:00:00. > :00:00.forms the next government. The Scottish government has accused
:00:00. > :00:19.Westminster of bullying and intimidating. Now, time for Asia
:00:20. > :00:25.Business Report. Lenovo beats expectations for its December
:00:26. > :00:46.quarterly earnings. At the Singapore airshow, we get on board an aircraft
:00:47. > :00:50.like no other. We begin with the world's biggest PC maker, Lenovo.
:00:51. > :00:54.Its shares are currently down slightly in early Hong Kong trade
:00:55. > :00:59.despite the company exceeding expectations for its quarterly
:01:00. > :01:03.numbers ending in December and posting record results. It comes in
:01:04. > :01:10.the wake of the company's $5 billion shopping spree to purchase IBM's
:01:11. > :01:22.low-end server business and Motorola mobility from Google. Lenovo really
:01:23. > :01:27.touted its strong earnings period from October to December. Profits
:01:28. > :01:34.were up almost 30%. Revenue across the board is up 15%. 32.6 million
:01:35. > :01:41.units were shipped. That's one every five seconds. The market share
:01:42. > :01:52.figure is 18.5% of the global market. Two of Asia's biggest
:01:53. > :01:55.economies will be announcing their interest rates decisions in a few
:01:56. > :02:02.hours. The central banks of South Korea and Indonesia are expected to
:02:03. > :02:06.keep the cost of borrowing steady. Much attention is being paid to
:02:07. > :02:08.these economies as the US Central Bank looks set to continue winding
:02:09. > :02:18.back its massive stimulus initiative. We explain why the
:02:19. > :02:21.Fed's moves are being felt here. It was not long ago that emerging
:02:22. > :02:26.economies were excited investors. Their growth rate outpaced that of
:02:27. > :02:37.developed economies. In fact, they still do. Developing economies are
:02:38. > :02:40.growing nearly twice as fast as developed economies. Asia is
:02:41. > :02:47.predicted to grow at 6%, China at over 7%. Compare that to the US at
:02:48. > :02:53.around 3%. Why are some investors leaving the emerging markets? The
:02:54. > :02:57.main reason is there is a big downside risk to that growth. Some
:02:58. > :03:02.emerging economies have grown accustomed to plentiful cash. They
:03:03. > :03:09.have large external deficits. After all, the Fed has been injecting cash
:03:10. > :03:13.for the past five years. But now, it's winding down. And that is why
:03:14. > :03:17.some countries have raised rates to attract investors with higher
:03:18. > :03:22.returns. The problem there is that it hurts gross but they worry that
:03:23. > :03:31.if they don't act, they risk a crisis if the cash dries up -- it
:03:32. > :03:35.hurts gross. Emerging economies have huge potential. Just look at their
:03:36. > :03:39.large populations. But they are more volatile economic re- and
:03:40. > :03:45.politically. Only 17 countries have grown well enough to become rich in
:03:46. > :03:52.the entire past 50 years. That gives us a sense as to why it has always
:03:53. > :03:54.been risky to invest in them. With the US and Europe recovering,
:03:55. > :04:02.investors are reconsidering where to spread their cash. Earlier, I spoke
:04:03. > :04:07.with a senior economist from Barclays Bank. What is the outlook
:04:08. > :04:12.for emerging countries globally and in Asia? It has been a challenging
:04:13. > :04:22.beginning of the year to the emerging markets in Asia. The
:04:23. > :04:30.interesting thing is that from the beginning of the year, these
:04:31. > :04:36.countries have outperformed in -- as consensus trades have come under
:04:37. > :04:42.pressure. Has the volatility in the regional economy stabilised? There
:04:43. > :04:48.has been some stabilisation. It is worth saying, however, that over the
:04:49. > :04:53.next you months, we will get regular about of emerging market stress.
:04:54. > :04:59.It's important for investors to be very nimble in their positions. What
:05:00. > :05:05.are the positives amid all of this stress happening to the Asian
:05:06. > :05:10.emerging economies? Globally, the manufacturing cycle continues to
:05:11. > :05:14.improve. The US still has strength within its economy and that is
:05:15. > :05:19.benefiting countries like the North Asian countries like South Korea,
:05:20. > :05:27.which is very much gaining from the manufacturing cycle, especially in
:05:28. > :05:32.the field of electronics. China and South Korea are less vulnerable in
:05:33. > :05:40.an environment with concerns around emerging markets. Thank you. The
:05:41. > :05:45.South Korean central bank has just released its monetary policy
:05:46. > :05:51.decision. According to its governor, it was a unanimous vote to keep
:05:52. > :05:58.interest rates unchanged at 2.5%. In Myanmar, more than two thirds of the
:05:59. > :06:03.population live without electricity. As the country opens up
:06:04. > :06:09.to international investments, basic facilities and infrastructure are
:06:10. > :06:12.the highest concern. A US -based energy supplier has now struck a
:06:13. > :06:17.deal with the Myanmar government. APR will bring electricity to 6
:06:18. > :06:23.million people. Earlier, I spoke with the company's head of business
:06:24. > :06:25.development in the Asia-Pacific. I asked when his company's project
:06:26. > :06:33.would start delivering actual power. We are doing fast track
:06:34. > :06:37.power. We build large-scale, fast track power plants in three months
:06:38. > :06:41.or less. This power plant is already under construction and it will
:06:42. > :06:47.deliver power to the people of Myanmar by the end of the month. --
:06:48. > :06:53.the end of next month. How many households and how many people will
:06:54. > :06:56.get reach? 6 million people. It's one of the largest and it will be
:06:57. > :07:01.one of the cleanest and most efficient power plant in Myanmar.
:07:02. > :07:05.The price is competitive with other power plants in Myanmar. It will use
:07:06. > :07:13.Indigenous fuel from the country and it will be built in three months
:07:14. > :07:22.time. -- it will use local fuel. How much was this deal worth and how
:07:23. > :07:27.much of your company is investing in Myanmar? I can say this is a
:07:28. > :07:30.substantial investment. It's one of the largest investment in an
:07:31. > :07:34.American company in Myanmar for a long time. This is the first
:07:35. > :07:38.American power contract with Myanmar for many years and this is the
:07:39. > :07:45.beginning of, we hope, a number of investments in the country. At the
:07:46. > :07:52.Singapore Air Show, airline manufacturers are keen to tap into
:07:53. > :08:02.the growing defence market in Asia. Del Helicopters has its unique V-22
:08:03. > :08:11.Osprey aircraft on display. -- Bell Helicopters. Saving lives in times
:08:12. > :08:15.of distress. The V-22 Osprey played a key role in rescue and relief
:08:16. > :08:19.operations after Typhoon Haiyan struck the Philippines last year.
:08:20. > :08:23.Bell Helicopters, the maker of the aircraft, has now brought in to the
:08:24. > :08:28.Singapore Air Show four countries other than the US to take a closer
:08:29. > :08:32.look at it and see if they would like to buy the plane. I got the
:08:33. > :08:38.opportunity to experience its capabilities firsthand. What makes
:08:39. > :08:42.the V-22 Osprey unique is the fact that it combines the capability of a
:08:43. > :08:45.helicopter with that of a traditional plain. The helicopter
:08:46. > :08:53.aspect allows it to take off vertically. It can take off at a
:08:54. > :08:58.rate of 5000 feet per minute, ten times what you could do in a civil
:08:59. > :09:04.aeroplane. The traditional aeroplane aspect allows it to achieve speeds
:09:05. > :09:06.faster than what a helicopter can. But the V-22 Osprey is not just
:09:07. > :09:11.about combining the two capabilities. One of the pilots who
:09:12. > :09:14.flew one to the Philippines says that high-end technology on board
:09:15. > :09:22.gives it the advantage over other aircraft. It has weather radar
:09:23. > :09:24.capabilities. In the operation where we went to the Philippines for
:09:25. > :09:29.Typhoon Haiyan relief, we were able to navigate through the weather to
:09:30. > :09:32.provide relief into some of the outlying islands that some of the
:09:33. > :09:37.other aircraft may not have been able to navigate through. However,
:09:38. > :09:41.it is only the Americans who use these. They have bought more than
:09:42. > :09:48.270 of them and have ordered another 100. Bell Helicopters says it is
:09:49. > :09:54.ready to sell them abroad. We are looking at lots of different
:09:55. > :09:57.countries. We have around one dozen countries here to see the V-22
:09:58. > :10:04.Osprey and we expect interest to increase dramatically. It does not
:10:05. > :10:09.come cheap. It costs nearly $90 million to buy one and that is
:10:10. > :10:16.before maintenance and training. There are only a limited number of
:10:17. > :10:21.countries that will be able to afford that. And we will continue to
:10:22. > :10:26.bring you the latest from the Singapore Air Show. We have also all
:10:27. > :10:31.the latest information on our website. Today, we are looking at
:10:32. > :10:44.the race to become the world's best airport. Thank you for joining us.
:10:45. > :10:48.The headlines: Much of Britain is still experiencing some of its worst
:10:49. > :10:49.weather in years, with high winds driving rain and widespread