15/03/2016 Asia Business Report


15/03/2016

Similar Content

Browse content similar to 15/03/2016. Check below for episodes and series from the same categories and more!

Transcript


LineFromTo

does the Bank of Japan have any more tricks up their sleeve? And, where

:00:00.:00:00.

dinosaurs are the future, we take a look inside south-east Asia's

:00:00.:00:13.

growing animation industry. Good morning, hello world. It is Tuesday,

:00:14.:00:21.

glad you could join us. We start off with the Bank of Japan, the Central

:00:22.:00:25.

Bank is set to reveal whether it will move on the costs of borrowing

:00:26.:00:29.

again after a surprise cut in January which sent rates into

:00:30.:00:35.

negative territory. The move failed to stop a rise in the young, and

:00:36.:00:39.

there is speculation the bank will expand in the coming months to

:00:40.:00:47.

counter the economy. Earlier I spoke to a representative from Capital

:00:48.:00:52.

Economics. We still think they could expand and purchase a bit more, they

:00:53.:00:58.

could cut the interest rate further into negative territory as well. We

:00:59.:01:02.

think this might happen at today's meeting. The cut in January by the

:01:03.:01:10.

Governor to negative interest rates has been very unpopular, not just

:01:11.:01:20.

with the public but with his ally, Shinzo Abe Wegelius, there has been

:01:21.:01:27.

a lot of controversy. He has spoken to the Parliament several times. I

:01:28.:01:31.

think there is some misunderstanding, people think it is

:01:32.:01:38.

very negative. It is exaggerated. That has been a small negative

:01:39.:01:45.

impact on profits, but be key is to get the economy going. And to reduce

:01:46.:01:53.

costs in the private sector. Long-term, this negative interest

:01:54.:01:56.

rate will have an impact on the economy? It will, we have seen some

:01:57.:02:04.

sharp drops in things such as copper. Also government bond yields

:02:05.:02:10.

are not doing as well, the government interest... Basically,

:02:11.:02:19.

pockets of positive change but the Japanese yen continues to strengthen

:02:20.:02:25.

against the US dollar? Yes, the recent market turmoil has caused

:02:26.:02:31.

some changes. The Bank of Japan house to restore confidence that

:02:32.:02:37.

they are in control, they will probably have too resorted to asset

:02:38.:02:41.

purchases because that seems to result in a big impact in markets.

:02:42.:02:47.

And you have Shinzo Abe setting up fresh budget spending to provide

:02:48.:02:50.

stimulus, when do you think that will happen? I think the current

:02:51.:02:57.

supplementary budget, the upper house elections will take place in

:02:58.:03:01.

July. He is trying to get a positive response from voters. The big

:03:02.:03:06.

question is whether it will delay the sales tax hike next year. We

:03:07.:03:09.

think it should, but the panel will have to make up its mind. Thank you

:03:10.:03:23.

very much. Two other Business News, China's business group has made a

:03:24.:03:27.

surprise takeover bid for the US Hotel group, Starwood. It is higher

:03:28.:03:38.

than an already agreed takeover by Marriot. They acquired a New York

:03:39.:03:52.

landmark, the Waldorf Astoria Hotel. A request has been made to ban

:03:53.:04:06.

online services to the President. Others are arguing that new

:04:07.:04:09.

technology should not be banned. Taxi companies have been lobbying

:04:10.:04:13.

the Minister to protect them. Dozens of Malaysia journalist are waking up

:04:14.:04:17.

without a job after the shop closure of the online news portal, the

:04:18.:04:25.

Malaysian Insider. The country 's regulators have said it breached the

:04:26.:04:30.

communications and multimedia act. The site lost most of its readership

:04:31.:04:40.

and advertising revenues plummeted. 52 new media sites have been blocked

:04:41.:04:43.

in the latest at the start of the year. Over the weekend, and ABC

:04:44.:04:54.

cameraman were detained for approaching Najib Razak for an

:04:55.:05:03.

interview -- two ABC cameraman. I think it could have been avoided,

:05:04.:05:09.

you just need and funds to sustain it until you get advertising to

:05:10.:05:17.

sustain it. I think our shareholders finally decided to pull the plug.

:05:18.:05:26.

They decided the company was too big to sustain. Could this move have

:05:27.:05:33.

been a suppression of freedom of speech and freedom of media? I would

:05:34.:05:41.

not blame my shareholders for that. I think there are number of,

:05:42.:05:47.

including the economy and the fact that most of the companies which

:05:48.:05:49.

advertise online are linked to the government. That is one way of

:05:50.:05:55.

controlling the media, by advertising online. You run out of

:05:56.:06:03.

options for funding. Are we likely to see more shutdowns of news

:06:04.:06:09.

websites in Malaysia, given that there is a lot of government

:06:10.:06:15.

advertising? The website which was shut down two weeks earlier, they

:06:16.:06:26.

are vocal and they say there are few other sites which will shut down.

:06:27.:06:29.

The ones that remain will have to look at their business model and cut

:06:30.:06:34.

their reliance on shareholders if they want to continue. That was our

:06:35.:06:41.

representative from the Malaysian Insider. This story is one for of

:06:42.:06:50.

all ages. Anybody who watched Tom and Jerry, Pokemon, and so it -- and

:06:51.:07:03.

such animations, they will remember how successful it is. We went behind

:07:04.:07:06.

the scenes of a single more animation production set to find out

:07:07.:07:13.

why they are so popular. It is a friendly tale of prehistoric folk in

:07:14.:07:16.

their time travelling adventures. Dinosaur train, made by American and

:07:17.:07:21.

Singaporean production teams is the latest in a long line of animated

:07:22.:07:26.

success stories. The writers maybe halfway across the world in the US,

:07:27.:07:31.

but the on screen at work starts here. The first story is from our

:07:32.:07:40.

partner, Jim Henson. Trains and dinosaurs are always a favourite

:07:41.:07:47.

with kids. Transportation, a dinosaur, it is always a good topic.

:07:48.:07:53.

Now we have a chance to write it. We put the elements altogether into a

:07:54.:08:00.

dinosaur train. For nearly 40 years, Western Studios have established and

:08:01.:08:05.

maintained production facilities in Japan and then across South-East

:08:06.:08:08.

Asia. It is estimated that around 90% of all American animation is

:08:09.:08:14.

co-produced in Asia. There is a reason, they say. Asian creativity.

:08:15.:08:25.

When they look for a partner, people might have a misunderstanding that

:08:26.:08:34.

they only use costing all prices as the only factor, or at least the key

:08:35.:08:39.

factor to decide. That is true to a certain extent, but for high-quality

:08:40.:08:45.

products, no. The coproducers look for reliability, and whether the

:08:46.:08:53.

party can contribute creatively. In a highly creative and competitive

:08:54.:08:59.

marketplace, animation companies, and go, not just in South-East Asia

:09:00.:09:04.

but across the globe. It is really a case of survival of the fittest.

:09:05.:09:12.

With series four of this reduction in progress, producers look for

:09:13.:09:14.

inspiration around the world. The Asian animation industry could

:09:15.:09:26.

appear to be far from extinct. The Asian stock markets. Investor

:09:27.:09:36.

sentiments are generally weak. Wall Street trading was quite weak. We

:09:37.:09:47.

are awaiting a decision from the Bank of Japan on monetary policy.

:09:48.:09:56.

Thank you for investing your time with us.

:09:57.:10:02.

Download Subtitles

SRT

ASS