16/06/2014 Asia Business Report

Tisch values, like tolerance and the rule of law. `` British values. Now

for all of the business news from Singapore.

The Chinese premier arrives in Britain. Business deals are expected

to follow. Can holograms be used for more than politics?

Hello and welcome to Asia Business Report. I'm Rico Hizon. The Chinese

Premier Li Keqiang arrives in Britain today for the summit meeting

with David Cameron. He is the second most senior politician and, given

the economic cloud over China, trade and investment will be high on the

agenda. Our correspondent reports from Shanghai.

Look familiar? Look again. This is not Britain, but China. Thames Town

is a development on the outskirts of Shanghai, complete with clock

towers, cobbles and its own Winston Churchill statue. British history

and culture have had a huge impact on the world, this couple tell me.

They are among the thousands who came here for their wedding photos.

TRANSLATION: I like British style a lot. I am longing to visit. So is my

wife. Romance is in the ai but if the Chinese are keen, Britain is

positively head over heels. David Cameron's visit last it was part of

an effort to woo Chinese investment and boost British export. Thames

Town has its very own pub, of course, but on closer inspection,

despite the familiar welcoming exterior, it is just a facade. The

same has sometimes been said of the UK`China relationship. The Prime

Minister's meeting in 2012 with the Dalai Lama, the spiritual leader of

Tibet, the man considered by China to be a dangerous separatist, led to

a chill in diplomatic relations. Today, although China's human rights

record is still on the table in theory, the focus is without doubt

on its huge and still rapidly growing economy. Chinese money is

being sought for UK infrastructure projects, like railways and nuclear

power. Two`way trade last year was worth ?43 billion. But behind the

scenes, tensions lurk. On the one hand, the rising communist power

and, on the other, the former colonial. There is no doubt about

who needs who the most today. One newspaper recently described the UK

as just an old European country, apt for travel and study.

A US medical device maker is buying Covidien for about $43 billion. It

will become one of the world's largest medical equipment companies.

It will move its base to Ireland, allowing it to pay lower rates on

corporate taxes. Germany's Siemens and Mitsubishi are

preparing a joint id for parts of an energy business. Offer might be

worth more than $12 billion and would possibly see them enter a

bidding war against General Electric, which has already made $17

billion offer. Shares of an Australian resources

company has been halted pending an announcement. Mineral resources

might be looking to increase its stake in a company, the subject of a

joint takeover bid from a Chinese company and another company.

As a growing number of people take advantage of the convenience of

credit cards, there's more pressure credit cards, there's more pressure

on payment companies to keep forward rates in check. These are set

forward rates account for less than 6 cents out of every 100 US dollars.

asked what companies are doing to asked what companies are doing to

keep forward under control. The payments industry has developed

a layered approach to fighting fraud. We are constantly adding new

security layers. You can imagine the first thing to do is to protect the

data. Years ago, we developed the payment card industry security

standard. All of our participants follow that. That is not enough, we

always assume correctly that layer will be penetrated. If the

fraudsters are able to steal, what are we able to do to prevent that?

We assume that they will be breached so we have technologies to identify

those breaches fast and shut them down quickly. Would you employ

ethical in`house hackers to try and breach these security layers?

Absolutely. Yes. Ethical hackers, internal trainings, where you try to

catch your own people responding to suspicious e`mails. All those sort

of things are very important. The Asia`Pacific is doing better than

the rest of the world in keeping fraud rates low. What are companies

or banks or governments doing right that is helping them achieve that?

Criminals go where the opportunity is. So, they will be naturally

attracted to the largest payment markets in the world. Where others?

Those are in the United States and Europe. That is the first factor.

Here in Asia and Australia, we see the adoption of technology at a

higher rate than in some of those higher rate than in some of those

other markets. Companies like yours are on the lookout of new markets.

What are the risks of entering a new market, where financial and legal

systems aren't fully developed yet? How do you negate that? It will

always bring our nodes with it but it also brings some advantages. When

a company like VISA seeks to open up a market in Myanmar or others, what

we do is we bring our expertise and the knowledge we have gained from

collaborating with people in other countries with us. We have gone so

far as to help with drafting for legislation that might have been

helpful in other countries or even training more in force in and

prosecutors, in case we might see some local homegrown criminals

emerging. India's newly elected Prime Minister

and his Cabinet colleagues are now focused on getting on with the

business of building the country. But the campaign trail wasn't always

easy. For party leaders, the big issue was where to campaign in the

vast land of 800 million voters and only six weeks to lead them. Our

correspondent went to Bangalore to visit a company that helped a

politician be in hundreds of places at once.

A rapturous reception for India's now prime minister. Look closely and

you will see it is not really him. This is a hologram of Narendra Modi.

A bit of technology he used extensively in his campaign. With

mobile units like this one, the pre`recorded speeches were played

out at hundreds of locations, getting his message out across

India. This is the business that helped it happen. They have not been

in business long. First for state and then the national elections. We

knew this would be massive in India for campaigning. We got really lucky

with Mr Modi. He saw a potential in this business. The biggest

difference I see now, people know a bit more about what can be done with

the technology and what can't be done. And how you can use the

technology for your advantage. technology for your advantage.

Elections do not come around that often so now this firm needs new

customers. This man runs a jewellery business and he is looking at using

technology to improve customer service in his shop. Here's a way

that I can actually show a real person and I can show my emotion and

my connect and my passion for the diamonds or the jewellery, the

ruled, the rubies or what ever and I can make them want the kind of

conduct that we make. `` the emeralds, rubies, whatever. It is so

personal, it is so close to reality, it is like me being there. As the

technology is a fairly new, they are experimenting with ways to use it.

This editor is working on making a hologram of a yoga instructor. They

have ideas of holograms of university lecturers to teach

students and images of Bollywood stars into cinemas, promoting their

films. It seems the election has shown people and businesses the

potential of the hologram. But of course it all depends on whatever or

whoever is projected doing or saying some interesting, to make sure that

the audience doesn't see through the gimmick.

Regional stocks are slipping, as traders become cautious following

the escalating violence in Iraq, drawing `` resulting in crude oil

prices being higher than in recent months. There are concerns that an

insurgency in Iraq could trigger civil war and eventually crimp oil

exports. In Q4 investing your time with us. The sport is up next.

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