07/01/2016 Asia Business Report

Now on BBC News all the latest business news live from Singapore.

More economic gloom ahead. The bank slashes its forecast for a global

economy. And a look at how the lack of reporting on cyber security in

Asia is affecting businesses. Hello world and hello Asia. I'm glad you

could join us for this Thursday edition of Asian users -- business

report. Growth may continue to limp along. It predicts that it will grow

of 2.9%. In East Asia and the Pacific growth is expected to slow

to 6.3% largely due to a sputtering Chinese economy. In south Asia it is

a bright spot expected to grow by seven points 3% this year. My

colleague spoke to one of the reporters who said that falling

commodity prices were one of the big drags on global growth. Since 2011,

even metal prices have fallen. All commodity exporting countries are

really feeling the pinch and are struggling to adjust. Talk about a

perfect storm in your report. This is a key risk to global growth. A

number of emerging markets slow at the same time, and we estimate that

a one percentage point decline will slow growth in other emerging

markets I .8 -- .8%. The outlook is growing in this economy down from

6.9% in 2050 26 points seven in this coming year. There are a lot of

uncertainty. There is on Sol property in the city. There is a lot

of debt in this economy and there are uncertainties about the stock

market. Only on Monday, prices on the Shanghai market dropped by 7%.

Last August the government of measures to prop up stock prices.

And some of them are due to expire on Friday. So a slight slowdown in

growth but lots of uncertainties which may yet derail that forecast.

India is being seen as a bright spot in the region. The World Bank

predicts it will grow by seven points eight said in the next

financial year. The two elements working in favour of India are local

prices and an improvement in the Western climate. A lot feel that if

India is to sustain the growth in the long run then issues like poor

infrastructure and tax reforms need immediate attention. In Brazil,

policymakers have been hoping 2016 would be the year that this economy

started to emerge from recession but that is not likely to be the case

according to the World Bank. It is said that it will fall even deeper

into crisis. Both consumers and investors are holding on to their

money because they have no confidence that things will get

better any time soon. One of the reasons for that is political

uncertainty as the president fights against an impeachment process. Is

not clear whether she will have the political capital to push ahead with

her economic reforms. Let us have a look at oil prices and how they are

keen fairing today. We are seeing it at 33.97. The movie streaming

service, Netflix, has gone live throughout the world. It is still

trying to expand into China. The other exceptions are North Korea,

serial and Crimea -- Syria. The shares jumped in the news. Microsoft

would tell its customers if they suspect they are being hacked by

someone working for a government. Many technology companies in this

region, however, and not required to tell customers about any security

breaches at all. Earlier, I asked this man, the chief executive of our

networks if this is why there seems to be so few companies in Asia. I

think part of that is there are limited reports. Would Asia be

better off if customers -- companies went public with these breaches? You

are more likely to take action in order to stop those things for from

occurring in the future and that seems to work that way. It has been

more than a year since the major Sony incident. Why are cyber attacks

taking place so frequently? Have they changed what they do since the

incident? They happen more thing very quickly and part of the problem

is that if we continue to use all fashion technology we can never keep

up with that. Part of it is part of the divergence of using the next

stage technology or using old technology that does detection. The

key is to stay ahead of the curve against the hackers. Is very hard

because it is a technology battle. We have a highly automated

adversarial and we have manual responses. If it is people versus

technology is very hard to stay ahead. Apple shares dropped below

$100 per share for the first time in nearly five months. On Wednesday its

shares recovered some of that ground closing at $100 and 70 cents. Having

lost 2%. It came at the back of slowing shipments of its newest

phones. They failed to decline. Your choice goes towards funding a huge

industry that is growing ever bigger. Especially in Asia. The

Chinese film market is forecast to overtake the US is the largest

within two years. We have been speaking to the executive director

of the Asian film Festival about the challenges of making films in Asia.

I feel it is quite important that we create our own market for our film.

Whether that is able to share our resources and travel to the other

country, that is still an experiment. But the energy and the

willingness to do it is their right now. We realise that we need to have

our films travel out of our country. How tough is it for a film

maker here in Southeast Asia, Malaysia or Singapore to be able to

find investment for their films? Finding funds for a movie is hard

everywhere. Mainly because the business of film does not quite make

sense. One plus one does not necessarily equal two. What you get

the elements right place it an amazing success and could make

history in your own country because our cinemas are still developing. I

suppose that in terms of funding, people are looking for a global

story. I think there is a sense of adventure to try to use cast from

different countries and cinematographers. I think that

collaboration will only grow and make our films better. You were

involved in one of Singapore's most successful movies in recent years

but did very well at the Cannes film Festival. What lessons did you

learn? It was really a magical project that had a life of its own.

I will watch your hair. We were very lucky that it's one a award at the

festival. It also won one at a Chinese film Festival. The Golden

horse award. We were able to hit both markets in terms of the critics

and it translated into commercial success as well. For films you need

to recuperate your budget to see any profits. Before we got here is a

quick look at the market. Asia is retreating on early Thursday trade

after a Wall Street rout overnight due to poor Chinese economic data.

The North Korean nuclear test and tensions in the Middle East. Make

you very much for investing your time with us. Goodbye for now. You

are watching BBC News.