:00:00. > :00:00.expected to appear in a Spanish court late on Monday. Those are the
:00:00. > :00:22.latest headlines from BBC World News. Now, for the latest financial
:00:23. > :00:28.news. Tougher sanctions within a week. The EU prepares to increase
:00:29. > :00:30.pressure on Moscow with a new blacklist to
:00:31. > :00:41.financial sector. And better together. India's prime
:00:42. > :00:44.minister starts talks in Japan as the two countries look to do deals
:00:45. > :00:47.on energy and military spending. Welcome to World Business Report.
:00:48. > :00:50.I'm Ben Thompson. Also in the programme, we take a closer look at
:00:51. > :00:56.how countries struggling with Ebola are fighting economic isolation. But
:00:57. > :00:59.first, as fighting in Eastern Ukraine intensifies, so Vladimir
:01:00. > :01:06.Putin has called for talks on the "statehood" of south`eastern
:01:07. > :01:09.Ukraine. The provocative line has heightened fears that Moscow is
:01:10. > :01:11.seeking to partition Ukraine. These comments from the Kremlin come as
:01:12. > :01:15.European leaders prepares to impose tougher sanctions on Russia this
:01:16. > :01:17.week. The EU will begin drawing up a comprehensive blacklist of people
:01:18. > :01:25.and companies involved in the conflict in eastern Ukraine. But,
:01:26. > :01:27.there is still disagreement amongst European leaders ` Britain, France
:01:28. > :01:30.and Germany want tougher measures against the Russian financial and
:01:31. > :01:33.energy sectors by the end of the week, but many eastern European
:01:34. > :01:41.countries fear that a trade war with Moscow could cripple their
:01:42. > :01:47.economies. Steven Blockman' s Senior Analyst at the Centre for European
:01:48. > :01:51.Policy Studies is in Brussels. We spoke about the timeline than the
:01:52. > :01:55.proposal of when this could take place. Some suggestions are that if
:01:56. > :02:00.leaders act now, it could be October when these take place? It seems too
:02:01. > :02:05.little, too late. Giving Russia one week of grace, that is like giving
:02:06. > :02:12.it a lifetime to change the course of the game. In the upcoming days.
:02:13. > :02:18.The European Union is again being put on the back foot, with the
:02:19. > :02:23.announcement by President Putin that he aims for statehood in eastern
:02:24. > :02:26.Ukraine. Is this a case of tightening up the existing sanctions
:02:27. > :02:30.which are in place? Looking at the comments from a number of European
:02:31. > :02:34.leaders, calling for different levels of severity, what it comes
:02:35. > :02:40.down to is making sure the existing sanctions that are in place are
:02:41. > :02:46.enforced? Yes, that is right, as far as I gather from comments from
:02:47. > :02:54.Chancellor Merkel, existing sanctions will be sharpened up.
:02:55. > :02:58.Restrictions on loans from state`owned banks in Russia,
:02:59. > :03:02.restrictions on the dual use technology, in exports for oil
:03:03. > :03:08.drilling, that technology and alike, and as you mentioned in the report,
:03:09. > :03:12.the widening of blacklisting of people and entities involved in the
:03:13. > :03:23.separatists in eastern Ukraine. Sorry to interrupt. It seems there
:03:24. > :03:28.are concerns about the effectiveness of these sanctions. They don't come
:03:29. > :03:32.without a cost for the countries that are implementing them because
:03:33. > :03:39.it could backfire on the strength of their own economies. For example, in
:03:40. > :03:44.places like Germany. That's right and that is why many European Union
:03:45. > :03:52.member states are against implementing top perceptions. Many
:03:53. > :03:56.analysts have claimed that energy embargoes might change the calculus
:03:57. > :04:03.of the Kremlin. Others have said that with the total of 17 to 25
:04:04. > :04:15.billion euros going into exports against the EU, this won't change
:04:16. > :04:20.the mind of Putin. Armed support for the Ukrainian government may change
:04:21. > :04:24.it but again, there is no unity amongst member states to provide
:04:25. > :04:30.that kind of military support. In fact, Germany and France have spoken
:04:31. > :04:40.out against such an idea that was floated around by the Latvian
:04:41. > :04:47.president. Thank you. In other news, talks between the new Prime
:04:48. > :04:54.Minister of India and the leader of Japan are taking place today in
:04:55. > :05:02.Tokyo as part of the Indian litre's five`day trip to Japan as he looks
:05:03. > :05:05.to strengthen ties with the country. India is hoping for a deal on
:05:06. > :05:12.defence collaboration between those two nations. More on this from our
:05:13. > :05:19.correspondent who is covering this from our business news hub. What is
:05:20. > :05:29.the significance of these talks? It is all about cooperation in key
:05:30. > :05:32.areas? That's right. It is Narendra Modi's first bilateral trip outside
:05:33. > :05:39.the subcontinent since winning the elections in a landslide victory in
:05:40. > :05:46.May. As you mentioned, joint production of rare earth metals and
:05:47. > :05:51.economic ties are all on the agenda. Today is the day that they
:05:52. > :05:59.are really going to get down to the details, especially when it comes to
:06:00. > :06:04.the economic benefits. Narendra Modi and Shinzo Abe are expected to sign
:06:05. > :06:09.many agreements and in terms of nuclear energy, India has been
:06:10. > :06:16.pushing for an agreement with Japan without giving up its nuclear
:06:17. > :06:20.military programme. This is part of a deal that they had with the United
:06:21. > :06:28.States under which India was allowed to import nuclear fuel and
:06:29. > :06:33.technology. They are also interested in chemically similar elements
:06:34. > :06:39.crucial to the manufacturing of many high`tech products. Japan is
:06:40. > :06:46.currently very reliant on China for this but they are looking to make a
:06:47. > :06:53.deal with India instead. They are hoping to start importing from India
:06:54. > :06:57.in 2015. It is likely that they will agree on joint production at the
:06:58. > :07:02.meeting in Tokyo on Monday according to many reports. These reports also
:07:03. > :07:09.say that annual production is estimated to be roughly 23,000 tons
:07:10. > :07:18.which would be about 3% of the demand from Japan. Thank you. Now to
:07:19. > :07:21.the mounting concern about the effect of the Ebola outbreak which
:07:22. > :07:28.the World Health Organisation has said could cost millions of dollars
:07:29. > :07:36.to tackle over the next six months. A number of airlines have suspended
:07:37. > :07:38.services to Freetown and Monrovia, leading to criticism that these
:07:39. > :08:01.countries are becoming increasingly isolated. From Johannesburg, our
:08:02. > :08:07.correspondent reports. Many feel that the airline industry is
:08:08. > :08:15.overreacting. There is no reason not to come to Sierra Leone. There is no
:08:16. > :08:22.reason not to go to Liberia. Provided you follow the
:08:23. > :08:28.instructions. There is no reason to close shipping to this country.
:08:29. > :08:34.There is no reason for airline companies to stop coming here. Many
:08:35. > :08:41.airlines have seen a significant drop in ticket sales for flights to
:08:42. > :08:45.Liberia and Sierra Leone and so it is no longer profitable to continue
:08:46. > :08:51.with these roots. On land, traders and farmers cannot move their goods
:08:52. > :08:56.due to border restrictions. Regional economies are starting to feel the
:08:57. > :08:59.pain. We must continue to implement measures but we must not implement
:09:00. > :09:07.measures that ostracize the affected countries. Excessive restrictions on
:09:08. > :09:13.travel will adversely affect the economies of the subregion. The
:09:14. > :09:16.United Nations is concerned that the border closures will make it
:09:17. > :09:24.difficult to provide access to much`needed supplies let food and
:09:25. > :09:29.water. `` like. Foreign exchange levels are down and markets are not
:09:30. > :09:39.functioning. Businesspeople have left. It is very damaging. The
:09:40. > :09:46.governments of these regions are now diverting funds meant for other
:09:47. > :09:48.projects to the fight against Ebola and the world food programme is
:09:49. > :09:56.scaling up its operations to provide food for the affected people across
:09:57. > :09:58.these regions. The rapid consolidation of Spain's banking
:09:59. > :10:07.sector took an important step forward over the weekend with news
:10:08. > :10:14.that a merger is taking place `` and acquisition. China's manufacturing
:10:15. > :10:25.industry took a hit this past month which indicates the country may
:10:26. > :10:36.require more stimulus in this area. The PMI is a key gauge of the health
:10:37. > :10:54.of the sector. Markets in Asia are ending mixed today. More coming up.
:10:55. > :11:00.We will take a look at the newspapers and a moment but first,
:11:01. > :11:06.whether you are downloading the latest application or surfing the
:11:07. > :11:10.net, it is all because of a piece of computer code written by someone
:11:11. > :11:12.somewhere in the world. Today, coding will be taught