:00:00. > :00:00.Police say there's a real and serious threat
:00:00. > :00:17.Now on BBC News, all the latest business news live from Singapore.
:00:18. > :00:26.Japan's Sharp undertakes a massive restructuring. Is it enough? And
:00:27. > :00:41.sacred cows. India is widening its ban on beef. Hello, Asia, good
:00:42. > :00:48.morning, world. I am Rico Hizon. Thank you for joining us. We start
:00:49. > :00:52.off with Sharp. The giant has been making headlines for the wrong
:00:53. > :00:58.reasons. It is expected to announce a loss of a whopping 3 billion US
:00:59. > :01:04.dollars in the last financial year. They have reached a deal to be taken
:01:05. > :01:08.over by a Taiwanese company. I asked an analyst if they will keep the
:01:09. > :01:14.company together or spit it up when it takes full control this October.
:01:15. > :01:21.That is hard to predict. It depends on how the world develops and the
:01:22. > :01:26.demand. The problem is that Sharp was hit by a reduction of sales of
:01:27. > :01:35.smartphones and a slowdown in China. It was hit by external circumstances
:01:36. > :01:41.in addition to internal trouble. Staying with Japan. Mitsubishi
:01:42. > :01:48.motors and Nissan have confirmed they are in talks for a unison.
:01:49. > :01:56.Nissan will take a one third stake to become the biggest holder of
:01:57. > :02:02.shares. The company admits that it has been cheating on its fuel
:02:03. > :02:10.economy tests for the D5 years. -- 25. Has been a lot of focus on Saudi
:02:11. > :02:15.Arabia and its state oil company Aramco. They will become the
:02:16. > :02:20.world's most valuable company. It produces 10 million barrels of oil a
:02:21. > :02:25.day, one eighth of global supply. The rulers want to diversified the
:02:26. > :02:31.economy. Doesn't mean there will be less oil from Saudi Arabia? --
:02:32. > :02:42.diversify. We report from an if an city. -- from an eastern. Welcome to
:02:43. > :02:48.the empty Quarter. One in every eight barrels of crude oil comes
:02:49. > :02:54.from underneath the sands of Saudi Arabia. It is rare to be invited
:02:55. > :03:01.here. The state-owned oil company and its Chief Executive is on a
:03:02. > :03:06.charm offensive. It is offering up a slice of the world's of valuable
:03:07. > :03:10.company to encourage future foreign investment in other companies. This
:03:11. > :03:13.is the south-eastern outpost of the sprawling empire which now wants to
:03:14. > :03:19.sell a slice off to foreign investors. Why now do they want to
:03:20. > :03:23.sell the family silver, change the oil regime and strategy, and
:03:24. > :03:34.diversified the Saudi economy after all these years? -- diversify. It is
:03:35. > :03:41.to widen the infrastructure -based. Is this because of the arrival of US
:03:42. > :03:46.shale? Is it because we are looking at a future of hydrocarbon and
:03:47. > :03:50.electric cars? Is it worrying that you have so much of this stuff in
:03:51. > :03:56.the ground one day you will not be able to sell it? We have more energy
:03:57. > :04:01.resources coming. Electric cars, renewables, but they are starting
:04:02. > :04:07.from a small race. There are still many challenges. -- small base. Or
:04:08. > :04:13.you'll will play a major part in the world for a long time. -- oil will.
:04:14. > :04:20.These people agree that something has to change. TRANSLATION: The
:04:21. > :04:26.youth have no work even though they have degrees. They stay at home. And
:04:27. > :04:31.older men are retired like us. God willing I want a job in a shop and
:04:32. > :04:36.to get married and have children and later, after I retire, I want them
:04:37. > :04:40.to be comfortable and have a place to live. Make no mistake,
:04:41. > :04:45.diversifying does not mean producing less oil. It will probably produce
:04:46. > :04:50.more this year than last year. Why, when it produces lower prices in the
:04:51. > :04:55.world? It doesn't matter whether they produce them at low prices
:04:56. > :04:58.today because they are not saving it up for high prices tomorrow. They
:04:59. > :05:03.have to continue to produce regardless of the price. That is
:05:04. > :05:09.because, in effect, an you can regard their reserves as Internet.
:05:10. > :05:21.No relief in sight for competitors like the North Sea. -- as infinite.
:05:22. > :05:24.The oil will keep coming. People in men in China are gathering for a
:05:25. > :05:32.competition to test Internet security. -- people in China. These
:05:33. > :05:36.are teenagers from across China meeting here in the gaming capital
:05:37. > :05:41.of Asia, perhaps the world as well, and, as you say, for them, it is a
:05:42. > :05:51.game. This is about breaking rights. -- bragging. For China's
:05:52. > :05:55.Internet giants, though, those that produce platforms and hardware, far
:05:56. > :06:01.more is at stake when it comes to Internet security. Their credibility
:06:02. > :06:05.is on the line and the vulnerability of the product lines is being tested
:06:06. > :06:09.here. I spoke to one of the organisers who is also keen to
:06:10. > :06:16.address the issue of whether China is moving away from this copy in
:06:17. > :06:20.culture and becoming a culture of home-grown innovators. -- copying.
:06:21. > :06:23.When it comes to things like hardware and smartphones, he
:06:24. > :06:28.believes that when it comes to security China has a long way to go.
:06:29. > :06:32.TRANSLATION: From our research results, most of the smart devices
:06:33. > :06:37.have very low safety security. These new companies did not put much
:06:38. > :06:41.investment in terms of security. They are more focused on hardware
:06:42. > :06:46.development and many factoring. -- manufacturing. China has also been
:06:47. > :06:50.in the headlines because they have been accused by some Western
:06:51. > :07:01.countries by hacking into some of their major websites. I asked some
:07:02. > :07:06.people it China has the best hackers in the world. -- if. One person said
:07:07. > :07:11.China is a humble country and he believes it is the Americans and the
:07:12. > :07:15.Israelis that lead the world. But this is proof that China is trying
:07:16. > :07:20.to increase its skill in cyber warfare. One thing I will be
:07:21. > :07:25.interested in is asking some of the competitors if they will be willing
:07:26. > :07:29.in the future to not just share their findings on vulnerabilities
:07:30. > :07:33.with companies like Microsoft and Adobe, but also, the Chinese
:07:34. > :07:38.government. We will see. India is one of the world's largest exporters
:07:39. > :07:44.of beef but with Hindus believing Couser sacred killing them has been
:07:45. > :07:49.banned in the country for a long time. -- cows are. It comes from
:07:50. > :07:52.other types of cattle. But in some states they are broadening the ban.
:07:53. > :08:00.Some of the lowest earners are being affected. We report now from there.
:08:01. > :08:06.Cattle sold at this market used to be in high demand. Customers, mostly
:08:07. > :08:13.butchers, would turn up in huge numbers to buy bulls and oxen to
:08:14. > :08:18.slaughter and sell as beef. It helped them get around the law of
:08:19. > :08:25.killing cows. But last year legislation was widened to include
:08:26. > :08:29.cows likely that all. They rely on these to make a living.
:08:30. > :08:32.Traditionally, farmers would sell their cattle to butchers in a market
:08:33. > :08:37.like this and use that money to live seeds and fertiliser to grow crops.
:08:38. > :08:41.That is ahead of the rainy season which starts in June. Once that is
:08:42. > :08:46.over they would buy them again from the profits earned in the harvest
:08:47. > :08:50.period. The blight has been made worse by years of drought which has
:08:51. > :08:57.made growing crops next to impossible. So, with no money to
:08:58. > :09:00.feed the animals and no water either, many cattle farmers now
:09:01. > :09:06.depend on temporary shelters like this one. MOOING. They have
:09:07. > :09:12.justified the ban saying that balls and oxen are necessary for
:09:13. > :09:18.agriculture. -- bulls. But some politicians want a rethink.
:09:19. > :09:22.TRANSLATION: India is an agrarian society and most farmers rely on
:09:23. > :09:30.cattle for growing farm. All of them know that cows are sacred. But they
:09:31. > :09:33.are of no use when they become old. That is why farmers should be able
:09:34. > :09:38.to sell them to butchers when they are old. Farmers here are getting
:09:39. > :09:46.ready for the monsoon season which they hope will bring rain and some
:09:47. > :09:51.respite. Even if they can grow crops this year, they say only income from
:09:52. > :09:58.livestock will make long-term farming realistic. Before we go, a
:09:59. > :10:07.quick look at Asian markets. Currently it is in negative
:10:08. > :10:13.territory. Macy's earnings providing worries about the industry. The yen
:10:14. > :10:24.is strengthening against the US dollar overnight. The All Ords Index
:10:25. > :10:30.losing 4%. As for Wall Street, the Dow and the NASDAQ losing over 1%
:10:31. > :10:37.overnight. Thank you for joining us us. I am Rico Hizon. -- us. Sport
:10:38. > :10:38.Today is