Browse content similar to 03/03/2016. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:13. | |
The UN imposes tougher sanctions on North Korea and we find out what | :00:14. | :00:22. | |
that means for the country's economy. How India is growing its | :00:23. | :00:27. | |
music industry on mine to beat the Pirates. Welcome to Asia Business | :00:28. | :00:43. | |
Report. United Nations Security Council has approved tough new | :00:44. | :00:46. | |
sanctions against North Korea and that is in response to the recent | :00:47. | :00:51. | |
rocket launch a nuclear test. They will be banned from exporting | :00:52. | :00:57. | |
natural resources, including coal up iron, gold and other metal. There | :00:58. | :01:02. | |
won't be able to sell aviation fuel to North Korea and all important | :01:03. | :01:11. | |
exports will be subject to inspection. This man has his doubts | :01:12. | :01:21. | |
about the impacts. It will have a significant impact on the economy, | :01:22. | :01:27. | |
but these new measures were about maximising the non-proliferation and | :01:28. | :01:31. | |
demilitarisation effort of North Korea rather than maximising the | :01:32. | :01:39. | |
impact on the North Korean economy. These new measures try to maximise | :01:40. | :01:45. | |
non-proliferation efforts, but minimise impact on the North Korean | :01:46. | :01:48. | |
economy. You are saying it will not have much impact, but the UN | :01:49. | :01:52. | |
Security Council says these are tough measures. There is a ban on | :01:53. | :02:00. | |
the commodities, aviation fuels and a blacklist on individuals and banks | :02:01. | :02:08. | |
and companies. Surely these are expected to hurt the economy. Where | :02:09. | :02:12. | |
do you think they will hurt the most? The devil is in the details | :02:13. | :02:22. | |
again. Last night, there are conditions attached to different | :02:23. | :02:29. | |
economic section measures, for example, when it comes to the export | :02:30. | :02:33. | |
of coal and other minerals to China. It says that as long as the export | :02:34. | :02:38. | |
of minerals to China is not related to the nuclear programme it is | :02:39. | :02:46. | |
fine. It is fine you say, so we are expecting there are loopholes that | :02:47. | :02:49. | |
North Korea could take to get around the sanctions? That is right. They | :02:50. | :02:55. | |
need a credible effort to show to the international community that | :02:56. | :02:59. | |
they are making sure that the money earned through these exports is not | :03:00. | :03:06. | |
being diverted to the nuclear programme and it is not going | :03:07. | :03:09. | |
against these measures proposed last night. Mining firms have agreed to | :03:10. | :03:19. | |
pay $1.1 billion in Brazil for damage caused by a Gamba burst last | :03:20. | :03:32. | |
year. -- a dam that. If they fail to pay, the companies will step up. It | :03:33. | :03:37. | |
killed 19 people and caused major damage in south-east Brazil. Earlier | :03:38. | :03:43. | |
I spoke with our south American reporter. It will be paid out and it | :03:44. | :03:52. | |
should not affect the rest of the values operation. The problem would | :03:53. | :03:58. | |
be if the group does not have the funds over 15 years to pay for the | :03:59. | :04:02. | |
damage because that is what was agreed today. They are going to pay | :04:03. | :04:07. | |
a lot of money over the course of 15 years, and if in that case, BHP will | :04:08. | :04:14. | |
have two step up and pay the money. They are announcing their first ever | :04:15. | :04:25. | |
loss. Will this pay at have even worse repercussions that these | :04:26. | :04:31. | |
firms? They are in deep financial trouble long before this accident | :04:32. | :04:35. | |
happened. The company had some good results back in 2011 but since that | :04:36. | :04:41. | |
year it has not been good news and any year this year so far. The | :04:42. | :04:45. | |
problem is that they are selling iron all at a time when it is very | :04:46. | :04:50. | |
cheap. They also produce in Brazil and they expect to get a lot of | :04:51. | :04:54. | |
money abroad, but they don't, because the currency is quite low | :04:55. | :04:59. | |
right now. This accident only as a lot more financial strain to a | :05:00. | :05:02. | |
company that is not looking good for investors. Global stock markets have | :05:03. | :05:09. | |
faced turbulent times recently on the back of China's slowdown. But, | :05:10. | :05:15. | |
one of the regions biggest stock exchange makers, has reported their | :05:16. | :05:19. | |
biggest ever profit. Is due to strong trading volumes for the Hong | :05:20. | :05:24. | |
Kong stock exchange and it actually soared some 54%. It was over $1 | :05:25. | :05:30. | |
billion last year. We spoke to the Chief Executive. Our business is | :05:31. | :05:37. | |
about trading and if more people are trading happily, or they're treading | :05:38. | :05:45. | |
very stressful, as long as they are trading, that is our business. What | :05:46. | :05:50. | |
is the outlook of your year given the continued market and economic | :05:51. | :05:55. | |
uncertainty? This is a tough year and a tough year for everybody. It | :05:56. | :06:01. | |
is challenging and there is no realistic hope that we're going to | :06:02. | :06:06. | |
repeat the kind of record wrecking year that we had last year. I think | :06:07. | :06:10. | |
the last quarter and the first quarter this year clearly indicating | :06:11. | :06:18. | |
a deteriorating market. But I think the market is so bad today that | :06:19. | :06:23. | |
almost all the bad news is that you can think of seems to be reasonably | :06:24. | :06:32. | |
priced into Dave's market. I don't think other people waiting for these | :06:33. | :06:37. | |
jobs. Now the Hong Kong and Shanghai index was forecast strong for 2014 | :06:38. | :06:42. | |
and at what point will that be expanded and a similar project? It | :06:43. | :06:51. | |
will be the expansion of Shanghai in other announcements and that will | :06:52. | :06:56. | |
all happen, most likely, with the launch of the company. There's no | :06:57. | :07:00. | |
point doing this separately. They need to do this simultaneously and | :07:01. | :07:06. | |
push out all the other programme. At this point, we are all pretty much | :07:07. | :07:12. | |
ready and it is up to the Chinese regulators to make a decision to | :07:13. | :07:16. | |
launch in the coming weeks and months we will be hearing something | :07:17. | :07:22. | |
and when we are ready to go. The head of the Hong Kong stock | :07:23. | :07:27. | |
exchange. Piracy is a problem for the music industry everywhere and in | :07:28. | :07:32. | |
India it is stopped the industry generating the cells that you would | :07:33. | :07:35. | |
might expect from a large market. Can the rise of streaming services | :07:36. | :07:40. | |
offering legal access that some are prepared to pay make much of a | :07:41. | :07:46. | |
difference? We have been taking a look from Mumbai. Music is not just | :07:47. | :07:53. | |
this man's passion, it is his career. He has been performing for | :07:54. | :07:57. | |
more than 15 year. While he is well-known for his live shows, | :07:58. | :08:00. | |
recording a telling that music has been a recent thing for him. I was | :08:01. | :08:08. | |
very excited to record music. We were going out doing a lot of wide | :08:09. | :08:12. | |
backs because you could see they are consuming there. It is so simple to | :08:13. | :08:16. | |
record music and in a minute or two you can put it out there. You put | :08:17. | :08:22. | |
your CDs in all the stores in the world. I could most musicians, he | :08:23. | :08:29. | |
does not have a deal with the music label. But the growth of online | :08:30. | :08:35. | |
streaming industries has helped them work independently. I's music | :08:36. | :08:42. | |
industry was worth an estimated $155 million last year, more than half | :08:43. | :08:45. | |
comes from digital forms of music like streaming and download. About | :08:46. | :08:50. | |
20% comes from sales of CDs and vinyl is, a sector that has seen a | :08:51. | :08:55. | |
huge drop in the last few years and the rest comes from payments from | :08:56. | :09:01. | |
music played on radio, television or public spaces. But musicians face a | :09:02. | :09:06. | |
problem. The world of Bollywood doesn't just own film but music as | :09:07. | :09:13. | |
well. All the best selling tunes have been from film soundtracks and | :09:14. | :09:17. | |
so historically it has only been Bollywood music that is made money. | :09:18. | :09:25. | |
Hoping to make a broader range of music popular and profitable, our -- | :09:26. | :09:34. | |
our firms like this one. They are similar to other better and known | :09:35. | :09:44. | |
global names like spot -- Spotify. By offering an affordable | :09:45. | :09:49. | |
alternative than downloading music illegally it expects to grow fast. | :09:50. | :09:54. | |
The mainstream market has the most potential anywhere in the world not | :09:55. | :09:58. | |
only because of the population of India, but the scale of mobile phone | :09:59. | :10:05. | |
sales and smartphone sales. Music tracks with that almost 121. They | :10:06. | :10:13. | |
need to come over the customer reluctance to play for subscriptions | :10:14. | :10:19. | |
if they going to fully realised the country's potential. Very quickly to | :10:20. | :10:25. | |
the markets they are all high here in Asia. That is it for this edition | :10:26. | :10:30. | |
of Asia Business Report. Thank you for | :10:31. | :10:31. |