:00:00. > :00:17.last week. Now on BBC News, all the latest
:00:18. > :00:22.business news live from Singapore. Connecting the smartphone to a game
:00:23. > :00:26.console. We bring you the latest technology from a trade show in
:00:27. > :00:32.Berlin. Dependent on milk. How the rise and fall of global dairy prices
:00:33. > :00:40.are impacting the New Zealand economy.
:00:41. > :00:44.Thank you for joining us. Japan's Sony was one of the first
:00:45. > :00:50.technology companies to release a Bluetooth enabled notification
:00:51. > :00:56.transmitting watch back in 2006. These days, it is still trying to
:00:57. > :01:02.popularise the idea and has just released its latest smart watch at
:01:03. > :01:06.the technology show in Berlin. It is the first device to run on the new
:01:07. > :01:12.android wearable operating system and will compete with devices from
:01:13. > :01:16.Samsung among others. The Sony chief executive has acknowledged the
:01:17. > :01:21.limitations of the current generation of watches, recognising
:01:22. > :01:29.they are not powerful enough to replace the smartphone. From my
:01:30. > :01:32.perspective, I think that the user experience that will be generally
:01:33. > :01:37.accepted is a combination of eight wearable device together with what I
:01:38. > :01:41.would call the mothership. Whether that is a smartphone or not is a
:01:42. > :01:46.different story but I think that to try and incorporate everything into
:01:47. > :01:51.a wearable device by it self, again, looking at battery life, that is
:01:52. > :01:55.another limitation. Unless there are revolutionary advancements in
:01:56. > :01:58.technology, you will have to have a larger device with a larger battery
:01:59. > :02:03.that is going to do the bulk of the computing, the bulk of the
:02:04. > :02:09.communication, perhaps. I think it will be a combination. And,
:02:10. > :02:13.obviously, as technology moves on, we will be offloading a lot of the
:02:14. > :02:17.music onto the smart watch screen so that you won't need the smartphone
:02:18. > :02:22.when you go jogging. But still, the music is relayed. The library still
:02:23. > :02:26.resides in the smartphone. Eventually, we will be able to
:02:27. > :02:31.shrink a computer to something as small as your fingernail. It strikes
:02:32. > :02:36.me that then, the smart watch will be redundant because it will be
:02:37. > :02:39.bigger than you need. I think that is an evolution we will see just as
:02:40. > :02:44.we saw in an evolution from what we used to call feature phones. Feature
:02:45. > :02:49.phones to smartphones and now combinations between smartphones and
:02:50. > :02:57.wearables. And as technology moves on, we might go from wearables to
:02:58. > :03:02.something that is beyond that. It is an evolutionary says we will see
:03:03. > :03:06.over years. Let's talk about the new PlayStation remote play. This is a
:03:07. > :03:11.controller that you connect a phone to and you can stream a PlayStation
:03:12. > :03:16.game to your screen. It must be eight Sony phone, is that correct?
:03:17. > :03:22.For the time being, it has to be an exterior smartphone. Are there any
:03:23. > :03:28.plans to expand this to the Nexus smartphone? We want to make this an
:03:29. > :03:33.experience exclusive to Sony smartphones. It is part of the one
:03:34. > :03:37.Sony philosophy we have, where we are leveraging other businesses to
:03:38. > :03:40.bring an exciting experience to the customers. At some point in the
:03:41. > :03:48.future, we may look at X and in that, but we do not have any plans
:03:49. > :03:52.for such an announcement right now `` look at expanding that. And for
:03:53. > :04:00.more information, you can visit our website. Philips, Samsung and others
:04:01. > :04:04.have been fined a total of more than $180 million by the European
:04:05. > :04:08.Commission for fixing prices of chips used in smartphones. The
:04:09. > :04:16.electronic giants were found guilty of colluding on prices, contracts
:04:17. > :04:23.and capacity between 2003 and 2005. Phillips has rejected the charge.
:04:24. > :04:29.Samsung has not made any comment. Meanwhile, a joint venture between
:04:30. > :04:36.Hitachi and Mitsubishi avoided a fine for revealing the existence of
:04:37. > :04:40.the cartel. Between stolen nude celebrity pictures, payment fraud
:04:41. > :04:46.and hacker attacks, cybersecurity is something that concerns an
:04:47. > :04:51.increasing number of April. `` increasing number of people. Can
:04:52. > :04:55.security companies learn anything from the spy agencies? One person
:04:56. > :05:04.who knows is the former chief officer for the CIA. He now works in
:05:05. > :05:09.the private sector and is in town for a cybersecurity conference. I
:05:10. > :05:17.asked him earlier what the key would be to keeping things safe in the
:05:18. > :05:21.cyber world. It is all about your data and you have to classify it
:05:22. > :05:24.into different categories. Some of your data is absolutely vital to
:05:25. > :05:29.your corporation or your government agency, whatever you happen to be.
:05:30. > :05:37.That data has to be protected very differently to the rest of your
:05:38. > :05:45.data. How safe and secure is the Cloud? It depends on how it is
:05:46. > :05:50.implement it. There is not one cloud provider that is any more secure
:05:51. > :05:54.than another. The important thing is that the consumer of the cloud,
:05:55. > :05:59.whether it is a country, a bank, individual people or whatever, they
:06:00. > :06:03.have to take measures to protect their individual data as they put it
:06:04. > :06:08.in the cloud. Encryption becomes vital and with encryption comes key
:06:09. > :06:12.management. You have to have a robust key management system and you
:06:13. > :06:17.have to make sure that you have the keys in your own Corporation, rather
:06:18. > :06:22.than giving the keys to the cloud. What are your concerns about
:06:23. > :06:26.cybersecurity going forward? It is a never ending issue. It is not like
:06:27. > :06:31.you can do ten things and be finished forever. There will always
:06:32. > :06:35.be people circumventing the back stops that people put in place from
:06:36. > :06:44.a security standpoint. Competing power increases daily, so very poor
:06:45. > :06:49.encryption algorithms get broken easily. For individual users like
:06:50. > :06:55.you and me, what should we be aware of? That there are people out there
:06:56. > :06:58.who want to steal your data and who will do most anything they can to be
:06:59. > :07:04.able to do that so they can exploit your identity or your friends or use
:07:05. > :07:10.your purchasing power and things like that. Fuel economies are as
:07:11. > :07:14.dependent on milk, cheese and butter as New Zealand's and that could be
:07:15. > :07:20.bad news because dairy prices fell 6% in August. In fact, they are now
:07:21. > :07:24.40% lower than they were at the same time last year. Global prices have
:07:25. > :07:29.been falling since February and now sits near two year low levels. This
:07:30. > :07:36.decline is impacting the New Zealand economy. When dairy Council nearly
:07:37. > :07:41.one third of experts `` exports, spilt milk might be cause for a few
:07:42. > :07:46.tears. New Zealand has roughly as many cows as people and its exports
:07:47. > :07:51.nearly 90% of its dairy products. When prices slump, it is bad news.
:07:52. > :07:56.If low prices persist, the money that the country's dairy cooperative
:07:57. > :08:00.Fonterra returns to its members could be lower and that takes money
:08:01. > :08:05.straight out of the economy. Russian sanctions are partly to blame. They
:08:06. > :08:09.have begun to affect the global supply and that has had a knock`on
:08:10. > :08:13.effect even on the far side of the world. In particular, skimmed milk
:08:14. > :08:18.powder has dropped in price by more than 25% since sanctions were
:08:19. > :08:23.announced. Even though beef and aluminium prices partially offset
:08:24. > :08:30.the slump in dairy prices, the ANZ Bank's commodity price index fell by
:08:31. > :08:35.3.3% month on month in August. Prices for New Zealand's exports now
:08:36. > :08:41.sit at a 17 year low `` 17 month low. Asia has a growing economy and
:08:42. > :08:49.is trying to foster an investor friendly environment. How is
:08:50. > :08:53.Singapore doing? The city's investment body wants to attract 100
:08:54. > :08:58.major multinational companies to set up shop in the capital and they have
:08:59. > :09:04.met 40% of that target. Earlier, I spoke with the chief executive of
:09:05. > :09:08.the investment body, who explained more about the organisation.
:09:09. > :09:14.Attracting regional headquarters to Kuala Lumpur is very important
:09:15. > :09:18.because it is at the heart of economic activity in the region.
:09:19. > :09:23.When these multinational companies invest in Kuala Lumpur and in other
:09:24. > :09:27.cities around the region, is it a level playing field? Or are
:09:28. > :09:29.multinational is only allowed to open businesses that will not
:09:30. > :09:36.compete directly with Malaysian conglomerates? The multinationals
:09:37. > :09:40.are very good with engaging with the whole ecosystem. They do
:09:41. > :09:44.partnerships with local companies as they set up their regional
:09:45. > :09:48.headquarters. They do partnerships with our universities, for example.
:09:49. > :09:53.And they take advantage of our ecosystem as they set up their
:09:54. > :09:56.headquarters in Kuala Lumpur. You have business Finance, oil and gas
:09:57. > :10:02.companies setting up their regional hubs in Malaysia. Any particular
:10:03. > :10:08.sectors or skill sets the government is looking to bring in but has not
:10:09. > :10:10.had much success with? We are moving up the value chain. These
:10:11. > :10:15.initiatives create more high`value jobs, so we are constantly building
:10:16. > :10:21.the talent pool. The engineering space, the technology sector, the
:10:22. > :10:25.finance sector. We already have a large talent pool anyway, so this is
:10:26. > :10:30.a constant initiative from our government to build on that. Thank
:10:31. > :10:45.you. Thank you for investing more time with us. Goodbye for now.
:10:46. > :10:51.This is BBC News. Paying tribute to Steven Sotloff. The family of the
:10:52. > :10:52.journalist killed by militants from Islamic State say he was no hero and