:00:00. > :00:00.undecided Labour voters ahead of the referendum on Scottish independence.
:00:00. > :00:19.Now, all the latest business news from Singapore. Asia Business
:00:20. > :00:22.Report. Nuclear diplomacy. Australia's Prime Minister is due to
:00:23. > :00:29.sign a long`awaited uranium deal with India. Keeping up with the
:00:30. > :00:38.times. Traditional clock and watch are struggling to compete with new,
:00:39. > :00:46.hi`tech gadgets. Thank you for joining us. Australian Prime
:00:47. > :00:50.Minister Tony Abbott is in India today, looking to strengthen
:00:51. > :00:54.economic ties with the new leader, Narendra Modi. They are expected to
:00:55. > :00:58.sign a deal that will allow Australian nuclear fuel exports to
:00:59. > :01:02.India, which lifted its ban on uranium sales to years ago. What
:01:03. > :01:11.will it mean to Australian companies in the uranium business? This is a
:01:12. > :01:14.great deal for Australia in the sense that it opens up market access
:01:15. > :01:23.to what will ultimately be a large market. Over the next five, ten, 15
:01:24. > :01:28.years, as India rolls out its financial nuclear programme, this
:01:29. > :01:34.will be a good thing for our industry. Isn't that to long`term?
:01:35. > :01:40.Ten, 15 years before shipping uranium to India? There will be
:01:41. > :01:45.shipments leading up to that period but the big build`up will start the
:01:46. > :01:52.next five years. It is our responsibility to get our production
:01:53. > :01:56.organised and ready for that demand. How important is India as a market
:01:57. > :02:02.for Australian uranium? Very important. We already have a
:02:03. > :02:06.bilateral agreement with China. Once we have a bilateral agreement in
:02:07. > :02:10.place with China, one third of the world's people... They will be two
:02:11. > :02:14.of the largest growing energy markets in the world and nuclear
:02:15. > :02:18.energy will be an important component of that for them. Both of
:02:19. > :02:22.those companies have high populations and they have air
:02:23. > :02:28.quality issues. Nuclear energy with zero emissions is a very compelling
:02:29. > :02:32.value proposition in the energy mix. It is like a good scenario for both
:02:33. > :02:39.Australia and India, but what could be the downside of this deal? I
:02:40. > :02:44.don't see any downside. 400 million people in India have no
:02:45. > :02:49.electricity. They will be looking to roll out that electricity for the
:02:50. > :02:55.population and we are in the business of helping them supply the
:02:56. > :03:00.floor for that. Staying in India, one out of every four women work.
:03:01. > :03:05.That is lower than in other developing countries like Indonesia,
:03:06. > :03:14.Brazil, Nigeria and Russia. A small percentage rise in top companies in
:03:15. > :03:22.sectors with large female workforces in the country... What is holding
:03:23. > :03:28.Indian women back? We have to redefine the way we score our
:03:29. > :03:35.Brownie points for ourselves. If a man goes out, he goes to work, you
:03:36. > :03:38.give him a Brownie point, he is not tired and he has not gone out with
:03:39. > :03:43.his friends, you give him a Brownie point. He comes home and he says he
:03:44. > :03:47.does not mind cleaning his own plate and you give him a Brownie point.
:03:48. > :03:52.What happens to women? Women go out and she has left her children. She
:03:53. > :03:57.has a negative point. She comes home late from work and she gets another
:03:58. > :04:02.negative point. The husband takes his own plate and you get another
:04:03. > :04:06.negative point. The same set of circumstances but the scoring system
:04:07. > :04:13.is so different in the minds of most people that the women feel guilty
:04:14. > :04:20.automatically. Tune in for that full discussion on BBC News. The European
:04:21. > :04:31.Central Bank has surprised investors, unexpectedly cutting the
:04:32. > :04:39.cost of borrowing. Mario Draghi said that the European Central Bank would
:04:40. > :04:44.lower the key rate to 0.05%. It has also promised to start buying bonds
:04:45. > :04:47.and loans next month in order to support the European economy. A
:04:48. > :04:52.federal judge has ruled that the peak acted with gross negligence in
:04:53. > :04:55.causing the biggest offshore oil spill and environmental disaster in
:04:56. > :04:58.US history. The long`awaited decision may force the energy
:04:59. > :05:03.company to pay $18 billion more for the 2010 disaster. They have already
:05:04. > :05:08.paid more than $42 billion in charges. 11 people were killed in
:05:09. > :05:14.the explosion, which caused oil to school for almost three months into
:05:15. > :05:24.the Gulf of Mexico. `` oil to spill. Singapore moved from a third
:05:25. > :05:27.World country status to a first world country status in just 25
:05:28. > :05:34.years. Is that possible anywhere else? According to analysts, the
:05:35. > :05:39.road taken by Singapore is a way of transforming a nation that can also
:05:40. > :05:42.help eradicate poverty, running the country in the same way that he
:05:43. > :05:48.would run a business. I recently asked if any other Asian countries
:05:49. > :05:54.had followed a similar strategy. If you think about the 1978 visit of
:05:55. > :05:58.Den Xiaoping from China, he came to Singapore and realised that
:05:59. > :06:05.immigrants from his country were doing so well. He went back to
:06:06. > :06:10.replicate the Singapore model in coastal cities and look at what
:06:11. > :06:18.happened with the transformation in those cities. What will this mean,
:06:19. > :06:22.basically, for economic growth in the nation? The reality is that poor
:06:23. > :06:28.people don't have to stay poor. They need jobs to get income and then to
:06:29. > :06:30.get the better quality of life. To get jobs, you need more
:06:31. > :06:36.entrepreneurial ship and business models. What we want to do is train
:06:37. > :06:43.people to have the capacity to build their own lives. One day, the poor
:06:44. > :06:47.have to earn enough to pay taxes so the government can give them vital
:06:48. > :06:51.services. You have mentioned China. Which other countries in the region
:06:52. > :07:00.have been able to successfully implement this model? Korea is the
:07:01. > :07:07.same. They got out of poverty through business. Switzerland 150
:07:08. > :07:10.years ago was a very poor country. And then they developed watches and
:07:11. > :07:15.private banking and eventually became one of the richest countries
:07:16. > :07:19.in the world. Which other countries in Asia have the potential of being
:07:20. > :07:21.able to implement and succeed with this model? All Asian countries are
:07:22. > :07:28.largely entrepreneurial by DNA. If you look at the Philippines,
:07:29. > :07:36.Indonesia, Vietnam, India, very hard`working people. They love
:07:37. > :07:43.to do business. What you have to do is
:07:44. > :07:43.help themselves. You cannot give a person a fish.
:07:44. > :07:51.them to fish, revolutionising the fishing industry and make sure that
:07:52. > :07:56.everything is connected into an ecosystem that can produce a big
:07:57. > :08:00.impact. If you need to know what time it is, these days, there is a
:08:01. > :08:06.good chance you will look in your pocket instead of at your wrist.
:08:07. > :08:10.Mobile phones have made wearing a watch strictly optional. Even though
:08:11. > :08:15.the times do not seem to suit watchmakers, some have still managed
:08:16. > :08:21.to prosper. We visited the Hong Kong Watch And Clock Fair to see how they
:08:22. > :08:26.are dealing with the changes. I am one of the 4.5 billion people in the
:08:27. > :08:31.world who own a mobile phone. This device allows me to travel
:08:32. > :08:39.incredibly light. I no longer have to wear a watch and have not done so
:08:40. > :08:42.for years. Here at the biggest industry event in the world, the
:08:43. > :08:50.impact of mobile phones on the watch industry is being hotly debated. One
:08:51. > :08:52.survey shows nearly three out of five people in America under the age
:08:53. > :08:57.of 35 years their phone as their main timepiece. Kenneth used to make
:08:58. > :09:05.basic models for retailers like Walmart but has stopped doing so.
:09:06. > :09:09.Those were retailing below $10. What you would find in drugstores or
:09:10. > :09:13.discount stores. They were not needed any more. People can rely on
:09:14. > :09:18.their phones to tell the time. For those types of watches, we do not
:09:19. > :09:23.see a market. That does not mean that digital watches have been wiped
:09:24. > :09:29.out. He now focuses on fashion conscious designs that sell for $125
:09:30. > :09:34.each. The sector as a whole is still growing. Globally, it was worth $48
:09:35. > :09:41.billion in 2008 and expanded by 5% over five years. By 2013, it was
:09:42. > :09:47.worth $62 billion and is expected to grow by just under 6%. This industry
:09:48. > :10:00.veteran says watches that have smartphone capabilities are one of
:10:01. > :10:02.the most promising new areas. With the new 2K generation coming into
:10:03. > :10:06.buying power, Smart watch technology will be a good thing to buy into for
:10:07. > :10:10.the consumer sector that our industry can work into and build on
:10:11. > :10:15.all stop other companies focus on luxury. This model by a Chinese
:10:16. > :10:21.maker boasts of skilled craftsmanship and costs $20,000. To
:10:22. > :10:27.some extent, mobile phones have indeed replaced watches as tools for
:10:28. > :10:31.telling time. But with an emphasis on style and technology, some
:10:32. > :10:38.watchmakers have managed to survive and sometimes even thrive. Thank you
:10:39. > :10:50.for investing your time with us. Goodbye for now.
:10:51. > :10:55.This is BBC News. The headlines: Nato leaders have warned the Ukraine
:10:56. > :10:59.crisis and Islamist extremism poses dramatic new threats to world
:11:00. > :11:02.security. The Ukrainian president says he hopes a ceasefire with
:11:03. > :11:06.pro`Russian rebels can be signed on Friday. After the horse meat scandal
:11:07. > :11:07.last