Browse content similar to 11/07/2014. Check below for episodes and series from the same categories and more!
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that could be achieved". Now on BBC News all the latest | :00:00. | :00:13. | |
business news live from Singapore. India's new government delivers its | :00:14. | :00:17. | |
first budget, reaction from the financial capital is next. Japan | :00:18. | :00:23. | |
looks to a Pacific nation to secure important energy supplies. Welcome | :00:24. | :00:34. | |
to Asia Business Report. India's new government is promising to bring | :00:35. | :00:39. | |
back higher economic growth with its first budget but the reaction has | :00:40. | :00:43. | |
been mixed. Some were disappointed that a number of key issues were | :00:44. | :00:47. | |
ignored and others bought it with a pragmatic budget. The new | :00:48. | :00:51. | |
administration had indicated that tough measures had to be in place to | :00:52. | :00:55. | |
help the Indian economy gets back on track. We're now joined by a | :00:56. | :01:01. | |
correspondent. Is the budget the bitter medicine that the Finance | :01:02. | :01:05. | |
Minister and Narendra Modi had said it would be? We did not see much of | :01:06. | :01:12. | |
it last night. Most people today are saying that it was sugarcoated for | :01:13. | :01:20. | |
everyone and that nothing was a big bang. Or were no fireworks or | :01:21. | :01:26. | |
subsidy cuts. Subsidy India has a $40 billion bill of subsidies and | :01:27. | :01:30. | |
many people expected the Finance Minister to cut some of these but we | :01:31. | :01:36. | |
did not see any of that. We did not see a solid roadmap or plan as to | :01:37. | :01:41. | |
how he is going to bring down the fiscal deficit or introduce new | :01:42. | :01:45. | |
taxes that people were waiting for honey goods and services tax which | :01:46. | :01:51. | |
would have rationalized things that exist in the country that we did not | :01:52. | :02:00. | |
see any of that `` on goods. What was in the budget for foreign | :02:01. | :02:05. | |
investors? One was a policy introduced by the previous | :02:06. | :02:09. | |
government which has hit local taxpayers including Vodafone which | :02:10. | :02:15. | |
was hit by a tax bill retrospectively which made many | :02:16. | :02:16. | |
foreign investors cautious about looking money here. This | :02:17. | :02:22. | |
controversial law has been blamed for choking investment pipelines | :02:23. | :02:26. | |
into India and so he made a strong statement saying that they would not | :02:27. | :02:29. | |
support any retrospective amendment but did not repeal the law. Many | :02:30. | :02:34. | |
analysts are saying that this is good enough to get started with and | :02:35. | :02:37. | |
that the Foreign Minister will look at the market again. Also coming | :02:38. | :02:43. | |
opening larger sections of depends and insurance industries for more | :02:44. | :02:49. | |
investment is expected to follow. That has also garnered mixed | :02:50. | :02:53. | |
reactions. Everyone is talking about more money coming into India but | :02:54. | :02:58. | |
they are not sure about Defence. What our experts saying in India? | :02:59. | :03:05. | |
The economy has been expanding below 5% over the past several quarters, | :03:06. | :03:10. | |
could it at least improve the economic fundamentals going | :03:11. | :03:15. | |
forward? It was a balanced budget and have a lot in it that said that | :03:16. | :03:22. | |
it was the beginning of the journey. Narendra Modi said that India cannot | :03:23. | :03:26. | |
afford to spend beyond its means and everyone is hopeful that this is | :03:27. | :03:28. | |
only the beginning as they have only been in government for orgy five | :03:29. | :03:39. | |
days. `` 45. Thank you. For the first time in many years, Papua New | :03:40. | :03:45. | |
Guinea is playing host to a Prime Minister from Japan. He is looking | :03:46. | :03:48. | |
to shore up energy supplies and Papua New Guinea is becoming a big | :03:49. | :03:59. | |
provider of natural gas. One of `` Japan's future in a `` energy | :04:00. | :04:06. | |
remained undecided and they're looking for alternate sources. I | :04:07. | :04:09. | |
spoke to a correspondent from Sydney and asked him what makes Papua New | :04:10. | :04:16. | |
Guinea unattractive provider. I have extensive `` they have extensive | :04:17. | :04:24. | |
resources and they have proved the mic just taken the first step in | :04:25. | :04:29. | |
tapping them. They will be an important player in the region for | :04:30. | :04:33. | |
many years to come. Should foreign investors be concerned about the | :04:34. | :04:37. | |
security situation in the nation and the corruption case involving the | :04:38. | :04:43. | |
Prime Minister of the country? There are certainly risks involved in | :04:44. | :04:47. | |
being in Papua New Guinea and investing in large infrastructure | :04:48. | :04:53. | |
projects there but a lot has been learned in recent years where | :04:54. | :04:55. | |
environmental concerns and failure to include landowners in the | :04:56. | :05:00. | |
benefits have meant that projects have been shut down. These lessons | :05:01. | :05:05. | |
are fresh in the minds of investors and in the minds of the government | :05:06. | :05:09. | |
and while there is turmoil at the moment, the value that could be | :05:10. | :05:13. | |
released through these projects is so large that many are willing to | :05:14. | :05:19. | |
take the risk. One doubts if the revenues from foreign investors | :05:20. | :05:23. | |
coming particularly energy and infrastructure will be used wisely. | :05:24. | :05:29. | |
That is a there are concerns that the benefits of this project could | :05:30. | :05:33. | |
be lost but lessons have been learned from previous disasters and | :05:34. | :05:36. | |
it is quite clear that the regions in which these projects are built | :05:37. | :05:40. | |
must benefit from them if they are to have a long life. Thank you. When | :05:41. | :05:50. | |
it comes to doing business are forcing changes, it can be quite | :05:51. | :05:54. | |
difficult. Even harder when the people you work with are your | :05:55. | :05:58. | |
relatives. In this latest part of our family business theories, we | :05:59. | :06:03. | |
take you to tie one and a firm which is reinventing itself `` Taiwan. | :06:04. | :06:10. | |
This woman's family has been making calligraphy brushes for many years | :06:11. | :06:14. | |
and their skills and knowledge are the best types of family business | :06:15. | :06:22. | |
branding. This man is the fourth generation in the business and he | :06:23. | :06:25. | |
was not going to do things the way his parents, rent parents and great | :06:26. | :06:35. | |
grandparents did. `` and great grandparents. Using their expertise | :06:36. | :06:41. | |
on hair, they now sell more than a 100 types of brushes for automatics | :06:42. | :06:52. | |
as well `` cosmetics. You have district in the Chinese characters | :06:53. | :07:02. | |
for BBC. `` Britain. Why did you decide to transform the business | :07:03. | :07:05. | |
from strictly calligraphy into one that makes cosmetic brushes? | :07:06. | :07:13. | |
TRANSLATION: I was working in sales in the family business in 2008 and I | :07:14. | :07:17. | |
noticed that deliveries had declined and passed by a nail salon and | :07:18. | :07:20. | |
noticed how find the e`mail brushes were. I thought that we could make | :07:21. | :07:28. | |
brushes as fine as that `` nail. When my grandfather found out, he | :07:29. | :07:35. | |
thought it was good quality and that it was a good idea. Despite getting | :07:36. | :07:42. | |
approval from his elders, he faced other challenges. He had to convince | :07:43. | :07:46. | |
customers that his company could make great brushes, not just for | :07:47. | :07:53. | |
calligraphy that for makeup. He also had to source new materials and | :07:54. | :07:56. | |
market his product in a different way, including online. The economy | :07:57. | :08:01. | |
of Taiwan is made up of many family`run companies, this store is | :08:02. | :08:07. | |
an example of how, in recent years, many of these businesses had | :08:08. | :08:16. | |
transformed in order to keep running for generations to come. The hard | :08:17. | :08:21. | |
work has paid off. Revenue has increased and the company is | :08:22. | :08:24. | |
increasingly known for the makeup side of the business which now makes | :08:25. | :08:30. | |
up 70% of all revenue. But he has no plans to abandon the roots of the | :08:31. | :08:34. | |
family business. He wants people to continue to appreciate calligraphy | :08:35. | :08:38. | |
but if they come to him first for makeup brushes, that is just good | :08:39. | :08:55. | |
business. Coming up, don't miss Talking Business. Our host will be | :08:56. | :09:00. | |
talking about the music industry. It is no longer about live music, so | :09:01. | :09:06. | |
what is the new business model for those working in industry? Here is | :09:07. | :09:14. | |
the founder of the Black Eyed Peas. It has been a big change. Back in | :09:15. | :09:19. | |
the day, we had to prove ourselves to the record companies that our | :09:20. | :09:26. | |
music was tangible cut in LA honey it was redundantly `` because in LA, | :09:27. | :09:39. | |
it was predominantly gangster music and we were not tangible enough. | :09:40. | :09:45. | |
Back then, I don't want to reveal my age, but there was no e`mail or | :09:46. | :09:53. | |
Facebook, no Twitter and so we had to create a mailing list but | :09:54. | :10:03. | |
nowadays, artists have more avenues to present their music through | :10:04. | :10:07. | |
YouTube and Instagram and other social media sites and so there has | :10:08. | :10:15. | |
been a big difference. More of that interview on the programme. Most | :10:16. | :10:25. | |
Asian stocks are in negative territory on mid fears over the | :10:26. | :10:35. | |
health of Portugal's top listed bank `` amid. | :10:36. | :10:44. | |
I'm Mike Embley. The top | :10:45. | :10:45. |