:00:00. > :00:00.said the public had lost trust in the principle that remuneration was
:00:00. > :00:00.linked to performance. Now on BBC News all the latest
:00:00. > :00:18.business news live from Singapore. The politics of trade, will the US
:00:19. > :00:23.President succeed in breaking a deadlock with Japan over
:00:24. > :00:25.agricultural tariffs? Asia's contribution of house sales
:00:26. > :00:33.in the region will boost earnings prospects for Boeing.
:00:34. > :00:41.Thanks for watching Asia Business Report. As you may have heard, on
:00:42. > :00:46.our world news programme, the Obama kicks off his Asian tour in Japan
:00:47. > :00:50.where he is due to spend two days in Tokyo, although Japan they want to
:00:51. > :00:55.discuss regional security and China's rising hazards in the
:00:56. > :00:59.region. Obama is keen to talk about trade and specifically, the
:01:00. > :01:03.transpacific partnership. The potential free trade agreement.
:01:04. > :01:07.Japan and the US have been in a deadlock over how much possession of
:01:08. > :01:11.the Asian economy should allow to be part of the group. They revolve
:01:12. > :01:18.around removing tariffs and agriculture products that is right,
:01:19. > :01:25.beef and dairy products. Earlier, I spoke to a chief economist in Tokyo.
:01:26. > :01:28.I asked him whether the two sides will be able to work out their
:01:29. > :01:37.differences during a visit. There are still details to nail down but I
:01:38. > :01:41.do... I don't think Obama and Shinzo Abe will come out to the press
:01:42. > :01:49.conference and say that it is done. They will say that there are
:01:50. > :01:53.details. Dot. There are ongoing negotiations. I am fairly confident
:01:54. > :02:00.that will come to an agreement before the end of the year. With the
:02:01. > :02:08.elimination of these tariffs, how much will this improve Japan's
:02:09. > :02:11.economic growth? In a very conservative government estimate,
:02:12. > :02:21.they came out with the number of 0.7% of GDP. That might sound small
:02:22. > :02:25.but it is almost 13 yen. When he tried include nontariff measures
:02:26. > :02:32.such as deregulation in the service sector, that number will double. On
:02:33. > :02:36.the earnings front, PFC parent, Yum Brands the rise in sales in China in
:02:37. > :02:40.the first three months of the year. As it recovers from an evening flew
:02:41. > :02:45.outbreak and a safety scare last year which led to a fall in demand.
:02:46. > :02:53.It is the biggest market in the country which also operates Pizza
:02:54. > :02:57.Hut. A fine of 7/2 million dollars has been issued to Royal Bank of
:02:58. > :03:00.Scotland and reprimanded the institution for failing to detect a
:03:01. > :03:05.series of unauthorised transactions by one of its traders. The fine
:03:06. > :03:09.follows and conviction of a former trader for fraud in 2013. She was
:03:10. > :03:14.sentenced to 15 months in prison after being caught falsifying
:03:15. > :03:20.records of emerging market trades. Net profit at China Mobile has
:03:21. > :03:25.fallen by nearly 10% in the first quarter when compared to the
:03:26. > :03:28.previous year. That is the lowest quarterly profit in five years. The
:03:29. > :03:34.company is struggling to compete with mobile apps offering messaging
:03:35. > :03:39.services on the mainland such as Tencent's popular application. China
:03:40. > :03:44.Mobile is the biggest carrier in the world by subscribers. It has been a
:03:45. > :03:47.long time coming but Pakistan plans to hold its first auction for three
:03:48. > :03:52.G and four G mobile networks. It is a big deal for the government
:03:53. > :03:55.because they have the option will bring in more than $1 billion and
:03:56. > :03:59.boost the economy and create tons of jobs. But what does the new
:04:00. > :04:06.technology mean for Istanbul? Growing number of phone users? Our
:04:07. > :04:12.correspondent has more. This taxi driver uses a mobile phone app to
:04:13. > :04:14.drum up business on the Internet connections are currently so slow
:04:15. > :04:24.that not many customers to book cabs online. Faster services, he hopes
:04:25. > :04:29.will change all that. TRANSLATION: There is less work at the moment
:04:30. > :04:32.because the Internet speed is slow. Requests come slowly through the app
:04:33. > :04:36.and by the time they have sent a request, we have lost our client.
:04:37. > :04:46.Developer is hoping that faster Internet connections will transform
:04:47. > :04:49.their business. Not only is he now very committed to his taxi and
:04:50. > :04:53.refilling those requests, he is now telling other drivers that,
:04:54. > :05:00.Haydariyeh service you can use to get more riots.
:05:01. > :05:10.According to a recent report, three G and 40 could generate up to
:05:11. > :05:17.900,000 jobs by 2018. It could boost GDP between 3.8 and $11.8 billion by
:05:18. > :05:23.2020. It could raise an extra 230 two 700 billion dollars in taxes.
:05:24. > :05:27.While the network effect of 3`D and 40 will create jobs in the cities,
:05:28. > :05:35.the good news it will be a cross the border in rural areas as well. This
:05:36. > :05:46.the introduction of three G and four G might be just what the doctor
:05:47. > :05:50.ordered. It is advanced technology and will allow us access to patients
:05:51. > :05:55.at any time and any place. This will save time and we can reach more
:05:56. > :05:57.people in rural areas. Mac mini in Pakistan are looking forward to the
:05:58. > :06:02.boost that high`speed Internet connections will bring. With options
:06:03. > :06:04.for licences only just getting under way, it will be a while before can
:06:05. > :06:19.enjoy the benefits. One US company that relies heavily
:06:20. > :06:25.on Asia is Boeing. China has placed an order for Boeing 737 aircraft.
:06:26. > :06:31.Boeing is about to unveil its earnings from the March, the January
:06:32. > :06:38.to March quarter. Earlier this year, it warned investors that profits
:06:39. > :06:46.could fall short of expectations. This is the aircraft that has been
:06:47. > :06:51.bowling's best plane ever. The 737 has dominated the plane market along
:06:52. > :06:58.with its rival, Airbus. The plane could play an even bigger role in
:06:59. > :07:02.shaping its future and this is why. With a demand for air travel and
:07:03. > :07:07.fast`growing economies, Asia has emerged as the main engine of growth
:07:08. > :07:13.for plane makers. However, carriers in the region have been keen to buy
:07:14. > :07:20.fuel`efficient, aircraft suited to meet regional travel demand. And
:07:21. > :07:27.this is where Boeing 737 has come into play. China's Shandong airlines
:07:28. > :07:34.based in order worth 6.4 billion dollars. Boeing also won a similar
:07:35. > :07:39.size order from India for the aircraft earlier this year. However,
:07:40. > :07:45.the planemaker has also had to face tough times. Bowling's stronghold on
:07:46. > :07:50.the Japanese market where it enjoys a monopoly for decades was broken by
:07:51. > :07:55.rival Airbus late last year. That was a tribute to impart to the
:07:56. > :08:01.problems with its 787 Dreamliner planes of which Japanese carriers
:08:02. > :08:06.are the biggest operators. So while it has been making a smooth landing
:08:07. > :08:10.in some markets, it has faced turbulent times in others. How well
:08:11. > :08:19.become an ever the latter will play a key role in shaping its fortunes
:08:20. > :08:22.in the region. With Asian travel on the rise, one
:08:23. > :08:27.of Singapore 's best`known company is focusing on buying up hotels to
:08:28. > :08:31.cater to them. The group Holdings is one by one of Singapore 's
:08:32. > :08:37.wealthiest families with over $1 billion and on the rich list, this
:08:38. > :08:45.man is the third generation of the family to run the country.
:08:46. > :08:53.Our group, we do not do much presidential, we are predominately
:08:54. > :08:57.commercial, hospitality and retail. That is the legacy of the company.
:08:58. > :09:05.That market has been untouched and is still gunned lazing. Is
:09:06. > :09:12.correlated to its rivals and not to government measures. The government
:09:13. > :09:17.measures are helping Singapore fervour which is causing a further
:09:18. > :09:21.escalation in the hospitality war. Your family owned several hotels in
:09:22. > :09:28.the region, plans to develop more. Why the focus on hotels and tourism?
:09:29. > :09:33.The reason, I like the hotel sector right now is because the weaker
:09:34. > :09:40.growth of tourism is in Singapore. We have seen a growth in the past
:09:41. > :09:48.five years of close to 100%. It is not normal to see such growth in a
:09:49. > :09:56.sector. We have seen it grow a crazy percentage in the past few years.
:09:57. > :10:02.The luxury and upscale market was untouched. Going forward, that is
:10:03. > :10:14.why I look at that as a very Lukaku industry. It was the CEO of royal
:10:15. > :10:17.group Holdings. Here is a quick look at the market in Asia. Benefiting
:10:18. > :10:22.from the positive tone on Wall Street overnight. Gains could be as
:10:23. > :10:28.many copies are releasing their first quarter earnings numbers.
:10:29. > :10:31.Japan is up and South Korea and Australia are also in positive
:10:32. > :10:41.territory. Banks are watching. Bye for now. `` thanks for watching.
:10:42. > :10:45.I'm Mike Embley. The top stories this hour. Ukraine's acting
:10:46. > :10:47.president has called for a new offensive against pro`Russian
:10:48. > :10:50.militants and accused them of torturing Ukrainian government
:10:51. > :10:52.supporters. The confirmed death toll in South
:10:53. > :10:53.Korea is very