:00:00. > :00:11.Lots more business news live with Sharanjit.
:00:12. > :00:21.No deal. OPEC fails to reach a deal on production. Will it affect oil
:00:22. > :00:25.prices? And why do so few women in India
:00:26. > :00:29.were? We look at what needs to be done to bring change to a country,
:00:30. > :00:37.where less than one quarter of women are employed. -- India work?
:00:38. > :00:43.Welcome to this Friday edition of Asia Business Report.
:00:44. > :00:47.The OPEC group of oil producing nations has again failed to reach
:00:48. > :00:52.agreement on the production cap at their meeting in the Austrian
:00:53. > :00:57.capital, Vienna. OPEC once exercised considerable market power to
:00:58. > :01:00.influence prices by adjusting the supplier, but it has struggled to
:01:01. > :01:08.impose production ceilings in recent years. The Secretary General
:01:09. > :01:13.defended OPEC's record. The answer the question of whether OPEC is
:01:14. > :01:20.dead, I have heard these comments may be five or six times in my
:01:21. > :01:27.career. Every time I hear... When we left Jakarta on time, I heard OPEC
:01:28. > :01:38.was dead, but OPEC rose again very strong and powerful. OPEC is alive
:01:39. > :01:43.and will be a very important signifier of the economy and the
:01:44. > :01:48.world. That was the OPEC Secretary General. Initially the news sent oil
:01:49. > :01:52.prices lower, but they finished higher because of a fall in US crude
:01:53. > :01:57.inventories. That is have a look at where they are trading now. Light
:01:58. > :02:04.crude is up slightly at $49. Brent crude is over the 50 again. Of
:02:05. > :02:11.course we know that these numbers are about 80% higher than they were
:02:12. > :02:14.in January, when we saw oil prices lurking at $27 a barrel. Of course
:02:15. > :02:21.some of you recall that two years ago oil prices were at $115 a
:02:22. > :02:28.barrel. So where will these prices go next? What impact could OPEC
:02:29. > :02:35.have? That's a question I posed. I was surprised to see the
:02:36. > :02:39.contributory to that the new Saudi minister struck at the meeting. The
:02:40. > :02:48.first thing to highlight is that they con Seve that shale oil still
:02:49. > :02:54.has base to grow. -- they conceive. They believe shale can grow by 200
:02:55. > :02:57.or 300 barrels a day growing forward. He is clearly saying a
:02:58. > :03:06.price of $50 a barrel I'd also be good for investment. -- might also.
:03:07. > :03:13.In Vienna they say OPEC has a very important role and in the future it
:03:14. > :03:17.could still intervene to steer the market. So in the future this could
:03:18. > :03:20.lead to investment and the stability that is needed to develop a capacity
:03:21. > :03:27.that the market will need to meet the band. Surely on production
:03:28. > :03:33.suggests oil prices should go down? -- meet demand. Can you make sense
:03:34. > :03:38.of prices? Where will we go next? There is now a drive behind OPEC to
:03:39. > :03:40.bring unity to the table. We have statements from different ministers,
:03:41. > :03:45.that it was a meeting without tensions. This means that all the
:03:46. > :03:51.animosity that you have seen between Iran and Saudi Arabia has been left
:03:52. > :03:56.behind and we may see that going forward they are ready to come again
:03:57. > :04:02.to the table and, especially in OPEC where political considerations have
:04:03. > :04:05.been avoided, we can see that now again there might pick operation in
:04:06. > :04:13.the future. Especially he said in the interview that the price of the
:04:14. > :04:17.lower range we saw, lower than $30 a barrel earlier this year, is to load
:04:18. > :04:22.the guarantee that investment. So the Saudis are coming back to their
:04:23. > :04:27.traditional policy of investing in capacity and making sure that they
:04:28. > :04:34.can be... That they can have the buffer to deal with any emergencies
:04:35. > :04:44.in the market. In Asia the battle for food delivery is hotting up. In
:04:45. > :04:47.Berlin, one company has expanded to 500 cities and the big challenge is
:04:48. > :04:57.telling the business market to distant destinations. We started
:04:58. > :05:02.with a standardised model across the world and are now much more focused
:05:03. > :05:07.on localisation and adapting the model to the local culture is, which
:05:08. > :05:14.differ across the world. -- cultures. For example, in Moscow
:05:15. > :05:17.delivery by motorbike is not possible. The quickest delivery is
:05:18. > :05:26.by metro. With the car you are always stuck in traffic. In
:05:27. > :05:30.Singapore we have ebikes. So it is a very different set up. And also the
:05:31. > :05:36.marketing side. We have different channels for the marketing that is
:05:37. > :05:41.working. Given how localised each market is, do you feel you are at a
:05:42. > :05:46.disadvantage to local players? No. We have a central team, so we can
:05:47. > :05:49.leverage the cost of prosperity markets. We have a central or
:05:50. > :05:56.marketing team where we can leverage the cost across the markets. So we
:05:57. > :06:00.have a big cost advantage that side. Foodpanda is active in 30 countries
:06:01. > :06:09.around the world. What you do intend to expand. What are your next plans?
:06:10. > :06:14.Indeed. In Eastern Europe, Russia, India, Pakistan, the Middle East and
:06:15. > :06:20.South East Asia. We have expanded for the last four years across all
:06:21. > :06:23.of those markets and for now the focus is clearly on consolidation
:06:24. > :06:26.within those countries and expansion within the countries to more cities
:06:27. > :06:31.and more neighbourhoods, for example Hong Kong. We have been working
:06:32. > :06:37.mainly on Hong Kong island and are now at landing. To cover a greater
:06:38. > :06:41.area, as well as reach new audiences. Tell me about the
:06:42. > :06:48.competition. There is a lot of it. You are competing globally against
:06:49. > :06:52.global competitive is, that also have deep pockets. There are also
:06:53. > :06:59.many local homegrown ones. What is your strategy to stay ahead?
:07:00. > :07:02.Competition is strong, which helps us, because we are at the beginning
:07:03. > :07:09.of a big trend of off-line to online shifting. Currently our biggest
:07:10. > :07:14.competition is the phone. People call a restaurant to order food. For
:07:15. > :07:18.us, online competition helps to grow the awareness and the market and
:07:19. > :07:25.helps to expand the online market further.
:07:26. > :07:28.The co-founder of Foodpanda. Now to India, where less than a quarter of
:07:29. > :07:35.women work. According to the government rate is even lower in
:07:36. > :07:38.urban areas, at just 60%. To try to change that authorities are
:07:39. > :07:42.considering measures such as maternity leave and child-care
:07:43. > :07:43.facilities. But the young female professionals in more by say a lot
:07:44. > :07:55.more needs to be done. Mostly it is because of the mindset
:07:56. > :07:59.of the society. Mental harassment, lack of safety measures. Girls and
:08:00. > :08:04.women aren't taken seriously when they work. They have to prove
:08:05. > :08:10.themselves over and over again. For a girl it is like, OK, you have
:08:11. > :08:15.graduated. You have secured a job. The next thing you should do is get
:08:16. > :08:17.married. But for a guy in that case he is getting enough time to
:08:18. > :08:25.actually pursue his dreams and aspirations. A person actually came
:08:26. > :08:30.up to me and told me that, you know what, it is OK if you don't get it.
:08:31. > :08:34.You don't have to be intelligent, as long as you are pretty. The
:08:35. > :08:39.recruiter told me, you are unfit for this job. I was taken aback. I was
:08:40. > :08:43.like, why am I unfit for this job? He said because it was a sales
:08:44. > :08:49.manager profile. You won't be able to go in the sun and handle the
:08:50. > :08:54.pressure. As soon as I got the job within two months everyone was like,
:08:55. > :08:58.why are you not getting married? Way parents have to face that question.
:08:59. > :09:05.Why isn't she being married off? Is the problem? People from remote
:09:06. > :09:09.areas of India, they are concerned if I am going to work. What happens
:09:10. > :09:14.to my marriage plans? What happens to my real-life? There are people in
:09:15. > :09:20.society where I to keep instigating my in-laws. She is working on
:09:21. > :09:25.holidays! At this moment they have no issues, but even ten years down
:09:26. > :09:31.the line if they listen to the same stuff again and again I am not sure
:09:32. > :09:38.what will happen. Safety is the most important thing for women to come
:09:39. > :09:42.out and work, because where they work safety should be ensured for
:09:43. > :09:46.them in every sense. Yet mental, physical, be it sexual harassment.
:09:47. > :09:51.They should be safe from all this. I would want a workplace that would
:09:52. > :09:57.have affiliation with some child-care centres. But I do not see
:09:58. > :10:00.that in most workplaces. There are very few that have affiliation with
:10:01. > :10:06.such daycare centres. Lots of voices of women. You can
:10:07. > :10:09.hear more on Talking Business this week. We hear from some top
:10:10. > :10:12.corporate leaders in India, regarding what can be done to
:10:13. > :10:16.improve conditions for women at work.
:10:17. > :10:21.To look at the markets. Asian shares are rebounding. We see some gains in
:10:22. > :10:21.the Nikkei, up about 1%. That is really
:10:22. > :10:24.are rebounding. We see some gains in the Nikkei, up about 1%. That is
:10:25. > :10:27.really turning around some of the losses from yesterday. They saw
:10:28. > :10:27.their really turning around some of the
:10:28. > :10:29.losses from yesterday. They saw their biggest daily percentage drop
:10:30. > :10:32.in a month on Thursday. That's it for this edition of Asia
:10:33. > :10:33.Business