:00:00. > :00:07.on flood defence work south of the border in and around York.
:00:08. > :00:15.Now on BBC News all the latest business news live from Singapore.
:00:16. > :00:28.Jelly car ban: cars taken off the row to reduce pollution, but will
:00:29. > :00:39.take a difference? And, we look at the latest technology trends --
:00:40. > :00:47.Delhi. Happy New Year, glad you could join us for this Monday
:00:48. > :00:54.edition of Asia Business Report. It is Monday morning in Delhi and only
:00:55. > :00:58.vehicles with license plates ending in an even number can be on the
:00:59. > :01:04.road. It is the start of a two-week trial to cut pollution levels.
:01:05. > :01:08.Schools and businesses have closed in anticipation of the total chaos.
:01:09. > :01:13.Tomorrow, only odd-numbered vehicles will be allowed. The city has an
:01:14. > :01:20.estimated 8.5 million cars on the road, and it is thought that grows
:01:21. > :01:27.by an incredible 1400 everyday. We often hear about that dreadful air
:01:28. > :01:33.quality in China, but Delhi holds the unenviable title of the world's
:01:34. > :01:40.most polluted city. Holding up these cards, volunteers
:01:41. > :01:44.remind drivers to follow the new experiment, in a bid to curb
:01:45. > :01:48.alarming levels of pollution. Private cars with even an odd
:01:49. > :01:54.numbered plates are being allowed on alternate days. Government has
:01:55. > :01:57.closed schools and diverted buses to ease the extra pressure on the
:01:58. > :02:03.public transport network. But what do people make of it? We need
:02:04. > :02:10.desperate measures like this, it is a good move. Anyone caught flouting
:02:11. > :02:14.it should be fined heavily. If you look at this pollution metre set up
:02:15. > :02:17.outside the Delhi Secretariat, you will understand why the city needs
:02:18. > :02:25.drastic measures to improve air quality. Many people question the
:02:26. > :02:29.effectiveness of this, given the number of people who are exempt,
:02:30. > :02:52.especially over 5 million two wheelers who can contribute heavily.
:02:53. > :03:02.The web-based taxi service Uber has a special service to fill cars that
:03:03. > :03:07.have few passengers. There are several seats in each car, and only
:03:08. > :03:11.two people. That is three cars that can be taken off the road. We can
:03:12. > :03:16.lead people who need rights to these empty seats, and that will solve a
:03:17. > :03:21.problem. Capital city is not alone. India has 13 of the world's 20 most
:03:22. > :03:28.polluted cities, the WHO reported last year. If this experiment
:03:29. > :03:34.succeeds, the hope is that other Indian cities may take to it as
:03:35. > :03:43.well. In other business news, Kia motors
:03:44. > :03:49.reported flat sales last year, which is the first time it missed annual
:03:50. > :03:52.targets since 2008. The South Korean auto giant has been struggling in
:03:53. > :03:57.recent years, with Japanese and American rivals making a comeback in
:03:58. > :04:02.the US, while demand is slowing in China and other emerging markets.
:04:03. > :04:09.But they expect sales to bounce back, thanks to tax cuts on small
:04:10. > :04:12.vehicles. China looks set to have a muted start to 2016 after timidity
:04:13. > :04:17.in the manufacturing sector contract that fought the sixth straight
:04:18. > :04:27.month. There was a slight improvement on the previous month,
:04:28. > :04:30.but it was below expectations. Despite China's economic slowdown,
:04:31. > :04:38.investment in the country's railways only grew last year. $126 billion
:04:39. > :04:41.was spent on rail projects in 2015. This new high-speed rail service has
:04:42. > :04:49.become one of the latest to start operations. China now has 19,000
:04:50. > :04:53.kilometres of high-speed track. 2015 may well be remembered as the
:04:54. > :04:57.year where Asian countries really stepped up to the global stage.
:04:58. > :05:06.Chinese technology brands continue their phenomenal growth, and Asia's
:05:07. > :05:18.love affair with these applications went even deeper. Steve McGuinness,
:05:19. > :05:22.who heads up a grand consultancy company, believes 2016 will be a
:05:23. > :05:26.good year for the regional brands. For the first time there is a
:05:27. > :05:31.combination of three big fat is. The opening up of the ASEAN economic
:05:32. > :05:35.community, the level playing field that e-commerce gives all the global
:05:36. > :05:38.brands and the smaller brands to fight on an even playing field, and
:05:39. > :05:42.also the growth of the emerging market brands working closely
:05:43. > :05:51.selling to other emerging markets. You have these big brands like
:05:52. > :05:56.Alibaba and Huawei, they have strength in social media, but the
:05:57. > :06:00.big question is making it did in the Western world, in America and
:06:01. > :06:05.Europe. But do they need to make it big in the Western world and Europe?
:06:06. > :06:11.The opening up of the ASEAN market is millions of consumers. If you
:06:12. > :06:17.look at Alibaba, they dominate what they do in China, but this year they
:06:18. > :06:22.are launching their streaming movies and TV channel, which will go
:06:23. > :06:26.head-to-head with Netflix, and China is already the second biggest movie
:06:27. > :06:34.market in the world. Do they need to go battling in the West when in fact
:06:35. > :06:36.by merely playing on their understanding, positioning and
:06:37. > :06:43.dominance where they are, has already made them one of the biggest
:06:44. > :06:53.brands in the world. We also have big brands here in the region,
:06:54. > :07:01.particularly in Singapore, can they make it big in Asia and the world?
:07:02. > :07:05.Absolutely, they already understand the consumer. They understand the
:07:06. > :07:08.Diamond consumer, which is the largest growth market and segment in
:07:09. > :07:11.the world. They understand what people want, how to sell to them,
:07:12. > :07:16.and they already have a local following.
:07:17. > :07:19.No doubt many of you were lucky enough to get a new bit of
:07:20. > :07:23.technology this Christmas. The brains behind it are likely to be
:07:24. > :07:28.heading to the annual consumer electronics show. Much of the talk
:07:29. > :07:33.is about virtual reality, look at this guy with this big thing on his
:07:34. > :07:39.face! And how it might change our lives in the real world. We take a
:07:40. > :07:46.look at what virtual reality is doing so far.
:07:47. > :07:49.In a freezing seller with fake snow under feet I am inching across a
:07:50. > :07:54.crevasse on my way up the world's highest peak. I am getting a demo of
:07:55. > :08:01.Everest, a virtual reality game due out later this year. The headsets
:08:02. > :08:10.and software that deliver VR have come a long way in the last few
:08:11. > :08:19.years. Now, the manufacturers believe gamers are ready to invest
:08:20. > :08:21.themselves in virtual reality. It is a natural progression. It is all
:08:22. > :08:25.about trying to immerse us as much as possible. The next thing is
:08:26. > :08:29.taking us into a virtual environment and locking out everything else so
:08:30. > :08:34.we are focused on exactly what they are trying to tell us. In Kings
:08:35. > :08:38.College Hospital in south London, patients on the children's ward are
:08:39. > :08:44.getting their first VR experience, using this simple cardboard headset.
:08:45. > :08:48.They are taking a virtual tour of the Dulwich picture gallery, one of
:08:49. > :08:54.a number of museums hoping to reach a large amount of people with this
:08:55. > :08:59.experience. You kind of get the feel of being there and seeing all the
:09:00. > :09:06.paintings, it is really cool. Getting into a lift, especially one
:09:07. > :09:10.as old as this, can be a scary experience for some people. Could
:09:11. > :09:15.virtual reality help them to get over their phobia? I have come to
:09:16. > :09:21.see how some psychologists are working with the technology. They
:09:22. > :09:25.have developed a programme that allows patients to try out the
:09:26. > :09:32.experience of getting into a lift. Challenges are you feeling at the
:09:33. > :09:36.moment? About seven. It is not the real world, but I call it a visual
:09:37. > :09:40.experience. You feel your heart beating faster, you sweat, you're
:09:41. > :09:44.creeping changes, you get a physiological reaction that you
:09:45. > :09:49.don't get into 2-D environment. Let's see if it has worked for
:09:50. > :09:55.Helena. I'm quite proud that I'm doing this! You should be proud. Do
:09:56. > :09:59.you think the virtual reality thing has helped that all? Honestly, I
:10:00. > :10:04.would have been taking the stairs about a month ago.
:10:05. > :10:13.Before we go, a quick look at the markets. It is a New Year and a new
:10:14. > :10:20.trading week for Asia. It is currently mixed, with Japan and Hong
:10:21. > :10:28.Kong in negative territory by three points. This is after Wall Street
:10:29. > :10:43.closed for the day in negative territory.
:10:44. > :10:46.Saudi Arabia has cut diplomatic relations with Iran
:10:47. > :10:49.amid worsening tensions following the execution by Riyadh