:00:00. > :00:14.Now on BBC News: All the latest business news live from Singapore.
:00:15. > :00:24.A friend request to investors. Facebook beats expectations in its
:00:25. > :00:29.third-quarter results. And, fish doubt. Could Asia's love of seafood
:00:30. > :00:40.make it vanish forever? Welcome to Asia Business Report. I
:00:41. > :00:45.am in Singapore. Facebook has announced quarterly results and the
:00:46. > :00:51.social media giant as investors clicking the like button. --
:00:52. > :00:59.investors. Their profits jumped 11%, nearly $900 million. Their
:01:00. > :01:05.revenue has soared. The number of active monthly users also hit over
:01:06. > :01:11.one and a half billion people. 14% more than a year ago. Early iceberg
:01:12. > :01:23.to our correspondent in New York. -- I spoke to. Despite Oculus Rift and
:01:24. > :01:30.Messenger, they have soared. This is because of their Mabil
:01:31. > :01:36.advertisements. Get accounts for 78% of their revenue. -- mobile. Clearly
:01:37. > :01:39.there investments in mobile are paying off. Despite shrinking growth
:01:40. > :01:44.talk and it is younger user base, if you look at the daily figure of
:01:45. > :01:48.people using Facebook there are more than 1 billion checking Facebook
:01:49. > :01:56.everyday. -- its. That helps with advertisement sales. At 14% increase
:01:57. > :01:59.from last year. Myanmar head to the polls this weekend in the first
:02:00. > :02:04.openly contested election in 25 years. Their economy is opening up
:02:05. > :02:10.as well with growth over 8%. The majority of the population still
:02:11. > :02:15.lives in rural areas though. So our business is outside the major cities
:02:16. > :02:21.seeing the benefit as well? We report from a village one hour out
:02:22. > :02:26.of the capital. An afternoon delivery, all the way from the city.
:02:27. > :02:32.Suddenly, consumerism arrives in Myanmar's villages. More than two
:02:33. > :02:39.thirds of the population live in the countryside, that is by companies
:02:40. > :02:45.like Unilever want a piece of the rural market. -- why. But it isn't
:02:46. > :02:51.easy. I asked how this man's is this has changed as the economy has
:02:52. > :02:57.grown. -- business. I have been working 1.5 years. Travelling to
:02:58. > :03:01.villages... It is very telling. When you go to rural Myanmar you can
:03:02. > :03:06.definitely feel a difference. Where do you feel it? When I walk down the
:03:07. > :03:11.streets and see there are more numbers of outlet that want to do
:03:12. > :03:19.business. I see a difference in the products that we sell in the
:03:20. > :03:23.outlets. -- outlets. More premium sachets. People are wanting to buy
:03:24. > :03:31.better products and a yearning for better quality. At a time and it's
:03:32. > :03:40.history when it opened up it was good and then it closed down again.
:03:41. > :03:44.-- are. -- its. Do you think and could close down again? We think it
:03:45. > :03:50.will not go back. -- you think it will close down again? We are one of
:03:51. > :03:54.the first businesses that did that. If you see from 2010 until now,
:03:55. > :04:01.things have been moving forward. People can argue it is slowed, but
:04:02. > :04:05.certainly forward. But it is still under sanctions. How do you as an
:04:06. > :04:09.international company navigate yourself in this environment?
:04:10. > :04:16.Compared to a normal market it takes a bit more work. But we do take the
:04:17. > :04:23.right step. We look at the sanction list and what is happening on it
:04:24. > :04:28.appeared if we are going to do business with someone new we check
:04:29. > :04:33.who they are. -- on it. That is what we do. I don't think doing business
:04:34. > :04:45.in Myanmar is that difficult. Is it tough? Yeah. Indonesia puts out its
:04:46. > :04:47.scorecard for economic growth later today with third-quarter dates are
:04:48. > :04:57.expected to be better than the last quarter when the economy grew at its
:04:58. > :05:07.slowest rate in six years. -- data. Will the president's efforts work? I
:05:08. > :05:11.am joined by a representative of Oxford Economics. Tell us what you
:05:12. > :05:15.are thinking about. I am not optimistic the mud but there is
:05:16. > :05:26.definitely some acceleration in growth expected. -- optimistic,. We
:05:27. > :05:31.know that the president has reach up and his Cabinet, tried to
:05:32. > :05:37.restructure the economy. -- restructured. Are the benefits
:05:38. > :05:42.working? When will we see it? That is a good question. Indonesia is a
:05:43. > :05:47.difficult economy in terms of the political system is. All the
:05:48. > :05:59.regulations are made at a central level. -- systems.
:06:00. > :06:03.regulations and to implement that. This is nothing we have seen in the
:06:04. > :06:17.past. A huge gap between policy formulation and implementation.
:06:18. > :06:20.challenges going forward, to have this new team, something that Joko
:06:21. > :06:27.Widodo did recently, making sure they can work together to deliver on
:06:28. > :06:30.what is expected. How much confidence does the government
:06:31. > :06:33.inspire? I know they are trying to restructure the economy, but of
:06:34. > :06:39.course, critics around the region have been particularly annoyed by
:06:40. > :06:43.the haze. The inability to prevent this recurring problem of illusion
:06:44. > :06:50.that black is the whole region. Does that inspire confidence? --
:06:51. > :06:56.blankets. You are right to point that out. It is a huge factor that
:06:57. > :07:01.hasn't been taken care of. The economy will take a bit of a hit
:07:02. > :07:08.because of it. Having said that, I don't think the government has been
:07:09. > :07:15.able to give confidence even to its own people. Absolutely. Others said,
:07:16. > :07:18.bureaucracy and red tape is working through these things. Having the
:07:19. > :07:23.budget allocated for something like this to be disbursed for the right
:07:24. > :07:29.purpose is the right way to go. Thank you for joining us today.
:07:30. > :07:34.Asia's love of seafood is well known but a growing appetite means that
:07:35. > :07:37.some fish species are close to extension, especially in the South
:07:38. > :07:40.China Sea. But because of territorial disputes Asian
:07:41. > :07:49.governments are not working together to prevent overfishing. We report
:07:50. > :07:52.from Hong Kong. Here in Hong Kong, seafood is a huge part of the eating
:07:53. > :07:57.culture. No celebration is complete without serving fish, ideally, one
:07:58. > :08:00.that was swimming just a few minutes before. People here it's more than
:08:01. > :08:04.150 lbs of seafood every year. eat more. That is 100 times the
:08:05. > :08:17.global average. This insatiable appetite is leading to intense
:08:18. > :08:20.overfishing. This man has been fishing here in the South China Sea
:08:21. > :08:28.for more than 35 years and he has been first-hand the effects of
:08:29. > :08:30.unsustainable practices. TRANSLATION: The number of fishing
:08:31. > :08:37.boats in the South China Sea has jumped from 70,000 to 700,000. It is
:08:38. > :08:43.ten times more than it used to be. So there is a huge change. Mainland
:08:44. > :08:52.China's economy has taken off and many of the fishermen go to the
:08:53. > :08:55.South China Sea for fishing. How has that affected the fish? There are
:08:56. > :09:03.more boats, so, of course there are less fish. And each fishermen
:09:04. > :09:06.less catch. -- fisherman. Sustainable practices are better
:09:07. > :09:11.because there will be more for everyone. In some countries, small
:09:12. > :09:18.fish are not allowed to be taken and this can stop overfishing. A study
:09:19. > :09:34.by the British Columbia University shows that the price of shrimp will
:09:35. > :09:37.become three times more expensive is no strategies are taken. What has to
:09:38. > :09:40.be done now to tackle the problem of overfishing? This is a critical
:09:41. > :09:46.issue. The government in the region really need to work together to
:09:47. > :09:52.manage their fisheries. -- governments. There are over 3
:09:53. > :09:55.million people a day that make their livelihoods in fishing. All of this
:09:56. > :09:59.will be gone if we do not manage it seriously. There will be serious
:10:00. > :10:04.social and economic consequences in the region if we do not manage it
:10:05. > :10:12.well. Juliana Liu reporting in Hong Kong. Let's look at the markets are
:10:13. > :10:15.be most Asian shares have open. The Nikkei is unusually continuing to
:10:16. > :10:18.extend gains from yesterday despite the forces overnight from Wall
:10:19. > :10:29.Street. Remember, we saw the strong debut by very Japan-based jazz which
:10:30. > :10:36.surged on Wednesday. -- Japan Post shares. -- three. That is it for
:10:37. > :10:38.Asia Business Report. And people watching.
:10:39. > :10:42.Britain has said there's a significant possibility that
:10:43. > :10:46.the Russian airliner that crashed in Egypt on Saturday was brought