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Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:14. | |
As Indonesia and India go to the polls, we look at how their | :00:15. | :00:18. | |
prospective new leaders admit the fact the economy. | :00:19. | :00:25. | |
We meet demand passed with building a world`class film studio. | :00:26. | :00:31. | |
Thanks for watching Asia Business Report on BBC World News. Two of | :00:32. | :00:41. | |
Asia's largest emerging market could be in for big changes in the coming | :00:42. | :00:46. | |
year. India and Indonesia are both in the midst of the election cycles. | :00:47. | :00:51. | |
Leaders are hoping that both will deliver on economic reforms but it | :00:52. | :00:55. | |
is now in the hands of the voters. So what does the future look like? | :00:56. | :01:01. | |
Earlier I spoke with the global chief economist at a bank, asking | :01:02. | :01:06. | |
for his outlook on Indonesia. The pre`election campaign has suggested | :01:07. | :01:08. | |
there would be a strong candidate coming through. The Parliamentary | :01:09. | :01:13. | |
elections suggest that will not be the case. The likelihood is we will | :01:14. | :01:17. | |
get a Coalition government and that slows down the process of reform. | :01:18. | :01:22. | |
And several key actions are at risk here. And rolling back this fuel | :01:23. | :01:33. | |
price subsidies? That is the big issue because that is the area where | :01:34. | :01:37. | |
the deficit has really expanded. We need to see those rolled back. We | :01:38. | :01:40. | |
need infrastructure as well and that requires a strong bureaucracy and | :01:41. | :01:45. | |
long`term planning regimes. You need a really good form for building on | :01:46. | :01:52. | |
and Indonesia needs a strong government. Are we likely to see a | :01:53. | :01:56. | |
seachange in India but now they have a five`week election, basically, | :01:57. | :02:02. | |
they have been in an economic crisis for two decades. I would not | :02:03. | :02:10. | |
characterise it in those terms, it is not that bad. I inflation has | :02:11. | :02:15. | |
been a problem but from the garden to onwards, there has been strong | :02:16. | :02:18. | |
growth in India which has recently slowed, partly because of high | :02:19. | :02:25. | |
interest rates. The reform process has really slow down in India so the | :02:26. | :02:29. | |
election is happening now and it should be a strong candidate come | :02:30. | :02:34. | |
through. today, US tobacco companies will make their annual payment to | :02:35. | :02:40. | |
provide healthcare for people with a smoking`related illnesses. But South | :02:41. | :02:44. | |
Korea be headed down a similar path? In a landmark case, a loss of | :02:45. | :02:53. | |
domestic and foreign tobacco firms, seeking to recoup the cost of | :02:54. | :02:56. | |
treating a group of smokers who are diagnosed with lung and broke | :02:57. | :03:00. | |
cancer. I asked our correspondent in South Korea whether the tobacco | :03:01. | :03:05. | |
companies were worried. In the past, lawsuits have been brought by | :03:06. | :03:08. | |
individuals or families but this is the first time that a state agency | :03:09. | :03:13. | |
has brought a lawsuit. It has access to more information in making its | :03:14. | :03:17. | |
case in the past, Korean tobacco companies have said there are is not | :03:18. | :03:23. | |
strong enough evidence to link smoking to individual cases of | :03:24. | :03:28. | |
cancer. That is something the state agency is hoping to overturn. In | :03:29. | :03:33. | |
this lawsuit, they are not only taking on the largest tobacco | :03:34. | :03:37. | |
company but also American Phillips, the companies that will do have | :03:38. | :03:42. | |
faced lawsuits in the US. There is a lot more information around in | :03:43. | :03:49. | |
making this case. Could this development change the general | :03:50. | :03:53. | |
smoking habit in Korea? There are a lot of smokers in Korea, | :03:54. | :03:58. | |
particularly the male population. 40% of male Koreans spoke. `` smoke. | :03:59. | :04:06. | |
The government has been trying to clamp down on smoking. Cigarettes | :04:07. | :04:10. | |
are very cheap here. On the streets, you can see lots of people puffing | :04:11. | :04:16. | |
away. The government has been trying to make public spaces and area where | :04:17. | :04:19. | |
no one is allowed to smoke but it has been difficult to enforce. This | :04:20. | :04:22. | |
lawsuit is another way for the government to put pressure on people | :04:23. | :04:27. | |
to raise awareness and at a time when there is focus on welfare here | :04:28. | :04:31. | |
in South Korea, the welfare here in South Korea, but while fat being | :04:32. | :04:33. | |
demanded of the government. Very little cash to pay for it. Another | :04:34. | :04:37. | |
area where the government is trying to raise awareness and also save | :04:38. | :04:44. | |
some cash. In other business News making headlines, Google has bought | :04:45. | :04:51. | |
tight and airspace. The Internet giant said it could help with it | :04:52. | :04:56. | |
ambition of bringing where the access to remote parts of the world. | :04:57. | :05:01. | |
Facebook has been in negotiations with Titan and the few weeks ago, | :05:02. | :05:06. | |
announced plans to build solar power drones and satellites. Canada's tax | :05:07. | :05:12. | |
agency has seen it online security, right because of the Heartbleed | :05:13. | :05:18. | |
cyber bug. It said 900 people had their private information, might | :05:19. | :05:21. | |
after hackers exploit it said 900 people had their private | :05:22. | :05:22. | |
information, might after hackers exploited online vulnerabilities due | :05:23. | :05:26. | |
to the bug. British parenting website, Mumsnet, also said they | :05:27. | :05:28. | |
were hacked recently due to this bug. It wasn't too long ago that | :05:29. | :05:33. | |
Asia's best and brightest business students lived about seeds for | :05:34. | :05:40. | |
top`notch education. A council which administers the entrance exams says | :05:41. | :05:45. | |
that is changing. More students are collecting to stay in their home | :05:46. | :05:50. | |
country for their studies. We look to Singapore to ask if that is the | :05:51. | :05:56. | |
case. We have advantages when we go to other places. Imagine in the UK, | :05:57. | :06:02. | |
who can speak Chinese? Not many. If we go there, we have the best of | :06:03. | :06:08. | |
both worlds and will do pretty well. I would prefer to stay in Singapore | :06:09. | :06:13. | |
because I want to do accountancy and Institute here is considered one of | :06:14. | :06:18. | |
the world. Why would I go overseas? We lack I will stay in Singapore. I | :06:19. | :06:26. | |
am used to the lifestyle here. Google president and CEO of tee also | :06:27. | :06:31. | |
told me why the region 's universities are becoming more | :06:32. | :06:37. | |
competitive. Two things. One is you are finding more high`quality | :06:38. | :06:39. | |
management education institutions in Asia. In the 2000, there were zero | :06:40. | :06:47. | |
Asian schools in the Financial Times list of the top 40 schools in the | :06:48. | :06:51. | |
world. Last year there were eight. Those eight are not just in one | :06:52. | :06:55. | |
location, they are right across the region. The top business schools in | :06:56. | :07:04. | |
Europe and the US and now setting up campuses here in Asia? exactly. You | :07:05. | :07:10. | |
have the option to go to Asian business calls as well as the Asian | :07:11. | :07:15. | |
campuses of the great European and US business schools. The supply is | :07:16. | :07:20. | |
there, if you will, to match the demand which has been around for a | :07:21. | :07:25. | |
long time. Asian candidates want quality business education and now | :07:26. | :07:29. | |
they can get it within the region. There is secular demand for more and | :07:30. | :07:32. | |
more high`quality management education. | :07:33. | :07:41. | |
Imagine being given free rein in the blank cheque to design and build a | :07:42. | :07:46. | |
world`class film studio. That was a job given to a veteran of the film | :07:47. | :07:52. | |
industry in Australia with a career spanning four decades. As part of | :07:53. | :07:56. | |
our series profiling ages coolest jobs, our correspondent caught up | :07:57. | :08:04. | |
with him. If your ambition is to get into the | :08:05. | :08:07. | |
film industry and you have the ability to think big, this could be | :08:08. | :08:12. | |
the job for you. This man designed and developed with complex and his | :08:13. | :08:16. | |
job is to bring in filmmakers from around the world. Welcome to the | :08:17. | :08:22. | |
studios. He was headhunted by the Malaysian government to turn the | :08:23. | :08:26. | |
little`known city into a beast for international film and television | :08:27. | :08:32. | |
productions. Blink and you could think you are in Hollywood. That's | :08:33. | :08:36. | |
because he spent ten years there before moving to Malaysia. He | :08:37. | :08:39. | |
started out in television in Australia, 40 years ago before | :08:40. | :08:43. | |
working in production companies in ten countries. Take us through the | :08:44. | :08:46. | |
process of what happened when you first came here and it was all | :08:47. | :08:52. | |
jungle and now, we have all of these films that. What we did the early | :08:53. | :08:56. | |
days while it was still jungle, we did all the designing and got all | :08:57. | :09:01. | |
the right first. Then, we went into construction. We spent months and | :09:02. | :09:04. | |
months. We cleared and moved something like a cubic feet of | :09:05. | :09:11. | |
earth. His job is not about glitz and glamour. It is about hiring and | :09:12. | :09:15. | |
managing all the staff needed to support filmmakers and their huge | :09:16. | :09:20. | |
cruise. If he is not here working behind the scenes, he is travelling | :09:21. | :09:24. | |
the world drumming up new business. So this is a unique opportunity, you | :09:25. | :09:33. | |
think your job is called? Her it is very cool. Not many people get to do | :09:34. | :09:36. | |
this and then build an industry as well. There must be some calendars | :09:37. | :09:42. | |
working in Malaysia is. The challenges are that this is unique. | :09:43. | :09:46. | |
The fact that Malaysia has an industry and does local films. They | :09:47. | :09:51. | |
have never got into international production in a big way. He is now | :09:52. | :09:58. | |
overseeing the final stage of construction, he and his team have | :09:59. | :10:01. | |
come a long way since the project started four years ago. There have | :10:02. | :10:05. | |
been some low points. When he had many a burning questions. How do I | :10:06. | :10:11. | |
bring the infrastructure required? How do I bring the labour that is | :10:12. | :10:15. | |
required to service this operation and service the production that will | :10:16. | :10:20. | |
come to the operation. His ads are? Set up a training college to support | :10:21. | :10:23. | |
the industry for years to come. It is a plan that may well pave the way | :10:24. | :10:28. | |
for local talent to one day take over. Thank you for investing your | :10:29. | :10:36. | |
time with us. Sport today is up next. | :10:37. | :10:43. |