:00:00. > :00:00.Hill Carnival. It was children's day. In total more than 1 million
:00:00. > :00:21.Time for all the business news. Time for all the business news.
:00:22. > :00:27.up new markets after the first export ship sells out in Singapore.
:00:28. > :00:36.And we will take a look at what a key meeting in the American city of
:00:37. > :00:45.Jackson reveals for the US economy. Welcome to Asia Business Report.
:00:46. > :00:46.Japan's restarted exports of rice grown in Fukushima for the first
:00:47. > :00:56.time since foreign sales were halted in 2011. A 300 kilograms shipment
:00:57. > :01:06.went on sale in Singapore and sold out in just over 24 hours. The race
:01:07. > :01:13.was harvested about 60 kilometres from the Fukushima nuclear plant.
:01:14. > :01:17.If this goes well, it could mark a turning point for Fukushima's
:01:18. > :01:23.farmers. It is only 60 bags of rice, but it is the first shipment to be
:01:24. > :01:25.exported from the region since foreign retailers shunned it in the
:01:26. > :01:34.wake of the nuclear disaster in 2011. TRANSLATION: We brought in 60
:01:35. > :01:40.bags. 300 kilograms in total. In 24 hours, half has been sold. The proof
:01:41. > :01:44.is in the eating. That is why they decided to cook some of the race for
:01:45. > :01:52.people to taste. Some have agreed to trade. Is it OK? It is normal. Would
:01:53. > :02:03.you be worried about eating rice from Fukushima? No. If it is... I am
:02:04. > :02:06.sure they have done enough tests. Trade officials from Japan have come
:02:07. > :02:11.to Singapore to reassure potential buyers. One of them explains to me
:02:12. > :02:18.how the race is tested before it can be exported. There is no hiding
:02:19. > :02:22.weapons rice has come from. Each bag has a sticker saying it is a product
:02:23. > :02:28.from Fukushima. But what is important is this label. It says it
:02:29. > :02:32.has been cleared by radiation testing and is certified as safe to
:02:33. > :02:37.eat. Singapore was deliberately chosen as
:02:38. > :02:41.the first export market. TRANSLATION: Singapore is very
:02:42. > :02:46.strict about food safety. We hope it has been proved and people will
:02:47. > :02:49.realise it is safe. That is why there is so much at stake. The
:02:50. > :02:56.tsunami and earthquake which crippled the nuclear plant spilt
:02:57. > :03:02.radioactive material across nearby towns and farmland. A region once
:03:03. > :03:09.known for its high`quality rice and fruit became a wasteland. Rice
:03:10. > :03:12.exports of 100 tons each year, mainly to Hong Kong and Taiwan,
:03:13. > :03:21.became zero. That date is at the front of the
:03:22. > :03:30.minds of some shoppers. That is the main reason? Fukushima's farmers may
:03:31. > :03:35.have a tougher time selling it to other markets. But there is plenty
:03:36. > :03:40.of public debate about whether the rice is said to eat. Japanese
:03:41. > :03:47.authorities know they have a big challenge overcoming those concerns.
:03:48. > :03:53.Jackson hole in the American state of Wyoming, that was the destination
:03:54. > :03:58.for the annual get`together hosted by the chair of the US Federal
:03:59. > :04:01.reserve. There was plenty to discuss, including how to manage the
:04:02. > :04:06.relationship between unemployment and inflation. But the question
:04:07. > :04:15.hanging over proceedings was, when our US interest rates going up? I
:04:16. > :04:22.asked what that will mean for Asian markets. Just explain what she means
:04:23. > :04:29.by this. The unemployment rate is around 6.5%. People are hiring in
:04:30. > :04:35.the US, but also more people are getting back into the labour force.
:04:36. > :04:43.She thinks the market will go up and up. That is good news. The effect of
:04:44. > :04:47.that on Asian producers, more people are getting jobs and they should get
:04:48. > :04:52.more products. That should be good news for Asia. Last year we saw a
:04:53. > :04:59.massive meltdown for emerging markets. Many in Asia were dismayed
:05:00. > :05:03.when the Fed said that they would raise interest rates. Do you think
:05:04. > :05:15.they are more resilient now? Definitely. I do not know why they
:05:16. > :05:26.were expecting it. But they have taken a hit on that. When the Fed
:05:27. > :05:29.papers and removes, we should not see much of an effect on the stock
:05:30. > :05:34.markets around the world, or even currencies.
:05:35. > :05:43.The ten members of Association of Southeast Asian Nations form an
:05:44. > :05:49.economic community. The 600 million people would be able to work within
:05:50. > :05:53.any country. This could have challenges as well as opportunities.
:05:54. > :05:59.I asked how this would affect the region. Southeast Asia is to be
:06:00. > :06:05.classified under Asia, Asia`Pacific, far east. Now it
:06:06. > :06:20.stands up as a region in its own right. And that can, that sort of
:06:21. > :06:33.mindset as how one looks at it can only intensify. That of course will
:06:34. > :06:39.see a lot of government reform. On the private sector side, we already
:06:40. > :06:51.see increased collaboration, investments, throughout the region.
:06:52. > :06:58.The Chinese carmaker BYD, supported by Warren Buffett, posted a slump.
:06:59. > :07:06.There was an offset in the search of its electric car business.
:07:07. > :07:10.A Chinese oil giant has beaten a forecast in profits. It was the $2
:07:11. > :07:18.billion, compared to 2.2 billion other. `` $3 billion.
:07:19. > :07:24.Dialogue between India and Pakistan has again been derailed. A talk
:07:25. > :07:32.scheduled to be held in Islamabad today was called off after
:07:33. > :07:37.Pakistan's ambassador met Kashmir separatist leaders. We have been
:07:38. > :07:41.looking at the lost business and trade opportunities between the two
:07:42. > :07:45.countries. Ties between the neighbours have been growing and
:07:46. > :07:49.hopes that the delicate and troubled relationship would be improved have
:07:50. > :07:53.been sparked by the new Indian Prime Minister inviting the Pakistani
:07:54. > :07:58.President to visit. HS2 seen as unprecedented. But all
:07:59. > :08:06.too quickly, over the touchy issue of Kashmir, relations have once
:08:07. > :08:12.again soured. And that means trade ties which are already very limited
:08:13. > :08:20.could also suffer. Our trade is $2.6 billion. It is nothing. Illegal
:08:21. > :08:29.trade is twice as much. So is third`party trade. This is a tax on
:08:30. > :08:35.everybody, the Pakistani government, the Indian government and the Indian
:08:36. > :08:44.people. India often gets onions from Pakistani and Islamabad depends on
:08:45. > :08:52.Delhi for wheat exports. From Mumbai, India's is this capital and
:08:53. > :08:56.an important port on the country's West Coast, Karachi is just about
:08:57. > :09:01.1000 kilometres away. A short distance for cargo ships and not
:09:02. > :09:03.long for passengers either. It is a link that could benefit both
:09:04. > :09:10.countries if it was open to free traffic. But so far security
:09:11. > :09:14.concerns have stopped that. This is one of the few places along the
:09:15. > :09:19.border that allows trade between the countries. While India has no
:09:20. > :09:25.restriction on imports and exports, there are more than 1200 Indian
:09:26. > :09:30.products banned from Pakistan, including garments and textiles.
:09:31. > :09:35.Here in India, the Prime Minister has made it clear that he wants to
:09:36. > :09:39.strengthen ties in South Asia. Despite the political conflict in
:09:40. > :09:42.Pakistan, there is a realisation that without improving that
:09:43. > :09:49.relationship, this may never be possible.
:09:50. > :09:58.That was on India business report, you can tune in every weekend.
:09:59. > :10:07.A quick look at the markets. They are all fairly mixed in Asia. Gains
:10:08. > :10:13.due to the weaker yen, the US dollar incredibly strong. It has gone up to
:10:14. > :10:20.an 11 month high. That has been propelling Japanese stocks higher.
:10:21. > :10:27.That increases profits. However, others lowered taking their cues
:10:28. > :10:34.from New York. And of course, the comments about the Fed continuing to
:10:35. > :10:36.be cautious about interest rates. That is it for this edition of Asia
:10:37. > :10:44.Business Report. Thank you for watching.
:10:45. > :10:49.This is BBC News. Here are the headlines: Richard Attenborough,
:10:50. > :10:54.widely regarded as one Briton's greatest actors and some directors,
:10:55. > :10:58.has died at the age 90. An American journalist kidnapped
:10:59. > :11:01.nearly two is ago has been freed and handed over to the United Nations.
:11:02. > :11:02.A British man