:00:00. > :00:16.Now on BBC News, all the latest business news live from Singapore.
:00:17. > :00:22.Indonesia's Finance Minister tells the BBC their economy needs to
:00:23. > :00:28.attract more foreign investors. Carving a future. A Japanese
:00:29. > :00:40.craftsmen finds new ways to keep his family business alive. `` craftsman.
:00:41. > :00:44.Welcome to the programme. Some investors have become wary of
:00:45. > :00:50.Indonesia after it. One of the world's gradual five economies. The
:00:51. > :00:56.economy is one of the key issues for Indonesians who will vote in a
:00:57. > :01:23.general election in around a week. Gross has become a top priority the
:01:24. > :01:28.government there. `` growth. Indonesia has become a middle income
:01:29. > :01:31.country in the past decade. It is a notable achievement, but recently
:01:32. > :01:45.growth has begun to slow. Will they begin to go into a virtuous circle
:01:46. > :01:48.or will it be a vicious cycle? The country went into a virtuous circle
:01:49. > :01:52.when prices skyrocketed ten years ago. Foreign money brought funds
:01:53. > :01:55.that boosted growth. That meant there was more money for investment.
:01:56. > :02:12.Indonesia was in a virtuous circle of growth and investment. Will the
:02:13. > :02:14.end of the commodity boom mean that Indonesia could fall into a vicious
:02:15. > :02:24.circle, where lower investment leads to slower growth and less income?
:02:25. > :02:27.But if the country could attract investment into new areas, like
:02:28. > :02:30.consumer goods to service its large population, that could launch
:02:31. > :02:38.Indonesia into a new cycle of growth and prosperity. While in Jakarta,
:02:39. > :02:50.our correspondent also caught up with the Foreign Minister of
:02:51. > :02:58.Indonesia. I don't think this country can grow by 7% without
:02:59. > :03:05.foreign investment. The only way to make sure this country grows by 7%
:03:06. > :03:11.is by opening to foreign capital and foreign investment. The question is
:03:12. > :03:22.why we have to grow by 7%. That is the only way we can create jobs and
:03:23. > :03:29.reduce poverty. There is frustration over corruption and the amount of
:03:30. > :03:34.money being spent. I think that it is important to look at the
:03:35. > :03:42.situation of the previous government. Let me ask you a
:03:43. > :03:49.question. Do you think that the corruption under that government was
:03:50. > :03:52.eradicated? No? Of course not. But how did the country grow? How were
:03:53. > :04:01.they able to build and infrastructure? It is not about
:04:02. > :04:07.corruption but certainty. In the past, we were dealing with one
:04:08. > :04:14.single family and everything was settled from the top to the bottom.
:04:15. > :04:19.But in this democratic setting, there is fragmentation at the top.
:04:20. > :04:24.That means we have to talk from central government to local
:04:25. > :04:32.government, so there is more uncertainty. There is something
:04:33. > :04:42.worse than organised corruption and it is unorganised corruption. What
:04:43. > :04:46.about the resources boom? If Indonesia continues with this
:04:47. > :04:56.trend, 60% of our exports will collapse. In other business news, a
:04:57. > :05:03.Japanese drugs giant is expected to face charges for data manipulation.
:05:04. > :05:14.The companies alleged to have provided false data to retailers to
:05:15. > :05:21.push its products. Google has bought a free online music streaming
:05:22. > :05:26.service. The application creates playlists based on the move of its
:05:27. > :05:36.users. Reports value the deal at around $15 million. Australia logged
:05:37. > :05:44.a $2 million trade deficit this quarter because of a slow in trade
:05:45. > :05:53.to China. The Australian dollar is now worth more than 94 cents in
:05:54. > :06:05.American currency. Some say it may regain parity or exceed the value of
:06:06. > :06:09.the US dollar later this year. There is still a bit of drag on the
:06:10. > :06:14.domestic economy. The Reserve Bank yesterday made the case that the
:06:15. > :06:19.economy was still a bit weaker than expected. For the Australian dollar,
:06:20. > :06:25.we think the most important factor is the US dollar, and strength in
:06:26. > :06:33.the US dollar is something we are looking for in the next few years.
:06:34. > :06:40.We see the Australian dollar in the immediate term as in the mid` 80s as
:06:41. > :06:47.opposed to parity. Throughout history, businesses have been handed
:06:48. > :06:51.down through the generations, sometimes staying in the same family
:06:52. > :06:56.for hundreds of years. But how do traditional crafts survive? We went
:06:57. > :07:08.to meet the last of a long line of craftsmen in Japan. Have a guess
:07:09. > :07:16.what he is making. Whatever you have guessed, I'm pretty sure it is
:07:17. > :07:23.wrong. These strips of wood and blue will eventually become part of a
:07:24. > :07:28.bicycle. `` wood and glue. That is right, a wooden bicycle. For over
:07:29. > :07:32.200 years, his family have been master boatbuilders. In a nearby
:07:33. > :07:39.dock, he still has the first one he ever made. He started building her
:07:40. > :07:47.when he was just 13. It took him five years. How on earth did he get
:07:48. > :08:04.from here to making bicycles? I can make a bicycle wheel the same way.
:08:05. > :08:08.Some European people have been asking for a wheel that is exactly
:08:09. > :08:20.round. Seven years ago, he built this, a racing bike made entirely of
:08:21. > :08:28.mahogany. It is a rather strange feeling to be riding and $80,000
:08:29. > :08:34.mahogany bicycle. You would not think it, this being wood, but it is
:08:35. > :08:40.astonishingly light, just seven kilograms, which is the same as a
:08:41. > :08:44.carbon bikes. He only made his first bicycle to the show off his
:08:45. > :08:51.woodworking skills, but then he took it to a European bike show. I was so
:08:52. > :09:02.surprised how many people tried to ride. They asked me to make it. On
:09:03. > :09:12.the first day, I received three orders. I was very surprised. The
:09:13. > :09:21.price was very high but the client said, yes, the price is high, but
:09:22. > :09:30.the quality is very high. They had never seen such a high`performance
:09:31. > :09:38.wooden bike. This man is a craftsmen who takes immense pride in his work.
:09:39. > :09:41.`` a craftsman. He will make only three bikes this year. If you order
:09:42. > :09:47.one now, you would have to wait until 2018 to get it. But his
:09:48. > :09:50.daughters do not want to do this. When he retires, all of his
:09:51. > :09:58.knowledge and skills could be lost forever.
:09:59. > :10:04.Before we go, here is a story for those who like to invest in a good
:10:05. > :10:14.night's sleep. One artist has sold her unmade bed complete with empty
:10:15. > :10:21.vodka bottles and cigarette ash trays for millions of dollars. My
:10:22. > :10:26.bed certainly doesn't look like that and it does not cost that much
:10:27. > :10:33.either. Thank you for joining us. Don't forget, you can follow us on
:10:34. > :10:42.Twitter. All of the sport is coming up next with the latest in the World
:10:43. > :10:47.Cup. This is BBC News. The headlines: Former French president,
:10:48. > :10:50.Nicolas Sarkozy, has appeared in court. He is under investigation
:10:51. > :10:54.over claims his election campaign was funded illegally.
:10:55. > :10:57.Israel has held funerals for the three teenagers abducted and
:10:58. > :11:00.murdered in the West Bank. Prime Minister Benjamin Netanyahu called
:11:01. > :11:02.their killers heinous murderers. Fly`tipping has been illegal for
:11:03. > :11:03.years but now courts