08/02/2017 World Business Report

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Now for the latest financial news with Sally Bundock


Weighing the arguments - a federal appeals court hears


the case for and against President Trump's controversial


travel ban - we talk you through what's at stake.


And share markets in India soar on the hopes its central bank


will cut interest rates to revive the economy -


We'll be live in Mumbai for the latest.


The farmers who put solar panels in their fields.


We start with President Trump's travel ban which has


A panel of appeals court judges hammered away at the government's


arguments that the ban was motivated by terrorism fears.


But they also asked pointed questions over claims it targeted


The hearing was conducted by phone - an unusual step - and while no


verdict was announced a spokesman for the court said it's likely


Whatever the court eventually decides, either side could ask


the Supreme Court to intervene which almost certainly means more


delay and confusion for millions of people around the world and also


for some of the United States' biggest businesses.


President Trump has been trying to temporarily ban people entering


He says "this is about terror and keeping our country safe"


while a stricter vetting system is put in place.


But there have been widespread protests against the ban -


127 companies including the likes of Apple, Google,


Microsoft, Tesla and Levi Strauss have all filed court submissions


in support of the ban being overturned.


In those documents they argued "Multinational companies


In those documents they argued "Multinational companies


To base operations outside the United States"


At the moment many of these companies use the H-1B visa


programme which grants entry to 85,000 skilled foreigners a year


There are approximately three applications for every


With me is Marianna Fotaki, Professor of Business Ethics


Give us your take on how damaging this process is, given we have still


-- to have no conclusion. Many people will agree that this ban is


cool as -- and in sensitive. -- crawl. Banning people from entire


countries. Those people are seen as a suspect of terror without any


evidence being brought. That is unjustified that is perhaps cruel.


People from those countries are really quite poor people and they


have been affected by ill and defies US foreign policy. That is the


ethical grounds. Dubious ethics means dubious business in many


cases. What are the potential impact? In the short term, the ban


is just came as an executive order without clear guidelines, who should


it include. In the beginning, people who were residents were also


affected and then that was overturned. Really, the airport


workers are actually left to decide who they should actually stop from


entering the country and in many cases, this means separating


families, as we have seen. That is the short term. More importantly, if


this ban continues, it will affect the image of the US and not just the


image but business thrives on diversity. Diversity -- innovation


thrives on diversity as well. US is very successful because it has been


conceived as an open, fair and... Sorry, I don't want to interrupt you


but I just have to say, from the point of view of the consumers of


these companies around the world and the companies themselves, if they


put out an application for new workers, obviously this temporary


ban is the suspended at the moment so it is not in place right now, but


even if it was put back in place, the think it will hinder people


coming to the US to work -- to work in the US in the future? People who


have choices will think twice to make US there are home. Even though


the bosses of these companies are very pro-diversity and from


different parts of the world to themselves. Indeed. That is why


there has been this reaction. That is why I would suggest that they use


considerable means to fight this order in the court of law. All


right, thank you the -- for your perspective. When we get any news of


any decision in the US, we will fill you in.


India's central bank meets to review its monetary


It's the first meeting since the government


announced its latest budget, and second after the controversial


Let's cross live to Mumbai and speak to our business reporter Sameer


Nice to see you. Lots of people are hoping there will be a cut in


interest rates. Will they deliver? It is a close one. You look at all


the polls that have been done in the last few days. Most economists feel


that India's central bank will go ahead with the rate cut. Because


inflation has slowed down, it is a primary concern and also the cash


ban which came into place 3.5 months ago, the dust has started to


special. -- settles. It has made clearer what is to come in the


coming months. There is also a school of thought that given that


there is so much cash in the system after the rupee ban because


everybody had to deposit their money back into the banks, banks have


ready started cutting rates. Rates are already down. It's really not


going to have any major impact. If they cut rates in the future. We


will know the ants in 3.5 hours whether they will cut rates not. --


answer. Speak to you soon. After relying on nuclear power


for decades, Taiwan will stop So the government is ramping


up the use of green - or renewable - energy,


by installing wind turbines and converting damaged or unused


farmland into solar farms. Cindy Sui reports from


Southern Taiwan where farmers are cultivating solar


energy instead of crops. These fields are helping Taiwan to


produce modern renewable energy. The soil is damaged and most crops no


longer top - here. Now farmers are helping produce something else


instead. They earn money by a leasing their land to solar energy


companies and taking care of the panels. TRANSLATION: I never an


imagined our ancestors land would be used in this way. This is one of


hundreds of local farmers whose land is getting a new lease on life.


There are projects like this throughout Taiwan. Wherever they


can, the central and local governments are trying to find low


quality or unused land and turn them into solar energy farms. Solar


panels have also been placed on landmark Bill Dixon including Best


aquarium, this stadium and even this prison. -- buildings. It is part of


the planned to do away with an renewable energy which currently


produces 40% of Taiwan's energy. That includes scrapping this newly


built nuclear power pant is for it opens -- power plant, before it


opens. Taiwan also needs more wind turbines and natural gas plants. The


government wants green energy to eventually produce a fifth of the


island's electricity. Although green energy is ticking over in a


agricultural land, that doesn't mean a complete end to farming.


Underneath the solar panels, we grow mushrooms. The electricity we


generate is clean energy. It is good with -- it is good for Taiwan's


energy and good for the world. After a strong surge on Tuesday,


Bombay is taking a pause right now ahead of the rate decision.