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President Obama continues his push for a key trade pact despite | :00:16. | :00:21. | |
opposition in Malaysia. And, will they rebound? We look at how Asian | :00:22. | :00:26. | |
currencies welfare after a week of falls. `` will fare. | :00:27. | :00:34. | |
Welcome to Asia Business Report. Security and economic ties will | :00:35. | :00:43. | |
dominate president Obama's visit to the Philippines. It is his final | :00:44. | :00:50. | |
stop on a week`long trip to four Asian nations. People rallied in | :00:51. | :01:01. | |
Malaysia against the Trans`Pacific Partnership. It looks like an uphill | :01:02. | :01:06. | |
battle to get Malaysia to sign up, as the president said there were | :01:07. | :01:09. | |
issues to apply and out, and fears that it could lead to higher prices | :01:10. | :01:13. | |
for food and medicine. The concerns were shared by these protesters. We | :01:14. | :01:30. | |
reject and vehemently protest this, which will affect millions of | :01:31. | :01:35. | |
Malaysian people. Our economic stability, we should decide our | :01:36. | :01:45. | |
self, not the West. Big power countries will have influence over | :01:46. | :01:50. | |
small economies, so it is not fair. It is a very different story in the | :01:51. | :01:55. | |
Philippines, which is yet to join the TPP negotiations. What can we | :01:56. | :02:00. | |
expect from his next stop in the Philippines? That is a question I | :02:01. | :02:08. | |
discussed. There are several areas that the government announced as key | :02:09. | :02:12. | |
discussion points during the visit. One of them, political and security, | :02:13. | :02:18. | |
for obvious reasons, and the other perhaps less obvious one is the | :02:19. | :02:25. | |
issues of disaster relief, and humanitarian aid during natural | :02:26. | :02:30. | |
disasters. The second one that was announced was the expansion of trade | :02:31. | :02:38. | |
and investment. Inflows into the Philippines, we are the lowest | :02:39. | :02:46. | |
percentage of FDI inflows from the US. Do you think it is the | :02:47. | :02:54. | |
relationship the US has with China could affect investment? We have | :02:55. | :03:00. | |
done a risk assessment, and so far it has not changed our view that the | :03:01. | :03:05. | |
Philippines will continue to be an attractive investment destination. | :03:06. | :03:09. | |
To have been tensions with China, so surely some of the investment from | :03:10. | :03:13. | |
China has been impacted was yellow yes, we were affected, we did see | :03:14. | :03:22. | |
fewer arrivals. Japan has posted its biggest hike in | :03:23. | :03:38. | |
retail sales in 17 years. The government data for March said that | :03:39. | :03:42. | |
consumers went on a shopping spree before rising sales tax at the | :03:43. | :03:46. | |
beginning of April. Figures show they stocked up on electronics, | :03:47. | :03:49. | |
toiletries and clothes, to avoid paying higher prices in the first | :03:50. | :03:56. | |
tax hike since 1997. China's second`largest bank has reported a | :03:57. | :03:59. | |
10% increase in net profits. The China Construction Bank is the third | :04:00. | :04:03. | |
of the big four lenders to report results higher than expected. | :04:04. | :04:07. | |
Profits have been put down to higher income from interest and bank fees. | :04:08. | :04:12. | |
After nearly two weeks of protests, most of the workers who staged one | :04:13. | :04:16. | |
of China's biggest strikes are expected back on the job today. Or | :04:17. | :04:21. | |
than two thirds of them return to work at a factory, after the company | :04:22. | :04:25. | |
agreed to some of their main demands. The firm estimates the | :04:26. | :04:34. | |
strike cost around $7 million. Will Asia's major currencies rebound this | :04:35. | :04:36. | |
week after falls in many countries last week? Most of them slid between | :04:37. | :04:41. | |
half and 1%. The Indonesian rupiah led the pack, falling 1.3%. China's | :04:42. | :04:54. | |
you one fell almost half a percent. `` yuan. I think a bounce is likely. | :04:55. | :05:14. | |
We wouldn't be participating in that. We are concerned with global | :05:15. | :05:23. | |
markets, and equity. At the moment, we won't buy anything that is | :05:24. | :05:26. | |
increasing in volatility and has been performing poorly. They are | :05:27. | :05:29. | |
likely to bounce, there are short positions in these currencies that | :05:30. | :05:31. | |
can be rectified, but rather than can be rectified, but rather than | :05:32. | :05:37. | |
selling into those, in terms of the Indonesian rupiah, for example. I | :05:38. | :05:49. | |
don't see a long`term bounce or turn coming in terms of currency any time | :05:50. | :05:57. | |
soon. Lenovo is already the world's largest computer maker, but that is | :05:58. | :06:02. | |
not all it wants to be known for. It is betting its future on smart | :06:03. | :06:04. | |
phones, and is moving forward with its plan to buy IBM server business. | :06:05. | :06:10. | |
It plans to talk to investors in Singapore today, as it tries to | :06:11. | :06:13. | |
raise funds in Asia for future acquisitions. We explain why Lenovo | :06:14. | :06:21. | |
is targeting declining tech Rance. Variable to turn around these low | :06:22. | :06:27. | |
margin divisions and make them more profitable by shifting operations to | :06:28. | :06:31. | |
China, and then re` exporting to these developed markets where there | :06:32. | :06:39. | |
is always a recognised brand name. What about mobile phones? We know | :06:40. | :06:47. | |
they are waiting for approval to buy Motorola, it wants to push into | :06:48. | :06:51. | |
smart phones, but this is crowded territory. You will have to take on | :06:52. | :06:56. | |
the iPhone and the Samsung galaxy. That is true, but the thing about | :06:57. | :07:04. | |
the smart phone market is that it is very mature in western Europe and | :07:05. | :07:14. | |
North America, but there are developing markets where Lenovo can | :07:15. | :07:20. | |
offer a product with a similar functionality to a Samsung device. | :07:21. | :07:28. | |
How are they going to do that? Their strategy seems all about acquiring | :07:29. | :07:31. | |
other businesses, are they coming up with their own ideas? They have some | :07:32. | :07:37. | |
innovation, it would be wrong to say they had no innovation that goes on | :07:38. | :07:43. | |
at Lenovo. They have come out with some interesting designs in the | :07:44. | :07:46. | |
hybrid PC market, there is no reason why they can't do more of that sort | :07:47. | :07:49. | |
of thing in the tablet or mobile phone markets. With India in the | :07:50. | :07:54. | |
grips of one of the most important elections in decades, booksellers | :07:55. | :07:59. | |
are trying to cash in on people's hunger for information about the | :08:00. | :08:01. | |
nation's lenders and leading contenders, and leaders. There is a | :08:02. | :08:09. | |
growing market as literacy rates improve, but book markets are still | :08:10. | :08:15. | |
losing out to cheaper, pirated books. | :08:16. | :08:18. | |
The moment you enter a bookstore like this, there is no doubt in your | :08:19. | :08:22. | |
mind there is an election on. The whole country is gripped by | :08:23. | :08:27. | |
politics. More may has a higher literacy, more people can read and | :08:28. | :08:31. | |
write, and this is Connie to overdrive. In India, one man who has | :08:32. | :08:37. | |
been written a lot about is Narendra Modi, widely seen by many as a | :08:38. | :08:43. | |
front`runner to this election. Over 15 books on him have been published, | :08:44. | :08:47. | |
half of which have hit the shelves in the past couple of months. This | :08:48. | :08:53. | |
is the book in huge demand. It analyses the outgoing PM, Manmohan | :08:54. | :09:01. | |
Singh, and some allegations it had been made have created a stir in the | :09:02. | :09:05. | |
political world, which means public and gold. It was out of stock within | :09:06. | :09:11. | |
a couple of days of its release, which prompted more people to read | :09:12. | :09:17. | |
it. There are so many political books in the market, but is there | :09:18. | :09:22. | |
demand for them? This political election has a huge buildup. There | :09:23. | :09:29. | |
is lots more awareness, and people want information. They pick up looks | :09:30. | :09:35. | |
on the elections. You might have noticed that most of the books we | :09:36. | :09:39. | |
looked at many are published in Hindi and other dialects as well. | :09:40. | :09:43. | |
You will find them commonly in small shops, on the roadside, or among the | :09:44. | :09:47. | |
piles of books that are sold on the pavements. These are mostly pirated | :09:48. | :09:52. | |
and are sold at a much lower price, and this has been a long`term | :09:53. | :09:54. | |
headache for the publishing industry. Despite that, the Indian | :09:55. | :09:59. | |
book market has been growing at a rapid pace. Any international | :10:00. | :10:03. | |
publishing houses have set up offices here in the past few years. | :10:04. | :10:08. | |
That have a quick look at the markets. They are flat to weaker at | :10:09. | :10:15. | |
the moment, with losses of over 160 points in Japan. | :10:16. | :10:18. | |
the moment, with losses of over 160 points That is essentially taking | :10:19. | :10:25. | |
cues from the close on Friday. Deepening concerns about what is | :10:26. | :10:28. | |
going on in the Ukraine as well. Thank you for watching. | :10:29. | :10:40. | |
Our top stories: Pro`Russian separatist in the Ukraine have freed | :10:41. | :10:49. | |
one European monitor on medical grounds. Another | :10:50. | :10:50. |