Transcripts For BBCNEWS World Business Report 20240709

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anti—government protests, according to media reports citing health officials. if confirmed, it would mark a sharp rise from the previous figure of 44 deaths. almost 6,000 people have been arrested, including "a substantial number of foreign nationals", kazakhstan�*s presidential office said on sunday. the demonstrations, triggered by a rise in fuel prices, turned into huge riots as they spread across the country. kazakhstan has some of the largest oil reserves in the world. it produces 1.6 million barrels of oil a day and has attracted billions of dollars in foreign investment. however, the wealth has not trickled down to the population, who have an average income of less than $3,400 a year. joining me now is philip worman, managing director, gpw group, a political risk consulting firm. welcome to you, thanks very much for being with us. tell us more about what sparked this unrest, because it is notjust about fuel prices, is at? ma. about fuel prices, is at? no, the raw material— about fuel prices, is at? no, the raw material for- about fuel prices, is at? no, the raw material for the - the raw material for the unrest, was essentially years of as you say, a failure of this colossal wealth that kazakhstan has built up to trickle down to the most poorly paid workers. couple that with recent economic declines and a stud and doubling of basic foodstuffs and fuel prices, and you've got a very volatile environment. what bug that offer is open to debate topic is a possibility that opposition activists and groups actually encouraged the violence, but the basic, the cocktail of social decline and economic problems was there at the start. ~ ., ,., ., the start. what sort of economic _ the start. what sort of economic impact - the start. what sort of economic impact is - the start. what sort of. economic impact is that the start. what sort of - economic impact is that having at the moment and potentially going forward? i at the moment and potentially going forward?— going forward? i guess there are three _ going forward? i guess there are three points _ going forward? i guess there are three points to _ going forward? i guess there are three points to consider. | are three points to consider. in terms of kazakh�*s output in terms of raw materials, it is one of the will�*s biggest uranium producers, we have really seen that feeding through to the uranium price which hasjumped up around 8%, last week kazakhstan supplies about half of the world's uranium. in terms of oil production, it is not a huge producer, it's about a 10th of russia's production but already on the back of this violence and unrest with thin oil prices take up by about 5%. coupled with that we've seen companies that we speak to any mac as extant as seeing workers unable to travel to some of the oil production sites and already have seen some of the biggest producers there, chevron, talking about supply disruption, so i think that the feedthrough affect of the unrest are still happening. there is a third more subtle point which is i think the unrest and the violence is going to lead to a sort of ripple effect in the former soviet region of risk for ambassadors, so it's going to create a much higher level of risk aversion to people who are looking to invest in russia or kazakhstan or ukraine. find looking to invest in russia or kazakhstan or ukraine. and what about bitcoin? _ kazakhstan or ukraine. and what about bitcoin? it _ kazakhstan or ukraine. and what about bitcoin? it is _ kazakhstan or ukraine. and what about bitcoin? it is difficult - about bitcoin? it is difficult to know — about bitcoin? it is difficult to know. it _ about bitcoin? it is difficult to know. it is— about bitcoin? it is difficult to know. it is a _ about bitcoin? it is difficult to know. it is a bit - about bitcoin? it is difficult to know. it is a bit of- about bitcoin? it is difficult to know. it is a bit of a - to know. it is a bit of a sideshow but kazakhstan was a big destination for bitcoin mining. clearly that is going to scare a lot of people off but this is clearly already a very highly volatile and speculative asset anyway so i think that's a bit of a sideshow compared to uranium or oil prices. sideshow compared to uranium or oil rices. , ., ., , ., oil prices. great to get your anal sis oil prices. great to get your analysis as _ oil prices. great to get your analysis as ever. _ oil prices. great to get your analysis as ever. thanks . oil prices. great to get youri analysis as ever. thanks for being with us. from today italy is tightening covid measures for the so—called super green pass. people will no longer be able to dine outside a restaurant, go to a hotel or the gym or use public transport unless they can prove immunisation or recovery from covid. the pass shows proof of vaccination, or recovery from the virus within the last six months. it is needed to enter theatres, cinemas, music venues, sports events, restaurants and bars. joining me now is agnese 0rtolani, senioranalyst for europe, at eiu. thanks very much for being with us. how will these latest measures had business and the economy?— measures had business and the econom ? ., , economy? good morning. given that the new — economy? good morning. given that the new restrictions - economy? good morning. given that the new restrictions limit i that the new restrictions limit only the movement for the unvaccinated, we think that the impact on economic activity were likely to be milder compared to the previous nationwide inaudible. however the current wave of infection is likely to hit both the services sectors as people will still limit travel and recreational activities but also the industrial sector that we are seeing with factories, a growing number of workers that are currently absent because of illness or quarantine and our focus is that the italian economy will expand by over 4%, supported by eu funded invest in it as well and it will return to its pre—covid levels by midyear. however because of the emergence of the 0micron and the epidemiological situation has increased uncertainty around these forecasts. and what are vaccination levels looking like now? ~ vaccination levels looking like now? . , vaccination levels looking like now? ._ vaccination levels looking like now? well actually, italy has one of the — now? well actually, italy has one of the highest _ now? well actually, italy has| one of the highest vaccination rates in europe, with around 76% of its total population fully vaccinated against covid, and this helps to break the link between the high number of cases and death and hospitalisation which remained well below the previous peaks. and what about mandatory vaccinations for over 50s? to businesses generally support that measure? i businesses generally support that measure?— businesses generally support that measure? i have sent some surve s that measure? i have sent some surveys that _ that measure? i have sent some surveys that have _ that measure? i have sent some surveys that have been - surveys that have been conducted recently by epps off and actually we see that over 70% of the population and italy actually supports mandatory vaccines in the workplace and also for the over 50s, and actually the government, i think, is trying to do what it kind of meant to do last year when they first introduced the green path which is they are trying to boost the vaccination rate essentially by making these mandatory for the over 50s and work laces.— these mandatory for the over 50s and work laces. thank you very much _ 50s and work laces. thank you very much for— 50s and work laces. thank you very much forjoining - 50s and work laces. thank you very much forjoining us. - let's get some of the day's other news. china's debt laden property developer evergrande is expected to wrap up meetings with bondholders today. the series of meetings started on 7th january, with evergrande hoping for a 6—month extension on bond interest payment which comes up to $157 million. american and russian officials will hold talks in geneva today at the start of a crucial week of diplomacy that could shape the future of ukraine and the security of europe. western allies want to deter russia from invading ukraine, but moscow is looking for concessions from nato, with which it will hold separate talks later this week. sri lanka's president rajapaksa is asking china to help restructure debt repayments. the request was made during a meeting with china's foreign minister in colombo on sunday. nick marsh is folowing the story from our asia business hub. bring us an update on this? sri lanka's bring us an update on this? s lanka's economy is in real trouble right now. the country's foreign exchange reserves have whittled down to much nothing, it is only cash left and therefore are another month's left of imports and if you listen to some analyst, the country could be heading towards bank the in about a year's time if nothing is done so that is where china comes in, the country's foreign minister is an columbo right now, he's been checking up on some of the many, many chinese backed infrastructure projects, is a big port city an columbo right now, of course china is one of the countries that sri lanka owes money to. they are money to many countries but about $5 billion is owed towards china. the president of sri lanka has basically said we cannot repay this debt, we have to come to some kind of agreement, we have to restructure at. we have had no word from beijing on that at the moment but it does raise these familiar questions of chinese investment in developing countries at. we all know about the belton —— belt and road, but when a economy crashes and that it can't be repaid it causes all kinds of problems. there's a big controversy in the south of sri lanka right now about another big port complex. sri can't keep up with its debt repayments so the chinese simply took over the ports on a 99 year lease on that is where the blame game begins because people are saying china is exploiting these poorer nations, tricking them into these so—called debt traps but then others say china's investment is no different from other western countries as well. eitherway, other western countries as well. either way, what happens is that these kinds of things, these please for restructuring are inevitable and countries find themselves in this kind of awkward situations.— find themselves in this kind of awkward situations. thank you for the update. _ stay with us on bbc news, still to come: a window into the future. we show you the latest and craziest in tech from this year's ces. day one of operation desert storm to force the iraqis out of kuwait has seen the most intense air attacks since the second world war. tobacco is america's oldest industry, and it's one of its biggest, but the industry is nervous of this report. this may tend to make people want to stop smoking cigarettes. there is not a street that is unaffected. l huge parts of kobe were simplyl demolished as buildings crashed into one another. this woman said she'd been given no help and no advice| by the authorities. she stood outside the ruins of her business. j tens of thousands of black children in south africa have taken advantage of laws, passed by the country's new multiracial government, and enrolled at formerly white schools. tonight sees the 9,610th performance of her long—running play the mousetrap. when they heard of her death today, the management considered whether to cancel tonight's performance, but agatha christie would have been the last person to want such a thing. this is bbc world news, the latest headlines: novak djokovic's court case against his deportation from australia is underway, after the world's top mens tennis player had his visa cancelled by the authorities there. at least 19 people, including nine children, die in a fire at an apartment block in new york city. leaders of bristish comapanies are more than usually optimistic about the coming year. that's according to three survays published today. one of the surveys, where deloitte asked financial officers of 85 large uk businesses showed they were keener to invest in 2022 than in any other year since 2009. so what's behind the optimism? joining me now is sunaina sinha haldea, global head, private capital advisory, raymond james. welcome to you, great to see you. so, what is behind the them do you think?- them do you think? there's several reasons _ them do you think? there's several reasons for - them do you think? there's i several reasons for optimism. the first is that corporate balance sheets have never been stronger given how good the financial markets have been, the government support over the last couple of years and of course the very quick rollout ijy course the very quick rollout by the uk of the vaccination programme, both businesses a lot of cash on hand to invest. the tail went to all of that of course is that we have been in recovery mode and consumers have been rebounding which has always been good for companies in the last couple of years, 2022 also has a few headwinds, however by yeah, what are the potential concerns here? labour shortages being potentially one of them? labourshortages shortages being potentially one of them? labour shortages which feed directly into inflation pressures. we know that supply chain disruptions has been a big problem and as inflation continues to, that's what all this optimism is built on to begin with. after that, the fact that we do have some national insurance rate increases and tax increases coming up in april 2022, including energy hikes, that's all going to erode consumer spending capabilities which will hurt business confidence over the long run. [30 will hurt business confidence over the long run.— will hurt business confidence over the long run. do you agree with this, _ over the long run. do you agree with this, given _ over the long run. do you agree with this, given that _ over the long run. do you agree with this, given that they - over the long run. do you agree with this, given that they are i with this, given that they are saying the most optimistic they have felt for some 12 years. are you surprised by that? hat are you surprised by that? not surrised are you surprised by that? not surprised at — are you surprised by that? not surprised at all. _ are you surprised by that? iirrt surprised at all. any time you have a market with tremendous support from businesses, in addition to that you've had really easy financial conditions to shore up balance sheets and cash positions, you do get this kind of optimism which is good for the economies, healthy for investment into research and development, capital expenditures by businesses. this will be a tailwind to the uk economy. we should just be aware that the consumer condition, the consumer balance sheet as at risk because of inflation and tax increases and of course because of the variance and the covid—19 position that we are likely to see through the year as well. this is good for companies looking for investments as well? , ., well? very good. for any companies _ well? very good. for any companies that - well? very good. for any companies that are - well? very good. for any l companies that are looking well? very good. for any - companies that are looking for inbound activity, mergers and acquisitions in general have been seeing record years over the last couple of years, 2022 proves to be no different as larger businesses look to spend their cash and often acquire more innovative businesses by buying them instead of having to build out their technology or capability from scratch, so any business looking to be bought out or looking for investment, this is very favourable conditions for them over the next couple of quarters at least.- over the next couple of quarters at least. 0k, thank ou quarters at least. 0k, thank you very _ quarters at least. 0k, thank you very much. _ quarters at least. 0k, thank you very much, great - quarters at least. 0k, thank you very much, great to - quarters at least. 0k, thank you very much, great to see you. ces, the major tech show, returned to las vegas last week, after going virtual during the pandemic. our technology reporter chris fox had a look around the eureka park area of the show, where new products are showcased and hunted down some of his favourite gadgets. welcome to eureka park where there is always something interesting to see. including this place where you can make everything float. today they have put my microphone inside and because the founders are magicians they won't tell me how this is done. i am going to need that back... how this is done. i am going to need that back. . ._ how this is done. i am going to need that back... this? 0k. its manic. need that back... this? 0k. its magic. laughs. _ as always, more and more things are getting connected to the internet. this is a smart tab. i can ask my voice assistant, alexa, ask for 500 millilitres of water. ~ , , , :: :: of water. we will dispense 500 millilitres now. _ of water. we will dispense 500 millilitres now. there - of water. we will dispense 500 millilitres now. there we - of water. we will dispense 500 millilitres now. there we go, i millilitres now. there we go, exactly 500 _ millilitres now. there we go, exactly 500 millilitres, - millilitres now. there we go, exactly 500 millilitres, veryl exactly 500 millilitres, very capable doctors this minute the wi—fi goes off i can't make a cup of tea? wi-fi goes off i can't make a cup of tea?— cup of tea? absolutely not those of — cup of tea? absolutely not those of you _ cup of tea? absolutely not those of you will— cup of tea? absolutely not those of you will always i cup of tea? absolutely not i those of you will always have t. the motion sensor will continue to operate. this is the soapy hand washing kiosk. very important at this time to wash your hands was up have to wallow the instructions on the screens and the camera inside is making sure that i follow all the gestures and properly, # itit-happy birthday # happy birthday to you. remember that? and then my data is updated to the cloud. so how did i do? ., .,, .,, did i do? your wash was perfect! _ did i do? your wash was perfect! you _ did i do? your wash was perfect! you did - did i do? your wash was perfect! you did all - did i do? your wash was perfect! you did all the l perfect! you did all the gestures, goodjob. perfect! you did all the gestures, good job. gestures, good 'ob. super clean! this _ gestures, good 'ob. super clean! this is _ gestures, good job. super clean! this is battle - gestures, good job. super| clean! this is battle racing. gestures, good job. super. clean! this is battle racing. a start—up from columbia which i think we can say inspired by an italianjapanese plumber. i can even leave little tracks here for the people racing behind me —— traps. then, of a go! for the people racing behind me —— traps. then, ofa go! —— for the people racing behind me —— traps. then, of a go! —— off —— traps. then, ofa go! —— off igo! this —— traps. then, ofa go! —— off i go! this is like a —— traps. then, of a go! —— off i go! this is like a black magic cleanup. the idea is once you have finished using —— cleaning the carpet, you can suck some more dust out of the air, not using magic but static electricity. there are a few comedies here doing facial recognition for dogs to let's give it a try. here is a dog. you hold to the camera and it is identified asjohn. what about this dog with the british —— pretty hair clip? is this a different dog or the same dog? it is alsojohn! laughs. what to alcohol and bitcoin both have in common? every height is followed by a crash. i havejust height is followed by a crash. i have just met cecilia. this is a robot bartender. i put my cup here. show me your id. she is asking me for id. 0bviously is asking me for id. obviously a look under 21. sincerely, i will have a blatter verse, please. will have a blatter verse, lease. . ., , ., will have a blatter verse, lease. . ., ., please. oh, cecilia, you are breaking — please. oh, cecilia, you are breaking my _ please. oh, cecilia, you are breaking my heart. - please. oh, cecilia, you are breaking my heart. you - please. oh, cecilia, you are breaking my heart. you are | breaking my heart. you are shaking my cocktails daily. very nice. is that pomegranate? thank you. and this is the perfect gadget or if you have been doing sports or exercise orjust walking around a ces all day. these socks are going to give me instant deep cooling in my muscles from this canister here. ijust give it a press... 0h... canister here. ijust give it a press... oh... oh, that was not very cold. mmmm. chris fox quite literally having the time of his life at ces in las vegas, lucky him. after multiple postponements, the africa cup of nations finally kicked off in cameroon on sunday for a month—long football bonanza. the event couldn't come at a better time for the financially challenged tournament organisers, the confederation of african football, who are projecting a loss of $13 million for the 2020—21 season. the hosts faced burkina faso in the opening game and won it 2-1. the pandemic has obviously had an impact on the tournament, with caf capping attendances at 60% of capacity for most matches and only those who have been double—vaccinated and have a negative covid test can attend. we have a guest here. are you joining us. tell us about the postponement. $5 joining us. tell us about the postponement.— joining us. tell us about the --ostonement. ~ , ., postponement. as you mentioned, it is a huge — postponement. as you mentioned, it is a huge tournament _ postponement. as you mentioned, it is a huge tournament for - it is a huge tournament for three because of as you mention, we covid as well, over the past two years, they needed to support federations and clubs to help them keep afloat. the biggest tournament is not taking place, this is naturally having biggest —— bigger locations. they have reported a financial loss in the last two years and just to put things into context as well because this tournament is huge, not just the caf, if you take the combined revenues of all of the teams, that equates to around $400 million. if you look at that in a european context, they will sit 13th in the rankings. this shows the indications that this has had. butjust indications that this has had. but just the caf indications that this has had. butjust the caf but indications that this has had. but just the caf but the indications that this has had. butjust the caf but the wider football, in africa.— football, in africa. how much are they hoping _ football, in africa. how much are they hoping to _ football, in africa. how much are they hoping to recoup - football, in africa. how much | are they hoping to recoup this year with the tournament, given that capacity is substantially down? , ., �* , down? the figures haven't been disclosed and _ down? the figures haven't been disclosed and what _ down? the figures haven't been disclosed and what they - down? the figures haven't been disclosed and what they are - disclosed and what they are hoping to recoup but we have seen signs in things moving in the right trajectory. for example, the prize money has increased to 5 million for the winners. forthe increased to 5 million for the winners. for the runners—up, just over $2.5 million as well which has been an increase in the previous tournaments that have taken place. hopefully now they are on the right trajectory so hopefully as covid eases and things begin to be a bit normal, we can see a bit more of a move back to their substantial figures. what about tv rights, _ their substantial figures. what about tv rights, how- about tv rights, how unimportant are they financially?— unimportant are they financiall ? , ., financially? they are huge. generally _ financially? they are huge. generally from _ financially? they are huge. generally from any - financially? they are huge. | generally from any sporting organisation. this is one of the areas we really wanted to focus on. previously with caf, they had an agency they worked with who helped with their broadcast and media rights. that was cancelled. so we have seen things that they have done, for example in the uk they have done deals with sky news and bbc. there was afro sports. also in the balkan region they have a deal with sports club. also to mention, locally, which is very important, caf have partnered with the aup, applicant union board casting. they were broadcasting across countries —— —— african union broadcasting. these figures haven't been disclosed but we haven't been disclosed but we have seen they are moving in the right direction in terms of the right direction in terms of the new areas they are moving into. . ., ., the new areas they are moving into. . , into. cameroon is hosting the tournament — into. cameroon is hosting the tournament this _ into. cameroon is hosting the tournament this year. - into. cameroon is hosting the tournament this year. how i tournament this year. how important is it for local businesses?— businesses? yes, it is extremely _ businesses? yes, it is extremely important. | businesses? yes, it is| extremely important. i businesses? yes, it is- extremely important. i have been speaking to one recently as well in the hospitality sector and because of the increased demand on footfall because of the tournament, they have, they are doing wasn't painting things up to make it look better as well and of course, naturally, with major tournaments happening and more people, employing more people. that is beneficial to the economy, morejobs and more disposable income and also the infrastructure that will be in place because of caf in cameroon so improved roads and steadier, helps local businesses, merchandise people selling football jerseys. businesses, merchandise people selling footballjerseys. —— stadium. we know the demand will be there. for local businesses this is great because they want to pursue and point to different areas in the economy and the business. gabriel ajala, great to talk to you. thanks for telling us much more about caf and what its hope forfor more about caf and what its hope for for the africa cup of nations. that's it from me for the moment as i will be but with all the latest including going to melbourne to see if there are any updates on the djokovic situation. you can reach me on twitter, i'm @ samanthatvnews. hello again. sunday brought us a mixed picture of weather. there was a bit of rain across northern areas. we had some lovely winter sunshine across parts of the midlands, east anglia, southern england, parts of wales for a time as well but towards the end of the day, we did rather lose the bright skies in wales, replaced it with some thicker cloud and started to lose the visibility as well. now, right now, we're seeing cloud increase from the west as a warm front begins to push its way in. that is starting to push a bit of patchy light rain and drizzle in across these western areas, but temperatures are rising hour by hour, so it is increasingly turning mild. heading into the first part of monday morning, ten degrees there in plymouth, but cold in rural aberdeenshire — some of the deeper valleys, about —5 degrees or so. through monday, this area of milder air is going to slowly creep its way a little bit further eastwards. with that, could be an odd spit of drizzle just about anywhere through the day, but it will be mainly focused across the west. some heavier rain, though, for western scotland, with strengthening winds here during the course of the afternoon. it is for these western areas that the temperatures will be at their highest — 13 degrees in belfast. further east, not quite so high temperatures, but they're still above average — highs of 7—9 degrees. through monday night and into tuesday, our warm front gets chased down by this cold front. behind the cold front, we get the colder air moving back in. so for tuesday, the murky weather will be across the south — mist and hill fog patches, a bit of light rain or drizzle from that system. further north, a fair bit of sunshine, northern ireland, northern england, wales, the midlands, too. a few showers, though, for the northwest of scotland. the temperatures just dropping away again across most parts of the uk, but mild in the south this time. from wednesday onwards, high pressure builds to the south of the uk and with this high pressure, winds are going to be coming around that from quite a long way south. the mildest air will be heading in across these northern areas. but there will be quite a lot of cloud around — thick enough to give some spots of drizzle. no great amounts, but it could be quite damp at times for the highlands and the western isles, perhaps the northern isles as well. but it's here where we'll see temperatures in double figures. after a frosty start elsewhere, should be some sunny spells. but as the week goes by, a lot of quiet weather. there will probably be some dense patches of fog around as well across parts of england and wales later in the week. that's your latest weather. she good morning, welcome to breakfast with dan walker and nina warhurst. 0ur headlines today. can he stay or will he have to go? a court in melbourne hears novak djokovic's appeal against deportation from australia. at least 19 people — including nine children — die in a fire at an apartment block in new york city. a new plan to help more flat owners remove unsafe cladding. developers will be told to stump up billions. good to stump up billions. morning, it is milking time at this good morning, it is milking time at this dairy in chippenham. we throw away millions of pints of milk every year. could a change to

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