:00:00. > :00:00.of a Labour-supported amendment by a majority of 269. Now on BBC News,
:00:00. > :00:24.all the latest business news live from Singapore. It's the first day
:00:25. > :00:27.of Singapore's Airshow. We get a sneak peek at Airbus' new plane and
:00:28. > :00:31.speak to Boeing about competing in Asia. It's a dirty business -
:00:32. > :00:35.authorities are doing their best in Asia to stop money-laundering but
:00:36. > :00:42.it's an uphill battle. Hello and welcome. The Singapore
:00:43. > :00:52.Airshow opened today, with more than 1,000 companies from 50 countries
:00:53. > :01:04.there this year. We can go live to our reporter on the scene.
:01:05. > :01:07.Good morning. Here we have many planes on show. Asia-Pacific has
:01:08. > :01:17.become a key battleground for the two main rivals, Boeing and Airu. --
:01:18. > :01:26.Airbus. Airbus has revealed its new plane. We went to take a look. If
:01:27. > :01:36.you want to know what $15 billion worth of research and investment can
:01:37. > :01:39.get you, it is right here behind me. This is what is claimed to be the
:01:40. > :01:43.most modern type in its category. More than 50% of the plane is made
:01:44. > :01:50.up of carbon fibre. Meanwhile, other parts of use titanium and special
:01:51. > :01:54.alloys to further bring down weight. Rolls-Royce has custom-designed and
:01:55. > :02:01.engine for the plane, to help fuel efficiency. Airbus claims all of
:02:02. > :02:04.this means it will use 25% less fuel than the current generation of
:02:05. > :02:07.similar aircraft, offering the airlines capabilities to offer long
:02:08. > :02:14.haul services and better fuel efficiency. The demand for such
:02:15. > :02:18.planes is expected to rise, with more than 7,000 such aircraft are
:02:19. > :02:20.forecast to be sold over the next 20 years but Airbus is facing
:02:21. > :02:24.competition, not least from the Boeing Dreamliner, which is had a
:02:25. > :02:34.two year head start and, as Boeing found out, new technology can create
:02:35. > :02:40.issues. The A350 is expected to lead the commercial services in the
:02:41. > :02:50.middle half of this year. Airbus will be hoping for takeoff.
:02:51. > :02:58.Boeing is already losing ground in some of its key markets in Asia,
:02:59. > :03:02.like Japan. But the $10 billion deal was signed last year with Airbus and
:03:03. > :03:09.Boeing says it is unfazed by the condition.
:03:10. > :03:18.There's no question that the A350 is a response to our 787. Today, there
:03:19. > :03:24.are 121 Dreamliner is flying. 88 of those fly in Asia and they are
:03:25. > :03:27.delivering great fuel efficiency. We have taken every precaution with the
:03:28. > :03:33.Dreamliner and the battery situation. We have a solution that
:03:34. > :03:37.we are confident with. We are confident in the reliability and
:03:38. > :03:43.capability. And our customers are confident as well. Much of the
:03:44. > :03:49.demand for new planes in Asia is coming from low-cost carriers. They
:03:50. > :03:53.want small bodied single aisle planes. It isn't just are bus and
:03:54. > :04:01.Boeing trying to do this but one of the key players is a Brazilian
:04:02. > :04:11.manufacturer. -- Airbus and Boeing. We can talk to the CEO of one
:04:12. > :04:21.Brazilian company. Tell us about the prospects for this airline? We have
:04:22. > :04:31.got so far 152 orders. The largest regional airline in the world. It is
:04:32. > :04:35.a continuation of this family, which has been a success in the world. But
:04:36. > :04:40.of the growth comes from emerging markets. What is your strategy to
:04:41. > :04:45.deal with that? Emerging markets play a key role in our strategy.
:04:46. > :04:51.Most of the demand in the next year will come from emerging markets. We
:04:52. > :04:57.have a very good presence in China and we are implementing and growing
:04:58. > :05:04.our presence in other countries in Asia. Are you worried about the
:05:05. > :05:09.potential slowdown? We see wicked and in some emerging markets. Not
:05:10. > :05:16.really. -- we see weakening demand. We have been seeing some bumps but,
:05:17. > :05:23.when we look at the trends, they are going up. You operate in China and
:05:24. > :05:27.you are relying on that for growth. Tell us about doing business there.
:05:28. > :05:32.What are some of the challenges you face? China is a very important
:05:33. > :05:38.market to us. We have been there for 11 years. We have a lot of aircraft
:05:39. > :05:44.there now these days. We have 130 jets in China already. However, we
:05:45. > :05:50.believe there is a shortage of pilots in China. It is very costly.
:05:51. > :05:56.This is something of course that the airlines will have to face and find
:05:57. > :06:03.a way to get more pilots over time. And in terms of China, where else
:06:04. > :06:13.would you like to build your business that? -- there. India is a
:06:14. > :06:23.huge market. We are going back there now. And Indonesia, another huge
:06:24. > :06:30.market. And we believe the jets will do very well in that market. And all
:06:31. > :06:33.over the Asia-Pacific. We want to have a good presence in China but
:06:34. > :06:39.there are also very good opportunities. Great. Thank you.
:06:40. > :06:44.Obviously a very optimistic outlook. For this company and for Boeing. We
:06:45. > :06:51.expect that to continue over the days ahead.
:06:52. > :06:54.Quite exciting. Thank you. Of course we will ring you live all of the
:06:55. > :07:02.latest from the airshow throughout the day. You can go to our website
:07:03. > :07:13.for more analysis. We have a story about how the Chinese are not big in
:07:14. > :07:16.aerospace yet. In other news making headlines,
:07:17. > :07:20.Toyota is to end its vehicle production in Australian by the end
:07:21. > :07:24.of 2017. The decision marks the end of Australia's carmaking industry.
:07:25. > :07:28.Last year, Ford and General Motors also announced plans to stop
:07:29. > :07:34.producing cars in Australia. Investors are watching shares of
:07:35. > :07:40.Nissan today because flat earlier. The firm posting nearly a 50 this --
:07:41. > :07:46.57% rise for the October- December period last year. That constantly
:07:47. > :07:49.beat expectations. Results were lifted by the weaker yen and
:07:50. > :07:55.improving sales in the firm's biggest market, China.
:07:56. > :07:59.The dark underbelly of many financial systems, the process of
:08:00. > :08:03.money laundering is made easier by countries that allow anonymous
:08:04. > :08:08.banking or fail to clamp down on fake companies. It is estimated that
:08:09. > :08:19.in developing countries alone, around $1 trillion is laundered
:08:20. > :08:22.every year. These tax havens are displayed by criminals but the bulk
:08:23. > :08:31.of the money comes originally from countries like China and Malaysia
:08:32. > :08:43.and India. I asked why authorities identify what is illicit. Much is
:08:44. > :08:46.paper-based. In the Asia-Pacific region, in Singapore, we have
:08:47. > :08:51.140,000 vessels going through this port every day. What is on those
:08:52. > :08:56.vessels? How is that paid? What countries are they going to? Other
:08:57. > :09:05.things on it that should not be that? -- there? Right now, it is
:09:06. > :09:07.paper-based. It allows them to move services and take something from the
:09:08. > :09:13.site. You are right, about $1 trillion. Between China and Hong
:09:14. > :09:17.Kong in the last year, about $155 billion of laundered money. These
:09:18. > :09:22.are staggering numbers. What is being done to clamp down on this?
:09:23. > :09:25.Many large companies are now pursuing this and many of the large
:09:26. > :09:30.banking associations are pursuing solutions. What they are trained to
:09:31. > :09:41.do is use data to automate this trail. The paper trail alone is $138
:09:42. > :09:45.billion just to manage the paper. Surely they could use some of that
:09:46. > :09:47.money to take a look at this. The countries you have named, China,
:09:48. > :09:53.Malaysia, India - what makes these countries particularly prone to
:09:54. > :09:57.-- to delete prone to money-laundering? The problem is
:09:58. > :10:03.worldwide. But all three countries are booming. Their trade finance is
:10:04. > :10:06.booming. Where you will have more trade, there will be more money
:10:07. > :10:11.laundering. More ships going into more ports. We know that in China
:10:12. > :10:16.there has been a huge crackdown on corruption, so what is being done
:10:17. > :10:22.specifically their? Have you seen major improvement? Significant
:10:23. > :10:25.improvement from China. It recently issued a risk warning for all of its
:10:26. > :10:32.banks, so that when they do business they must be sure. Chinese
:10:33. > :10:38.regulators look at the material coming in and they know which ones
:10:39. > :10:41.to pay special interest too. -- interest to.
:10:42. > :10:54.Thanks for watching. This is BBC News. The headlines:
:10:55. > :10:55.Hundreds