Browse content similar to 05/11/2015. Check below for episodes and series from the same categories and more!
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Now on BBC News: All the latest business news live from Singapore. | :00:00. | :00:14. | |
A friend request to investors. Facebook beats expectations in its | :00:15. | :00:24. | |
third-quarter results. And, fish doubt. Could Asia's love of seafood | :00:25. | :00:29. | |
make it vanish forever? Welcome to Asia Business Report. I | :00:30. | :00:40. | |
am in Singapore. Facebook has announced quarterly results and the | :00:41. | :00:45. | |
social media giant as investors clicking the like button. -- | :00:46. | :00:51. | |
investors. Their profits jumped 11%, nearly $900 million. Their | :00:52. | :00:59. | |
revenue has soared. The number of active monthly users also hit over | :01:00. | :01:05. | |
one and a half billion people. 14% more than a year ago. Early iceberg | :01:06. | :01:11. | |
to our correspondent in New York. -- I spoke to. Despite Oculus Rift and | :01:12. | :01:23. | |
Messenger, they have soared. This is because of their Mabil | :01:24. | :01:30. | |
advertisements. Get accounts for 78% of their revenue. -- mobile. Clearly | :01:31. | :01:36. | |
there investments in mobile are paying off. Despite shrinking growth | :01:37. | :01:39. | |
talk and it is younger user base, if you look at the daily figure of | :01:40. | :01:44. | |
people using Facebook there are more than 1 billion checking Facebook | :01:45. | :01:48. | |
everyday. -- its. That helps with advertisement sales. At 14% increase | :01:49. | :01:56. | |
from last year. Myanmar head to the polls this weekend in the first | :01:57. | :01:59. | |
openly contested election in 25 years. Their economy is opening up | :02:00. | :02:04. | |
as well with growth over 8%. The majority of the population still | :02:05. | :02:10. | |
lives in rural areas though. So our business is outside the major cities | :02:11. | :02:15. | |
seeing the benefit as well? We report from a village one hour out | :02:16. | :02:21. | |
of the capital. An afternoon delivery, all the way from the city. | :02:22. | :02:26. | |
Suddenly, consumerism arrives in Myanmar's villages. More than two | :02:27. | :02:32. | |
thirds of the population live in the countryside, that is by companies | :02:33. | :02:39. | |
like Unilever want a piece of the rural market. -- why. But it isn't | :02:40. | :02:45. | |
easy. I asked how this man's is this has changed as the economy has | :02:46. | :02:51. | |
grown. -- business. I have been working 1.5 years. Travelling to | :02:52. | :02:57. | |
villages... It is very telling. When you go to rural Myanmar you can | :02:58. | :03:01. | |
definitely feel a difference. Where do you feel it? When I walk down the | :03:02. | :03:06. | |
streets and see there are more numbers of outlet that want to do | :03:07. | :03:11. | |
business. I see a difference in the products that we sell in the | :03:12. | :03:19. | |
outlets. -- outlets. More premium sachets. People are wanting to buy | :03:20. | :03:23. | |
better products and a yearning for better quality. At a time and it's | :03:24. | :03:31. | |
history when it opened up it was good and then it closed down again. | :03:32. | :03:40. | |
-- are. -- its. Do you think and could close down again? We think it | :03:41. | :03:44. | |
will not go back. -- you think it will close down again? We are one of | :03:45. | :03:50. | |
the first businesses that did that. If you see from 2010 until now, | :03:51. | :03:54. | |
things have been moving forward. People can argue it is slowed, but | :03:55. | :04:01. | |
certainly forward. But it is still under sanctions. How do you as an | :04:02. | :04:05. | |
international company navigate yourself in this environment? | :04:06. | :04:09. | |
Compared to a normal market it takes a bit more work. But we do take the | :04:10. | :04:16. | |
right step. We look at the sanction list and what is happening on it | :04:17. | :04:23. | |
appeared if we are going to do business with someone new we check | :04:24. | :04:28. | |
who they are. -- on it. That is what we do. I don't think doing business | :04:29. | :04:33. | |
in Myanmar is that difficult. Is it tough? Yeah. Indonesia puts out its | :04:34. | :04:45. | |
scorecard for economic growth later today with third-quarter dates are | :04:46. | :04:47. | |
expected to be better than the last quarter when the economy grew at its | :04:48. | :04:57. | |
slowest rate in six years. -- data. Will the president's efforts work? I | :04:58. | :05:07. | |
am joined by a representative of Oxford Economics. Tell us what you | :05:08. | :05:11. | |
are thinking about. I am not optimistic the mud but there is | :05:12. | :05:15. | |
definitely some acceleration in growth expected. -- optimistic,. We | :05:16. | :05:26. | |
know that the president has reach up and his Cabinet, tried to | :05:27. | :05:31. | |
restructure the economy. -- restructured. Are the benefits | :05:32. | :05:37. | |
working? When will we see it? That is a good question. Indonesia is a | :05:38. | :05:42. | |
difficult economy in terms of the political system is. All the | :05:43. | :05:47. | |
regulations are made at a central level. -- systems. | :05:48. | :05:59. | |
regulations and to implement that. This is nothing we have seen in the | :06:00. | :06:03. | |
past. A huge gap between policy formulation and implementation. | :06:04. | :06:17. | |
challenges going forward, to have this new team, something that Joko | :06:18. | :06:20. | |
Widodo did recently, making sure they can work together to deliver on | :06:21. | :06:27. | |
what is expected. How much confidence does the government | :06:28. | :06:30. | |
inspire? I know they are trying to restructure the economy, but of | :06:31. | :06:33. | |
course, critics around the region have been particularly annoyed by | :06:34. | :06:39. | |
the haze. The inability to prevent this recurring problem of illusion | :06:40. | :06:43. | |
that black is the whole region. Does that inspire confidence? -- | :06:44. | :06:50. | |
blankets. You are right to point that out. It is a huge factor that | :06:51. | :06:56. | |
hasn't been taken care of. The economy will take a bit of a hit | :06:57. | :07:01. | |
because of it. Having said that, I don't think the government has been | :07:02. | :07:08. | |
able to give confidence even to its own people. Absolutely. Others said, | :07:09. | :07:15. | |
bureaucracy and red tape is working through these things. Having the | :07:16. | :07:18. | |
budget allocated for something like this to be disbursed for the right | :07:19. | :07:23. | |
purpose is the right way to go. Thank you for joining us today. | :07:24. | :07:29. | |
Asia's love of seafood is well known but a growing appetite means that | :07:30. | :07:34. | |
some fish species are close to extension, especially in the South | :07:35. | :07:37. | |
China Sea. But because of territorial disputes Asian | :07:38. | :07:40. | |
governments are not working together to prevent overfishing. We report | :07:41. | :07:49. | |
from Hong Kong. Here in Hong Kong, seafood is a huge part of the eating | :07:50. | :07:52. | |
culture. No celebration is complete without serving fish, ideally, one | :07:53. | :07:57. | |
that was swimming just a few minutes before. People here it's more than | :07:58. | :08:00. | |
150 lbs of seafood every year. eat more. That is 100 times the | :08:01. | :08:04. | |
global average. This insatiable appetite is leading to intense | :08:05. | :08:17. | |
overfishing. This man has been fishing here in the South China Sea | :08:18. | :08:20. | |
for more than 35 years and he has been first-hand the effects of | :08:21. | :08:28. | |
unsustainable practices. TRANSLATION: The number of fishing | :08:29. | :08:30. | |
boats in the South China Sea has jumped from 70,000 to 700,000. It is | :08:31. | :08:37. | |
ten times more than it used to be. So there is a huge change. Mainland | :08:38. | :08:43. | |
China's economy has taken off and many of the fishermen go to the | :08:44. | :08:52. | |
South China Sea for fishing. How has that affected the fish? There are | :08:53. | :08:55. | |
more boats, so, of course there are less fish. And each fishermen | :08:56. | :09:03. | |
less catch. -- fisherman. Sustainable practices are better | :09:04. | :09:06. | |
because there will be more for everyone. In some countries, small | :09:07. | :09:11. | |
fish are not allowed to be taken and this can stop overfishing. A study | :09:12. | :09:18. | |
by the British Columbia University shows that the price of shrimp will | :09:19. | :09:34. | |
become three times more expensive is no strategies are taken. What has to | :09:35. | :09:37. | |
be done now to tackle the problem of overfishing? This is a critical | :09:38. | :09:40. | |
issue. The government in the region really need to work together to | :09:41. | :09:46. | |
manage their fisheries. -- governments. There are over 3 | :09:47. | :09:52. | |
million people a day that make their livelihoods in fishing. All of this | :09:53. | :09:55. | |
will be gone if we do not manage it seriously. There will be serious | :09:56. | :09:59. | |
social and economic consequences in the region if we do not manage it | :10:00. | :10:04. | |
well. Juliana Liu reporting in Hong Kong. Let's look at the markets are | :10:05. | :10:12. | |
be most Asian shares have open. The Nikkei is unusually continuing to | :10:13. | :10:15. | |
extend gains from yesterday despite the forces overnight from Wall | :10:16. | :10:18. | |
Street. Remember, we saw the strong debut by very Japan-based jazz which | :10:19. | :10:29. | |
surged on Wednesday. -- Japan Post shares. -- three. That is it for | :10:30. | :10:36. | |
Asia Business Report. And people watching. | :10:37. | :10:38. | |
Britain has said there's a significant possibility that | :10:39. | :10:42. | |
the Russian airliner that crashed in Egypt on Saturday was brought | :10:43. | :10:46. |