23/07/2014 Asia Business Report


23/07/2014

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appeal. It follows the inquiry into so`called Trojan schools. Now on BBC

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News all the latest business news live from Singapore.

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Nearly a week after the crash of MH17, we hear from passengers

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questioning the safety of global flight paths. China is becoming an

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increasingly important market for Apple Mac with a surge in profits

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thanks to iPhone sales. Thank you for joining us for Asia Business

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Report. Six days after MH17 went down, the bodies of many passengers

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killed on the Malaysian Airlines flight are finally on their way to

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the Netherlands. In the Malaysian capital, a small number of

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protesters gathered... Passengers are questioning who is responsible

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for the safety of global flight paths. Now we go to our

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correspondant. It is one of the world's busiest passenger air

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raids. `` roots. The pad over Ukraine is one of the fastest ``

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path. Malaysian Airlines and many other characters including Lufthansa

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and Air India were flying over the area last week while others avoided

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the area. This man was on a flight which also flew over Ukraine on the

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day of the crash. I am still in a strange emotional state about it. It

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could have been our flight. It could have been any flight. Within hours,

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flights started to avoid the Ukraine but the question is coming why were

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they flying over Ukraine to begin with? All the airlines we contacted

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said they were only using internationally approved flight

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paths, pointing the finger at air control and the civil aviation

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organisation but they both say that this is a sovereign issue and it is

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up to the national authorities to declare any unsafe areas of heirs

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face. `` airspace. We know they are having trouble. Our faith is shaken

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but not destroyed. We take a lot of things for granted and trust the

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regulators in whatever they decide for us. Airlines are keen to

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reassure passengers that their priority is to keep them safe but

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the debate continues over whether this tragedy could have been

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avoided. And with no independent organisation taking direct

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responsibility for the safety of global flight paths, questions

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remain. Joko Widodo has officially been

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declared the winner of the Indonesian election but his opponent

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is not giving up and has alleged that widespread fraud has taken

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place and that he will challenge the result in the courts. We are

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speaking to the American Chamber of Commerce in Jakarta who said his

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investors are optimistic about the new president but have expectations

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of him. One of his first priorities will be to get experts in the

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cabinet and investors will be looking at that. One of his first

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priorities in office is to deal with the US subsidy issue that is

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accounting for 15% of the budget today. If that money could be freed

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up, it could go into infrastructure and other social programmes. Getting

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the cabinet right and dealing with the subsidy issue will be the most

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important things. How will he handle the ongoing issue in mining? He

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needs to bring the companies to the table with a contract of work that

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needs to be respected. It needs to be a solution for investors and the

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government. If that issue is not dealt with, it has tremendous

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implications for employment and the loss of export earnings. Despite

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Indonesia's problems, many investors are honing in on the large

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population of individuals under 30 which could basically spur domestic

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demand going forward. That is an advantage that Indonesia has. A huge

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population under the age of 30 and a productive one but that window is

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fairly tight. 20 years from now, the population will age so the decisions

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that are made today will have tremendous ramifications 20 years

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down the line. And her white in Jakarta `` Andrew White. Microsoft

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is already in use rise and profits fall in the first quarter. It bought

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Nokia in April and is down $5 billion from the same period last

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year. Apple made a jumping profits of nearly $4.6 billion due to iPhone

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sales and computers. Now we go to our correspondant. What is

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interesting is we heard from the chief executive who talked about the

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strong performance in one specific region when it came to be sales of

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iPhone's. That was in China where sales rose 48%. I spoke to an

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analyst about the results and this is what he had to say. We saw them

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sell over 35 million phones in a quarter, that is roughly 12 million

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a month which is staggering even the high price point and given that all

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the smart phone growth is in the developing world where they are most

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expensive but people are still willing to pay due to the status

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symbolism. What about the iPad? Disappointing sales numbers for the

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second quarter and a row. Down 9%. What did he say? I would be

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surprised if he wasn't disappointed. These figures

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underscore how important the iPhone is to the firm. It is where the bulk

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of its profits come from and we are reflecting on the fact that I had

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sales `` iPad were less stellar and we have not discussed it computer

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sales. Investors are not impressed with the stock falling in

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after`hours trading at Apple. Credit Suisse received a huge fine

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following altercations on tax evasion charges from American

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authorities but it was not all bad news. They have brought in huge

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amounts of money this quarter, a key indication of improved revenue. If

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you are considering moving to Singapore for a banking job, you are

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not alone but you may be in the minority if you decide to move to

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Sydney. A study shows vacancies across the Asia`Pacific region are

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up 5% from last year indicating a growing war for talent. There is a

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risk that Australia might lose out with 68% considering a move

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overseas. More businesses are hiring to grow and not just replace

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existing staff. Andrew Evans is from the firm that carried out the

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survey. In terms of the type of roles, it is broadly across the

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board in financial services. The front, middle or back office, that

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is a term that we use in the banking business, the front is where the

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revenue is made and that is the most pleasing. Private banking, corporate

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banking and investment and trading, all of those are up. Let's talk

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about the broader Asian market. There is competition for jobs for

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individuals born after 1977. If I were a CEO, who would I hire today?

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The way our clients operate, that his financial and nonfinancial

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services, the amount of diverse roles they have and the way they are

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looking for different talent to move around readily and take advantage of

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the growth, that is what we call nonpermanent recruitment and there

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is a significant rise here in Singapore and in Hong Kong and

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Sydney. All of this illustrates that it is known that long`term roles

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that are in the majority at the moment `` non`long`term`roles. Asian

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markets are rising after American stocks rose yesterday. We are still

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being asked to pay attention to unstable regions overseas.

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Australia's main share index is rising by 45 points today. Violence

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persisting in the Gaza Strip and instability in Ukraine have lead to

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volatility in these areas. I'm Adnan

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