:00:00. > :00:00.in from Wythenshawe and Sale East. We can tell you that labour had held
:00:00. > :00:09.it but we are waiting on the news that crucial news of who came
:00:10. > :00:14.second. Now on BBC News all the latest business news live from
:00:15. > :00:32.Singapore. It is the final day of deals at the Singapore airshow.
:00:33. > :00:35.It is no longer all about oil. Welcome to Asia Business Report. I
:00:36. > :00:42.am Rico Hizon in Singapore and trade is why dig up at Singapore 's
:00:43. > :00:48.biggest aviation showcase. We will find out exactly how much later
:00:49. > :00:57.today. Let's have a look at the highlights so far. Airbus have
:00:58. > :01:03.displayed the A350. Bowling game a bold outlook for the aviation
:01:04. > :01:10.industry, forecasting its fleet will triple in 20 years. Ever recorded
:01:11. > :01:19.the biggest deal for the A350 at almost $1 billion. One firm is still
:01:20. > :01:22.getting attention, a state owned commercial aircraft company from
:01:23. > :01:26.China. Even though it has still not made its first commercial plane. Our
:01:27. > :01:36.correspondent has more. That Bigley, this plane was not
:01:37. > :01:40.built by China but the Chinese Asian.
:01:41. > :01:48.There is huge demand for these planes and a domestic airline within
:01:49. > :01:56.the country could have its first play like this ready within years.
:01:57. > :02:01.TRANSLATION: We're working on a comprehensive design and we are the
:02:02. > :02:05.trial production stage. Last year we started construction. Our aim this
:02:06. > :02:10.year is to reach the final assembly stage. Hopefully, the plane will
:02:11. > :02:17.take its first flight in 2015. This is what the first plane will look
:02:18. > :02:23.like. Tens of millions of dollars have been invested into developing
:02:24. > :02:27.this plane. The company says it has 400 orders from 16 firms. The
:02:28. > :02:31.interest is mainly coming from domestic airlines in China. The
:02:32. > :02:42.company says it also has deals in the pipeline with firms in Singapore
:02:43. > :02:49.and the US. Earlier I spoke to David Stewart from ICF International. He
:02:50. > :02:58.is at the airshow today. They will pose a threat. China has long-term
:02:59. > :03:03.ambition in the air space industry. Even though there have been delays
:03:04. > :03:15.on that plane, they have come meted a lot to be air space industry. If
:03:16. > :03:25.you put a 50 year time horizon, it will definitely be Airbus, Boeing
:03:26. > :03:35.and China. Looking at past airshow is, Dubai, Paris. In Singapore, it
:03:36. > :03:40.is more than $11 billion. Will that be a bit of a disappointment for
:03:41. > :03:44.firms that have come here? I don't think you should measure the success
:03:45. > :03:50.of airshow is purely on the number of aircraft sales. There was a nice
:03:51. > :03:59.feature today that the airshow has other features. Airlines do not make
:04:00. > :04:05.forecasts on -- based on their shows. You have business to business
:04:06. > :04:15.going on. Businesses that are being initiated, accelerated. It is not
:04:16. > :04:25.big but I think -- I have been to over 30 airshow is but this is by no
:04:26. > :04:32.means the worst. Fresh official data from mainland China, while inflation
:04:33. > :04:39.coming in at a steady to a half percent in January. The data
:04:40. > :04:49.measures changes in the number of goods. They expect the Central Bank
:04:50. > :04:53.will keep its monetary policy relatively tight this year as the
:04:54. > :04:59.inflation situation is under control. Australia's biggest gold
:05:00. > :05:05.miner has been hit by more prizes with the company announcing a big
:05:06. > :05:11.fall in profits. The result of the six months to December fell by 36%
:05:12. > :05:18.to $186 million. The report follows some problems in the minds and
:05:19. > :05:28.assets in west Africa. Mobile phone companies in India have been almost
:05:29. > :05:32.$10 billion for two G telecom licences. The about five exceeded
:05:33. > :05:37.the government is target of about $1.8 billion. The money will be used
:05:38. > :05:44.to shrink the budget deficit. The auction winners include Vodafone.
:05:45. > :05:47.It is no secret that Chinese companies are investing billions of
:05:48. > :05:53.dollars around the world but it is not just cash strapped companies
:05:54. > :05:56.that are proving attractive. The oil rich Middle East is being viewed as
:05:57. > :06:02.a good place to do business. Our reporter has been to meet the
:06:03. > :06:07.Chinese business community in Dubai to find out what deals are being
:06:08. > :06:14.done. This is dragon mart. It is the world
:06:15. > :06:21.'s biggest trading centre for Chinese products outside the country
:06:22. > :06:25.itself. The oil trade between Dubai and China has been growing at a
:06:26. > :06:29.startling 15%. This to a group is its biggest tenant and has been here
:06:30. > :06:39.since it opened in 2004. What attracted them to the golf?
:06:40. > :06:44.TRANSLATION: First of all, Dubai is very well located. It is halfway
:06:45. > :06:48.from China to Europe. Another very important aspect is the government
:06:49. > :06:53.in Dubai is offered as a rule policies, including zero taxes and
:06:54. > :06:59.easy these assessing. Plus, people in this country are very fled Blee.
:07:00. > :07:05.-- friendly. It is safe to Libya and our business is growing by 30% every
:07:06. > :07:10.year. Even a dragon Market is less than a decade old, they have
:07:11. > :07:15.experienced enough demand to double the overall footprint of the maul.
:07:16. > :07:21.When it opens in time for the 10th anniversary this year, the overall
:07:22. > :07:24.floor space will be around the area of 50 international football
:07:25. > :07:32.pitches. So what is driving the demand for that space? It has played
:07:33. > :07:40.a great role in the exchange of trade between the two countries. But
:07:41. > :07:45.trade between the Gulf and China is much more than just good and
:07:46. > :07:51.services. Around two thirds China's entire oil supply comes from the
:07:52. > :07:56.Middle East. That dependency has led the IMF to suggest a slowdown in
:07:57. > :08:01.Chinese economic activity could prove to have a more significant
:08:02. > :08:15.impact on golf economies than the European debt crisis. Not everyone
:08:16. > :08:17.is celebrating a boom time. None of these shopkeepers wanted to appear
:08:18. > :08:24.on camera but it does serve as a reminder that the trade volumes are
:08:25. > :08:36.growing rapidly. There is a leading chance that business could go splat.
:08:37. > :08:40.The recoveries of many major economies around the world seemed to
:08:41. > :08:42.be gaining pace and becoming attractive to investors. What
:08:43. > :08:52.happens when people are doing better? Apparently, the drink more.
:08:53. > :09:04.Our business correspondence spoke to be chief executive of Miller. If the
:09:05. > :09:10.economy slowed down, beer is relatively pricey. In the emerging
:09:11. > :09:17.markets, our presence is around 75%. You can see the impact of that in
:09:18. > :09:21.economic slowdown. In developed markets where poor consumers can be
:09:22. > :09:28.affected by a downturn, you will see in the US today, there is quite a
:09:29. > :09:35.lot of pressure on the beer market. The economic recession that they
:09:36. > :09:44.went through had a large impact. You can catch the rest of the interview
:09:45. > :09:50.inkm/h talking Aberystwyth business on Friday.
:09:51. > :09:56.Here is a quick look at the markets and most Asian equities are in
:09:57. > :10:04.positive territory at this hour after US shares closed higher
:10:05. > :10:07.overnight with the NASDAQ rising. Investors looked past disappointing
:10:08. > :10:23.data. Hong Kong, South Korea and Australia
:10:24. > :10:28.all in the past: at this hour. You can keep up-to-date with more news
:10:29. > :10:45.from Asia and special reports on Twitter.
:10:46. > :10:52.Belgian MPs have voted to give terminally ill children the right to
:10:53. > :10:53.die, regardless of age. That takes the