:00:00. > :00:14.Now on BBC News, all the latest business news live from Singapore.
:00:15. > :00:24.Tight security in Kuala Lumpur will head of the ASEAN conference to
:00:25. > :00:30.discuss security and trade. -- ahead. Gambling in Goa. Betting big
:00:31. > :00:35.on tougher rules. Hello, and welcome to
:00:36. > :00:55.Asia Business Report. Regional and global head are going
:00:56. > :01:02.from the Leijer to a summit. -- to Malaysia. They will be joined by the
:01:03. > :01:08.US, China and India. One key topic for discussion is the economic
:01:09. > :01:12.immunity, the AEC, which aims for integration by the end of the year.
:01:13. > :01:22.Just how close is the AEC in reality? This port in Bangkok, you
:01:23. > :01:28.could argue that this is what ASEAN is all about. Some of the world's
:01:29. > :01:33.most globalised economies increasingly trading with each
:01:34. > :01:41.other. Take my family car, for example. A Japanese brand designed
:01:42. > :01:46.in India but made in Indonesia. The ASEAN Free Trade Agreement allows
:01:47. > :01:52.manufacturers to make factories here and then sell their cars in a market
:01:53. > :01:57.of 600 million people. But ASEAN already has free trade so what
:01:58. > :02:03.difference is an ASEAN economic community going to make Both there
:02:04. > :02:13.is a lot more work to do on trade. -- make? It is supposed to go
:02:14. > :02:19.further than that. Hairdressing is one of 39 employment categories that
:02:20. > :02:28.for the moment only Thais are allowed to do here. According to the
:02:29. > :02:36.AEC eight professions are now available. How much change as? It is
:02:37. > :02:43.not general labour, only skilled labour. -- changes. You still have
:02:44. > :02:55.to pass a test to get a licence, like medical Doctors or dentist or
:02:56. > :03:03.nurses. -- doctors or dentists. Architecture is one of the ASEAN
:03:04. > :03:07.professions. This woman says she is not expecting a flood of rivals
:03:08. > :03:10.neighbouring countries next year. She points out that her business
:03:11. > :03:15.already relies heavily on foreign workers who have in coming here for
:03:16. > :03:22.years. In the office or construction site you can hardly see any Thai
:03:23. > :03:28.workers or technician. It is difficult. I have to operate in body
:03:29. > :03:34.language most of the site you will see signs in four different
:03:35. > :03:41.languages, like English or Thai. So the merging of ASEAN has already
:03:42. > :03:45.happened. The car industry is a clear beneficiary of this. But this
:03:46. > :03:54.community of ten countries is supposed to become, on January the
:03:55. > :03:56.first, a work in progress. The Australian Government has blocked
:03:57. > :04:04.the sale of the world's largest rider landholding to four
:04:05. > :04:11.investors. -- private. It was founded in 1899 by this man, Sydney
:04:12. > :04:15.Kidman. He has a pastoral lease covering more than 10,000 square
:04:16. > :04:19.kilometres. That is bigger than Ireland and more than 1% of
:04:20. > :04:27.Australia's landmass. What is behind the government's decision? Iceberg
:04:28. > :04:32.to Phil Mercer. The government has brought the sale to two Chinese
:04:33. > :04:37.bidders based on geography and location. -- I spoke. This is a huge
:04:38. > :04:43.area more than 100,000 square kilometres. This property portfolio
:04:44. > :04:46.straddles the states of Western Australia, South Australia,
:04:47. > :04:52.Queensland and parts of the northern territory as well. The government is
:04:53. > :04:59.worried because part of this portfolio falls within a missile
:05:00. > :05:00.testing range in South Australia. -- Northern Territory. There are
:05:01. > :05:11.national security concerns. Also concerns about these dyes. 1.3% of
:05:12. > :05:14.the landmass could have been sold. -- the size. Does this sends the
:05:15. > :05:18.wrong signal to international investors that perhaps the
:05:19. > :05:25.Australian Government is becoming more protectionist, especially with
:05:26. > :05:30.Chinese firms being Australia's largest trading partner. This shows
:05:31. > :05:35.that Australia is still open for foreign investment, but on
:05:36. > :05:39.Australia's terms. Sydney Kidman, the boss of this empire, says that
:05:40. > :05:43.he is very surprised given that there are farms with even more
:05:44. > :05:46.cattle in Australia owned by foreign businesses. Also, there is confusion
:05:47. > :05:57.as well that the port of businesses. Also, there is confusion
:05:58. > :06:04.as well that the port darling in the Northern Territory has been leased
:06:05. > :06:09.to a firm. -- Darwin. But the government insists that foreign
:06:10. > :06:13.investment is crucial to this country's economic development, but
:06:14. > :06:17.as we say, on Australia's terms. Do we know what is coming next? What
:06:18. > :06:23.will happen with the sale of this landholding? It is not one single
:06:24. > :06:28.farm. It is broken into several covering that enormous area we have
:06:29. > :06:32.been describing. What we may see is that smaller bits of the Empire will
:06:33. > :06:38.be broken up to satisfy the government and perhaps those smaller
:06:39. > :06:42.parts could be sold in the future. In other news, over in the US the
:06:43. > :06:46.Obama administration has issued new rules in reducing the tax benefits
:06:47. > :06:53.available to companies that move their tax addresses overseas. It is
:06:54. > :07:00.effective immediately. It could limit the ability is for US firms to
:07:01. > :07:04.set up a new foreign parent company in another country and stuff assets
:07:05. > :07:12.into that company to reduce taxes. -- abilities. The Indian state of
:07:13. > :07:17.Goa is a holiday hotspot. Last year it had more than 4 million visitors
:07:18. > :07:24.coming for its history, beaches, nightlife, or just to relax. But
:07:25. > :07:26.also, gambling. It is one of only three Indian states that allows
:07:27. > :07:33.casino. The industry is tightly restricted and there could be even
:07:34. > :07:42.tougher rules, as talk recently shows. We have been to find out
:07:43. > :07:49.more. Gambling is one of Goa's biggest moneymaker is. That is one
:07:50. > :07:53.reason why tourists come here. -- moneymakers. If you want live
:07:54. > :08:03.casinos with people playing alongside you, you cannot do it
:08:04. > :08:07.onshore. You have to go on a ship on a right to where the action is. --
:08:08. > :08:27.ride. MUSIC PLAYS. does not stop nearly 5000 people
:08:28. > :08:32.coming to these casinos everyday. Games like like Jack are the crowd
:08:33. > :08:36.favourite. -- blackjack. But they say it will struggle to keep growing
:08:37. > :08:42.at less it is allowed to be onshore as well. We will be short of
:08:43. > :08:49.capacity in five years. If we stay in the river, convert one more ship
:08:50. > :08:53.into another, we will grow a bit more, but growing ten times in the
:08:54. > :09:07.next ideas? That is the real challenge. -- next five years. To
:09:08. > :09:15.have multiple resorts and casinos and fill up the place, that is the
:09:16. > :09:20.idea. That seems unlikely. They only allow onshore casinos to run slot
:09:21. > :09:28.machines and horse racing. There is huge political opposition to opening
:09:29. > :09:35.more Basinas. -- casinos. Fears of more gambling is so big that there
:09:36. > :09:41.is even more pressure to ban casinos altogether. But for now, most want
:09:42. > :09:44.to show themselves as more than just somewhere to gamble, also offering
:09:45. > :09:52.food and entertainment. Even though most customers come here to win
:09:53. > :10:00.money, with few places to do this legally, it may become a huge thing
:10:01. > :10:04.for investors. Before we go, a quick look at the markets. In Asia they
:10:05. > :10:10.are all flat at the moment. Taking their cues from Wall Street which
:10:11. > :10:15.saw a flat close. There are concerns about the strength of the yen in
:10:16. > :10:21.Japan. The dollar is retreating somewhat in its seven-month highs We
:10:22. > :10:28.are seeing some losses they are as exporters get sold off. Also, copper
:10:29. > :10:35.prices, a good gauge of the global economy, are at 6.5 year lows that
:10:36. > :10:37.is it for now, thank you for watching Asia Business Report. Back
:10:38. > :10:45.to BBC World News. The suspected ringleader
:10:46. > :10:48.of the Paris attacks is dead.