:00:00. > :00:00.him of using his celebrity connections to bully and manipulate
:00:00. > :00:15.girls and women into sexual acts. He denies the charges. Time for Asia
:00:16. > :00:22.Business Report. A Chinese solar panel maker warns
:00:23. > :00:30.that it cannot pay out millions on interest in domestic bonds. Diamonds
:00:31. > :00:46.are supposed to be forever. Why are some companies in India losing hope?
:00:47. > :00:54.Welcome to the programme. In China, the country's first ever corporate
:00:55. > :00:58.bond default is possible. One company has warned it will not be
:00:59. > :01:03.able to pay $14.5 million in interest due today. Struggling
:01:04. > :01:14.Chinese companies are often rescued by the government. What does this
:01:15. > :01:19.mean for the company? It's important that the Chinese allow a company to
:01:20. > :01:25.default. And it's important it happens while the National People's
:01:26. > :01:30.Congress is under way. It seems like this default has the tacit approval
:01:31. > :01:37.of the people at the top, meaning that the Chinese are going to
:01:38. > :01:42.allow... Let's take a step back. Will they do this? They may allow
:01:43. > :01:53.one company to default and in the future, they may allow for more bail
:01:54. > :02:03.out manoeuvres. Will this be used as an example because of the NPC going
:02:04. > :02:08.on at the moment? If there are more defaults, this will be part of a
:02:09. > :02:12.greater structural adjustment. Then there would be change in the bond
:02:13. > :02:16.market, where a good credits are priced lower and bad credits are
:02:17. > :02:20.priced higher. That would make it difficult for bad credits to borrow,
:02:21. > :02:25.so we go companies would exit the industry. That would address a major
:02:26. > :02:31.problem in China, which is overcapacity in many industries.
:02:32. > :02:35.Japan's government has said that Bitcoin is not a currency but that
:02:36. > :02:41.some transactions using the virtual unit should be taxed. The government
:02:42. > :02:44.said it was natural to consider how to impose taxes if there were
:02:45. > :02:48.transactions and games involved. It also says banks cannot divide
:02:49. > :02:53.Bitcoin as a product to their customers. The government is trying
:02:54. > :02:58.to calculate the volume and value of Bitcoin in circulation around the
:02:59. > :03:01.world. The US Department of Justice has launched an anti-trust
:03:02. > :03:10.investigation into Time Warner cable. The largest cable companies
:03:11. > :03:16.in the US would join forces. Comcast has argued that it and Time Warner
:03:17. > :03:29.cable serve different markets and that the deal will not be negative
:03:30. > :03:38.for the industry. Times are tough in India and the Indian diamond market.
:03:39. > :03:47.We met diamond traders to see if diamonds really can be forever. It's
:03:48. > :03:51.hard to imagine that amid the chaos and crowds here, precious diamonds
:03:52. > :04:01.are being bought and sold. But this is one of the busiest streets of the
:04:02. > :04:09.diamond market. The fluctuation in India's currency has made business
:04:10. > :04:15.of the cult over the past year. -- business difficult. We buy diamonds
:04:16. > :04:22.at higher prices and sometimes we have to sell at lower prices. Small
:04:23. > :04:25.dealers cannot bear such losses. Eight out of every ten diamonds sold
:04:26. > :04:32.anywhere in the world come from here, even though India does not
:04:33. > :04:37.produce any diamonds of its own. This diamond industry is worth over
:04:38. > :04:41.25 yen dollars and it directly employs over 700,000 people pull up
:04:42. > :04:45.most of the diamonds that are processed here are exported but it
:04:46. > :04:51.is also completely dependent on imports for top when there is
:04:52. > :04:54.fluctuation in the exchange rate, and immediate effect is felt here.
:04:55. > :05:00.Small and medium-sized enterprises dominate this business but they
:05:01. > :05:10.don't have large profit margins. They need financial backing to
:05:11. > :05:14.withstand the losses. We don't get loans very easily from banks. And
:05:15. > :05:19.the government does not do much to help us. Recently, we have been
:05:20. > :05:23.approached by other countries like Luxembourg and Belgium, who say they
:05:24. > :05:27.will give us finance and other infrastructure if we set up there.
:05:28. > :05:31.There is also competition from China, which has been slowly setting
:05:32. > :05:44.up hi-tech diamond cutting companies. For now, the city
:05:45. > :05:49.continues to sparkle as the world's diamond capital. But it knows it has
:05:50. > :05:53.to work harder if it wants to maintain that spot. Small and
:05:54. > :05:57.medium-sized businesses are at the back bone of many Asian economies
:05:58. > :06:02.and there are more women than ever before at the helm, starting their
:06:03. > :06:06.own businesses and continuing family trait. International Women's Day is
:06:07. > :06:10.being marked this weekend. We spoke with one small business owner in
:06:11. > :06:13.Singapore who says that being a woman in a male dominated industry
:06:14. > :06:28.has given her business a competitive edge.
:06:29. > :06:35.Today, we will be doing Janet. This is a follow-up on her tattoo. Some
:06:36. > :06:44.pieces need to be redone. Basically, this is just a touch up. My
:06:45. > :06:49.grandfather, Johnny to sums, came to Singapore in the 1940s and he was
:06:50. > :06:54.the first pioneer artist in Singapore to start the tattooing
:06:55. > :06:57.business. Then my uncles took over the trade and I started my
:06:58. > :07:02.apprentice ship, becoming the third generation. I decided that the
:07:03. > :07:08.business needed a new look and that many things had to change from the
:07:09. > :07:15.stereotypical tattoo shop. Something that reflected a feminine approach
:07:16. > :07:21.to it, something that meant anyone could walk in and feel comfortable
:07:22. > :07:28.and not get frightened. Being a woman in this industry, it's easier
:07:29. > :07:33.for people to approach. People who want a small tattoo, they don't want
:07:34. > :07:40.their whole body to be covered and they don't want to have to deal with
:07:41. > :07:43.the ego or the macho. Sometimes they feel very intimidated when they see
:07:44. > :07:49.a large man who is fully tattooed and they just want a small tattoo.
:07:50. > :07:57.This helps on both sides, both male and female. It took me a few years
:07:58. > :08:01.to realise that I'm my own boss. I work the hardest and do the longest
:08:02. > :08:07.hours. It's still like I'm working for the family. It does not feel
:08:08. > :08:14.like I'm my own boss. Even though I called all of the shots, ironically.
:08:15. > :08:16.More than 70% of Asian businesses are family owned and for centuries,
:08:17. > :08:28.that ownership has moved down the male line. Today, women are taking
:08:29. > :08:36.on family trades. One specific role is standing out. The eldest daughter
:08:37. > :08:40.is often given a lot of responsibility both for keeping the
:08:41. > :08:44.family together and taking care of, making sure the parents are well
:08:45. > :08:48.taken care of, making sure the siblings are well taken care of, and
:08:49. > :08:58.in many cases, the eldest daughter becomes the father's right-hand
:08:59. > :09:05.person. The eldest daughter can be in many cases more trusted than even
:09:06. > :09:09.the sons, even though the eldest son may be expected to take over the
:09:10. > :09:14.business. Because the men often inherit these businesses.
:09:15. > :09:20.Yes. And the men are facing the outside world. The women are behind
:09:21. > :09:25.the scenes. The father often has a special trust in the eldest daughter
:09:26. > :09:31.because she is not experienced as a competitor, she is not directly
:09:32. > :09:36.compared to him. It can be a very close relationship. To the extent
:09:37. > :09:44.that the daughter is an extension of the father in his eyes, she may be
:09:45. > :09:52.asked to do any number of tasks in a wide range. And in many cases,
:09:53. > :09:56.especially these days, women have been very well educated and have
:09:57. > :10:05.experience working in the West and have responded when their fathers
:10:06. > :10:10.call them back to help him out. Time for a quick look at the
:10:11. > :10:18.markets. They were all trading higher olio, but they have now
:10:19. > :10:21.scaled back some of those games. This is mainly as caution sets in
:10:22. > :10:28.ahead of some very crucial numbers coming out of the US tonight. Those
:10:29. > :10:32.crucial employment reports that many investors are waiting for. Thank you