30/01/2014 Asia Business Report

sovereignty but retain the sterling. The Scottish government wants to

keep the pound if it breaks away. Now time for the latest business

news live from Singapore. America's Central bank continues to

reduce its supply of cheap money, reining in its massive bond buying

scheme. As China becomes the board's biggest market for red wine

consumption, we find out how producers are making the most out of

it. Thank you for watching. The Asian business report. The kick off

with the American central bank reducing its monthly bond buying

stimulus programme by $10 million to 65 billion, staying with its plan to

cut back the supply of cheap money will stop the Federal reserve said

economic growth had picked up since December. The move was expected but

the US share prices fell overnight on the news. In Asia, Tokyo is down

more than 3%, that is 500 points, following the tumble in New York and

worries over turbulence in emerging markets in addition to the Fed's

decision to cut stimulus ending. Australia is giving back more than

1%, those 53 points, in the Hong Kong stock market that is losing

about 326 points at 1.5%. South Korea is closed G2 the lunar New

Year holiday. What this suggests is that the

struggles in the emerging markets while important to keep an eye on in

terms of the US economy, it does not pose a really big threat, that is

why I think you're seeing the Federal reserve continuing on with

the reduction in its acid purchases. It really went on to talk about the

strengths in the US economy, it is actually, economic activity is

gaining steam here, we are seeing consumer confidence increasing, we

seek operation starting to hire again and there is a sense in this

country that the economy is getting a little bit better. They foresee

that to be happening in the future which is why you see the Federal

reserve deciding to continue with its plans to scale back its support

of the American economy. With the scaling back of the bond buying

programme, there were no surprises, the Fed stayed the course, the

market still reacted to the downside they were expecting this. It is

interesting because one of the reasons why the Fed, the third felt

comfortable with the reduction. If you look at the last time the

Federal reserve announced the reduction, the stock market took the

information quite well. This time we saw the markets here in the United

States fell by 8% or even more. -- a percentage point or more. That has

to do with corporate earnings of less than anticipated and also the

strain we are seeing in emerging markets, that is putting some

pressure on markets here in the United States. In other business

News, making headlines, in a surprise move, Google sold

Motorola. They bought it for $2.5 billion in 2012. They have made a

loss. They will keep several lucrative patents, including the

android smartphone and the tablet software. In a statement, they said

the smart phone market is complex. Shares in Facebook sorry more than

10% in after-hours trading after the company reported

better-than-expected profits for the three months ending in December. The

company recorded revenues of $522 million for the quarter and that is

a city 3% increase from the year before. -- city 3%. The blues came

from strong mobile advertising sales. Shares in Japanese game

console maker Nintendo are climbing by 7% in Tokyo trade today after the

videogames maker said it would buy back about $1.2 billion worth of its

outstanding shares. Nintendo which reportedly has diving prophet said

its executives would take a pay cut it to make amends for its poor

performance. The firm is to announce a new strategy later today. Fresh

growth darter from the Philippines reveals its economy expanded by 6.5%

in the final call -- quarter of 2013, beating most expectations.

Done from a 6.9% gain in the previous quarter. The expansion

comes despite the impact of tough and high-end which shocked the

country in November. -- tough and high-end. Repair works costing $8

billion could provide a boost to the economy in 2014. Earlier I asked

what else would drive the Philippine economy in 2014. One of the positive

point of the economy is that public and stroke -- consumption remain

strong. That should continue to support the economy in 2014. Another

positive for the economy is we are seeing revival in manufacturing. The

manufacturing roof came into double digits. It should benefit from the

better global growth this year. Manufacturing has been one of the

weaker points of the Philippine economy that has been driven by

remittances from overseas and the surging growth of the outsourcing

industry. That is wide. -- right. We need to remember the infrastructure

that should continue to drive growth. We expect that to continue

this year, especially with the reconstruction efforts taking place

in the affected areas by the typhoon. In South Africa, the

central bank has raised 25 1/2% the interest rate. The bank was by

Governor said the global financial crisis was entering a new phase.

There were new challenges for emerging market economies. She said

the depreciation of the South African currency and its exchange

rate was a primary cause of the red Riders. Boeing saw profits mean 26%

to $23 billion in the three months to December as it delivered more

commercial aircraft. The shares fell at early training, the future

revenue and profits would be lower than had been forecast. The company

said that it expected to deliver up to 725 air planes this year, a 10%

increase on 2013. China has overtaken France and Italy to become

the wobbles like biggest consumer of red Lion. -- red wine. The wine

market in Asia is set to become as big as the United States within

three years. We look at how some companies will crack into the market

as the region's appetite for wine develops. Preparing for a dinner

party is not always easy, especially for Kelly Lynn who wants to serve an

unusual dish called Fish head curry. It is popular in Singapore but like

many Asian specialties, it is difficult to pair with wine. She is

turning to a bespoke Internet site to ask producers for help. I am more

of a social drinker. He was great to help me with planning like dinner

parties for my friend. Asiafirst for wine is developing, fuelled by

demand, sales across the region amounted to $28 billion per year. In

Asia, red wine is a lot more popular than white wine, even in the

tropics, one reason for that is the colour red is seen as more

auspicious, so the demand for red over white is something that

produces looking to increase their market share here need to keep on

top of their mind. 29 -year-old Paul Durkin is the founder of one

family, a website where people can showcase in select products for

free. With global Internet sales worth $5 billion per year, he says

is for them to connect with buyers online. In Indonesia and Malaysia,

while consumption of wine is one, the use of social media is extremely

high. This is where people want to engaged. 15 wine makers and

distributors now use the website, here, one of the world's biggest

producers, staff are looking to add new wines to their online store.

That is because last year's sales in Singapore rose 4% by being part of

one family for a month. Our consumers tend to be younger, they

tend to be people who are not engaged in the more traditional

media forms like Prince but these people are very importantly looking

at social media is the key influence on their purchasing decisions.

Despite Asia's reference for red wine, I can carry's apartment, they

are white wine with their curry. Since you're the recommendation for

the wireline, it highlights the potential of the Internet in

changing Asian palates and the winds that people buy. -- winds. Make sure

you talk at the revamped Asian News plays which will feature more news

from around the region. The Canadian pop star Justin Bieber

has turned himself into police in Toronto on charges relating to

allegations of an assault on a limousine driver in December. A

freak snowstorm that hit state in the US did