Browse content similar to 22/07/2014. Check below for episodes and series from the same categories and more!
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the collapse of the trial of the pop star, Tulisa Contostavlos. She'd | :00:00. | :00:00. | |
been accused of drugs offences which she had always denied. Now on BBC | :00:00. | :00:00. | |
News all the latest business news live from Singapore. | :00:00. | :00:16. | |
Fuel subsidies as we await the final count of Indonesia's collection, we | :00:17. | :00:24. | |
look at a key economic issues facing the new president. Subsidizing | :00:25. | :00:27. | |
petrol has led to a huge deficit which is unsustainable for their | :00:28. | :00:32. | |
economy. Shanghai's shut down, a food scare in China said to be | :00:33. | :00:43. | |
selling out of date meat. Welcome to Asia Business Report. Indonesia is | :00:44. | :00:51. | |
set to announce the winner of the presidential election today with | :00:52. | :00:53. | |
almost all of the votes counted. Most private tallies give Joko | :00:54. | :01:01. | |
Widodo a slim lead over his rival. Whoever takes over as president will | :01:02. | :01:05. | |
have to tackle the issue of fuel subsidies, the main cause of their | :01:06. | :01:12. | |
current deficit. Now we go to our correspondant. Every year, Indonesia | :01:13. | :01:18. | |
spends $20 billion subsidizing fuel for its citizens. Petrol is around | :01:19. | :01:23. | |
56 cents a leader which means that they are paying some of the cheapest | :01:24. | :01:29. | |
prices in the world for their fuel. This is a gas guzzling country and | :01:30. | :01:34. | |
demand is high with the middle class anymore than ever before `` paying | :01:35. | :01:41. | |
more. Fuel subsidies only benefit the wealthy and Indonesia and | :01:42. | :01:47. | |
raising subsidies is unlikely to be popular. TRANSLATION: I don't agree | :01:48. | :01:51. | |
with the decision to get rid of subsidies. They keep raising | :01:52. | :01:58. | |
prices, it is enough. I guess the subsidies must be reduced but it | :01:59. | :02:02. | |
would be better if they could hand back some cash to the poor in some | :02:03. | :02:08. | |
other way. Analyst say that the reality is that Indonesia no longer | :02:09. | :02:11. | |
has a choice when it comes to raising fuel prices. Subsidizing | :02:12. | :02:16. | |
petrol has led to a huge deficit which is unsustainable for their | :02:17. | :02:21. | |
economy and could prove to be dangerous as this country tries to | :02:22. | :02:24. | |
maintain economic stability in the future. | :02:25. | :02:31. | |
Malaysian Airlines faces a difficult road ahead as it tries to restore | :02:32. | :02:37. | |
its reputation in the wake of its disasters but could the flood of | :02:38. | :02:40. | |
compensation claims also affect the airline's Bottom Line? Joseph | :02:41. | :02:48. | |
Wheeler is an expert in this issue and he gave us his estimate on how | :02:49. | :02:54. | |
much the claims are likely to cost. A lawsuit of this size, typically | :02:55. | :03:00. | |
the claims could run to hundreds of millions of dollars. And currently | :03:01. | :03:12. | |
they are recovering from the loss of MH370. Is there any prospect of | :03:13. | :03:19. | |
getting back the original compensation money given that it is | :03:20. | :03:25. | |
possible they are not to blame? Only time will tell. History has shown us | :03:26. | :03:33. | |
that in cases like this, an admission by a government or | :03:34. | :03:37. | |
persuasion through political efforts can result in that sort of | :03:38. | :03:44. | |
compensation. For full compensation to be payable to passengers, they | :03:45. | :03:49. | |
would be subject to the Montreal convention which covers proven | :03:50. | :03:54. | |
losses but does not cover all of the losses that these families are | :03:55. | :04:00. | |
tragically facing now. Could they be legally negligent given that the | :04:01. | :04:02. | |
decision was to fly through a war zone? Negligence is a curious issue | :04:03. | :04:08. | |
when it comes to air crash cases. It is not applicable. In terms of | :04:09. | :04:14. | |
liability of the air carrier, except in so far as the measure of | :04:15. | :04:22. | |
damages. But with all of these compensation being paid, could the | :04:23. | :04:29. | |
airline go bankrupt? There have been a lot of questions about the | :04:30. | :04:32. | |
financial capacity of Malaysian Airlines but what people must | :04:33. | :04:37. | |
remember with the international treaty is that the airline must be | :04:38. | :04:41. | |
fully insured for losses of this kind. He is an expert in aviation | :04:42. | :04:49. | |
compensation claims and joined us from Brisbane. Keep up`to`date with | :04:50. | :04:57. | |
all the latest developments into the MH17 crash right here on BBC News. | :04:58. | :05:03. | |
Log onto our website where you will find special coverage including news | :05:04. | :05:07. | |
that revels in Ukraine have handed over the flight data recorders to | :05:08. | :05:17. | |
Malaysian authorities. British regulators are looking over | :05:18. | :05:19. | |
allegations of price`fixing. The Serious Fraud Office is looking into | :05:20. | :05:25. | |
alleged fraudulent conduct and more than a dozen international agencies | :05:26. | :05:27. | |
are investigating claims of price manipulation. It is alleged that | :05:28. | :05:33. | |
online chat rooms were used to fix benchmark prices. The board of Time | :05:34. | :05:42. | |
Warner has taken steps to fend off the takeover bid of Rupert Murdoch. | :05:43. | :05:52. | |
Last week they rejected a $75 billion takeover offer from the | :05:53. | :06:03. | |
media giant. Yahoo has acquired an application analytics company called | :06:04. | :06:06. | |
Flurry to help boost advertising revenue from smart phones. Flurry | :06:07. | :06:11. | |
helps out developers learn more about their users and deliver more | :06:12. | :06:17. | |
personalized ads to them. Details of not been revealed but some are | :06:18. | :06:20. | |
saying that they paid up to 300 million US dollars. A factory in | :06:21. | :06:24. | |
Shanghai has been shut down for selling out of date meat two | :06:25. | :06:30. | |
restaurants across China including McDonald's and KFC. It is the latest | :06:31. | :06:41. | |
in a number of food scares. This was triggered after a report on | :06:42. | :06:45. | |
television which said that the supplier who was selling this meat | :06:46. | :06:52. | |
had passed its sell by date. Oath of the giants involved, McDonald's and | :06:53. | :06:57. | |
KFC say that when they found out, they immediately stopped supplies | :06:58. | :06:59. | |
and will carry out investigations into how this could've happened in | :07:00. | :07:03. | |
the first place. It is the latest in a long line of food safety scares in | :07:04. | :07:08. | |
China that have damaged consumer confidence. Generally speaking, | :07:09. | :07:14. | |
foreign brands are seen as more reliable here that in terms of KFC, | :07:15. | :07:19. | |
is is the second safety scare for them in 12 months, the last one | :07:20. | :07:24. | |
within December and sales slumped after that. With this latest scare | :07:25. | :07:30. | |
at more than 4000 KFC restaurants in China, a will once again be worried | :07:31. | :07:34. | |
that this will affect their bottom line `` they. In other news, Netflix | :07:35. | :07:45. | |
reported profits of $71 billion, more than a year ago compared to | :07:46. | :07:52. | |
last year's levels. The streaming video firm now has 50 million users | :07:53. | :08:02. | |
in over 40 countries. Huawei is reporting a 93% jump in sales for | :08:03. | :08:07. | |
the first six months of the year. They have traditionally concentrated | :08:08. | :08:11. | |
on making telecoms network equipment but its decision to diverse affiant | :08:12. | :08:14. | |
into fast`growing sectors like smart phones has seen it become one of the | :08:15. | :08:27. | |
world's biggest manufacturers. Shares in Candy Technologies did | :08:28. | :08:30. | |
well overnight on the NASDAQ apparently because the government of | :08:31. | :08:40. | |
China excluded electronic vehicle makers from its programme. | :08:41. | :08:47. | |
It may be convenient to check on your laundry or car from your | :08:48. | :08:55. | |
thermostat with these new electronic devices. We're going to hear more | :08:56. | :09:01. | |
about it. Some of these guys in the hacker community are very talented | :09:02. | :09:06. | |
but the good news is, there are a lot of smart people who have made | :09:07. | :09:09. | |
the security profession their career now. It is becoming a path for smart | :09:10. | :09:16. | |
developers, people who are excellent in the business field and we are | :09:17. | :09:20. | |
seeing a huge growth in the security community to counteract that kind of | :09:21. | :09:26. | |
hacking. These devices are already widely used in the United States. | :09:27. | :09:31. | |
You can control your thermostat and washing machine. Is this technology | :09:32. | :09:35. | |
already being used widely in Asia? It is Ground Zero. If you think | :09:36. | :09:41. | |
about the massive penetration of smartphones, and how many things are | :09:42. | :09:47. | |
now connected to your smart phone. Asia is a very interesting place | :09:48. | :09:53. | |
because it is the place that many companies are starting to run early | :09:54. | :09:56. | |
experiments in getting the product out to market. If you are thinking | :09:57. | :10:05. | |
about getting an Uber in Korea, you had better be quick as authorities | :10:06. | :10:13. | |
want to ban it. The City Council of Seoul is worried that it creates | :10:14. | :10:18. | |
unfair competition for taxi drivers. Before we go, here is a | :10:19. | :10:23. | |
quick look at the market. Asian markets are currently mixed. Thank | :10:24. | :10:28. | |
you for investing your time with us. | :10:29. | :10:39. | |
Welcome to BBC News. I'm Adnan Nawaz. The top stories this hour. | :10:40. | :10:44. | |
Pro` Russian rebels in eastern Ukraine have handed over the black | :10:45. | :10:48. | |
box recorders for flight MH17 to Malaysian officials and agreed to a | :10:49. | :10:51. | |
ceasefire around the crash site. The train carrying the bodies of those | :10:52. | :10:56. | |
killed in the disaster is transferring them to Dutch | :10:57. | :10:57. |