:00:00. > :00:14.Now on BBC News all the latest business news live from Singapore.
:00:15. > :00:21.As the world awaits word from the US central bank chief, we look at how
:00:22. > :00:27.America's economy would cope with higher rates. And as Google's CEO in
:00:28. > :00:36.India heads home, what is the future for the Internet giant in the
:00:37. > :00:40.region? Thank you for joining us. We have been waiting for this for about
:00:41. > :00:44.a year and it is still not certain whether this Wednesday really will
:00:45. > :00:49.be the day. Later in the early hours of the morning in a shop, the US
:00:50. > :00:57.central bank will announce whether or not it will finally raise the
:00:58. > :01:07.cost of borrowing. Now we go to our correspondent. America's car
:01:08. > :01:11.industry is back. Rock-bottom interest rates helps to breathe life
:01:12. > :01:16.back into it. Dealerships like this one in New Jersey are once again
:01:17. > :01:22.buzzing. The economy is coming back in stabilising and that fear factor
:01:23. > :01:28.isn't there. So consequently, they are hitting dealerships and getting
:01:29. > :01:33.what they want. Enjoying life. With the US economy purring rather than
:01:34. > :01:36.roaring back to life, America's central-bank is set to raise
:01:37. > :01:42.interest rates from near zero. Does that make a difference to you? It
:01:43. > :01:47.does but I will make it work. You are always trying to find a good
:01:48. > :01:51.deal and that sort of thing. But will hire rates, which strengthens
:01:52. > :01:56.the US dollar, stamp out America's export revival Weber this company
:01:57. > :02:01.makes wallets, notebooks and a host of other products which it sells
:02:02. > :02:06.around the world. In Canada alone, we have lost out over $125,000 in
:02:07. > :02:09.lost revenue this year simply because the department stores we
:02:10. > :02:14.sell to can no longer afford our products at those costs. Those
:02:15. > :02:18.inside here believe the economy is strong enough to survive a rate
:02:19. > :02:25.hike. Good news and not just in America. US consumers the Atlas to
:02:26. > :02:29.the rest of the world. It still doesn't have the brace of credit
:02:30. > :02:32.that it once did and it is not as strong as it once was to carry the
:02:33. > :02:39.rest of the world but the rest of the world is certainly looking
:02:40. > :02:46.forward to selling many of their products to the US and that will
:02:47. > :02:51.continue in 2016. The economy has recovered but it has taken a long
:02:52. > :02:53.time and now here we are, the widely expected interest rate rise will not
:02:54. > :02:58.necessarily be followed by more in the near future but it is a
:02:59. > :03:11.validation of America's returned to some kind of prosperity. -- return.
:03:12. > :03:15.We're speaking to an economist about this. We have all been preparing for
:03:16. > :03:20.this for a long time and most investors are now expecting this.
:03:21. > :03:24.There will be some investors who are not, who will be surprised by it and
:03:25. > :03:27.there are many companies in particular that have got themselves
:03:28. > :03:31.overexposed US dollar debt while they have been taking advantage of
:03:32. > :03:36.the low interest rates. Probably making borrowing 's that are not
:03:37. > :03:40.sustainable and they will struggle as interest rates go up. But we have
:03:41. > :03:43.had a very low interest rates go up. But we have had a very low interest
:03:44. > :03:49.rate environment in Asia, that using has been continuing in countries
:03:50. > :03:54.like China over the past year -- easing. What will this mean for
:03:55. > :03:57.monetary policy? You can see the difference in Asia between those
:03:58. > :04:01.companies that have been getting policy right in the last couple of
:04:02. > :04:04.years and those that have not. Some poor performers like Indonesia have
:04:05. > :04:08.been forced to keep monetary policy to keep monetary policy too tight at
:04:09. > :04:11.a time when while other economies like India that have been putting
:04:12. > :04:15.themselves in a better position, have been able to lower interest
:04:16. > :04:19.rates and not be held up by the US so much. And the inflation rate in
:04:20. > :04:23.the US seems to be rising just with the latest numbers that came out.
:04:24. > :04:28.That is why there seems to be more pressure now on the Fed to raise the
:04:29. > :04:34.cost of borrowing. Could Asia import this rising price from the US? Asia
:04:35. > :04:38.is going to be importing them from the world. They are the key driver
:04:39. > :04:46.behind US inflation now, the change in the oil price. It fell by 40 -50%
:04:47. > :04:50.around this time last year and that is when the numbers fell off the
:04:51. > :04:52.annual figures. We can except the inflation rates to pick up
:04:53. > :05:00.everywhere as that effect disappears but even apart from that, US core
:05:01. > :05:09.inflation is just under 2%. It is certainly not the case for near zero
:05:10. > :05:12.interest rates in a case. In other business news making headlines, the
:05:13. > :05:20.list of the world's wealthiest women have long featured the likes of the
:05:21. > :05:23.L'Oreal heiress and members of the Walmart family but self-made
:05:24. > :05:27.billionaires from China, Hong Kong and India are now leading the charge
:05:28. > :05:31.and one of them is this woman that you see on our screens. The Chinese
:05:32. > :05:36.poverty developer. She features in the new global wealth report from
:05:37. > :05:41.UBS bank which found from the number of females on the list, it has
:05:42. > :05:46.increased sevenfold in the past two decades. Profits in product have
:05:47. > :05:52.fallen by more than a quarter in the nine months since October. That is a
:05:53. > :05:57.drop of close to $234 million. The weaker Chinese currency following
:05:58. > :06:02.their detail you a -- their devaluation of their currency this
:06:03. > :06:11.year is responsible. The Australian and British arms of the pizza giant
:06:12. > :06:16.Dominoes are working together to purchase a franchise in Germany. It
:06:17. > :06:21.will create the largest pizza delivery group in Germany. Shares in
:06:22. > :06:26.Australia's Dominoes enterprise has soared under this development. The
:06:27. > :06:37.world Internet for him is kicking off in China, home to the most
:06:38. > :06:45.Internet users in the world -- forum. The market is tightly managed
:06:46. > :06:50.but one of those attending is Jack Ma, found of Alibaba. He gave his
:06:51. > :06:54.view on where China's Internet potential lies. TRANSLATION: The
:06:55. > :07:00.majority of Chinese are living in rural areas and that is a great
:07:01. > :07:04.opportunity. With no Internet, they can hardly appreciate its potential.
:07:05. > :07:08.Chinese farmers all have a phone in their hands, even before they really
:07:09. > :07:15.know what a computer is and the point is, most mobiles can function
:07:16. > :07:19.as computers so if we can reform the economy with the means of production
:07:20. > :07:22.rural areas, would e-commerce technology, we will make a great
:07:23. > :07:32.contribution to our country -- with. Google is targeting India. Its
:07:33. > :07:38.top executives including this man, the company's Indian born chief
:07:39. > :07:41.executive will be in India today. The firm is expected to reveal
:07:42. > :07:45.initiatives for customers in developing nations. Most users in
:07:46. > :07:49.India use low-cost smartphones and Google wants to increase the
:07:50. > :07:54.Internet access in this fast expanding market. Our correspondent
:07:55. > :07:58.caught up with the Google executive to find out how the firm plans to do
:07:59. > :08:06.this. We have to work with our partners to bring high-quality and
:08:07. > :08:09.activity. We also think about how to monitor our products so that they
:08:10. > :08:13.are much better when there is a lack of connectivity or even when users
:08:14. > :08:17.are off-line. We launched YouTube off-line last year for example and
:08:18. > :08:21.it has been heavily used across India. We launched Google Maps
:08:22. > :08:24.off-line a while back which is working brilliantly. We have a
:08:25. > :08:31.transit app that also works off-line. You launched a low-cost
:08:32. > :08:36.device in India last year but the android one didn't really receive
:08:37. > :08:40.that kind of reaction you expected. Have you been disappointed? We
:08:41. > :08:44.not disappointed. The real reason for us doing that was that we wanted
:08:45. > :08:51.to play a catalytic role in making the system much better, so we
:08:52. > :08:54.started it in India last year and have now expanded to over 120
:08:55. > :09:00.countries and it is doing very well in many places but really the goal
:09:01. > :09:03.of our success in the Android launches what happens when you walk
:09:04. > :09:11.into a store in Delhi today. You will see many more programmes
:09:12. > :09:18.offering the Android. Also free updates. This was not the case a
:09:19. > :09:20.couple of years ago. Does the India experience really allow you to roll
:09:21. > :09:27.out these products better across the world? In many ways we see India as
:09:28. > :09:34.establishing the way users in Southeast Asia, in Africa
:09:35. > :09:37.America use the Internet. The context is the same. Connectivity is
:09:38. > :09:45.a challenge, price is a challenge, the amount you pay for conductivity
:09:46. > :09:48.is a challenge, so when we launched YouTube off-line here in India
:09:49. > :09:56.first, we were able to bring it to many other countries and we saw very
:09:57. > :10:05.similar results. Before we go, here is a quick
:10:06. > :10:10.come out waiting for that decision on the cost of borrowing. The Nikkei
:10:11. > :10:20.is nearing the results of Wall Street overnight -- mirroring. The
:10:21. > :10:26.Hang Seng is up. On Wall Street, triple digit gains for the Dow Jones
:10:27. > :10:30.industrial average. Thank you for investing your time with us. Bye-bye
:10:31. > :10:38.for now. Our top story: A BBC team travelling
:10:39. > :10:43.to islands in the South China Sea has witnessed large-scale
:10:44. > :10:46.destruction of a reef by Chinese