:00:00. > :00:00.who were unable to use their debit cards for a time on Sunday. There
:00:00. > :00:08.were also problems at cash machines. Customers for Lloyds Bank, TSB and
:00:09. > :00:09.Halifax were affected. Now on BBC News, all the latest business news
:00:10. > :00:25.live from Singapore. Japan posts worst and expect to
:00:26. > :00:37.trade numbers in December. And a ban on the. We find out more about
:00:38. > :00:47.products from Australia. -- ban on beef welcome.
:00:48. > :00:52.We start today Japan were worse than expected trade numbers are out and
:00:53. > :00:55.show the country is hitting a record annual trade deficit in 2013. The
:00:56. > :01:02.December numbers showed trade was less than expected. And imports
:01:03. > :01:09.surge in 25% due to a weaker currency and a rise in fossil fuel
:01:10. > :01:16.imports. Welcome. A record deficit. Very much expected but much of it to
:01:17. > :01:22.do with the rise in fuel imports. This is due to the fact that
:01:23. > :01:26.obviously Japan shut many of its nuclear power plants after the
:01:27. > :01:32.Fukushima disaster. That is proving to be costly for Japan? Very costly.
:01:33. > :01:36.There are two things going on. There is an historical shift going on,
:01:37. > :01:41.from Japan being a creditor nation to Japan being a debit nation.
:01:42. > :01:47.That's a shift away from manufacturing, the hollowing out of
:01:48. > :01:53.many sectors being moved to places like China. So, Japan is exporting
:01:54. > :01:57.less. But there's also the factor of the Japanese yen weakening
:01:58. > :02:01.dramatically last year. Very deliberate policy to try to boost
:02:02. > :02:08.exports. It has boosted exports by around 10% but not by enough to make
:02:09. > :02:12.up for the huge increase in costs, Piccadilly of energy. This is really
:02:13. > :02:18.tired to the shutting of Japan's nuclear power plants. -- the. Japan
:02:19. > :02:24.is now the biggest importer of natural gas and the huge import of
:02:25. > :02:31.coal as well. Those costs have gone up dramatically in the last year
:02:32. > :02:34.because of the weaker Japanese yen. What is the government aiming to do
:02:35. > :02:37.about the problem? Obviously we have seen the Prime Minister aggressively
:02:38. > :02:45.try to stimulate the economy. In that help? They are hoping there is
:02:46. > :02:49.a lag. Energy costs have gone up immediately because of the fall in
:02:50. > :02:55.the value of the Japanese yen but exports will take some time to pick
:02:56. > :02:59.up. The hope is that, this year, we will see a much more dramatic pickup
:03:00. > :03:04.in Japanese exports, to close that gap. The other thing they are
:03:05. > :03:09.talking about is the need to get Japan's nuclear power plants back on
:03:10. > :03:11.and diversified and innovate in Japan's energy sectors. So,
:03:12. > :03:14.liberalising the sector, getting more renewable energy generated
:03:15. > :03:22.here, so the bills go down. Thanks. Staying with Japan, Shinto are they
:03:23. > :03:32.continued his three-day visit to India today. -- Shinzo Abe. He is
:03:33. > :03:37.accompanied by a large business delegation from Japan. Over the
:03:38. > :03:43.weekend, Mr Abe and his counterpart signed agreement in the telecom and
:03:44. > :03:48.energy sectors. It also announced a loan of $2 billion for the metro in
:03:49. > :03:54.Delhi. A want to strengthen their economic and political ties. Our
:03:55. > :04:00.report explains what is bringing the two countries closer.
:04:01. > :04:06.India's celebrations are seeing as a show of might. Troops out on display
:04:07. > :04:11.with the latest weapons. But India really needs strategic and economic
:04:12. > :04:16.buffers and Japan feels like a natural choice. Both countries have
:04:17. > :04:23.territorial disputes with China and have agreed to boost security ties.
:04:24. > :04:27.India, which fought a war with China in the 60s, has been building its
:04:28. > :04:30.military presence on the disputed border to counter a military buildup
:04:31. > :04:35.by China. And, recently, India -- Indian and Japanese Navy ships
:04:36. > :04:40.conducted first ever joint exercises. Economic ties are also
:04:41. > :04:45.improving. Delhi's packed with Tokyo is the biggest trade agreement India
:04:46. > :04:57.has entered into with any other country. -- pact. Many feel the
:04:58. > :05:02.potential is much larger. India spends more than $1 trillion in
:05:03. > :05:10.infrastructure and Japan has been a steady partner. The Delhi Metro
:05:11. > :05:14.railway system is one example. The government of Japan has contributed
:05:15. > :05:18.more than half the cost of the project so far. And the Delhi Mumbai
:05:19. > :05:23.industrial corridor, a $90 billion project which connects the city, has
:05:24. > :05:27.been funded mainly by the Japanese government and industry. Nuclear
:05:28. > :05:31.energy negotiations have been on hold since the Fukushima you clear
:05:32. > :05:35.accident that it is expected to gain momentum soon. Japanese nuclear
:05:36. > :05:41.power were builders are increasingly looking to export their reactors as
:05:42. > :05:45.there aren't many plans for new reactor construction within Japan.
:05:46. > :05:49.Once the regulator clearances go through, India is expected to be a
:05:50. > :05:52.major market. So, for Asia's second and third-largest economies, coming
:05:53. > :05:57.together now they proved to be mutually beneficial. In other news
:05:58. > :06:03.from around the region, the World Bank has pledged $2 billion in
:06:04. > :06:08.development aid to Myanmar for projects including energy supply and
:06:09. > :06:11.healthcare. Myanmar has been closed to much of the outside world for
:06:12. > :06:14.many years. It is struggling to rebuild its economy. Ranks eased
:06:15. > :06:21.lending to Myanmar almost three decades ago. -- banks.
:06:22. > :06:26.Samsung has reached a global patents licensing agreement with Google,
:06:27. > :06:35.among growing intellectual property lawsuit is with companies such as
:06:36. > :06:43.Apple. No financial details of the deal have been released yet.
:06:44. > :06:49.Tata Motors directors had died. The Indian -based company said it deeply
:06:50. > :06:53.regret to announce the untimely and tragic death. The circumstances of
:06:54. > :06:59.his death were not immediately apparent but several reports that he
:07:00. > :07:03.may have had a fall in the hotel in the capital, Bangkok. China says it
:07:04. > :07:14.is seriously concerned about the United States' latest anti-dumping
:07:15. > :07:18.rules. The investigation follows a complaint that China's many
:07:19. > :07:22.factories have been using loopholes in import duties to sell their
:07:23. > :07:26.products to load their fair value in America.
:07:27. > :07:31.Over to Australia, a Russian ban on beef products from Australia comes
:07:32. > :07:36.into effect today. Russia says it has found a growth stimulant in beef
:07:37. > :07:46.ofal imported from Australia, a stimulant provisioned in Russia. --
:07:47. > :07:52.prohibited in Australia. Earlier, I spoke with our correspondent in
:07:53. > :07:58.Sydney. I asked how worried Australia's beef producers were.
:07:59. > :08:07.Australian producers don't know how long this man will last. Russian
:08:08. > :08:12.authorities say they found traces of the stimulant in byproducts of
:08:13. > :08:18.Australian beef last year. The ban comes into force today. What we here
:08:19. > :08:21.in Australia is the department of agriculture he is working very
:08:22. > :08:27.closely with meat producers to try to impress upon them the very strict
:08:28. > :08:31.guidelines that Russia does have in place. The stimulant is allowed to
:08:32. > :08:36.be imported into other countries but not Russia. That's why Australian
:08:37. > :08:43.beef byproducts will be banned from importation into Russia, starting
:08:44. > :08:51.from today. What is the reaction be Mike from cattle farmers, and beef
:08:52. > :08:56.traders? -- been like. Farming is very important to the Australian
:08:57. > :09:00.economy. Australia is the world's third-largest beef producers after
:09:01. > :09:06.the US and Brazil. This particular trade in byproducts of beef is worth
:09:07. > :09:11.in excess of $8 million each year, about 30 Australian firms are
:09:12. > :09:16.permitted to send beef products to Russia. They are, of course, very
:09:17. > :09:23.nervous that this very lucrative trade has been suspended. Russia has
:09:24. > :09:27.been trying to impress upon Australia that this is a temporary
:09:28. > :09:33.ban and that, when it is happy, all things being equal, the trade should
:09:34. > :09:35.resume. Of course the Australian agricultural authorities are very
:09:36. > :09:39.keen to get this trade reignited, given, as we mentioned before, the
:09:40. > :09:48.overall importance of agriculture to the Australian economy. Let's have a
:09:49. > :09:53.look at the markets. They are all in negative territory, amongst those
:09:54. > :10:01.that are open. In Asia, the Japanese yen has risen. That's taken a huge
:10:02. > :10:06.toll on Japanese markets. They had fallen to a one-month low on Friday,
:10:07. > :10:14.extending losses again. Of course we have the news with the record trade
:10:15. > :10:16.deficit for 2013. The Japanese yen is rising on lots of emerging
:10:17. > :10:19.markets. Concerns particularly about Beijing, curbing its growth,
:10:20. > :10:25.especially in higher risk lending. Federal Reserve is set to meet this
:10:26. > :10:29.week. Concerns that they are tapering much of their monetary
:10:30. > :10:34.stimulus. Or that they will begin to do so. All that affecting markets. I
:10:35. > :10:36.should mention that Australia is shut for a public holiday. At it for
:10:37. > :10:47.now. -- that's it for now. This is BBC News. The headlines: The
:10:48. > :10:48.UN envoy to Syria says the government has