24/06/2013 World Business Report

under-age prostitutes and abused his powers to cover it up. If found

guilty, he faces a sentence of up to six years. Now it is down for

US Secretary of State John Kerry arise in India as tensions over

visas and foreign investment grow. Bangladesh's central bank chief

defends the country's garment industry in the wake of the Rana

Plaza disaster. A very warm welcome to you. This is World Business

Report. In Just a Minute, an exclusive interview with the head

of the Bangladeshi central bank. First, John Kerry meets India's

Prime Minister on Monday. On the agenda will be barriers blocking US

firms have invested in India. The Indian Prime Minister will also

raised concerns about US Immigration Reform. Plans by US

lawmakers to overhaul temporary working visas could make it harder

for Indians and other expatriates to find jobs in the US. This man is

a long way from home. He was born and raised in India. He has a

master's in computer science which she studied in American classroom.

Like hundreds of other highly educated foreigners, he is waiting

to find out if he can stay here on a temporary work permit for skilled

workers four-star or my God, if I don't get in, what happens?

workers. Oh my God. Added to get a good job. The company might not be

able to keep me up a do not have a visa. You would have to leave. Yes.

Barack Obama has highlighted American companies started by

immigrants. They started here and stayed here. Instagram was started

with the help of an immigrant. Without access to foreign talent,

this technology expert warns that the US will lose out in this

competitive world. The tech industry is going through a

renaissance. We must have talent that understands the tech industry

and had to use technology. -- how to use. We must compete with other

countries around the world who are already doing this. This company

helps build mobile games. There is a shortage of local talent. They

have hired overseas staff. The founder uses Skype to chat to his

team in Poland. We have been forced overseas. People talk about

outsourcing. We are a small company. We are forced to outsource instead

of hiring local talent. The talent overseas is better than what we

have here. The legislation has proved controversial. Protests as

the bill was discussed. individuals who are protesting will

be removed immediately. There are plenty of people who want this to

pass. Unemployment is above 7.5 %. Anyone importing cheap labour into

America will meet with resistance. As we have been hearing, for this

is African President Nelson Mandela is critically ill. -- former South

African president. Barack Obama will visit the country this week.

It is a tour intended to strengthen ties across the Continent. Six of

the fastest 10 growing economies in the world -- the 10 fastest growing

economies in the world are in Africa. Our correspondent joins me

now. Good to see you. Thank you for coming in. What is Barack Obama

hoping to achieve on this is it? A combination of things. Economic

engagement is a big part of it. Very high-profile visits from the

Chinese leadership. The US has lagged behind. There is not much of

a bilateral relationship. It is being pushed strongly. That would

be a key part of it. Looking at the country's that Barack Obama is

visiting, it is about strengthening bilateral relationships.

How far does the US lag behind China? In terms off development in

Africa? And the last decade or so, we have seen the extent of Africa-

China trade ballooning. Since 2003, it has gone up 25 % every year. US-

Africa trade has only grown at 8%. A lot more slowly. Let's talk about

Nelson Mandela and his legacy in terms of the effect he has had and

the economy for both South Africa and Africa as the home. He is a

huge icon across the region. For much of his time in office,

economic policy was left to his teams. Since the economic crisis,

there has been a lot of revisiting of that. There are thinking about

what Africa needs to propel it forward. There is no question that

his impact has been leaving that very show strong part of economic

policy. Thank you for your thoughts. The Governor of the Central Bank of

Bangladesh has insisted the Rana Plaza building collapsed in which

over 1,000 people were killed was a one-off and will not hold back the

country's booming garment trade. He told her chief correspondent that

foreign buyers would need to work with factories and trade unions to

improve conditions for workers. There are 5,000 factories in

Bangladesh. Maintaining governors for all of them is a big challenge.

Unfortunately, this happened at one of the buildings. Most of the

factories in Bangladesh are compliant. There are a few which

are not. Unfortunately, this has happened. Look at the response. The

response was pretty positive. Everybody in Bangladesh responded

to the Rana Plaza her. To what extent do you think foreign

countries should play a bigger role in helping to resolve some of these

issues? The buyers are also going to have

to rethink. If you pressurise too much for cheaper products, some of

the countries do not have ways to improve their compliance. This

realisation is coming all around the world. Bladed to improve. There

is a commission that has been set up. -- we need to improve. We are

all working. If they can improve the wages, that would be a start.

Bangladesh got do what they can in terms of poverty reduction. This is

happening because women are coming out of the houses and working in

the factories. We should allow them to continue to work in a better

environment. Let's bring you some other news note. The heads of 15 of

the world's biggest banks had their pay cut by an average of 10 % last

year. Bank profits fell by one- fifth. In previous years, bankers

continued to award themselves large bonuses despite falling profits,

sparking a shareholder revolt and public outrage. The markets, over