04/08/2014 Asia Business Report

for drug smuggling. Let us go to sink bore. ``

Singapore. New labour laws in Singapore look

set to make it harder for foreigners to get jobs. And Macau, the casino

capital of the world. But is China's anticorruption drive

keeping a development away? Thank you for joining us for this

edition of the Asia Business Report. Businesses here in Singapore are now

operating under new laws that will make it harder for foreigners to get

jobs. Critics say it is a turnaround for this island nation, which is

known for its booming economy and regularly tops global rankings for

ease of doing business. The government says the laws will level

the playing field for locals. But many worry it will have a negative

impact on the economy. Singapore, a nation with many

different faces. Alongside its multicultural local population,

nearly one in three is a foreigner. Many of them having flocked here

from Europe, Australia and other parts of Asia for job opportunities

not available back home. In the heart of Singapore's business

district, the mix of locals and foreigners is quite evident. This is

a nation of immigrants that built a reputation on being an open and free

economy. Things are now changing. New laws have just taken a fact that

require employers to advertise jobs with a maximum weight of `` weight

of 96,000 dollars per month to locals before foreigners. It has

triggered mixed feelings. It is going to get harder. Not great for

us, I guess. I am finding a job soon. It increases the opportunities

for me. I am definitely worried about competition. But in a

competitive nation you have to step up to the challenge. Nearly 34% of

the workforce foreigners. And this will create hurdles for companies

trying to find workers with the right skill set. We already have a

skill shortage. There is a danger that this might exacerbate and turns

of organisations of setting up businesses in Singapore. It is yet

to be seen. But in the long`term, but this might have a negative

impact. The government has faced vocal opposition from Singapore

locals. It is looking to get support. They say the new rules will

ensure they are employment. `` there are employment. For a nation with

little natural resources, a diverse labour force is crucial for it to

continue along a path of success. In other business News making

headlines, China's nonmanufacturing data slowed. The Kosovo covers

sectors like software, construction, aviation and

transport. `` survey. It came at 54.2% in July, down slightly from

June. A reading above 50 indicates an expansion.

Equitable taxi application is attracting attention again in

London. A politician has written to

London's now, Boris Johnson, asking my car as are allowed to take

bookings to the application without a licence to operate in the capital.

Uber said it was complying with all applicable laws. The world's casino

capital is on a bit of a losing streak.

It has reported its second consecutive before on takings. Gavin

`` gambling revenue is still every $3.5 billion, on top of a similar

slump in June. I asked if we were likely to see a further fall in

revenues this year. Earnings are expected to reflect what we have

already seen reported in the city as a whole. We have reports later this

Thursday. They both run large, popular casinos. Investors will be

scrutinising those reports to see how they are reacting and responding

to what we have already seen in June and July. With those revenue falls.

The first time we have seen this happen since the height of the

financial crisis. This is a city that has become synonymous with

casino gambling. In terms of revenue, it is seven times bigger

than Las Vegas. In terms of business, $45 billion last year. The

reason we have been seeing these falls in casino business is

essentially the ongoing anticorruption crackdown in China.

As a result of that, we have also seen some new Visa restrictions for

some travellers. We have also had the World Cup perfect. The fact a

lot of gamblers in China love the World Cup. They love football. They

have been putting their money, some of it, legally online. Of legally in

Macau. In other financial news, Portugal's

central bank is announcing plans to rescue the troubled lender. It will

be split into two parts. One will be a good bank, with healthy assets,

the other a bad bank with toxic assets. It will get an injection of

$6.6 billion from Portugal bailout fund and those in Europe are worried

about what energy bills. `` increasing. The firm said it found a

staggering increase in the number of people who intend to prioritise

energy efficiency. What makes a good entrepreneur? One

person who knows is Singapore `based Grace Clapham. She has been

hand`picked by Richard Branson and Steve Wozniack for an entrepreneur

award. Her not`for`profit business helps others become successful

entrepreneurs. I asked her what motivated her to start this

business. For me, I was lacking a space for myself. When I reached out

to some friends, they were feeling the same way. I decided to try it

out with 12 women, see what happened. We ended up getting a

response was 50. It is about creating a space that was freed that

allowed us to be more than a network. Handing out business cards,

but we were able to provide a comfortable space for education, for

P2P sharing, as well as creating bonds and relationships. Why do

women need these communities more than men? I get asked this question

quite a bit. I do not know. I think we need more talking. We tend to

talk more. We also tend to be a little bit more, we need a

comfortable environment. Is this something we see across Asia? Secret

women's business runs in six cities. In Singapore, barley, Jakarta, and

we are launching in Manila soon. We are launching the communities across

the region. There is also by the lingering on. I will do marketing

for you if you help me with my website. Is this because there is a

lack of women role models in Asia? I do not know if it is about a lack of

role models. I think it is about, how you provide access to women

interested in being entrepreneurs. And how do you provide more

information and tools and resources to them against having to go down a

traditional route. What kind of businesses? Technology,, fashion.

Women can compete across the board. Absolutely. You have a lot of

technology in Singapore, in Bangkok. In Indonesia, in Jakarta,

the growth of the women entrepreneurs is significant.

Award`winning entrepreneur Grace Clapham. Before we go, a quick look

at the Asian markets. Stocks are currently in negative territorial in

early trade. `` negative territory. Investors are still concerned about

geopolitical concerns in Israel and Ukraine. Also problems in Europe and

Argentina with the debt default. We are seeing a slight uptake for

Hong Kong. Those are the markets. Thank you for

investing your time with us. Goodbye for now.

You are watching BBC News. Here are the headlines: The United Nations

and the United States condemned an Israeli airstrike. Israel announces

a seven`hour humanitarian ceasefire. An earthquake has struck

a remote part of south`west China, killing more than 380 people. 12

children and five adults have