:00:00. > :00:00.passed to it by the Sun on Sunday newspaper. Now on BBC News all the
:00:00. > :00:18.latest business news live from Singapore.
:00:19. > :00:23.Slowing down ` revised data points to weaker growth in the Japanese
:00:24. > :00:26.economy. An election in 60 days ` Prime Minister Ying`luck Shinawatra
:00:27. > :00:41.dissolves parliament and promises a general election. Welcome. We start
:00:42. > :00:46.with Japan's economy which expanded by 0.3% compared to the previous
:00:47. > :00:53.quarter. That is a revision down from an earlier estimate with a 0.5%
:00:54. > :00:59.expansion. It underscores the economic recovery and there is? Over
:01:00. > :01:06.future growth as the sales tax is to be raised. The risk concerned about
:01:07. > :01:12.the impact that sales tax increase will have. That is why the
:01:13. > :01:19.government last week announced a 50 Ilion US dollar growth package ``
:01:20. > :01:28.billion, to be launched at the same time as that tax. It will take money
:01:29. > :01:34.out of people 's pockets. And then splurge it on spending will it work?
:01:35. > :01:37.A lot of spending promise of this year has not happened so it will be
:01:38. > :01:47.difficult getting that money flowing through the economy. A lot of
:01:48. > :01:52.challenges ahead for Mr Abe. Looking at 2014, but at the general
:01:53. > :01:57.projections for the economy as Mac thinks again to pick up again in the
:01:58. > :02:04.New Year. The result hope there will be increasing exports. The low value
:02:05. > :02:10.of the yen, going up above 100 to the US dollar in recent weeks, we
:02:11. > :02:14.could further is helping optimism with a Japanese exporter 's but so
:02:15. > :02:21.far, those massive increases have not come through and we have seen
:02:22. > :02:25.increases in imports, particularly energy imports. It is still early
:02:26. > :02:32.days to see whether this policy is going to work. I think the first six
:02:33. > :02:35.` eight months we are seeing the figures for our still very early
:02:36. > :02:42.days to see if this is going to work or not. As you may have heard from
:02:43. > :02:48.the earlier bulletin, Thai Prime Minister Ying`luck Shinawatra will
:02:49. > :02:54.resolve parliament and hold elections within 60 days. There was
:02:55. > :02:56.a major rally in the capital Bangkok marching towards the Prime
:02:57. > :03:00.Minister's offers. The protest have been going on for a week and are
:03:01. > :03:10.calling for the government to step down. A dramatic change in fortune
:03:11. > :03:12.for The top stories this hour: Thailand's Prime Minister Yingluck
:03:13. > :03:15.Shinawatra has dissolved parliament and promised a general election in
:03:16. > :03:22.the wake of massive demonstrations across the country. It would be a
:03:23. > :03:26.while before it will be business as usual in Tacloban. This is all that
:03:27. > :03:33.remains of the biggest shopping while in Abe. Smashed storefront and
:03:34. > :03:38.empty shelves. Cleared by desperate survivors of Typhoon Haiyan. These
:03:39. > :03:44.were some of the scenes from a month ago. People scrambling to find food,
:03:45. > :03:51.water and medicine. By whatever means necessary. No shop was left
:03:52. > :03:56.untouched but it was not just supermarkets and pharmacies that had
:03:57. > :04:02.their shelves emptied, people also took on political appliances,
:04:03. > :04:07.jewellery and other luxury items. `` took home. Armed security guards
:04:08. > :04:13.have been installed and workers are clearing away the debris so they can
:04:14. > :04:21.reopen by next year but so far, only about 30% of the city's business
:04:22. > :04:26.plan have returned. One of them is that this man, who runs a
:04:27. > :04:32.distribution warehouse. He worries that the situation will deteriorate
:04:33. > :04:38.again. The security is concentrated only on a particular area but on the
:04:39. > :04:47.outskirts where the factories and warehouses are located, there is
:04:48. > :04:57.very little security and there is also noticed that security will be
:04:58. > :05:02.pulled down by December. They are very down and discourage, the
:05:03. > :05:07.business, security was not existed, their businesses were looted,
:05:08. > :05:12.everybody lost investments and life savings. We generally need the
:05:13. > :05:19.government to come in all the centre banks and other banks to help local
:05:20. > :05:23.business. He said he was lucky his warehouse was protected right after
:05:24. > :05:29.the storm hit. This rival warehouse across the street was destroyed and
:05:30. > :05:36.also completely ransacked. The businessmen, facing this kind of
:05:37. > :05:46.damage, cleaning up and starting over is a daunting task. In other
:05:47. > :05:52.news, trade ministers from 12 countries are in Singapore in a
:05:53. > :05:55.last`minute effort to strike a basic agreement by the year 's end on a
:05:56. > :06:01.transpacific partnership. They are looking for political solutions on
:06:02. > :06:04.issues such as property right. Negotiations have been going on for
:06:05. > :06:05.nearly four years and if the countries to reach an agreement, it
:06:06. > :06:15.countries to reach an agreement it could pave the way to form stronger
:06:16. > :06:18.ties with China who is not a member. A lot of the countries on both sides
:06:19. > :06:26.of the Pacific already have strong relationships. China also has strong
:06:27. > :06:32.relationships with chilli and South America. Canada is also increasing
:06:33. > :06:37.its trade with China. The point is to use this as a bridge and
:06:38. > :06:43.strengthen the relationship. Use that as a lever to pull China in and
:06:44. > :06:55.gradually change Chinese policies around it government backed
:06:56. > :07:04.companies and enterprises. Data from the weekend in China shows demand is
:07:05. > :07:11.picking up from big economies such as the US and Europe. Imports also
:07:12. > :07:19.rose 5%. A signal China may still have some waste to go when it boosts
:07:20. > :07:23.growth in local consumption. Consumer prices slowed to 3% in
:07:24. > :07:32.November compared to 3.2 in October. The reading was at a eight month
:07:33. > :07:38.high. You can go to our website for more headlines in business. Emerging
:07:39. > :07:43.markets like India are looking more at track he then ever to retailers,
:07:44. > :07:49.particularly luxury retailers. The number willing to flash their cash
:07:50. > :07:57.is going stronger. We spoke to both sides of the counter. Combining
:07:58. > :08:02.sushi with shopping in the country's biggest luxury moll in the
:08:03. > :08:08.south of Delhi. Many come here with friends for what is popularly called
:08:09. > :08:13.a kitty party in India. Elite women get together over lunch and put
:08:14. > :08:19.money to spend on luxury handbags or shoes. Catering to them, several
:08:20. > :08:24.international brands have open stores here now. It is so much
:08:25. > :08:30.easier because I can walk into a store, single the options and just
:08:31. > :08:34.pick up what I like. `` see an option. It has made lifestyles and
:08:35. > :08:40.better. The responder variety and chances to buy, you're not
:08:41. > :08:43.restricted to a particular holiday. As Western markets are slowing
:08:44. > :08:49.down, luxury brands are pushing to be here in India. The number of rich
:08:50. > :08:54.individuals who can afford all this is growing. Which means that they
:08:55. > :09:02.are likely to spur demand in the near future. There were still a few
:09:03. > :09:07.barriers to this growth. India lacks high street so retail space is
:09:08. > :09:12.limited. Yet, the luxury market has witnessed a robust growth of 50%
:09:13. > :09:18.over the last three years and has now estimated to be worth $8
:09:19. > :09:24.billion. But high import duties on luxury products are Warringah
:09:25. > :09:30.retailers. Pricing is one of the many things we try to balance.
:09:31. > :09:37.Especially in other regions like Europe. But it is true that import
:09:38. > :09:42.duties. Or reduce or slowdown and the possibilities for customers to
:09:43. > :09:47.buy in their country. It will effect the economy in India. Unlike their
:09:48. > :09:52.parents, India's young Labour spending over saving. There is a
:09:53. > :09:59.growing breed of a new kind of customer here. Entrepreneurs,
:10:00. > :10:00.officials and the rural rich who are discovering luxury for the first
:10:01. > :10:04.time and are not afraid to plod. time and are not afraid to plod
:10:05. > :10:09.Demand for all kinds of products is expected to soar and luxury
:10:10. > :10:16.retailers will be waiting to tap into the new Indian maharanis.
:10:17. > :10:28.Looking at the markets: strong Chinese trade numbers and good job
:10:29. > :10:33.numbers. Games ready much across the board in Asia. `` gains. Thanks for
:10:34. > :10:36.watching.