01/03/2017 Asia Business Report


01/03/2017

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

:00:00.:00:13.

Charged with bribery and in person, what is next for Samsung's Acura

:00:14.:00:28.

three Bass we find out about Berri Speirs can deliver a crispy cream!

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Hello and welcome. Arrested, handcuffed and in jail, the heir to

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the South Korean big business has been charged with bribery and

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embezzlement. Lee Jae-yong is accused of paying nearly $40 million

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in bribes were confident of President Park Geun-hye in return

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for political favours. For other Samsung executives face charges as

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well. What we now have got is 17 people formally and dieted, formally

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accused of serious crime by the prosecutor, including the top man in

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Samsung. That is a serious business. If when he goes to trial he is found

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guilty, he could be sentenced to something like 20 years in jail. I

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have to say, these are allegations, unproven allegations, and all the

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people involved including the lead. But it is a serious business. A

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daughter, the daughter of the friend of the President received favourable

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treatment in university, for example. Not from Samsung but the

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university. But the note of this is an allegation that JY Lee met the

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president of this country one on one, just the two of them, and they

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agreed that if Samsung pay nearly $40 million to a friend... Affirm of

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a friend of the President, the weight of the fund would go behind a

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merger of some sank which would help the ruling family. The prosecutor

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has put some pretty eye watering figures on this. The prosecutor

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alleges that this deal benefited shareholders in Samsung to the tune

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of 700 million dollars so we are talking big bananas. Investors in

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the US and around the world have had a chicory start to the week. Looking

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ahead to the key speech by Donald Trump in just about half an hour or

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so. So what can we expect? This is a real chance for President Trump to

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speak directly to the American people and with regards to what we

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are going to hear about the economy, we are expected to hear a lot of the

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same priorities we heard in the Shafiq from the President. --

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initially. That he wants to bring jobs back and make America great

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again. If people are looking for specifics, we are not expecting to

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hear too many but he will highlight the priorities for the

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administration- the repeal of the Obamacare, he will also be talking

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about infrastructure spending deal and the importance of trying to get

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America's roads and bridges fixed. When you look at the working

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relationship between President Trump and Congress and the budgetary

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priorities he is setting forth, it may be a tough ride going forward.

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The latest economic figures from Australia so the economy has

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returned to growth after contracting last quarter growing at 2.2% and

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1.1% for the quarter. It extends the 25 year run without a recession.

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Speaking of economic growth in India, figures have defied

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expectations as well. The GDP grew at 7% for the last quarter despite

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the negative effect to remove the country 's biggest bank notes from

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circulation. It is down slightly from the previous quarter but India

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is still the world 's fastest growing economy. Known as a popular

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in many parts of Asia but they have not made a big impact in Hong Kong.

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Crispy cream tried to take a bite out of the market but they failed

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and now a new wave of day makers are confident they have a winning

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recipe. At the buttery factories some of the top sellers are custard

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tart and even bacon and maple syrup. Which comes with a squirt it you

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will self syringe. Diana the key is photogenic. People like unusual

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Fages. They like to take a picture before they eat it. -- unusual

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flavours. How about an covered Jackie Cheung. Trendy flavours and

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trendy names have helped the company expand across the region. The

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franchise has nearly 300 stores across Asia. Its latest target Hong

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Kong when it is selling thousands of doughnuts every day. Hong Kong is

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accessed with eating, consumers bought more than $500 million worth

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of goods. But bigger than a Brandt have failed before. US chain, Kristy

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Kreme only lasted two years here. Laws make it difficult for foreign

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food companies to succeed here. Also they need to adapt to the local

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palate. They do not generally like very sweet desserts. Either fruit or

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nut based. It is confident they can do well in Hong Kong. We did

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sampling cert we made sure what people wanted, may be less sweet,

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more strong coffee flavour so we did a few adjustments. Tasty and

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Instagram weren't there, do not store is will need to stay creative

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to keep customers hungry for more. From doughnuts to the mentored

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reality game Pokemon Go - do not say we do not bring it the fun stories!

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People around the world essentially chaste character is like these are

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overlaid in surrounding but can the company maintain its success. We

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spoke to the man behind Pokemon Go. Last summer and extra green craze

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swept around the world which saw lots of people out with their mobile

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phones hunting for Pokemon. It has faded a little since then that there

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are still Pokemon to be found out and about here at the Barcelona

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mobile world congress and I found the inventor of the game, and who

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has changed views of augmented reality. Did you have any concept of

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how big the game was going to be when it launched? I wish I could

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have rejected that. Obviously not, it was a huge surprise. We spent a

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long time looking at the service going haywire. It was hard for us

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just to keep the system operating. In San Francisco there was a 9000

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person spontaneous Packer man event so it was a very surreal stock --

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Pokemon. Has faded? It exploded on social media, it had a life of its

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own and now it has become a successful product but not at that

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level of frenzy. It is one of the most used mobile apps out there

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still. Are you betting that dented reality is going to be a more

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profitable? V our is much more of a cinema like experience, cutting

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yourself off from the world. -- virtual reality. It is for a fine it

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period of time. But with augmented reality you have it all day long.

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You can do more things, more convenient. To you still play the

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game yourself? I did caption one earlier. I was out with my son, he

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is ten years old, and we were out capturing together in the park. It

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is a great thing to do with your family. A very quick look at the

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markets before we go... The BK is up considerably ahead of the crucial

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speech from Donald Trump. Thanks for watching. --

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