25/03/2014 Asia Business Report

election. Now on BBC News, all the latest

business news, live from Singapore. Hope turns to tragedy for the

relatives of the missing Malaysian airline passengers. How technology

is helping solve the mystery. And as protest in Taiwan and the second

week, we ask how that will affect foreign investments. `` into the

second week. Welcome to Asia Business Report. As

we have been reporting, the Malaysian Prime Minister has

announced that the missing flight MH370 crashed in the southern Indian

Ocean. It is a devastating turn for relatives, who have been holding on

to hope that their loved ones are still alive. This follows

information based on analysis from a British satellite company, by

comparing data from previous data from other flights. It is said to

have travelled south. We spoke to the team that helped solve the

mystery, about where the plane may have ended up. We originated as

theory based on a series of. We sent those to the investigation. We have

been looking at those pings and whether we can add anything more. We

took the Malaysian aircraft dater, modelled that and put that against

the northern and southern path. `` data. The path to the south is

undoubtedly the one taken. Why haven't you come up with this

before? Why has it taken so long? We have been dealing with a totally new

area. We have been trying to help an investigation based on a signal once

every hour from an aircraft that didn't include any GPS data. So,

this was really a shot in the dark. To the credit of our scientific

team, they managed to model this. They found a way a single ping can

be used to find out that it was travelling at powered up and they

then compared these two are the node flights and established it went

south. Is this it or can you pinpoint further where it went? We

can't get any closer dater. If aircraft were able to report their

position, we could tell you in an instant. `` data. It will frighten a

lot of people, that an aircraft can go missing like this. Any aircraft

can burst off SMS text like messages that give you time, speed, distance

and position. That can be done now. It is a wonder that it hasn't been

done five years after the Air France loss. Industry is slow`moving. It

needs to evolve with technologies that are already established on

long`range identification and tracking for ships at sea. It's

inconceivable they wouldn't now report their position every six.

Surely an aircraft flying at over 400 knots should be providing their

position every 15 minutes and that can be done at $1 an hour. A British

company has been at the forefront of helping to find this aircraft. You

must have mixed feelings about that? Yes, we are very sad for the

families who have lost loved ones. We are also pleased that it appears

we have made a useful contribution and actually it has formed part of

our 34 years of applying the global maritime distress service. Safety is

part of our DNA. We are always pleased when we have indicated that.

Recesses in Taiwan are keeping up pressure over concerns over a press

`` proposed trade deal with China. Some protesters have had to be

forced from the office. They want the trade deal to be scrapped but

the president insists Taiwan risks being marginalised without it. I ask

whether the protest would put the agreement in jeopardy. It is very

likely the gratification of the agreement will be delayed. We don't

know how long it will be delayed for. Eventually they will need to be

some kind of compromise between protesters and legislators and the

president. That kind of compromise will probably involve a more

detailed review. What could be the middle ground? Are their indications

that the Taiwanese government will not back down? It won't back down.

This trade agreement is crucial politically to the president. It's

part of his platform of relations with minor. It's also part of his of

showing that Taiwan should be a participant in other regional trade

negotiations. Could this impact China ` Taiwan relations or do the

Chinese not care? The Chinese certainly care. A watch Taiwanese

domestic politics closely, for its impact on trade relations. China

will be very disappointed in the president. What about you doing

business in Taiwan? How does the trade deal impact your business?

Will you benefit or not? Well, most service providers will stand to

benefit. One of Taiwan's selling points is it is close to China. But

it has stronger cultural affinity with China, than Hong Kong. People I

used to doing business with China. For multinational investors,

anything in Taiwan that facilitates closer ties with China is usually a

positive. If there are going to be barriers, like with career that is

negotiating a trade agreement with China. It is basically a win`win

situation for local businesses and foreign businesses, doing business

in Taiwan, if this trade deal pushes through? Absolutely. There is a

perception by some in Taiwan, including protesters, that it moves

Taiwan closer `` too close to China, which could result in job losses.

Whether that's true remains to be seen. In other business news, Russia

says it expects investors to move out up to $70 billion worth of

assets from the country in the first three months of this year. A sign

that investors are becoming nervous amid sanctions over Ukraine. There

are also warnings of stagnant growth and rising inflation. The head of

Europe's policy agency has warned that virtual currencies like bitcoin

are being used for money laundering and has called for more powers to

tackle the problem. It comes as an American group created the legal

framework for buying and selling swaps went to bitcoin. Five former

employees of an investment banker have been found guilty of helping

him to run the biggest scheme in recent history. He was sentenced to

150 years in jail for years go for masterminding the 17.5 in dollars

scheme. `` 17 $.5 billion scheme. The New Zealand entrepreneur facing

copyright charges has announced plans to go public. Quim. On is

seeking to lift his online storage company by a reverse takeover. ``

Kim Dotcom. He resigned to focus on fighting action edition charges. His

wife owns 26.5% of the company. Internet has become a crucial part

our everyday lives are very few of us will everything about the

technical rules which govern it. That's a good thing, according to

the people who write those rules. But the US government is phasing out

its control of the nonprofit organisations that oversees how

computers across the world are used to. If all goes to plan, internet

users won't notice any difference. That's according to the president.

The US has made a very momentous and important and courageous decision.

We are embracing it. We meet in Singapore to come together and start

planning the calm transition to global multi` stakeholder oversight.

But if this transition doesn't go according to plan, what kind of

repercussions could this have for the world wide web? For internet

users like you and I and everyone else watching us? The US is very

clear that unless we come back as a community, with a plan that meets

basic requirements to ensure the security and stability and

resilience of the technical infrastructure that we co`ordinate

that underpins the whole internet, there will not change their

oversight plan. There is no danger. It is under control. What we have to

do is respond with a proposal and we can move from that oversight model

to a global oversight model. Who will be accountable? Who can they

report to, if not the US? We are designing the accountability

mechanisms now. These are review mechanisms, recourse mechanisms,

that will be managed by the community, the private sector, this

is, government and civil society together. Let's have a look at the

markets. Asian share prices are in negative territory in mid`morning

trade after US and it is tumbled overnight over you `` over

escalating tension in Ukraine. Investors still uncertain as to

whether China will move to shore up economic growth. Japan, Hong Kong

and South Korea are all in the loss column. Thanks for investing your

time with us. This is BBC News. The headlines: Some of the Chinese

relatives of passengers presumed killed in the missing airliner have

accused Malaysian authorities of causing their loved ones depths.

The search of the wreckage has been suspended because of bad weather. ``

the deaths.