Browse content similar to 14/03/2014. Check below for episodes and series from the same categories and more!
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four passengers onboard were killed. Now on BBC News all the latest | :00:00. | :00:00. | |
business news live from Singapore. As India gears up for elections, the | :00:00. | :00:25. | |
government seeks to tame inflation. Crisis communications - Malaysia has | :00:26. | :00:29. | |
come under fire for how it has released information about the | :00:30. | :00:30. | |
missing flight. We begin in India where the country | :00:31. | :00:41. | |
is weeks away from national elections. As with past polls, the | :00:42. | :00:47. | |
economy is set to play a key role in the government is under pressure to | :00:48. | :00:51. | |
make sure that growth is on track. Later today we get the indications | :00:52. | :00:58. | |
on cost of living when the February inflation figures RLS. The data will | :00:59. | :01:06. | |
be closely watched. It is much cheaper to buy food in | :01:07. | :01:11. | |
India now that it was in late 2013. That is the main reason why | :01:12. | :01:14. | |
inflation has come down substantially. The latest data | :01:15. | :01:18. | |
showed that consumer price inflation based on a basket of goods was its | :01:19. | :01:24. | |
lowest level in two years. The wholesale price index, the number | :01:25. | :01:31. | |
that India considers the main indicator of inflation, is thought | :01:32. | :01:36. | |
to have fallen to under 5%. For most of last year food prices were high. | :01:37. | :01:40. | |
Some vegetables cost triple what they normally do. What we see now is | :01:41. | :01:46. | |
mainly due to favourable weather conditions and a good harvest rather | :01:47. | :01:50. | |
than government intervention. The current leadership is likely to hope | :01:51. | :01:53. | |
that this will benefit them in the upcoming elections. For many on the | :01:54. | :01:57. | |
street the cost of living is a big factor when it comes to deciding who | :01:58. | :02:02. | |
to vote for. But there is a worry that this dip is only temporary and | :02:03. | :02:09. | |
that prices might shoot up. The central Bank has raised interest | :02:10. | :02:12. | |
rates three times to try and hold inflation down. Many believe that | :02:13. | :02:17. | |
inflation levels will depend on economic policy measures taken by | :02:18. | :02:20. | |
whichever government comes to, in the long-term. | :02:21. | :02:27. | |
It has been nearly a week since a Malaysia Airlines plane disappeared | :02:28. | :02:33. | |
while en route to Beijing. A rescue effort has been under way but there | :02:34. | :02:37. | |
has been no sign of any wreckage so far, leaving the world with few | :02:38. | :02:43. | |
answers and a lot of questions. In Kuala Lumpur were, authorities have | :02:44. | :02:46. | |
been holding daily news conferences but have recently come under heavy | :02:47. | :02:50. | |
criticism for their handling of the crisis. Earlier I spoke to two | :02:51. | :03:01. | |
aviation experts. It is a difficult crisis but -- and are not a normal | :03:02. | :03:04. | |
type of accident. But these things have happened before and there | :03:05. | :03:10. | |
should not have been such a state of confusion or lack of co-ordination. | :03:11. | :03:15. | |
Information is key for families because of them time has stopped. | :03:16. | :03:18. | |
There is no going forward and certainly no going back. The best | :03:19. | :03:22. | |
that the Malaysia government and Malaysia Airlines could have done in | :03:23. | :03:28. | |
this incident is not make it worse. Unfortunately they have made it | :03:29. | :03:32. | |
worse. They will ever regain the trust and confidence of the | :03:33. | :03:36. | |
families. Other accidents have happened and we do not find them for | :03:37. | :03:41. | |
72 days or longer. The earth is a big place. Could anybody have done | :03:42. | :03:49. | |
better? I expect that governments and airlines have done better and | :03:50. | :03:53. | |
could do better. You don't like kicking people when they are down | :03:54. | :03:59. | |
but it is frustrating and I am sure horribly frustrating for family | :04:00. | :04:05. | |
members who have two go to the media to get information and get their | :04:06. | :04:09. | |
hopes raised and then be told it is incorrect. It is the lack of | :04:10. | :04:15. | |
consistency and it makes everyone wonder - who do you believe? That | :04:16. | :04:21. | |
should be the airline and the government. It is a simple case of | :04:22. | :04:28. | |
too many cooks in the broth. You have the Malaysia in government, the | :04:29. | :04:34. | |
defence Minister, Malaysia Airlines clarifying rumours, and did not have | :04:35. | :04:39. | |
anyone to look for for the facts rather than corrections of rumours. | :04:40. | :04:44. | |
Then there is the situation of 56 vessels from seven or ten different | :04:45. | :04:50. | |
countries co-ordinating the effort. There is a lack of leadership. There | :04:51. | :04:54. | |
needs to be one source of information. We advise airlines in | :04:55. | :05:00. | |
these situations that customers are looking for one point of information | :05:01. | :05:04. | |
and for facts. Rather than releasing lots of information from lots of | :05:05. | :05:09. | |
sources, just point to one source. Then you do not have an air force | :05:10. | :05:15. | |
chief making a statement and then retracting it. Perhaps it can all | :05:16. | :05:25. | |
come from the airline CEO. In other business News, General Electric's | :05:26. | :05:30. | |
credit card unit is looking to raise $100 billion through an IPO in the | :05:31. | :05:34. | |
US. The move is part of plans to spin off the retail finance business | :05:35. | :05:39. | |
with -- which some estimate it could be worth $18 billion. McDonald's is | :05:40. | :05:46. | |
being sued by workers in three US states for stealing wages. The fast | :05:47. | :05:51. | |
food giant is facing seven class action lawsuits in New York, | :05:52. | :05:55. | |
California, and Michigan. The workers claim they were forced to | :05:56. | :05:57. | |
work off the clock and not paid overtime. McDonald say it is | :05:58. | :06:01. | |
committed to fair treatment of employees. Singapore is set to | :06:02. | :06:07. | |
become the second country in the world after the US to regulate | :06:08. | :06:12. | |
virtual currencies such as Bitcoins. Under a new proposal, middle man | :06:13. | :06:17. | |
like virtual currency exchanges will need to verify the identity is of | :06:18. | :06:22. | |
customers and restored suspicious transactions. The move is meant to | :06:23. | :06:28. | |
at -- meant to address money and terrorism concerns. We spoke to an | :06:29. | :06:40. | |
analyst at about the situation. Given the timing of the statement it | :06:41. | :06:49. | |
has to do with the release of the ATM network data here and a | :06:50. | :06:53. | |
concerned about money laundering. About the statement, it looks like a | :06:54. | :06:56. | |
positive note because it means that the government is looking at the | :06:57. | :07:01. | |
growth curve that Bitcoins is taking, looking out over the next | :07:02. | :07:05. | |
year or two and seeing that adoption which will continue. We know that | :07:06. | :07:09. | |
many countries have banned the currency. You would be one of these | :07:10. | :07:16. | |
middlemen that the authority would look to the potentially report | :07:17. | :07:19. | |
suspicious activity. What would prompt you to report to them? I | :07:20. | :07:23. | |
would have to read the guidelines first. As a member of the community | :07:24. | :07:31. | |
here, if I knew of any suspicion activities or Corel activities I | :07:32. | :07:33. | |
would naturally report them to the police. Most of the exchanges here | :07:34. | :07:39. | |
are already doing proper due diligence. I require that people | :07:40. | :07:43. | |
send money via the eye bank in system. We are self regulating very | :07:44. | :07:54. | |
well. I see very little new in this statement or anything that will | :07:55. | :08:02. | |
change our operations. If you're employed big corporation and they | :08:03. | :08:05. | |
send you a broad for work that transition is often helped by a | :08:06. | :08:09. | |
relocation package. This can involve subsidised housing, flights home, | :08:10. | :08:16. | |
and other things but now Panasonic is offering staff moving to China a | :08:17. | :08:22. | |
payment to help cope with the notorious smog in the country. | :08:23. | :08:29. | |
A thick smog hangs over the streets of Beijing, making it difficult to | :08:30. | :08:33. | |
see and more difficult to breathe. Pollution is the price China pays | :08:34. | :08:37. | |
for the economic growth of the past decade. It is the result of rapid | :08:38. | :08:41. | |
industrialisation and the burning of millions of tonnes of coal every | :08:42. | :08:45. | |
year. Now the Japanese electronics firm Panasonic says it will pay its | :08:46. | :08:51. | |
foreign workers in China next dash of pollution premium to compensate | :08:52. | :08:57. | |
for the poor air quality. It is not unusual for funds to pay staff more | :08:58. | :09:01. | |
when they work overseas, especially if they go to dangerous or | :09:02. | :09:04. | |
uncomfortable places. In the oil industry for example employees get a | :09:05. | :09:10. | |
premium for working offshore. This is the first time a company has paid | :09:11. | :09:15. | |
workers in China extra for having to breathe smog. It is a first from our | :09:16. | :09:22. | |
perspective but it will be taken up by other companies. It is specified | :09:23. | :09:27. | |
as an air pollution allowance rather than being bundled into a hardship | :09:28. | :09:34. | |
premium. It is part of a wider drive by organisations to be transparent | :09:35. | :09:39. | |
about the allowances they give to expatriates. As the annual National | :09:40. | :09:51. | |
People's Congress drew to a close, the country 's Premier admitted the | :09:52. | :09:56. | |
economic model was unsustainable. TRANSLATION: Our existing | :09:57. | :10:02. | |
difficulties and problems are on our mind. We will confront serious | :10:03. | :10:05. | |
challenges and some challenges may be even more complex. We need steady | :10:06. | :10:12. | |
growth, employment, prevent inflation and defuse risks. Beijing | :10:13. | :10:17. | |
faces the challenge of trying to maintain rapid economic growth by | :10:18. | :10:21. | |
the same time encouraging businesses to clean up their act. | :10:22. | :10:27. |