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Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:14. | |
Talking tough on haze but Indonesia's government refuses to | :00:15. | :00:23. | |
name the companies under investigation. And could do better. | :00:24. | :00:28. | |
We look at why British universities are failing to attract students from | :00:29. | :00:37. | |
India. Welcome to Asia Business Report. The Chief of Staff to | :00:38. | :00:46. | |
Indonesia's president has personally apologised for the peatland fires | :00:47. | :00:49. | |
that have caused a health threatening haze across the region. | :00:50. | :00:52. | |
He again refused to name the companies the government is | :00:53. | :00:58. | |
investigating in relation to those fires. Earlier I spoke to a | :00:59. | :01:03. | |
correspondent in Jakarta about what the Chief of Staff actually said. He | :01:04. | :01:08. | |
said the Indonesian government knows they need to do more to tackle the | :01:09. | :01:12. | |
fires. They could have done better this year and he is promising they | :01:13. | :01:15. | |
are serious about tackling the issue, to make sure it doesn't | :01:16. | :01:21. | |
happen again. He is talking about significant legal changes and saying | :01:22. | :01:24. | |
the Indonesian government will repeal the laws that currently allow | :01:25. | :01:27. | |
farmers to slash and burn two hectares of land. He says that | :01:28. | :01:33. | |
companies who are found to have burned land will be punished and he | :01:34. | :01:38. | |
also says the government will not hand out any further concessions to | :01:39. | :01:44. | |
plantation companies on peatland and will be reviewing all existing | :01:45. | :01:50. | |
concessions. And also, they will release a transparent map that has | :01:51. | :01:53. | |
long been asked for by the government so that we have an idea | :01:54. | :01:59. | |
of who owns this land. Obviously, he told you they are taking many | :02:00. | :02:03. | |
precautions, but we know the economic costs have been large. One | :02:04. | :02:09. | |
estimate suggests it is about $14 billion alone this year. Despite all | :02:10. | :02:17. | |
these steps, can it be done so this issue doesn't occur again next | :02:18. | :02:22. | |
year? It will be very challenging for the government to turn this | :02:23. | :02:26. | |
situation around in just one year. The government is admitting these | :02:27. | :02:29. | |
problems have happened because of a buildup of years of mismanagement of | :02:30. | :02:36. | |
this land. A problem of corruption in Indonesia and deregulation where | :02:37. | :02:40. | |
you have governors handing out land on these peatlands, and police not | :02:41. | :02:47. | |
following through with regulations ordered by the central government. | :02:48. | :02:52. | |
Those challenges will be huge. There was also pressure from the industry | :02:53. | :02:55. | |
already, the palm oil Association has told me they will be warning the | :02:56. | :03:00. | |
Indonesian government that if it goes ahead with these moves to | :03:01. | :03:05. | |
restrict the expansion of palm oil concessions in peatland, it is | :03:06. | :03:09. | |
something they will be lobbying against and telling the president | :03:10. | :03:11. | |
that if he does that, there will be a negative economic impact. The | :03:12. | :03:21. | |
company which makes the Black Hawk helicopters was sold last week to | :03:22. | :03:23. | |
the world's largest defence contractor Lockheed Martin. In a | :03:24. | :03:30. | |
shot, there is growing demand for maritime surveillance as well as | :03:31. | :03:33. | |
rising tensions in the South China Sea and that has boosted orders for | :03:34. | :03:37. | |
helicopters which can track and torpedo submarines. Earlier I spoke | :03:38. | :03:41. | |
to a representative from the company about what the deal meant for them. | :03:42. | :03:47. | |
Certainly maritime security is very high on the list of priorities for | :03:48. | :03:51. | |
the region and other regions as well and with that, we see an increased | :03:52. | :03:57. | |
need for maritime helicopters. The Seahawks is the best helicopter on | :03:58. | :04:06. | |
the market operated by the US Navy and also by Singapore, Taiwan and | :04:07. | :04:12. | |
Thailand. China is amongst the highest military spenders in this | :04:13. | :04:17. | |
region but you cannot sell military helicopters to China, how does it | :04:18. | :04:20. | |
affect your business? We clearly follow US policy in all regards with | :04:21. | :04:26. | |
the export of defence articles. That is something that has always been | :04:27. | :04:29. | |
part of our business plan although we do have a vibrant commercial | :04:30. | :04:34. | |
market in China. Nonetheless, this is an opportunity that your company | :04:35. | :04:38. | |
could potentially explore. How much money are you losing as a result of | :04:39. | :04:42. | |
not being in China militarily? I would look at it more as an | :04:43. | :04:46. | |
opportunity in the region. With the tensions increasing, companies are | :04:47. | :04:52. | |
looking for a world-class military helicopter and we provide a | :04:53. | :04:58. | |
significant military determinants. -- deterrent. But it is also capable | :04:59. | :05:04. | |
of humanitarian and search and rescue operations. China's | :05:05. | :05:11. | |
e-commerce giant Alibaba has broken its own record for sales on the | :05:12. | :05:16. | |
country's Singles Day which was yesterday. It is the world's biggest | :05:17. | :05:20. | |
online shopping events and by the close of trade, the site had seen | :05:21. | :05:25. | |
sales worth $14.3 billion which is a 60% increase from last year. In | :05:26. | :05:32. | |
comparison, sales on Cyber Monday which is the biggest online shopping | :05:33. | :05:37. | |
day in the US, only had 1.3 5 billion. Anheuser-Busch has inked a | :05:38. | :05:47. | |
deal to take over its nearest rival with the biggest takeover global | :05:48. | :05:50. | |
corporate history, bringing together the world's two largest beer | :05:51. | :05:54. | |
makers. It will bring together the top beers with all the SAB Miller | :05:55. | :06:05. | |
brands. In Japan's core machinery orders rose in the fourth quarter. | :06:06. | :06:10. | |
They are leading indicator of business confidence. Orders rose | :06:11. | :06:15. | |
seven and a half % over recent months and is more than double what | :06:16. | :06:20. | |
had been estimated. Orders are still down compared to last quarter | :06:21. | :06:22. | |
meaning that the government still faces an uphill stock all in | :06:23. | :06:27. | |
convincing companies to invest. The latest implement figures from | :06:28. | :06:30. | |
Australia were out this morning and beat all expectations. In October | :06:31. | :06:34. | |
the jobless rate fell sharply to a five-month low. Unemployment fell to | :06:35. | :06:38. | |
5.9% from six point to a month earlier. Analysts do caution that | :06:39. | :06:42. | |
the figures are volatile but they do expect it to boost investor | :06:43. | :06:48. | |
sentiment. The Australian dollar gained 1% on that news. India's | :06:49. | :06:52. | |
Prime Minister Narendra Modi begins his visit to the UK today. Education | :06:53. | :06:58. | |
is one of the areas where the two countries will be hoping to increase | :06:59. | :07:01. | |
cooperation. The number of Indian students studying in Britain have | :07:02. | :07:05. | |
actually fallen by 50% in the past four years. Now we go to our | :07:06. | :07:11. | |
correspondent who takes a look at why Indian students are turning | :07:12. | :07:15. | |
their backs on British universities. Teaching his moves at | :07:16. | :07:19. | |
the University of Edinburgh. This Indian superstar was awarded an | :07:20. | :07:26. | |
honourary doctorate next month, drawing attention to British | :07:27. | :07:31. | |
University which really needs Indian attention. The number of Indian | :07:32. | :07:34. | |
students going to the UK for hire education has been cut in half over | :07:35. | :07:39. | |
four years. And even many of those who did study there are not happy. | :07:40. | :07:46. | |
This woman is the physiotherapist who specializes in breathing | :07:47. | :07:49. | |
disorders and she bore at nearly $18,000 to study in the UK but | :07:50. | :07:56. | |
because of Britain's visa policies, she had to return to India soon | :07:57. | :07:59. | |
after her course was finished -- borrowed. Because of my visa, I | :08:00. | :08:06. | |
didn't get work experience so I had come back year. After I came here, I | :08:07. | :08:11. | |
applied for jobs in most of the in Mumbai, but when they called me for | :08:12. | :08:16. | |
interviews come at the only question was how much experience I had in | :08:17. | :08:21. | |
this field. While the UK only allows students to stay for four months | :08:22. | :08:23. | |
after they finish their course to look for a job, other countries are | :08:24. | :08:29. | |
more generous. In the US, poststudy work visas can be for a period of 1- | :08:30. | :08:34. | |
two years depending on the course. Australia allows two years while in | :08:35. | :08:36. | |
Canada, students can stay for up to three years once they finish their | :08:37. | :08:42. | |
degree. For students here in India, the UK has been the most popular | :08:43. | :08:46. | |
destination for international studies after America because of the | :08:47. | :08:49. | |
quality of education and also the chance to study in English, a | :08:50. | :08:54. | |
language most Indian students are comfortable speaking. Because of the | :08:55. | :08:56. | |
changes in visa policies, many now think that a British degree is not | :08:57. | :09:03. | |
worth the investment. When David Cameron visited India two years ago, | :09:04. | :09:08. | |
he tried to woo Indian students back but it doesn't seem to have worked. | :09:09. | :09:13. | |
I'm not really sure we understand why numbers have fallen. There have | :09:14. | :09:17. | |
been some misperceptions about our offer and whether we are really | :09:18. | :09:21. | |
open. That is why I want to say today, that there is no limit on the | :09:22. | :09:24. | |
number of Indian students who can come to study in the UK at our great | :09:25. | :09:28. | |
universities and there is no limit on the number of Indian students who | :09:29. | :09:32. | |
can stay on and work in the UK, provided they get a graduate-level | :09:33. | :09:39. | |
job. That is a message the British government wants to reach youngsters | :09:40. | :09:42. | |
like these who are still contemplating studying in the UK. | :09:43. | :09:47. | |
But it might not be enough to convince them and that is a lesson | :09:48. | :09:49. | |
in Britain seems to be learning the hard way. | :09:50. | :09:55. | |
Let's take a look at the markets. They are still trading fairly flat. | :09:56. | :10:04. | |
The Nikkei is flat at the moment as is the Australian market. The Hang | :10:05. | :10:10. | |
Seng had opened slightly higher. This is in spite of the machinery | :10:11. | :10:15. | |
orders I told you about earlier that were positive in Japan as well as | :10:16. | :10:21. | |
the positive jobless numbers in Australia. Markets are fairly | :10:22. | :10:24. | |
tentative. Commodities are being sold off a great deal from a | :10:25. | :10:27. | |
particularly in Australia because energy prices have fallen. That is | :10:28. | :10:33. | |
it for this edition of Asia Business Report. Thank you for watching. | :10:34. | :10:43. | |
Aung San Suu Kyi is on the brink of taking power in Myanmar, | :10:44. | :10:48. |