:00:00. > :00:00.minister 's questions in the Commons. They will be visiting
:00:00. > :00:00.Scotland to campaign against independence.
:00:00. > :00:19.Time for the latest business news from Singapore.
:00:20. > :00:24.Apple launches its first new product lines since the iPad and the death
:00:25. > :00:31.of Steve jobs. But is it innovative enough?
:00:32. > :00:34.And we take you to a Chinese city where business leaders are gathering
:00:35. > :00:42.for the start of this year's World Economic Forum.
:00:43. > :00:48.Thank you for joining us for this addition of Asia Business Report.
:00:49. > :00:51.There is certainly a bit of a buzz around Apple this morning as it
:00:52. > :00:59.unveiled its first new product lines since the death of its co`founder
:01:00. > :01:09.Steven jobs. There was near his stereo during the launch of its much
:01:10. > :01:20.anticipated smart watch. They also unveiled the iPhone sex and the ``
:01:21. > :01:26.iPhone sex and the Apple Pay system. It is expected to be a massive boom
:01:27. > :01:36.for the company. We look at one company hoping to
:01:37. > :01:38.cash in. This company is among many Taiwanese firms expected to make
:01:39. > :01:43.billions of dollars from the sales of the iPhone.
:01:44. > :01:52.This building is one of three with the capability of making microchip
:01:53. > :01:59.processors for the smartphones. This was after Apple dropped its former
:02:00. > :02:08.supplier after fears that Samsung would steal designs. Taiwanese
:02:09. > :02:12.suppliers will make $80 to as much as $150 for each iPhone sold. That
:02:13. > :02:18.is the biggest portion of all components. Demand for the new
:02:19. > :02:27.iPhone is also expected to boost Taiwan's exports by 2% in the coming
:02:28. > :02:31.months. And its GDP by nearly 0.5%. Investment banks and the government
:02:32. > :02:39.raised projections for Taiwan's GDP growth. But the benefits of the new
:02:40. > :02:45.iPhone could be short lived. Some of Apple's suppliers are under scrutiny
:02:46. > :02:51.due to wages and working conditions. And there are concerns that exports
:02:52. > :03:01.could revert to go growth after the launch is over.
:03:02. > :03:07.The watch and wearables market is fiercely competitive. Many companies
:03:08. > :03:13.are making a head start on Apple. We look at whether the watch is likely
:03:14. > :03:17.to win over consumers. This is one of the most anticipated
:03:18. > :03:26.and hyped Apple events of recent years. There were a lot of products
:03:27. > :03:34.on bail. `` products unveiled. We had two new iPhones with bigger
:03:35. > :03:39.screens. It unveiled a new payment system where you can pay with your
:03:40. > :03:44.mobile phone in a shop or online. Most of the attention was on the new
:03:45. > :03:51.Apple watch. A whole new category, wearable technology. Normally it is
:03:52. > :03:58.dominated by geeks. But they invited the world of fashion along. With me
:03:59. > :04:05.is someone from cosmopolitan. What did you think? Were you impressed? I
:04:06. > :04:10.was. It is a whole new category. It is exciting. The way it looks and
:04:11. > :04:16.the usability makes it very exciting. They seem to have thought
:04:17. > :04:26.carefully about how people will use the watch. The way it will be used
:04:27. > :04:33.they `` day to day, it will take off. There are already smart
:04:34. > :04:41.watches. Have you taken any interest in them before? I think because it
:04:42. > :04:45.is the Apple event, it is an Apple product, it comes with that extra
:04:46. > :04:51.bit of hype. It is good to see what is new. The care they have taken
:04:52. > :04:59.over the design does make it different to competitors. Is the
:05:00. > :05:05.fashion world getting closer to the technology world? I think this could
:05:06. > :05:11.mark a step which means they become closer. The products are so
:05:12. > :05:15.appealing to women. You can see from the demonstration, they had to be
:05:16. > :05:22.designs, the watch straps that appeal to men and others
:05:23. > :05:24.specifically meant for women. When you start making technology
:05:25. > :05:29.wearable, that is when it crosses over into fashion. If it becomes a
:05:30. > :05:36.widespread then, we could see more product.
:05:37. > :05:41.There is a lot of competition out there. There are other watchers.
:05:42. > :05:48.Apple is betting it can make a difference as it did with phones. We
:05:49. > :05:52.will have to see if it takes off. It is not just consumers, but rivals
:05:53. > :06:01.as well that Apple has to content with. I asked how the technology
:06:02. > :06:07.giant will compete. So far, Apple and Samsung have managed to stay
:06:08. > :06:10.afloat. They are the only two companies in this fast changing
:06:11. > :06:15.mobile world that have continued to prosper. They are both coming under
:06:16. > :06:23.pressure from a lot of fast rising Chinese companies. Apple has still
:06:24. > :06:30.got extraordinary margins. That has protected its brand. People are
:06:31. > :06:37.willing to pay extraordinary prices for that to some are much the same
:06:38. > :06:45.as those much cheaper product. Will it continue to do that? Not only
:06:46. > :06:52.have we seen a watch unveiled, we have seen two versions of the
:06:53. > :06:58.iPhone. It has managed to keep this company's margins up. That iPhone
:06:59. > :07:03.has been the real driver of profit growth for Apple. For more on
:07:04. > :07:08.Apple's launch and analysis of what it will mean or the company and
:07:09. > :07:17.technology sector, log onto BBC website.
:07:18. > :07:24.Taiwan has fined a leading supplier of cooking oil more than $1.6
:07:25. > :07:28.million for sparking a food scare. Investigators found that some of its
:07:29. > :07:32.produce had been collected from cookers, Friars and grease traps and
:07:33. > :07:43.an extended with large boil for sale to its customers across Taiwan.
:07:44. > :07:58.A Japanese e`commerce retailer is buying eBay for $1 billion. `` and
:07:59. > :08:03.American retailer. It will be the third strike by
:08:04. > :08:07.pilots from the German carrier in two weeks. They are trying to raise
:08:08. > :08:12.pressure over negotiations for an early retirement scheme.
:08:13. > :08:18.Hundreds of business leaders are gathering in China for the annual
:08:19. > :08:29.World Economic Forum, also known as the summer Davos. It is one of the
:08:30. > :08:34.world's fastest growing cities. I am in a thriving, heaving
:08:35. > :08:37.metropolis that is rapidly spreading into the surrounding landscape. This
:08:38. > :08:41.city has had double`digit growth since 2004. All around me there is
:08:42. > :08:50.no shortage of office towers and retail development. But it is also a
:08:51. > :08:57.microcosm of all the challenges that face China today. It starts right
:08:58. > :09:03.here in the heart of the city. We have got old, historical buildings
:09:04. > :09:07.from the city's colonial past. It is higgledy`piggledy and indicative of
:09:08. > :09:10.how the country's development has been going at breakneck speed are
:09:11. > :09:16.not always with the central planning that China is so well known for.
:09:17. > :09:21.About an hour's dry from the city centre, you have got the port. You
:09:22. > :09:26.can almost take the pulse of the country's economy by watching what
:09:27. > :09:29.goes on here. A lot of the iron ore that China brings in his unloaded at
:09:30. > :09:35.this port stock it goes into steel to make a lot of things, including
:09:36. > :09:42.apartment blocks. Right now the benchmark price is down to five year
:09:43. > :09:49.lows. There are increasing concerns about the health of China's property
:09:50. > :09:51.sector. Rows of yet to be finished apartment blocks testamentary once
:09:52. > :09:59.confident real estate sector in China. Economists are worried about
:10:00. > :10:04.the impact of the property downturn on the broader economy. Nobody
:10:05. > :10:08.underestimates the challenges facing China as it tries to turn its
:10:09. > :10:13.economy away from one fuelled by investment products at this one to
:10:14. > :10:18.one fuelled by domestic consumption. But as the economic Forum gathers
:10:19. > :10:27.speakers, the difficulties facing China are clear for all to see.
:10:28. > :10:33.In the markets, losses for Asian stocks mid`morning trade after
:10:34. > :10:42.concerns that the Federal reserve could raise interest rates sooner
:10:43. > :10:46.rather than later. Apple shares also declined as investors were left
:10:47. > :10:50.unimpressed by the latest batch of product announcements.
:10:51. > :11:01.Thank you for investing your time with us. Goodbye for now.
:11:02. > :11:05.Here are the headlines: President Obama has made it clear to US
:11:06. > :11:08.congressional leaders he has the authority already to carry out a
:11:09. > :11:12.broader military campaign against Islamic State in Iraq and Syria.
:11:13. > :11:13.India and Pakistan are struggling to