:00:00. > :00:00.82`year`old pensioner. He remains under police guard in hospital. The
:00:00. > :00:11.woman was found dead outside her house in Edmonton. Police used a
:00:12. > :00:15.stun gun to disarm the suspect. Now on BBC News all the latest
:00:16. > :00:18.business news live from Singapore. Nuclear diplomacy ` Australia's
:00:19. > :00:23.Prime Minister is due to sign a long`awaited uranium deal with
:00:24. > :00:26.India. Keeping up with the times `
:00:27. > :00:33.traditional clock and watches are struggling to compete with new,
:00:34. > :00:40.hi`tech gadgets. `` clock and watch makers.
:00:41. > :00:43.Thank you for joining us. Australian Prime Minister Tony
:00:44. > :00:48.Abbott is in India today, looking to strengthen economic ties with the
:00:49. > :00:51.new leader, Narendra Modi. They are expected to sign a deal that will
:00:52. > :00:55.allow Australian nuclear fuel exports to India. Australia lifted
:00:56. > :01:05.its ban on uranium sales two years ago. What will it mean to Australian
:01:06. > :01:09.companies in the uranium business? This is a great deal for Australia
:01:10. > :01:16.in the sense that it opens up market access to what will ultimately be a
:01:17. > :01:21.large market. In the short term, probably not too much. Maybe some
:01:22. > :01:24.trial shipments. Over the next five, ten, 15 years, as India rolls out
:01:25. > :01:26.its financial nuclear programme, this will be a good thing for our
:01:27. > :01:29.industry. Isn't that too long`term? Ten, 15
:01:30. > :01:32.years before shipping uranium to India?
:01:33. > :01:43.There will be shipments leading up to that period but the big build`up
:01:44. > :01:45.will start the next five years. It is our responsibility to get our
:01:46. > :01:48.production organised and ready for that demand.
:01:49. > :01:51.How important is India as a market for Australian uranium?
:01:52. > :02:03.Very important. We already have a bilateral agreement with China. Once
:02:04. > :02:06.we have a bilateral agreement in place with India, one third of the
:02:07. > :02:09.world's people... They will be two of the largest growing energy
:02:10. > :02:13.markets in the world and nuclear energy will be an important
:02:14. > :02:15.component of that for them. Both of those companies have high
:02:16. > :02:18.populations and they have air quality issues. Nuclear energy with
:02:19. > :02:27.zero emissions is a very compelling value proposition in the energy mix.
:02:28. > :02:30.It sounds like a good scenario for both Australia and India, but what
:02:31. > :02:33.could be the downside of this deal? I don't see any downside. 400
:02:34. > :02:46.million people in India have no electricity. They will be looking to
:02:47. > :02:49.roll out that electricity for the population and we are in the
:02:50. > :03:00.business of helping them supply the fuel for that.
:03:01. > :03:06.Staying in India, only one out of every four women work.
:03:07. > :03:25.That is lower than in other developing countries like Indonesia,
:03:26. > :03:28.Brazil, Nigeria and Russia. Only a small percentage rise to the top in
:03:29. > :03:32.companies in sectors with large female workforces in the country...
:03:33. > :03:36.What is holding Indian women back? We have to redefine the way we score
:03:37. > :03:48.our brownie points for ourselves. If a man goes out, he goes to work, you
:03:49. > :03:51.give him a brownie point. He is not tired. He has not gone out with his
:03:52. > :03:55.friends, you give him a brownie point. He comes home and he says he
:03:56. > :03:59.does not mind cleaning his own plate and you give him a brownie point.
:04:00. > :04:02.What happens to women? A woman goes out and she has left her children.
:04:03. > :04:05.She has a negative point. She comes home late from work and she gets
:04:06. > :04:09.another negative point. The husband takes his own plate and you get
:04:10. > :04:12.another negative point. The same set of circumstances but the scoring
:04:13. > :04:20.system is so different in the minds of most people that the women feel
:04:21. > :04:22.guilty automatically. The European Central Bank has
:04:23. > :04:31.surprised investors, unexpectedly cutting the cost of borrowing. Mario
:04:32. > :04:38.Draghi said that the European Central Bank would lower the key
:04:39. > :04:41.rate to 0.05% from 0.15%. He has also promised to start buying bonds
:04:42. > :04:44.and loans next month in order to support the European economy. A
:04:45. > :04:47.federal judge has ruled that BP acted with gross negligence in
:04:48. > :04:58.causing the biggest offshore oil spill and
:04:59. > :05:00.billion in charges. 11 people were killed in the explosion, which
:05:01. > :05:13.caused oil to spill for almost three months into the Gulf of Mexico.
:05:14. > :05:15.Singapore moved up from a third`world country status to a
:05:16. > :05:22.first`world country status in just 25 years. Is that possible anywhere
:05:23. > :05:26.else? According to BOP model analysts, the road taken by
:05:27. > :05:29.Singapore is a way of transforming a nation that can also help eradicate
:05:30. > :05:33.poverty ` running the country in the same way that you would run a
:05:34. > :05:41.business. I recently asked if any other Asian countries had
:05:42. > :05:43.similar strategy. If you think about the 1978 visit of
:05:44. > :05:47.Den Xiaoping from China, he came Singapore and realised that
:05:48. > :05:53.immigrants from his country were doing so well. He went back to
:05:54. > :05:56.replicate the Singapore model in coastal cities and look at what
:05:57. > :06:07.happened with the transformation in those cities. What will this mean,
:06:08. > :06:12.basically, for economic growth The reality is that poor people
:06:13. > :06:16.don't have to stay poor. They need jobs to get income and then to get
:06:17. > :06:22.the better quality of life. To get jobs, you need more entrepreneurship
:06:23. > :06:24.and business models. What we want to do is train people to have the
:06:25. > :06:28.capacity to build their own lives, so that one day, the poor earn
:06:29. > :06:34.enough to pay taxes so the government can give them vital
:06:35. > :06:37.services. You have mentioned China. Which
:06:38. > :06:46.other countries in the region have been able to successfully implement
:06:47. > :06:47.this model? Korea is the same. They got out of
:06:48. > :06:56.poverty through business. Switzerland 150 years ago was a very
:06:57. > :06:59.poor country. And then they developed watches and private
:07:00. > :07:03.banking and eventually became one of the richest countries in the world.
:07:04. > :07:06.Which other countries in Asia have the potential of being able to
:07:07. > :07:11.implement and succeed with this model?
:07:12. > :07:13.All Asian countries are largely entrepreneurial by DNA. If you look
:07:14. > :07:23.at the Philippines, Indonesia, Vietnam, India, these are very
:07:24. > :07:25.hard`working people. They love to do business. What you have to do is
:07:26. > :07:35.facilitate them and help them to help themselves. You cannot give a
:07:36. > :07:38.person a fish. You have to teach them to fish, revolutionise the
:07:39. > :07:41.fishing industry and make sure that everything is connected into an
:07:42. > :07:52.ecosystem that can produce a big impact.
:07:53. > :07:59.Mobile phones have made wearing a watch strictly optional. Even though
:08:00. > :08:02.the times do not seem to suit watchmakers, some have still managed
:08:03. > :08:06.to prosper. We visited the Hong Kong Watch and Clock Fair to see how they
:08:07. > :08:10.are dealing with the changes. I am one of the 4.5 billion people
:08:11. > :08:15.in the world who own a mobile phone. This device allows me to travel
:08:16. > :08:19.incredibly light. I no longer have to wear a watch and have not done so
:08:20. > :08:22.for years. Here at the Hong Kong Watch and Clock Fair, the biggest
:08:23. > :08:29.industry event in the world, the impact of mobile phones on the watch
:08:30. > :08:32.industry is being hotly debated. One survey shows nearly three out of
:08:33. > :08:44.five people in America under the age of 35 use their phone as their main
:08:45. > :08:47.timepiece. Kenneth Wong used to make basic models for retailers like
:08:48. > :08:50.Walmart but has stopped doing so. Those were retailing below $10. What
:08:51. > :09:01.you would find in drugstores or discount stores.
:09:02. > :09:05.They were not needed any more. People can rely on their phones to
:09:06. > :09:08.tell the time. For those types of watches, we do not see a market.
:09:09. > :09:11.That does not mean that digital watches have been wiped out.
:09:12. > :09:14.He now focuses on fashion conscious designs that sell for $125 each. The
:09:15. > :09:18.sector as a whole is still growing. Globally, it was worth $48 billion
:09:19. > :09:25.in 2008 and expanded by 5% over five years. By 2013, it was worth $62
:09:26. > :09:30.billion and is expected to grow by just under 6%.
:09:31. > :09:32.This industry veteran says watches that have smartphone capabilities
:09:33. > :09:41.are one of the most promising new areas.
:09:42. > :09:44.With the new 2K generation coming into buying power, smartwatch
:09:45. > :09:53.technology will be a good thing to buy into for the consumer that our
:09:54. > :09:56.industry can work into and build on. Other companies focus on luxury.
:09:57. > :10:03.This model by a Chinese maker boasts of skilled craftsmanship and costs
:10:04. > :10:06.$20,000. To some extent, mobile phones have
:10:07. > :10:12.indeed replaced watches as tools for telling time. But with an emphasis
:10:13. > :10:25.on style and technology, some watchmakers have managed to survive
:10:26. > :10:30.and sometimes even thrive. For more on this and other stories, you can
:10:31. > :10:41.visit our website. Thank you for joining us. And by for now.
:10:42. > :10:43.The top stories this hour: Nato leaders have warned the Ukraine
:10:44. > :10:48.crisis and Islamic extremism pose dramatic new threats to world
:10:49. > :10:50.security. Ukraine's president has said he
:10:51. > :10:59.hopes a ceasefire with pro`Russian rebels can be signed on Friday.
:11:00. > :11:01.After the horsemeat scandal last year, a new report says gangs have
:11:02. > :11:02.found a