Browse content similar to 17/11/2015. Check below for episodes and series from the same categories and more!
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path. He died after being taken to hospital. Merseyside Police have | :00:00. | :00:00. | |
launched a murder investigation. Entrepreneurship, innovation and | :00:00. | :00:22. | |
human capital. Key themes for the meeting of the APEC leaders summit | :00:23. | :00:28. | |
in Manila. Stuck in traffic or moving forward? We take a closer | :00:29. | :00:32. | |
look at infrastructure, which is crucial to growth in not only the | :00:33. | :00:36. | |
Philippines but Asia-Pacific economies. | :00:37. | :00:44. | |
Good morning Asia, hello world! Great to have the with us for this | :00:45. | :00:51. | |
special edition of Asia Business Report, live from my home city of | :00:52. | :00:56. | |
Manila. I am currently here at the APEC CEO Summit, and it is 9:30am, | :00:57. | :01:04. | |
and world leaders are starting to arrive for the annual summit, which | :01:05. | :01:08. | |
officially begins tomorrow. The theme this year is all about | :01:09. | :01:14. | |
inclusive growth and inclusive economies. It is also the first time | :01:15. | :01:18. | |
that member states of the major trade agreement, also known as the | :01:19. | :01:24. | |
PPP, will meet, since the agreement was finalised. The host country of | :01:25. | :01:29. | |
APEC, the Philippines, is not part of this arrangement, and the | :01:30. | :01:34. | |
President has said the DPP needs to be more inclusive. Every country | :01:35. | :01:38. | |
would want to be part of all of these agreement, but we were not | :01:39. | :01:46. | |
invited to DPP to begin with. We are expected to be invited when they do | :01:47. | :01:51. | |
open up membership. If the idea is to broaden trade, making it | :01:52. | :01:57. | |
exclusive actually defeats the whole purpose of why you enter into the | :01:58. | :02:03. | |
agreement. That was the president of the Philippines. The leading lights | :02:04. | :02:08. | |
of the business world are also here, as you can see behind me. In fact, | :02:09. | :02:13. | |
7000 business leaders and delegates are currently meeting to discuss | :02:14. | :02:17. | |
economic growth, and how to make it more inclusive. Infrastructure | :02:18. | :02:23. | |
indeed is an important element, but it is one that poses many challenges | :02:24. | :02:24. | |
for the whole city, my home city. Manila, a place with huge potential, | :02:25. | :02:36. | |
but it has its setbacks. It can to work each day he can be a chore. I | :02:37. | :02:42. | |
want to experience people's daily frustrations. Today I'm going to | :02:43. | :02:46. | |
take a right with a management consultant, on his journey to work. | :02:47. | :02:54. | |
At this point I am wondering, is Manila really the worst city to | :02:55. | :02:59. | |
drive on earth? We are currently in the midst of a major traffic jam. | :03:00. | :03:06. | |
Vehicles are bumper-to-bumper. This is a reality every day. It takes us | :03:07. | :03:10. | |
at least 2.5 hours on average to get from one point to another. Why don't | :03:11. | :03:17. | |
you take public transport? It is completely dysfunctional, it is | :03:18. | :03:22. | |
obsolete, 30 years behind time. Time is money, and no one knows that more | :03:23. | :03:25. | |
than Jerome Coppel who owns it processing company. His plans turn | :03:26. | :03:32. | |
out more than 5000 hotdogs every minute, 6 million per day, supplying | :03:33. | :03:38. | |
80% of the Philippines' fast food restaurant. But profits are being | :03:39. | :03:45. | |
squeezed. We have trouble brought about by port congestion and very | :03:46. | :03:53. | |
busy roads, that hampers our efficiency and brings up our costs | :03:54. | :03:58. | |
of distribution. Port infrastructure, cost to the | :03:59. | :04:03. | |
Philippine economy was an estimated $16 million a day. The government | :04:04. | :04:08. | |
insist infrastructure spending has more than tripled since this | :04:09. | :04:10. | |
president came to power five years ago. The projects to build rail | :04:11. | :04:16. | |
networks, airports, and roads have been hit by delays, and even the | :04:17. | :04:21. | |
minister in charge admits it has had an economic impact. Definitely there | :04:22. | :04:30. | |
is a huge cost of the late infrastructure, but it took us some | :04:31. | :04:34. | |
time to put the programme in place. With elections due in 2016, the | :04:35. | :04:39. | |
pressure is on the next government to ease the burden on commuters and | :04:40. | :04:41. | |
businesses working in the capital. Those are some of the concerns of | :04:42. | :04:49. | |
the small and medium-sized enterprises, but what do the leaders | :04:50. | :05:04. | |
have to say about this? Growth has really helped in the fast food | :05:05. | :05:10. | |
industry. It is quite resilient industry, but a good economy help us | :05:11. | :05:14. | |
grow faster. The challenges would be with growth comes availability of | :05:15. | :05:23. | |
human capital, scheduling and delivery, with traffic issues we | :05:24. | :05:32. | |
need more proper scheduling, and probably our stores will carry a bit | :05:33. | :05:38. | |
more infantry. Wouldn't it be great if he road networks, the ports, the | :05:39. | :05:42. | |
airports, everything that facilitates trade and of people, | :05:43. | :05:46. | |
there is a lot of low hanging fruit in the country. The tourism industry | :05:47. | :05:51. | |
has tremendous potential, and if we can facilitate the movement of | :05:52. | :05:54. | |
people, the entry of foreign capital, we will be in great shape. | :05:55. | :06:04. | |
I think the waiting sheds in the basketball courts... When it comes | :06:05. | :06:11. | |
to the tollway it is the private sector building it, finding it. The | :06:12. | :06:18. | |
only reason there is a delay is the delivery of the right of way. It | :06:19. | :06:23. | |
really affects the Philippine economy in terms of the traffic, as | :06:24. | :06:30. | |
you know. The regular traffic is costing the economy billions. | :06:31. | :06:44. | |
For her views I am joined by the vice-chair of JP Morgan | :06:45. | :06:51. | |
Asia-Pacific. Thank you for joining us on Asia Business Report. We are | :06:52. | :06:54. | |
talking about inclusive growth building economies. Amid the | :06:55. | :06:58. | |
slowdown in emerging Asian markets, how can inclusive growth help the | :06:59. | :07:05. | |
slowing economy is? Around the Asia-Pacific region, we have 21 | :07:06. | :07:10. | |
economies, so inclusive growth really happens at three levels. At a | :07:11. | :07:16. | |
country level, a corporate level, and that the people level. In the | :07:17. | :07:22. | |
Asia-Pacific region there are large economies, like China, but also | :07:23. | :07:28. | |
smaller ones, like the Philippines. Is there enough support for small | :07:29. | :07:31. | |
and medium-sized enterprises? Be used to be a lot more support, | :07:32. | :07:35. | |
because 90% of the companies in Asia-Pacific region need more | :07:36. | :07:39. | |
financing and support from governments in terms of profit. They | :07:40. | :07:48. | |
also need more employment, so at the people level we don't know. | :07:49. | :07:51. | |
Inclusive growth also means fighting poverty. How do you do that? We need | :07:52. | :07:56. | |
to create more infrastructure around the Asia-Pacific so everyone has | :07:57. | :08:01. | |
equal access to the cities and the wonderful infrastructure some urban | :08:02. | :08:05. | |
residents now enjoy. Looking at China, how has inclusive growth | :08:06. | :08:08. | |
helped the economy going forward? In China, one of the major environment | :08:09. | :08:14. | |
initiatives is to make growth a lot more balanced. In the past it was | :08:15. | :08:20. | |
all about manufacturing, but today it is more driven by services. Also, | :08:21. | :08:24. | |
urbanisation is a Keith Dean for Chinese growth, so inclusive growth | :08:25. | :08:32. | |
is about bringing more people into the city and making them enjoy the | :08:33. | :08:38. | |
city lifestyle -- a key theme. Before you go, what do you think | :08:39. | :08:45. | |
about more stimulus measures and interest-rate cuts? There could be | :08:46. | :08:50. | |
more, but we need to focus on the growth of people, rather than just | :08:51. | :08:54. | |
profits. We are cautiously optimistic, next you restart the | :08:55. | :09:00. | |
13th five-year plan, and we will seek it being transformed into a | :09:01. | :09:02. | |
more consumption driven and service driven economy. The | :09:03. | :09:06. | |
Morgan Asia-Pacific, thank you for joining us. Moving to other business | :09:07. | :09:14. | |
news, making headlines, Asia-Pacific airlines have taken a hit on the | :09:15. | :09:19. | |
share market on fears that the Paris attacks would deter people from | :09:20. | :09:26. | |
overseas travel. Hong Kong has said stocks closed lower by 3.5% on Air | :09:27. | :09:31. | |
China, with Cathay Pacific closing down. In Sydney, airline stocks also | :09:32. | :09:37. | |
down, but Virgin Australia has gained 1.7% while Qantas also in | :09:38. | :09:43. | |
positive territory by 2.3%. Indonesia's central bank is holding | :09:44. | :09:47. | |
its meeting today. It has kept rates on hold at 7.5% since February. The | :09:48. | :09:51. | |
most recent figures suggest inflation is easing and growth has | :09:52. | :09:55. | |
picked up slightly. Indonesia is expected to post growth below 5% for | :09:56. | :10:03. | |
the first time since 2009. The world's biggest hotel company is in | :10:04. | :10:10. | |
the making after Marriot has agreed to a deal with over 12 billion US | :10:11. | :10:13. | |
dollars to combine with another company. They will have more than | :10:14. | :10:20. | |
5500 hotels with 1.1 million rooms, and $2.7 billion in revenue. That | :10:21. | :10:25. | |
will see them overtake the UK's Intercontinental hotels, which is | :10:26. | :10:31. | |
just under 5000 hotels. With that, we end of this addition of Asia | :10:32. | :10:35. | |
Business Report. Thank you for investing your time with us. | :10:36. | :10:41. | |
Our top stories: President Hollande has vowed to destroy the so-called | :10:42. | :10:48. | |
Islamic State | :10:49. | :10:49. |