21/03/2014 Asia Business Report

case review into the death of Daniel Pelka, a four`year`old who was

murdered by his mother and step`father in 2012. Now on BBC News

all the latest business news live from Singapore.

China's currency strategy. And looking outside. Nepal considers

opening up its tourism sector to foreign operators.

Welcome to Asia Business Report. The value of the Chinese yuan has fallen

to its lowest level in almost a year. This follows a move in the

People's Bank of China which widened the trading band to allow it to move

up to 2% from the daily midpoint it set daily. There is speculation that

China's Central Bank. Earlier I spoke to the head of the Asian

currency trading who offered this analysis. I think this is a measure

designed to shake out the massive currency speculators that have been

betting on the currency appreciating. They have Merv to ``

move to an objective which of course is to move towards a domestic led

growth model. To boost growth. So you are saying this is not a

long`term strategy. But what about the volatility? That might cause

trouble, surely. There are some exported in China likely to be hit.

I think it has a shelf life perhaps another two or three weeks and after

that, it will be back to business as usual. I think we'll resume the

appreciation path. As with any autocratic, political regime, they

will be worried about social unrest. If you undermine that currency and

reduce people 's purchasing power in the process, it creates inflation.

That will not go down well and that is something they will want to VoIP

at all cost. We know we asked seeing something of weaker growth going on

in China at the moment. This is after years of massive growth. Could

that potentially have an impact, is this what we are seeing reflected in

the yuan? Her there are many ways to combat slowing growth. Many ways you

can expand fiscal policy. Yes, it is one measure but it is a blunt tool.

I am utterly convinced that they would not use that at all. China's

President will leave for a European Tour this weekend as well as

attending the nuclear Security Summit in The Hague on Sunday. He is

scheduled to visit France, Germany and Belgium. The EU is China's

biggest trading partner. There has been talk that China could be

signing a deal with Airbus with as much as $20 billion to purchase a

passenger jet. Staying with China, the country's largest wheel and gas

reducer and $21 billion for last year. That is a 12% jump from 2012.

In addition to the earnings announcement, the company said it is

cutting capital spending for the second year in a row as it works

towards living shareholder security. It started half a year ago as part

of an anti`corruption drive. China's Internet giant has arrested $250

million. That is a U.S.`based free messaging service. They are hopeful

that buying into the company will help strengthen it presents in the

mobile messaging sector. The deal comes after Facebook announced plans

to acquire What's App from $19 billion. Meanwhile, China Mobile,

the world 's biggest phone company saw a 6% drop in profit. That is the

first declined over ten years. The Beijing `based company raked in $20

billion. China Mobile said the fall was due to higher cost and intends a

petition. The phone company has been spending heavily to roll out fourth

generation services. It is investing around $7 billion to build that

network. Twitter said it is looking into reports that its service has

been banned in Turkey. It has sent out an advisory informing users in

Turkey it was possible to send out tweets using mobile phone text

messaging. We will have more on that on the BBC website. Can you rent out

Paradise? That is what Nepal is considering. They want to lease out

some of the countries Himalayan peaks to private companies in return

for EC. It would open up an visited mountains to attract more climbers.

The majestic beauty of the Himalayas. Some describe this as the

Switzerland of the East. These are all geeks have captivated tourists

for decades. Bringing in much`needed revenue for Nepal. Nepal earned

around $350 million from last year. The second biggest foreign income

earner from abroad. Still, it is not enough for the demands of a growing

population. Now, the government is considering a raft of new measures

to attract more climbers and tourist. Home to eight of the

highest mountains in the world, Nepal has been a paradise for

adventure seekers. Offering them ultimate challenges. Now, it wants

to capitalise on it pristine natural beauty. Apart from these well`known

attractions like Mount Everest, it was to allow private companies to

lease some of the unexplored peaks to boost the tourism industry. It

was to hire out some of the more than 300 Himalayan peaks are

currently open. The government has also announced a sharp cut in

mountaineering fees. TRANSLATION: There are two things. Trackers

coming to Nepal can climb peaks only up to five and a half thousand

metres. Now, they can climb new peaks which are more than 6000

metres. It will definitely increase the number of new tourists and

mountaineers, looking for adventure. We have already received the frozen

from investors to build hotels these mountains. Tour operators have

already welcomed the proposals. With the new strategies, officials hope

to boost revenue. Despite its ambitious targets, Nepal still faces

a number of issues. Not least a lack of adequate infrastructure. It needs

to improve its notorious roads and recent record on safety. Nepal has

natural beauty. The challenges, how to convert it pristine nature into a

must visit tourist destination. Earlier I spoke to Steve Rose. It is

company offers trips to Nepal and he has visited the country several

times. I asked him how this new idea could affect his business. It will

probably have a marginal a fact. It is greatly are opening up new peaks.

That will create a short term demand as people want to do things like

first offence. Ultimately, the relative cost of these peaks for

Nepal is quite high compared to other places like Peru. While I can

see the intention, they are trying to increase volume, it is a good one

and that may have some effect. I don't think it is going to

necessarily give the boost that they are expecting. That is interesting

you say that because, obviously, there is the cost factor. You

suggest those places where people could claim for free but how do you

measure the cost to the environment? That is something Nepal

is taking seriously. You have the environmental concerns and the fact

that tourism development has on that. How do you Alan business and

nature? Her the new initiative, as you suggested that climbers have to

take kilos of rubbish down from Everest is a good one. It has been

in place for a long time but will be enforced more strictly. The rubbish

that exist up their would still be there, having said that, they sent a

group of shoppers to climb Everest in 2010 to reduce the amount of

rubbish on the mountain. In terms of spreading it more broadly, the

owners is very much on the two operators. They should be

responsible in terms of cleaning up after themselves.

Let's take a look at Asian shares because they are taking their cues

from the US where stocks rose on Thursday. That was thanks to

stronger factory activity data which was stronger than expected. All that

helps offset prospects of a rate hike. Asian markets, with the

exception of Japan which is shut for a holiday, they are all rebounding

from their big losses yesterday. That is it for this edition of Asia

Business Report. I'm Mike Embley. The top stories

this hour. Planes and ships off the