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speeches have made the show last longer than four hours. We can now | :00:00. | :00:00. | |
go to Singapore. The slide in the Chinese currency | :00:07. | :00:13. | |
comes in a time of investor concern. The reform plan should become | :00:14. | :00:16. | |
clearer later this week when the Parliament, the National People's | :00:17. | :00:20. | |
Congress, starts its annual meeting. Earlier I spoke with an analyst from | :00:21. | :00:30. | |
HSBC. There are speculations that in the next few months we could see a | :00:31. | :00:33. | |
further loosening of the grip that the Chinese central bank has over | :00:34. | :00:39. | |
the exchange rate. It will widen the band so we see more fluctuations. | :00:40. | :00:44. | |
Officials are trying to send a signal to the people who are | :00:45. | :00:49. | |
bringing in money into the country. They are saying, enough is enough. | :00:50. | :00:54. | |
We have too much liquidity. Do not bring in a more cash. We are looking | :00:55. | :01:01. | |
to the MPC that starts this week. The big meeting. What are some of | :01:02. | :01:06. | |
the announcements you are expecting from this? We already had a big list | :01:07. | :01:12. | |
in November. Now we need to see some of the details spelt out. Some of | :01:13. | :01:18. | |
the areas of reform continued to be financial liberalisation, for | :01:19. | :01:21. | |
example, liberalising deposit interest rates. Also, fiscal policy | :01:22. | :01:31. | |
that is offering alternative funding avenues. Currently, local | :01:32. | :01:34. | |
governments are issuing debt. The idea is to give them more additional | :01:35. | :01:41. | |
revenues they don't have to rely on debt to fund their ongoing | :01:42. | :01:44. | |
operations. Those would be two key areas. Thank you. For more on the | :01:45. | :01:51. | |
currency's movements and headlines from around the world, thick and had | :01:52. | :01:58. | |
to our website. Staying with China, official data showed a slowdown in | :01:59. | :02:02. | |
factory activity. The country's purchasing managers index edged | :02:03. | :02:09. | |
down. Any reading above 50 indicates expansion. The official data is in | :02:10. | :02:14. | |
contrast with the calculations, it had just been released. The final | :02:15. | :02:21. | |
reading for February was at 48.5, signalling a contraction in factory | :02:22. | :02:28. | |
activity. A Chinese carmaker has acquired enrolled automotive, a | :02:29. | :02:33. | |
British`based start`up specialising in electric vehicles. Ministries in | :02:34. | :02:38. | |
China are under pressure to reduce our pollution and ease traffic | :02:39. | :02:44. | |
congestion. The government wants 500,000 hybrid and electric vehicles | :02:45. | :02:51. | |
on the road by next year. Shares are trading higher in Japan. The broader | :02:52. | :02:54. | |
stock market is in negative territory. Shares are up on reports | :02:55. | :03:01. | |
that the owner of Hunico is interested in a US firm. | :03:02. | :03:11. | |
When you think of glitz and glamour, Hollywood comes to mind. | :03:12. | :03:15. | |
Especially today, when the Oscars are underweight. Increasingly, movie | :03:16. | :03:21. | |
money is moving towards Asia. Singapore is investing heavily in | :03:22. | :03:28. | |
not be Oscar`nominated movies, but not be Oscar`nominated movies, but | :03:29. | :03:33. | |
the money behind Asian film is growing. Box office receipts have | :03:34. | :03:42. | |
been rising. We have an increase in locally produced films. One of the | :03:43. | :03:46. | |
firms behind these films is infinite studios. They have just opened up | :03:47. | :03:51. | |
two sound stages, costing nearly $50 million. Its founder says the | :03:52. | :03:56. | |
investment should pay off, thanks to the fact that Singapore encourages | :03:57. | :04:02. | |
movie firms to set up. There is an incentive programme in Singapore | :04:03. | :04:06. | |
which is very attractive. It allows producers to take advantage of | :04:07. | :04:11. | |
government offsets that enable the government to look at the growth of | :04:12. | :04:14. | |
local industry. It is very important. The government subsidises | :04:15. | :04:19. | |
that. There is a rising amount of talent flowing through Singapore | :04:20. | :04:24. | |
from all parts of Asia. They are not the only ones. Lucasfilm, formed by | :04:25. | :04:31. | |
George Lucas, set up its industrial light and Magic division in | :04:32. | :04:36. | |
Singapore nearly a decade ago. The Singapore arm is behind movies like | :04:37. | :04:40. | |
Pacific rim. It has just opened a new facility in the city and plans | :04:41. | :04:47. | |
to hire more people. It is something Singapore's economic development | :04:48. | :04:51. | |
board is focused on. That job is to attract more investment to Singapore | :04:52. | :04:55. | |
and create jobs for locals. That Sherman says they saw another shared | :04:56. | :04:58. | |
the two leveraged off the growth of the entertainment industry. The | :04:59. | :05:03. | |
media and digital entertainment industry is exciting in terms of | :05:04. | :05:12. | |
growth. Countries like China, India, they are the fastest growing | :05:13. | :05:16. | |
markets for digital media and content, including movies. The | :05:17. | :05:22. | |
creative industry appeals to younger Singapore residents. They will find | :05:23. | :05:31. | |
these careers and jobs exciting. The Asia`Pacific led box office growth | :05:32. | :05:34. | |
for all films released in 2012. China led the list. Japan, South | :05:35. | :05:38. | |
Korea and others followed close behind. These companies are trying | :05:39. | :05:43. | |
to cater to a growth market. Last year, Asia accounted for over 40% of | :05:44. | :05:50. | |
the international box office. Singapore is it the many countries | :05:51. | :05:55. | |
trying to tap into that moviemaking magic. | :05:56. | :05:59. | |
Globalisation has meant a big increase in the number of people | :06:00. | :06:02. | |
leaving their home countries to live and work abroad. One of the factors | :06:03. | :06:08. | |
in choosing a new location is the availability of schools offering a | :06:09. | :06:15. | |
widely recognised curriculum. With a white expatriates community, | :06:16. | :06:19. | |
Singapore has seen a surge in demand for their schools. We took a look at | :06:20. | :06:26. | |
this. Getting ready to lead the foundations of his future, like most | :06:27. | :06:32. | |
kids of his age, this boy's life is tolerated by his education. In his | :06:33. | :06:37. | |
case, his parents, originally from India, opted for an international | :06:38. | :06:45. | |
school rather than a local one. When we moved to Singapore, we chose an | :06:46. | :06:51. | |
international school. We did not know how the years we would be in | :06:52. | :06:54. | |
the country. Even if we move to another country, we know that we can | :06:55. | :06:58. | |
stick onto an international school with this curriculum anywhere in the | :06:59. | :07:04. | |
world. His parents not the only ones that priority. It has created a huge | :07:05. | :07:08. | |
demand for international schools. The school that he visits has more | :07:09. | :07:15. | |
than 1000 students. This is one of the three campuses that the school | :07:16. | :07:21. | |
has in the State. Singapore has grown to become a key financial | :07:22. | :07:24. | |
centre and a regional hub for many global firms. That has seen a large | :07:25. | :07:29. | |
number of expatriates come here to work and live here. Many of them | :07:30. | :07:33. | |
have children, driving up the demand for international schools. There are | :07:34. | :07:41. | |
31 international schools here with more than 45,000 students enrolled. | :07:42. | :07:47. | |
The sector also has an impact on the economy, with hundreds of millions | :07:48. | :07:51. | |
of dollars of investment needed to set up such schools. Many more may | :07:52. | :07:56. | |
still need to be built to cater to the growing demand. All the | :07:57. | :08:02. | |
international schools of the moment are full. There is an equal all | :08:03. | :08:07. | |
larger number of expatriates returning. Despite measures to cool | :08:08. | :08:12. | |
down immigration, we are likely to see 9% growth in the expatriates, | :08:13. | :08:17. | |
Atlas resulting in education spaces for children. `` as well as | :08:18. | :08:25. | |
resulting. There are unlike his be any empty seats in the schools. As | :08:26. | :08:31. | |
parents go all`out to ensure that a future for kids, they are also | :08:32. | :08:36. | |
helping secure a good future for the schools their children are studying | :08:37. | :08:41. | |
at. A quick look at the markets. As we | :08:42. | :08:46. | |
said earlier, they are all slumping. Partly due to this flight to save | :08:47. | :08:53. | |
havens. We are seeing the Japanese Yen gaining. That takes a big toll | :08:54. | :08:59. | |
on the export related stocks. That is why the decay is down. `` | :09:00. | :09:06. | |
Headlines: Russian troops have seized control of Crimea. There are | :09:07. | :09:18. | |
growing fears that could be deployed across eastern Ukraine. | :09:19. | :09:24. | |
Ukraine's prime minister has accused Russia of declaring war and warned | :09:25. | :09:26. | |
that his country is | :09:27. | :09:27. |