:00:16. > :00:24.The crude reality. Oil prices reach a new depth. What about the
:00:25. > :00:36.prospects for next year? Looking sunkissed without the risk. The fad
:00:37. > :00:44.taking off in Asia. Hello, and welcome to Asia Business Report.
:00:45. > :00:49.OPEC is one of the most powerful cartels. It has been haemorrhaging
:00:50. > :00:55.hundreds of billions of dollars because of a collapse in oil prices.
:00:56. > :01:02.This week, Brent crude has tumbled, $36 a barrel, at an 11 year low.
:01:03. > :01:09.Could it fall further? We will get an idea today when OPEC releases the
:01:10. > :01:22.world oil outlook. I ask what we can expect. What we anticipate is what
:01:23. > :01:30.OPEC set in 2014 -- said. Short term, until 2019, non- OPEC
:01:31. > :01:35.supplies, Russia, the US, Canada, will lead the supply. From 2040
:01:36. > :01:42.-2040 they believe it will be back to them, they will be the ones doing
:01:43. > :01:51.it. -- 2020 -2040. They will stress on renewables, which is what we
:01:52. > :01:57.expect. The OPEC policy has always been long-term. The theory is trying
:01:58. > :02:01.to keep prices low and maintain production to price out expensive
:02:02. > :02:09.producers, the US shell produces, for instance. -- shale. How dearly
:02:10. > :02:13.has it cost them? Rather than price, we should look at it from the market
:02:14. > :02:19.point of view. This is a war of attrition game. It is not about
:02:20. > :02:25.current prices, not about current losses, but about how much longer
:02:26. > :02:30.this war can be prolonged, and indicators are around what the
:02:31. > :02:35.investments they are trying to make so they can have the war going on
:02:36. > :02:41.until someone blinks. The first one to blink we think will be Russia.
:02:42. > :02:46.And they are already suffering. And the rouble has been devalued. We
:02:47. > :02:52.don't believe the US will be affected drastically. US, yes,
:02:53. > :03:04.investment has been cut down. Oil prices should stabilise after a few
:03:05. > :03:11.quarters. In other news, Nike reports a 20% rise in profits thanks
:03:12. > :03:15.to sales in shoes. The future orders came in stronger than expected
:03:16. > :03:23.thanks to Chinese demand. The shares of the company are the top on the
:03:24. > :03:30.Dow. Boeing has been ordered to pay a $12 billion fine. The regulator
:03:31. > 2:35:37said they failed to meet a deadline to provide fuel tank safety
2:35:38 > 2:35:37instructions to airlines. The strategic investment from a Chinese
2:35:38 > 2:35:37carmaker for Uber, after trying to expand in the most pillars company,
2:35:38 > 2:35:37however, competition is fierce -- populace. Every Christmas there is
2:35:38 > 2:35:37tension between shops and online. Some try to sit on both sides of the
2:35:38 > 2:35:37divide. Spencer Kelly reports from a shop going just one step further.
2:35:38 > 2:35:37This shop in east London might look like an ordinary shop but it is also
2:35:38 > 2:35:37a lab for testing the latest shopping technology. I am sure that
2:35:38 > 2:35:37stores in the street want to be able to do what online shops to and offer
2:35:38 > 2:35:37targeted products at every opportunity. -- do. But in order to
2:35:38 > 2:35:37target more, they need to know more about the target. Look at this.
2:35:38 > 2:35:37Shops are interested in footfall but when you walk in here what you are
2:35:38 > 2:35:37wearing when you walk in is analysed. Yes, apparently, our shoes
2:35:38 > 2:35:37save lots about us, shoes heels, shoe size are some of the software
2:35:38 > 2:35:37look for. At the moment we can look at the gender and whether they are
2:35:38 > 2:35:37coming in alone or with family. When you know who is walking past your
2:35:38 > 2:35:37shop, you can change your shop window to greet them. This is very
2:35:38 > 2:35:37cool! Look at this. This is a real shop display with real objects. But
2:35:38 > 2:35:37in front of it is a transparent LCD screen. This is just a normal LCD
2:35:38 > 2:35:37and they have ripped the backlight off it and replaced it with a big
2:35:38 > 2:35:37white box with stuff in it, which means you can change the display
2:35:38 > 2:35:37depending on the time of day or who is walking past at the time. The
2:35:38 > 2:35:37very latest in shopping technology with Spencer Kelly. It looks like
2:35:38 > 2:35:37lawyers and investment bankers have been kept busy this year because of
2:35:38 > 2:35:37a record number of global deals announced. Mergers and acquisitions
2:35:38 > 2:35:37totalling $4.6 trillion in 2015. Including deals between drug giants
2:35:38 > 2:35:37and beer brewers. Last month, Mariette and Starwood in one of the
2:35:38 > 2:35:37biggest hospitality mergers. Could Consolidation be the way for Hotel
2:35:38 > 2:35:37groups? The president of Hilton has been speaking about how his hotel
2:35:38 > 2:35:37group is adjusting its challenge to stay in the game. We are seeing
2:35:38 > 2:35:37consolidation activity in the industry, it it will be the norm. As
2:35:38 > 2:35:37we saw in China, we saw this happening -- it will be the norm. In
2:35:38 > 2:35:37the industry, Asian players go together with international
2:35:38 > 2:35:37players. I think it is formidable to have great competitors. We focus on
2:35:38 > 2:35:37our 12 strong brands and continue to grow those internationally. Profit
2:35:38 > 2:35:37has jumped 50%, driven by a tax's region. His growth like this
2:35:38 > 2:35:37sustainable? Yes. -- APEC. It will be the strongest growth market in
2:35:38 > 2:35:37the world, looking at the size of India and China. Even with the
2:35:38 > 2:35:37slowing down of the Chinese market, there is Myanmar at Thailand,
2:35:38 > 2:35:37Indonesia. Those markets will grow in order to increase the penetration
2:35:38 > 2:35:37-- Myanmar, Thailand. Other markets are compensating for China's
2:35:38 > 2:35:37slowdown. The Asia-Pacific region will be the growth engine in the
2:35:38 > 2:35:37hospitality region worldwide. In Asia, pale skin has been seen as a
2:35:38 > 2:35:37sign of beauty. Women spent billions each year on products to try to
2:35:38 > 2:35:37whiten their complexions. We know that times are changing. Asians are
2:35:38 > 2:35:37looking to have that sunkissed look without harmful ultraviolet rays.
2:35:38 > 2:35:37Some are trying out spray tans. Aversion to the sun is so intense
2:35:38 > 2:35:37that in some parts it is not unusual to see people on the beach in these
2:35:38 > 2:35:37cover up face bikinis. For generations in Asia are tanned skin
2:35:38 > 2:35:37has been frowned upon, associated with working outdoors in the field.
2:35:38 > 2:35:37Attitudes are changing as the younger Asians see prestige and
2:35:38 > 2:35:37glamour in tanned skin. It gives a healthy glow. Spray tanning enhances
2:35:38 > 2:35:37your complexion. This trend means big business for companies like this
2:35:38 > 2:35:37Singapore mobile business that sprays customers from head to toe in
2:35:38 > 2:35:37their desired shade. It was my desperate need for a spray tan, that
2:35:38 > 2:35:37is how it started. And I had seen a gap in the market. Everybody
2:35:38 > 2:35:37laughed. Friends laughed and said it wouldn't work. No one will be
2:35:38 > 2:35:37interested because we've got the sun and everyone wants whitening. All of
2:35:38 > 2:35:37the moisturiser has whitening, and the deodorant. The reaction was one
2:35:38 > 2:35:37of, I'm not sure that will work. But that has changed. Starting with one
2:35:38 > 2:35:37client, she now has 120 regulars and contracts at clubs and gyms across
2:35:38 > 2:35:37Singapore. Next year she plans to open a salon and set up partnerships
2:35:38 > 2:35:37with hotels in Thailand and Malaysia. It is not only women who
2:35:38 > 2:35:37are spray tan. In the sport and fitness industry, I think we're more
2:35:38 > 2:35:37leaning towards fake tanned bodies, which look sparkling. She puts the
2:35:38 > 2:35:37change to social media and the popularity of world tanned Western
2:35:38 > 2:35:37celebrities -- well tanned. The biggest growth market would be
2:35:38 > 2:35:37within the Asian market. It has increased I would say about 80% in
2:35:38 > 2:35:37the last two years. Whether people want to look like they've just had a
2:35:38 > 2:35:37beach holiday or they are copying bronzed Hollywood stars, getting a
2:35:38 > 2:35:37tan in Asia, at least the spray on kind, is no longer beyond the pale!
2:35:38 > 2:35:37I would rather be on the beach. Let's have a look at the markets
2:35:38 > 2:35:37now, because they're all fairly flat. The Japanese Nikkei is shut
2:35:38 > 2:35:37because of the Emperor's birthday. Some gains in Australia. The Hang
2:35:38 > 2:35:37Seng is slightly up. Taking keys from the US which is quiet ahead of
2:35:38 > 2:35:37Christmas. That is it for this edition of Asia is in
2:35:38 > 2:35:37Christmas. That is it for this edition of Asia is -- Asia Business
2:35:38 > 2:35:37Report. Thank you for watching. Heavy fighting continues
2:35:38 > 2:35:37in Afghanistan's Helmand Province between government forces
2:35:38 > 2:35:37and Taliban militants. There are conflicting reports
2:35:38 > 2:35:38about who's in control