Browse content similar to 10/06/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
unannounced inspections. Now on BBC News all the latest business news | :00:00. | :00:11. | |
live from Singapore. India and China have their eye on | :00:12. | :00:15. | |
new markets, as high`level talks are held to revive trade and build their | :00:16. | :00:20. | |
economies. And we take you to a fishing port in Taiwan to look at | :00:21. | :00:23. | |
what authorities are doing to tackle human trafficking. Welcome to Asia | :00:24. | :00:35. | |
Business Report. India's new government has set out its plans for | :00:36. | :00:38. | |
rapid economic reform, including a new general sales tax. To encourage | :00:39. | :00:47. | |
foreign investment, and measures to fast track approvals from major | :00:48. | :00:50. | |
business projects. The government is also boosting relations with | :00:51. | :00:52. | |
mainland China. India's Prime Minister Narendra Modi met the | :00:53. | :00:55. | |
Chinese Foreign Minister in Delhi in the first high`level talks between | :00:56. | :00:58. | |
the rival Asian giants as Mr Modi took charge. Our correspondent in | :00:59. | :01:07. | |
Delhi has more. India and China, the two Asian | :01:08. | :01:10. | |
giants, have a growing interest in each other economically. China is | :01:11. | :01:13. | |
now one of India's biggest trading partners. With two way trade deals | :01:14. | :01:19. | |
of up to $70 billion. That is part of the problem, for every dollar | :01:20. | :01:21. | |
worth of products that India exported to China, it imports three | :01:22. | :01:27. | |
times as much. Just take this market for example, over 70% of all | :01:28. | :01:31. | |
products found in this market come from China, with its cheap fabrics, | :01:32. | :01:37. | |
and high`end electronics. So this is one of the big issues on the table | :01:38. | :01:42. | |
for this visit. India's growing concern about the trade deficit, | :01:43. | :01:48. | |
which is now close to $40 billion. But it is not just trade which is | :01:49. | :01:51. | |
the problem. The two countries have traditionally eyed each other with | :01:52. | :01:55. | |
mutual suspicion. More recently, the relationship has been tense, mainly | :01:56. | :02:00. | |
due to border disputes. But now something has changed, not just in | :02:01. | :02:03. | |
the tone of statements by both sides, but also in the body language | :02:04. | :02:10. | |
of the political leaders. This is the first high`profile meeting to be | :02:11. | :02:13. | |
held here at the official residence of Prime Minister Narendra Modi. He | :02:14. | :02:19. | |
has in the past expressed his admiration for China's growth model. | :02:20. | :02:24. | |
He has visited Beijing many times in his role as the Chief Minister of | :02:25. | :02:32. | |
this state. Seeking investment for his home State. He has also spoken | :02:33. | :02:35. | |
about introducing Mandarin for schoolchildren in his state. On | :02:36. | :02:38. | |
visits, he has even printed his business card in Mandarin in the | :02:39. | :02:41. | |
colour red, which is considered auspicious by many in China. But | :02:42. | :02:45. | |
this government does not just want to emulate China, it is ambitious, | :02:46. | :02:48. | |
and it wants to compete in the global economy, with China. | :02:49. | :03:04. | |
The push for more reliable energy from the sun that may be under | :03:05. | :03:08. | |
threat if the government imposes duties on the imports of solar | :03:09. | :03:16. | |
panels. Only a quarter of the solar panels in capacity now will be | :03:17. | :03:22. | |
produced and this could double the cost of solar power. New data | :03:23. | :03:31. | |
reveals inflation is rising in May, with food costs rising from a year | :03:32. | :03:38. | |
ago. It is still below the government target of 3.5% leaving | :03:39. | :03:42. | |
more room for growth this year. China's leader is continuing with | :03:43. | :03:53. | |
his crackdown on corruption into anticompetitive behaviour across | :03:54. | :04:03. | |
many major industries which include alcohol, pharmaceuticals and | :04:04. | :04:10. | |
automobiles. They are not targeting any specific sectors but aim to | :04:11. | :04:13. | |
stamp out anticompetitive practices across all sectors. China has not | :04:14. | :04:17. | |
been shy in supporting big greater strength in global economic | :04:18. | :04:22. | |
and trade ties in recent years has been the growing relationship | :04:23. | :04:24. | |
between China and Africa. Trade between the two sides reached more | :04:25. | :04:28. | |
than $200 billion last year. From just $10 billion in 2000. And | :04:29. | :04:32. | |
Africa's exports to China are increasing 25% every year. In some | :04:33. | :04:37. | |
African countries, those exports account for more than a quarter of | :04:38. | :04:43. | |
GDP. Our correspondent spoke to a representative of HSBC to see how a | :04:44. | :04:59. | |
slowdown would affect China. Africa should diversify its product line | :05:00. | :05:03. | |
beyond commodities and they can do it because at the end of the day you | :05:04. | :05:08. | |
have very low labour costs in Africa. So Africa could start | :05:09. | :05:12. | |
producing more consumption related goods, more value`added, more | :05:13. | :05:14. | |
technology intensive product, that they can eventually export out to | :05:15. | :05:16. | |
China instead of only commodities, as Chinese economy transforms to a | :05:17. | :05:36. | |
phase. A representative from HSBC. Sony and Microsoft are battling it | :05:37. | :05:40. | |
out this week at E3, the world's largest video gaming expo in Los | :05:41. | :05:43. | |
Angeles. They will be looking to impress with their offerings for the | :05:44. | :05:46. | |
next year or so. Our North America technology correspondent Richard | :05:47. | :05:49. | |
Taylor reports from Los Angeles. Microsoft are holding a press | :05:50. | :05:51. | |
conference first to kick off proceedings at E3, the three`day | :05:52. | :05:54. | |
event. But the tone really set by today's announcements and the focus | :05:55. | :05:56. | |
exclusively on the games themselves. On the forthcoming titles that we | :05:57. | :05:59. | |
will see for Microsoft's Xbox One, which has been out about seven | :06:00. | :06:03. | |
months but hasn't done as well as Sony's console. Sony always focused | :06:04. | :06:06. | |
on the gaming aspect of the PS4. Microsoft started out, when they | :06:07. | :06:07. | |
released the Xbox One, talking about released the Xbox One, talking about | :06:08. | :06:10. | |
the overall entertainment experience. But it was clear from | :06:11. | :06:13. | |
today's press conference that it is all about gaming for them now. They | :06:14. | :06:17. | |
have pivoted to talking about some truly next`generation | :06:18. | :06:23. | |
beautiful graphics and fascinating gameplay. In truth, there wasn't | :06:24. | :06:26. | |
that much in the way of real innovation in gaming that we saw | :06:27. | :06:31. | |
today. There wasn't even a mention really of Microsoft's Kinnect, now | :06:32. | :06:34. | |
unbundled from the Xbox One as an additional accessory. We are waiting | :06:35. | :06:52. | |
on Sony's announcement later. They are expected to talk more about | :06:53. | :06:55. | |
project Morpheus, the virtual reality headset 80s to a few months | :06:56. | :06:58. | |
ago. That could be very interesting, along with the other virtual reality | :06:59. | :07:01. | |
headset on the show, the oculus rift. Those could open the door to a | :07:02. | :07:04. | |
new generation of gaming. As they turn their head, they are immersed | :07:05. | :07:08. | |
in their surroundings in a way that basically haven't been until now. So | :07:09. | :07:11. | |
it is said to be a fascinating three days. And we will be bringing you | :07:12. | :07:14. | |
the latest from the show floor. Richard Taylor in LA, and for more | :07:15. | :07:18. | |
on the E3 conference, check out the latest news on the BBC website. | :07:19. | :07:25. | |
Instagram is expanding its advertising aced to the UK on the | :07:26. | :07:30. | |
Canada and Australia later this year. It was bought by Facebook in | :07:31. | :07:38. | |
2012 and it introduced advertising in November. It has more than 200 | :07:39. | :07:43. | |
million users worldwide but many of them are believed to be outside of | :07:44. | :07:54. | |
America. A recent case involving Cambodian fisherman trafficked to | :07:55. | :07:59. | |
work on Taiwanese boats has put the sector in the spotlight. Our | :08:00. | :08:03. | |
correspondent has more from a fishing port. | :08:04. | :08:05. | |
Back from days at sea, these migrant fishermen do not get a break. They | :08:06. | :08:09. | |
are busy mending fishing nets to set out to sea again. They are among at | :08:10. | :08:24. | |
least 24, 000 mostly south`east Asian migrants working in Taiwan's | :08:25. | :08:26. | |
fishing industry. According to local Labour laws, they are supposed to | :08:27. | :08:30. | |
get at least $600 a month. And put in no more than 12 hours per day. | :08:31. | :08:34. | |
But many work much longer than that. They often receive less than half | :08:35. | :08:37. | |
their salary. This man asked not to be identified. Taiwan's treatment of | :08:38. | :08:54. | |
migrant fishermen amounts to human trafficking and forced Labour, | :08:55. | :08:57. | |
according to experts at the UN's agency in charge of protecting | :08:58. | :09:05. | |
worker's rights. NGOs say that the government is not doing enough to | :09:06. | :09:07. | |
stop the exploitation of migrant workers. They say the government | :09:08. | :09:13. | |
must have clear standards on wages, hours, and working conditions. | :09:14. | :09:18. | |
Alison Lee, from the migrants union, says she has reported more than 100 | :09:19. | :09:21. | |
cases of exploitation to the government. But that nothing has | :09:22. | :09:27. | |
been done to help the workers. Did they give any of the money back? No. | :09:28. | :09:32. | |
Not one single person got a penny back? No. They have been threatened | :09:33. | :09:39. | |
with sending home. Government officials say they have done a lot | :09:40. | :09:43. | |
to help migrants, such as setting up a system to allow employers to hire | :09:44. | :09:46. | |
them directly. But most employers still prefer to go through agencies, | :09:47. | :09:49. | |
which do all the paperwork for them and charge the migrants instead. | :09:50. | :09:55. | |
TRANSLATION: The problem is their home countries allow the overseas | :09:56. | :09:57. | |
recruitment agencies to deduct higher fees from the workers. We | :09:58. | :10:01. | |
have been asking their governments to reduce the fees. This is not | :10:02. | :10:14. | |
something we can stop on our own. Worker's rights groups say that what | :10:15. | :10:18. | |
Taiwan can do in the meantime is in the meantime is enforce its laws, | :10:19. | :10:21. | |
which look good on paper, but are not being followed. They say that | :10:22. | :10:24. | |
unless Taiwan seriously addresses this issue, its reputation will be | :10:25. | :10:26. | |
marred, regardless of how much fishing nets bring in. | :10:27. | :10:31. | |
And before we go, here is news just in. Asian stock markets are mixed | :10:32. | :10:39. | |
just now as they react to the latest inflation report which came back | :10:40. | :10:45. | |
higher than expect it at 2.5% compared to last year's levels. | :10:46. | :10:50. | |
Thank you for investing your time with us. Sport today is up next. The | :10:51. | :11:02. | |
main news stories this hour. Days before the start of the World Cup in | :11:03. | :11:06. | |
Brazil, metro workers in Sao Paulo have suspended their protest over | :11:07. | :11:08. | |
pay until Wednesday when they will hold a vote on future action. | :11:09. | :11:13. | |
Rescuers in the German Alps have rescued a man located in | :11:14. | :11:14. |