Browse content similar to 21/05/2014. Check below for episodes and series from the same categories and more!
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travelled to Syria to join a terrorist training camp. Now on BBC | :00:00. | :00:00. | |
News all the latest business news live from Singapore. China and | :00:00. | :00:16. | |
Russia have yet to sign a $400 billion energy deal over a price | :00:17. | :00:20. | |
dispute. Japan posts a trade shortfall for a 22nd`straight month | :00:21. | :00:22. | |
due to its dependence on foreign gas. Thank you for watching Asia | :00:23. | :00:36. | |
Business Report. We are still waiting to hear if a huge deal will | :00:37. | :00:40. | |
be signed for Russia to begin supplying gas to China. Russia's | :00:41. | :00:42. | |
President, Vladimir Putin, is in Shanghai as part of his first trip | :00:43. | :00:46. | |
to the mainland since President Xi Jinping took office. Discussions | :00:47. | :00:54. | |
around the multibillion`dollar deal have been going on for a decade, but | :00:55. | :00:57. | |
pressure from the West over actions in Ukraine have meant that Russia is | :00:58. | :00:59. | |
keen to nurture a big new customer. China is already Russia's largest | :01:00. | :01:36. | |
single trading partner, with bilateral trade between the two | :01:37. | :01:38. | |
giants coming to $US90 billion last year. But the neighbours want to | :01:39. | :01:42. | |
double that to $200 billion by the end the decade. I spoke to a member | :01:43. | :01:45. | |
of the Energy Studies Institute, asking him whether he thinks China | :01:46. | :01:50. | |
will pay for the gas deal. It can afford the price, it is already | :01:51. | :01:52. | |
paying high prices from Turkmenistan, it is whether it is | :01:53. | :01:55. | |
willing to pay the price. What are the other alternatives for China if | :01:56. | :01:58. | |
they don't close this deal, which has been going on now for ten years? | :01:59. | :02:05. | |
It can boost other sources of gas. Gas from Central Asia, and imported | :02:06. | :02:07. | |
gas by ship as liquefied natural gas. At home, it is already building | :02:08. | :02:12. | |
lots of cold gas plants, and it is trying to develop shale gas. What | :02:13. | :02:15. | |
about for Russia? Are they desperate to sign this deal, and if the deal | :02:16. | :02:18. | |
is not signed, what implications will there be? I think politically | :02:19. | :02:21. | |
it is very important for Vladimir Putin to show to Europe that it has | :02:22. | :02:25. | |
other potential customers. But I think domestically it wants to | :02:26. | :02:27. | |
develop these fields in the East, these gas fields, and it wants to | :02:28. | :02:30. | |
Siberia. It wants this deal for Siberia. It wants this deal for | :02:31. | :03:39. | |
political and economic purposes. In other economic news, Japan's trade | :03:40. | :03:42. | |
deficit shrank to $8 billion in April, after lower consumer spending | :03:43. | :03:45. | |
and a reduced demand for imports. They rose by 3.4% from a year ago, | :03:46. | :03:48. | |
the least in 16 months. Exports showed a pickup, rising 5.1% from | :03:49. | :03:51. | |
earlier, compared to estimates for a 4.8% gain. Earlier I spoke to Japan | :03:52. | :03:55. | |
economist to get his take on the numbers. The overall trade balance | :03:56. | :03:58. | |
is more in the minus than expected, but for once, it is a good result, | :03:59. | :04:01. | |
because it shows that imports remain strong in Japan. They have been very | :04:02. | :04:04. | |
high, because people have been buying in March to fill up on | :04:05. | :04:08. | |
anything that gets more costly with a sales tax hike in April. Compared | :04:09. | :04:11. | |
to last year, overall imports are still at plus 3%, that is a very | :04:12. | :04:14. | |
strong result, and shows that demand in Japan remains high and the | :04:15. | :04:17. | |
economy is doing comparatively well. What are we likely to see from | :04:18. | :04:21. | |
demand numbers? What we see so far is that exports are increasing as | :04:22. | :04:24. | |
well. This has been one big concern, because demand in Japan has been | :04:25. | :04:27. | |
boosted unofficially over the last year, with monetary policy and | :04:28. | :04:29. | |
fiscal policy and the sales tax hike, but now we see that exporters | :04:30. | :04:32. | |
are pushing forward, going into overseas markets again, as demand is | :04:33. | :04:35. | |
lower in Japan, so the overall result is balanced and positive. For | :04:36. | :04:38. | |
Abenomics to be able to be successful in the | :04:39. | :04:40. | |
medium`to`longer`term, we have to see now the PM instituting | :04:41. | :04:43. | |
structural reforms to sustain this growth. That is now one point. We | :04:44. | :04:46. | |
will have an announcement from the Bank of Japan today, and many people | :04:47. | :04:49. | |
have been hoping it would be pushing further, rescuing the economy even | :04:50. | :04:51. | |
more, but there is no rescuing being needed so far. There might be very | :04:52. | :04:56. | |
little extra on that site, and for Abenomics we are hoping for | :04:57. | :04:58. | |
structural reform. Cutting corporate taxes, boosting sectors by | :04:59. | :05:00. | |
deregulation, and the government going into a more relaxed mode, | :05:01. | :05:03. | |
where discussions will come up with less than would be needed. That | :05:04. | :05:06. | |
would be a negative. In other business news, General Motors is | :05:07. | :05:08. | |
recalling another 2.6 million vehicles. This is because of | :05:09. | :05:11. | |
possible defects. It includes faulty seatbelts, transmissions, airbags | :05:12. | :05:13. | |
and fire issues. The US motor giant has recall 50 million cars in total | :05:14. | :05:17. | |
this year. That is expected to cost the firm $400 million. Pfizer is | :05:18. | :05:19. | |
still looking to take control of AstraZeneca, after the second | :05:20. | :05:22. | |
takeover bid was rejected. According to reports, Pfizer is vying to get | :05:23. | :05:25. | |
support for its $117 billion offer from AstraZeneca shareholders. The | :05:26. | :05:27. | |
offer was turned down on Tuesday, saying it was too low and did not | :05:28. | :05:31. | |
account for the value of future medicine. A deal between the two | :05:32. | :05:34. | |
companies would have created the world's biggest drugs group. For | :05:35. | :06:05. | |
more on that story, log on to our website. One in three South Asians | :06:06. | :06:08. | |
paid a bribe in 2012, making it one of the world's most corrupt regions. | :06:09. | :06:12. | |
The findings are from the anti`corruption group Transparency | :06:13. | :06:14. | |
International have found severe corruption in India. They are hoping | :06:15. | :06:17. | |
that the new government will lead the charge in dealing with this. | :06:18. | :06:21. | |
First of all, I believe that all of the government in Asia will need to | :06:22. | :06:24. | |
send a strong message that politics will be kept away from the public | :06:25. | :06:27. | |
sector and all the institutions. A clear message will need to be sent | :06:28. | :06:34. | |
out to all the stakeholders. In India particularly, a new act will | :06:35. | :06:37. | |
need to be implemented, and that is what the Indian people have been | :06:38. | :06:40. | |
looking for some time. It is time now to pull this together. Secondly, | :06:41. | :06:44. | |
there are a number of laws that are waiting to be passed in India, and | :06:45. | :06:49. | |
these need to be put in place as the very first priority. Those will be | :06:50. | :06:53. | |
some of the first few steps that need to be taken immediately, | :06:54. | :06:56. | |
especially into the new Narendra Modi government, where people are | :06:57. | :07:02. | |
looking forward to seeing changes. Asian nations are increasingly | :07:03. | :07:05. | |
looking to Australia to help feed the growing populations. Beef and | :07:06. | :07:08. | |
fresh vegetables make up much of the demand even though Australia is | :07:09. | :07:10. | |
relying on growth in the agricultural sector to help secure | :07:11. | :07:14. | |
its economic future. One product reflecting the increased demand is | :07:15. | :07:17. | |
the export of live goats and goat meat. Phil Mercer has more from | :07:18. | :07:25. | |
Cobar in New South Wales. In Australia's rugged outback, roam | :07:26. | :07:32. | |
vast numbers of wild goats. Feral herds have become part of a | :07:33. | :07:36. | |
lucrative and growing industry. Australia is the world's largest | :07:37. | :07:38. | |
exporter of goat meat, and suppliers believe the industry is about to | :07:39. | :08:18. | |
experience a boom. I can see it doubling. It has just got that | :08:19. | :08:21. | |
potential to keep growing, with the amount of feral goats. They say the | :08:22. | :08:28. | |
anywhere between one million and two anywhere between one million and two | :08:29. | :08:31. | |
million. A huge number of goats can be supplied. 100,000 goats are | :08:32. | :08:34. | |
processed at this depot in Cobar in New South Wales, caught usually by | :08:35. | :08:38. | |
farmers who consider them to be a pest. It is either sold to domestic | :08:39. | :08:41. | |
consumers here in Australia or to a growing international market. There | :08:42. | :08:44. | |
is also a thriving trade in farm animals. These meaty specimens on a | :08:45. | :08:47. | |
property near the town of Orange are a robust variety brought to | :08:48. | :08:50. | |
Australia from South Africa in the 1980s. They are part of a growing | :08:51. | :08:53. | |
business, sending live exports to Asia. We mainly sell to Malaysia and | :08:54. | :08:56. | |
Thailand, but our goats mainly go for breeding, so the people who come | :08:57. | :09:00. | |
here to look at my animals are looking for a good`quality stud | :09:01. | :09:03. | |
animal that will fit into what their breeding programme is. Other popular | :09:04. | :09:05. | |
markets include Singapore and Brunei. It is a multimillion`dollar | :09:06. | :09:08. | |
trade in meat that has risen sharply in recent years. Australian goat | :09:09. | :09:11. | |
exports have doubled in the past decade. While much is sold to the | :09:12. | :09:14. | |
US, there is a growing appetite in Asia. We have seen recent export | :09:15. | :09:25. | |
orders coming from such countries, Malaysia, China, Maria, the | :09:26. | :09:27. | |
Philippines, and prices have lifted up phenomenally. It seems to be | :09:28. | :09:37. | |
getting bigger and bigger each week, each month and each year. The | :09:38. | :10:13. | |
industry has had its problems, with inconsistent supply and quality. But | :10:14. | :10:16. | |
both suppliers here insist that their animals are among the best in | :10:17. | :10:19. | |
the world, and are boosting not only the Australian economy, but are | :10:20. | :10:22. | |
helping to feed and ever hungrier Asia. Before we go, don't forget to | :10:23. | :10:38. | |
follow us on Twitter. Thank you for joining us. The top stories this | :10:39. | :10:42. | |
hour: At least 118 people have died after two explosions in the Nigerian | :10:43. | :10:46. | |
city of Jos hit a market and hospital. It is thought more bodies | :10:47. | :10:49. | |
could be buried beneath the rubble. Thailand has woken up to its second | :10:50. | :10:52. | |
day under martial law, the country's caretaker | :10:53. | :10:53. |