:00:00. > :00:00.ones, They have been named by the Ministry of Defence, who say the
:00:00. > :00:00.crash appears to have been a "tragic accident." Now on BBC News all the
:00:00. > :00:17.latest business news live from Singapore.
:00:18. > :00:27.President Obama continues his push for a key trade pact with Malaysia.
:00:28. > :00:40.And we will look at how the currency 's welfare after a week of falls.
:00:41. > :00:43.Welcome to this Monday edition. A security and economic ties will
:00:44. > :00:47.dominate Barack Obama's visit to the Philippines after a final stop on a
:00:48. > :01:01.week`long tour of four Asian countries. He will arrive in
:01:02. > :01:07.Malaysia mackerel `` in Malaysia story. It looks like an uphill
:01:08. > :01:11.battle to get Malaysia to sign up, after the Prime Minister said there
:01:12. > :01:14.was still issues to iron out, including domestic worries, that
:01:15. > :01:19.would lead to higher prices of food and medicines. Concerns shared by
:01:20. > :01:28.these protesters. We reject and protest the US agenda of wanting the
:01:29. > :01:33.militia to agree on regulation, that we affect directly. Millions of
:01:34. > :01:41.lives of the Malaysia people. It is nonsense. We should decide it
:01:42. > :01:49.ourselves, our economic stability. Not the West. A big power country
:01:50. > :01:54.can have an influence on the small economy. It is not fair. It is quite
:01:55. > :01:57.a different story in the Philippines, which is yet to join
:01:58. > :02:01.the TPP negotiations. Trade will still be high on President Obama's
:02:02. > :02:08.agenda. What can we expect from his next stop in the Philippines? That
:02:09. > :02:16.is a question I discussed from the financial Philippines. It is a key
:02:17. > :02:21.discussion point in this visit. One of them, of course, political and
:02:22. > :02:24.security, for obvious reasons. Another not so obvious one is the
:02:25. > :02:32.traditional security, which is for disaster relief. And humanitarian
:02:33. > :02:37.aid during natural disasters. The second one announced was expansion
:02:38. > :02:47.of trade and investment. Those close to the Philippines, the US comprises
:02:48. > :02:53.20% in total. We are the lowest, not even 1%. Do you think concerns that
:02:54. > :02:56.the Philippines now have with China, there is political disputes, could
:02:57. > :03:01.that affect investment going into the Philippines? We have done a risk
:03:02. > :03:05.assessment of what this means, and so far, it has not changed our view.
:03:06. > :03:12.The Philippines will continue to be an attractive investment
:03:13. > :03:18.destinations. The tensions have been from China, surely investment from
:03:19. > :03:21.China has been impacted? `` destination. We have seen some
:03:22. > :03:27.outward displacement from China, whenever they have been displaced,
:03:28. > :03:33.there is some rivalry. We have to keep alert and watch out for
:03:34. > :03:38.whatever happens. Japan has posted the biggest hike in retail sales in
:03:39. > :03:45.17 years, the government data from March says consumers went on a big
:03:46. > :03:50.shopping spree before taxes rose in April. They stocked up in toiletries
:03:51. > :03:53.and clothes and electricals to avoid paying higher tax rates in the first
:03:54. > :03:59.tax hike in nearly two decades. China's second`largest bank has in
:04:00. > :04:07.macro cull has reported a 10% increase in its quarter. The rise in
:04:08. > :04:11.profits has been put down to higher income from interest and bank fees.
:04:12. > :04:14.After nearly two weeks of protests, most of the workers who staged one
:04:15. > :04:19.of China's biggest strikes are expected back on the job today. More
:04:20. > :04:32.than two thirds of them returned to the factory on Friday. After the
:04:33. > :04:35.company owned by UAUN. Listen to some of their demands. Some
:04:36. > :04:44.currencies will rebound after falls last week. Most of them slid between
:04:45. > :04:49.one and 0.5%. Indonesia led the pack, they went to a seven week
:04:50. > :04:58.low. Chinese fell 205%, the lowest in 16 months. Ben Collett, explains
:04:59. > :05:06.what is going to happen in the week ahead `` 2.5%. It has stopped, I
:05:07. > :05:12.think it balances lightly, we would not be participating in that. Again,
:05:13. > :05:18.we are very concerned about markets globally. Equity specifically, and
:05:19. > :05:26.because of that, our current attitude is not to buy anything that
:05:27. > :05:33.has seen an increase in volatility, but they will likely bounce. It will
:05:34. > :05:45.rectify, but I would rather be selling into those, the R is
:05:46. > :05:53.slightly different, I do not foresee a balance or turn coming any time
:05:54. > :05:56.soon. Ben Collet speaking earlier. The Chinese tech giant is one of the
:05:57. > :06:02.world 's largest computer makers, that is not all it wants to be known
:06:03. > :06:07.for. It is spending its future on smart phones, and plans to go
:06:08. > :06:10.forward in business. It is scheduled to talk to investors in Singapore
:06:11. > :06:14.today about the planned dollar bond sale as it tries to raise funds in
:06:15. > :06:22.Asia for future acquisitions. Andrew Milroy explains what is behind this.
:06:23. > :06:27.They are struggling to get out of the existing Chinese market, and the
:06:28. > :06:32.PC market, that has been to acquire other technology companies, in
:06:33. > :06:36.related markets, such as the tablet and mobile markets, but also these
:06:37. > :06:40.companies allow them to move outside of China and get a strong position
:06:41. > :06:47.in other geographies around the world. That seems to be their
:06:48. > :06:52.strategy, pretty much going forward, will it continue to work for them,
:06:53. > :06:59.that strategy, buying up a slightly declining technology firm? `` other
:07:00. > :07:03.technologies. There are these low margins, and they can make them more
:07:04. > :07:09.profitable by shifting operations to China, and then re` exports to these
:07:10. > :07:13.developed markets, where IBM had a presence with products like the
:07:14. > :07:17.ThinkPad, for example, on the PC market. What about mobile phones?
:07:18. > :07:24.They are waiting for approval to buy motorail ability, a big announcement
:07:25. > :07:28.made earlier this year. `` Motorola's mobility. They will have
:07:29. > :07:33.to take on the iPhone and some sun? The thing about the smart phone
:07:34. > :07:43.market is that it is mature in the rich and markets of the world
:07:44. > :07:48.``Samsung. BlackBerry are still very strong, and in Indonesia, there is a
:07:49. > :07:55.huge opportunity like them, they can offer a product with similar
:07:56. > :08:00.function to them at a lower price. How can they do that? There's the
:08:01. > :08:03.question of innovation. The strategy seems all about acquiring other
:08:04. > :08:11.businesses, are they coming up with their own ideas quitting mark they
:08:12. > :08:16.are getting patents. You cannot say that there is no innovation that is
:08:17. > :08:19.going on there. They have come out with some interesting designs in the
:08:20. > :08:29.PC market, there is no reason why they cannot do more of this in the
:08:30. > :08:33.tablet or mobile markets. In India, they are in the grip of one of the
:08:34. > :08:37.biggest elections. There is still demand for books, but they are
:08:38. > :08:39.losing out to the cheaper pirates of literature.
:08:40. > :08:43.The moment you walk into a bookstore like this, there is no doubt in your
:08:44. > :08:50.mind that there is an election on, the whole country is gripped by
:08:51. > :08:55.politics. Cities like Mumbai have a higher rate of literacy, and that is
:08:56. > :09:02.the reason why the publishing world has gone into overdrive. Inevitably,
:09:03. > :09:08.one man written a lot about is this man, a front`runner in the election
:09:09. > :09:13.race. 15 books have been published about him so far this year, half of
:09:14. > :09:19.them had hit the shelves in the last couple of months. This is the book
:09:20. > :09:23.in huge demand, it analyses outgoing Prime Minister `` the outgoing Prime
:09:24. > :09:28.Minister, and claims and revelations have been made in the book, which
:09:29. > :09:31.have created a stir in the political world. It means publishing gold. The
:09:32. > :09:37.book was out of stock within a couple of days of release, which
:09:38. > :09:41.prompted the need for more prints. The book is kept outside of this
:09:42. > :09:47.place, there are so many political books in the market, but is that the
:09:48. > :09:53.demand? This particular election has a huge buildup. There is a lot more
:09:54. > :09:57.awareness, and it translates into the need for more information.
:09:58. > :10:01.People pick up books in the election. Like most of the books
:10:02. > :10:06.that we looked at, many books are in English, but they are also published
:10:07. > :10:14.in other dialects like Hindi. You can find them on the pavement or in
:10:15. > :10:20.shops. These books are sold at a lower price, because they are
:10:21. > :10:24.pirated. The publishing industry has taken a big hit because of them.
:10:25. > :10:28.But, the market has been growing at a rapid pace. Many publishing houses
:10:29. > :10:33.have set up offices here in the last few years. That is it for this
:10:34. > :10:44.edition of Asia Business Report. Thank you for watching.
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