Browse content similar to 09/02/2016. Check below for episodes and series from the same categories and more!
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The fear factor, shares in Japan are hammered with the main market | :00:17. | :00:22. | |
sinking by five percent, safe havens like gold and the yen are soaring. | :00:23. | :00:25. | |
Digging deeper, leaders from the world's top mining | :00:26. | :00:30. | |
companies gather in South Africa as their industry faces one of its | :00:31. | :00:33. | |
Also in the programme: How India's rural areas are hoping teaching | :00:34. | :00:49. | |
entrepreneurial skills will lift many out of poverty. | :00:50. | :00:55. | |
But first, the few financial markets that are open in Asia today | :00:56. | :00:58. | |
are being punished as the investors seem to be transfixed by fear. | :00:59. | :01:04. | |
In Japan the main market, the Nikkei 225 was down over percent | :01:05. | :01:07. | |
Shares in Australia are also down nearly three percent. | :01:08. | :01:14. | |
This follows heavy losses the night before on Wall Street | :01:15. | :01:16. | |
The concern about the outlook for the global economy is become | :01:17. | :01:23. | |
even more acute and now investors are dumping banking shares worldwide | :01:24. | :01:26. | |
on fears they will be exposed to a fresh economic slowdown. | :01:27. | :01:28. | |
Rico Hizon is in our Asia Business Hub in Singapore. | :01:29. | :01:44. | |
They are celebrating a new year, but the share markets are not doing so | :01:45. | :01:50. | |
well close to a bad start indeed for the year of the monkey -- so well? A | :01:51. | :02:03. | |
bad start indeed. There was a change in US stocks due to persistent | :02:04. | :02:08. | |
worries of a global economic slowdown. Oil prices were slumping, | :02:09. | :02:19. | |
and in this panic, investors are purchasing Japanese yen as it is a | :02:20. | :02:23. | |
safe net. The dollar slipped below 115 yen, its lowest level since late | :02:24. | :02:31. | |
2014. One week ago, the yen was at about 121. It has shaken the core of | :02:32. | :02:42. | |
Japanese exporters and people are worried. We are seeing that now in | :02:43. | :02:51. | |
the nick a two to five -- Nikkei 225. Exporters are also in the | :02:52. | :03:00. | |
dumps, down 5% today as they are hit by the strong yen against the | :03:01. | :03:10. | |
dollar. As we went through those figures, the European trading day | :03:11. | :03:16. | |
will start very shortly. 25 minutes to go in Japan before the close of | :03:17. | :03:24. | |
the day. The Nikkei 225 down by 5.6%. We will keep you updated. You | :03:25. | :03:28. | |
can find it online as well. Well as the global economy has | :03:29. | :03:32. | |
slowed, and notably China with demand for commodities falling, | :03:33. | :03:34. | |
one industry that has suffered The global players | :03:35. | :03:37. | |
in the industry are gathered in South Africa for the biggest | :03:38. | :03:41. | |
sector conference in the world and many are concerned about the future | :03:42. | :03:44. | |
with further job cuts likely and This graph shows the downward path | :03:45. | :03:47. | |
for prices of copper, gold The industry has had to | :03:48. | :04:06. | |
dramatically cut costs. South Africa, | :04:07. | :04:10. | |
the world's largest platinum and manganese producer, could lose | :04:11. | :04:11. | |
as many 32,000 jobs, according to Bad news for a nation with | :04:12. | :04:14. | |
unemployment above 25 percent. But one mining executive says | :04:15. | :04:22. | |
there are opportunities to be had. Like everything in this modern | :04:23. | :04:35. | |
world, there are always opportunities to reposition, | :04:36. | :04:41. | |
consolidate. These are times when it new companies merge. To be nervous | :04:42. | :04:48. | |
and new ideas, that's the model of capitalism. When it breaks, there is | :04:49. | :04:50. | |
always someone to fix it. With me is Henry Hall, Senior | :04:51. | :04:55. | |
Associate at Critical Resource. Mac has reasons to be cheerful, Rand | :04:56. | :05:08. | |
Gold came out with very strong numbers. He is right, when the chips | :05:09. | :05:16. | |
are down, there are opportunities to be had quit are absolutely. Some | :05:17. | :05:19. | |
success stories in the current market seemed to have weathered the | :05:20. | :05:25. | |
storm very well. There could be some potential acquisitions in this | :05:26. | :05:29. | |
market, it is a buyers' market. Private equity firms certainly have | :05:30. | :05:34. | |
considerable funds they are looking to deploy in the right types of | :05:35. | :05:42. | |
assets. Even perhaps companies such as Rio Tinto who have low iron ore | :05:43. | :05:49. | |
stocks may be looking as to whether they can pick up an asset or two. | :05:50. | :05:55. | |
The industry has had to restructure in a big way and cause some minds to | :05:56. | :06:03. | |
mothball. Investment in some areas has just stopped. They have had to | :06:04. | :06:07. | |
rethink their money and where they are spending it in a dramatic way? | :06:08. | :06:14. | |
Absolutely. It is a difficult time, they are under huge pressure from | :06:15. | :06:18. | |
investors to cut their building times. It has meant retrenchments, | :06:19. | :06:24. | |
cutting back projects and staff. I think one of the most important | :06:25. | :06:28. | |
thing to look to the future and think about when prices will start | :06:29. | :06:33. | |
to come up again. Will they be potentially damaging some of the | :06:34. | :06:36. | |
relationships when they need to start back up again? It takes a lot | :06:37. | :06:41. | |
of money and effort to build relationships with your stakeholders | :06:42. | :06:44. | |
to get a project off the ground. Resume and leave the countries who | :06:45. | :06:49. | |
have got it wrong, the smaller companies will basically go under? | :06:50. | :06:53. | |
Big players can manage this kind of a crisis? Absolutely. I think it has | :06:54. | :07:05. | |
been interesting so far, this mining slump has been going on for some | :07:06. | :07:09. | |
time. Banks have had to be very patient with some smaller companies, | :07:10. | :07:13. | |
allowing them to keep going in the hope that there will be a pickup. | :07:14. | :07:18. | |
Unless some of these companies get an investor soon, it will be very | :07:19. | :07:23. | |
tough for them. Thank you for your time. | :07:24. | :07:28. | |
And now for the second part in our Education series looking | :07:29. | :07:31. | |
at how governments are investing in the next generation | :07:32. | :07:34. | |
In the past few years India's become a hub for start-ups, | :07:35. | :07:42. | |
attracting billions of dollars of investment from around the world. | :07:43. | :07:44. | |
Most has been focused on the country's cities. | :07:45. | :07:46. | |
But with a majority of India's people living in rural areas, | :07:47. | :07:49. | |
what difference would teaching entrepreneurial skills to village | :07:50. | :07:51. | |
The BBC's Yogita Limaye reports from Bettiah | :07:52. | :07:53. | |
Students from the local school, out on an assignment. They are scouting | :07:54. | :08:11. | |
for entrepreneurs in the village. When they find one, they ask him or | :08:12. | :08:18. | |
her a list of questions. How did you start your business, and what | :08:19. | :08:25. | |
problems did you face? Her classmates carefully wrote down the | :08:26. | :08:32. | |
shop owner's answers. I learnt a lot about what people go through to set | :08:33. | :08:35. | |
up a business through this exercise, especially about how to | :08:36. | :08:38. | |
overcome challenges. It was part of the lesson on entrepreneurship that | :08:39. | :08:45. | |
we are being taught at school. Like this shop or the many other stores | :08:46. | :08:48. | |
along here, you would find that typically in these villages most | :08:49. | :08:54. | |
people are running farms or small businesses. If they were in exit is, | :08:55. | :09:00. | |
they would be thought of as entrepreneurs, a concept that has an | :09:01. | :09:03. | |
urban feel. A recent government campaign to encourage start-ups | :09:04. | :09:09. | |
seemed very city centric. But, about 70% of Indians live in rural areas | :09:10. | :09:17. | |
and believe that teaching entrepreneurial skills in these | :09:18. | :09:20. | |
areas could create jobs and improve lives. That is what this | :09:21. | :09:25. | |
not-for-profit organisation is trying to do. They have been taking | :09:26. | :09:30. | |
lessons in entrepreneurship in some of the poorest states. They use a | :09:31. | :09:36. | |
mix of textbooks and outdoor activities to teach students is like | :09:37. | :09:42. | |
marketing and financial planning. Entrepreneurship is basically | :09:43. | :09:49. | |
non-existent as a concept. But there are businesses which are | :09:50. | :09:54. | |
entrepreneurs. To make people realise these are of high value can | :09:55. | :10:01. | |
be related to something much bigger. It is something that is still not | :10:02. | :10:07. | |
taught at most schools, either rural or urban. But in these villages, a | :10:08. | :10:10. | |
vast majority of students would perhaps never have access to higher | :10:11. | :10:16. | |
education or management school. And so, they would probably have to | :10:17. | :10:20. | |
learn how to run a business as they go along. | :10:21. | :10:28. |