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Shepperton in Surrey. Now on BBC News - all the latest | :00:00. | :00:00. | |
business news live from Singapore. Putting on a show. The region's | :00:07. | :00:22. | |
biggest aviation event kicks off in Singapore. | :00:23. | :00:23. | |
Doing business in India, the competition is heating up as more | :00:24. | :00:26. | |
and more foreign firms enter the market. | :00:27. | :00:31. | |
Thanks for joining us. We start off with the biggest aviation event, the | :00:32. | :00:43. | |
Singapore Airshow, which begins on Tuesday. Aviation leaders around the | :00:44. | :00:47. | |
globe have come to see this, hoping to do some major deals. More than a | :00:48. | :00:51. | |
thousand companies from 20 nations will be here. The previous airshow | :00:52. | :00:57. | |
in 2012, deals worth $31 billion were announced. One country with a | :00:58. | :01:02. | |
strong presence is the US. It is the feature country this year. We spoke | :01:03. | :01:06. | |
with the American ambassador to Singapore. We asked how important | :01:07. | :01:12. | |
the air show is the US. It is crucial. We all know that Asia over | :01:13. | :01:18. | |
the next 20 years is going to do more business with the rest of the | :01:19. | :01:26. | |
world combined. We have 163 companies here which represent the | :01:27. | :01:29. | |
largest companies to the small companies, commercial services. If | :01:30. | :01:36. | |
there is a need in aerospace, we have a country to fill the bracket. | :01:37. | :01:42. | |
Asia is a big pie right now where everybody wants to invest. In which | :01:43. | :01:49. | |
countries and in which institutions? The beauty about the aerospace | :01:50. | :01:55. | |
industry because it is so mobile by definition means that you can do a | :01:56. | :02:01. | |
little here and there. This airshow allows us to talk to all the same | :02:02. | :02:07. | |
people at the right time. And get deal done, as you say. Deals not | :02:08. | :02:13. | |
only on the commercial side but also the military. How does this fit into | :02:14. | :02:20. | |
the overall Asia policy of President Obama. We are seeing a real-life | :02:21. | :02:25. | |
manifestation of rebalance and since before I got here. This is when we | :02:26. | :02:32. | |
can show the world that we have over ten Admiral 's and generals with | :02:33. | :02:38. | |
four stars above coming here, standing side by side with CEOs and | :02:39. | :02:43. | |
regional leaders. They are working hand in glove. -- admirals. We can | :02:44. | :02:49. | |
see economic potential in this part of the world but also frontier | :02:50. | :02:54. | |
markets. There are challenges. We have poor safety record for some | :02:55. | :03:01. | |
airlines, automation issues at some airports. Safety is a big concern | :03:02. | :03:05. | |
for commercial airlines like Boeing. It must be the primary concern, | :03:06. | :03:09. | |
safety. One thing we see from every country in the region is that they | :03:10. | :03:14. | |
are working to improve. We want to be involved to help with that. To | :03:15. | :03:18. | |
your point, we have the FA administrator here for the airshow, | :03:19. | :03:22. | |
talking about some of the things that are going on in civil aviation. | :03:23. | :03:26. | |
We just want to be part of the conversation. The companies want to | :03:27. | :03:30. | |
be part of the solution. The US ambassador to Singapore. | :03:31. | :03:37. | |
In relation to the airshow which begins tomorrow, Indonesian defence | :03:38. | :03:39. | |
officials have pulled out amid a disagreement over the naming of an | :03:40. | :03:45. | |
Indonesian warship. The spat between Singapore and Jakarta is over the | :03:46. | :03:48. | |
decision to name a big frigate after two Marines executed for their | :03:49. | :03:54. | |
involvement in a fatal bombing in an incident in Singapore in the 1960s. | :03:55. | :03:58. | |
Get more information on the Singapore air fought -- airshow from | :03:59. | :04:02. | |
the website including defence spending in Asia. | :04:03. | :04:08. | |
Companies are facing pressure from international rivals as the | :04:09. | :04:09. | |
government encourages more investment by foreign firms. Sectors | :04:10. | :04:15. | |
like retail and aviation are opening up to overseas companies but doing | :04:16. | :04:18. | |
business in India is difficult. We have more from the northern state | :04:19. | :04:23. | |
on how multinational companies are coping. | :04:24. | :04:30. | |
This is the home to some of the most well-known global giants. There are | :04:31. | :04:35. | |
nearly 250 multinational companies here. More and more are setting up. | :04:36. | :04:41. | |
India, with a middle-class the size of the US population, is not a | :04:42. | :04:46. | |
country which most companies can ignore. The country was hailed as | :04:47. | :04:49. | |
one of the most promising growth markets. Unpredictable regulation | :04:50. | :04:55. | |
and bureaucracy along with slower economic growth have shaken the | :04:56. | :04:58. | |
confidence of companies from making big investments here. This company | :04:59. | :05:08. | |
makes industry software to help companies design and manufacture. | :05:09. | :05:12. | |
They have been here for decades but the company says in India, you have | :05:13. | :05:16. | |
got to be prepared for the unexpected. The basic surprise in | :05:17. | :05:21. | |
the market is at the unpredictability. With customers, | :05:22. | :05:25. | |
unpredictable business, unpredictable at the old and the | :05:26. | :05:33. | |
operating environment. You may not be obligatory office because someone | :05:34. | :05:36. | |
has died at the road. With the complicated market, global business | :05:37. | :05:40. | |
comes here and tested people like these. Marketing to specialists, | :05:41. | :05:43. | |
they guide companies through the process. They say that business has | :05:44. | :05:50. | |
grown over 70% in the past year. What is the advice they give their | :05:51. | :05:54. | |
clients? Planning for the longer term is key. Having expectation that | :05:55. | :05:58. | |
it will take time to succeed and not expect results in the early stages. | :05:59. | :06:06. | |
India remains a promising yet challenging market which many are | :06:07. | :06:10. | |
trying to crack. Why must people feel that there is money to be made | :06:11. | :06:14. | |
in India, there are plenty of question marks. The upcoming general | :06:15. | :06:20. | |
elections brings another element of uncertainty. That is not conducive | :06:21. | :06:24. | |
to investment. In other business News, | :06:25. | :06:28. | |
investigations had been launched after the Newsday reported dozens of | :06:29. | :06:34. | |
confidential files related to Berkeley 's bank customers were | :06:35. | :06:36. | |
allegedly stolen and then sold to world brokers. Newspapers said that | :06:37. | :06:42. | |
an anonymous whistleblower handed it a memory stick with personal data | :06:43. | :06:47. | |
from 2000 Berkeley customers. Berkeley 's said it was still | :06:48. | :06:51. | |
investigating the matter. The owners of the Bangladesh Garment factory | :06:52. | :06:57. | |
where 112 workers died two years ago have turned themselves into | :06:58. | :07:02. | |
authorities. The arrest warrants were issued to | :07:03. | :07:05. | |
the pair in December. It is the first time that Bangladesh has | :07:06. | :07:09. | |
sought to profit -- prosecute factory owners in the garment | :07:10. | :07:12. | |
industry which is the world's second-largest after China, a vital | :07:13. | :07:17. | |
part of the Bangladeshi economy. Japan has posted the deficit for | :07:18. | :07:22. | |
December of $6.25 billion, slightly lower than forecast. The second | :07:23. | :07:27. | |
largest economy in Asia is dealing with a weaker yen which had inflated | :07:28. | :07:30. | |
the cost of energy imports. In recent years, Japan has bought | :07:31. | :07:37. | |
fossil fuels to make up for energy lost from closed down nuclear power | :07:38. | :07:40. | |
facilities. Moving to Indonesia, the dispute | :07:41. | :07:44. | |
between the government and the mining industry continues. In the | :07:45. | :07:50. | |
latest move, the plan is to force mining industries to make | :07:51. | :07:52. | |
downpayments towards the cost of building new smelting facilities. | :07:53. | :07:57. | |
The row began in 2009 when the law was passed which required companies | :07:58. | :08:01. | |
to process mineral ores inside Indonesia and allowing only exports | :08:02. | :08:07. | |
of processed minerals. The law was relaxed to a degree but finally | :08:08. | :08:14. | |
implemented last month. A earlier spoke with an expert and are simple | :08:15. | :08:18. | |
or detail on the law and how this is impacting the mining sector. | :08:19. | :08:24. | |
It has been on the cards since 2009. It seemed very confused and ill | :08:25. | :08:33. | |
formulated. In the lead up to the intimidation of this requirement | :08:34. | :08:36. | |
that it be processed on shore, it turns out that the mining Minister | :08:37. | :08:43. | |
was try to ratcheted down bit because... Job losses have very been | :08:44. | :08:48. | |
there because of fluctuation in commodity prices. I relight it is | :08:49. | :08:53. | |
the more of this job reduction as a result of this new law? It depends | :08:54. | :09:01. | |
now on how it moves forward. The miners are trying to negotiate with | :09:02. | :09:08. | |
the government to try to ratchet down. If they can, they will carry | :09:09. | :09:12. | |
on with exports because they have installed. If that happens, jobs are | :09:13. | :09:17. | |
preserved. If exports continue to stall, going forward, we will expect | :09:18. | :09:23. | |
a job losses to persist. It is an election year. We will indeed see a | :09:24. | :09:29. | |
new president come to power. Could he overturned this law to basically | :09:30. | :09:38. | |
appease the mining industry? Not overturn the law. Leading up to | :09:39. | :09:40. | |
elections, there is no way they would do that. After the elections, | :09:41. | :09:46. | |
the President, the new president, will be limited in what he or she | :09:47. | :09:49. | |
could do. They could try to tweak it a little more and appease some of | :09:50. | :09:55. | |
what the mining is -- miners are demanding that the overall plan is | :09:56. | :09:58. | |
to process the mineral or onshore, that is now part of the Indonesian | :09:59. | :10:00. | |
landscape for. -- for miners. A quick look at the markets. Some | :10:01. | :10:07. | |
volatility in some of these markets. The South Korean market is flat at | :10:08. | :10:24. | |
the moment but we are seeing gains for some key markets. | :10:25. | :10:32. | |
Thank you for investing your time with us. Sport today is up next. | :10:33. | :10:41. | |
The top stories this hour: Aid workers in Syria have evacuated more | :10:42. | :10:49. | |
than 600 women, children, and elderly men from the city of | :10:50. | :10:50. |