Browse content similar to 27/11/2015. Check below for episodes and series from the same categories and more!
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Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:14. | |
tax reform since Independence. The push for a nationwide goods and | :00:15. | :00:25. | |
services tax is a key test for Narendra Modi. As the Black Friday | :00:26. | :00:29. | |
shopping spree starts and the US, we look at what it means to people | :00:30. | :00:37. | |
around the world. Welcome to this Friday's Asia | :00:38. | :00:45. | |
Business Report. Narendra Modi has appealed for a corporation from | :00:46. | :00:52. | |
opposition parties as he tries to introduce the biggest tax reform | :00:53. | :00:55. | |
since Independence. A nationwide goods and services tax is crucial to | :00:56. | :00:59. | |
his ambitions to overhaul the Indian economy. But pushing through changes | :01:00. | :01:05. | |
has become harder for the government since it lost control of the upper | :01:06. | :01:10. | |
house. Debate rages over how high it should be set. Earlier I asked why | :01:11. | :01:15. | |
it is so important. In India there are over a dozen | :01:16. | :01:25. | |
taxes between the goods being manufactured and it reaching the | :01:26. | :01:29. | |
consumers. There is a lot of room for corruption, there is procedural, | :01:30. | :01:35. | |
there is bureaucratic issues that the manufacturers have to go | :01:36. | :01:40. | |
through. It is an impediment to the economy. It gives you a completely | :01:41. | :01:48. | |
single economy that is beneficial to India. Analysts are saying that if | :01:49. | :01:56. | |
it does not pass, this would be a real blow to Narendra Modi's reform | :01:57. | :02:01. | |
agenda. What was the impact be if it does not pass? There are two types | :02:02. | :02:07. | |
of monetary system. Monetary policy and fiscal policy. The monetary | :02:08. | :02:12. | |
policy is really accommodative. It is well managed by the government. | :02:13. | :02:18. | |
The fiscal policy has to be implemented. The government will | :02:19. | :02:30. | |
struggle. FTI has been easing. Tremendous reforms have been made in | :02:31. | :02:37. | |
that area. It is not the right confidence that the investors want. | :02:38. | :02:43. | |
Do you think they will come to an agreement? My belief is they will | :02:44. | :02:52. | |
come to an agreement. Yesterday the winter session of Parliament opened | :02:53. | :02:56. | |
up. 30 out of 32 parties have agreed to support GST. They have narrowed | :02:57. | :03:09. | |
down their objections. This is the session it should be approved. And | :03:10. | :03:14. | |
how will it affect ordinary Indians? If you look at the taxes that | :03:15. | :03:21. | |
consumers end up paying, it is 20-25%. Consolidated into cheesy as | :03:22. | :03:27. | |
the new data from Japan shows consumer | :03:28. | :03:43. | |
prices have fallen as a result of energy prices. | :03:44. | :03:48. | |
Japan's economy slipped back into recession in the last quarter. On a | :03:49. | :03:54. | |
brighter note, the unemployment rate might fall in the near future. The | :03:55. | :04:00. | |
region's biggest budget airline has posted losses of close to $96 | :04:01. | :04:04. | |
million in the three months until September. The results come just a | :04:05. | :04:14. | |
day after the airline group posted eight straight quarter losses. | :04:15. | :04:20. | |
Thousands of Indonesian workers are taking part in a strike calling for | :04:21. | :04:24. | |
the repeal of new regulation that they claim will limit pay increases. | :04:25. | :04:31. | |
The president says this will prevent mass layoffs and provide security | :04:32. | :04:34. | |
for investors. Police are cracking down on protests and arrested a | :04:35. | :04:41. | |
number of workers and leaders. We caught up with one of the protesters | :04:42. | :04:47. | |
outside a factory. TRANSLATION: Workers will be | :04:48. | :04:51. | |
pressured to accept the lowest wage. This political scheme is designed by | :04:52. | :04:54. | |
the government to keep wages low for the benefit of companies. It is only | :04:55. | :05:02. | |
days until the United Nations climate change conference begins. | :05:03. | :05:07. | |
India is the world's third-largest emitter of greenhouse gases. Some | :05:08. | :05:14. | |
start-ups are trying to tackle the issue of climate change. We have | :05:15. | :05:17. | |
been to meet some of these entrepreneurs. Starting up a company | :05:18. | :05:26. | |
to solve a big drop. This man and his team have made a | :05:27. | :05:30. | |
device that fits into a vehicle to measure its commissions. How you | :05:31. | :05:35. | |
drive a car can determine how polluting it is. Toxic gases | :05:36. | :05:38. | |
released can be cut by a third if you drive efficiently. This | :05:39. | :05:44. | |
displayed all to do just that. Red is bad, green is good. They can | :05:45. | :05:49. | |
change from a thermal plant to a nuclear plan. The single most | :05:50. | :05:56. | |
contributing tactic is the cars. Unless it can do something around | :05:57. | :06:02. | |
this, we will not be able to have enough of an impact. 13 of the 20 | :06:03. | :06:07. | |
most polluted cities of the world are in India. A lot of that is down | :06:08. | :06:12. | |
to the tens of millions of vehicles on the roads committing harmful | :06:13. | :06:18. | |
gases. But poor at quality is not just another problem. In most rural | :06:19. | :06:27. | |
areas where 66% of Indians live, wood stoves are polluting and | :06:28. | :06:33. | |
hazardous. This factory is creating a stove that uses the same fuel, | :06:34. | :06:37. | |
just more efficiently, bringing down emissions by up to 70% and reducing | :06:38. | :06:44. | |
the amount of firewood needed. Consumers do not have access to | :06:45. | :06:48. | |
regular electricity. They have no cooking gas or access. This is the | :06:49. | :06:55. | |
most viable option for consumers. They do not have to change cooking | :06:56. | :07:00. | |
habits or a fuel collection habits. They do not have to spend extra. The | :07:01. | :07:07. | |
stove is just over $20. At a large part of the country's population | :07:08. | :07:11. | |
lives on less than $2 per day. For them it is simply too expensive. | :07:12. | :07:16. | |
While India is a big market for those making clean energy products, | :07:17. | :07:25. | |
it is also a tough one to sell to. Do not forget to watch India | :07:26. | :07:29. | |
business report this weekend. A special programme looking at India | :07:30. | :07:36. | |
and climate change. Today is so-called Black Friday in | :07:37. | :07:40. | |
the United States. The day after Thanksgiving. It is seen as the | :07:41. | :07:43. | |
beginning of the Christmas shopping season. It generates ruffed the $50 | :07:44. | :07:49. | |
billion of revenue each year. That would sales falling, many retailers | :07:50. | :07:55. | |
are now opening earlier or offering big promotions. | :07:56. | :08:05. | |
You can thank the United States for Black Friday. A tradition starting | :08:06. | :08:14. | |
the holiday shopping season. 87 million people rushed for a chance | :08:15. | :08:23. | |
to save big, spending $9 billion. At each year it seems retailers are | :08:24. | :08:28. | |
bringing sales out earlier and earlier to edge out competitors. | :08:29. | :08:34. | |
British retailers decided to get in on the act. One major credit card | :08:35. | :08:39. | |
company reckons he will spend nearly $3 billion in the UK today. A third | :08:40. | :08:47. | |
more than last year. Some retailers are scaling back. As the is not | :08:48. | :08:55. | |
taking part. Black Friday has not caught on. The | :08:56. | :09:02. | |
Indians have the Flash sales at head of the Bali. | :09:03. | :09:06. | |
It has been taken to a new level by online retailers. They are all | :09:07. | :09:17. | |
growing fast and values in sales to try and bring in new consumers. In | :09:18. | :09:27. | |
Hong Kong, the big day for discount shopping has already passed. Phone | :09:28. | :09:32. | |
does not celebrate Black Friday, instead it has what it calls singles | :09:33. | :09:37. | |
day. Every year on the net relevant of November, online retailers offer | :09:38. | :09:42. | |
discounts of up to 70% off of regular prices. This year at the | :09:43. | :09:48. | |
online shopping giant Aly Baba rang up purchases of more than 14 billion | :09:49. | :09:51. | |
dollars. In Brazil, Black Friday is still a | :09:52. | :10:02. | |
new thing. Many shoppers do not trust it. Some believe the prices | :10:03. | :10:08. | |
are hiked. What seems like a big discount could be a regular price. | :10:09. | :10:11. | |
Some are worried they might not getting a real bargain. | :10:12. | :10:23. | |
Looking at the markets now, they are getting little direction today from | :10:24. | :10:26. | |
Wall Street. That was closed for Thanksgiving. That is it for this of | :10:27. | :10:33. | |
Asia Business Report. Russia's agreed to work more closely | :10:34. | :10:44. | |
with France to co-ordinate | :10:45. | :10:47. |