Go to the bbc news website. The address is bbc. Co. Uk news. Or download the bbc news app. Now on bbc news live to singapore for Asia Business report. A dispute between south korea and japan, south korea removed from the list of favoured trading partners. And singapore s super penthouses. A look inside some of the so called little red dots. High rise luxury homes. Japan s decision to drop south korea from its list of favoured trading partners comes into effect today. It means japanese exporters will have to make sure their goods do not benefit sole s military or weapons industry before they can be sold there. Tokyo has already imposed tighter regulations on exports to south korea including material is critical to making memory chips and displays. Companies like samsung, they are the hardest hit. They manufacture more than 60 of memory chips globally and the first 20 days of this month alone we have seen Semiconductor Sales plunged 30 . In this tit for tat move, not south korea says it will lend export procedures for tokyo and scrapped a military intelligence sharing packed. Earlier we asked if the dispute would get worse. Sharing packed. Earlier we asked if the dispute would get worseli sharing packed. Earlier we asked if the dispute would get worse. I think it possibly could. I dont think either country, japan or south korea, wanted this to happen. But u nfortu nately korea, wanted this to happen. But unfortunately it was taken out of their hands when the south korean court said that nippon steel had to pay compensation to a korean worker was made to do forced labour during the Second World War. Japan would like south korea to solve this problem and south korea s government said this is a legal matter and nothing to do with the government and therefore they cannot intervene. We are where we are at the moment. And potentially could get worse down the line for both sides but perhaps more so for self career and its industry. Absolutely. South korea has enough problems already to do what we have in this case is that japan is the major supplier of fluorinated products such as fluorinated polyamide s and Hydrogen Fluoride which is essential in the manufacture of semiconductors. South korea will need to find alternative sources and it will not be able to do it immediately. It will take time and consequently south Korean Companies will suffer. But it is notjust them. Any company that is involved in this production will also be affected. You and i will be affected. You and i will be affected. Simply because everything that we use requires these Semiconductor Chip so we will see higher prices for things like mobile phones . Absolutely. So they do need to salve these problems otherwise we will be paying more. Firstly. We know that this is a row that dates back to the Second World War and has historical context. To what extent can they resolve this . historical context. To what extent can they resolve this . I think they can they resolve this . I think they can and it is simple. What they need to do is to put money into a compensation fund, maybe japan needs to contribute something and south korea contribute something as well as the companies and it can be resolved overnight. But u nfortu nately i resolved overnight. But unfortunately i think that as far as south korea is concerned, they have political issues they need to contend with. There is an upcoming election next year and south korea s leadership wants to see some sort of strength and to be patriotic so there will be some beating ofjust for some while and then maybe it will be resolved after a fall. Dodger bank has said that financial records related to us President Donald Trump and three of his children that have been requested included tax returns. Mr trump has repeatedly refused to release his income tax returns despite promising to do so during his election campaign. It has been the custom for modern us president ial candidates to publish their tax returns. The opioid drug maker Perdue Pharma has offered as much as 12 million to settle lawsuits. They are facing over 2000 lawsuit linked to its opioid painkillers. It said it was actively working towards a global resolution but would not comment on the amount. Tobacco giants Philip Morris international are in talks to reunite more than a decade after the two co m pa ny reunite more than a decade after the two company separated. The combined company with deep worth more than 200 billion. Bp will no longer have any operations in alaska after it they agreed to sell its entire remaining business there to a private oil and gas firm. They will pay 5. 6 million to purchase all of bp s interests in the us state. Earlier this year, india lost its spot as the world s Fastest Growing economy. Letters this week we will find out if it has bounced back and thatis find out if it has bounced back and that is when Economic Growth figures are released. The slump has affected industries that the countries and its people rely on. So what is the damage . India s economy appears to be losing steam. Are bad is it . Well, that can be gauged by looking at a few key industries. India s auto sector is facing its worst crisis in two decades. Sales of cars, motorcycles and scooters are often seen motorcycles and scooters are often seen as a barometer motorcycles and scooters are often seen as a barometer of Economic Growth. That they have been sliding dramatically. India s largest car manufacturer has posted a 36 drop in sales and has axed thousands of jobs. Hundreds of thousands of factories that supply parts to the auto sector have been hit as well did many Auto Companies across the company my country have been forced to temporarily stop production. The Real Estate Industry is also in a slump. Millions of homes and offices remain unsold. A large number of developers have run out of money before completing project. And people are notjust holding off on making big purchases. Sales of everyday goods have also come down. There is a huge decline in demand for products like biscuits and shampoos. People are purchasing fewer soaps, spices, tea and even underwear. However, smart phones, televisions, washing machines and refrigerators seem to have bucked this trend. Their sales are growing. 0verall, this trend. Their sales are growing. Overall, however, for a country that has always depended heavily on consumer demand to drive growth, alarm bells are ringing. Singapore punches of above its weight when it comes to numbers of wealthy residents. James dyson recently made headlines when he paid 54 million for a super penthouse, the most expensive of its kind on the most expensive of its kind on the market. But will the little red dot market wilt as trade tensions grow . This singapore s airport does not just have any mall attached to it. It isa just have any mall attached to it. It is a real estate and entertainment hub with the world s tallest indoor waterfall. Need a luxury sports car . Dont go to the dealer. There is a vending machine full of lamborghinis and ferraris. And for the ultra wealthy, there are super penthouses, properties more than 10,000 square feet with 360 degrees unobstructed views. We have many secret doors that enter another space. This to store luxury flatten the sky goes frontier impping flatten the sky goes frontier popping 35 million, furnished with a luxury accessory library, a tailoring room and a private pool of the master bedroom. A designer s strea m the master bedroom. A designer s stream project. Ourjob is always to give the client what they have only dreamt about. So we are the magician behind a client s wishlist. Dreamt about. So we are the magician behind a client s wishlist. In june, Sothebys International realty compiled a list after they noticed developers were building more of them. In addition to singapore, these exclusive listings are low paid it in new york, monaco and dubai. The demands and the requirements of these ultra affluent investors has gone beyond the usual brick and mortar. They wa nt the usual brick and mortar. They want a place, a signature, someplace they can be proud of to show that make proud to show off. Singapore is a playground for the rich and even though billionaires have their pick of trophy properties, experts say it isa of trophy properties, experts say it is a good place to park their money during tough economic times. Some a nalysts say during tough economic times. Some analysts say that singapore is seeing more foreign buyers looking for a safe base to invest their money as trade tensions between the us and china heat up in the Global Economy cools down. Traditionally, alp property prices have increased over the last decade and they have weathered some of the toughest cooling measures, Even Economic challenges, even financial crisis. This despite the trade headwinds, the demand for these properties in singapore is not slowing down. We started our research and we counted six. To have been sold so we have only four left. It is notjust locals and brits who are snapping up these properties. Buyers from china, india and the us now own a piece of the little red dot. Some incredible looking places there. Lets have a looking places there. Lets have a look at the markets because this is where they are at at the moment. Markets are not taking their cues from wall street due to the fact that there is some bargain hunting going on and some optimism around the fact that china is unveiling some stimulus measures around trying to encourage people to purchase cars and other things. Investors are taking solace in that. This is bbc news. The top stories this hour. Bolivia has called for unity and co operation to fight the fires raging through the amazon rainforest. Its welcomed an offer of billions of dollars of International Aid although its said it may not be enough. 0pposition leaders in britain have pledged to Work Together to stop a no deal brexit. There are more children in care and with foster parents in england than ever, and a growing number of them have been placed there by independent agencies, rather than local councils. Sanchia berg reports. Meet linda. For 12 years, shes welcomed children in care into her liverpool home. Theyre very small, theyre very kind of weighed down, very scared of everything, very. Not willing to engage. And for me the best thing is when they stop talking to you like this, all quiet and hunched, and they kind of reach their full height and they look you in the face when they talk to you, and they find their voice. Today she works directly with liverpool council, even fronting their recruitment campaign, but she started fostering through an independent fostering agency, or ifa. As my ifa was bought out by bigger and bigger ifas so it became a much more profit driven money oriented. Very much whats the bottom line of money coming in, then i think is the focus moved away from children, definitely was not child centred. Andrew, a specialist accountant, follows these agencies. Private equity groups have been buying them, expanding by taking over other fostering agencies, then selling them again. Its profitable. The sort of returns that have been seen and actually some of the people have reported, so were able to kind of triangulate that information, is that theyre often in that say, three, five or seven year period able to double or triple the amount of investment they made at the outset. Record numbers of children are in the care of local authorities. Liverpool pay more for independent places than for in house foster carers. But many argue it is hard to follow the money and the need to be Greater Transparency in this area at a time when record numbers of children are in care. And finally, when you are focused on the camera, it is easy to lose track on what is happening around you. That was learnt by this journalist, reporting on a football match and later told the news agency, because he was live on air he felt he needed to keep on talking no matter what even though he was doused with water. The show must go on. Now on bbc news, sport today. Hello, this is sport today, live from the bbc sport centre. Coming up on this programme naomi 0saka fights to defend her title, as she goes through to the second round of the us open in new york. Hulk to the rescue, as the brazilian scores two penalties for shanghai sipg in their Asian Champions League quarter final first leg against urawa red diamonds. And masters champion tiger woods faces another injury set back as hes ruled out until october following knee surgery. Hello there and welcome to the programme, where we start with the tennis news that top seed and defending champion naomi 0saka is through to the second round of the us open, the years final grand slam, but not without her difficulties. After 0saka won the opening set 6 4, russias Anna Blinkova claimed the second in a tie break to force a decider. And the 21 year old from japan then found her game in the final set to advance to a second round meeting against polands magda linnette. I felt
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