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Now on BBC News, all the latest business news live from Singapore. | :00:00. | :00:12. | |
Police in Asia are cracking down on illegal betting on the eve of the | :00:13. | :00:18. | |
World Cup kick`off in Brazil. And, game changer? Nintendo counts | :00:19. | :00:21. | |
on toys to turn its fortunes around. Welcome to the programme. I'm Rico | :00:22. | :00:35. | |
Hizon. Days ahead of the start of the World Cup in Brazil, police in | :00:36. | :00:38. | |
China, Thailand and Singapore have begun targeting illegal football | :00:39. | :00:45. | |
betting. It is an enormous market globally. The international centre | :00:46. | :00:57. | |
for sport security estimates people bet up to $680 billion a year. Over | :00:58. | :01:02. | |
80% of those wages are made through illegal channels. Asia accounts for | :01:03. | :01:05. | |
more than half of that illegal market worldwide. From Hong Kong, | :01:06. | :01:07. | |
our correspondent reports on efforts to stamp out the trade. | :01:08. | :01:13. | |
Kicking off a new campaign. Ahead of the World Cup in Brazil, these young | :01:14. | :01:25. | |
dancers are fronting a government`sponsored movement urging | :01:26. | :01:27. | |
the public not to gamble on football matches. The World Cup is about | :01:28. | :01:34. | |
sportsmanship, it is about skills. It is about football stars. They are | :01:35. | :01:38. | |
not running around to make money for you. But, for Hong Kong's many | :01:39. | :01:44. | |
punters, about 60% of the population, the upcoming competition | :01:45. | :01:47. | |
is the most exciting opportunity in the world. The only legal way to | :01:48. | :02:00. | |
gamble here is at the Jockey Club, which collected $6.5 billion US in | :02:01. | :02:03. | |
revenue from football betting last year. Unofficial channels, like this | :02:04. | :02:05. | |
website, are believed to make several times that amount. They | :02:06. | :02:08. | |
offer easy access and lots of credit. They have now been targeted | :02:09. | :02:16. | |
by law enforcement. This week, police in Hong Kong and another | :02:17. | :02:19. | |
province seized millions of dollars in cash and detained 29 people were | :02:20. | :02:21. | |
running an allegedly illegal online betting syndicate. About $100 | :02:22. | :02:24. | |
million had already been wagered. Mostly on World Cup matches. | :02:25. | :02:30. | |
TRANSLATION: According to what we have confiscated, and our records, | :02:31. | :02:32. | |
this is an unprecedented and extremely large illegal betting | :02:33. | :02:36. | |
ring. It is difficult to estimate the size of the illegal football | :02:37. | :02:41. | |
betting market. Both here in Hong Kong and the rest of China. Some | :02:42. | :02:45. | |
believe it could be in the hundreds of billions of dollars. For the | :02:46. | :02:49. | |
people affected, the real`life impact is unquantifiable. Deeply in | :02:50. | :03:00. | |
debt, this man quit gambling five years ago and joined a church | :03:01. | :03:03. | |
support group. That was after his wife threatened divorce. He explains | :03:04. | :03:11. | |
why he was punting for more than four decades. TRANSLATION: For me, I | :03:12. | :03:24. | |
loved football. It added to the excitement. The best was when my | :03:25. | :03:32. | |
team won, and I won. Winning on the field is more healthy, say | :03:33. | :03:35. | |
antigambling activists, and they will campaign for two more weeks, to | :03:36. | :03:38. | |
convince the come `` to convince the public that it's a sporting, not a | :03:39. | :03:45. | |
betting event. Looming threat of sanctions over | :03:46. | :03:51. | |
supply cuts means Moscow is increasingly looking to China. | :03:52. | :03:57. | |
President Vladimir Putin last month signed a 30 year gas agreement with | :03:58. | :04:01. | |
Beijing. Economists say the shift in focus will get a mixed response in | :04:02. | :04:08. | |
Asia. Natural gas prices in Asia are about twice what they are in Europe, | :04:09. | :04:14. | |
four times the US. Any source of inexpensive natural gas, like in | :04:15. | :04:17. | |
Russia, will be welcomed. The currency is different. It's not a | :04:18. | :04:22. | |
very strong currency, it is very limited. My guess is the Asians will | :04:23. | :04:27. | |
not be receptive to paying in rubles. It will be happy to pay in | :04:28. | :04:36. | |
dollars or in the yuan. In other business news, the World | :04:37. | :04:42. | |
Bank has revised its forecast for economic road in the developing | :04:43. | :04:49. | |
world this year from 5.3% to 4.8%. If that's correct, it will be the | :04:50. | :04:53. | |
third consecutive year of growth below 5% in these countries. It says | :04:54. | :04:56. | |
developing nations like India need to make economic reforms might like | :04:57. | :05:02. | |
investing in infrastructure, to promote growth but its report | :05:03. | :05:05. | |
predicts growth will speed up in 2015. Indonesia could more than | :05:06. | :05:18. | |
double its rice imports this year, to keep the prices down. The economy | :05:19. | :05:21. | |
once a rise in prices ahead of the elections next month, and the | :05:22. | :05:26. | |
looming weather system. Analysts believe imports could rise to 1.5 | :05:27. | :05:31. | |
million tons, which would be good news for growers in Thailand and | :05:32. | :05:41. | |
Vietnam. Google is buying skybox imaging for `` half $1 billion. The | :05:42. | :05:52. | |
technology giant says the deal is aimed at keeping the maps accurate | :05:53. | :05:55. | |
and could help to expand Internet access. Satellites use a resolution | :05:56. | :05:58. | |
that can see single cars along a road. It is their second acquisition | :05:59. | :06:01. | |
year, after it bought a solar powered drone maker. | :06:02. | :06:06. | |
Virtually every media and entertainment business today has a | :06:07. | :06:09. | |
digital strategy to try to get to the consumer where ever they are. In | :06:10. | :06:28. | |
a new report, PricewaterhouseCoopers says that by 2018 one third of | :06:29. | :06:31. | |
advertising revenue across the world will be digital, but | :06:32. | :06:32. | |
consumer revenues will come from digitally delivered content, like | :06:33. | :06:36. | |
music, videos and games. How can they make money from the digital | :06:37. | :06:40. | |
consumer? These days, it is impossible to | :06:41. | :06:44. | |
escape from advertising, as you can see from the big television screen | :06:45. | :06:47. | |
behind me in the heart of Singapore's financial district. Five | :06:48. | :06:50. | |
years ago, television advertising was more than double that of | :06:51. | :06:53. | |
internet advertising. According to a new report, that is set to change. I | :06:54. | :06:56. | |
am joined by Greg Unsworth from PricewaterhouseCoopers. How is the | :06:57. | :07:08. | |
world going digital? It is amazing what is going on at the moment, | :07:09. | :07:11. | |
enabled by smart devices, the whole world is going digital. We can see a | :07:12. | :07:15. | |
large bulk of growth will be digitally driven. That creates | :07:16. | :07:17. | |
challenges for traditional players and opportunities for new entrants. | :07:18. | :07:23. | |
In my hand, I have two hardcopy newspapers, some say they are a | :07:24. | :07:26. | |
dying breed. Most people now consume information on smart phones and | :07:27. | :07:29. | |
tablets. Media companies are now trying to monetise their products | :07:30. | :07:31. | |
online. How successful have they been? There is progress being made. | :07:32. | :07:42. | |
There are some successful models of online distribution of newspaper | :07:43. | :07:45. | |
content and news content and it will evolve. It's a balance of those | :07:46. | :07:51. | |
companies to protect their traditional core, while they develop | :07:52. | :07:53. | |
their digital engagement with consumers as well. How do you | :07:54. | :08:00. | |
monetise the digital customer? There are a few things, like trying to | :08:01. | :08:03. | |
understand the consumer better. You can target different members of the | :08:04. | :08:05. | |
community more effectively. We can see examples of that in different | :08:06. | :08:09. | |
markets. That is what digital advertising is expected to reach the | :08:10. | :08:12. | |
size of television advertising in the next five years globally. Thank | :08:13. | :08:23. | |
you very much. As we can see, most companies are moving their resources | :08:24. | :08:26. | |
to the online world. Whether they are able to make money from that | :08:27. | :08:29. | |
still remains to be seen. Nintendo is focusing its efforts on | :08:30. | :08:32. | |
familiar franchises. Kid friendly content. But can toys and figurines | :08:33. | :08:40. | |
be the best way forward for the Japanese gaming giant, after it | :08:41. | :08:43. | |
missed its own sales targets last year? Our correspondent reports from | :08:44. | :08:48. | |
E3, the world 's largest video gaming fare in Los Angeles. | :08:49. | :08:52. | |
Nintendo came here, needing to revive its flagging fortunes. The | :08:53. | :08:57. | |
gaming giant is just that ` a gaming giant. Unlike Sony and Microsoft, it | :08:58. | :09:04. | |
doesn't have anything else to fall back on. Sales of their latest | :09:05. | :09:11. | |
console have done very well. Over the last few years, it hasn't done | :09:12. | :09:16. | |
well. It announced a new figurine that could help to bring the real | :09:17. | :09:19. | |
world and physical world. David is from Nintendo. Explain what the | :09:20. | :09:27. | |
figurine system isl. `` is. They are little characters, your favourite | :09:28. | :09:32. | |
Nintendo characters. Nintendo is all about reinvention, we keep doing | :09:33. | :09:35. | |
that. But here, we keep reinventing something for our system. It can | :09:36. | :09:38. | |
interact with the games in brand`new ways. You can take it, and place it | :09:39. | :09:41. | |
on your game pad, and it exchanges information. For example, we | :09:42. | :09:48. | |
announced that this would be a fighter, like your partner. Or a | :09:49. | :09:57. | |
rival. With your character, it will be customised. You can build up the | :09:58. | :10:05. | |
statistics and interact with it. This is similar to something in | :10:06. | :10:10. | |
place, like the one from Disney. We are doing this the Nintendo way. One | :10:11. | :10:22. | |
thing that separates us is you can use this across multiple platforms. | :10:23. | :10:34. | |
Next year you'll be able to use it with Nintendo 3ES. It is needing a | :10:35. | :10:44. | |
bit of a shot in the arm. We will see if this delivers. | :10:45. | :10:48. | |
A quick look at the Asian stock markets. Currently, they arm mixed, | :10:49. | :10:52. | |
after US stocks finished nearly flat overnight. Thank you so much for | :10:53. | :10:57. | |
investing your time with us. Sport Today is up next. | :10:58. | :11:13. | |
I'm Mike Embley. The top stories this hour: | :11:14. | :11:14. |