06/02/2014 Asia Business Report


06/02/2014

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over plans to cut nearly a thousand jobs will continue until Thursday

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night. Now on BBC News all the latest business news live from

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Singapore. Shares plunge after the social

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website unveiled worse than expected profit and slowing growth.

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China 's the mad for commodity spurs new industry in Africa. -- demand.

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Welcome to World Business Report, I am Rico Hizon. We kick off with

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Twitter and shares at the website lunged nearly 30% in US trade after

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posting a disappointing earnings report. Its first since going public

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in November. It logged a loss of more than $500 million which is more

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than double analysts expected. It said user growth was slowing down.

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Twitter faces competition here, the first is -- it is banned in China.

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In Japan, caddie line is the most popular messaging service. -- Line.

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We went to find out why Twitter is not so popular amongst Seoul 's

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residents. TRANSLATION: I don't use Twitter because there isn't much I

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feel I need to share with other people. Twitter might be well

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known, but most of my friends don't use it. So neither do I. I'm not a

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user of Twitter, neither do I use other network services. Privacy is

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important to me. People postings on what they have done where they have

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been, and I do like the idea -- don't. I spoke to Rhys firm in San

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Francisco and asked for his thoughts on Twitter 's performance. The

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question isn't the user group and that's not the that worries me, the

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real issue is, can they continue to grow the number of timeline views

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per monthly at the views are? That number has been down the last 2/4 in

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a row. What should Twitter do to refresh its service? Twitter have

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been talking about the right decisions and in its earnings calls

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today, the CEO commented they are looking to make content more

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engaging, adding richer experiences. They commented on the

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introduction of conversation view. But for each of those changes, you

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need to be paying attention to, do they make people more likely to

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consume more content and spend more time on the property... It is having

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a problem in this part of the world, particularly East Asia, are they

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missing out on the most connected countries in the region? I don't

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know if they are missing out but it is the case that, like many US

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-based companies, they are slower to grow internationally than they have

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been in the US. That is in terms of numbers and advertising. What should

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they do? Were to be their strategy for Asia? In Asia, it will be a

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question of whether they can update their offerings passed the static

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140 characters of content so that people think this is a great base

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for me to spend time. The Australian dollar is trading at a two week high

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after the country released positive retail sales and trade state. The

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sales rose by .9% in December compared to other levels, showing

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consumer spending is on the uptake. It moved into its biggest surplus in

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two years, due to higher than expected export numbers. Disney 's

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box office hit Frozen has powered the company to better-than-expected

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numbers. It lifted net income by 33% from the year earlier to 1.8 billion

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dollars in the three months to December. Walt Disney gained shares

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of nearly 2% in extended US trading. Coca-Cola is buying a 10% stake in

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the US coffee remake Greenmount in. The giant will play one point to $5

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billion in shares in the company which makes driver label coffee and

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will release cold beverage machines. China 's appetite for commodities

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and -- in African investment is well-known. They are Africa 's

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biggest investor but it is not just confined to the mining industry as

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our reporter out. She asked why a telecommunications

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company is in Africa 's largest conference in Cape Town. It is here

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to launch the first ever, not in South Africa, but locally. The first

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ever end to end mining Communications solution. We can

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deliver data, voice and video on one platform. The whole multimedia

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system on one platform. We are a telecommunication company and we

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have been operating in South Africa to 12 years, but three years ago

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while we decided to restructure the business strategy, we began the

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enterprise business groups. We are here today... The enterprise space

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is where we supply a communications solutions to various industries like

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transport, energy and mining. That's why we're here today. Is talk about

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the fact that China is perceived to be largely an investor in mining and

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extract differential resources, and not in telecoms. Have you deal with

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that perception? I want Lee know that the prospective and you will

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hear this in the mining in doubt after, -- to let you know, all

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mining companies are concentrating on mechanisation. People are talking

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about efficiency. They are talking about increased production. Now

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talking about integrating various operations of the company. We think

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that to be able to do all of that, you need communication. You need

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technology. We believe we are here today, not only to do all these

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things and improve and transform the mining industry. Thank you for your

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time. As you can see, lots of gadgets behind me as investors are

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urged to test this new technology. Telcos players are riding the crest

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of the mining boom that exists in Africa and the Chinese are seeing

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the synergies between the mining investments, telecoms investments

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and other areas. It is day two of the Delhi auto show

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but the industry has been feeling the effects of a slowdown will stop

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you see the prospect of a turnaround before national elections why the

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end of May. Our correspondent went to the expo to engage the mood of

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the companies they are. -- their smack. It would be hard to

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believe the Indian car industry is going through its worst phase in

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over a decade. Hereat the India auto show you would think that carmakers

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would be worried about the slump in demand, but right now most

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manufacturers are focused on the long-term potential of the Indian

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market. Despite the fanfare, India 's largest automaker has had a tough

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year. Increased competition from global manufacturers has hit sales.

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The company says the good news is in rural India. We tried to target

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100,000 villagers. Next year we will do more. This kind of development is

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important. That is our vision for the company. They want to deliver

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cars for the whole Indian people. Not everyone is doing badly. The

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luxury car market is expanding rapidly. It is still a small segment

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of customers, though. As demand in Europe goes down steadily, most

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companies expect India to do well. We see the market in the first half

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of the year being relatively flat, but post- elections, we will see a

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spurt and expect the market to grow at a similar pace to laugh year --

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last year. We plan to exceed that growth and we are looking forward to

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a great year. Cars can be made at a third of the cost of US and other

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markets. Relatively low labour costs and engineering skills mean

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companies are still investing here. Not just to manufacture more models

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locally, but to source of confidence from local vendors. Despite the

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slump in sales, no one is leaving India just yet.

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Let's look at the markets. Asian share prices are bouncing high. The

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gains despite US equities closing slightly lower overnight. Thank

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you. I'm Rico Hizon. Sport today is up next. I Mike Embley in London

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with the main news stories. The Catholic Church has been criticised

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by a UN committee which says it allowed Rees

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