:00:00. > :00:13.inadequate. It is now time for the latest
:00:14. > :00:19.business news, live from Singapore. China's currency strategy. Will it
:00:20. > :00:27.benefit the world's second`largest economy?
:00:28. > :00:35.And Nepal considers opening its tourism sector to foreign operators.
:00:36. > :00:39.Welcome to Asia Business Report. We start with the value of the Chinese
:00:40. > :00:46.yuan. It has fallen to its lowest level in almost a year. It comes
:00:47. > :00:54.after a decision by the central bank to allow it move up. This was
:00:55. > :01:05.speculation to keep it week to boost the country's economic growth. We
:01:06. > :01:09.got this analysis on the currency. I think this is purely a transitory
:01:10. > :01:18.measure designed to shake out a massive currency speculation that
:01:19. > :01:25.has been batting on the UN to continue appreciating. It is at
:01:26. > :01:30.complete odds with stated policy objectives, moving towards a more
:01:31. > :01:37.domestic growth model to boost growth. You are saying this is not a
:01:38. > :01:46.long`term strategy. But what about the volatility? That might cause
:01:47. > :01:51.trouble, surely? There are exporters in China that are likely to be hit.
:01:52. > :01:57.It is a very transitory measure. It has got a shelflife of another
:01:58. > :02:03.couple of weeks and then it would be back to business as usual. Then we
:02:04. > :02:10.will resume the appreciation path. China, people always the worried
:02:11. > :02:15.about social unrest. If you undermine the currency and reduce
:02:16. > :02:19.people's purchasing power and create inflation, that will not go down
:02:20. > :02:27.well. That is something they will want to avoid. We are seeing weaker
:02:28. > :02:37.growth going on in China at the moment. Could that potentially have
:02:38. > :02:44.an impact. There are many ways you can combat slow growth. Many
:02:45. > :02:51.measures. You can expand fiscal policy, undertake monetary
:02:52. > :02:57.stimulus. It is a blunt tool. I am utterly convinced they would not use
:02:58. > :03:03.it. China's president, Xi Jinping, will
:03:04. > :03:11.be for a European tour. He is scheduled to make stops in France,
:03:12. > :03:18.Germany and Belgium. There has been talk that China could be signing a
:03:19. > :03:22.deal with Airbus worth as much as $20 billion to purchase passenger
:03:23. > :03:32.jets. Petra China owned record profits for
:03:33. > :03:37.2012. It is that it is cutting capital spending for the second year
:03:38. > :03:41.in a row as it is looking at boosting shareholder returns in the
:03:42. > :03:46.middle of a corruption. The investigation started a year ago as
:03:47. > :04:04.part of a drive by Xi Jinping to combat corruption.
:04:05. > :04:10.Alibaba has invested in Tango. The deal comes after Facebook announced
:04:11. > :04:17.plans to acquire a messaging service for $19 billion.
:04:18. > :04:22.There was a 6% drop in profit last year. The first decline in over ten
:04:23. > :04:26.years. The Beijing `based company got in $20 billion in net profit.
:04:27. > :04:35.The fall was due to higher costs. Also, increased competition. Last
:04:36. > :04:44.year China Mobile was granted licence to set up a 40 at work.
:04:45. > :04:49.Mt Cox says it has found 2000 forgotten that coins in an online
:04:50. > :04:55.folder at fortunate longer held any of virtual currency. It comes one
:04:56. > :05:00.week after the digital currency exchange files bankruptcy
:05:01. > :05:04.protection. For more on that story and other
:05:05. > :05:11.headlines, you can visit our website. Can you rent out paradise?
:05:12. > :05:16.That is what Nepal is considering. They want to lease out some of the
:05:17. > :05:24.peaks to private companies in return for a fee. It would open up and
:05:25. > :05:31.visited mountains to attract more climbers.
:05:32. > :05:37.The majestic beauty of the Himalayas. Some describe this as the
:05:38. > :05:41.Switzerland of the East. They have captivated tourists for decades.
:05:42. > :05:47.Ringing in much`needed revenue for Nepal. Nepal got around to hundred
:05:48. > :05:57.$50 million from tourism last year. The second biggest income by
:05:58. > :06:02.Nepalese workers. It is not enough for the demands of the growing
:06:03. > :06:06.population. Now the government is considering a raft of new measures
:06:07. > :06:11.to attract more tourists. Home to eight of the highest mountains in
:06:12. > :06:17.the world, Nepal has been a paradise adventure seekers. Now it wants to
:06:18. > :06:22.capitalise on its pristine natural beauty. Apart from these well`known
:06:23. > :06:30.attractions like Mount Everest, it wants to allow private companies to
:06:31. > :06:35.lease some of the other peaks to boost tourism. It wants to hire out
:06:36. > :06:41.some of the more than 300 Himalayan peaks that are currently open. The
:06:42. > :06:52.government has also announced a sharp cut. TRANSLATION: There are
:06:53. > :06:59.two things. Climbers can only go up to 5500 metres. Now they can claim
:07:00. > :07:05.6000 metres. It will definitely increase the number of new tourists
:07:06. > :07:09.looking for adventure. We have already received proposals from
:07:10. > :07:17.investors to build hotels around the mountains. Operators have already
:07:18. > :07:23.welcomed the proposals. With new strategies, officials hope to boost
:07:24. > :07:28.revenue to $500 million in the next five years. Despite the ambitious
:07:29. > :07:34.targets, Nepal still faces a number of issues, not least the lack of
:07:35. > :07:44.adequate infrastructure. It needs to improve its notorious roads and
:07:45. > :07:50.record on safety. Nepal has postcard natural beauty. The challenge is how
:07:51. > :07:59.to convert that into a must to visit tourist destination. That is a
:08:00. > :08:06.question I posed to a tour operator in Australia.
:08:07. > :08:10.He has been to Nepal many times. I asked him how the idea could affect
:08:11. > :08:15.his travel business. To be honest it would have a fairly marginal effect.
:08:16. > :08:21.It is great that they are opening up new peaks. That would create
:08:22. > :08:38.short`term demand as people want to do thing like first sense. `` first
:08:39. > :08:42.sense. While I can see the intention of trying to increase volume, that
:08:43. > :08:48.is a good one and may have some effect, I do not think it is going
:08:49. > :08:54.to give them the boost they are expecting. That is interesting you
:08:55. > :08:59.say that. There is the factor you suggest against places where people
:09:00. > :09:05.can climb for free. How do you measure the cost to environment?
:09:06. > :09:11.They have lost climbers to bring down trash. You have got the
:09:12. > :09:20.concerns of the affect tourism development has on that. It is a
:09:21. > :09:26.good point. The new initiative that climbers have to take rubbish of
:09:27. > :09:34.Everest is a good one. It has been in place for some time. It will be
:09:35. > :09:37.enforced more strictly. That is the average amount that climbers take
:09:38. > :09:44.up. The rubbish that exists up there will still be there. Having said
:09:45. > :09:50.that, they sent a group up in 2010 to try and reduce the amount of
:09:51. > :09:54.rubbish on the Mt. In terms of spreading it more broadly, the
:09:55. > :10:02.owners is on the operators. Responsibility. They need to have
:10:03. > :10:08.measures in place for the people they take up in the areas.
:10:09. > :10:17.A quick look at the Asian markets. With the exception of Japan,
:10:18. > :10:23.everyone is rising. We saw steep losses yesterday. There might be
:10:24. > :10:32.some bargain`hunting taking place. I should add to our top story, the
:10:33. > :10:41.Chinese Iran is at a 13 month low. `` yuan. Thank you for watching Asia
:10:42. > :10:48.Business Report. Here are the headlines: Planes and
:10:49. > :10:50.ships of the west coast of Australia have resumed their search for
:10:51. > :10:55.possible debris from the missing Malaysian aerolite. Turkey has
:10:56. > :10:56.blocked access to Twitter just hours after the Prime Minister threatened
:10:57. > :10:58.to wipe out the