19/01/2017 Asia Business Report


19/01/2017

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

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As US President-elect Donald Trump prepares to take the helm we find

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out what businesses in Asia are expecting. From the air to do some

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fun empire is granted a -- the edge of the Samsung empire is granted a

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reprieve for his role in the countries of scandal. Good morning

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and welcome to Asia Business Report live from Singapore. With just two

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days left until Donald Trump is sworn in as the 45th president of

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the United States and dad deeply divisive figure means that many are

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now looking at his cabinet picks resident bodies policies will be.

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Earlier a billionaire investor said their top priority is to re-

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negotiate another the trade deal with Canada and Mexico. The

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President-elect has made no secret in his public remarks, nor have I in

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earlier remarks during the campaign that NAFTA is logically the first

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thing for us to deal with. We are to solidify relationships in the best

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way we can in our own Territorian or four we go off to other

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jurisdictions. So I think that should be, and hopefully will be if

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I am confirmed, a very early topic in this administration. That for

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many business leaders that a presidency heralds a new era of

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uncertainty. And despite him being the author of the art of the deal

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many believe that the global mergers may be harder to come by. Earlier I

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spoke to a representative of Price Waterhouse Cooper. We have a few

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years of very good singing, liquidity in the market and

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political in a comic -- economic certainty. Now we are seeing some

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political change. Brexit and indeed as we go into a new president period

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there is a degree of uncertainty. Having said that, the Trump policy

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as stated so far appear to be friendly to deals. The regulation,

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tax reduction and stimulus and investment in energy and

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infrastructure and other areas. But in speaking to investors that we

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expect there to be hesitancy and pause. I think there is a great

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belief, and we have that as well, it in the US. It will be a pause rather

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than an impact and we will see a big return to buoyancy and investment

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levels. We have heard from some businesses voicing concerns but

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could this be an opportunity for some Asian countries? No doubt.

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Certainly by reference to investment in areas where we expect stimulus

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from the UK or the US economy. And then if you look to where the money

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may flow, this is where the investment in Asia will come

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through. In India, Japan, Singapore, over the last six weeks you feel a

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audience in terms of opportunity there. For different reasons- stable

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politics in India, an aggressive look at portfolios in Japan and an

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opportunity for private equity across the region to get more

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involved. We think we will see an uptake in investment across the

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Asian region, probably with one caution- outbound investment from

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China may slow but otherwise it is very positive about the Asian

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market. Staying with the United States Janet Yellin says that the US

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economy is healthy enough for the central bank to raise its benchmark

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interest rates a quote, a few times a year through 2019. During a speech

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on Wednesday she said the exact timing of interest rate hikes will

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depend on how the economy is doing. She said that policymakers are

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getting closer to their goals of full employment and stable

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inflation. The head of the International Monetary Fund said

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that despite the UK economy doing better than expected after last

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year's decision to leave the European Union it will still suffer

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from the split. Her comments come after the Prime Minister Theresa May

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laid out her negotiating terms with the EU. In her comments, the IMF

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said that any deal with the EU will not be as good as membership. When

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you belong to a club, whatever that club is beat sport or intellectual

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or whatever, the members of the club have a degree of affinity and terms

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under which they operate. Somebody outside the club, sport or

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intellectual or whatever, have different access. Meanwhile the

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Foreign Secretary Boris Jenson is warning the European Union not to

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punish Britain for its decision to leave the economic bloc. He made the

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controversial comment while on a trip to India. If Mr alarmed that

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wants to issue punishment beatings to anyone who chooses to escape in

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the manner of some World War Two movie is and I think, I do not think

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that is the way forward. It is not actually in the interest of our

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friends and our partners. A South Korean court has rejected an arrest

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warrant for Jay Y Lee. Prosecutors have accused him of bribery,

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embezzlement and perjury in connection to a scandal which led to

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the impeachment of the country's president. Samsun has denied any

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wrongdoing. Earlier I asked if people were surprised by the

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verdict. The public had been divided about what might happen. For most

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part I think there would be enormous relief from the part of Samsun. The

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last 24 hours have been one of the longest days for Jay Y Lee. At the

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city jail the head of South Korea's biggest company was asked to wait

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throughout the night until the court came to a decision about his arrest.

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Early in the morning the judge said there was a lack in justification to

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put Mr leave behind bars and ordered his release. Just before day lay he

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was seen walking out of jail was a slight smile. -- just before

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daybreak. Lacking justification. Could that be because of the

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possible impact on Samsun's reputation and performance which, of

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course, plays a huge part in the economy of South Korea? This may not

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be the end of problems for the chief of Samsun. The company has been

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accused of bribery and he may still need to face a trial if prosecutors

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decide to press charges. The allegation is that Samsun gave

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millions of dollars in return for the votes of the national pension

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fund in a big and contested restructuring of the company. In the

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meantime, Mr these days as a free man. So can prosecutors continue

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pursuing him? Samsung has continuously denied the bribery

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charges and the position is that contributions have been made but was

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not in order to receive favours. Bribery is not an easy crime to

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prove under Korean law. Neither is putting rich family members of

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conglomerates into jail for wrongdoing. Despite criminal charges

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and convictions, no family member of Samsun has ever served jail term. --

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Samsun. Shares opened higher than 2% in May continue to trade strongly.

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Shares in Netflix jumped over 8% in US training -- trading it to make

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meeting a new high. The media streaming service has been producing

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more original shows and focusing on expanding globally. That is held

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Netflix sign up a record 7 million new subscribers. The majority of

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them from outside the United States. Goldman Sachs still has the golden

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touch. The investment bank saw profits triple in the fourth

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quarter. Its trading activity got a major boost after Trump's election

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spurred a stock market rally. Manchester United has overtaken

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reality that to become the richest football team in Europe. The last

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time they held the title was over a decade ago. According to a

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consultancy in Manchester United raked in over $700 million last

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season. Now here is a story for all of you train fans. After over two

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weeks crossing two continents the first-ever for a train travelling

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direct from China to the UK has arrived in London. It is part of

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China's drive to develop trade and investment ties with Europe. London

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is the 15th European city to join what the Chinese government referred

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to as the new silk Route. Lets show you the pictures of the

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train pulling into the station just outside London. The train trip takes

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about half the time of a sea journey.

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You are watching BBC News. The headlines for you this our-at his

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final news conference President Obama said he will continue to speak

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out to defend what he called core values are after he leaves

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