03/06/2014 Asia Business Report


03/06/2014

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she found out he had an affair with one of her friends.

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Now on BBC News, all the latest business news from Singapore with

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Asia Business Report. Stealing on the high seas. The

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growing problem of piracy in South East Asia and what is being done to

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try to stop it. From the land of promise to the land of uncertainty.

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What are the prospects for mining in Mongolia? Welcome to the programme.

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Pirates have released an Indonesian bound Thailand tanker after stealing

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its entire cargo of oil in the latest attack by pirates in

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south`east Asian waters so far this year. There have been 72 reported

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cases globally. More than 60 of them were in Asia, mostly South East

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Asia. While many of the cases were mostly minor, last month, there were

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two more cases where pirates suspect `` successfully stole fuel. What

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does this mean for businesses relying on safe shipping routes? The

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rise in cases in the region is a concern. In the last two months,

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there have been about three cases of cargo fuel being targeted. And this

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has happened in the past. It is just that these past two months, the

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cases have been happening quite close to each other. In this most

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recent incident, the crew were safe after the pirates siphoned the fuel.

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Who are behind these pirates? Is this individual opportunism? Is this

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organised? There are indications suggesting that it is not an

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opportunistic group that is involved. In a recent case last

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month, the pirates actually left after siphoning the cargo fuel

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together with three crew members who took their belongings and travel

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documents with them. In that case, there is cause to suspect that

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inside information was involved and some kind of organisation has

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occurred. Insider jobs. And syndicates working behind these

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pirates. How much of this is a threat to businesses in Asia,

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particularly in South East Asia? The majority of the cases in South East

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Asia are cases of petty theft. Many of these cases have occurred at

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ports and anchorages. Cases of such siphoning are few and the

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authorities and the industry are working very closely to prevent such

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cases from happening again. Thank you.

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Fresh business news just in. New data from mainland China shows

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growth in the services vector rose to a six`month high in the month of

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May. `` services sector. The news comes just days after Beijing

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reported growth in the manufacturing sector expanded at its fastest pace

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in five months. This will help allay fears of a slowdown in the Chinese

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economy. An unprecedented global police operation has stopped a cyber

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gang suspected of targeting 250,000 computers. Authorities have taken

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control of a network of hijacked computers thought to have been used

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to steal personal and financial data from victims. Users have been warned

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they have two weeks to protect themselves against a powerful

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attack. Apple is moving into the growing digital health market with

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the new acquisition of an app that will help users document their

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health. It failed to excite investors, however, with sales

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falling slightly on these fresh announcements. But there is a vase

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around the first day of Asia's biggest computer and technology show

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`` buzz. Tens of thousands of international buyers are expected to

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attend. There is a lot of pressure on companies to innovate. With a

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futuristic touch, computer makers this year unveiled their latest

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products. PC sales have declined sharply over the last few years and

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computer makers have fought back by offering their own versions of

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tablets, smartphones and so`called two in one devices. And they are

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trying to anticipate your every need. For this 3`D motion sensor, it

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has just captured me falling and sent an instant message to the

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smartphone. The point of this technology is that if I were to have

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an elderly parent living at home alone and she has just fallen over,

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I would be instantly notified. This is one of an increasing number of

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devices connected to the internet as part of a trend called the internet

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of things. Computer makers are trying to catch on to this trend.

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They are making products smarter, like this vacuum cleaner you can

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command, using your smartphone. Or wearable medical devices that

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measure your vital signs and store the information online so you can

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share it with your doctor later. Or this camera that lets you see and

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record what is going on at home. Industry leaders say there is much

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room for growth, as 85% of the devices people use today are not

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connected. They expect that by 2020, the number of products that are

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connected will skyrocket from 15 billion to 50 billion. We also

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expect many industries to be revolutionised based on computing

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being rolled into the of every industry. We are interested in

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transportation and healthcare. But not all computer makers are trying

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to diversify. Dell is sticking to what it does best, desktops and

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laptops. Analysts say PC sales will decline by only 1% this year and had

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to 10% last year. `` compared to 10% last year. Companies are trying to

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not just win back old users but attract new ones. Whether or not

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they succeed remains to be seen. The aviation industry has cut its global

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profit forecast for 2014. Airlines are expected to make profits of $18

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billion per `` this year, down from 18.7 billion dollars, which it had

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initially forecast. It is believed economic prospects will improve as

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the year progresses. Tests by Malaysian authorities have found

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that Cadbury products do not contain pork DNA, as previously alleged. The

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Malaysian authorities say the boycott will only be lifted if the

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allegations proved to be wrong. Once the darling of foreign investment,

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and Gloria has seen a decline in `` Mongolia has seen a decline in

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foreign investments over the last 18 months. Foreign investment fell

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almost 50% and in a big to bring back investors, Mongolia is looking

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to increase the area available for mining. It could unlock $1 billion

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in development. Thank you for joining us. How will this all work,

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going forward? There is a lot of mineral wealth hidden beneath the

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Gobi Desert and companies around the world want to access that. It is a

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testament to just what sits underneath the Gobi Desert. And

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opening that up to foreign and domestic investors will open that

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up. Will the parliament in Mongolia allow this? What if they don't and

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just sit on it? This has been a focus for the government in Mongolia

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over the last few months. They have come up with a new plan. One aspect

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of that is removing this moratorium. And that involves the laws involving

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mining and energy? That is correct. A number of laws have recently been

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passed. One of them is a foreign investment law that provides a legal

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framework and a taxation framework. They are making an effort to improve

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the investment environment. As the cycle changes in the mining

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industry, we will see more of that. What does the future look like to

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you in Mongolia? I have been there for 17 years and there has been a

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good up with trend. This is a country that demands of foreign

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investment for the mining industry and the government recognises that

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has to happen and has put things in place to allow that. Looking at the

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Asian stock markets, now. Thank you for joining us. Goodbye for now. The

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headlines: European leaders have been paying tribute to King one

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Carlos of Spain, who is abdicating after nearly 40 years on the

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