Browse content similar to 17/06/2014. Check below for episodes and series from the same categories and more!
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Wales. The government said it is spending more than ever on flood | :00:00. | :00:00. | |
management. Now on BBC News all the latest business news live from | :00:00. | :00:21. | |
Singapore. Nine`month highs amid current sermons of conflict in Iraq. | :00:22. | :00:27. | |
Thousands of Cambodians are fleeing Thailand as authorities cracked down | :00:28. | :00:32. | |
on illegal workers. Thank you for joining us on Asia Business Report. | :00:33. | :00:39. | |
US could be deploying up to 275 US military personnel to Iraq amid | :00:40. | :00:41. | |
concerns that the conflict is escalating. The government has been | :00:42. | :00:48. | |
battling Islamic militants and there are fears that the country is | :00:49. | :00:51. | |
inching towards civil war. Iraq is the second largest oil producer in | :00:52. | :00:59. | |
the OPEC member countries. There are concerns that the violence in Iraq | :01:00. | :01:05. | |
could spark a broader regional conflict pushing oil to its highest | :01:06. | :01:12. | |
price since September. Here are the figures currently. Earlier I spoke | :01:13. | :01:21. | |
with a resource analyst from a research firm and asked if we could | :01:22. | :01:25. | |
expect more price volatility in the days ahead. When you have a look at | :01:26. | :01:29. | |
the production profile of Iraq, the main producing fields are in the | :01:30. | :01:34. | |
south of the country near the Persian Gulf and the key exporting | :01:35. | :01:39. | |
facilities are also down in that region as well. At this point, the | :01:40. | :01:44. | |
fighting has been confined to the north and the amount of oil that has | :01:45. | :01:47. | |
come out of the northern part of Iraq over the last three months has | :01:48. | :01:52. | |
been zero. We would have expected to see a price rise once Mosul fell and | :01:53. | :01:59. | |
we did see that happen but it has been rather constrained because of | :02:00. | :02:03. | |
those very reasons of supply location. At what point do you think | :02:04. | :02:11. | |
prices will rise beyond current levels? There is no doubt that if we | :02:12. | :02:15. | |
see fighting start to move down beyond and into the South, we would | :02:16. | :02:25. | |
see again a spike in oil prices as certainly production from the south | :02:26. | :02:28. | |
of the country comes under threat. The world can cope with that quite | :02:29. | :02:35. | |
comfortably as Iraq currently exports to .5 million barrels per | :02:36. | :02:50. | |
2.5 million per day. Logistics have got very used to the supply coming | :02:51. | :03:02. | |
or going. How is Russia's volatility affecting crude oil prices? The | :03:03. | :03:06. | |
market is happening in the Middle East. There | :03:07. | :03:16. | |
will be some movement in gas prices but probably not across the world | :03:17. | :03:20. | |
but there may be some impact in Europe and that is because gas pipes | :03:21. | :03:26. | |
run through the Ukraine and so they may cut gas supplies to the Ukraine | :03:27. | :03:34. | |
the but perhaps also across Europe. Staying with the commodities based, | :03:35. | :03:47. | |
Shell is selling shares with some being sold to institutional | :03:48. | :03:48. | |
its stake in Woodside. More than 100,000 Cambodians have crossed the | :03:49. | :04:04. | |
border and returned home in recent days although the government has | :04:05. | :04:07. | |
denied that they are forcibly repatriating them due to concerns of | :04:08. | :04:15. | |
foreign workers. I spoke to a correspondent who works in this area | :04:16. | :04:18. | |
and asked which sectors would most be affected. Many of them work on | :04:19. | :04:26. | |
construction sites and agriculture and fishing and those are going to | :04:27. | :04:29. | |
be the main sectors hit a departure. What we have seen the | :04:30. | :04:34. | |
economy in Thailand contracting in the previous quarter, `2.1%, | :04:35. | :04:43. | |
the exodus of these migrant workers, could this impact | :04:44. | :04:51. | |
`` these industries severely and would it impact the economy? I think | :04:52. | :04:58. | |
we will see an impact although hopefully, it will be a limited one. | :04:59. | :05:01. | |
As you said, the exodus has been confined to Cambodian nationals at | :05:02. | :05:10. | |
the moment but if it's spread to the many more neon mar `` Myanmar | :05:11. | :05:20. | |
nationals, then it will have a severe impact on the economy. What | :05:21. | :05:27. | |
with the job situation be like in Thailand at the moment? It is an | :05:28. | :05:33. | |
interesting mix of factors. It seems to be a case of mass hysteria which | :05:34. | :05:43. | |
is possibly... It may be from the good intentions of the government | :05:44. | :05:48. | |
trying to address issues of human trafficking but rumours has spread | :05:49. | :05:52. | |
that this may be a military crackdown against illegal migrants | :05:53. | :05:55. | |
and they have tried to preempt that I leaving the country `` by. It is | :05:56. | :06:03. | |
hardly surprising given the information vacuum in Thailand at | :06:04. | :06:06. | |
the moment that has been imposed by the junta. GM is recalling more than | :06:07. | :06:13. | |
3 million additional cars you to faulty ignition switches. The US | :06:14. | :06:17. | |
auto giant is also increasing the money it has set aside to cover the | :06:18. | :06:26. | |
costs in the second quarter. GM has recalled about 20 million vehicles | :06:27. | :06:30. | |
overall this year, roughly double its annual sales. The international | :06:31. | :06:35. | |
monetary fund has cut its growth forecast for this year and expects | :06:36. | :06:40. | |
the world's largest to grow to buy just 2% from its initial forecast of | :06:41. | :06:48. | |
8%. It expects that America will not achieve full employment until the | :06:49. | :06:53. | |
end of 2017 which will give the government scope to keep interest | :06:54. | :07:01. | |
levels at low levels for a longer period. The South American nation is | :07:02. | :07:08. | |
being ordered to pay back millions of dollars to creditors despite its | :07:09. | :07:16. | |
weak finances. This is in Argentina. Stocks have fallen from this latest | :07:17. | :07:23. | |
development. Greenpeace has lost more than $5 million due to a bad | :07:24. | :07:30. | |
that in the currency market `` a bad bet. It was a wager that the euro | :07:31. | :07:35. | |
would not strengthen against other currencies in 2013. Greenpeace | :07:36. | :07:40. | |
apologised and said that the employee who wagered Bale made to | :07:41. | :07:48. | |
make `` who made the wager has been fired. We're going to a plant in | :07:49. | :08:03. | |
Malaysia where PineWood has been set up. It is on an 80 acre site that is | :08:04. | :08:08. | |
roughly the size of 60 football pitches. You cannot see it but it is | :08:09. | :08:17. | |
all happening down behind me where a television series is being filmed. | :08:18. | :08:21. | |
We cannot show you the filming as it is all in lockdown but I am here at | :08:22. | :08:25. | |
a soundstage where filming is carried out. Why filmed here in | :08:26. | :08:38. | |
Malaysia? Were going to talk to a producer from Marco Polo | :08:39. | :08:44. | |
Productions. This 30% rebate is saving us millions of dollars. By | :08:45. | :08:52. | |
slashing the cost of filmmaking, is Malaysia pricing out other film | :08:53. | :08:56. | |
studios? Yes it is starting to. It is cost prohibitive. There are | :08:57. | :09:02. | |
certainly savings to be made that there must be challenges in filming | :09:03. | :09:10. | |
in a place like this. You have to fly everyone in and house them and | :09:11. | :09:13. | |
feed them and give them things to do on a weekend. If the Malaysian tax | :09:14. | :09:19. | |
incentive pays off for Malaysia, he will have an industry but that will | :09:20. | :09:23. | |
take five or ten years before the skill level comes up and people can | :09:24. | :09:29. | |
be trusted in key positions. Team to develop its local film industry, the | :09:30. | :09:32. | |
Malaysian government joined forces with PineWood to set up this $173 | :09:33. | :09:39. | |
million facility. It means new jobs and businesses have been created but | :09:40. | :09:49. | |
what is in it for the studio? If all of the economic forecasts are | :09:50. | :09:56. | |
predicting roughly a doubling in the form of filmed entertainment in the | :09:57. | :10:00. | |
next ten years, the studios will be part of a suite of studios around | :10:01. | :10:07. | |
the world to service that command. In fact, millions of dollars are | :10:08. | :10:11. | |
being spent here and big money is being made whether it is stage crew, | :10:12. | :10:18. | |
set designers or catering companies, hundreds of new jobs are being | :10:19. | :10:22. | |
created. The opportunities are immense and time will tell whether | :10:23. | :10:25. | |
the studios will become global players in the film industry. Thank | :10:26. | :10:39. | |
you for joining us. Sport Today is up next. The main news stories. | :10:40. | :10:50. | |
Islamist extremists have made gains in Iraq. The US says it is deploying | :10:51. | :10:55. | |
military personnel to Baghdad to protect American | :10:56. | :10:56. |