07/01/2014 Asia Business Report


07/01/2014

Similar Content

Browse content similar to 07/01/2014. Check below for episodes and series from the same categories and more!

Transcript


LineFromTo

warnings for England and Wales. There are three severe warnings for

:00:00.:00:00.

Dorset. Now it is time for the latest news from Singapore.

:00:00.:00:19.

The US Central Bank has a new chief of the majority of US senators

:00:20.:00:23.

confirm a Janet Yellen as the first female chair. You ongoing political

:00:24.:00:28.

demonstrations and Bangkok start to rise and Thailand. Welcome. Asia

:00:29.:00:42.

Business Report. We start off in the United States where as you heard,

:00:43.:00:46.

the majority of senators have confirmed Janet Yellen as the first

:00:47.:00:49.

female chair of the Federal Reserve. She will be succeeding in Bernanke

:00:50.:00:53.

who steps down at the end of the month after eight years in office.

:00:54.:00:58.

Janet Yellen is not to be an advocate of the aggressive stimulus

:00:59.:01:01.

policy also known as quantitative easing which began in 2008. Despite

:01:02.:01:08.

the amount being pumped into the US economy every month, it will be

:01:09.:01:13.

reduced by 85 earlier dollars to $75 billion US. One of the main

:01:14.:01:18.

challenge is to reduce the amount is also known as tapering will be in

:01:19.:01:22.

the months and years ahead. America is dealing with a mixed economic

:01:23.:01:26.

picture as it takes off for the New Year. Janet Yellen's task would be

:01:27.:01:33.

easy. I spoke to our correspondent earlier.

:01:34.:01:38.

On one hand you see the unemployment rate falling to 7%. That is a

:01:39.:01:42.

five-year low. However, it is still high. Parts of America sees people

:01:43.:01:51.

unemployed for more than six months. This is a concern to Janet Yellen.

:01:52.:01:55.

She mentioned a star in her confirmation in November. --

:01:56.:02:03.

mentioned this in her. The economy is recovering but the recovery is

:02:04.:02:07.

still tepid. This is why there are still move for this kind of

:02:08.:02:11.

stimulus. Ben Bernanke and Janet Yellen have both said that the

:02:12.:02:16.

economy is seeing recovery but it is not functioning at its top level.

:02:17.:02:20.

They are Central Bank's role is crucial at this moment.

:02:21.:02:27.

In Thailand hundreds of thousands of NT Government protesters are

:02:28.:02:32.

preparing to taken the streets to oust the Prime Minister Yingluck

:02:33.:02:36.

Shinawatra and put in an unelected council. The country's vast tourism

:02:37.:02:43.

industry are starting to feel the heat. Our south-east Asian

:02:44.:02:50.

correspondent reports from Bangkok. Thailand's pot of gold that keeps on

:02:51.:02:57.

giving. Tourism has continued to grow through political and economic

:02:58.:03:02.

upheaval. It accounts for more than 7% of the entire economy. Visitor

:03:03.:03:08.

numbers were up 20% last year. That is, until December. A sudden drop.

:03:09.:03:16.

Anti-government protests continued in Bangkok week after week. The

:03:17.:03:22.

group also and were able to challenge and at times trace of the

:03:23.:03:27.

police. Nobody can guess now how this will end. -- able to chase off

:03:28.:03:35.

police. Until now, protests have been a bit more than an

:03:36.:03:41.

inconvenience and sometimes even an unexpected attraction but the total

:03:42.:03:44.

shutdown planned for next week will have a far more serious impact on

:03:45.:03:49.

the city's economy. What is more worrying is the country's steady

:03:50.:03:53.

drift into a more violent and protracted conflict that could drive

:03:54.:03:59.

big investors and manufacturers to reconsider their commitment to

:04:00.:04:04.

Thailand. Electronics, for example, are worth $20 billion a year. That

:04:05.:04:08.

is more than one quarter of the X was that Thailand depends on

:04:09.:04:16.

heavily. -- exports. They are not easy to move elsewhere. If they do,

:04:17.:04:23.

they won't come back quickly. Outside Bangkok, the turmoil is

:04:24.:04:27.

scarcely visible. There is no reason yet to avoid the beach resorts. Even

:04:28.:04:34.

they can't be completely insulated from an intractable conflict which

:04:35.:04:42.

is threatening to tear the country and how.

:04:43.:04:49.

South Korea Samsung Electronics has forecast its operating profit for

:04:50.:04:54.

the three months to the scene last year fell by 18% to about $7.8

:04:55.:04:58.

billion. This is compared to the previous quarter. We got this report

:04:59.:05:03.

from the biggest maker of mobile phones and TVs. Four other news, log

:05:04.:05:13.

on to the BBC website and click on the business index will -- business

:05:14.:05:23.

index. An effort to slow growing debt in China and regulate the

:05:24.:05:26.

lending practices will stop shadow banking is a channel in which an

:05:27.:05:30.

actual institutions provide formal sources of loans for businesses will

:05:31.:05:34.

stop earlier I spoke to a correspondent about China's debt

:05:35.:05:40.

concerns. Total debt to GDP in China is

:05:41.:05:44.

running at about 200%. This is very high for a developing economy. There

:05:45.:05:51.

is concern for financial instability particularly as a lot of the debt is

:05:52.:06:01.

in the so-called shadow sector designed to circumvent the normal

:06:02.:06:06.

banking regulations. In this report, it aims to tackle this and the risk.

:06:07.:06:13.

It is all a part of China's strategy to get away from a model of growth

:06:14.:06:17.

based on this very high level of borrowing and investment and moving

:06:18.:06:19.

to something more sustainable, a model of growth based on consumer

:06:20.:06:23.

spending. How do these guidelines Capecchi

:06:24.:06:28.

shadow banking rules and other nations ?

:06:29.:06:35.

-- compare to shadow banking rules. Since the financial crisis, shadow

:06:36.:06:43.

banking, more conflux products have come in for concern. There is

:06:44.:06:48.

concern that this lending can compose risks of instability. China

:06:49.:06:55.

is bringing itself into line with other economies. People have pointed

:06:56.:07:00.

out that the tone of the regulations is evenhanded. It is not trained to

:07:01.:07:05.

do away with a shadow banking, it is trying to regulate it and bring it

:07:06.:07:07.

into a more formal setting, recognising that in a diverse

:07:08.:07:16.

economy, you need diversity and the ability for people to go to other

:07:17.:07:20.

sources if they can't get money from the banks, for example. This is

:07:21.:07:25.

China's way, some people would say, of moving towards economic reform

:07:26.:07:30.

which is all geared towards the shift to a consumer driven economy.

:07:31.:07:40.

CSX is a taboo subject in Malaysia. It is a conservative country. --

:07:41.:07:45.

safe sex was up it is home to the world's this condom maker.

:07:46.:07:57.

For every ten condoms produced in the world, at least one comes from

:07:58.:08:04.

Malaysia. It is likely that you have never heard of the company before.

:08:05.:08:08.

Karex. They merely produce for international brands. Here, for

:08:09.:08:12.

example, they are producing chocolate flavoured condoms destined

:08:13.:08:17.

for Brazil. A third of the condoms and leave this factory go to the

:08:18.:08:21.

United Nations and governments. The promote safe sex and they want

:08:22.:08:24.

condoms that are as attractive as possible.

:08:25.:08:29.

Even countries like Indonesia have requested flavoured condoms.

:08:30.:08:34.

Durian flavoured? Yes. That is stinky fruit. We also have one

:08:35.:08:41.

client and Amsterdam that wanted a narrow one flavoured condom.

:08:42.:08:46.

Marijuana ? May I ask how you got that extract ?

:08:47.:08:50.

It as synthetically flavoured. You don't get any tax from that.

:08:51.:08:59.

Karex has to be innovative. Its costs are low. It cannot directly

:09:00.:09:05.

advertise to consumers in its country.

:09:06.:09:08.

Today, young people are very connected to the Internet. The

:09:09.:09:16.

access of smart phones has made it their way. We can look into getting

:09:17.:09:23.

greater information about our products.

:09:24.:09:25.

A sense of humour has also kept this family firm in business for four

:09:26.:09:29.

generations. It trickles down to the factory floor. Here, workers check

:09:30.:09:33.

every condom for calls before it is sold.

:09:34.:09:38.

Is it fun? Yes. What about customer feedback ?

:09:39.:09:45.

People like to tell me, your condom doesn't fit me. I say, you can come

:09:46.:09:49.

to my factory and I will fit you. If you look at the size of the condom,

:09:50.:09:53.

the thing is, it will fit practically everybody, even your

:09:54.:09:56.

whole body. That is something I hope not to try!

:09:57.:10:06.

That was Malaysia. The fully go, here is a look at the markets. As

:10:07.:10:14.

you can see, most Asian stocks are trading higher in mid-morning

:10:15.:10:17.

Tuesday trade after activities are slightly higher in the US overnight.

:10:18.:10:21.

Janet Yellen was confirmed by the Senate as the Federal chairwoman.

:10:22.:10:30.

South Korea's currency is up by ten points. But in the upward trend is

:10:31.:10:33.

Japan, down by 80 points. Headlines: Millions of people across

:10:34.:10:51.

large parts of the United States and Canada are being warned to stay in

:10:52.:10:54.

doors to avoid extremely cold weather. Cabbages are forecast for

:10:55.:11:04.

-40 degrees. There are fears that militants linked to Al-Qaeda could

:11:05.:11:06.

establish

:11:07.:11:07.

Download Subtitles

SRT

ASS