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never been broadcast before. Now on BBC News all the latest | :00:00. | :00:15. | |
business news live from Singapore. China signs over $400 billion gas | :00:16. | :00:19. | |
deal with Russia after a decade of talks. Singapore is ranked the world | :00:20. | :00:25. | |
's best place to do business for its sixth year. Thank you for joining | :00:26. | :00:36. | |
us. The Russian President Vladimir Putin was in Shanghai to witness a | :00:37. | :00:41. | |
landmark deal that will see Russia supplied China with natural gas for | :00:42. | :00:46. | |
30 years. It marks a political triumph for Vladimir Putin who faces | :00:47. | :00:49. | |
economic isolation in the West because of his actions in Ukraine. | :00:50. | :00:54. | |
What exactly brought about this last`minute deal? Earlier I post but | :00:55. | :01:02. | |
question to an energy expert from the University of Singapore. Russia | :01:03. | :01:06. | |
has gas to sell, and it needs those dollars. China needs gas. Both sides | :01:07. | :01:12. | |
have won overall. Until we know the price and how much China has to pay | :01:13. | :01:16. | |
up front, we cannot say who was the winner. As of yesterday, when you | :01:17. | :01:20. | |
were on the programme, there was no certainty as to whether a deal would | :01:21. | :01:27. | |
be sealed, and it was only signed and delivered early evening Asia | :01:28. | :01:35. | |
time. Could the deal have been, let's sign now, discuss price | :01:36. | :01:40. | |
later? It looks that way, pricing is not something you can finalise in | :01:41. | :01:44. | |
two or three hours. Maybe they agreed a price at the last minute, | :01:45. | :01:49. | |
regardless of commercial considerations, or the president | :01:50. | :01:53. | |
stood in and said, we have a deal, sort out the details later. | :01:54. | :01:56. | |
Currently, no one knows. What does this agreement mean for the Chinese? | :01:57. | :02:02. | |
It gives the Chinese in five years time and additional supply of gas | :02:03. | :02:07. | |
which, at that time, will account for maybe 20% of their total | :02:08. | :02:13. | |
consumption. It is good for them, and helps their energy consumption | :02:14. | :02:16. | |
and will tackle the serious pollution problem. For the | :02:17. | :02:21. | |
Russians? For the Russians, it gives them the money to develop the far | :02:22. | :02:26. | |
Eastern gas fields which will support local developments and means | :02:27. | :02:29. | |
they have new customers for their gas which, if Europe starts to turn | :02:30. | :02:36. | |
away from Russia, works. These relations between the Chinese and | :02:37. | :02:41. | |
the Russians, what does it mean for the geopolitical system? Going on in | :02:42. | :02:50. | |
Asia now? I would not read too much into that. There has been an oil | :02:51. | :02:55. | |
pipeline for nearly ten years running between both countries. It | :02:56. | :02:58. | |
is a fairly pragmatic relationship, although they do share certain | :02:59. | :03:07. | |
strategic concerns. Singapore is the best place in the | :03:08. | :03:11. | |
world to do business, that is according to the latest survey by | :03:12. | :03:16. | |
the Economist intelligence unit. It sees the city retain its number one | :03:17. | :03:21. | |
spot as I am inventor `` as an investor friendly location. It looks | :03:22. | :03:29. | |
at a number of indicators, including political stability and corporate | :03:30. | :03:38. | |
tax rates. The cost of living and practical | :03:39. | :03:49. | |
costs attract Singapore as a place for foreign companies to invest. | :03:50. | :03:56. | |
However, it is not only about costs. When you think of the business | :03:57. | :03:59. | |
environment, it is also about how easy it is to do business and what | :04:00. | :04:01. | |
the quality of the business environment is. When we measure | :04:02. | :04:05. | |
this, we look at ten different aspects of the business | :04:06. | :04:08. | |
environment, ranging from political stability, through commercial laws | :04:09. | :04:14. | |
and competition policy, all the way to the labour market and | :04:15. | :04:18. | |
infrastructure and taxation. With Singapore, the cost is a constraint, | :04:19. | :04:26. | |
but in other areas, it performs. In other business news making | :04:27. | :04:29. | |
headlines, the US central bank has started discussing ways to exit | :04:30. | :04:35. | |
their massive stimulus policy, to save it from a record low. According | :04:36. | :04:40. | |
to the April minutes, they are exploring tools they could use to | :04:41. | :04:44. | |
return the policy to normal by next year. The Fed has spent more than | :04:45. | :04:49. | |
four daily `` $4 billion on purchases over the last five years | :04:50. | :04:54. | |
to support the economy. EBay is asking its users to change as | :04:55. | :04:58. | |
passwords after the company was hit by a cyber attack. The e`commerce | :04:59. | :05:03. | |
giant said that the database containing personal information was | :05:04. | :05:09. | |
compromised. It says no credit card information or financial information | :05:10. | :05:14. | |
was stolen. JD .com has raised billions of dollars. The demand | :05:15. | :05:21. | |
exceeded expectations with shares being priced at $19 per share at its | :05:22. | :05:32. | |
debut on the technology heavy index. Shares have risen after the firm | :05:33. | :05:41. | |
posted a 29% jump in profits, Lenovo have been making efforts to diverse | :05:42. | :05:45. | |
away from the PC business. They bought motorail from Google for just | :05:46. | :05:52. | |
under $3 billion. Will those bets pay off? `` Motorola. Looking at | :05:53. | :06:04. | |
these numbers, it seems that smartphone sales are the name of the | :06:05. | :06:11. | |
game. It is, they need to play into all of these markets. With mobile | :06:12. | :06:16. | |
phones and tablets, to have a holistic strategy. How can motorail | :06:17. | :06:24. | |
help? To help the business going forward `` Motorola. What Motorola | :06:25. | :06:29. | |
brings to the table for them is a lot of batons that Motorola has in | :06:30. | :06:32. | |
the telecom space. That can help them. They can work on their | :06:33. | :06:38. | |
business. Motorola is a strong brand in the US market. Will it help them, | :06:39. | :06:43. | |
basically, to narrow the gap at the top? With Samsung and Apple? I | :06:44. | :06:46. | |
cannot say that right away they can narrow that gap, but it can help | :06:47. | :06:52. | |
them get a bigger player in the market, with Motorola, the brand in | :06:53. | :06:57. | |
the US. What about the personal computer business? How has Lenovo | :06:58. | :07:04. | |
been successful in that declining market over the last two years? They | :07:05. | :07:11. | |
have the supplied chain discipline to drive these high volume and low | :07:12. | :07:16. | |
margin businesses, it has helped them to grow successfully in this | :07:17. | :07:20. | |
market space, when a lot of them does have been struggling. Everyone | :07:21. | :07:26. | |
has spoken about personal computers and tablets, smart phones, but the | :07:27. | :07:33. | |
enterprise business has basically included storage and server | :07:34. | :07:41. | |
business. How can Lenovo get through this business? The acquisition of | :07:42. | :07:48. | |
these new businesses gives Lenovo the capability to expand into the | :07:49. | :07:52. | |
server business outside of China. They have always had a server | :07:53. | :07:56. | |
business in China, and have been pretty successful, but it can help | :07:57. | :08:00. | |
them get access to enterprise customers outside of China. Thank | :08:01. | :08:08. | |
you for your insights. Just over six months and is | :08:09. | :08:12. | |
experiencing one of the world 's worst ever typhoons, the Philippines | :08:13. | :08:18. | |
continues to expand at a fast pace. Growth rates in 2012 and 2013 are | :08:19. | :08:22. | |
the quickest since the 1950s, how can that be after it was struck by | :08:23. | :08:27. | |
such a devastating natural disasters so recently? Our correspondent | :08:28. | :08:31. | |
explains. Six months ago, the Philippines was struck by one of the | :08:32. | :08:35. | |
worst national disasters to hit land. | :08:36. | :08:39. | |
The typhoon caused a massive loss of life and had a huge impact on the | :08:40. | :08:43. | |
economy. It is estimated to cut the economic growth of the entire | :08:44. | :08:47. | |
country by a huge one percentage point. But, the Philippines is still | :08:48. | :08:55. | |
forecast to grow at 6.5% which would be the fastest in Asia except for | :08:56. | :09:02. | |
China. How can that be? This outcome is due to reconstruction, rebuilding | :09:03. | :09:11. | |
homes, and could add 3.5% GDP, that is from only what the government | :09:12. | :09:16. | |
spends. The damage from the typhoon will be felt, especially towards the | :09:17. | :09:19. | |
front of the year. But, with the offset from the government and | :09:20. | :09:24. | |
driving reconstruction, the government `` the economy as a whole | :09:25. | :09:28. | |
is expected to recover by the end of the year. Headline GDP figures will | :09:29. | :09:34. | |
reassure businesses that the economy will be all right. But for those who | :09:35. | :09:40. | |
have lost their homes and their livelihoods, rebuilding will not be | :09:41. | :09:45. | |
easy when they do not have private insurance. For them, it does not | :09:46. | :09:49. | |
matter what the big headline figures are but rather how quickly the | :09:50. | :09:54. | |
growth can translate into means with which they can reconstruct their | :09:55. | :09:59. | |
lives. For more stories from the | :10:00. | :10:03. | |
Philippines, make sure you log on to the BBC website where we have a page | :10:04. | :10:07. | |
dedicated to its people, and culture. Let's have a look at the | :10:08. | :10:16. | |
Asian markets. All of the stocks are in positive territory after US | :10:17. | :10:20. | |
equities bounced back from a previous sell`off. The I'm Mike | :10:21. | :10:44. | |
Embley, the headlines: A man has been arrested in the United States | :10:45. | :10:47. | |
after a woman, who says she was kidnapped a decade ago as a | :10:48. | :10:50. | |
teenager, is found safe and well in California. Boko Haram militants in | :10:51. | :10:53. | |
Nigeria are accused of killing at least 27 people, it comes after 122 | :10:54. | :10:57. | |
people died in two explosion in the city of Jos on Tuesday. The Home | :10:58. | :10:59. | |
Secretary Theresa May has | :11:00. | :11:00. |