Browse content similar to 31/07/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
blaze. Those are the headlines. Time to go | :00:00. | :00:00. | |
to Singapore and get all the latest business. | :00:00. | :00:17. | |
John Kerry leads the first delegation to India since the | :00:18. | :00:26. | |
elections in May. Striking a chord in Asia. How the | :00:27. | :00:30. | |
parents of children like this young boy are driving growth for piano | :00:31. | :00:37. | |
makers. Thank you for joining us for this | :00:38. | :00:43. | |
edition of Asia Business Report. The American online retail giant Amazon | :00:44. | :00:46. | |
is boosting its business in with a $2 billion investment. John | :00:47. | :00:59. | |
Kerry let a delegation to India for the first time since Narenda Modi | :01:00. | :01:07. | |
won a landslide victory. Even before he arrived, John Kerry | :01:08. | :01:14. | |
was talking about the relations between the US and India with a | :01:15. | :01:16. | |
promise to increase trade and investment. Now is the time to renew | :01:17. | :01:23. | |
that dialogue with the new government and a new set of | :01:24. | :01:29. | |
opportunities. This is a potentially transformative moment in our | :01:30. | :01:33. | |
partnership. Despite the up its political rhetoric, relationships | :01:34. | :01:37. | |
between the democracies are not at their best. Disputes over trade and | :01:38. | :01:46. | |
international property have dominated ties. `` intellectual. | :01:47. | :01:54. | |
There are plenty of hurdles to clear. India is desperate for more | :01:55. | :02:02. | |
energy. And it has its eye on sheep Shell gas imports from the US. `` | :02:03. | :02:07. | |
cheap. At the moment it only sells gas to countries it has a freak | :02:08. | :02:14. | |
trade agreement with. `` free trade. India wants the US to open up the | :02:15. | :02:20. | |
market. The US, on the other hand, is worried about protection of | :02:21. | :02:30. | |
intellectual property, especially pharmaceuticals. India needs to be | :02:31. | :02:33. | |
reaching out to all partners. We are pleased that the US is India's | :02:34. | :02:40. | |
second largest trading partner. There was an enormous possibility | :02:41. | :02:44. | |
for growth. Trade in goods and services between the US and India | :02:45. | :02:48. | |
totalled almost $100 billion last year. A fivefold increase since | :02:49. | :02:58. | |
2000. Narenda Modi will visit the US later this year to meet President | :02:59. | :03:03. | |
Obama. It could be a significant step to repairing the relationship | :03:04. | :03:07. | |
between the countries. But some unimportant ground work is likely to | :03:08. | :03:10. | |
be done here in the next few days. `` important. | :03:11. | :03:17. | |
The world's biggest economy has indeed bounced back. US holdings | :03:18. | :03:24. | |
expanded by 4%. That traverses a sharp 2.9% annual fall in the start | :03:25. | :03:29. | |
of the year. `` reverses. The Federal reserve said it would ease | :03:30. | :03:35. | |
back on its stimulus efforts. The central bank reaffirmed that it | :03:36. | :03:39. | |
is in no hurry to raise the cost of borrowing. As for Asian stocks, also | :03:40. | :04:04. | |
in positive territory. The US dollar has disappointed investors on its | :04:05. | :04:10. | |
bias on monetary policy. Moving the technology. | :04:11. | :04:15. | |
Samsung's second`quarter profits plunging nearly 20% from a year ago. | :04:16. | :04:21. | |
It is because of a slowdown in its smartphone business. The | :04:22. | :04:24. | |
disappointing numbers are largely in line with the previous. Nintendo | :04:25. | :04:32. | |
shares are tumbling after bigger than expected first`quarter losses. | :04:33. | :04:38. | |
It has a $97 million deficit in the three months to June compared and | :04:39. | :04:44. | |
$84 million profit for the same period a year ago. Sales are down | :04:45. | :04:52. | |
despite the release in May. Microsoft's Xbox one is being | :04:53. | :04:56. | |
launched in China in late September. The first main foreign games console | :04:57. | :05:02. | |
to go on sale there for teen years. It comes in spite of an antimonopoly | :05:03. | :05:06. | |
investigation into the US company by mainland authorities. | :05:07. | :05:12. | |
In Hong Kong, the international conglomerate controlled by Asia's | :05:13. | :05:16. | |
richest family will unveil its half`year results. It is not | :05:17. | :05:22. | |
expected to deliver a much in terms of profit growth. | :05:23. | :05:34. | |
The telecoms conglomerate has had a busy year so far. In much the | :05:35. | :05:39. | |
billionaire behind the group sold the bulk of his stake in a container | :05:40. | :05:43. | |
terminal. The deal raised questions about his continuing commitment to | :05:44. | :05:50. | |
Hong Kong, a business focused city. Later in the same month, Hutchinson | :05:51. | :05:55. | |
announced it would sell a quarter of its stake in the health and beauty | :05:56. | :06:02. | |
chain Watsons. For nearly $6 billion. He also decided to list his | :06:03. | :06:07. | |
power assets on the Hong Kong stock exchange. It was not as successful | :06:08. | :06:13. | |
as expected. Some investors said they were due to reap. `` jittery. | :06:14. | :06:24. | |
He did it in a three`month period by selling three major assets of his | :06:25. | :06:31. | |
companies. That makes people think it might not be a very good value. | :06:32. | :06:38. | |
With so many high profile divestments this year, savvy | :06:39. | :06:41. | |
investors are wondering if Hong Kong is no longer a great place to put | :06:42. | :06:48. | |
one's money. TRANSLATION: That is why he decided to sell off the | :06:49. | :06:54. | |
assets. He makes the product from Hong Kong. I think he will still | :06:55. | :07:01. | |
stay in Hong Kong. He said he is not abandoning Hong Kong for greener | :07:02. | :07:04. | |
pastures, saying the asset sales are a normal part of the business cycle. | :07:05. | :07:12. | |
But he has admitted to losing sleep over the city's future. One major | :07:13. | :07:20. | |
worry is a planned civil disobedience movement organised by | :07:21. | :07:23. | |
pro`democracy activists who want genuine democratic reforms. He | :07:24. | :07:28. | |
believes the sit in will hurt Hong Kong. So far, stock`market investors | :07:29. | :07:35. | |
have shown little concern over occupy a central. But they will be | :07:36. | :07:39. | |
closely watching the results briefing for any clues into how the | :07:40. | :07:44. | |
company plans to spend the money raised from the asset sales. | :07:45. | :07:52. | |
One of the world's best`known carmakers has made huge inroads into | :07:53. | :07:57. | |
China over the past decade. `` piano makers. | :07:58. | :08:15. | |
Like many parents in Asia, mind pushed me to play the piano. But | :08:16. | :08:19. | |
unlike many parents now, mind could not afford to get me one of these. | :08:20. | :08:27. | |
One of these can set you back about $250,000. Asia makes up nearly half | :08:28. | :08:32. | |
the global sales, and growth is expected at 20% this year alone. | :08:33. | :08:38. | |
With me now is the president of Steinway Asia`Pacific. What is | :08:39. | :08:46. | |
behind this growth? Is it down the pushy parents? I would not say pushy | :08:47. | :08:53. | |
parents, but parents who take care of the education of their children. | :08:54. | :09:00. | |
When it comes to piano playing. It is that approach to learning that | :09:01. | :09:05. | |
saw this young man's parents get him a Steinway earlier this year. He is | :09:06. | :09:11. | |
just 11 years old. In each and unique to this region, nearly half | :09:12. | :09:18. | |
of the sales in many Asian countries are down to parents buying them for | :09:19. | :09:22. | |
their young children. Ten years ago, Steinway hardly sold any pianos | :09:23. | :09:28. | |
in China. Now it has become popular to play piano. You have been | :09:29. | :09:34. | |
credited with turning around the fortunes of Steinway. How did you | :09:35. | :09:39. | |
manage to do that? When I came to China, it did not look so inviting | :09:40. | :09:44. | |
for a product like ours. Within the past ten years, we have built our | :09:45. | :09:52. | |
base in Shanghai. We also develop the market by talking very closely | :09:53. | :09:59. | |
to the education people, the institutions. The conservator is. | :10:00. | :10:03. | |
How do you build a business model around a product that does not need | :10:04. | :10:09. | |
replacing? We mostly have one time buyers. You cannot keep telling them | :10:10. | :10:15. | |
that you need a new one. It is just developing. It is growing with the | :10:16. | :10:25. | |
player. People talk about it. They are telling their friends. This is | :10:26. | :10:30. | |
one part of the success. The second part is we are a global company. | :10:31. | :10:34. | |
There are always markets we can develop. | :10:35. | :10:41. | |
Great talent. A star in the making. Thank you for investing your time | :10:42. | :10:48. | |
with us. Goodbye for now. You are watching BBC News. Here are | :10:49. | :10:53. | |
the headlines: The United States and the United Nations have condemned an | :10:54. | :10:57. | |
attack on a US school in Gaza that was sheltering | :10:58. | :10:58. |