04/09/2014 Asia Business Report


04/09/2014

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last week. Now on BBC News, all the latest

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business news live from Singapore. Connecting the smartphone to a game

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console. We bring you the latest technology from a trade show in

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Berlin. Dependent on milk. How the rise and fall of global dairy prices

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are impacting the New Zealand economy.

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Thank you for joining us. Japan's Sony was one of the first

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technology companies to release a Bluetooth enabled notification

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transmitting watch back in 2006. These days, it is still trying to

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popularise the idea and has just released its latest smart watch at

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the technology show in Berlin. It is the first device to run on the new

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android wearable operating system and will compete with devices from

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Samsung among others. The Sony chief executive has acknowledged the

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limitations of the current generation of watches, recognising

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they are not powerful enough to replace the smartphone. From my

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perspective, I think that the user experience that will be generally

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accepted is a combination of eight wearable device together with what I

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would call the mothership. Whether that is a smartphone or not is a

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different story but I think that to try and incorporate everything into

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a wearable device by it self, again, looking at battery life, that is

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another limitation. Unless there are revolutionary advancements in

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technology, you will have to have a larger device with a larger battery

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that is going to do the bulk of the computing, the bulk of the

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communication, perhaps. I think it will be a combination. And,

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obviously, as technology moves on, we will be offloading a lot of the

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music onto the smart watch screen so that you won't need the smartphone

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when you go jogging. But still, the music is relayed. The library still

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resides in the smartphone. Eventually, we will be able to

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shrink a computer to something as small as your fingernail. It strikes

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me that then, the smart watch will be redundant because it will be

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bigger than you need. I think that is an evolution we will see just as

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we saw in an evolution from what we used to call feature phones. Feature

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phones to smartphones and now combinations between smartphones and

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wearables. And as technology moves on, we might go from wearables to

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something that is beyond that. It is an evolutionary says we will see

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over years. Let's talk about the new PlayStation remote play. This is a

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controller that you connect a phone to and you can stream a PlayStation

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game to your screen. It must be eight Sony phone, is that correct?

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For the time being, it has to be an exterior smartphone. Are there any

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plans to expand this to the Nexus smartphone? We want to make this an

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experience exclusive to Sony smartphones. It is part of the one

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Sony philosophy we have, where we are leveraging other businesses to

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bring an exciting experience to the customers. At some point in the

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future, we may look at X and in that, but we do not have any plans

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for such an announcement right now `` look at expanding that. And for

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more information, you can visit our website. Philips, Samsung and others

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have been fined a total of more than $180 million by the European

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Commission for fixing prices of chips used in smartphones. The

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electronic giants were found guilty of colluding on prices, contracts

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and capacity between 2003 and 2005. Phillips has rejected the charge.

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Samsung has not made any comment. Meanwhile, a joint venture between

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Hitachi and Mitsubishi avoided a fine for revealing the existence of

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the cartel. Between stolen nude celebrity pictures, payment fraud

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and hacker attacks, cybersecurity is something that concerns an

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increasing number of April. `` increasing number of people. Can

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security companies learn anything from the spy agencies? One person

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who knows is the former chief officer for the CIA. He now works in

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the private sector and is in town for a cybersecurity conference. I

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asked him earlier what the key would be to keeping things safe in the

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cyber world. It is all about your data and you have to classify it

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into different categories. Some of your data is absolutely vital to

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your corporation or your government agency, whatever you happen to be.

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That data has to be protected very differently to the rest of your

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data. How safe and secure is the Cloud? It depends on how it is

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implement it. There is not one cloud provider that is any more secure

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than another. The important thing is that the consumer of the cloud,

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whether it is a country, a bank, individual people or whatever, they

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have to take measures to protect their individual data as they put it

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in the cloud. Encryption becomes vital and with encryption comes key

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management. You have to have a robust key management system and you

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have to make sure that you have the keys in your own Corporation, rather

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than giving the keys to the cloud. What are your concerns about

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cybersecurity going forward? It is a never ending issue. It is not like

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you can do ten things and be finished forever. There will always

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be people circumventing the back stops that people put in place from

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a security standpoint. Competing power increases daily, so very poor

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encryption algorithms get broken easily. For individual users like

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you and me, what should we be aware of? That there are people out there

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who want to steal your data and who will do most anything they can to be

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able to do that so they can exploit your identity or your friends or use

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your purchasing power and things like that. Fuel economies are as

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dependent on milk, cheese and butter as New Zealand's and that could be

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bad news because dairy prices fell 6% in August. In fact, they are now

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40% lower than they were at the same time last year. Global prices have

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been falling since February and now sits near two year low levels. This

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decline is impacting the New Zealand economy. When dairy Council nearly

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one third of experts `` exports, spilt milk might be cause for a few

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tears. New Zealand has roughly as many cows as people and its exports

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nearly 90% of its dairy products. When prices slump, it is bad news.

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If low prices persist, the money that the country's dairy cooperative

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Fonterra returns to its members could be lower and that takes money

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straight out of the economy. Russian sanctions are partly to blame. They

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have begun to affect the global supply and that has had a knock`on

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effect even on the far side of the world. In particular, skimmed milk

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powder has dropped in price by more than 25% since sanctions were

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announced. Even though beef and aluminium prices partially offset

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the slump in dairy prices, the ANZ Bank's commodity price index fell by

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3.3% month on month in August. Prices for New Zealand's exports now

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sit at a 17 year low `` 17 month low. Asia has a growing economy and

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is trying to foster an investor friendly environment. How is

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Singapore doing? The city's investment body wants to attract 100

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major multinational companies to set up shop in the capital and they have

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met 40% of that target. Earlier, I spoke with the chief executive of

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the investment body, who explained more about the organisation.

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Attracting regional headquarters to Kuala Lumpur is very important

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because it is at the heart of economic activity in the region.

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When these multinational companies invest in Kuala Lumpur and in other

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cities around the region, is it a level playing field? Or are

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multinational is only allowed to open businesses that will not

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compete directly with Malaysian conglomerates? The multinationals

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are very good with engaging with the whole ecosystem. They do

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partnerships with local companies as they set up their regional

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headquarters. They do partnerships with our universities, for example.

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And they take advantage of our ecosystem as they set up their

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headquarters in Kuala Lumpur. You have business Finance, oil and gas

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companies setting up their regional hubs in Malaysia. Any particular

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sectors or skill sets the government is looking to bring in but has not

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had much success with? We are moving up the value chain. These

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initiatives create more high`value jobs, so we are constantly building

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the talent pool. The engineering space, the technology sector, the

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finance sector. We already have a large talent pool anyway, so this is

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a constant initiative from our government to build on that. Thank

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you. Thank you for investing more time with us. Goodbye for now.

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This is BBC News. Paying tribute to Steven Sotloff. The family of the

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journalist killed by militants from Islamic State say he was no hero and

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