:00:00. > :00:00.identified the location of shale bearing rock. Time for the latest
:00:00. > :00:21.business news live from Singapore. Asian stocks rise after a strong
:00:22. > :00:27.jobs report spurs a record rally on Wall Street. And, from living room
:00:28. > :00:29.to boardroom, research is claimed playing videogames can help improve
:00:30. > :00:43.your business skills. Welcome to this Friday edition of
:00:44. > :00:45.Asia Business Report. We are seeing positive gains in Asian stock
:00:46. > :00:52.markets this morning, following encouraging news from the US jobs
:00:53. > :00:59.market. Japan, Korea, Australia, they are all flat to higher after
:01:00. > :01:05.the US reports that its unemployment rate fell to a six`year low of 6.1%.
:01:06. > :01:08.It spurred US stocks to new highs, with the Dow Jones industrial
:01:09. > :01:12.average breaking through the key 17,000 point level for the first
:01:13. > :01:22.time ever. But if the rally sustainable? Our reporter was in New
:01:23. > :01:29.York. Not everyone expected this kind of a
:01:30. > :01:31.jump. Most estimates were around 200,000 jobs added to the economy,
:01:32. > :01:36.and many didn't think the unemployment rate would change much.
:01:37. > :01:43.This comes as really good news, and we have been looking for the Dow
:01:44. > :01:47.Jones to go up about 17,000 for a couple of days, but it was the very
:01:48. > :01:52.positive jobs report that pushed it up into that territory. Despite what
:01:53. > :01:57.we are seeing in the economy, a lot of jobs have been created. A lot of
:01:58. > :02:00.the jobs that are being created are in fact part`time jobs, and there is
:02:01. > :02:03.still the problem of what Janet Yellen, the chairperson of the
:02:04. > :02:10.Federal Reserve, called the shadow unemployment. That is people who
:02:11. > :02:14.aren't looking for work at all. They have dropped out of even searching
:02:15. > :02:17.for a job, and that is a particular problem here in the US. Although we
:02:18. > :02:23.are seeing a lot more people that are being employed, we are not
:02:24. > :02:27.getting the kinds of jobs that they want.
:02:28. > :02:32.Earlier, I asked an economist, Tony Nash, for his take on the data. I
:02:33. > :02:36.think it is more of a cause for relief than celebration. It is very
:02:37. > :02:41.good news, and hopefully the start of a good trend in the US economy.
:02:42. > :02:45.It is a cause for relief, but we know that the first`quarter GDP
:02:46. > :02:50.contracted 3%, so there is a real concern, particularly here in Asia,
:02:51. > :02:56.with a lot of investors watching the US and manufacture is counting on US
:02:57. > :02:59.markets, so to what extent does the US continue to influence what
:03:00. > :03:07.happens here? It still does in a big way. Exports from Asia still go to
:03:08. > :03:14.the US as a large share of the export market. Many companies
:03:15. > :03:18.contribute a lot in terms of direct investment, and things for the large
:03:19. > :03:24.economies in Asia. There is a huge overlap between the benefits for
:03:25. > :03:31.those countries. Unfortunately, but what we are seeing is the rate of
:03:32. > :03:35.growth in countries like China to the US declining, while it grows
:03:36. > :03:41.almost 10% in the other direction. It was something like 14% last year,
:03:42. > :03:45.it is 6% this year. Those rates of growth of exports from Japan, China
:03:46. > :03:50.and other places are slowing this year. Tony Nash from Delta
:03:51. > :03:53.economics. In other business news, China and South Korea's presidents
:03:54. > :03:58.have agreed to sign a free`trade deal by the end of year. They also
:03:59. > :04:01.plan to allow direct trading of their currencies in order to deepen
:04:02. > :04:06.economic ties. The announcement came during a trip by the Chinese leader,
:04:07. > :04:25.Xi Jinping, to South Korea, which ends today. Of course electronics
:04:26. > :04:31.may stop producing LCD TVs in Europe `` Aquos. Sharp is expecting to
:04:32. > :04:35.focus on Asian and American markets. They recently posted their annual
:04:36. > :04:43.first profit in three years. Samsung says it is going to stop making
:04:44. > :04:47.plasma TVs. Panasonic, Hitachi, Sony and others have already given up on
:04:48. > :04:51.them, which are bigger than LCD screens and use more electricity.
:04:52. > :04:58.Samsung says it will concentrate on making curved and ultra`
:04:59. > :05:01.high`definition TVs. Next week, air India joined a coalition of more
:05:02. > :05:08.than two dozen carriers around the world, Star Alliance. It is a big
:05:09. > :05:14.move, given it was previously turned down for not being scratch. It
:05:15. > :05:25.continues to deal with huge debts and a history of labour unrest. It
:05:26. > :05:28.also faces a rising number of competitive rivals. The importance
:05:29. > :05:31.of the national carrier is that it provides connectivity that others
:05:32. > :05:35.don't. Look at the biggest airline of this country, they provide
:05:36. > :05:41.connectivity to about 30 destinations in the country. Air
:05:42. > :05:45.India provides connectivity to 63 places in the country. If there was
:05:46. > :05:49.no national character, who would connect these places? You are the
:05:50. > :05:55.only country where the government has pumped in so much money to value
:05:56. > :05:58.out. Critics have asked the question repeatedly that you have got a lot
:05:59. > :06:06.of taxpayer money, and why should air India be entitled to that? What
:06:07. > :06:12.is your reaction? All owners of companies pump in money, somebody's
:06:13. > :06:15.money has to go into a company for it to run successfully. In this
:06:16. > :06:20.case, it is government money that is being pumped in, after all the
:06:21. > :06:25.transport companies. Whether it is a bit state transport companies, look
:06:26. > :06:29.at the power companies which are run by the government. It is taxpayer
:06:30. > :06:34.money ultimately that goes into it. Too much is made of this in the case
:06:35. > :06:42.of air India. What is your turnaround plan for air India? Had
:06:43. > :06:46.you plan to restructure the company? Costs are the most important thing.
:06:47. > :06:50.If the company does not cut costs we cannot keep going infinitely. We
:06:51. > :06:55.have been trying to do that, and we have made substantial savings as far
:06:56. > :06:59.as employee costs are concerned. Our productivity has gone up 29% in the
:07:00. > :07:02.last three years. The second important thing is the induction of
:07:03. > :07:08.the 787, which will cut down on fuel bills. That should make a difference
:07:09. > :07:14.to our economics. The third important thing is basically that we
:07:15. > :07:18.can see that a network is rational. You can catch more of that interview
:07:19. > :07:23.with the managing director of air India this weekend. For those of you
:07:24. > :07:27.out there who love plain computer games, you will are probably sick
:07:28. > :07:32.and tired of people telling you you are wasting your time. Researchers
:07:33. > :07:35.in Singapore have found that some games could help you develop the
:07:36. > :07:41.skills you need for a successful career.
:07:42. > :07:46.Problem`solving, planning and decision`making, these are highly
:07:47. > :07:51.sought`after skills in any boardroom. You can learn these by
:07:52. > :07:57.going to business school or climbing away up the ladder. But a new study
:07:58. > :07:58.done here at the technological University suggests playing
:07:59. > :08:04.videogames can develop these skills as well. With the now as Michael
:08:05. > :08:10.Pattison, the senior author of the study. You have highlighted this
:08:11. > :08:17.game. How does this develop your mental abilities? Unlike most games,
:08:18. > :08:22.in this game, before you start you need to plan what you are doing
:08:23. > :08:25.next. Most games, give fire when you see an enemy, but in this game I
:08:26. > :08:29.have to plan, OK, what is the sequence I can do in order to get
:08:30. > :08:33.the candy into the creature's now. In the business world we often have
:08:34. > :08:39.a steel where we plan what we will say next. The situation may change,
:08:40. > :08:45.we need to be more reactive to situations. This is a game in which
:08:46. > :08:48.a strategy that worked in the previous level won't work in the
:08:49. > :08:58.next level. How relevant is this when there are not the same
:08:59. > :09:01.pressures you face in a boardroom? One element of this game is that if
:09:02. > :09:05.you keep trying you will be successful. That can work in
:09:06. > :09:08.business. If you are designing a new product, and the manufacturing
:09:09. > :09:12.didn't work the first time, you can try a different approach. Sometimes
:09:13. > :09:15.it may seem stressful and you might not think you can get through, but
:09:16. > :09:19.if you keep persisting you will survive, and if you don't succeed
:09:20. > :09:25.you learn how to deal with failure, because in the game many times you
:09:26. > :09:28.fail. Like in a boardroom, your pitch may not be successful but you
:09:29. > :09:33.can find a different boardroom, so it teaches mental toughness. The bad
:09:34. > :09:37.news for gamers is that not all videogames will help you develop
:09:38. > :09:44.these Pacific skills. The important thing is to play complex puzzle
:09:45. > :09:46.games if you want to think more creatively on your feet `` specific
:09:47. > :09:55.skills. As cash transactions come more
:09:56. > :10:03.common, large cash amounts will be harder to find. This is a specimen
:10:04. > :10:06.of Singapore's $10,000 note. It will be taken off the printing presses
:10:07. > :10:11.from the 1st of October, in a move to lower with the risk of money
:10:12. > :10:17.laundering. In the US, the biggest note currently printed is the $100
:10:18. > :10:21.bill, while in the UK the highest denomination is only ?50, worth 85
:10:22. > :10:26.US dollars. In Switzerland, the biggest banknote you will find his
:10:27. > :10:40.1000 Swiss francs, which is worth about $1125. Thank you for watching.
:10:41. > :10:44.A bridge has collapsed in the Brazilian city of Belo Horizonte,
:10:45. > :10:45.killing at least two