Browse content similar to 29/08/2016. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Well Asian markets follow Wall Street's lead? We are watching how | :00:10. | :00:14. | |
regional investors react to the upbeat investment forecast of the US | :00:15. | :00:20. | |
economy. And how this Indian film about a two boot subject managed to | :00:21. | :00:21. | |
get funding. -- to do. Welcome to Asia Business Report. | :00:22. | :00:33. | |
Let's start with the markets, and a look at where Asian markets have | :00:34. | :00:40. | |
started trade, especially in Japan. As you can see, it is up 2%. | :00:41. | :00:45. | |
Australia fairly flat, and we will be watching the Hang Seng in Hong | :00:46. | :00:49. | |
Kong in about an hour. All of them are taking stock of the Federal | :00:50. | :00:54. | |
Reserve chair Janet Yellen's signals that the case for an interest rate | :00:55. | :00:58. | |
rise has strengthened and she gave an upbeat assessment of the US | :00:59. | :01:02. | |
economy at Jackson hole on Friday. She gave no clarity on when the hike | :01:03. | :01:09. | |
would,, sparking volatility in US in European stock markets -- Jackson | :01:10. | :01:15. | |
Hall. How this influence trading sentiment and strategies in terms of | :01:16. | :01:20. | |
investment? The chief economist at the bank of Singapore gives me his | :01:21. | :01:24. | |
view. It is a double edged sword and everyone is happy the US economy is | :01:25. | :01:27. | |
doing well and creating jobs, but the markets have been driven by | :01:28. | :01:31. | |
cheap money, borrowing for pretty much nothing. That money has flowed | :01:32. | :01:37. | |
into bond markets and driven markets to relatively expensive levels. | :01:38. | :01:40. | |
Markets will be nervous at any signs that that cheap money era is going | :01:41. | :01:45. | |
to start to disappear. We know it is not just the Fed, we also had the | :01:46. | :01:49. | |
Japanese central bank and central banks from Europe at Jackson Hall | :01:50. | :01:55. | |
over the weekend. We know these are countries with negative interest | :01:56. | :01:58. | |
rates. Are there expectations for more? In Japan, they have a meeting | :01:59. | :02:03. | |
around the same time as the Fed at the end of the month, and the | :02:04. | :02:06. | |
governor was saying there is ample room to be easing policy. They | :02:07. | :02:10. | |
already have negative rates and huge market, but they can do more. The | :02:11. | :02:15. | |
expectation in Europe and definitely in Japan is we will see more action, | :02:16. | :02:21. | |
even as the Fed is tightening. We know there is a fairly uncertain | :02:22. | :02:25. | |
global outlook, you make the case as well as the Fed that the US economy | :02:26. | :02:28. | |
is strengthening. But the uncertain global outlook but on by unexpected | :02:29. | :02:34. | |
events like Brexit, and the upcoming US elections, where will that put | :02:35. | :02:38. | |
the cheap victory for US interest rates? It tells you they will be | :02:39. | :02:43. | |
very slow and careful in raising rates. They have been raped hikes -- | :02:44. | :02:53. | |
rate hikes, and whether we do raise them or not, it will be a gradual | :02:54. | :02:58. | |
process, back to normal. They used to say normal is to% and now maybe | :02:59. | :03:05. | |
it is as low as 2%. -- normal is as low as 3%. It does seem like a | :03:06. | :03:10. | |
normal detector. In other business news, Taiwan is sending in | :03:11. | :03:14. | |
investigators to Panama and New York to inspect the banking branches of | :03:15. | :03:18. | |
the state-run investment business mega financial. Taiwanese regulators | :03:19. | :03:24. | |
have reportedly summoned the former mega financial chairman for | :03:25. | :03:27. | |
questioning earlier this month, with the bank being fined millions of | :03:28. | :03:33. | |
dollars by a New York state regular writer for violating anti- money | :03:34. | :03:39. | |
laundering regulations. China's second largest oil refinery has been | :03:40. | :03:44. | |
hit hard by lower oil and gas prices. Net profit for the first six | :03:45. | :03:47. | |
months are at their lowest in eight years. They fell to $3 billion. That | :03:48. | :03:53. | |
is down nearly 22% compared to a year ago. And Japan and South Korea | :03:54. | :03:58. | |
have agreed to start talks on resuming a currency swap deal was | :03:59. | :04:03. | |
that the North Asian neighbours began its agreement 15 years ago but | :04:04. | :04:07. | |
it stalled after expiring early last year because of tensions between the | :04:08. | :04:11. | |
two sides. The deal lets one nation secure dollars by giving its | :04:12. | :04:15. | |
currency to the other, which acts as a cushion during times of market | :04:16. | :04:20. | |
instability. Navigating the world of personal finance can be a daunting | :04:21. | :04:27. | |
task, but one start-up is looking to signify the process in Asia. Much | :04:28. | :04:31. | |
like searching for a flight online. The boss of the company, they have | :04:32. | :04:39. | |
launched other businesses before, and we caught up with him and asked | :04:40. | :04:43. | |
what got him onto the path of being a serial entrepreneur? I have always | :04:44. | :04:49. | |
wanted to be my own boss, and I started a small business in selling | :04:50. | :04:56. | |
peanuts in Germany, and then a few years later, I worked at a company | :04:57. | :05:00. | |
that was kind of a middleman between the airline and the travel agent | :05:01. | :05:07. | |
unity. I worked for a few years and thought, there is such a huge demand | :05:08. | :05:10. | |
-- community. People will fly more and more. The way we organise it | :05:11. | :05:15. | |
here can be done better. We need to use technology. Then I moved into | :05:16. | :05:20. | |
the online travel industry and saw what was happening in the US, where | :05:21. | :05:28. | |
it technology -- a technology company at the time set up the first | :05:29. | :05:32. | |
online travel agent, and I thought, wow, I need to do that as well. Then | :05:33. | :05:37. | |
with a business partner I started to build the first online travel agency | :05:38. | :05:43. | |
in the Netherlands, and it is still the biggest travel agent, online | :05:44. | :05:49. | |
travel agent, in the Netherlands. What inspired you to start GoBear? I | :05:50. | :05:53. | |
wanted to buy car insurance, but before you buy, you want to compare | :05:54. | :05:57. | |
products. There was no comparison website for insurance and banking | :05:58. | :06:03. | |
products here. So that got me on the idea, let's start a new business | :06:04. | :06:11. | |
online and bring it to customers what is already happening in other | :06:12. | :06:15. | |
industries, to the Asian customer. What are some of the challenges you | :06:16. | :06:20. | |
face in setting this up and expanding become any? It is a news | :06:21. | :06:23. | |
business, there are always challenges. It is never easy. | :06:24. | :06:28. | |
Finding the right online talent is a big challenge. In all markets, | :06:29. | :06:34. | |
actually. And then making customers aware of the great service that is | :06:35. | :06:37. | |
out there for them, that is a challenge. And in some countries, | :06:38. | :06:43. | |
there are some regulatory obstacles, I would say, because laws have not | :06:44. | :06:50. | |
caught up with modern times. They don't have anything for Internet | :06:51. | :06:53. | |
companies. They are all all working on it, but the law has not caught up | :06:54. | :06:59. | |
yet. Finally, how did you come up with the name GoBear and that cute | :07:00. | :07:04. | |
icon you use? Of course you want a name that is short, memorable, | :07:05. | :07:09. | |
likeable, powerful, and we found that in GoBear. A new Indian | :07:10. | :07:16. | |
miniseries was released online over the weekend about two women who fall | :07:17. | :07:23. | |
in love. This in a country where gay sex is illegal, and same-sex | :07:24. | :07:25. | |
relationships are really portrayed in film. It is a subject hard to | :07:26. | :07:32. | |
make into a commercial success. We have more from Mumbai. | :07:33. | :07:42. | |
This is a story that almost never got made. The producers were not | :07:43. | :07:51. | |
sure how Indian audiences would react to a lesbian love story. The | :07:52. | :07:56. | |
initial response was very shocking for me, because the moment I said to | :07:57. | :08:02. | |
girls in Love, he is scared. He is scared he could be attacked. Finally | :08:03. | :08:12. | |
he agreed to produce, but they decided against it, but he was doing | :08:13. | :08:18. | |
it without his parents knowing. They found out and they are not OK with | :08:19. | :08:22. | |
that. This world, these will stomach she finally pitched the film on a | :08:23. | :08:27. | |
crowd funding website, went to got the money she needed, she has only | :08:28. | :08:31. | |
been able to self publish short episodes on YouTube, meaning it is | :08:32. | :08:35. | |
unlikely to make that money back. The first time a same-sex | :08:36. | :08:37. | |
relationship was portrayed in mainstream Indian cinema in 1998, | :08:38. | :08:42. | |
there were violent protests by right-wing groups. It did lead to | :08:43. | :08:48. | |
public debate on homosexuality and free speech, but 18 years later, the | :08:49. | :08:58. | |
subject is still taboo. Earlier this year, a film that dealt with | :08:59. | :09:02. | |
homophobia was released, but only online. After struggling to find | :09:03. | :09:07. | |
producers and distributed. After a positive response from viewers, a | :09:08. | :09:11. | |
sickle 's plan. There is a villain in the story. And this website has | :09:12. | :09:19. | |
been set up for people to publish stories about relationships and love | :09:20. | :09:23. | |
and says that produces and advertisers need to realise there is | :09:24. | :09:27. | |
a market. It is not something that has been incorporated into | :09:28. | :09:29. | |
mainstream media storytelling for some time now. There is a hesitation | :09:30. | :09:35. | |
about what the market is for it. Money comes more with a sense of | :09:36. | :09:41. | |
what is the market, and people with money tend to be conservative about | :09:42. | :09:44. | |
form, and only want to back that which is already known or has | :09:45. | :09:51. | |
ensured profits. Despite gay sex being illegal in India, the LGBT | :09:52. | :09:56. | |
immunity is trying to be vocal and visible, and changing technology is | :09:57. | :09:59. | |
creating new ways for them to tell their stories, but only changing | :10:00. | :10:03. | |
attitudes will make those stories financially viable as well. | :10:04. | :10:07. | |
Let's take a look at the markets. We are seeing a strong gain for the | :10:08. | :10:15. | |
Nikkei over in Japan. It is really due to the weakness in the Japanese | :10:16. | :10:18. | |
yen, which is propelling exporters higher. So the US dollar strength in | :10:19. | :10:23. | |
on those comments from Janet Yellen we told you about at the start of | :10:24. | :10:26. | |
the programme. That is it for the show. Thank you for watching. | :10:27. | :10:32. | |
The last BHS stores have closed for the final time, | :10:33. | :10:35. | |
bringing to an end nearly 90 years of trading by the retailer | :10:36. | :10:38. | |
The previous owners, Dominic Chappell | :10:39. | :10:44. | |
and Sir Philip Green, have been criticised by MPs | :10:45. | :10:47. |