economy too, want it, as all the start to pay more? it certainly has an im act start to pay more? it certainly has an impact on start to pay more? it certainly has an impact on oil start to pay more? it certainly has an impact on oil demand, - start to pay more? it certainly has an impact on oil demand, but - start to pay more? it certainly has an impact on oil demand, but it i start to pay more? it certainly has an impact on oil demand, but it is| start to pay more? it certainly has. an impact on oil demand, but it is a relatively small impact on oil demand, because most oil consumption, we don t tend to have a choice. we can t switch to another product, are not easily, therefore our decision is how far do we fly? there is a concern from opec plus about oil demand, about whether there might be our recession or a global downturn, and therefore they would like to see the price a bit higher. would like to see the price a bit hither. ,., ., would like to see the price a bit hi her, ,.,
try to keep inflation in check as well as dealing with weakening global economic momentum. our asia business reporter katie silver reports. china s manufacturing sector is struggling to get back on track. data out today shows that slowing global demand is hitting demand for goods from china and that is hitting its ability to recover from three years of strict zero covid policy. this is bad news for a country that relies on its manufacturing sector. it accounts for about a third of the economy. the s&p pmi fell to exactly 50 in march. anything above 50 indicates expansion. below is contraction. this was down from 51.6 the month prior and far lower than what many analysts had expected. experts say this means that china s recovery needs to come not from the manufacturing sector, but from the services sector, which was hit hard during covid. going forward, china needs people in china to spend to counter that drop in demand from other countries. boosting domestic consumption is a big goal o
was this rulemaking on the resolution issue one of them alluded to today as some they plan to go forward with, we will see some of the things we were already going to see, probably new questions asked about liquidity rules, probably new questions asked about the interest rate risk rules at the largest banks follow and whether those are online with others. ., . ., ., others. that committee hearing continues today. shares of chinese e commerce giant alibaba opened 15% higher in hong kong this morning. why? because jack ma s alibaba empire is to be broken up after beijing s crackdown on china s technology sector. the shake up comes a day after mr ma, the 58 year old founder of alibaba, returned to mainland china after several months without an official appearance. his long absence came after he criticised china s regulators in 2020. our asia business correspondent
heading down under now, where a measure of australian s cosumer prices rose less than expected last month. its consumer price index came in at 6.8 % in the year to february. analysts had been expected a reading of around 7%. the country has been battling sky high inflation for over a year. china softens its tone towards the private sector, and beijing says it remains open for business despite continued tensions with the us. some of the world s top executives like apple s boss tim cook were in beijing this week for the china development the forum for asia an event aimed at attracting investments also kicked off on tuesday. the number of homes available to rent in the uk has fallen by a third over the past 18 months. the sharp drop in the number of listings has helped drive up rents for new tenants by ii%. the number of rental properties uk hasn t actually fallen. in fact, it has barely moved since 2016. the number of electric cars on our roads is taking off. in a few years, millio
have been asking for for quite some time now. while the deal was being announced, a group of protestors set fire to american flags outside the military headquarters. some left wing parties in the philippines have argued against deepening ties with the us military. the history of violence and abuse by us troops in the philippines is still a sensitive subject. a spokesperson from of one of the left wing parties was at the protest. filipinos do not need additional american troops and facilities. it will only serve to increase the tensions in the south china sea and the taiwan strait. and deploying additionalfacilities in the taiwan strait. and deploying additional facilities in troops the taiwan strait. and deploying additionalfacilities in troops in the philippines will direct the country into the conflict between china and the united states. china has criticised the deal and accused the us of escalating tensions in the region. here s our asia correspondent rupert wingfield hayes again.