Transcripts For BBCNEWS Asia Business Report 20170710

To the us for experimental drug treatment. Now on bbc news, all the latest Business News live from singapore. China paints a green path for electric car technology, is the rest of the world willing to follow . And Women In India are fighting a taxing battle when it comes to personal hygiene products. Hello, asia. Good morning, world glad you could join us for this edition of Asia Business report, im rico hizon. China has a growing appetite for electric cars, sales there overtook the us last year and there overtook the us last year and the worlds biggest Car Manufacturers are paying attention. Of all though, owned by a chinese company, announced last week it will only make fully electric or hybrid vehicles by 2019 volvo. Tesla is close to locking in a deal to open its First Factory on the mainland. Automotive analyst bill russo believes all carmakers will follow suit in the not too distant future. Its been a good run. Its been 130 yea rs its been a good run. Its been 130 years since the invention of the internal Combustion Engine and the use of the Automotive Industry and we are about to see more change in the next decade than weve seen in the next decade than weve seen in the last 100 years and the announcements of the past week in particular of volvo putting in electric motors in all their vehicles by 2019, dimer partnering with beijing auto, tesla launching the model three and exploring opportunities to localise in china, i think youve already seen the Automotive Industry recognising china is the market that will scale up china is the market that will scale up and become the Largest Electric Vehicle Market in the world and you will see both multinational and local companies participating. The trend is growing in the butt will workers on Assembly Lines in asia who Make Fuel Vehicles be displaced because of the technology needed to make electric cars . The repowering of transportation and the Re Parroting Of Automobiles will come along with a reconfiguration of production and Supply Chains. Peoples skills may need to be adapted to that new reality but were already talking about both local and multinational brands embracing both policies as well as the up of production. Battery Supply Chains along with the manufacturing footprint, i think what were about to see in the next few years is china becoming the principal manufacturing and production location for electric vehicles in the world. Has long founder elon musk has tweeted the first picture of their new model three vehicle after it came off the assembly line. It is teslas First Mass Market car and it will cost around 35,000 us dollars, almost half the price of teslas next cheapest model. In other Business News, chinas costco is buying rival Container Shipping Company for 6. 3 billion us dollars in cash. The takeover will create a strong asian competitor to the p2 alliance of Denmarks Maersk line and. Alliance of Denmarks Maersk line and they operate two of the Worlds Largest Container Fleet is. The Opposition Candidate is now mongolias president after a contentious run off election. The businessmen and martial artist ran ona businessmen and martial artist ran on a populist platform promising Government Help for students in an aggressive stance towards china. He inherits a lagging economy suffering from lower commodity prices, especially on its main export, copper. Its taken a decade but it looks like ice land has recovered from its banking turmoil. Ratings agency fitch has upgraded their Sovereign Rating and outlook following robust economic growth. They also recently lifted Capital Controls put in place after three of its biggest banks employed in 2008. Lets now turn our attention to a few things investors are on the lookout for this week. Later this morning china will update its Inflation Data for the month of june, which will give us more clues about its economic health. 0n tuesday pep see reports Second Quarter earnings and the big question is, are the consumers losing their appetite fizzy drinks . More people are battling obesity. Malaysia and south korean Central Banks will announce Interest Rate decisions mid week. Earlier i spoke with an economist who told us what we can expect. It will indicate the chinese economy has stabilised in the first half of last year, it decelerated quite significantly and there was a substantial boost to credit and social financing in the second half of the year and into early this year, which helped stabilise the economy. Growth is just year, which helped stabilise the economy. Growth isjust below year, which helped stabilise the economy. Growth is just below 7 , exactly where china wants it. There is still this massive problem of bad debts, why isnt this impacting Investor Sentiment . Its a Background Issue of great concern to investors, china has had the biggest expansion over the last eight years, it has gone from 6. 5 trillion to 24 trillion, a massive increase and that has resulted in big debts for the corporate sector, households, and it is a matter of growing concern. Apart from chinese Economic Data you have us reports on retail sales, Consumer Prices and industrial production. For asian investors, whats more important . China numbers . Us data . Both are equally important. China is especially important because its the single largest market for most asian economies. In terms of exports. Chinas import growth this year has been very good, if that persists, 14 or 15 year on year growth in chinese imports, that will help the rest of asia seat in continued strength so that is important. C. What is good about the us is that payrolls over the weekend were very strong. The us economy is in fine fettle at the moment and that helps the world. Does this mean we could see an Interest Rate hike from the fed, a third one, before the end of the year . Could this impact the monetary decisions of both south korea and malaysia . The fed will hike later this year further, maybe once or perhaps more, because the economy is infine perhaps more, because the economy is in fine health, despite the fact that disinflation has continued to occur, the Labour Market is in good shape and so the us will hike rates. In malaysia, inflation was much higher in the last few months, it has moderated in the last month, so theres no real need for malaysia to hike rates. If it had to it should have done it two months ago but it didnt, so theres no real need. Inflation is very tame in korea and theres no need to hike rates there either. In india, a campaign against the new goods and services tax on Feminine Hygiene Products is gathering steam. Critics say the government should have weighed the tax, especially since few women use these products in the first place because of Social Stigma waved. Should female sanitary products be taxed . It said topic hotly debated around the world and know the so called Tampon Tax Row has come to india. Now. Campaigners here are calling in the blood tax. Calling it. They say a new goods and services tax that just it. They say a new goods and services tax thatjust came into effect was an opportunity to make feminine products tax free in india and so more affordable. Only 1296 of women use Menstrual Hygiene products, the rest of the population use cloth, but sadly they dontjust use cloth, but sadly they dontjust use that, they use sand, husk, dried leaves, plastic. Access to hygienic feminine products is a problem and costis feminine products is a problem and cost is a big issue. As a Result Tens Of Thousands of girls drop out of school every year when they start their periods. Now, in a seemingly women friendly move the government has made these products, which a lot of indian women apply on their forehead, tax free, but they believe these are considered essential products for women, then so should Sanitary Pads. They are being taxed at 12 instead, a decision the government defends. Translation at 12 instead, a decision the government defends. Translatiosz we reduce the tax on Sanitary Pads it shouldnt be the Multinational Companies dont pass it on to customers and make profits, these Big Companies have huge Profit Margins and so to make Sanitary Pads more affordable this should be the step forward. The government says cheaper Sanitary Pads made by small cooperatives will be taxed. For campaigners, its not about who makes the products, but that the state treats them as a luxury rather than a necessity. Before we go, lets have a look at the asian Stock Markets and currently it is mixed, the nikkei 225 up by 114 points due to the wea ker 225 up by 114 points due to the weaker yen against the us dollar, benefiting the export sector. The all 0rdinaries down by 31 points due toa all 0rdinaries down by 31 points due to a fall in oil prices. Chinese Economic Data will dictate the mood of the markets this week as well. Much for investing your time with us. Much for investing your time with us. Im rico hizon, sport today is up us. Im rico hizon, sport today is up next. Thank you so much. The top stories this hour iraqs Prime Minister says mosul has been liberated from the Group Calling itself islamic state. Tens of thousands of people gather in istanbul after a Protest March against turkeys government. The newjustice secretary says hes determined to tackle failings in the Prison Service after it was revealed that more than 200kg of drugs and 13,000 Mobile Phones were found injails in england and wales last year. David liddington said the number of Prison Officers was being increased following cuts under the coalition government. Heres our Home Affairs Correspondent dominic casciani. Londons Pentonville Prison late last year. Orders from inmates for drugs and Mobile Phones being delivered by gangs on the outside, packages thrown or catapulted over walls and security netting, prisoners using makeshift hooks to recover them. It is big business. New figures from the Ministry Ofjustice show the industrial scale of what is going on. 225 kilograms of drugs seized, 13,000 Mobile Phones, 7,000 extra sim cards, large scale Prison Smuggling has become a fact of life. Ill tell you what, in some prisons, it is easier to get drugs and phones than it was for me to get funded to do education. How about that . People are stuck in a cell, 23 hours a day, they want escape. Look, People In Society Go to the pub for escape, youve got drug addicts in society, so to suggest it will not happen in prison is ridiculous. Prison inspectors say that drugs fuel violence inside and phones help arrange crimes back in the community. Labour says deep cuts are to blame. Ministers have pledged an extra 2,500 officers by the end of next year, but there will still be fewer staff than seven years ago. And these are the figures on violence and staffing that critics say ministers must confront. Assaults have reached a record high of more than 26,000 incidents. Up 10,000 since 2010. At the same time, front line Prison Officers have fallen, tojust over 18,000, that is down almost 6500. What im determined to do is to try to bring about improvements, build on what my predecessor, liz truss, did. Getting extra Prison Officers, in putting in place effective measures to detect more accurately the problem we have with drugs, the new challenge we have with drones and Mobile Phones in prison, so they are more secure places. But drones remain the biggest challenge. Walls around the prison wont stop airborne contra band, so police are turning to intelligence to stop the drones. Experts say there are plenty of them out there because there is big money to be made. Duncan will be here with all the news at 2am and if you want to get in touch with me and some of the tea m in touch with me and some of the team im on social media. Time now for all the sports news in sport today. Welcome to sport today live from the bbc sport centre. Heres whats ahead once a blue once more a blue. Rooney returns to everton. From three shots behind, a debut pga tour win. Xander schauffele at the greenbrier classic. And Valtteri Bottas wins the austrian grand prix. Sebastian vettel extends his lead in the drivers championship. Hello there. Wayne rooney says hes ecstatic to return to everton. Hes left Manchester United after 13 years, rejoining his boyhood club on a free transfer. With 253 goals, he is uniteds all time leading scorer. Now the club that gave him a Premier League debut hope hell be scoring again for them over the next two seasons. From goodison park, adam wild reports. Wayne rooney, back in blue, back to his boyhood club. One of the finest of his generation, back to where it all began, announcing himself as a teenager in spectacularfashion. But his love for his club has clearly never gone away. Im ecstatic, i cant wait to be back in. To be honest, ive kept it quiet for the last 13 years,