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tv   World Business Report  BBC News  December 19, 2016 5:30am-5:46am GMT

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this is bbc world news. the headlines: reports from syria say that the evacuation of the rebel held enclave in eastern aleppo has resumed. 300 people have been moved out on buses. however, several thousand remain, living in desperate conditions. the president of the democratic republic of congo, joseph kabila is supposed to step down today but elections to choose a successor have been postponed. opposition parties say they will challenge his refusal to give up power. venezuelan president, nicolas maduro, has said his abrupt decision to scrap the country's most—used currency note had allowed the country to triumph over its enemies. in a tv broadcast, he said the move had destroyed the black market. the hungarian—born actress and celebrity, zsa zsa gabor, has died. her age was a closely guarded secret, but she was thought to have been 99. she made more than sixty films but was best known for her string of husbands and love of diamonds. now for the latest financial news with sally budock and world business report.
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panic—buying and looting in venezuela, as the currency crisis reaches a peak. the president is now forced to backtrack on the withdrawal of the 100 bolivar banknote. and it survived two world wars and the onslaught of the big supermarket chains, but could brexit now mean the end of the british corner shop? hello. and a very warm welcome. welcome to world business report. i'm sally bundock. also in the programme, we'll find out howjapan and the european union try to carve out a free—trade pact in a new age of protectionism. but first: venezuela is a country in chaos. troops are patrolling cities where looting and protests erupted over the government's plan to withdraw the country's largest
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denomination bank note from circulation. a partial curfew is in place in the southern city of ciudad bolivar, which has been most affected by the disturbances. president nicolas maduro says more than 300 people have been detained. he has now postponed the withdrawal of the 100 bolivar note untiljanuary and, seeking to calm nerves, has said a first batch of replacement notes had arrived and would be put into circulation. so, how did it get to this? venezuela's economy has been struggling for a long time now. by the end of this year it will be producing more than 20% less good and services than it did in 2013. one of the driving factors is the reliance on oil. the black stuff accounts for 96% of exports but even before the price collapse of the last two years the economy was shrinking. that along with the way the government has managed the economy with price and currency controls mean the international monetary fund is predicting inflation of nearly 500% but some dispute that figure. and that's why the 100 bolivar note
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which was supposed to have been withdrawn on friday is worth less than two us cents. it was the most common banknote accounting for almost 48% of the currency in circulation. with me isjimena blanco, head of latin america at global risk advisory company, verisk maplecroft. it is always good to see you. it sounds like complete chaos. it sounds like complete chaos. it sounds like complete chaos. it sounds like an idea that was not thought through at all when it introduced this time last week. thought through at all when it introduced this time last weekm shows a lack of planning on the part of the government. the need to replace the 100 bolivar note with natural inflation was natural. we expected higher bills to be introduced. what was poorly plans to
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—— planned was the way it was done. the banks were running out of money and nicolas maduro knew as much. they had only 2% of the 100 bolivar notes in circulation and that would have been enough to curry demand for three days. the new ones are not on the scene, the 500 bolivar note which will be most likely used and most widely used. yes. also, the 100 note will be replaced by coins. those are starting to be produced at the moment. the problem is, will people have enough money? we are heading into the christmas season, a high demand season for currency. many venezuelan is do not have access to a form of payment. what happens when people try to go to the
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shops and want goods but have no money. i think you have the answer, protest a nd money. i think you have the answer, protest and riots. that is what i ask you about with the latest move of nicolas maduro. how is he doing? he has been under pressure from his party for some time but he is digging his heels in. he is highly unpopular. look at most polls. a vast number of venezuela ns unpopular. look at most polls. a vast number of venezuelans want a change and they blamed him for the horrible economic situation. there is not really a clear constitutional way out of this. the opposition has attempted to remove the president. those attempts have not been successful. and so i think we are in a situation where we will see sporadic protesting, riots, looting, goods not being available in shops, and the latest measure is really a recognition that social unrest was about to spike quite severely over
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the weekend. 0k. jimena, thank you for coming in. we appreciate your perspective and we will keep across that. this week, finance leaders from japan and the eu want to reach an agreement on a free—trade pact. it comes at an uncertain time for international trade, as us president—elect donald trump speaks of protectionism and the uk's decision to split from the european union. karishma vaswani is in our asia business hub in singapore. it is good to see you. this is an interesting move, isn't it, on the pa rt interesting move, isn't it, on the part of japan interesting move, isn't it, on the part ofjapan and the eu? yes. just when you thought we were seeing the end of free trade deals and the decline of globalisation, japan is trying to fly the flag high. they are meeting this week to hammer out are meeting this week to hammer out a long—awaited trade deal anticipated for a long time between
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the two sides. japan is the eu's second biggest trading partner outside of china. they make up more than a third of the world's gdp. 0n saturday, the eu said it was close toa saturday, the eu said it was close to a deal with japan. that would possibly be by the early part of next year. that is only if japan opens up the eu farm could and they allow japanese cars in the eu u nfettered allow japanese cars in the eu unfettered access. they used stand to gaina unfettered access. they used stand to gain a great deal from a trade agreement like this. many have said symbolically it would signal that free trade deals are not going out of fashion despite statements from us president—elect donald trump that the us will pull out of the trans—pacific the us will pull out of the tra ns—pacific partnership the us will pull out of the trans—pacific partnership and also the vote by the uk to lead the eu. both of these things have been seen as anti—trade moves. both of these things have been seen as anti-trade moves. 0k, very
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interesting. we will keep an eye on that. the corner shop has been at the centre of our communities for more than 70 years and despite the rise of supermarkets and a change in our shopping habits, the corner shop market is expected to increase by 17% to £44 billion over the next five years. babita sharma, herself the daughter of shopkeepers, investigates how the corner shop has managed to survive. with every corner shop across britain, there is a story. and that story reflects the changing face and fortu nes story reflects the changing face and fortunes of the country. 97 peak, love. thank you. and don't worry about the three p. britain has often been called a nation of shopkeepers, a nation built on entrepreneurial drive dating back to the 1940s. the
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corner shop was the social centre of people. people talk about things. they talked about interesting things. it was the social gathering of the area. look at bbc, it picked up of the area. look at bbc, it picked up all the news. the rise of supermarkets threaten the future of the corner shop markets. but with a new wave of migration came a new lifeline for the local shop. we were born to do this. the principal for most indians was now we are free of the colonials, we are going to be oui’ the colonials, we are going to be our own masters. we are not going to work for anyone else. it is a small emotional and political revolution foran indian emotional and political revolution for an indian mentality to kind of push that line through all the way to becoming an entrepreneur and becoming your own boss. but life for shopkeepers was not easy. they are under threat from supermarkets nestling in on the high streets with
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discounted products. they had no choice but to diversify. you have sainsbury is over there. i wanted to close a few years ago and forget it. but they now seem to have the winning formula. luring customers with the spoke offerings like home—made curries and home—grown vegetables. it has got everything. i have never seen vegetables. it has got everything. i have never seen so many vegetables. it has got everything. i have never seen so many spices and vegetables. yeah. yeah. basically if you want to create anything exotic and exciting you would come here. with brexit now a reality the corner shop may face its guest yet threat for survival. —— biggest. this unsung hero soldiers on anyway. it certainly does. good morning to my
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local shop. i know you are watching. and now for the markets. a slightly stronger yen for the first time in three days, though still extraordinarily weak. growth in china hampering trade in asia today. that all from me now. stay with us. we will review the news and what they are discussing in just a minute. the number of lives lost due to suicide in england is unacceptable, according to a group of mps. it remains the biggest cause of death in men under the age of 49. in a report, the health select committee says a government prevention strategy for england in 2012 didn't result in any improvements. it's due to be updated early next year. 0ur health editor, hugh pym, reports. it was 13 years ago. angela and her
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grandson had two young sons. one minute you are talking to them on the phone and then you are never talking to them again. the shock of that... your head kind of tricks you into thinking this cannot be real. she now heads a national charity supporting those affected by suicide. she also presented a bbc documentary encouraging people to talk more about the issue. my work and of the trustees and the volu nteers and of the trustees and the volunteers is to break the ice. reports say a government suicide prevention strategy for england in 2012 did not achieve its aims. the proposals included this. the key message here is that suicide is preve nta ble. message here is that suicide is preventable. and what we have heard
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from one witness very powerfully is when she said it was not my son who was hard to reach, it was the service is. a department of health spokesman said every death by suicide was tragic for families and an updated strategy due early next year would address some of the issues raised by the committee. angela has welcomed the report and hopes it will make a difference and help prevent more of the sort of devastating losses she had to endure. hugh pym, bbc news. i'm adnan nawaz. the top stories this hour: medical officials in the syrian city of aleppo say they've resumed the evacuation of people trapped in the rebel—held east. the president of the democratic republic of congo's term in office formally expires today, but he's refusing to give up power. elections to choose a successor tojoseph kabila have been postponed on logistical grounds. talks with the main opposition bloc, mediated by church leaders, have failed to reach a compromise.
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a further attempt is due on wednesday. venezuela's president says the decision to scrap the most used currency note has allowed the nation to triumph over other countries. the hungarian—born actress and socialite zsa zsa gabor has died. her age was a closely guarded secret, but she was thought to have been 99. we begin today's review in the democratic republic of congo. checkpoints are operating in the country and there are apparently thousands of security forces out and about. the president says he will not step down, despite his term
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coming to an end today. there has been a crackdown on social media. the philippine star headline reads "duterte wants six executions daily". it's looking at the president's so—called war on drugs, reporting that he wants capital punishment restored. an emergency meeting between asean countries is being held to discuss the rohingya population. the independent shows protestors criticising nobel peace prize winner and myanmar‘s de facto leader aung san suu kyi for not doing enough over allegations of violent crimes against rohingyas. the financial times has a survey of economists who believe the us federal reserve will wait half a year before raising interests rates again. some say they're watching to see what president—elect donald trump will present in his economic package.

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