Business news live from singapore. Chinas one belt one road for it kicked off in beijing. Just how lofty are its Silk Road Ambitions and can they be filled . More victims are expected of the cyber attack as they return to work after the weekend. Hello and welcome to Asia Business report. Leaders from 28 nations are gathered in beijing to bring chinas grand plan to invest billions of dollars to improve its global trade links one step closer to reality. Called the one belt one road initiative, it was proposed in 2013 by president xi xin ping. Its ambitions span over 60 countries and the president has pledged billions of dollars for the scheme. There are sceptics that say it is an expensive exercise to extend chinas political and economic influence. We are joined by our asian Business Correspondence in the studio. 124 billion, no small number. Of course, this was an announcement that was made to all of the World Leaders that were gathered to listen to president xi. Why are the chinese making such a big deal about this . In simple terms, this is chinas beat coming out party and especially so beat coming out party and especially so for president xi jinping. He beat coming out party and especially so for president xijinping. He has basically pegged his credibility to this initiative. He is basically saying that this is a project of the century. But have looked at how fast this initiative is. If you can see on the mac right now, the one belt 0ne road plan, it goes through most of asia, africa and all the way up to europe. On the map. This is railways worth 1 trillion. Even more money being pumped in by the chinese. The plan is that with this initiative, trade will flow from east to west and in theory from west back to east and that will help the economies Around The World to grow. You mentioned it will go into the trillions of dollars, this huge project. All of the ports and railroads. The chinese are paying a significant amount of that and what country to come on board. They are also wanting the private sector on board. Booval the money come from . Initially, it will be financed by china but they cant do it alone. Where will the money come from. It is cognisa nt about where will the money come from. It is cognisant about the fact it cant afford it all alone. Local governments in particular are wondering whether they have the firepower to invest because otherwise they wont need chinas help. The Investment Bank has said trillions of dollars is needed in asia over the next few years and chinas 0ne belt 0ne road goes some way to solving that problem but how oui way to solving that problem but how our local governments going to get the money . And a quick one on corruption. There is a bit worried that china is investing in countries with very bad records of governance. How can they mitigate some of their losses . How can they mitigate some of their losses . Pakistan, centralasia, countries where Foreign Investors do not go in without some degree of caution. China is much the same and privately, some officials are saying they dont expect to get a massive return on investments. 0ne they dont expect to get a massive return on investments. One to watch for the future. Thank you very much. We will be watching the second day of the forum today. Europess Police Agency since last fridays Global Attack has hit more than 200,000 feet and is in over 150 countries. Cyber security agencies are now warning of a new wave of Cyber Attacks are round the world as people return to work after the weekend. They have seen this as a major problem over the years but never on this soul. Infected computers pass it onto others its network europol has seen this. They were designed to affect as many people and as Many Companies as possible on and as Many Companies as possible on a global basis. The Healthcare Sector is vulnerable. Healthcare trusts approach a lot of Sensitive Information on old legacy it systems. The criminals know that if they can exploit the vulnerability is, there will be a lot of issues. 150 countries were affected before a 22 year old briton, hailed as a hero, bound a simple kill switch in its code. Something he warned was just a temporary fix. There is a lot of money in this. There is no reason for them to stop. There is no effort for them to stop. There is no effort for them to change the code. We have seen seen for them to change the code. We have seen seen the cyber criminals react to that and put out a new version, and new variant of that which overcomes the temporary fix and am also concerned about what happens on Monday Morning because i think the bug will be sitting in systems over the weekend that have so far not being used. When people arrive to work on Monday Morning and turn on their computer, i think we will see their computer, i think we will see the numbers going up again. While the numbers going up again. While the high profile organisations have largely recovered, britains nhs one of them, thanks to backup systems, some systems, and individuals, were not so prepared. Students at this campus from china, no option but to pay up campus from china, no option but to pay up if they want their files im locked by the hackers. Translation the encryption of planet ra nsomwa re was advanced. The encryption of planet ransomware was advanced. Individual users would not be able to recover theirfiles. For users, they should also make always back up their files, upgrade best suit Security Softwa re files, upgrade best suit Security Software and use antivirus tools. That is the main advice from security experts. Download the latest Security Patches from microsoft and regulate backup data to devices not connected to the internet. Lets look at some of the other news. We will be keeping an eye on this week. Later today, thailand and sales Growth Numbers on the january p0 january to may period. Since the death of their king last year, thailand is expected to have grown at their fastest pace in force 4 yea rs. At their fastest pace in force 4 years. Googles Developers Conference gathered from Around The World. Letter this week, conference gathered from Around The World. Letterthis week, Singapore Airlines reveal their earnings. Later. We will see them going into debt is only as 2018. Also, japan releases its preliminary gdp and just like thailand, growth is projected. Earlier, ispoke just like thailand, growth is projected. Earlier, i spoke with and investment expert. Exports are picking up. Consumers are spending and tourists are returning. These are three meant main drivers for thailand. If they can main drivers for thailand. If they Ca N Start Main Drivers for thailand. If they can start exporting, things will look after. There is a cloud on the horizon and that is that much of thailands exports are destined for china and thailand makes the product that china then assembles which are then exported to the west. If Trade Relationships between the us and china are not good then of course that could affect china which in turn will affect thailand. Moving on, quickly. Google and technology from internet Search Engine to self drive self driving cars. Whats next . Killam the thing about this conference is something surprising a Lwa Ys Conference is something surprising always comes out the thing about this conference. I think technology affects all of us and will touch all of us. I think in the case of google, they appear to be working on things like virtual reality. How thatis things like virtual reality. How that is actually impacting my life, im not entirely sure. For some people, it will be a big thing. They are working very hard on google home which means your home will be connected with the things you do on a daily basis. I can for instance set my Washing Machine last sitting here talking to you. Fascinating. Lets look at Singapore Airlines. Brand new planes. They have been buying a lot of Them Asperitas sense they might go into debt as soon as next year. Whats expected that their results . What they said last time they came out were the conditions were challenging. I think we know things are challenging at the moment that what you touched on about that debt is quite interesting. Previously, they had about 3 billion worth of cash, half of which was debt which means they we re of which was debt which means they were ina of which was debt which means they were in a metcash position. What could happen as they start at spending on these planes, they could start using up a lot of this cash and instead of having net cash, they will have net debt. They properly think that having some net debt is not such a bad thing. Japan expecting growth . |j not such a bad thing. Japan expecting growth . I think so. One thing 1 person smiling will be that of japans of another. I think he will be smiling because it is finally working. Bank ofjapan. The Nikkei Injapan and the all ordinaries in australia are both trading law at lower, taking their cues from wall street. It was due to a weaker than expected retail sales and a report on Consumer Prices in the us. Of course there are geopolitical issues as well after the Missile Launch in north korea over the weekend which is unnerving some investors over in japan. That is it for this edition of Asia Business report. Thank you for watching. Top stories the sour. At this hour. North korea says its successfully tested a new type of missile it claims the us is now within range. Experts have warned of a possible new wave of Cyber Attacks Around The World when people return to work after the weekend. Stars of the small screen have gathered in london for the annual Bafta Television awards. Among those honoured wasJoanna Lumley, awarded the bafta fellowship in recognition of her work over four decades. 0ur Entertainment correspondent lizo mzimba was there his report contains flash photography. 0n the red carpet, many of tvs best known faces for a ceremony, potentially more significant than many before it. Five years ago programmes on online only channels couldnt be entered. This year, after a series of rule changes, they are not only eligible but streaming service netflixs Royal Drama The Crown is leading the nominations. 0n the Night The Royal Drama went home empty hand and in a more traditionally feeling result the bbc dominated, winning more than three quarters of the awards, including two baftas for. Happy valley. I thought i got through to him and he was stepping down. The Yorkshire Set Crime Drama won best series and best actress for sarah lancashire. Clare foy, you have given me the best ten hours under a duvet, that i have ever had. The drama, damilola, 0ur loved boy also won two baftas, including best supporting actress for i pray for justice and a couple of awards for plan the earths snakes verses iguana chase. The mini series award went to channel 4s National Treasure about a comedian accused of historic crimes. The bbc news won the award and Joanna Lumley received a Standing Ovation after she was received with baftas highest accolade, the fellowship. Egyptian archaeologists have discovered an ancient burial site holding at least 17 mummies, most of them fully intact, which could date back 2,000 years. The site was uncovered eight metres below ground near the Nile Valley City of minya, about 150 miles south of cairo. The mummies were elaborately preserved and therefore likely belong to officials and priests. Work at the site, which is close to an ancient animal cemetery, is only at a preliminary stage, so the discovery could be much bigger. If you want to get in touch with us here at bbc news, you can do so on social media. Im bbckasiamadera on twitter. You can also find us on facebook. But now, sport. Hello, this is sport today, live from the bbc sport centre. Coming up on this programme kim si woo becomes the youngest to win golfs prestigious Players Championship championship. Roma rumblejuventus in italy, while real reign supreme in spain. And rafa takes the crown in madrid for a fifth time as he gears up for tilt at a tenth french open title. Hi there. Wherever you are Around The World welcome to sport today. In the past hour south korean kim si woo has become the youngest ever winner of the Players Championship at sawgrass. Kim carded a final round of 69 to finish 10 under par. The 21 year old kim began the day two shots off the lead but took top spot in a faultless final round
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