.I'm Aron Heslehurst. Let's have a look at the latest business news. We
:01:03. > :01:05.will talk about Switzerland and we have the latest growth figures from
:01:06. > :01:07.Thailand. First, Kenya Airways has suspended all commercial flight
:01:08. > :01:11.operations to Liberia and Sierra Leone from midnight Tuesday. The
:01:12. > :01:14.suspension comes after Korean Air announced last week it. All flights
:01:15. > :01:19.to and from Kenya from Wednesday this week. That underlines the
:01:20. > :01:22.growing fears outside of Africa about the spread of Ebola, however,
:01:23. > :01:30.so far there have been no cases in East Africa, let alone Kenya. If
:01:31. > :01:39.more airlines begin to follow suit, what impact will that have on the
:01:40. > :01:41.broader African economy? Razia Khan, Regional Head of
:01:42. > :01:51.Research for Africa at Standard Chartered, joins us. Looking at this
:01:52. > :01:55.story, you think there are mixed messages coming from the World
:01:56. > :01:59.Health Organization. On one hand they say the outbreak has been
:02:00. > :02:05.farcically underestimated and requires extraordinary measures on a
:02:06. > :02:07.massive scale. `` drastically. But they say they aren't urging
:02:08. > :02:12.organisations to put a blanket ban on travel. It's a hard decision.
:02:13. > :02:18.Unfortunately this is adding to some degree of confusion in the `` in
:02:19. > :02:22.relation to the response required. The Kenyan economy isn't yet
:02:23. > :02:27.impacting but of course it is important as a travel hub. It has
:02:28. > :02:33.the kind of infrastructure that Africa needs more of, in terms of
:02:34. > :02:35.boosting trade. Yet we've had the guidance from the World Health
:02:36. > :02:43.Organization that Kenya might be considered at high risk, precisely
:02:44. > :02:47.because it's a hub. It's also a big hub for cargo. For a lot of that
:02:48. > :02:52.region, it is the gateway to East Africa. A lot of the region's
:02:53. > :02:58.perishables, the produce we consume, go through Nairobi and have to go on
:02:59. > :03:01.planes. Absolutely. Economically, there have been concerns about
:03:02. > :03:05.travel warnings and security issues in Kenya, which have led to a
:03:06. > :03:12.falloff in tourism numbers. Because Kenya is such a big hub for culture
:03:13. > :03:15.and horticulture exporter, it does need this frequency of air traffic
:03:16. > :03:20.into the country to be able to keep cargo costs down. If we see any more
:03:21. > :03:27.cancellations that can potentially have more in `` more than in fact on
:03:28. > :03:30.exports. Is this the start to that? I spoke to experts over economic
:03:31. > :03:36.worries about Ebola and the wider impact on Africa, is busy start to
:03:37. > :03:46.the content and worries? Not of the virus but economic contagion what
:03:47. > :03:52.about Nigeria? `` contagion worries? This is the situation around Nigeria
:03:53. > :03:56.that we have to focus on closely. There was a Liberian traveller going
:03:57. > :04:01.into Lagos. That's the economic hub of the entire sub region. Nigeria is
:04:02. > :04:04.the largest economy in Nigeria, Lagos the centre of a lot of the
:04:05. > :04:10.commercial activity that takes place. So far the impact has been
:04:11. > :04:13.relatively contained and it's hard to pinpoint a clear economic
:04:14. > :04:17.impact. But, should be getting is that this is, greater severity, of
:04:18. > :04:23.Ebola, this could all change and change rapidly. Clearly the risks
:04:24. > :04:28.are there. Risks and worries. Is there a worry that Korean air could
:04:29. > :04:35.be setting the precedent for other airlines to follow? For the moment
:04:36. > :04:39.that kind of reaction is seen as fairly limited. We haven't crucially
:04:40. > :04:44.seen the same for many European airlines, but are more crucial to
:04:45. > :04:47.those ex` other routes. For the moment, this is a developing
:04:48. > :04:58.situation and we will have to monitor it carefully. `` other
:04:59. > :05:03.airline routes. Indeed. Thank you. Now, is it a nice little opportunity
:05:04. > :05:08.or an awkward dilemma? Non EU member Switzerland is in a quandary over
:05:09. > :05:12.Russian sanctions. It hasn't imposed them and so its own goods, like the
:05:13. > :05:15.cheese you can see here, aren't subject to that tit for tat spat and
:05:16. > :05:17.those Russian food banks, a situation that doesn't please
:05:18. > :05:31.Switzerland's biggest trading partner, the European Union.
:05:32. > :05:37.Switzerland has something the Russians crave. Cheese. Here, they
:05:38. > :05:44.have been exporting to Russia for 20 years and now the Russians want
:05:45. > :05:50.more. Much more. Since last Wednesday we received maybe 15 calls
:05:51. > :05:55.from Russia every day. A lot of queries about cheese or dairy
:05:56. > :05:59.products. Russia's bands from EU countries on dairy products means
:06:00. > :06:05.its supermarkets will soon be empty of French camembert or Dutch food.
:06:06. > :06:11.So, the Russians are turning to Switzerland. `` Dutch gouda. But the
:06:12. > :06:16.Swiss want to take `` stay neutral. The government won't adopt
:06:17. > :06:20.sanctions. They say Switzerland would be the place to break them.
:06:21. > :06:24.The policy has highlighted many close ties the Swiss have with
:06:25. > :06:29.Russia. Geneva in particular has strong business ties with Russia.
:06:30. > :06:37.The city is a global hub for commodities trading and 75% of
:06:38. > :06:40.Russian oil is traded here. 66% of Russian green. Sanctions on Russian
:06:41. > :06:46.banks and on Russian individuals could affect this business. ``
:06:47. > :06:51.grain. Geneva traders say they will be forced to comply, whatever
:06:52. > :06:54.Switzerland's policy. Traders are active everywhere in the world. They
:06:55. > :07:01.are already subject to US and EU sanctions, it was of the present in
:07:02. > :07:04.this market. They have to care about that and they have to care for their
:07:05. > :07:09.reputation, also because of the financing, which is transactional
:07:10. > :07:16.financing. This means they have to be careful, so counterparties don't
:07:17. > :07:20.come up against someone who has sections. The opportunity for Swiss
:07:21. > :07:24.cheese makers may not be so great. Unlike the French or Dutch, they are
:07:25. > :07:29.too small to produce the industrial quantities Russia now wants. Its
:07:30. > :07:31.efforts not to take sides in the sanctions may cause Switzerland more
:07:32. > :07:43.pain than gain. We will keep across that story. A
:07:44. > :07:46.sigh of relief in Thailand, as the country narrowly avoided recession.
:07:47. > :07:49.The economy grew 0.9% in the second quarter from the previous three
:07:50. > :07:57.months and 0.4% from a year earlier. Saranjit Leyl is in our Asia
:07:58. > :08:03.Business hub in Singapore. Not bad, given all the worries we had after
:08:04. > :08:10.the last government upheaval. That's right. The growth of just .4% from
:08:11. > :08:14.the previous year, ever so slightly. It does mean Thailand
:08:15. > :08:17.avoids that technical recession everyone feared. The first three
:08:18. > :08:21.months of this year we saw that political chaos, thousands
:08:22. > :08:26.protesting in Bangkok. That's when the economy shrank nearly 2%.
:08:27. > :08:32.Despite the political uncertainty, they are actually seeming to have
:08:33. > :08:36.helped the economy slightly. They have ended the political and
:08:37. > :08:39.economic impasse and this growth basically shows an uptake in
:08:40. > :08:42.consumer confidence, investor confidence as well to summit stand
:08:43. > :08:47.and busily courage the military government, which is said to impose
:08:48. > :08:53.an $80 million budget today to date is delayed the economy. They have
:08:54. > :08:56.renewed payments to farmers, restarted in `` infrastructure
:08:57. > :09:00.plans. They have cut fuel prices. They hope all of this will get the
:09:01. > :09:06.economy going again until some sense of political stability is restored.
:09:07. > :09:09.We know other elements of the economy haven't been doing well,
:09:10. > :09:14.reticular literalism, which is a key part of the Thai economy and counts
:09:15. > :09:19.for some 10% of the total. `` especially tourism. The number of
:09:20. > :09:23.visitors has fallen nearly 12% in the first couple of months of this
:09:24. > :09:30.year from the previous year. Thank you for the update. You can tweak me
:09:31. > :09:31.as well. I will be back shortly to have a look at the headlines from
:09:32. > :09:46.around the world. `` tweet me. We will go to the papers in a
:09:47. > :09:47.moment. First, courts in England