27/03/2014 Asia Business Report

immigration was costing Britons' jobs. Now on BBC News all the latest

business news live from Singapore. New pressures for Malaysia Airlines

and Boeing for the relatives of the passengers of Flight MH370. And we

take you into the world of virtual reality to find out why Facebook is

spending $2 billion on this technology. Welcome to Asia Business

Report. Cutting to viewers around the world. Malaysia Airlines and

Boeing are facing lawsuits over the missing flight MH370 as the search

focuses on images showing a further 122 potential objects in the

southern Indian Ocean. A law from any US have filed a court motion,

alleging the flight crashed due to mechanical failure. The claim right

now is just to obtain discovery of information and that is essentially

somewhat of a fishing exercise in order for the law firm to decide

what motion to take out for an actual claim on behalf of the

passengers. It is an information seeking exercise. Most of the

passengers are from China and Malaysia. What do the laws in these

countries they about missing persons and taking legal action? Nobodies

have been found so far. Death or serious injury had occurred, that

depends on individual laws. The number of years before a meeting

person is declared deceased is seven years. But Malaysia is a signatory

to the Montreal Convention. That allows well requires eight claim to

be brought. What does it state in terms of compensation for family

members? It has to be brought within two years and the amount they have

to claim is that in two parts. The first part is strict. Regardless of

the reason for the cause of death, for Malaysia, the amount that the

next of kin is able to claim from the carrier is 175,000 US dollars

per person. What about for the airline? What kind of impact would

this have on the air the lines bottom`line? And ill and had to take

out liability insurance. It would be about $1 billion so that should be

enough in the insurance to cover claims that are brought by

passengers. China is buying 70 get from Airbus in a $10 billion order.

It is now the only firm set to benefit during China's President

visit during France. On the occasion of the Chinese

President visit to France, a bonanza for Airbus. First, a deal to sell 70

aircraft is to help fill the burgeoning Chinese demand for air

travel. The $10 billion sale had been locked cause of Chinese

objections to EU to impose carbon tax on foreign airlines but those

plans have been suspended. There is more for Airbus. It is also signed

an agreement to extend for ten years the life of its joint venture. There

are plans to build parts of the A330 there as well. Another big contract

on helicopters. Airbus has agreed to build 1000 it's helicopters in

another joint venture with the Chinese. TRANSLATION: 18 billion

euros in contracts means employment, growth and especially respect for

growth for years to come. Airbus has banked on the Chinese and market

taking off and these contracts will be seen as a welcome confirmation.

The European company says it supplies 50% of China's civil

aviation needs. In other business News, the World Trade Organisation

says China's limits on exports of rare earth elements breaks global

trading rules. They say the help secure the French

will use but the elements for domestic companies. China accounts

for more than 90% of the raw materials and used in the

manufacturing of gadgets such as DVDs and mobile phones. The creator

of Candy Crush has had a is appointing debut on the stock

exchange. They got crushed by investors with shares plummeting as

much as 15%. The fall reflects concerns that the company may not be

able to create another game as popular as Candy Crush. Facebook

investors appear to have given the thumbs down to it to billion`dollar

deal to buy virtual reality headset makers. The shares fell 7%

overnight. Closing at $60.38. So why is Facebook 's owner so interested?

Back in the 1980s, virtual reality was the hot new trend, ready to give

us a different view of the world. But then, enthusiasm faded because

the whole experience was not very real. Now, virtual reality is back

after Facebook paid a huge sum for this company, a business is yet to

release this headset to the general public. Companies have been rushing

to experiment with the technology which allows it uses to get a

hundred and 60 degrees view while they play. Virtual reality have come

a long way over the last 20 years, and I get a real sense of walking

into this Tuscan villa of a 3`D environment. I can even try and walk

these stairs. But Facebook and others are betting that this kind of

experience will appeal to people and businesses wait beyond the world of

gaming. So where am I? On a Mac you are in an underground bunker. This

developer is working on a series of games. Your they will start off with

gaming but you will see them go to interesting areas as going back in

time and exploring history. Or even watching football matches. And from

supermarket guiding us around virtual stores to a sports sponsors

giving us a taste of rugby. Plenty of businesses will be trying to take

us into their virtual world. Would you like a job that promises plenty

of peace and quite? In the latest segment on call jobs in Asia, our

correspondent travel to one of the most remote weather stations in

Taiwan. If you like the outdoors and don't

mind a bit of solitude, this could be the job for you. The office is a

tiny island a mere one half square kilometres. And the job is checking

the weather. It belongs to this man, he works one month on, one month. He

shares a job with another weatherman.

With only two stores, no cinemas and nothing to do. Do you get bored?

The remote location and lack of activities could explain why that is

not a lot of competition for his job. Even though the information he

is vital for the local shipping and fishing industries. Every day more

than 5000 fishing boats, cargo ships passed through these waters in the

Taiwan Straits. The fishing industry alone index 3/2 billion dollars into

the economy each year. Overall traffic is expected to rise as

economic ties between Taiwan and China grew closer. Why did you

choose this job? As an added bonus, he found his wife

here. No mean feat given that I just 25 people on the island. So even

after nine years, he says he is not about to quit any time soon. There

is a quick look at the market. Most Asian stocks are in negative

territory as geopolitical concerns rose. Thank you for investing your

time with us. I'm Mike Embley. The top stories

this hour. A satellite has spotted what could

be a massive field of debris in the southern Indian Ocean ` its

described as the most credible lead yet in the hunt for the missing

Malaysian airliner. Footage has emerged showing the

dramatic rescue of a four year`old boy from the mudslide in the US

state of Washington: 16 people have died and more than 90 people are