Browse content similar to 01/09/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Hospital on Thursday, against the advice of doctors. Now on BBC News, | :00:00. | :00:00. | |
all the latest business news live from Singapore. | :00:00. | :00:17. | |
Boosting relations. India's Prime Minister is in Japan to improve | :00:18. | :00:23. | |
economic and defence ties. Getting hitched in China, couples turning to | :00:24. | :00:30. | |
novelty wedding photos have given rise to a new multi` billion`dollar | :00:31. | :00:39. | |
industry. Hello, and welcome to Asia Business Report. I am Sharanjit Leyl | :00:40. | :00:44. | |
in Singapore. India's Prime Minister Narendra Modi is in Japan on his | :00:45. | :00:49. | |
first big bilateral trip since taking office in May. Trade between | :00:50. | :00:53. | |
the two countries was $10 billion last year, which pales compared to | :00:54. | :00:59. | |
India's trade with China, which came in at $65 billion. On the weekend, | :01:00. | :01:03. | |
Narendra Modi and the Japanese Prime Minister Shinzo Abe visited a temple | :01:04. | :01:08. | |
in Kyoto ahead of the summit to discuss ways to expand bilateral | :01:09. | :01:11. | |
cooperation relating to economic and defence issues. During the five`day | :01:12. | :01:16. | |
visit, Shinzo Abe and his Japanese counterparts are expected to sign a | :01:17. | :01:19. | |
deal allowing for the joint production of rare earth minerals | :01:20. | :01:23. | |
and metals, key element in the defence technology sector. Both | :01:24. | :01:26. | |
nations currently import the material from China. Earlier I spoke | :01:27. | :01:30. | |
with the cheap economist for Asia Pacific at the consultancy IHS, and | :01:31. | :01:37. | |
they asked how significant it was that the Indian Prime Minister is | :01:38. | :01:40. | |
seeking to boost ties with Japan. They see Japan is a great | :01:41. | :01:44. | |
opportunity to expand the relationship that has been a | :01:45. | :01:48. | |
relatively underplayed one. I think particularly because costs of | :01:49. | :01:51. | |
manufacturing are rising in China, it is a very good opportunity now to | :01:52. | :01:58. | |
attract Japanese investment into the Indian manufacturing sector, and to | :01:59. | :02:01. | |
establish co`operation in other areas, particularly in defence and | :02:02. | :02:05. | |
energy as well. Whether India is going to Japan, to provide advanced | :02:06. | :02:12. | |
technology. Talk about defence and energy, rat earth is on the agenda, | :02:13. | :02:16. | |
nuclear energy pact as well expected to be on the agenda at `` red | :02:17. | :02:21. | |
Earth. How crucial are these two sectors for India and Japan? For | :02:22. | :02:26. | |
India in particular it is looking for energy technology. Nuclear | :02:27. | :02:30. | |
technology still on the agenda for India. It will be looking for a | :02:31. | :02:33. | |
nuclear technology from Japan, as well as other sorts of conventional | :02:34. | :02:37. | |
energy technology as well. In terms of rare earth, Japan is actually | :02:38. | :02:46. | |
very dependent on China for rare earth imports. So the opportunity | :02:47. | :02:54. | |
has actually come to watch China to supply rare earths for Japan, which | :02:55. | :02:59. | |
will be particularly used for the water industry in Japan. You say it | :03:00. | :03:02. | |
is all about trying to diversify away from China. How much is this | :03:03. | :03:06. | |
meeting and this trip about also deflecting the challenge brought | :03:07. | :03:11. | |
about by an increasingly militarised China. I think in the Japanese point | :03:12. | :03:16. | |
of view they are trying to build alliances around Asia`Pacific region | :03:17. | :03:20. | |
is, of course they are traditional allies with the US. I think from the | :03:21. | :03:26. | |
Indian perspective they are going to want to play a very balanced | :03:27. | :03:28. | |
relationship between Japan and China. Because China is a very | :03:29. | :03:32. | |
important economic relationship or India, and they don't want to get | :03:33. | :03:40. | |
into an arms race with China either. The latest gauge of manufacturing | :03:41. | :03:45. | |
activity in China, the purchasing manager's index, as slow to 51.1, | :03:46. | :03:51. | |
compared to a reading of 51.7 in July. Any reading above 50 indicates | :03:52. | :03:55. | |
an expansion. Before this morning's figures, the PMI had risen for seven | :03:56. | :04:02. | |
straight months. A Japanese company has increased its spending on plant | :04:03. | :04:07. | |
and equipment in the second quarter by 3% compared with the same time | :04:08. | :04:11. | |
last year, underlining a moderate recovery in this investment. The | :04:12. | :04:14. | |
increase follows a 7.4% increase in the first quarter of the year. The | :04:15. | :04:18. | |
Indian economy has chalked up its fastest paced growth in 2.5 years, | :04:19. | :04:23. | |
second`quarter GDP expanded by 5.7%. It was helped by strong growth | :04:24. | :04:28. | |
in financial services. The expansion follows a fresh policies launched by | :04:29. | :04:32. | |
India's new government, designed to encourage business investment. It | :04:33. | :04:40. | |
cuts are underweight in an attempt to revive the beleaguered | :04:41. | :04:44. | |
flagcarrier Malaysia Airlines. The investment fund which owns 69% of | :04:45. | :04:49. | |
the airline has announced a near $2 billion restructure. 6000 jobs, or | :04:50. | :04:54. | |
one third of the airline's workforce will go. There will be a new boss | :04:55. | :04:58. | |
for the airline, and the aim is to be back to profitability by the end | :04:59. | :05:04. | |
of 2017. The airline's financial troubles ballooned after the twin | :05:05. | :05:08. | |
disasters of MH370 and MH17. For more, our correspondent covers the | :05:09. | :05:15. | |
aviation sector at a consultancy, frost and Sullivan. People are | :05:16. | :05:18. | |
reeling over the huge loss in jobs, 6000. Will this restructuring plan | :05:19. | :05:26. | |
really be enough to turn Malaysia Airlines' fortunes around? I think | :05:27. | :05:30. | |
it is a bold move, I think it is a good move. I think that they had no | :05:31. | :05:35. | |
choice in doing so. I think the plan is a very good one. Looking at it | :05:36. | :05:39. | |
from a strategic expected it makes tremendous sense, but it will come | :05:40. | :05:43. | |
down to the into meditation `` perspective. Can they do it on the | :05:44. | :05:48. | |
ground? You say it is good, but implementation, they seem to be | :05:49. | :05:51. | |
taking a fairly hard`line already. They have chopped 6000 jobs. So will | :05:52. | :05:56. | |
is this perhaps a sign that they are willing to implement? I think for | :05:57. | :06:01. | |
sure. I really think that they have absolutely no choice whatsoever to | :06:02. | :06:04. | |
do so. They are making the right moves, and very bold moves. So I | :06:05. | :06:09. | |
think that they got off to a good starting point. Right. But this huge | :06:10. | :06:14. | |
loss in the number of jobs. How will they even keep on running? Weren't | :06:15. | :06:20. | |
they need to cut routes? They will need to cut routes, get rid of old | :06:21. | :06:23. | |
aircraft, refocus where they fly to, probably more regional flights. | :06:24. | :06:30. | |
Yes, there is going to be tremendous reshuffling and reorganisation to be | :06:31. | :06:34. | |
done. Now even if the airline were to recover, the aim is by 2017 they | :06:35. | :06:38. | |
want to go back into profitability, they still have to content with | :06:39. | :06:41. | |
competition market. Everybody is faced with | :06:42. | :06:55. | |
exactly the same thing. Thai Airways, a Asia. You have the same | :06:56. | :07:05. | |
competition in the market `` Air Asia. You have to be strong, manage | :07:06. | :07:09. | |
costs, and be very focused. I think the plan that Malaysia Airlines is | :07:10. | :07:13. | |
showing is a far more lean, mean organisation. So I think they have a | :07:14. | :07:18. | |
far better chance of survival than they have had in the past. We will | :07:19. | :07:25. | |
leave it there. If you are planning on walking down the aisle, of | :07:26. | :07:31. | |
course, there are lots of people planning that. How far would you go | :07:32. | :07:37. | |
for your wedding photos? Well, in China, couples are no longer just | :07:38. | :07:41. | |
after that traditional shot of their kiss at the altar. Their new demands | :07:42. | :07:47. | |
have created big opportunities for China's entrepreneurs in today's | :07:48. | :07:50. | |
edition of my business Asia, John Sutton worth reports on the booming | :07:51. | :07:58. | |
industry in novelty wedding photos. `` John Sudworth. It is a photo | :07:59. | :08:05. | |
shoot guaranteed to take the breath away. China's buoyant, booming | :08:06. | :08:10. | |
economy has seen a splurge in wedding spending in recent years, | :08:11. | :08:15. | |
and with it has come a rapid change in taste and customs. It is | :08:16. | :08:22. | |
special, for us, because a lot of couples choose the original styles. | :08:23. | :08:27. | |
We want a special style for us, I think underwater is more good for | :08:28. | :08:34. | |
the couples, I think. If you can't afford time off work for those | :08:35. | :08:38. | |
special images, then why not have taken on job? These photos of a | :08:39. | :08:45. | |
paramilitary police officer and his wife recently went viral on the | :08:46. | :08:49. | |
Chinese Internet. Unlike in the West, couples have their main set of | :08:50. | :08:55. | |
photos taken well in advance of the wedding, and with more than 500,000 | :08:56. | :08:59. | |
registered wedding photographers countrywide, competition is fierce. | :09:00. | :09:06. | |
In Shanghai alone, there are dozens of studios with the special tanks | :09:07. | :09:11. | |
needed for the underwater shots. China might not have invented the | :09:12. | :09:16. | |
genre, but it has caught on fast as old traditions are swamped by a | :09:17. | :09:22. | |
flood of new money. This photo shoot is costing Yy and Lamy dearly, but | :09:23. | :09:33. | |
with so many couples tying the knot, that soon adds up. The industry is | :09:34. | :09:38. | |
worth an estimated 80 billion US dollars. That is more than the total | :09:39. | :09:42. | |
output of some European economies, and includes all wedding spending. | :09:43. | :09:46. | |
Ceremonies, receptions, and honeymoons. For photographers who | :09:47. | :09:49. | |
want to hang onto their share of it, spotting the next new trend may | :09:50. | :09:56. | |
determine if they think or swim. Let's have a quick look at the | :09:57. | :09:59. | |
markets. Asian shares are taking their cues from the US, we saw | :10:00. | :10:04. | |
positive data there helping extend a rally, with the S 500 closing | :10:05. | :10:12. | |
strongly. US stocks are closed for Labour Day, so stocks here reacting | :10:13. | :10:18. | |
in a fairly subdued manner. We are seeing shares over in Japan, in a | :10:19. | :10:22. | |
fairly range bound trade, but Hong Kong, the Hang Seng has just opened | :10:23. | :10:27. | |
and in the last few minutes it has been falling after that index of | :10:28. | :10:31. | |
Chinese manufacturing data contracted. That is it for this | :10:32. | :10:36. | |
edition of Asia Business Report. Thank you for watching. The top | :10:37. | :10:42. | |
stories this hour: Pro`democracy groups in Hong Kong have reacted | :10:43. | :10:44. | |
angrily to | :10:45. | :10:45. |