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last week. Now on BBC News, all the latest | :00:00. | :00:17. | |
business news live from Singapore. Connecting the smartphone to a game | :00:18. | :00:22. | |
console. We bring you the latest technology from a trade show in | :00:23. | :00:26. | |
Berlin. Dependent on milk. How the rise and fall of global dairy prices | :00:27. | :00:32. | |
are impacting the New Zealand economy. | :00:33. | :00:40. | |
Thank you for joining us. Japan's Sony was one of the first | :00:41. | :00:44. | |
technology companies to release a Bluetooth enabled notification | :00:45. | :00:50. | |
transmitting watch back in 2006. These days, it is still trying to | :00:51. | :00:56. | |
popularise the idea and has just released its latest smart watch at | :00:57. | :01:02. | |
the technology show in Berlin. It is the first device to run on the new | :01:03. | :01:06. | |
android wearable operating system and will compete with devices from | :01:07. | :01:12. | |
Samsung among others. The Sony chief executive has acknowledged the | :01:13. | :01:16. | |
limitations of the current generation of watches, recognising | :01:17. | :01:21. | |
they are not powerful enough to replace the smartphone. From my | :01:22. | :01:29. | |
perspective, I think that the user experience that will be generally | :01:30. | :01:32. | |
accepted is a combination of eight wearable device together with what I | :01:33. | :01:37. | |
would call the mothership. Whether that is a smartphone or not is a | :01:38. | :01:41. | |
different story but I think that to try and incorporate everything into | :01:42. | :01:46. | |
a wearable device by it self, again, looking at battery life, that is | :01:47. | :01:51. | |
another limitation. Unless there are revolutionary advancements in | :01:52. | :01:55. | |
technology, you will have to have a larger device with a larger battery | :01:56. | :01:58. | |
that is going to do the bulk of the computing, the bulk of the | :01:59. | :02:03. | |
communication, perhaps. I think it will be a combination. And, | :02:04. | :02:09. | |
obviously, as technology moves on, we will be offloading a lot of the | :02:10. | :02:13. | |
music onto the smart watch screen so that you won't need the smartphone | :02:14. | :02:17. | |
when you go jogging. But still, the music is relayed. The library still | :02:18. | :02:22. | |
resides in the smartphone. Eventually, we will be able to | :02:23. | :02:26. | |
shrink a computer to something as small as your fingernail. It strikes | :02:27. | :02:31. | |
me that then, the smart watch will be redundant because it will be | :02:32. | :02:36. | |
bigger than you need. I think that is an evolution we will see just as | :02:37. | :02:39. | |
we saw in an evolution from what we used to call feature phones. Feature | :02:40. | :02:44. | |
phones to smartphones and now combinations between smartphones and | :02:45. | :02:49. | |
wearables. And as technology moves on, we might go from wearables to | :02:50. | :02:57. | |
something that is beyond that. It is an evolutionary says we will see | :02:58. | :03:02. | |
over years. Let's talk about the new PlayStation remote play. This is a | :03:03. | :03:06. | |
controller that you connect a phone to and you can stream a PlayStation | :03:07. | :03:11. | |
game to your screen. It must be eight Sony phone, is that correct? | :03:12. | :03:16. | |
For the time being, it has to be an exterior smartphone. Are there any | :03:17. | :03:22. | |
plans to expand this to the Nexus smartphone? We want to make this an | :03:23. | :03:28. | |
experience exclusive to Sony smartphones. It is part of the one | :03:29. | :03:33. | |
Sony philosophy we have, where we are leveraging other businesses to | :03:34. | :03:37. | |
bring an exciting experience to the customers. At some point in the | :03:38. | :03:40. | |
future, we may look at X and in that, but we do not have any plans | :03:41. | :03:48. | |
for such an announcement right now `` look at expanding that. And for | :03:49. | :03:52. | |
more information, you can visit our website. Philips, Samsung and others | :03:53. | :04:00. | |
have been fined a total of more than $180 million by the European | :04:01. | :04:04. | |
Commission for fixing prices of chips used in smartphones. The | :04:05. | :04:08. | |
electronic giants were found guilty of colluding on prices, contracts | :04:09. | :04:16. | |
and capacity between 2003 and 2005. Phillips has rejected the charge. | :04:17. | :04:23. | |
Samsung has not made any comment. Meanwhile, a joint venture between | :04:24. | :04:29. | |
Hitachi and Mitsubishi avoided a fine for revealing the existence of | :04:30. | :04:36. | |
the cartel. Between stolen nude celebrity pictures, payment fraud | :04:37. | :04:40. | |
and hacker attacks, cybersecurity is something that concerns an | :04:41. | :04:46. | |
increasing number of April. `` increasing number of people. Can | :04:47. | :04:51. | |
security companies learn anything from the spy agencies? One person | :04:52. | :04:55. | |
who knows is the former chief officer for the CIA. He now works in | :04:56. | :05:04. | |
the private sector and is in town for a cybersecurity conference. I | :05:05. | :05:09. | |
asked him earlier what the key would be to keeping things safe in the | :05:10. | :05:17. | |
cyber world. It is all about your data and you have to classify it | :05:18. | :05:21. | |
into different categories. Some of your data is absolutely vital to | :05:22. | :05:24. | |
your corporation or your government agency, whatever you happen to be. | :05:25. | :05:29. | |
That data has to be protected very differently to the rest of your | :05:30. | :05:37. | |
data. How safe and secure is the Cloud? It depends on how it is | :05:38. | :05:45. | |
implement it. There is not one cloud provider that is any more secure | :05:46. | :05:50. | |
than another. The important thing is that the consumer of the cloud, | :05:51. | :05:54. | |
whether it is a country, a bank, individual people or whatever, they | :05:55. | :05:59. | |
have to take measures to protect their individual data as they put it | :06:00. | :06:03. | |
in the cloud. Encryption becomes vital and with encryption comes key | :06:04. | :06:08. | |
management. You have to have a robust key management system and you | :06:09. | :06:12. | |
have to make sure that you have the keys in your own Corporation, rather | :06:13. | :06:17. | |
than giving the keys to the cloud. What are your concerns about | :06:18. | :06:22. | |
cybersecurity going forward? It is a never ending issue. It is not like | :06:23. | :06:26. | |
you can do ten things and be finished forever. There will always | :06:27. | :06:31. | |
be people circumventing the back stops that people put in place from | :06:32. | :06:35. | |
a security standpoint. Competing power increases daily, so very poor | :06:36. | :06:44. | |
encryption algorithms get broken easily. For individual users like | :06:45. | :06:49. | |
you and me, what should we be aware of? That there are people out there | :06:50. | :06:55. | |
who want to steal your data and who will do most anything they can to be | :06:56. | :06:58. | |
able to do that so they can exploit your identity or your friends or use | :06:59. | :07:04. | |
your purchasing power and things like that. Fuel economies are as | :07:05. | :07:10. | |
dependent on milk, cheese and butter as New Zealand's and that could be | :07:11. | :07:14. | |
bad news because dairy prices fell 6% in August. In fact, they are now | :07:15. | :07:20. | |
40% lower than they were at the same time last year. Global prices have | :07:21. | :07:24. | |
been falling since February and now sits near two year low levels. This | :07:25. | :07:29. | |
decline is impacting the New Zealand economy. When dairy Council nearly | :07:30. | :07:36. | |
one third of experts `` exports, spilt milk might be cause for a few | :07:37. | :07:41. | |
tears. New Zealand has roughly as many cows as people and its exports | :07:42. | :07:46. | |
nearly 90% of its dairy products. When prices slump, it is bad news. | :07:47. | :07:51. | |
If low prices persist, the money that the country's dairy cooperative | :07:52. | :07:56. | |
Fonterra returns to its members could be lower and that takes money | :07:57. | :08:00. | |
straight out of the economy. Russian sanctions are partly to blame. They | :08:01. | :08:05. | |
have begun to affect the global supply and that has had a knock`on | :08:06. | :08:09. | |
effect even on the far side of the world. In particular, skimmed milk | :08:10. | :08:13. | |
powder has dropped in price by more than 25% since sanctions were | :08:14. | :08:18. | |
announced. Even though beef and aluminium prices partially offset | :08:19. | :08:23. | |
the slump in dairy prices, the ANZ Bank's commodity price index fell by | :08:24. | :08:30. | |
3.3% month on month in August. Prices for New Zealand's exports now | :08:31. | :08:35. | |
sit at a 17 year low `` 17 month low. Asia has a growing economy and | :08:36. | :08:41. | |
is trying to foster an investor friendly environment. How is | :08:42. | :08:49. | |
Singapore doing? The city's investment body wants to attract 100 | :08:50. | :08:53. | |
major multinational companies to set up shop in the capital and they have | :08:54. | :08:58. | |
met 40% of that target. Earlier, I spoke with the chief executive of | :08:59. | :09:04. | |
the investment body, who explained more about the organisation. | :09:05. | :09:08. | |
Attracting regional headquarters to Kuala Lumpur is very important | :09:09. | :09:14. | |
because it is at the heart of economic activity in the region. | :09:15. | :09:18. | |
When these multinational companies invest in Kuala Lumpur and in other | :09:19. | :09:23. | |
cities around the region, is it a level playing field? Or are | :09:24. | :09:27. | |
multinational is only allowed to open businesses that will not | :09:28. | :09:29. | |
compete directly with Malaysian conglomerates? The multinationals | :09:30. | :09:36. | |
are very good with engaging with the whole ecosystem. They do | :09:37. | :09:40. | |
partnerships with local companies as they set up their regional | :09:41. | :09:44. | |
headquarters. They do partnerships with our universities, for example. | :09:45. | :09:48. | |
And they take advantage of our ecosystem as they set up their | :09:49. | :09:53. | |
headquarters in Kuala Lumpur. You have business Finance, oil and gas | :09:54. | :09:56. | |
companies setting up their regional hubs in Malaysia. Any particular | :09:57. | :10:02. | |
sectors or skill sets the government is looking to bring in but has not | :10:03. | :10:08. | |
had much success with? We are moving up the value chain. These | :10:09. | :10:10. | |
initiatives create more high`value jobs, so we are constantly building | :10:11. | :10:15. | |
the talent pool. The engineering space, the technology sector, the | :10:16. | :10:21. | |
finance sector. We already have a large talent pool anyway, so this is | :10:22. | :10:25. | |
a constant initiative from our government to build on that. Thank | :10:26. | :10:30. | |
you. Thank you for investing more time with us. Goodbye for now. | :10:31. | :10:45. | |
This is BBC News. Paying tribute to Steven Sotloff. The family of the | :10:46. | :10:51. | |
journalist killed by militants from Islamic State say he was no hero and | :10:52. | :10:52. |