new zealanders have been feeling the pinch from soaring prices as well as unaffordable housing. meanwhile the central bank has pledged not to lower the official cash rate from its 15 year high arthur grimes from victoria university of wellington spent a decade as chairman at the reserve bank of new zealand between 2003 and 2013. there are many priorities for the incoming government. the issue will be the structure of the government as to whether they will be able to do much to tackle the economic problems that are there. at the moment, we don't know and we won't know for another two weeks whether the new prime minister will be able to form a governmentjust with the act party, a smaller libertarian party or whether they will also need to form a three party coalition with new zealand first, essentially a populist pork barrel politics party, and those of the two parties cannot work together very coherently on economic policy, so if it's going to require a three party coalition it's going to be very difficult to tackle problems. if there is a two—party coalition just with act, it will be more straightforward. as the former chairman of the reserve bank, what is your view on the interest rates being kept as they are? how will the new leadership cope with that? they will have to cope with it. the reserve bank is independent. made, in my view, some major mistakes early in the covid period under the last government where they loosen far too far which led to house prices increased by 50% at an already high level and they've had that catch up with them and they've had to increase rate substantially and the rest of the world is inflated as well, so there's no way that the reserve bank will be able to reduce interest rates and nor would the government want them to. if you talk about trade ties with other country, china remains the largest trading partner. are the results going to have any bearing on that if at all? the national party has always been closer to china than the labour party. so i think that national and act together would be quite comfortable dealing with china. and they would also like to open up trade with india, as with the current, existing government, but of course that has been very difficult because of intransigence from the indian end. according to reports the biden administration will announce new rules to prevent american ship makers from circumventing the current government restrictions on sales of advanced chips and chip—making equipment to china. the new rules will block sales of some artificial intelligence chips currently allowed and also require companies to notify us officials about sales of semiconductors that fall outside the banned list before they are shipped to china. and it's a big week for china as beijing hosts a conference tomorrow marking the tenth anniversary of president xi jinping's belt and road initiative. this is his signature plan to build a global infrastructure and energy networks throughout asia, africa, latin america and europe. leaders from all of these countries are expected to attend, including russian president vladimir putin, who is likely to make a rare trip abroad. meanwhile country garden is facing a big test on tuesday with a payment due on an offshore loan. the company had warned investors last week that it could not meet all of its foreign currency debt obligations. then in midweek we are likely to get china's latest growth figures for the three months into september, and analysts will be looking for signs that the world's second largest economy is turning the corner after a covid related slump. we will be keeping an eye on all of those developments later this week but also keeping an eye on earnings season for corporate america. financial giants goldman sachs and bank of america will reporting numbers on tuesday and all eyes will be on how the banking sector is performing when interest rates are at their highest level in more than 20 years. midweek, we will get the quarterly report cards from two of the biggest names in tech today, netflix, as well as tesla. investors will be looking out for the streaming giant's subscription figures and as the tesla, deliveries will be what the market is going to pay attention to. indian is top it service providers are hiring fewer workers this year. most it companies recently reported quarterly earnings and said they had been affected by the global economic slowdown as well as low investment from clients. let's go to mumbai and speak to my colleague, who is tracking the story. good to have you on the programme. how critical is the slowdown that we are looking at, and what are the reasons that we are seeing them? . , , . the reasons that we are seeing them? ., , . ., the reasons that we are seeing them? , ., ., ;;:: 11:11: them? last year over 230,000 fresh engineering _ them? last year over 230,000 fresh engineering graduates i fresh engineering graduates were recruited by some of the top tech companies in the country and this year that number is coming down by nearly half. that's the amount of lower hiring we are seeing from the top tech companies who are saying that the demand for it services they had seen after the pandemic grow across the world which had driven hiring up world which had driven hiring up at breakneck speeds and that is coming down. most it companies are saying that clients across the world are not investing enough and they are dealing in newer noncritical projects and that is affecting their hiring proposals. in fact, is affecting their hiring proposals. infact, in is affecting their hiring proposals. in fact, in this quarter most of the companies reported are cut down in their employee strength, so they are not hiring in similar numbers and that's why the overall employee count, many of them, overall employee count has come down and most of the companies have said they are reassessing whether they will go back to the campus this year to hire more fresh graduates and one has said that they don't intend to go back to the campus and the other companies are looking at and reassessing if they should. this will be a tough time forfresh graduates should. this will be a tough time for fresh graduates coming out in the next academic year because it companies have been the biggest recruiters especially from campuses. if we ull out especially from campuses. if we pull out for _ especially from campuses. if we pull out for a — especially from campuses. if we pull out for a macro _ especially from campuses. if we pull out for a macro picture, - pull out for a macro picture, what is the outlook for growth for the indian it sector? this ear for the indian it sector? this year has _ for the indian it sector? this year has been _ for the indian it sector? this year has been particularly i year has been particularly tough for the it sector and there's been a global slowdown in the us and european markets have slowed down and these are the big consumers and customers for the services it companies export out of india and because of that, the revenue brought from most of the indian it sector companies have been slower. add to that the geopolitical pressure, and the impact of the russia and ukraine war, that was not coming down but we are seeing israel and gaza, that war affecting businesses and that is affecting growth and a recent report from jpmorgan said the sector has not bottomed out and growth will remain slower in the coming months. . ~ remain slower in the coming months. ., ~ , ., ., remain slower in the coming months. ., ~ ., ., months. thank you for “oining us and givingfi months. thank you for “oining us and giving us * months. thank you for “oining us and giving us that h months. thank you forjoining us and giving us that update | months. thank you forjoining. us and giving us that update on the indian it sector. more news within tracking. tiktok says its removed content and accounts which violate rules following the attack by hamas on israel. the social media platform was responding to a warning from the european union which called on tiktok to urgently step up efforts to counter misinformation and explain how the platform was complying with european law. social media firms have seen a surge of misinformation about the conflict such as fake images, as well as mislabelled videos. the eu has also handed x, formerly twitter, as well as youtube and meta, the owner of facebook and instagram, similar warnings along with a 24—hour deadline. switching gears, mg motors says it is in a strong position to take advantage of the shift to electric cars. the brand which is owned by china's saic motors says it sold vehicles totalling more than £1 billion in the uk last year. that's $1.2 billion. mg says sales volumes have more than doubled thanks to demand for its electric and hybrid vehicles. manchester united may be closer to getting a new investor, billionaire sirjim ratcliffe, who controls the ineos group is set to offer to buy 25% of the football club from the glazer family, and the offer is worth around £i.3 family, and the offer is worth around £1.3 billion, or $1.6 trillion. —— 1.6 billion dollars. thanks very much for watching. to stay with bbc news. peter and janet barron share a passion forfencing, and it's a passion they want to pass on. even before they start their own training, the couple from worsley turn up at stourbridge fencing club to help the coaches encourage and develop the next generation. whereas people are singing about football all the time. they don't sing about fencing. so any opportunity we get that we can promote the sport so that there's a lot more young people taking it up, that's so much the better. it's essential that we all help future generations| to come through. and as you've seen tonight yourself, how enthusiasticl those little children eight years on are, | they really enjoy it. fencing brought the pair together many years ago and they've been duelling their way to the top ever since. but this is the first time they've both qualified for the veterans world championships in the same year. janet finished fifth in 2022. she'll bejoined in the british team by sue uffe from evesham. and janet's determined to make it onto the podium in florida this time. hopefully notjust a bronzw. i would like to think it could be silver, possibly gold, but unfortunately the top seeded fencer is from the usa and she's extremely hard to beat. she's been winner for the last four or five years. hello. welcome to sportsday, with me, hugh ferris. our top stories. england reach the semi—finals of the rugby world cup, where they'll be playing the defending champions, south africa. afghanistan's biggest win. they shock the holders, england, at the cricket world cup. and spain are heading to euro 202a. their win in norway is enough for both them and scotland to qualify. hello again. welcome along to sportsday. there will be a repeat of the last rugby world cup final in the last four of this edition of the tournament. defending champions south africa beat host france in paris, while in marseille, england secured their own place in the semi—finals with victory over fiji, a match that was at one point comfortable for england but proved to be anything but. our correspondent andy swiss was watching. # swing low, sweet chariot... england supporters arrived in fine voice but in a pre—match sing off there was only one winner. the fiji fan club were hoping for an upset. could their team deliver one? there seemed no chance, as england grabbed the initiative, tries from manu tuilagi and joe marchant, as they soon stretched clear. but if england fans were getting carried away, so were their players, as from 24—10 down fiji launched a stunning second—half comeback and suddenly it was 24—24. and it was extraordinary. but to england's rescue the boot of their captain, tensest of finishes, they held on, and look what it meant. england, to the delight of theirfans, into the world cup semifinal. what a match and what relief for england. they'll need to improve to reach the final but they are through to the last four in the most dramatic fashion. meanwhile, it was even closer at the stade de france. a thrilling first half provided six tries, including two from french prop cyril bay. the hosts led at the break, after which a much more tense second period had just the one try. but evan etzebeth paving the way for south africa to grab an advantage they wouldn't relinquish winning byjust a point, 29—28, and ending france's involvement in their home world cup. defending champions england have suffered a shock defeat at the cricket world cup, losing in delhi to afghanistan, who in turn have registered the most significant one day win in their history. patrick gearey has more. afghanistan believe they're getting closer to england and belief has always been important in their cricket.

Related Keywords

Anxiety , The Cost Of Living , It Companies , Business , Report , Workers , Mumbai , India , Labour Party , News , Results , National Party , Coalition Government , General Election , Welcome To Asia Business Report , New Zealand , Oman , Six , Christopher Luxon , Country , Cost , Ceo , Election , Issues , Hus Experience , Air New Zealand , One , Central Bank , Cash Rate , Housing , Prices , Pinch , Thigh , New Zealanders , Grimes , 15 , Government , Chairman , Reserve Bank Of New Zealand , Priorities , Victoria University Of Wellington , 2013 , 2003 , Problems , Issue , Structure , Two , Libertarian Party , Party Coalition , Parties , Act Party , Pork Barrel Politics Party , Populist , New Zealand First , Three , Policy , Interest Rates , Fact , View , It , Coalition , Leadership , Mistakes , Made , World , Way , Level , Rate , Well , House Prices , Rest , 50 , Wall , China S , Trading Partner , Bearing , Trade Ties , Course , Trade , Current , Intransigence , End , Rules , Sales , Chips , Government Restrictions , Ship Makers , Circumventing , Chip Making Equipment , Administration , American , Biden , Companies , Semiconductors , Artificial Intelligence , List , Officials , Initiative , Xi Jinping , South Africa , Energy Networks , Plan , Anniversary , Belt , Road , Infrastructure , Europe , Latin America , Asia , Company , Investors , Vladimir Putin , Leaders , Countries , Payment Due , Test , Trip , Country Garden , Russian , Offshore Loan , Midweek , Growth Figures , Signs , Analysts , Currency , Debt Obligations , Economy , Slump , Corner , Eye , Developments , Season , Will Reporting , Corporate America , Bank Of America , Goldman Sachs , Numbers , Banking , Sector , Cards , Giant , Subscription Figures , Eyes , Names , Tesla , Netflix , Tech Today , 20 , Market , Deliveries , Attention , It Service Providers , Clients , Slowdown , Earnings , Investment , Story , Colleague , Programme , Let S Go To Mumbai , Reasons , Graduates , Engineering , Some , 11 , 230000 , Tech Companies , Half , Number , Amount , Demand , Hiring , Speeds , Proposals , Noncritical , Projects , Infact , Employee Count , Many , Employee Strength , Campus , Reassessing , Most , Campuses , Recruiters , It Sector , Growth , Macro Picture , Markets , Outlook , Macro , Ear , Pressure , Services , Add , Consumers , Customers , Revenue , War , Businesses , Ukraine , Impact , On Israel , Gaza , Jpmorgan , Oining Us , Update , Tracking , Givingfi , You Forjoining , Warning , Accounts , Content , Attack , Tiktok , Social Media Platform , Hamas , Misinformation , Social Media Firms , Platform , Conflict , Efforts , Surge , Images , Videos , European Law , European Union , Advantage , Warnings , Switching Gears , Owner , Position , Mg Motors , Instagram , Meta , Facebook , Twitter , Youtube , Handed X , 24 , Brand , Vehicles , Shift , Cars , Last , Saic Motors , Uk , 1 Billion , 1 2 Billion , 6 Billion , 2 Billion , Mg , Thanks , Billionaire Sirjim Ratcliffe , Family , Offer , Ineos , Investor , Football Club , Manchester United , Glazer , 25 , Watching , 1 6 Trillion , 3 Billion , 1 6 Billion , 1 6 Billion Dollars , 6 Trillion , 1 3 Billion , 3 , Janet Barron Share A Passion Forfencing , Bbc News , Peter , People , Passion , Generation , Football , Couple , Training , Coaches , They Don T Sing About Fencing , Stourbridge Fencing Club , Worsley , Sport , Lot , Generations , Better , Help , Essential , Opportunity , Yourself , Pair , Fencing , Eight , Team , Time , Podium , Veterans World Championships , Evesham , Sue Uffe , Florida , 2022 , Winner , Fencer , Gold , Hopefully Notjust A Bronzw , Five , Four , Hugh Ferris , Semi Finals , Win , England , Top Stories , Rugby World Cup , Sportsday , Champions , Afghanistan , Cricket World Cup , Holders , Euro 202a , Norway , Scotland , Spain , 202 , Hello Again , Match , France , Victory , Eedition , Tournament , Repeat , Place , In Paris , Rugby World Cup Final , Fiji , Marseille , Andy Swiss , Anything , Voice , Supporters , Sweet Chariot , Swing Low , Fan Club , Sing , Chance , Upset , Fans , Down Fiji , Players , Manu Tuilagi , Joe Marchant , 10 , Comeback , Boot , Rescue , Tensest Of Finishes , Semifinal , Delight , Captain , Theirfans , Relief , Fashion , Final , Thrilling , Stade De France , Wouldn T , Cyril Bay , Hosts Led , Try , Break , Involvement , Home , Tries , French , Etzebeth Paving , Byjust A Point , 28 , 29 , Shock Defeat , History , Patrick Gearey , Delhi , Cricket , Belief ,