Browse content similar to 03/03/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:23. | |
Asian markets fall on worries about escalating tensions in Ukraine. | :00:24. | :00:25. | |
China's currency, what do we think it could mean for the economy and | :00:26. | :00:28. | |
the upcoming leaders meeting in Beijing? As you been hearing on our | :00:29. | :00:38. | |
bulletins tensions escalating in Ukraine and Washington has | :00:39. | :00:41. | |
threatened to isolate Russia economically after Vladimir Putin | :00:42. | :00:44. | |
declared that had the right to invade Ukraine. That is weighing on | :00:45. | :00:51. | |
Asian markets this morning. All of them are currently in the red. | :00:52. | :01:08. | |
Fresh signs of a slowdown in China also a factor. Investors are also | :01:09. | :01:21. | |
watching the Chinese currency, after it had its biggest one`day fall | :01:22. | :01:26. | |
against the US dollar of nearly 1%. It is the biggest decline since 2005 | :01:27. | :01:31. | |
when China introduced its currency regime and moved away from a tight | :01:32. | :01:35. | |
peg against the US dollar. The slide in the currency comes amid concern | :01:36. | :01:42. | |
about the Chinese economy. The outlook should become clearer when | :01:43. | :01:46. | |
the country 's parliament starts its annual meeting in Beijing later this | :01:47. | :01:56. | |
week. There are speculations that over the next few months we could | :01:57. | :01:59. | |
see a further loosening of the group that the Chinese central bank has | :02:00. | :02:08. | |
over the exchange rate. Officials are also trying to send a signal | :02:09. | :02:15. | |
here to the people who bring in hard money into the country, saying that | :02:16. | :02:19. | |
enough is enough. We have too much liquidity. We are looking to the | :02:20. | :02:29. | |
NPC, the big meeting that starts this week. What announcements are | :02:30. | :02:37. | |
you expecting? We already had a big list in November but we need to see | :02:38. | :02:43. | |
some details spelt out. Some of the areas of reform continue to be | :02:44. | :02:48. | |
financial liberalisation, liberalising deposit interest rates | :02:49. | :02:51. | |
would be a big one. Fiscal policy that is offering local government | :02:52. | :02:58. | |
alternative funding avenues. Currently local governments are | :02:59. | :03:03. | |
issuing debt and the idea is to give them additional revenue said that | :03:04. | :03:06. | |
they do not have to rely on debt so much to fund the ongoing operations. | :03:07. | :03:15. | |
Those would be two key areas. For more on the movements of the yuan, | :03:16. | :03:23. | |
look at our website. Staying with China, official data showed a | :03:24. | :03:30. | |
slowdown in factory activity. The index edged down from 50.5 in | :03:31. | :03:40. | |
January. The official data is in contrast with that from HSBC, where | :03:41. | :03:45. | |
the final readings came in at 48.5, signalling a contraction. We need to | :03:46. | :03:50. | |
keep in mind the factories and businesses were shut for several | :03:51. | :03:54. | |
days in early February due to the lunar New Year festivities. A | :03:55. | :04:04. | |
Chinese carmaker has acquired a British company specialising in | :04:05. | :04:10. | |
start`up car parts. Manufacturers are under pressure to ease traffic | :04:11. | :04:13. | |
congestion and pollution. The government wants more hybrid and | :04:14. | :04:18. | |
electrical vehicles on the road in coming years. In Japan, shares are | :04:19. | :04:32. | |
trading higher from the operator uniqlo clothing stores. When you | :04:33. | :04:40. | |
think of the movies you think of Hollywood, especially today as the | :04:41. | :04:44. | |
annual Academy Awards ceremony is under way. Movie money is heading | :04:45. | :04:52. | |
east towards Asia in Singapore is one country in the region that is | :04:53. | :05:01. | |
investing heavily in movies. They may not be Oscar`nominated movies | :05:02. | :05:04. | |
but the money behind Asian film is growing. Box office receipts in the | :05:05. | :05:09. | |
region have been rising and with that an interest in locally produced | :05:10. | :05:16. | |
films like Ghost Child. One of the firms behind this development is | :05:17. | :05:22. | |
Infinite Studios. They have opened two new sound stages here. Its | :05:23. | :05:28. | |
founder hopes the investment will pay off thanks in part to the fact | :05:29. | :05:31. | |
that Singapore encourages movie firms to set up. There is a | :05:32. | :05:37. | |
programme in Singapore which is very attractive so producers can take | :05:38. | :05:43. | |
advantage of government offsets regarding spending in Singapore. The | :05:44. | :05:47. | |
growth of the industry is important in the government subsidises that. | :05:48. | :05:51. | |
There is a rising amount of talent flowing through Singapore from all | :05:52. | :05:56. | |
parts of Asia. They are not the only ones. Lucasfilm are formed by George | :05:57. | :06:05. | |
Lucas, set up one division in Singapore nearly a decade ago. That | :06:06. | :06:12. | |
is behind movies like Pacific Rim. It has just opened a huge new | :06:13. | :06:15. | |
facility in the city and will hire new people. Singapore 's economic | :06:16. | :06:20. | |
development board is focused on this. Their job is to attract more | :06:21. | :06:24. | |
investment and create jobs for locals. Their chairman says that | :06:25. | :06:29. | |
they saw an opportunity to leverage off the growth of the entertainment | :06:30. | :06:34. | |
industry. The media industry is very exciting. Its growth prospects are | :06:35. | :06:40. | |
exciting and growth in this part of the world, countries like China, | :06:41. | :06:46. | |
India, they are the fastest growing markets for digital media and | :06:47. | :06:50. | |
content, including movies. It is a creative industry that appeals to | :06:51. | :06:53. | |
our younger citizens. Singaporeans would find such career is very | :06:54. | :07:05. | |
exciting. The Asia`Pacific box office growth was highest for all | :07:06. | :07:13. | |
films in 2012. China led the list. These companies are trying to cater | :07:14. | :07:16. | |
to a growth market. Last year Asia as a whole accounted for over 40% of | :07:17. | :07:21. | |
the international box offers. Singapore is just one country in the | :07:22. | :07:25. | |
region trying to tap into that magic. Globalisation has meant a big | :07:26. | :07:35. | |
increase in people leaving their home country to work abroad. One | :07:36. | :07:40. | |
factor in choosing a new location is the availability of schools offering | :07:41. | :07:47. | |
a widely recognised curriculum. With the large expatriate population, | :07:48. | :07:51. | |
Singapore has seen a surge in demand for such schools. | :07:52. | :07:58. | |
Getting ready to lay the foundations of his future. Like most kids of his | :07:59. | :08:07. | |
age, this boy 's life is dominated by education. In his case, Dave 's | :08:08. | :08:12. | |
parents who are originally from India decided to opt for an | :08:13. | :08:18. | |
international school. When we moved to Singapore a couple of years back | :08:19. | :08:22. | |
we chose on its national school with the ID curriculum. We do not how we | :08:23. | :08:28. | |
will be here so even if we move we know that we can still go to an | :08:29. | :08:34. | |
international school with an ID curriculum anywhere in the world. | :08:35. | :08:41. | |
There is a huge demand for international schools here. The | :08:42. | :08:45. | |
school that Dave goes too, has more than a thousand students and it is | :08:46. | :08:53. | |
just one of its three campuses. Over the past few years, Singapore has | :08:54. | :08:57. | |
grown to become a key financial centre and a regional hub for many | :08:58. | :09:01. | |
global firms. That is in a large number of expatriates come to live | :09:02. | :09:05. | |
and work here, many of them with kids, driving up demand for | :09:06. | :09:09. | |
international schools. According to the latest data, there is 31 | :09:10. | :09:16. | |
international schools here. There are 45,000 students enrolled in | :09:17. | :09:21. | |
them. The sector also has an impact on the economy, with hundreds of | :09:22. | :09:24. | |
millions of dollars of investments needed to set up such schools. Many | :09:25. | :09:29. | |
more may still need to be built to cater for the growing demand. All of | :09:30. | :09:38. | |
these schools are full. There is an equal number of expatriates coming | :09:39. | :09:41. | |
in as there is leaving. Despite the government 's measures, we are | :09:42. | :09:50. | |
likely to see eight or 9% growth in expatriates as well is resulting in | :09:51. | :09:58. | |
education spaces for children. There will not be many seats empty in the | :09:59. | :10:03. | |
school or others. As parents go all`out to ensure a better future | :10:04. | :10:06. | |
for their kids, they are also helping to secure a good one for the | :10:07. | :10:13. | |
schools and there are `` that their children are studying at. At the top | :10:14. | :10:19. | |
of the show we showed you will of the markets that were falling. There | :10:20. | :10:28. | |
are safe havens as a result of tensions in Ukraine. The Japanese | :10:29. | :10:32. | |
yen, gold, and treasuries are rising. | :10:33. | :10:39. | |
The top stories this hour. Russian troops have seized control of Crimea | :10:40. | :10:50. | |
with fears that they could be deployed across eastern Ukraine. | :10:51. | :10:52. | |
Ukraine's Prime Minister has accused Russia of declaring war and says | :10:53. | :10:56. | |
that his country is on the brink of | :10:57. | :10:57. |