05/11/2015 Asia Business Report

Now on BBC News: All the latest business news live from Singapore.

A friend request to investors. Facebook beats expectations in its

third-quarter results. And, fish doubt. Could Asia's love of seafood

make it vanish forever? Welcome to Asia Business Report. I

am in Singapore. Facebook has announced quarterly results and the

social media giant as investors clicking the like button. --

investors. Their profits jumped 11%, nearly $900 million. Their

revenue has soared. The number of active monthly users also hit over

one and a half billion people. 14% more than a year ago. Early iceberg

to our correspondent in New York. -- I spoke to. Despite Oculus Rift and

Messenger, they have soared. This is because of their Mabil

advertisements. Get accounts for 78% of their revenue. -- mobile. Clearly

there investments in mobile are paying off. Despite shrinking growth

talk and it is younger user base, if you look at the daily figure of

people using Facebook there are more than 1 billion checking Facebook

everyday. -- its. That helps with advertisement sales. At 14% increase

from last year. Myanmar head to the polls this weekend in the first

openly contested election in 25 years. Their economy is opening up

as well with growth over 8%. The majority of the population still

lives in rural areas though. So our business is outside the major cities

seeing the benefit as well? We report from a village one hour out

of the capital. An afternoon delivery, all the way from the city.

Suddenly, consumerism arrives in Myanmar's villages. More than two

thirds of the population live in the countryside, that is by companies

like Unilever want a piece of the rural market. -- why. But it isn't

easy. I asked how this man's is this has changed as the economy has

grown. -- business. I have been working 1.5 years. Travelling to

villages... It is very telling. When you go to rural Myanmar you can

definitely feel a difference. Where do you feel it? When I walk down the

streets and see there are more numbers of outlet that want to do

business. I see a difference in the products that we sell in the

outlets. -- outlets. More premium sachets. People are wanting to buy

better products and a yearning for better quality. At a time and it's

history when it opened up it was good and then it closed down again.

-- are. -- its. Do you think and could close down again? We think it

will not go back. -- you think it will close down again? We are one of

the first businesses that did that. If you see from 2010 until now,

things have been moving forward. People can argue it is slowed, but

certainly forward. But it is still under sanctions. How do you as an

international company navigate yourself in this environment?

Compared to a normal market it takes a bit more work. But we do take the

right step. We look at the sanction list and what is happening on it

appeared if we are going to do business with someone new we check

who they are. -- on it. That is what we do. I don't think doing business

in Myanmar is that difficult. Is it tough? Yeah. Indonesia puts out its

scorecard for economic growth later today with third-quarter dates are

expected to be better than the last quarter when the economy grew at its

slowest rate in six years. -- data. Will the president's efforts work? I

am joined by a representative of Oxford Economics. Tell us what you

are thinking about. I am not optimistic the mud but there is

definitely some acceleration in growth expected. -- optimistic,. We

know that the president has reach up and his Cabinet, tried to

restructure the economy. -- restructured. Are the benefits

working? When will we see it? That is a good question. Indonesia is a

difficult economy in terms of the political system is. All the

regulations are made at a central level. -- systems.

regulations and to implement that. This is nothing we have seen in the

past. A huge gap between policy formulation and implementation.

challenges going forward, to have this new team, something that Joko

Widodo did recently, making sure they can work together to deliver on

what is expected. How much confidence does the government

inspire? I know they are trying to restructure the economy, but of

course, critics around the region have been particularly annoyed by

the haze. The inability to prevent this recurring problem of illusion

that black is the whole region. Does that inspire confidence? --

blankets. You are right to point that out. It is a huge factor that

hasn't been taken care of. The economy will take a bit of a hit

because of it. Having said that, I don't think the government has been

able to give confidence even to its own people. Absolutely. Others said,

bureaucracy and red tape is working through these things. Having the

budget allocated for something like this to be disbursed for the right

purpose is the right way to go. Thank you for joining us today.

Asia's love of seafood is well known but a growing appetite means that

some fish species are close to extension, especially in the South

China Sea. But because of territorial disputes Asian

governments are not working together to prevent overfishing. We report

from Hong Kong. Here in Hong Kong, seafood is a huge part of the eating

culture. No celebration is complete without serving fish, ideally, one

that was swimming just a few minutes before. People here it's more than

150 lbs of seafood every year. eat more. That is 100 times the

global average. This insatiable appetite is leading to intense

overfishing. This man has been fishing here in the South China Sea

for more than 35 years and he has been first-hand the effects of

unsustainable practices. TRANSLATION: The number of fishing

boats in the South China Sea has jumped from 70,000 to 700,000. It is

ten times more than it used to be. So there is a huge change. Mainland

China's economy has taken off and many of the fishermen go to the

South China Sea for fishing. How has that affected the fish? There are

more boats, so, of course there are less fish. And each fishermen

less catch. -- fisherman. Sustainable practices are better

because there will be more for everyone. In some countries, small

fish are not allowed to be taken and this can stop overfishing. A study

by the British Columbia University shows that the price of shrimp will

become three times more expensive is no strategies are taken. What has to

be done now to tackle the problem of overfishing? This is a critical

issue. The government in the region really need to work together to

manage their fisheries. -- governments. There are over 3

million people a day that make their livelihoods in fishing. All of this

will be gone if we do not manage it seriously. There will be serious

social and economic consequences in the region if we do not manage it

well. Juliana Liu reporting in Hong Kong. Let's look at the markets are

be most Asian shares have open. The Nikkei is unusually continuing to

extend gains from yesterday despite the forces overnight from Wall

Street. Remember, we saw the strong debut by very Japan-based jazz which

surged on Wednesday. -- Japan Post shares. -- three. That is it for

Asia Business Report. And people watching.

Britain has said there's a significant possibility that

the Russian airliner that crashed in Egypt on Saturday was brought