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Transcripts For BBCNEWS World Business Report 20170410

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Or so they say. The Foreign Ministers of the worlds seven biggest economies begin to arrrive in lucca, italy, and free trade is high on the agenda. The highway code in the sky. We look at singapores efforts to regulate the airspace for drones. Im aaron heslehurst. If you got eight minutes, stay where you are, give me eight minutes and ill give you a fascinating snapshot of the world of business and money but. We start in italy where the Foreign Ministers of the worlds biggest economies meeting in the historic city of luca. This year italy holds the presidency of the g7 group and rome has already made it clear that one of its priorities is fighting all forms of protectionism. But hang on, why does it matter to all of us . Well, its important because the g7 accounts for just over 46 of the worlds wealth. This meeting is important because its in preparation for next months leaders summit. Last month the host, italian Prime Minister paolo gentiloni, laid out his g7 plan by saying one of the questions theyll have to tackle is how they grow their economies amidst a political desire for protectionism. The latest imf forecasts show reasonable growth this year for the us, germany and the uk with others struggling. Other topics on the agenda include climate change, immigration and energy security, in fact g7 Energy Ministers are currently holding a seperate meeting in rome. Atha nasios vamvakidis, global head of gio fx strategy at bank America Merrill lynch. Athanasios, atha nasios, thanks for athanasios, thanks for coming on at this for all our. This will be a very interesting meeting because already Rex Tillerson is seen as hampering this yea rs already Rex Tillerson is seen as hampering this years gathering because he hasnt hired the people the Secretary Of State needs to get the Secretary Of State needs to get the draft documents in place, where the draft documents in place, where the us stands, the whole meeting smells like theres a lack of trust. Indeed, this is an important meeting although its in preparation for the summit of the leaders, to a large extent because there are many global challenges today and we dont really know where the us stands. We used to ta ke know where the us stands. We used to take the us for granted about their views on the world economy, geopolitics and their Leadership Role in the g7 and g20. Now we dont really know what the us wants to achieve using these groups and what are their views on the main challenges the world is facing today. Do you think the Foreign Ministers gathering before next months leaders summit, do you think they will go to the us and say what is your plan on energy and security etc. Will they try and sniff out what the us thinks . It is likely and the whole world will be watching, the whole world will be watching, the us used to be the number one country pushing for free trade. Now this is not the case any more. Middle east, are we going to have more or less intervention and what do we want to achieve . Will the us do we want to achieve . Will the us do it alone or use the g7 to achieve consensus . Do these meetings move the markets up or down . Actually not, it used to be important during the crisis, since then g7 and g20 meetings havent achieved much. This time it could actually matter, it could give us some insight on what is next in syria, which would have implications directly through oil prices and affecting risk sentiment. Obviously where were going in terms of International Trade is very important so markets actually will be watching this meeting much more than in the past. I want to wrap this up, athanasios, but i do wonder if the g7 holds any weight any more, it is meant to be the seven biggest economies in the world but where is india and china . They are meant to be adults in the room but they are not always acting as adults and some emerging markets, the kids, are now grown ups. Emerging markets, the kids, are now grownups. Athanasios, thanks for joining us. I thought heslehurst was tough enough im just playing, he isa tough enough im just playing, he is a regular with us which makes you wonder why i cant i cant get his name right the operator of hong kongs Gold Exchange is in talks with myanmar to help the government there set up a similar exchange in that country. Sharanjit leyl, who knows a thing or two about precious metals, is in our singapore bureau. What is going on . Thats right, theyre helping what is going on . Thats right, they Re Helping Myanmar Set what is going on . Thats right, theyRe Helping Myanmar Set up this exchange mainly because theyre huge growth prospects, it is a bit of a frontier town, it has just opened up in recent years, and also its a prime location, along the route of chinas one belt, one road, which makes it an attractive spot to catch the Commodities Trade in the region. That is all the view of the president of the chinese gold and Silver Exchange society, a century old hong kong boras, who are the folks advising the myanmar on this venture. We know this was initiated by the chinese in 2013 to establish trade and infrastructure projects, including roads and Railway Links to connect the 60 countries between china and other asian and european countries, all of this to promote trade and the economy and myanmar is among these countries. Chinese investments, especially in energy and infrastructure, are growing and the economy is likely to expand a whopping 8. 1 in 2016, thats according to a forecast by the imf. It makes the country full of growth prospects. In fact, it makes the country full of growth prospects. Infact, its it makes the country full of growth prospects. In fact, its the worlds Fastest Growing economy after iraq. Thanks very much for that, we will talk to you very soon. Sharanjit leyl from singapore. Talking of singapore, lets stay there. The skys the limit for the number of drones expected to hit singapores airspace in the next ten years. But the heavy traffic will present some real dangers. To prevent crashes, experts at Nanyang Technological University and the Civil Aviation authority of singapore are working on a system of air lanes to keep drones on a safe path. There is a need for a system that can govern and regulate the safe and efficient operations of groans. But we also know that the Government Agencies are looking at more usage of groans, operations which are dull, dirty and dangerous. These are the types of work which would be best done by a robot or by a drone. If you want to inspect a chimney for instance, you wouldnt want to send someone up instance, you wouldnt want to send someone up and down the chimney, you would probably just send someone up and down the chimney, you would probablyjust send a drone to do an inspection. The reason now you dont see many drones flying in a big area, and also especially in urban areas, is because safety is something that you must take care of. For singapore, many people may not realise that the urban airspace is actually finite and limited. There are other airspace users, from the military and air force and so on. Theres a need to structure the airspace and divide it and the Key Technology traffic management. There is a way to fence a virtual wall around an there is a way to fence a virtual wallaround an area, there is a way to fence a virtual wall around an area, because we dont want to allow any drones to enter in that area. This would require the technology that supports the surveillance of where they are, it knows its position is well enough so it knows its position is well enough so that if a particular area is g of fenced then this information can be uploaded. Geofenced. Jazzy music follow me on twitter. I will be back with chris to look at the newspapers from all around the world. Stay tuned for that, see you very shortly. Bye bye. Back with aaron with the newspapers very shortly. Some vocational subjects in englands schools are being scrapped because of budget pressures, according to teaching unions. The nut and atl unions claim teachers of subjects outside of maths, english, science and the humanities, are most at risk. Judith burns reports. One way of measuring students performance and 16 is the english baccalaureate. To pass teenagers need at least a gcse c grade in english, maths, the sciences, a language and either history or geography. Its a key measure of how a school is doing, but according to a school is doing, but according to a poll carried out by two of englands biggest teaching unions, subjects not included in the baccalaureate are the ones hit ha rd est by baccalaureate are the ones hit hardest by budget cuts. Of 1200 hardest by budget cuts. Of1200 school staff who responded to the poll, half were from secondary schools, three quarters of those said there had been cut to Teaching Posts in their schools in the last year with non baccalaureate schools bearing the brunt. Unions say the government must find more money fast. I think the children, the pupils and the children in school are losing out because theyre losing that brought depth of their educational experience and educational experience and educational cuts dont care, what they dont get as children they will never make up, so if they dont get the chance to go on a trip, if they dont get the chance to study a subject, they wont get that opportunity again. The government says School Funding is at record levels, but critics say its not keeping up with costs and warns of an £3 billion funding gap by the end of the decade. Judith burns, bbc news. Coming up at 6am on breakfast, dan walker and Louise Minchin will have all the days news, business and sport, including live coverage from westminster, where the funeral for one of the policeman killed in last months Terror Attack will be held. Keith palmer was stabbed to death as he stuttgart outside the palace of westminster. Im chris rogers. The top stories this hour a three month State Of Emergency throughout egypt after bomb attacks killed more than a0 people at two coptic Christian Churches. The first funerals for some of the victims began on sunday. A meeting of Foreign Ministers from the g7 group of nations is beginning in italy on monday. The talks are expected to focus on how to increase pressure on russia to distance itself from the syrian president bashar al assad. Australian Scientists Say two thirds of the Great Barrier reef has now been devastated by severe Coral Bleaching caused by rising water temperatures. Researchers say Aerial Surveys also show an accelerated rate of damage. The spanish golfer Sergio Garcia has won the masters, his first success in one of the sports big four tournaments. Garcia won a play off against britainsjustin rose at augusta after they both finished nine under par. Now it is time for our news review. Whats Making Headlines Around The World . First we have the arab news with a story featured on many of todays front pages, the deadly attacks on two coptic Christian Churches in egypt. The paper says the attacks have unified arab and western nations to increase their efforts in tackling extremist violence. The us has sent warships into waters towards the korean peninsula. The south morning china post quotes analysts as warning of a growing risk of accidental conflict between the us and north korea. The New York Times looks ahead to the us Secretary Of States first diplomatic trip to russia. The visit comes after Rex Tillerson accused russia of being incompetent for allowing syria to hold on to chemical weapons. Its the first day of official campaigning in the french president ial election le figaro says a survey puts leftist candidate Jean Luc Melenchon ahead of Francois Fillon and up to third place. The financial section of the guardian reports on Beermaker Brewdog getting an injection of cash from a us private equity group, a decade after the beerfirm was founded in a family garage. I love Success Stories like that

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