Browse content similar to 18/06/2014. Check below for episodes and series from the same categories and more!
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was for elected heads of state ` and not the European Parliament ` to | :00:00. | :00:00. | |
decide who should get the job. Now on BBC News all the latest business | :00:00. | :00:00. | |
news live from Singapore. Japan takes steps towards legalising | :00:00. | :00:19. | |
casino gambling. Could it be a pillar of future economic growth? | :00:20. | :00:25. | |
China and the UK to sign more than $34 billion worth of deals in a sign | :00:26. | :00:33. | |
of warming ties. Thanks for joining us on Asia Business Report. I'm Rico | :00:34. | :00:40. | |
Hizon. There were long`awaited talks on a bill to lift a ban on casino | :00:41. | :00:44. | |
game in Japan. Japan had the potential to make `` become one of | :00:45. | :00:49. | |
the biggest gambling market in the world and the Prime Minister says it | :00:50. | :00:53. | |
will be a highlight of his growth strategy. The second largest economy | :00:54. | :00:57. | |
in Asia may need that boost, figures released today show Japan lobbed it | :00:58. | :01:04. | |
23rd straight trade deficit in May after exporter fell by more than | :01:05. | :01:12. | |
expected. I spoke to Catherine Yong on whether a bet on gambling would | :01:13. | :01:17. | |
pay for Japan. If you look at gaming and casino operations in Macau and | :01:18. | :01:21. | |
the Philippines, they are doing well. It will increase the amount of | :01:22. | :01:27. | |
tourist in Japan to 20 million. And the target is for the Olympics in | :01:28. | :01:37. | |
Tokyo. Does it have the support? We are in the early stages so it is too | :01:38. | :01:41. | |
early to call. Shinzo Abe is adamant and when you look at him, he has a | :01:42. | :01:45. | |
lot of good ability and is therefore a long`term. When he says things, | :01:46. | :01:50. | |
they do tend to work towards the aim. Hopefully it is not just | :01:51. | :01:53. | |
rhetoric because everyone is now expecting what will happen in this | :01:54. | :02:00. | |
growth strategy and particularly, the corporate tax which is one of | :02:01. | :02:04. | |
the highest in the world. You think this will be produced? Likely to be | :02:05. | :02:07. | |
reduced by about 2% this year with the aim of ultimately around 20 to | :02:08. | :02:13. | |
30%. A bit like attracting tourists, they also want to attract | :02:14. | :02:18. | |
corporations. Legalising gambling, reducing corporate tax, Labour | :02:19. | :02:23. | |
market stability, progressing with the transpacific partnership. If | :02:24. | :02:26. | |
this all comes to fruition, held at growth will this add to the Japanese | :02:27. | :02:30. | |
equity? We are not going to seek huge numbers that we have seen out | :02:31. | :02:34. | |
of India or China. When you look at Abenomics, is a steady, slow pace | :02:35. | :02:39. | |
but at least it is a pace. From an investment perspective, we are | :02:40. | :02:44. | |
finding corporate reforms are very interesting. The past two decades, | :02:45. | :02:49. | |
the Governor has lent corporations. There is now a focus on big | :02:50. | :02:53. | |
shareholder friendly and increasing profitability. What if he does not | :02:54. | :02:58. | |
push through with these reforms? What will happen with the Japanese | :02:59. | :03:02. | |
economy? It will go back to where we were seeing it a couple of decades | :03:03. | :03:07. | |
ago. That is important in terms of the overall Abenomics. You have | :03:08. | :03:11. | |
various aspects whether it is immigration or corporate reforms. | :03:12. | :03:15. | |
There is a change in mindset for Japanese and that could be a risk | :03:16. | :03:20. | |
but their stars are aligned. Given the risks and rewards, what are you | :03:21. | :03:25. | |
telling investors right now about the economy? When you look from a | :03:26. | :03:29. | |
stock respective, corporate reform is important. The market is down | :03:30. | :03:36. | |
today. From the valuations perspective, the market is looking | :03:37. | :03:40. | |
attractive. It is on a stock by stock bases. The Chinese Premier is | :03:41. | :03:49. | |
in the UK for his first official visit and more than $24 billion | :03:50. | :03:52. | |
worth of deals have a load. The two sides have been looking to mend | :03:53. | :03:56. | |
economic and diplomatic relations following a row over Tibet. Our | :03:57. | :04:07. | |
China editor has the details. The Chinese Prime Minister claimed the | :04:08. | :04:09. | |
London sunshine was a good omen for UK`China relations. Even politicians | :04:10. | :04:12. | |
from a one`party state like photo opportunities. The Premier of the | :04:13. | :04:15. | |
People's Republic of China, Your Majesty. This is a privilege more | :04:16. | :04:18. | |
usually granted to presidents, but what the Chinese want, they | :04:19. | :04:23. | |
increasingly get. In return, ?14 billion worth of deals for the UK. | :04:24. | :04:31. | |
It's no longer an option not to do business with China. The question | :04:32. | :04:33. | |
for David Cameron is who benefits and whether he has to compromise | :04:34. | :04:37. | |
other values in a world where China can use its economic strength to | :04:38. | :04:38. | |
push other issues. A nation of 63 million meets one 20 | :04:39. | :04:49. | |
times as big. The British outnumbered around their own Cabinet | :04:50. | :04:56. | |
table. The key moment in the day ` the deal. Signing ceremonies, | :04:57. | :04:58. | |
including nuclear co`operation, banking and liquid gas. | :04:59. | :05:05. | |
Good afternoon and welcome. Then an unfamiliar encounter with | :05:06. | :05:10. | |
the free press. I asked whether China had anything | :05:11. | :05:14. | |
to learn from the UK on human rights. TRANSLATION: The Chinese are | :05:15. | :05:21. | |
continuously pushing forward on human rights in close dialogue with | :05:22. | :05:24. | |
the UK and other countries. In many ways, we can learn a lot from each | :05:25. | :05:28. | |
other, even as we follow our own paths. There was a small | :05:29. | :05:30. | |
intervention about the Scottish referendum. | :05:31. | :05:35. | |
TRANSLATION: We want to see a strong, prosperous and united United | :05:36. | :05:42. | |
Kingdom. From the other side of the street, the message was disunity, | :05:43. | :05:45. | |
aimed at the Chinese Prime Minister and his British host. But David | :05:46. | :05:50. | |
Cameron's view is that the rise of China is a defining event of the | :05:51. | :05:53. | |
century and he assured his visitors that the UK supports it. | :05:54. | :06:05. | |
In other business News making headlines, Oracle is reportedly | :06:06. | :06:12. | |
nearing a deal to buy their smaller rival for more than $5 billion. The | :06:13. | :06:16. | |
company sells software and services for hotels, restaurant and | :06:17. | :06:20. | |
retailers, sought by as much as 22% in US trading. The maker of photo | :06:21. | :06:25. | |
shop and Acrobat software posted better than expected numbers because | :06:26. | :06:32. | |
of higher sales. Adobe's second quarter profit load `` rose. Its | :06:33. | :06:44. | |
shares gaining nearly 9%. Citigroup has paid a record number for a Hong | :06:45. | :06:49. | |
Kong power. The largest property transaction in the Chinese | :06:50. | :06:53. | |
territory. It is scheduled to be completed next year and will bring | :06:54. | :06:57. | |
most of their employees under one roof. A British Guiana 1 cent | :06:58. | :07:05. | |
postage stamp sold for a record 9/2 million dollars at auction. The | :07:06. | :07:11. | |
stamp is the only one of its kind to exist and is the most expensive | :07:12. | :07:15. | |
stamp ever sold. Measuring one inch by one and a quarter inch, option | :07:16. | :07:20. | |
house, Sotheby's said it is the world most valuable object by weight | :07:21. | :07:27. | |
and size. The football World Cup in Brazil is a bonanza for many | :07:28. | :07:29. | |
businesses around the world. In Bangladesh, leading makers have won | :07:30. | :07:36. | |
at least $500 million in export orders to produce World Cup | :07:37. | :07:41. | |
T`shirts, caps and flags for fans worldwide. The new orders came at a | :07:42. | :07:45. | |
time when the industry is in crisis after a string of disasters. | :07:46. | :07:54. | |
It might be a long way from Ozil but there is no escaping the World Cup | :07:55. | :08:00. | |
here. The merchandise is everywhere. This is big business. Bangladeshi | :08:01. | :08:08. | |
manufacturers received orders worth more than $500 million. From | :08:09. | :08:10. | |
sportswear giants like Adidas and Puma. We export millions of pieces | :08:11. | :08:19. | |
which can translate to $2.5 million equivalent. If you look at the | :08:20. | :08:26. | |
intercountry export, not only the T`shirts but other merchandise like | :08:27. | :08:36. | |
flags, caps and other stuff. The World Cup merchandise is made mostly | :08:37. | :08:39. | |
in China and tangled ash. The two major players in the global clothing | :08:40. | :08:45. | |
industry. `` Bangladesh. They are not just exporting World Cup | :08:46. | :08:50. | |
merchandise, they are also catering to the domestic market. There is | :08:51. | :08:55. | |
World Cup fever here as you can see, the shops are selling T`shirts, | :08:56. | :08:59. | |
flags and and different product relating to the World Cup. The | :09:00. | :09:04. | |
Bangladeshi clothing industry has been under scrutiny following a | :09:05. | :09:08. | |
series of disasters. The World Cup orders came as a big boost. | :09:09. | :09:14. | |
Following the accident, Western retailers have set up teams to | :09:15. | :09:19. | |
inspect safety standards in factories across Bangladesh. Several | :09:20. | :09:22. | |
factories which were not compliant have been shut down. Western brands | :09:23. | :09:28. | |
have already warned that they will look elsewhere if the safety | :09:29. | :09:32. | |
standards are not improved. I do not think we should take our buyers are | :09:33. | :09:37. | |
granted. There is a project in Myanmar that the UN has invested | :09:38. | :09:41. | |
in, it is investing in building their capacity. There are newer | :09:42. | :09:45. | |
market like Ethiopia opening up. There is a population in India where | :09:46. | :09:50. | |
they are going to get more business from last. For the moment, the | :09:51. | :09:56. | |
exporter keep growing. They are expected to reach a record $25 | :09:57. | :10:02. | |
billion in this fiscal year. That is more than 80% of the country 's | :10:03. | :10:08. | |
annual export. The industry has the potential to change the lives of | :10:09. | :10:11. | |
millions of people. If the manufacturers can strike a balance | :10:12. | :10:15. | |
between low`cost deduction based and safety standards. | :10:16. | :10:25. | |
For more news, please visit our website. Thank you so much for | :10:26. | :10:31. | |
interesting your time with us. Sport Today is up next. | :10:32. | :10:38. | |
I'm Mike Embley. The top stories this | :10:39. | :10:39. |