Browse content similar to 16/12/2013. Check below for episodes and series from the same categories and more!
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Oxfordshire 13 days ago. No body has yet been found. Ben Blakeley, who is | :00:00. | :00:00. | |
22 and from Reading, is due to appear before magistrates later this | :00:00. | :00:17. | |
morning. The Japanese economy - a hit or a | :00:18. | :00:23. | |
miss? To hike or not to hike, the dilemma | :00:24. | :00:36. | |
facing India's central bank. We start off with Japan. Business | :00:37. | :00:42. | |
confidence among manufacturers show that improvement in the three months | :00:43. | :00:46. | |
until December stimulate -- signal that the government stimulation | :00:47. | :00:54. | |
policies are working. Sentiment among manufacturers improved by four | :00:55. | :01:03. | |
points to plus 16, a six-year high. We also saw a rise in the index. It | :01:04. | :01:12. | |
comes as Shinzo Abe at Marks is one year in office. He has pledged | :01:13. | :01:24. | |
economic reforms. The survey also showed that large companies planned | :01:25. | :01:29. | |
to increase capital spending by just 4.6% in the financial year to March | :01:30. | :01:33. | |
2014. That is lower than what economists were hoping for. Next | :01:34. | :01:37. | |
year, the government hopes to go ahead with a higher sales tax, from | :01:38. | :01:46. | |
5% to 8% starting in April. I asked if the upcoming sales tax will | :01:47. | :01:51. | |
create a dent in the prospects for the Japanese economy. | :01:52. | :01:56. | |
It will have an impact on spending. We will see demand being brought | :01:57. | :02:00. | |
forwards. The first quarter will have strong consumer spending and | :02:01. | :02:02. | |
that it will slump in the second quarter. The business outlook survey | :02:03. | :02:09. | |
covers a forecast for two quarters and it shows that manufacturers are | :02:10. | :02:16. | |
quite confident that we will see a mild deterioration in the second | :02:17. | :02:19. | |
quarter. What are the three top things in your wish list that you | :02:20. | :02:24. | |
hope that she is a bit will -- Shinzo Abe it will implement is ? . | :02:25. | :02:35. | |
We want to see some quantitive easing. And we want to see some | :02:36. | :02:41. | |
structural reforms. We want to see something in terms of the TBB | :02:42. | :02:46. | |
negotiations succeeding. We want to see that agriculture protection will | :02:47. | :02:52. | |
be lowered. For more on the progress of the | :02:53. | :02:55. | |
Japanese economy, log onto our website. Check out the latest | :02:56. | :02:58. | |
commentary from our chief business, -- correspondent. | :02:59. | :03:06. | |
Singapore -based budget airline is joining forces with Thailand's | :03:07. | :03:11. | |
low-cost airline. The two are coming together to create a new low-cost | :03:12. | :03:18. | |
carrier. It will be based in Bangkok. The Thai company will have | :03:19. | :03:25. | |
a 51% in the partnership, while the Singaporean one will own the | :03:26. | :03:28. | |
remaining. Investment in the project will total just over 60 million US | :03:29. | :03:32. | |
dollars. Austrian Prime Minister Tony Abbott | :03:33. | :03:36. | |
has supported calls from Qantas for a level playing field -- Australian | :03:37. | :03:42. | |
prime minister. They face a record loss and rising competition. The | :03:43. | :03:49. | |
Qantas sale act, which came into place in 1992, limits foreign | :03:50. | :03:53. | |
ownership of the carrier to 49% and requires Qantas to keep the majority | :03:54. | :03:58. | |
of its maintenance operations in a straight. The airline has long | :03:59. | :04:02. | |
complained of Virgin Australia and is major shareholders providing a | :04:03. | :04:10. | |
virgin access to foreign funding, thereby providing an unfair playing | :04:11. | :04:13. | |
field. India's central bank will be | :04:14. | :04:18. | |
revealing whether or not it will be changing interest rates. In the past | :04:19. | :04:21. | |
three months, the bank has increased the cost of borrowing twice to try | :04:22. | :04:25. | |
to keep soaring prices in check. It is also, at a time when growth has | :04:26. | :04:32. | |
remained slow -- it has also come at a time. | :04:33. | :04:40. | |
This man has lived in this building all his life. In the next few | :04:41. | :04:44. | |
months, he has to move out. Like most old buildings in the city, his | :04:45. | :04:52. | |
home is going to be redeveloped. Even though the developer is | :04:53. | :04:56. | |
providing him with compensation, he says it will not be enough to buy a | :04:57. | :05:00. | |
new home. The prospect of taking a loan is not very appealing. I was | :05:01. | :05:06. | |
looking for a home loan, but I cannot take the burden right now. | :05:07. | :05:09. | |
The interest-rate just keeps going up and never comes down. It has to | :05:10. | :05:13. | |
fit my budget, and that is not going to happen with the current scenario | :05:14. | :05:17. | |
of real estate and home loan interest rates. High interest rates | :05:18. | :05:21. | |
coupled with the slowing economy has made it difficult for consumers to | :05:22. | :05:26. | |
buy homes. In fact, it has hit sales in a big way, forcing many real | :05:27. | :05:30. | |
estate developers to offer discounts. That has not helped much. | :05:31. | :05:34. | |
It is not only consumers that are feeling the pressure of high | :05:35. | :05:36. | |
interest rates. Businesses are also feeling the heat. This factory based | :05:37. | :05:46. | |
in Mumbai makes switchgears, which are used in housing apartments and | :05:47. | :05:52. | |
industrial complexes. The economic slowdown means it is not getting | :05:53. | :05:56. | |
many orders -- not has not been getting many orders over the last | :05:57. | :06:00. | |
couple of years. Rising labour and energy prices have impacted its | :06:01. | :06:06. | |
costs, which have gone up sharply over the same period. If that is not | :06:07. | :06:11. | |
bad enough, high interest rates have squeezed its profit even further. We | :06:12. | :06:16. | |
have to look for some ultimate way of financing. Maybe we have to look | :06:17. | :06:22. | |
for some cheaper funding from abroad, if it is available. The | :06:23. | :06:27. | |
banking industry here cannot provide us, and we may have to look for | :06:28. | :06:31. | |
alternatives if we are to stay in business. It will be a big challenge | :06:32. | :06:38. | |
for us. The Indian central bank has increased key lending rates twice in | :06:39. | :06:41. | |
the last three months. This is mainly due to high inflation driven | :06:42. | :06:47. | |
I rising prices. The government and industry have been clamouring for a | :06:48. | :06:52. | |
rate cut to revive the slowing economy. But so far, the bank has | :06:53. | :06:56. | |
shown no signs of giving in to the pressure. The rate decision from the | :06:57. | :07:01. | |
Indian central bank is due to come out on Wednesday. | :07:02. | :07:07. | |
December is traditionally one of the best months. Is because of the | :07:08. | :07:12. | |
so-called Santa Claus rally. That is when share prices rise of the final | :07:13. | :07:16. | |
ten days of training before the New year. Overall, volatility would | :07:17. | :07:20. | |
probably best described it doesn't get it. I spoke to the Philippines | :07:21. | :07:25. | |
stock exchange president, who told me how the stock exchange and the | :07:26. | :07:28. | |
Philippines has performed this year. I think the year has been quite good | :07:29. | :07:31. | |
for the Philippines and for the stock market. Good in the sense that | :07:32. | :07:37. | |
we have a lot more activity on the exchange, more liquidity, more IPOs, | :07:38. | :07:45. | |
and new stocks and products being launched. How have the bribery | :07:46. | :07:50. | |
scandals and the natural calamities impacted sentiment of investors? | :07:51. | :07:54. | |
There has always been a short-term dip. A big contributor to the | :07:55. | :07:58. | |
volatility that you talk about. The same thing happened when the tape a | :07:59. | :08:05. | |
story first came out. There was an overreaction. It contributes to the | :08:06. | :08:10. | |
volatility. Overall, I would say that the basic fundamentals prevail | :08:11. | :08:15. | |
when you take a look at trends. This year has been a milestone for the | :08:16. | :08:20. | |
Philippines. It got an investment-grade status from some of | :08:21. | :08:22. | |
the key ratings agencies. How much has this helped in terms of bringing | :08:23. | :08:30. | |
in new investors into the Philippine capital markets? Tremendous. I would | :08:31. | :08:33. | |
say that we are seeing a lot of 1st-time portfolio manner -- | :08:34. | :08:38. | |
managers who are investing in the first time because they could not | :08:39. | :08:41. | |
invest in investment-grade investments. This rating has given a | :08:42. | :08:47. | |
third-party cheque in terms of saying the company is OK, the | :08:48. | :08:53. | |
financials are OK and the fundamentals are looking decent. | :08:54. | :08:59. | |
When you take a look at who we are seeing, a big influx for example has | :09:00. | :09:07. | |
been from Japan. An amazing amount of interest and portfolio flowing | :09:08. | :09:11. | |
from that sector, which was not present before. What could be the | :09:12. | :09:21. | |
big flags for the economy and the capital markets? I think how the | :09:22. | :09:27. | |
reconstruction relating to the storm will be, in terms of how much | :09:28. | :09:32. | |
infrastructure building will the company be able to do, something | :09:33. | :09:35. | |
that the people have been looking forward to for some time. For the | :09:36. | :09:40. | |
capital market, the big question is what will be the US Federal talk. | :09:41. | :09:49. | |
That created so much volatility last year in the local market and that | :09:50. | :09:55. | |
could be a factor in how markets are perceived, including the | :09:56. | :09:55. | |
Philippines. Investors continue to remain on the | :09:56. | :10:09. | |
sidelines amid concerns that the US Federal bank could change policy | :10:10. | :10:13. | |
this week. Thank you for interesting your time | :10:14. | :10:24. | |
with us. Goodbye for now. -- investing your time with us. | :10:25. | :10:44. | |
The top stories this hour - the actor Peter O'Toole, renowned for | :10:45. | :10:50. | |
playing Lawrence of Arabia in the Oscar-winning film has died, aged | :10:51. | :10:51. |