:00:00. > :00:00.for drug smuggling. Let us go to sink bore. ``
:00:00. > :00:17.Singapore. New labour laws in Singapore look
:00:18. > :00:24.set to make it harder for foreigners to get jobs. And Macau, the casino
:00:25. > :00:33.capital of the world. But is China's anticorruption drive
:00:34. > :00:37.keeping a development away? Thank you for joining us for this
:00:38. > :00:43.edition of the Asia Business Report. Businesses here in Singapore are now
:00:44. > :00:49.operating under new laws that will make it harder for foreigners to get
:00:50. > :00:54.jobs. Critics say it is a turnaround for this island nation, which is
:00:55. > :00:57.known for its booming economy and regularly tops global rankings for
:00:58. > :01:02.ease of doing business. The government says the laws will level
:01:03. > :01:07.the playing field for locals. But many worry it will have a negative
:01:08. > :01:13.impact on the economy. Singapore, a nation with many
:01:14. > :01:16.different faces. Alongside its multicultural local population,
:01:17. > :01:19.nearly one in three is a foreigner. Many of them having flocked here
:01:20. > :01:24.from Europe, Australia and other parts of Asia for job opportunities
:01:25. > :01:29.not available back home. In the heart of Singapore's business
:01:30. > :01:34.district, the mix of locals and foreigners is quite evident. This is
:01:35. > :01:40.a nation of immigrants that built a reputation on being an open and free
:01:41. > :01:44.economy. Things are now changing. New laws have just taken a fact that
:01:45. > :02:01.require employers to advertise jobs with a maximum weight of `` weight
:02:02. > :02:04.of 96,000 dollars per month to locals before foreigners. It has
:02:05. > :02:11.triggered mixed feelings. It is going to get harder. Not great for
:02:12. > :02:17.us, I guess. I am finding a job soon. It increases the opportunities
:02:18. > :02:22.for me. I am definitely worried about competition. But in a
:02:23. > :02:29.competitive nation you have to step up to the challenge. Nearly 34% of
:02:30. > :02:33.the workforce foreigners. And this will create hurdles for companies
:02:34. > :02:40.trying to find workers with the right skill set. We already have a
:02:41. > :02:47.skill shortage. There is a danger that this might exacerbate and turns
:02:48. > :02:50.of organisations of setting up businesses in Singapore. It is yet
:02:51. > :02:58.to be seen. But in the long`term, but this might have a negative
:02:59. > :03:02.impact. The government has faced vocal opposition from Singapore
:03:03. > :03:08.locals. It is looking to get support. They say the new rules will
:03:09. > :03:15.ensure they are employment. `` there are employment. For a nation with
:03:16. > :03:22.little natural resources, a diverse labour force is crucial for it to
:03:23. > :03:28.continue along a path of success. In other business News making
:03:29. > :03:33.headlines, China's nonmanufacturing data slowed. The Kosovo covers
:03:34. > :03:42.sectors like software, construction, aviation and
:03:43. > :03:46.transport. `` survey. It came at 54.2% in July, down slightly from
:03:47. > :03:54.June. A reading above 50 indicates an expansion.
:03:55. > :03:57.Equitable taxi application is attracting attention again in
:03:58. > :04:01.London. A politician has written to
:04:02. > :04:06.London's now, Boris Johnson, asking my car as are allowed to take
:04:07. > :04:12.bookings to the application without a licence to operate in the capital.
:04:13. > :04:22.Uber said it was complying with all applicable laws. The world's casino
:04:23. > :04:25.capital is on a bit of a losing streak.
:04:26. > :04:32.It has reported its second consecutive before on takings. Gavin
:04:33. > :04:39.`` gambling revenue is still every $3.5 billion, on top of a similar
:04:40. > :04:45.slump in June. I asked if we were likely to see a further fall in
:04:46. > :04:50.revenues this year. Earnings are expected to reflect what we have
:04:51. > :05:01.already seen reported in the city as a whole. We have reports later this
:05:02. > :05:07.Thursday. They both run large, popular casinos. Investors will be
:05:08. > :05:12.scrutinising those reports to see how they are reacting and responding
:05:13. > :05:20.to what we have already seen in June and July. With those revenue falls.
:05:21. > :05:27.The first time we have seen this happen since the height of the
:05:28. > :05:31.financial crisis. This is a city that has become synonymous with
:05:32. > :05:35.casino gambling. In terms of revenue, it is seven times bigger
:05:36. > :05:42.than Las Vegas. In terms of business, $45 billion last year. The
:05:43. > :05:46.reason we have been seeing these falls in casino business is
:05:47. > :05:53.essentially the ongoing anticorruption crackdown in China.
:05:54. > :05:58.As a result of that, we have also seen some new Visa restrictions for
:05:59. > :06:04.some travellers. We have also had the World Cup perfect. The fact a
:06:05. > :06:09.lot of gamblers in China love the World Cup. They love football. They
:06:10. > :06:19.have been putting their money, some of it, legally online. Of legally in
:06:20. > :06:23.Macau. In other financial news, Portugal's
:06:24. > :06:29.central bank is announcing plans to rescue the troubled lender. It will
:06:30. > :06:33.be split into two parts. One will be a good bank, with healthy assets,
:06:34. > :06:44.the other a bad bank with toxic assets. It will get an injection of
:06:45. > :06:49.$6.6 billion from Portugal bailout fund and those in Europe are worried
:06:50. > :06:57.about what energy bills. `` increasing. The firm said it found a
:06:58. > :07:05.staggering increase in the number of people who intend to prioritise
:07:06. > :07:10.energy efficiency. What makes a good entrepreneur? One
:07:11. > :07:15.person who knows is Singapore `based Grace Clapham. She has been
:07:16. > :07:22.hand`picked by Richard Branson and Steve Wozniack for an entrepreneur
:07:23. > :07:31.award. Her not`for`profit business helps others become successful
:07:32. > :07:37.entrepreneurs. I asked her what motivated her to start this
:07:38. > :07:41.business. For me, I was lacking a space for myself. When I reached out
:07:42. > :07:46.to some friends, they were feeling the same way. I decided to try it
:07:47. > :07:51.out with 12 women, see what happened. We ended up getting a
:07:52. > :07:54.response was 50. It is about creating a space that was freed that
:07:55. > :08:01.allowed us to be more than a network. Handing out business cards,
:08:02. > :08:06.but we were able to provide a comfortable space for education, for
:08:07. > :08:12.P2P sharing, as well as creating bonds and relationships. Why do
:08:13. > :08:18.women need these communities more than men? I get asked this question
:08:19. > :08:24.quite a bit. I do not know. I think we need more talking. We tend to
:08:25. > :08:32.talk more. We also tend to be a little bit more, we need a
:08:33. > :08:38.comfortable environment. Is this something we see across Asia? Secret
:08:39. > :08:45.women's business runs in six cities. In Singapore, barley, Jakarta, and
:08:46. > :08:50.we are launching in Manila soon. We are launching the communities across
:08:51. > :08:54.the region. There is also by the lingering on. I will do marketing
:08:55. > :09:02.for you if you help me with my website. Is this because there is a
:09:03. > :09:07.lack of women role models in Asia? I do not know if it is about a lack of
:09:08. > :09:13.role models. I think it is about, how you provide access to women
:09:14. > :09:18.interested in being entrepreneurs. And how do you provide more
:09:19. > :09:25.information and tools and resources to them against having to go down a
:09:26. > :09:30.traditional route. What kind of businesses? Technology,, fashion.
:09:31. > :09:39.Women can compete across the board. Absolutely. You have a lot of
:09:40. > :09:43.technology in Singapore, in Bangkok. In Indonesia, in Jakarta,
:09:44. > :09:50.the growth of the women entrepreneurs is significant.
:09:51. > :09:56.Award`winning entrepreneur Grace Clapham. Before we go, a quick look
:09:57. > :10:03.at the Asian markets. Stocks are currently in negative territorial in
:10:04. > :10:08.early trade. `` negative territory. Investors are still concerned about
:10:09. > :10:13.geopolitical concerns in Israel and Ukraine. Also problems in Europe and
:10:14. > :10:27.Argentina with the debt default. We are seeing a slight uptake for
:10:28. > :10:30.Hong Kong. Those are the markets. Thank you for
:10:31. > :10:39.investing your time with us. Goodbye for now.
:10:40. > :10:49.You are watching BBC News. Here are the headlines: The United Nations
:10:50. > :10:53.and the United States condemned an Israeli airstrike. Israel announces
:10:54. > :10:56.a seven`hour humanitarian ceasefire. An earthquake has struck
:10:57. > :11:01.a remote part of south`west China, killing more than 380 people. 12
:11:02. > :11:02.children and five adults have