:00:00. > :00:16.Now on BBC News all the latest business news live from Singapore.
:00:17. > :00:28.Indonesia's president cut s short his visit due to Indonesian haze but
:00:29. > :00:33.first talks with President Obama. How much does your restaurant note
:00:34. > :00:44.about you? Why big data could mean bigger profits. -- know. Good
:00:45. > :00:50.morning Asia, hello world, glad you could join us for this edition of
:00:51. > :00:53.Asia Business Report. The Indonesian President is cutting short his visit
:00:54. > :01:00.to the US because of worsening haze caused by fires at home. He has met
:01:01. > :01:04.President Barack Obama and says he intends to join the Trans-Pacific
:01:05. > :01:12.Partnership. Trade between Indonesia and the US was worth more than 27
:01:13. > :01:15.billion US dollars last year. Key priorities for President Widodo are
:01:16. > :01:22.foreign investment and generating more interest from the technology
:01:23. > :01:25.industry. I spoke more with an economist and asked whether
:01:26. > :01:32.protectionist factions might try to derail his plans of joining the TDP.
:01:33. > :01:36.I think there is, I think individual politicians will have different
:01:37. > :01:40.reactions -- TPP. It will be spun in various ways by parties opposed to
:01:41. > :01:47.him. I think this is a strong signal that he is trying to reverse the
:01:48. > :01:53.sense from the outside that there is a wave of economic nationalism. He
:01:54. > :02:00.brought with him a new Trade Minister, who is serious that the
:02:01. > :02:02.impression is eradicated. This free trade pact to the Indonesian
:02:03. > :02:09.economy, which is currently slowing down. It is very important. There is
:02:10. > :02:13.recognition that the economy is sputtering, and they need all steps
:02:14. > :02:18.in the right direction, they need foreign investment. This trip was
:02:19. > :02:24.very much about that. All right. You have Joko Widodo cutting his trip
:02:25. > :02:29.particularly to Silicon Valley, does this have an impact, especially now
:02:30. > :02:35.Indonesia wants to expand its technology-based? It is very
:02:36. > :02:40.unfortunate from the standpoint of both the significance of the trip to
:02:41. > :02:45.the Silicon Valley giants he was meeting with. Indeed, for him to see
:02:46. > :02:54.first-hand some of the things he would have seen. The valley could be
:02:55. > :02:57.a significant experience. And of course, Modi before him and Xi
:02:58. > :03:05.Jinping were just in Silicon Valley. It is unfortunate. It is a move to
:03:06. > :03:08.address a worsening situation. I think the creative and digital
:03:09. > :03:12.economy is a real and strong interest of his. I think those
:03:13. > :03:18.meetings will still go off impressively but without the
:03:19. > :03:27.president there will certainly be a lessening of the impact. If there is
:03:28. > :03:30.a dominant theme in markets it is the question of when the US Federal
:03:31. > :03:35.Reserve will raise interest rates. The central bank starts a meeting on
:03:36. > :03:38.Tuesday and uncertainty makes for a challenging investment climate for
:03:39. > :03:46.people like the global head of investment strategy at Aviva
:03:47. > :03:49.Investors, where he is responsible for managing $3 billion US. We asked
:03:50. > :03:55.him when he thought the Fed might make its move. We are sticking with
:03:56. > :03:59.the central case that they will go in December. One thing that has
:04:00. > :04:04.disappointed us is the Fed has become quite short term itself. If
:04:05. > :04:08.they were to remove uncertainty in the market, get it out of the way,
:04:09. > :04:12.and reassure the market that this won't be a dramatic tightening
:04:13. > :04:14.cycle, it won't be a rapid acceleration in rates, then the
:04:15. > :04:20.market will take great comfort from that. The stigma of the first move
:04:21. > :04:27.having been removed. When we see change, work will the reaction be in
:04:28. > :04:31.the region? -- what will. So long as the Fed can move early and from this
:04:32. > :04:35.point in time move at a steady pace, it is something that can be
:04:36. > :04:42.contained. We would expect the dollar to strengthen further. The
:04:43. > :04:46.big concern would be if the Fed left it too late, if the Fed sought
:04:47. > :04:49.traction in terms of wages in the economy, it would lead to concerns
:04:50. > :04:53.that they would have to move quite a lot faster, which is where you would
:04:54. > :04:58.see material downside risk for the Asia region -- saw. You obviously
:04:59. > :05:04.run a lot of money, but if you were advising your mum and dad, an
:05:05. > :05:11.average investor who looks every day at China and Japan, Europe and
:05:12. > :05:14.America, what would you advise them? Probably it is a time to be
:05:15. > :05:20.realistic about the return that is achievable. You see quite a lot of
:05:21. > :05:25.traditional funds being sold where in order to generate high return
:05:26. > :05:29.with lower bond yields, lower corporate credit spreads, that
:05:30. > :05:33.encourages people to go outside the risk curve, take more risk to
:05:34. > :05:38.achieve the same return. If you follow that approach, it means that
:05:39. > :05:42.when the market does correct from stretch valuations, people have the
:05:43. > :05:46.most risky portfolio at any point in the cycle. We don't think that is
:05:47. > :05:50.sensible. If you don't have the flexibility to take on more
:05:51. > :05:54.sophisticated ways of providing protection to the portfolio, be more
:05:55. > :05:57.realistic about the return you might achieve, rather than thinking the
:05:58. > :06:05.returns of the last five years are likely to be repeated. In other news
:06:06. > :06:09.making headlines, authorities in the UK say a 15-year-old boy has been
:06:10. > :06:16.arrested in connection with a cyber attack, which released the personal
:06:17. > :06:24.data of millions. The attack on telecoms company Talk Talk last week
:06:25. > :06:30.has wiped out $550 million US from the company's market value, in trade
:06:31. > :06:34.it fell 12%. Burger King fast food chain has opened its first outlet in
:06:35. > :06:37.Mongolia, joining companies Pizza Hut and Porsche anticipating
:06:38. > :06:42.economic boom in copper and gold mining. The large, sparsely
:06:43. > :06:47.populated country, landlocked between China and Russia, Mongolia
:06:48. > :06:56.still has no McDonald's or starve us. The Indian budget airline IndiGo
:06:57. > :07:04.launches today, looking to raise half $1 billion. According to the
:07:05. > :07:08.Consultancy Centre for Aviation, it is the only consistent profitable
:07:09. > :07:14.carrier over the last several years. In India, Maggi noodles is on
:07:15. > :07:17.shelves across the country. Indian food safety authorities banned the
:07:18. > :07:23.production in May and the sale of Maggi noodles after claims they
:07:24. > :07:27.contained dangerously high levels of lead, a band that was later
:07:28. > :07:34.overturned. 400 million packets were up destroyed -- were destroyed --
:07:35. > :07:38.banned. How to make restaurants profitable? One Australian company
:07:39. > :07:45.hopes the answer is to add big data. It is an app that gets detailed
:07:46. > :07:48.information on customers so restaurants can closely cater to
:07:49. > :07:55.their taste. Some people think a little more privacy ought to be on
:07:56. > :08:01.the menu. What does your restaurant know about you? From when we dined
:08:02. > :08:04.to what we like to drink, each decision we make is a piece of data
:08:05. > :08:12.that can be stored by restaurants for later use -- dine. Created in
:08:13. > :08:15.Sydney, this app links bookings, tills and reviews to create and
:08:16. > :08:20.store detailed profiles of customers. We've had restaurants
:08:21. > :08:25.change the menu they offer because they know that 20%, 30% of customers
:08:26. > :08:32.are vegetarian or can't have dairy, which is an example of how to use
:08:33. > :08:35.big data, customer feedback, in an automated way to help restaurants
:08:36. > :08:39.deliver a better experience for customers. The idea, according to
:08:40. > :08:44.Dimmi, is if restaurants understand who they are serving, they can
:08:45. > :08:51.improve experiences and improve sales. Do diners mind restaurants
:08:52. > :08:54.keeping tabs? It is another service jumping on the bandwagon in the
:08:55. > :09:00.digital age we are well into an progressing along. If I wanted
:09:01. > :09:05.something, I would ask for it. Not have it recorded and remembered on
:09:06. > :09:11.some file. I would rather someone remember my name, humanly remember
:09:12. > :09:19.what I ordered, and have the real connection, rather than checking
:09:20. > :09:25.data and making sure they upsold meet. Some restaurants like Mexico
:09:26. > :09:27.say that in an era of Facebook and Instagram, diners expect
:09:28. > :09:33.customisation, and having data on hand in a usable weight helps them
:09:34. > :09:36.tailor communication with customers. The information we are retaining is
:09:37. > :09:40.how often they dine with us and what kind of food they enjoy with us and
:09:41. > :09:46.we use that to completely enhance and optimise their experience. Some
:09:47. > :09:50.people think this type of data collection overstepped the
:09:51. > :09:55.boundaries of reasonable privacy. If it is required the restaurants
:09:56. > :09:59.reveal to people, have a sign saying staff are spying on you and we are
:10:00. > :10:03.keeping records on you, that is OK, isn't it, you might find a benefit
:10:04. > :10:06.for the restaurant for having a good relationship with customers is burnt
:10:07. > :10:11.up either lack of trust in this intrusion. Dimmi maintains
:10:12. > :10:15.information is securely stored on their servers and isn't shared with
:10:16. > :10:19.third parties. Using detailed customer profiles is the norm for
:10:20. > :10:28.industries like airlines and hotels, so it seems only a matter of
:10:29. > :10:32.time before restaurants follow suit. Thank you so much for interesting
:10:33. > :10:34.your time with us on Asia Business Report. I am Rico Hizon. Goodbye for
:10:35. > :10:42.now. The top stories this hour: Rescue
:10:43. > :10:46.workers in northern Pakistan