:00:00. > :00:00.of bullying and intimidation. Now on BBC News all the latest
:00:00. > :00:14.business news live from Singapore. The world's biggest PC maker beats
:00:15. > :00:19.expectations for its December quarterly earnings, to post record
:00:20. > :00:24.results. At the Singapore Airshow we get on
:00:25. > :00:26.board an aircraft like no other. It has plans to spread its wings
:00:27. > :00:38.across Asia. Welcome to Asia Business Report. We
:00:39. > :00:42.kick off with the world's biggest personal computer Manufacturer,
:00:43. > :00:52.Lenovo. It has posted record results. Shares are slightly down,
:00:53. > :00:56.despite beating quarterly earnings in December, and posting record
:00:57. > :01:01.numbers. The data comes in the wake of the company's more than $5
:01:02. > :01:08.billion shopping spree to buy IBM's low-end server business and
:01:09. > :01:12.Motorola's Mobility from Google. Investors will be watching that
:01:13. > :01:14.closely. They expect their sale to dilate future earnings. We cross
:01:15. > :01:22.live to our correspondent in Hong Kong. They touted strong earnings
:01:23. > :01:27.from October to December. Profits are up 30%. Revenue is up 15%. 32.6
:01:28. > :01:32.million units shipped, one every five seconds. They gave a
:01:33. > :01:48.marketshare figure, saying that they command 18.5% of the global market.
:01:49. > :01:50.Number one in that space. Two of Asia's big economies
:01:51. > :01:55.announced their interest-rate decisions today. Earlier, South
:01:56. > :02:02.Korea's central bank kept rates on hold, Indonesia is expected the same
:02:03. > :02:05.-- to do the same. Close attention is being held to these nations, and
:02:06. > :02:08.the rest of Asia's emerging economies as the US Federal reserve
:02:09. > :02:10.looks set to continue winding back its stimulus programme. Our chief
:02:11. > :02:17.business correspondent explains why the Fed's moves are being held here.
:02:18. > :02:20.It was not logo that emerging economies were what excited
:02:21. > :02:23.investors. The growth rate outpaced that of developed economies. In
:02:24. > :02:26.fact, they still do. Developing countries are projected to grow at
:02:27. > :02:33.5%, that is more than twice as fast as developed economies, as 2.2%.
:02:34. > :02:43.Asia is projected to grow even more quickly, and 6%. China has over 7%.
:02:44. > :02:58.The US is at around 3%. So why are some investors leaving emerging
:02:59. > :02:59.markets? There is a big downside risk to the growth. Some economies
:03:00. > :03:07.have grown accustomed to plentiful cash. They have large external
:03:08. > :03:10.deficits. The Fed has been injecting cash for the past five years. Now it
:03:11. > :03:12.is winding down. That is why some countries have raised rates, to
:03:13. > :03:16.attract investors with higher returns. The problem is that it
:03:17. > :03:22.hurts growth. They worry that if they do not act, they risk a crisis
:03:23. > :03:25.where the cash will dry up. It is not all down to the Federal Reserve.
:03:26. > :03:33.Emerging economies have huge possibilities. Look at their
:03:34. > :03:41.populations. They are more volatile. Only 17 countries have grown enough
:03:42. > :03:46.to become rich. That gives a sense as to why it has always been risky
:03:47. > :03:53.to invest in them. Now, with the US and Europe recovering, investors are
:03:54. > :03:56.reconsidering. Earlier I spoke to a regional
:03:57. > :04:03.economist with Barclays Bank to ask about the outlook for the emerging
:04:04. > :04:06.nations globally and here in Asia. It has been a challenging start of
:04:07. > :04:10.the year for emerging markets. There has been pressure. Asia is feeling
:04:11. > :04:19.that. More vulnerable countries coming under the radar. These
:04:20. > :04:25.countries have outperformed. They have come under pressure.
:04:26. > :04:28.With all of these factors having an impact on Asia's emerging economies
:04:29. > :04:34.in the first quarter of this year, has it now stabilised?
:04:35. > :04:38.We are seeing a breather on the market. There has been some
:04:39. > :04:44.stabilisation. Through the next couple of months, we will have
:04:45. > :04:50.regular bouts of stress. For investors, it is good to be in their
:04:51. > :04:58.positions. What stresses are happening for the
:04:59. > :05:01.Asian economies? It is safe to say that the global
:05:02. > :05:07.manufacturing cycle continues to improve. There is still strength in
:05:08. > :05:10.the US economy. That is benefiting countries in the North Asian bloc,
:05:11. > :05:12.such as Korea, which is geared to manufacturing, especially
:05:13. > :05:21.electronics. We continue to like North Asian countries, we like
:05:22. > :05:37.China, we like Korea. They are less vulnerable in this environment.
:05:38. > :05:40.Thank you. More than two thirds of the
:05:41. > :05:45.population of Myanmar live without mains electricity. As the country
:05:46. > :05:50.opens up to investment, basic utilities and infrastructure are the
:05:51. > :05:53.biggest concerns. This week, a US -based energy supplier struck a deal
:05:54. > :05:59.with the government. They will provide temporary gas, and power
:06:00. > :06:03.generators to bring electricity to 6 billion people. Earlier I spoke with
:06:04. > :06:15.the company's had for business to the limit. -- 6 million people. We
:06:16. > :06:19.are about fast track to power. We build large scale fast track power
:06:20. > :06:24.plants in three months or less. This plant is already under construction.
:06:25. > :06:32.It will be delivered by the end of March. How many households will it
:06:33. > :06:34.reach? How many people can make this facility should deliver power to
:06:35. > :06:46.around 6 billion people. It is one of the largest, cleanest and most
:06:47. > :06:50.efficient plants. -- six million. It will deliver power using indigenous
:06:51. > :06:56.fuel. It will be built in three months time. Can you tell us how
:06:57. > :07:03.much this deal was worth, and how much of the company is investing in
:07:04. > :07:07.Myanmar? We cannot disclose the specifics of the deal, but it is a
:07:08. > :07:13.substantial investment. It is one of the largest investments by an
:07:14. > :07:16.American company in India now. Time. We are the first country to sign a
:07:17. > :07:23.power contract in Myanmar for many years. This is the first of what we
:07:24. > :07:26.hope our number of investment. At the Singapore Airshow,
:07:27. > :07:28.manufacturers are keen to tap into the growing defence market in the
:07:29. > :07:35.Asia-Pacific. Bell Helicopters has its Osprey planes on display. It is
:07:36. > :07:45.only used by the US Marines, but the company is keen to attract new
:07:46. > :07:53.investors. We got on board as a craft to get a first-hand experience
:07:54. > :07:55.of its capabilities. -- on board this aircraft.
:07:56. > :07:59.Saving lives in times of distress, the Osprey played a key role in
:08:00. > :08:01.relief and rescue operations after Typhoon Haiyan struck the
:08:02. > :08:04.Philippines. Bell Helicopters, the maker of the plane, has now brought
:08:05. > :08:08.it to the Singapore show for countries other than the US to take
:08:09. > :08:11.a closer look at it, and see if they would like to buy the plane. I got a
:08:12. > :08:17.chance to experience the plane's capabilities firsthand. What makes
:08:18. > :08:19.it unique is the fact that it combines the capabilities of a
:08:20. > :08:26.helicopter with that of a traditional plane. It can take off
:08:27. > :08:32.vertically. It can climb at a rate of 5000 feet per minute. That is
:08:33. > :08:36.more than ten times what you would do in a normal civil aeroplane. The
:08:37. > :08:42.traditional plane mode allows it to achieve speeds faster than a
:08:43. > :08:47.helicopter can. The Osprey is not just about combining the
:08:48. > :08:50.capabilities. One of the pilots who flew the plane to the Philippines
:08:51. > :08:55.says high end technology on board gives it an edge over other planes.
:08:56. > :09:00.The one behind us is a Black Sea version. It has a weather radar
:09:01. > :09:03.operation. It allowed us to navigate through the weather to provide
:09:04. > :09:13.relief to some of the outlying islands that other aircraft may not
:09:14. > :09:17.have been able to navigate through. It is only the Americans who use
:09:18. > :09:22.these right now. They have bought more than 270 of them. They have
:09:23. > :09:26.ordered another 100. The firm is ready to sell them abroad.
:09:27. > :09:34.We are looking at different countries. We are giving other
:09:35. > :09:40.countries there first exposure. We expect interest to increase
:09:41. > :09:44.dramatically after the show. It does not come cheap. It costs
:09:45. > :09:50.nearly $90 million to buy one, that is before maintenance and training.
:09:51. > :09:58.There are only a limited number of countries which will be able to
:09:59. > :10:02.afford that. We will continue to bring you the
:10:03. > :10:05.latest from this major Asian air event from Singapore. Head to our
:10:06. > :10:08.website for all the latest news and analysis.
:10:09. > :10:17.Today - the race to become the world's best airport.
:10:18. > :10:20.Before we go, a quickwitted Asian markets. Currently lacklustre. Most
:10:21. > :10:32.in negative territory coming off three-week eyes. Investors are
:10:33. > :10:38.cautiously optimistic. Thank you for investing in time with us.
:10:39. > :10:43.The top stories this hour: Much of Britain is continuing to experience
:10:44. > :10:47.some of its worst weather for years with high winds, driving rain and
:10:48. > :10:49.widespread flooding. On a far bigger scale - the weather
:10:50. > :10:50.is