13/01/2014 Asia Business Report


Live from Singapore, the essential business news as it breaks and a look ahead to the news that will shape the business day.

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rejected a call by 95 Tory backbenchers for Parliament to be


given powers to veto laws from Brussels. Mr Hague said that the


idea was unrealistic. Now on BBC News, all the latest business news


live from Singapore. Threat to grow. The economic impact


of the shutdown in Bangkok. An export ban. Indonesia lays down the


law on the country's mineral ore industry.


Welcome to Asia Business Report. We began in Bangkok where


anti-government protesters are planning to shut down Thailand's


capital. The aim to oust the Prime Minister Yingluck Shinawatra and her


cabinet following widespread ministrations. She has called for an


election in February. Processes hope to block it from happening since


polls indicate the government would stay in power. Thailand could use


$30 million per day for every day of political stand. -- political


stand-off. It is very difficult for major


corporations and businesses in Bangkok to operate. They are


expecting between 150,000 to 450,000 demonstrators in support of the


opposition today. That is going to close down Bangkok. Even outside of


Bangkok we are seeing the red shirts looking to close down places like


Chang Mai. It'll have a big impact on business.


It seems an tractable what is going on at the moment. The Thai Chamber


of Commerce last week said some $30 million is being lost per day. Will


the damages be protracted? Will they be long-lasting ?


The most recent was in 2006. We saw big demonstrations in 2010. Every


time, Bangkok has bounced back strongly. It has a resilience that


has surprised analysts around the world every single time. I don't


expect anything different this time. I think that a guest amateur talent


will be the tourist dollar. Big airlines like Singapore airlines are


affected. It is not because they are worried about the threat, although


that would be there, it is more a round the mainland Chinese and


tourists around the world who just on travelling. The controversial new


law came into force in Indonesia yesterday banning exporting


unprocessed minerals like nickel and tin.


They want to keep more profits within the country but they want of


job cuts. The Indonesian President diverted things to affect exports.


It will impact several large companies like Freeport.


The underlying concept was to develop downstream processing of


mineral ores. These kinds of facilities take a lot of investment.


For small companies the only option is to outsource and process within


third parties. At the moment they have relaxed basic infrastructure. A


lot of their facilities and projects are a long way. Apart the issue is


over implementation and timing. We also saw the nickel price going


up my jumping about 3% on Friday in anticipation of the bank. It is


having international repercussions of markets. There are also


inconsistencies with an election coming up. Will be more clarity?


Hopefully, once the presidential regulation is issued. At the moment


there is a lot of uncertainty around that. Example, the Supreme Court in


Indonesia revoked the 2012 regulation which set up a minimum


processing requirements. It is very unclear how the ban is going to be


implemented and enforced going forward.


For more on that story and other business headlines you can go on our


website. China's securities regular track Mission plans to strengthen


conditions over the stock market. New measures will include random


inspections and procedures of a building and roadshows. A statement


from the stock market regulator comes after one Chinese firm dilated


share sale after pricing above the industry average. Food scares have


become increasingly common in the headlines these days. One week a go


at Walmart recalled donkey meat. Horsemeat has also been found across


Europe. A global food safety partnership is trained to tackle


this, made up of 70 countries and other organisations. It looks at how


food is traded across borders. A spokesman if from one organisation.


You need to understand how you test a product and you with borders and


customs. That, in totality is complicated. It can Michu


harmonisation to make sure that a flow of products between countries


is smooth. That is what different regions are trained to harmonise and


bring together. If we look at places that have had


different food scares over the years. China has ten the chief


culprit. A committee is being set up in the country. It country also has


a protectionist stance in terms of letting food and the standards it's


has raised over imported food... How is it acting as an impediment was


mark in the case of China, it is very interesting.


We speak alert food safety and go back for the last five years, China


has been growing fast acting on different occasions. We are now


seeing dynamics in reforming food safety system in the country. It


will take time until we see the whole food safety system in China


changing. In the coming 510 years we see China being more active. --


coming five to ten years. I think they are moving from reforming food


safety policies and standards to looking more at global level.


The Golden Globes awards are under way in Hollywood. Keeping with the


movie theme, we spoke to a film director in India who funded his


latest work through an unusual method online in a crowd funding.


That was after he was unable to find reduces unable to prepare to pay for


a film in his native language in Canada.


I have done about three feature films in Canada. I was bothered by


needing to adjust my script because the producer wouldn't think it makes


sense. I wrote a frustrated block the excess at -- frustrated blog


because the key to it is the audience. It went viral. Within two


or three days I started getting people saying, why don't we all


pitch in something for the song. I didn't know that it was called crowd


funding. I said, OK, they will blame me if I don't do anything.


I put up the proposal and a request for $5 million will -- $5 million.


The first person to put money into it didn't know anything about it. A


realised I had started a revolution. We gave ourselves about 100 days to


raise the funding. We got it and 27 days. We got it from about 510


random people I have never met. Once we were filming, and I figured we


had enough money to finish the film, it was becoming popular day by


day because of the music. Some of the audience wanted to watch it on


the big screen. When you have a film on the big screen it is another big


investment. We created an online web page where some it could pre- order


the film and become a distributor. That person can share the film would


anybody he wants and gets a cut from the sales. What was happening was


that we were encouraging people to share the legal length rather than


torrent links because they could make money off it. Because we were


getting the money is a pre- order, we were using it for distribution.


Everything fell in place. This was the first film to experiment with on


distribution will stop I think it will grow bigger from now.


Let's have a look at markets. We saw wicked than expected payrolls


reports out from the US on Friday. It is ironically boosting


expectations of the Federal Reserve. It is having a positive


impacts on Asian markets amongst those that are open.


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