Dinner in london. The president s club says its to close following the allegations. Now on bbc news all the latest Business News live from singapore. Celebrities and chief executives are looking for ways to solve the plastic problem in the World Economic forum. And the philippines retains its titles as one of asias Fastest Growing economies, as the government spends billions on infrastructure. Good morning asia, hello world. It is thursday, glad you could join us for another exciting edition of Asia Business report. We kick off the programme with davos and images showing the threat of plastic to wildlife and the food chain has touched a public nerve and made it one of the hottest topics at the World Economic forum. Coca cola is responsible for one quarter of all plastic bottles made globally and its ceo has announced plans to recycle 100 of its plastic bottle production by 2030. Our Business Editor was there and sent this report. Just over those mountains into france, alpine water starts its journey into this bottle. Like billions of others, from many companies, those bottles and theirjourney here, clogging rivers and beaches, threatening wildlife and the food chain. But up on the swiss side, in classic davos style, campaigners and celebrities are setting out their stall on how bottles and other waste products like clothing can be recycled, rather than passed away. People have begun to understand what happens to plastic packaging, and unless we change the way we make it, design its coming use it, feed it back into the system or even change the material, then willjust get worse. Where does fashion fit into this . Fashion is the second most harmful industry on the planet of the environment and we now need to be encouraged to be mindful of that and pay attention, and to consume in a more responsible way. So look at that, pristine, not a plastic bottle inside. In sight. For many of the people that is the perennial problem. One of the criticisms of davos is the global elite who meet in this rarefied air are Thousands Miles away from the problems. Can they make a difference . Can they really get results . You need industry muscle. Coca cola produced 127 billion plastic bottles last year, one of 11 companies, including evian, to make committments. We made a clear commitment that by 2030 we will recover every bottle we put into the marketplace. The better thing produce fewer plastic bottles . If we could not see a solution to recover them and reuse them, if we could not generate the circular economy then we would have the question shall ago the cans and more glass, but because we think we can get there and eliminate single use, within the utility of plastic remains. That reluctance to the reducing production is a problem for greenpeace, who say it is not go far enough fast enough. These are all positive first steps to tackle plastic pollution, but with a truckload of plastic entering our oceans every minute what we need is bold and urgent now. We need companies to commit the reduction targets, and to look into investing in alternative Delivery Systems that help promote the reuse. We cannot recycle our way out of this crisis. Applause. 1 million was awarded last night to develop the best new idea to keep plastic out of the ocean. The ultimate prize is many billions and many years away. Simonjack, bbc news, davos. Market moving comments are now coming out from the davos summit. The us dollar has hit a three year low after the us treasury secretary said he would welcome a weaker currency and that is having a knock on effect. Lets cross over to my colleague. Why these statements . What he actually said is that he welcomes a week dollar for the trade but longer term, the strong dollar is good news for the economy. But because of what he said, some traders and investors interpret it asa traders and investors interpret it as a possible departure from the us traditional strong dollar policy and that meant that the dollar fell rather sharply from hitting the lowest level in about three years major currencies. Against. It has recovered somewhat at the moment, trading at around 109 yen. Japan opened a short while ago, falling sharply. Exporters being affected because a strong yen makes their product less competitive abroad. Thank you so much for that update. Well, in other Business News, south Korean CompanyLg Electronics says it will raise the prices of most of its washing machines sold in the united state. This move comes two days after the Trump Administration announced plans to slap tariffs on imported washing machines which are mostly made in south korea and china. In order to protect their domestic producers. Lg did not disclose how big the price hikes would be. The philippine economy is still one of asias best performers, darter still one of asias best performers, da rter revealed still one of asias best performers, darter revealed shows it expanded by 6 and last year, marking 70 six quarters of uninterrupted growth. This is attributed to the president s recent tax reforms and multi billion dollar Infrastructure Spending plans. This can mean higher disposable income for many but not everybody stands to benefit. Help me build a better tomorrow. President due to take was campaigned on the promise that during Economic Development poverty would be tackled in the philippines. That appeal to the 71 year old supporter. She makes around 4 per day sifting through rubbish for plastic bottles and is one of 10 million filipinos whose income falls beyond the poverty line. Translation income falls beyond the poverty line. Translationzlj income falls beyond the poverty line. Translation i hope he will help us poor. He is our last hope. Other president s did not fulfil anything, i hope youll do like he fulfils his promises, that is my prayer. The good it is it is people like her that the president says he is tried to help under the recent tax reforms. Starting in january this year, anybody earning under 5,000 will be exempt from income tax and businesses with total annual sales up businesses with total annual sales up to 60,000 will no longer have to pay value added tax. To balance the books, the government is increasing so called sin taxes, for products harmful to people s help, health and environment. Cigarettes are up and environment. Cigarettes are up and sugary drinks. I think that these are unhealthy drinks including for the poor. If you change behaviour it helps that efforts our taxes. The government says that those certifying its tax system can generate more revenue to pump into massive Infrastructure Projects and chief among them are plans for a metro chief among them are plans for a m etro syste m chief among them are plans for a metro system in the capital, known for its appalling traffic. We lose anywhere between 50 million a day in traffic. This create a lot of economic losses and so if we want to reach out gdp growth for the next few years and defeat poverty, infrastructure will play a key role. High hopes for the structure spendings but for many of informal workers who have never played taxes in the first place, the rising duties could lead to an uncomfortable squeeze on budget. Paid. And the philippine president will be in india along with other leaders, they will be attending a summit focus to promote Maritime Security in the region dominated by china. For more, it is cross over to oui china. For more, it is cross over to our business reporter. Lets. Closer relations between india and south east asia. That is right. If you look at india over the last of the five years, they have been trying to maintain a close relationship with Asian Countries and the Prime Minister went down there for the summit last year. The reason why they have assembled together today is for indias republic a function which will take based on the 26th of january. On this day india has a huge parade in new delhi and all of these leaders will be chief guest at this function. Later today, the Prime Minister will be holding a summit in which all if asian leaders will be participating and discussing Maritime Security. A lot of Asian Countries want india to play an active role, given what is happening on the South China Sea where chinas dominance in this region, a lot feeling that india could up their game and that could help maintain peace. Whether they will sign any concrete deals or any kind of statement is unknown but they will be discussing that during the summit. Thank you for that update. Thank you so much for investing your time. Sport today is coming up next. The top stories this hour americas disgraced Olympic Gymnastics Team doctor, larry nassar has been jailed for 175 years for molesting young gymnasts. A veteran us diplomat has quit his role advising myanmar on the rohingya crisis, accusing Aung San Suu Kyi of lacking moral leadership. A jurys been told that a man accused of carrying out the Finsbury Park terror attack last june kept smiling and even blew a kiss at the gathering crowd after ploughing a van into muslim worshippers. Darren osborne from cardiff denies murder and attempted murder after the attack in north london which left one man dead. An imam who was one of the first on the scene told the court how he stopped the crowd attacking the driver of the van. Daniel sandford reports. Witness after witness described how the van revved its engines just before smashing into the group of muslim men and women. Some survivors described how they feared for their lives, thinking someone would get out of the van with a gun or a knife. The jury heard this 999 call asking for ambulances. Within the hour, 51 year old makram ali was declared dead at the scene. Hamdi al faiq suffered life changing injuries, including a broken pelvis, broken ribs and a broken foot. He told the court how friends pulled him out from under the van. People grabbed the man they believed to be the van driver to detain him. The court heard that some were punching and kicking him. The imam of the local mosque stopped people attacking the suspected driver, telling the jury he should answer for his crimes in a court like this, not on the street. In a statement to the court, the man who made the 999 call said that the man whod been detained said to the crowd, i have done myjob, you can kill me now. He was constantly smiling, it was recalled. The man on trial, Darren Osborne, denies charges of murder and attempted murder. The court was played video from a Police OfficersBody Worn Camera in which Darren Osborne rants about muslims and says have some of that, have some of your own. At least i had a proper go. Daniel sandford, bbc news, Woolwich Crown court. More on that story on our website. Mike is here in 15 minutes time to catch up with the rest of the news. Time now for all the sports news in sport today. Hello, this is sport today, live from the bbc sport centre. Coming up on this programme real madrid shown no neighbourly love as leganes knock them out of the copa del rey. Arsenal are through to the English League cup final after victory over chelsea. And Angelique Kerber is among the winners on day ten of the Australian Open and remains on course to regain the title she won two years ago. Hello and welcome to the programme, where we start with the footballing news that real madrid have been knocked out of the copa del rey at the quarterfinal stage by near neighbours leganes on away goals. The european champions won the opening leg 1 0 but lost out 2 1 in this encounter as their home stadium of the bernabeu, which will add to the pressure on head coach zinedine zidane. The visitors took the lead and levelled the aggregate scores in the 31st minute whenjavier eraso put the ball in the net. Shortly after half time, Karim Benzema seemed to have put his side back in the driving seat butjust eight minutes later, brazilian striker gabriel pires hit the winner to send his side through to the semi finals on the away goals rule, also handing them a first ever win over their big spending city rivals. Valencia are also through to the semi finals, but they needed penalties to beat alaves, who won wednesdays