Browse content similar to 13/02/2014. Check below for episodes and series from the same categories and more!
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forms the next government. The Scottish government has accused | :00:00. | :00:00. | |
Westminster of bullying and intimidating. Now, time for Asia | :00:00. | :00:19. | |
Business Report. Lenovo beats expectations for its December | :00:20. | :00:25. | |
quarterly earnings. At the Singapore airshow, we get on board an aircraft | :00:26. | :00:46. | |
like no other. We begin with the world's biggest PC maker, Lenovo. | :00:47. | :00:50. | |
Its shares are currently down slightly in early Hong Kong trade | :00:51. | :00:54. | |
despite the company exceeding expectations for its quarterly | :00:55. | :00:59. | |
numbers ending in December and posting record results. It comes in | :01:00. | :01:03. | |
the wake of the company's $5 billion shopping spree to purchase IBM's | :01:04. | :01:10. | |
low-end server business and Motorola mobility from Google. Lenovo really | :01:11. | :01:22. | |
touted its strong earnings period from October to December. Profits | :01:23. | :01:27. | |
were up almost 30%. Revenue across the board is up 15%. 32.6 million | :01:28. | :01:34. | |
units were shipped. That's one every five seconds. The market share | :01:35. | :01:41. | |
figure is 18.5% of the global market. Two of Asia's biggest | :01:42. | :01:52. | |
economies will be announcing their interest rates decisions in a few | :01:53. | :01:55. | |
hours. The central banks of South Korea and Indonesia are expected to | :01:56. | :02:02. | |
keep the cost of borrowing steady. Much attention is being paid to | :02:03. | :02:06. | |
these economies as the US Central Bank looks set to continue winding | :02:07. | :02:08. | |
back its massive stimulus initiative. We explain why the | :02:09. | :02:18. | |
Fed's moves are being felt here. It was not long ago that emerging | :02:19. | :02:21. | |
economies were excited investors. Their growth rate outpaced that of | :02:22. | :02:26. | |
developed economies. In fact, they still do. Developing economies are | :02:27. | :02:37. | |
growing nearly twice as fast as developed economies. Asia is | :02:38. | :02:40. | |
predicted to grow at 6%, China at over 7%. Compare that to the US at | :02:41. | :02:47. | |
around 3%. Why are some investors leaving the emerging markets? The | :02:48. | :02:53. | |
main reason is there is a big downside risk to that growth. Some | :02:54. | :02:57. | |
emerging economies have grown accustomed to plentiful cash. They | :02:58. | :03:02. | |
have large external deficits. After all, the Fed has been injecting cash | :03:03. | :03:09. | |
for the past five years. But now, it's winding down. And that is why | :03:10. | :03:13. | |
some countries have raised rates to attract investors with higher | :03:14. | :03:17. | |
returns. The problem there is that it hurts gross but they worry that | :03:18. | :03:22. | |
if they don't act, they risk a crisis if the cash dries up -- it | :03:23. | :03:31. | |
hurts gross. Emerging economies have huge potential. Just look at their | :03:32. | :03:35. | |
large populations. But they are more volatile economic re- and | :03:36. | :03:39. | |
politically. Only 17 countries have grown well enough to become rich in | :03:40. | :03:45. | |
the entire past 50 years. That gives us a sense as to why it has always | :03:46. | :03:52. | |
been risky to invest in them. With the US and Europe recovering, | :03:53. | :03:54. | |
investors are reconsidering where to spread their cash. Earlier, I spoke | :03:55. | :04:02. | |
with a senior economist from Barclays Bank. What is the outlook | :04:03. | :04:07. | |
for emerging countries globally and in Asia? It has been a challenging | :04:08. | :04:12. | |
beginning of the year to the emerging markets in Asia. The | :04:13. | :04:22. | |
interesting thing is that from the beginning of the year, these | :04:23. | :04:30. | |
countries have outperformed in -- as consensus trades have come under | :04:31. | :04:36. | |
pressure. Has the volatility in the regional economy stabilised? There | :04:37. | :04:42. | |
has been some stabilisation. It is worth saying, however, that over the | :04:43. | :04:48. | |
next you months, we will get regular about of emerging market stress. | :04:49. | :04:53. | |
It's important for investors to be very nimble in their positions. What | :04:54. | :04:59. | |
are the positives amid all of this stress happening to the Asian | :05:00. | :05:05. | |
emerging economies? Globally, the manufacturing cycle continues to | :05:06. | :05:10. | |
improve. The US still has strength within its economy and that is | :05:11. | :05:14. | |
benefiting countries like the North Asian countries like South Korea, | :05:15. | :05:19. | |
which is very much gaining from the manufacturing cycle, especially in | :05:20. | :05:27. | |
the field of electronics. China and South Korea are less vulnerable in | :05:28. | :05:32. | |
an environment with concerns around emerging markets. Thank you. The | :05:33. | :05:40. | |
South Korean central bank has just released its monetary policy | :05:41. | :05:45. | |
decision. According to its governor, it was a unanimous vote to keep | :05:46. | :05:51. | |
interest rates unchanged at 2.5%. In Myanmar, more than two thirds of the | :05:52. | :05:58. | |
population live without electricity. As the country opens up | :05:59. | :06:03. | |
to international investments, basic facilities and infrastructure are | :06:04. | :06:09. | |
the highest concern. A US -based energy supplier has now struck a | :06:10. | :06:12. | |
deal with the Myanmar government. APR will bring electricity to 6 | :06:13. | :06:17. | |
million people. Earlier, I spoke with the company's head of business | :06:18. | :06:23. | |
development in the Asia-Pacific. I asked when his company's project | :06:24. | :06:25. | |
would start delivering actual power. We are doing fast track | :06:26. | :06:33. | |
power. We build large-scale, fast track power plants in three months | :06:34. | :06:37. | |
or less. This power plant is already under construction and it will | :06:38. | :06:41. | |
deliver power to the people of Myanmar by the end of the month. -- | :06:42. | :06:47. | |
the end of next month. How many households and how many people will | :06:48. | :06:53. | |
get reach? 6 million people. It's one of the largest and it will be | :06:54. | :06:56. | |
one of the cleanest and most efficient power plant in Myanmar. | :06:57. | :07:01. | |
The price is competitive with other power plants in Myanmar. It will use | :07:02. | :07:05. | |
Indigenous fuel from the country and it will be built in three months | :07:06. | :07:13. | |
time. -- it will use local fuel. How much was this deal worth and how | :07:14. | :07:22. | |
much of your company is investing in Myanmar? I can say this is a | :07:23. | :07:27. | |
substantial investment. It's one of the largest investment in an | :07:28. | :07:30. | |
American company in Myanmar for a long time. This is the first | :07:31. | :07:34. | |
American power contract with Myanmar for many years and this is the | :07:35. | :07:38. | |
beginning of, we hope, a number of investments in the country. At the | :07:39. | :07:45. | |
Singapore Air Show, airline manufacturers are keen to tap into | :07:46. | :07:52. | |
the growing defence market in Asia. Del Helicopters has its unique V-22 | :07:53. | :08:02. | |
Osprey aircraft on display. -- Bell Helicopters. Saving lives in times | :08:03. | :08:11. | |
of distress. The V-22 Osprey played a key role in rescue and relief | :08:12. | :08:15. | |
operations after Typhoon Haiyan struck the Philippines last year. | :08:16. | :08:19. | |
Bell Helicopters, the maker of the aircraft, has now brought in to the | :08:20. | :08:23. | |
Singapore Air Show four countries other than the US to take a closer | :08:24. | :08:28. | |
look at it and see if they would like to buy the plane. I got the | :08:29. | :08:32. | |
opportunity to experience its capabilities firsthand. What makes | :08:33. | :08:38. | |
the V-22 Osprey unique is the fact that it combines the capability of a | :08:39. | :08:42. | |
helicopter with that of a traditional plain. The helicopter | :08:43. | :08:45. | |
aspect allows it to take off vertically. It can take off at a | :08:46. | :08:53. | |
rate of 5000 feet per minute, ten times what you could do in a civil | :08:54. | :08:58. | |
aeroplane. The traditional aeroplane aspect allows it to achieve speeds | :08:59. | :09:04. | |
faster than what a helicopter can. But the V-22 Osprey is not just | :09:05. | :09:06. | |
about combining the two capabilities. One of the pilots who | :09:07. | :09:11. | |
flew one to the Philippines says that high-end technology on board | :09:12. | :09:14. | |
gives it the advantage over other aircraft. It has weather radar | :09:15. | :09:22. | |
capabilities. In the operation where we went to the Philippines for | :09:23. | :09:24. | |
Typhoon Haiyan relief, we were able to navigate through the weather to | :09:25. | :09:29. | |
provide relief into some of the outlying islands that some of the | :09:30. | :09:32. | |
other aircraft may not have been able to navigate through. However, | :09:33. | :09:37. | |
it is only the Americans who use these. They have bought more than | :09:38. | :09:41. | |
270 of them and have ordered another 100. Bell Helicopters says it is | :09:42. | :09:48. | |
ready to sell them abroad. We are looking at lots of different | :09:49. | :09:54. | |
countries. We have around one dozen countries here to see the V-22 | :09:55. | :09:57. | |
Osprey and we expect interest to increase dramatically. It does not | :09:58. | :10:04. | |
come cheap. It costs nearly $90 million to buy one and that is | :10:05. | :10:09. | |
before maintenance and training. There are only a limited number of | :10:10. | :10:16. | |
countries that will be able to afford that. And we will continue to | :10:17. | :10:21. | |
bring you the latest from the Singapore Air Show. We have also all | :10:22. | :10:26. | |
the latest information on our website. Today, we are looking at | :10:27. | :10:31. | |
the race to become the world's best airport. Thank you for joining us. | :10:32. | :10:44. | |
The headlines: Much of Britain is still experiencing some of its worst | :10:45. | :10:48. | |
weather in years, with high winds driving rain and widespread | :10:49. | :10:49. |