:00:00. > :00:16.Now on BBC News all the latest business news live from Singapore.
:00:17. > :00:29.IPhones, my pads and high profits, Apple releases upbeat projections
:00:30. > :00:41.for the year. And, one man who turned a passion for reusing and
:00:42. > :00:50.recycling into a business. -- iPads. The world's largest tech giant,
:00:51. > :00:57.Apple, is claiming its greatest successful year ever. It is up more
:00:58. > :01:07.than 20% from last year. The company made a profit of over $11 $11
:01:08. > :01:09.billion. It is all too sales of iPhones, 48 million of them being
:01:10. > :01:15.sold in the last three months. Despite slowing growth in China,
:01:16. > :01:26.sales have almost doubled to $12.5 billion. That is a quarter of
:01:27. > :01:33.Apple's total revenue. If you take Tim Cook at his word, he is
:01:34. > :01:38.certainly very up beat. He was in China last week, saying the company
:01:39. > :01:45.continues to expand in that part of the world with plans to open 40
:01:46. > :01:48.stores in the country next year. Again, iPhone sales continue to grow
:01:49. > :01:53.despite a slowdown in consumer spending that people are worried
:01:54. > :01:57.about. The other thing is that Apple is continuing to diversify, so you
:01:58. > :02:04.and I are talking primarily about the iPhone, but Apple has tried to
:02:05. > :02:07.get into other products. Not just hardware, but also on the software
:02:08. > :02:22.side. If you think about it efforts in music streaming, video streaming,
:02:23. > :02:26.and Apple Pay. It is still moving forward on many fronts, but it is at
:02:27. > :02:31.the moment a one trick pony in that most of its money still comes from
:02:32. > :02:38.the smartphone. Staying with the sector, there is another firm that
:02:39. > :02:45.is also reporting, which is Twitter. They continued to lose money,
:02:46. > :02:50.revenue rose but the number of active users only grew by 3 million
:02:51. > :02:55.since June. Shares are down by as much as 11% in extended trading.
:02:56. > :03:14.And, Ali Barber reported its results, doing better than expected.
:03:15. > :03:19.-- Alibaba. One of Australia's top lenders, the National Australia
:03:20. > :03:26.Bank, has confirmed that it will sell 80% of its insurance branch to
:03:27. > :03:36.a Japanese country. -- Co. For more on this, we are joined by Rick
:03:37. > :03:40.Spooner from Sydney. We saw this rise in profits but most investors
:03:41. > :03:48.are choosing to focus on the businesses that NAV is trying to
:03:49. > :03:56.sell off chunks of its businesses. -- NAB. Why are they offloading
:03:57. > :04:01.these businesses now? I think in an effort to improve its overall return
:04:02. > :04:09.on equity, these businesses were both not earning the sort of radical
:04:10. > :04:23.turn that NAB requires, they were a drag on the share price. I think it
:04:24. > :04:29.outperformed its peers over the last few months. Do we know about the
:04:30. > :04:34.bank's strategy over the next few months? A new CEO has been in
:04:35. > :04:37.position for about a year, and they are becoming a more streamlined
:04:38. > :04:41.business, but where do you think they will see profits going
:04:42. > :04:47.forward? This is what the market is focusing its attention on, because
:04:48. > :04:54.the NAB has paired itself back to being a traditional bank operating
:04:55. > :04:58.in Australia and New Zealand, which is where almost all of its business
:04:59. > :05:01.is going to be. Performance from here on in is going to be about
:05:02. > :05:08.increasing or improving its performance in the domestic market.
:05:09. > :05:10.Certainly it had lost share and in the business lending sector in
:05:11. > :05:16.particular, where it had previously been top dog, if you like. So its
:05:17. > :05:20.key focus now is going to be on trying to restore the profitability
:05:21. > :05:28.of that business, and that will really be where the panellists will
:05:29. > :05:35.be focused from here on in. Briefly, we know that China, the largest
:05:36. > :05:41.trading partner Rob Australia, is starting to slow, selling many of
:05:42. > :05:47.the businesses that NAB caters to. How will they mitigate the slowdown
:05:48. > :05:51.in China? The slowdown in China poses an overall negative for the
:05:52. > :05:55.Australian economy. Quite a lot of businesses in our economy are
:05:56. > :05:58.dealing with a weaker Australian dollar, so businesses in the
:05:59. > :06:05.small-business sector, involved in tourism and manufacturing, those
:06:06. > :06:08.sort of areas where NAB is traditionally a strong lender, are
:06:09. > :06:19.likely sources of revenue growth. Thank you for joining us.
:06:20. > :06:23.Delegations from 54 nations are gathering in a four-day summit
:06:24. > :06:33.focusing on expanding political and economic relationships in Africa.
:06:34. > :06:38.While India's trade in Africa has jumped sixfold in the last five
:06:39. > :06:42.years it is still a far cry from China's trade with Africa, which is
:06:43. > :06:46.worth about $200 billion. As China's growth is slowing down, its
:06:47. > :06:52.hunger for Africa's rich mineral resources is also slowing. Many see
:06:53. > :06:57.this as an opportunity for India, but while India is keen to tap into
:06:58. > :07:01.that it also wants to send a strong message that its interest in Africa
:07:02. > :07:20.is beyond what is under the ground. The theme is human resources:
:07:21. > :07:23.health,... I asked this university representative about their
:07:24. > :07:28.investments. We have two campuses in Africa, in Mauritius and South
:07:29. > :07:32.Africa, the African market is huge. The whole world is looking at the
:07:33. > :07:36.African education market because African students are looking for
:07:37. > :07:41.quality education from Asia and the world. Our plans in Africa to open a
:07:42. > :07:47.few more campuses in countries like Nigeria and Kenya and Botswana. Do
:07:48. > :07:59.you think India can contribute to this sector in Africa? It is about
:08:00. > :08:03.the quality of students and faculty. If we have a good faculty who know
:08:04. > :08:08.what the students are looking for, students in Africa and India are the
:08:09. > :08:11.same everywhere. How big is the education sector in Africa, what
:08:12. > :08:20.potential DRC in the market? It is a few billion dollars, growing by 10%
:08:21. > :08:26.every year. We intend to open up Kenmore campuses in the next five
:08:27. > :08:35.years. It is a huge market, and a huge opportunity for any player who
:08:36. > :08:44.is looking to invest. Jongleur Marie has a passion in southern Taiwan,
:08:45. > :08:49.recycling and reusing. As visitors kept coming, this couple realised
:08:50. > :08:59.their hobby had given way to a business.
:09:00. > :09:05.My treasures! This is just what is left over from some black boards
:09:06. > :09:11.from high school, and they got rid of these and putting whiteboards,
:09:12. > :09:16.and I grabbed them. What is really hard. These tiles came from the
:09:17. > :09:22.house my wife was born in. As the saying goes, one man's trash is
:09:23. > :09:26.another man's treasure. For this man, it also gave him a start to a
:09:27. > :09:32.business. He gives everything he collates a new life. The blackboards
:09:33. > :09:38.become the ceiling chalice, as well as the bar in this restaurant. There
:09:39. > :09:47.is a groovy put it off in. These antique Japanese bottles, soy
:09:48. > :09:52.sauce... The most important element, the newspapers. Mixed with cement
:09:53. > :09:59.and water they become bricks. So strong are these that all of the
:10:00. > :10:03.structure John has constructed with them survived several major
:10:04. > :10:08.typhoons. Word spread about his unusual hobby. Now, more than 1000
:10:09. > :10:15.people come to see his structures every month. They pay to learn to
:10:16. > :10:26.make newspaper bricks and to see how John builds houses with them. People
:10:27. > :10:29.also learn to make pizza, and John's wife cooks pastry in the
:10:30. > :10:44.kitchen. The top stories this hour: The US
:10:45. > :10:47.has confirmed that