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Transcripts For BBCNEWS Asia Business Report 20170526

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Paul nuttall said ukip would beef up security by increasing numbers of Police Officers and border guards. Now on bbc news, all the latest Business News live from singapore. The g7 meets in italy. How will Donald Trumps America First policies go down with the rest of the grouping . And a profitable business turning old clothes into new products is under threat and we find out why. Welcome to Asia Business report. I am Sharanjit Leyl business report. I am Sharanjit Leyl. Leaders from the group of seven countries are meeting in sicily later today and donald trump will be attending for the first time. Along with newly elected french president macron and uk Prime Minister theresa may. Terrorism might overshadow other concerns. Trade should remain a key topic on the agenda. Resident trump to find his Trade Policy Last year very much in opposition, against the tpp, renegotiating nafta. That is a core element of his political persona. He also realises there has to be a positive agenda. It will be a few months before the message is articulated but the message from collea g u es articulated but the message from colleagues of the g7 will be well received, that it is not sufficient to say what you are against. We know that these proceedings may well be overshadowed by these terror concerns. It comes at the tail end of his meeting with nato is well, he wa nts of his meeting with nato is well, he wants Defence Spending on the rise but what else is likely to be on the agenda because climate is one thing. This is his First International engagement with the United States most important allies in trading partners. I think tone and rapport is an important goal. Rear furring reaffirming commitment to the nato alliance. Establishing personal rapport with the other leaders. You have to have a working relationship. In terms of a specific issue, Climate Change is going to be front and centre because that is the issue re what President Trump is postulated. He said the everyone he intends to withdraw from the paris accord. Away from the g7, mr trump has threatened to withdraw from the north American Free trade agreement if his attempt to renegotiate the terms with canada and mexico doesnt go well. Canada has been looking to asia to drum up business. Earlier, i spoke to the canadian Trade Minister who has been visiting the region doing that. He told me why nafta is important. We are the largest kind to the United States. We exchange about 2 billion of trade every day. 400,000 people crossing every day. The Largest Energy supplier to the us. Actually, my own province is providing much of the electricity to new york. 47 states have gathered as their primary, secondary or treasury Market Service agreement has provided millions ofjobs on both sides. 9 Millionjobs Depends On Canada but the relationship is unique because we do not sell to each other, we make things together. If you look at a car, reaching the consumer, this agreement has been good. It provides millions of middle classjobs. This has been done two decades ago . A Rented Ii Times already. We are proactive and confident that as my counterpart said recently, this has to be in the interests of all three parties so we are looking at these negotiations from Prime Ministerjustin trudeau which is proactive, making sense to canada. Dont you think canada will have a hard negotiation . It is a Lwa Ys Have A Hard Negotiation . It is always good always good when you are the first client of the entity you are going to negotiate with. We have been proactive in engaging with the us to remind them of the breadth and depth of the relationship. The Prime Minister has established a relationship with President Trump. We saw it in a phone call and we have been firm in telling them, we are going to stand firm for Canadian Workers and families and i think thatis workers and families and i think that is a message that is well understood in washington. Let us ta ke understood in washington. Let us take a look at oil prices. They have fallen dramatically. This is where they are right now. Brent crude is flat. We see light crude well below that psychological mark. This all comes that psychological mark. This all co m es after that psychological mark. This all comes after Oil Producing nations outside of opec agreed to extend production cuts. Energy ministers have been meeting in vienna to discuss extending the cut which is due to expire next month. Higher fuel costs have hit quarterly profits for airasia, even though more passengers are travelling with the carrier. The airline has been hurt by the strong us dollar and higher staffing costs. Turning to india which has seen a lucrative Textiles Trade with africa. Each day, Second Hand Clothing arrives from the us and europe and the clothes are from the us and europe and the clothes a re recycled from the us and europe and the clothes are recycled into fabric for bla nkets clothes are recycled into fabric for blankets made exclusively for african consumers. But this booming business is now struggling. This is the worlds cost of capital. From high street brands to luxury labels, most clothes donated to charity and appear. Every day, hundreds of tons of clothing from across the uk and the us are right here. Torn and used clothing which would otherwise have ended up in landfill. So the factories here play a quiet a vital link in the global textile recycling business. Shredded, buttons and zippers ripped off, labels discarded. Over 140,000 tons of clothing are processed here and every three tons of fabric produces around 1. 5tons every three tons of fabric produces around 1. 5 tons of yarn which is woven back into whats called shoddy fabric. Africa is the biggest consumerfor fabric. Africa is the biggest consumer for whats fabric. Africa is the biggest consumerfor whats made fabric. Africa is the biggest consumer for whats made here fabric. Africa is the biggest consumerfor whats made here and the industry here is worried that what was once a lucrative business is now getting more expensive. The cost of importing this Textile Waste is almost zero but once it reaches india, the custom duties, transportation, storage and electricity and labour costs add up. Consumers in africa want cheap bla nkets consumers in africa want cheap blankets and we are struggling to keep prices low. We run one machine a day. While the industry here is well suited to absorb the growing supply of fast fashion from the west, the recycled wool and cotton yarn is facing increased competition from cheaper man made fibres like polyester. There were more than 400 units. Now it is around 100 units. It has taken a very bad hit because the investors is not doing well and every day, a unit is closing or reducing production. We used to work 24 hours a day. Now it is not much ofa 24 hours a day. Now it is not much of a shift. On one hand, the demand from africa has dipped and on the other, there is a glut of used clothing. Even though they are having a real environmental impact, the industry here is struggling to make money on the recycling business. It is a race that exhibits some of mankinds most expensive boats. The americas cup starts later today with Racing Yachts battling out one of the most prestigious titles in the world. The yachts on display are all about speed but what about the ones that are about luxury . If you are a member of the superrich, the global elite, the chances are you will have a superyacht. That comes with its own headaches like ready but the helicopter will private submarine . That is what this boat is all about. Its really rather special. This is the game changer, a new vessel with the game changer, a new vessel with the idea that it is a Support Vessel for superyacht is so when you are cruising around the caribbean and you do not want your Toys Cluttering up you do not want your Toys Cluttering up the deck, you have somewhere to put them. There is plenty of room on deck. It is a 68 metre vessel. In this market, size does matter. Lets not forget, over here, there is a special spot for your own private submarine. And lets not forget, you need some to park your helicopter. Underneath it, there is a hanger to keep your helicopter safe and dry from wind and waves. This is a limited market, of course. There are only so many people in the world with superyacht is that a big enough to need Something Like this but it is there if they wanted. How much does it cost . If you had to ask, you cant it. The markets have opened marginally lower and that is really being hit by that huge drop in oil prices. Thats it for this addition. I Sharanjit Leyl, thank you for watching. There was a partial resumption of campaigning in the General Election on thursday as the leader of Ukip Paul Nuttall launched the pa rtys manifesto. Paul nuttall launched the pa rtys manifesto. But it was overshadowed by the partys accusation that theresa may bore some responsibility for the manchester bombing. The home secretary, amber rudd, said it was not the time to make political points. Our Political Editor Laura Kuenssberg reports. Manchester on everyones minds. But ukips manifesto was hardly a quiet affair. The party accusing theresa may of playing a part in creating the circumstances that led to mondays attack. The Prime Minister has during her time in high office of the site presided over cuts to oui of the site presided over cuts to our Police Service and reductions in oui our Police Service and reductions in our armed forces to. It is also a dereliction of duty to allowjihadis to return to this country. Is promising thousands of extra police and border guards. His supporters jeered reporters questioning the pa rtys jeered reporters questioning the partys claims. It sounds like you are almost blaming the Prime Minister that this attack, the circumstances that led to it. Shouting. As for blaming her personally, im not doing that, absolutely not, but im saying the politicians in this country are too cowardly to face up to what the issue really is. But the Deputy Chairdid say issue really is. But the deputy chair did say theresa may must be some responsibility. All politicians who voted for a reduction on spending in the Security Service and the police must look at themselves in the mirror. Ukip has been struggling to keep place since the referendum last year but in clacton, the only electorate to choose a ukip mp, they did find some sympathy. They need to close the borders at the minute. They cant check on everybody. They are cutting down on the police force, the army. But for other politicians, it is just too soon. I think it is entirely the wrong approach. We are trying to support the police and the Emergency Services and the victims, making sure they get the support they need. This is not time for political points. You are feeding the fears that are causing problems in this country today. There is a connection to manchester. Ukip wants to be seen as the party that is ready to say the unsayable, out on the stump today after the manchester attack, but challenging extremism has been noticeably absent from the election. Not any more. But voters have been moving away from ukip. Immigration is down, due to a few are eu citizens moving here and packing their bags. Our Political Editor Laura Kuenssberg reporting there. Hello, this is sport today, live from the bbc sport centre. Coming up on this programme. Preparing for the 2018 world cup but at what cost, as concerns over the exploitation of north korean workers plague russian organisers. We head to paris and trace the background of chelsea and france star ngolo kante. And tom dumoulin tightens his grip on the overall lead after stage 18 of the giro ditalia. Hello and welcome to the programme where we start with news about the 2018 world cup in russia. When fans gather to watch the first semifinal at next years tournament in the newly built stadium in st petersburg, to what extent did those who helped build it suffer . Fifa have found evidence north koreans who worked on the site were subjected to appalling conditions. Our sports news correspondent Richard Conway takes up the story. The heads of Four Nordic Football Associations wrote to the fifa president because they had been made aware of allegations,

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