:00:00. > :00:15.Now on BBC News, all the latest business news, live from Singapore.
:00:16. > :00:23.On hold. The Federal Reserve stands back on interest rates because of
:00:24. > :00:30.weak growth and the possible impact of a British expert. Mickey Mouse
:00:31. > :00:36.has set up base in Shanghai. Will be $5.5 billion investment be a hit? --
:00:37. > :00:38.the. Good morning, Asia. Hello, world. I'm Rico Hizon. This is Asia
:00:39. > :00:46.Business Report. Thank you for investing your time with us. It is
:00:47. > :00:52.Thursday. We start with the US Federal Reserve. They have left
:00:53. > :00:57.interest rates on hold. It is not in a hurry to increase them. They
:00:58. > :01:08.expressed concern over weak US jobs growth and the possible impact from
:01:09. > :01:14.Brexit. Recent economic indicators have been mixed, suggesting that our
:01:15. > :01:21.cautious approach to adjusting monetary policy remains appropriate.
:01:22. > :01:27.As always, our policy is not on a preset course. If the economic
:01:28. > :01:34.outlook shifts, we will shift correspondingly. Earlier, I spoke to
:01:35. > :01:40.Krishnan Tshwane on the impact on markets. No one was surprised by the
:01:41. > :01:45.fact that the rates have been put on hold. There is an indication that
:01:46. > :01:48.they have been put up again this year slowly but surely, but not at
:01:49. > :01:53.the pace we expected when the central bank in the US had said it
:01:54. > :02:00.is the end of the virtually low interest rate environment. We have
:02:01. > :02:05.to start weaning ourselves off cheap money and seeing interest rates go
:02:06. > :02:08.up. The trouble is that the world and US economy are in a far more
:02:09. > :02:12.precarious condition than they were back in December when the interest
:02:13. > :02:16.rate environment started to rise. What you are seeing now is global
:02:17. > :02:23.uncertainty increasing especially over factors like Brexit. That was
:02:24. > :02:29.mentioned in the press conference after the official statement. This
:02:30. > :02:34.is spooking many investors? It is. We have seen it happen over the last
:02:35. > :02:40.couple of days. Investors are flocking to safe haven currencies,
:02:41. > :02:44.like the yen, here in Asia. That has put the spotlight on another central
:02:45. > :02:48.bank out here in the last couple of days from Wednesday. In fact, the
:02:49. > :02:53.Bank of Japan has been meeting and assessing what to do about the
:02:54. > :02:56.strength of the yen because it has been strengthening as a result of
:02:57. > :03:01.investors looking for safe havens. Putting Brexit a side. With the
:03:02. > :03:07.Federal Reserve sitting on monetary policy at this point, as it also
:03:08. > :03:13.benefited many Asian economies? They would rather see a central bank not
:03:14. > :03:19.moving on interest rates rather than raising the cost of rowing. Yeah.
:03:20. > :03:23.That is true. -- borrowing. Asian economies benefited from the zero
:03:24. > :03:29.interest-rate environment in the US. Billions of dollars worth of foreign
:03:30. > :03:33.funds pumped money into the Malaysian currency, for example, and
:03:34. > :03:39.they really benefited from this. The problem is not the fact the US is
:03:40. > :03:44.not raising interest rates right now, but what it tells you about the
:03:45. > :03:48.environment we are in in terms of the global economic uncertainty.
:03:49. > :03:51.That is why, whether you are in Asia or the US, the outlook for the
:03:52. > :04:00.economy all over the world is looking pretty grim. A la Asia
:04:01. > :04:05.Business Report correspondent. -- our. Civil Aviation Authority is our
:04:06. > :04:09.shaking up the rules. Bolstering competition and connecting more of
:04:10. > :04:13.the country. A role has been scrapped stopping airlines being in
:04:14. > :04:20.business for five years before becoming international. -- rule. No
:04:21. > :04:25.passengers taking flights around India than ever before. -- more. It
:04:26. > :04:31.is great news for the country's airlines. And on Wednesday, they got
:04:32. > :04:39.another boost when it got easier for Indian carriers to frying abroad. --
:04:40. > :04:45.to fly. A rule stopping anyone who has not flown for five years going
:04:46. > :04:50.international has been scrapped. Companies like AirAsia still must
:04:51. > :04:58.have at least 20 planes in their fleet, meaning the weight to fly
:04:59. > :05:06.those more lucrative journeys goes on. -- wait. TRANSLATION: On the
:05:07. > :05:11.whole it is a positive policy that will promote growth in India. After
:05:12. > :05:17.turbulent times, some Indian airlines made profits in 2015 after
:05:18. > :05:26.a fall in crude oil Reifers meant cheaper jets fuel. The number was
:05:27. > :05:30.three times that growth here. That makes India one of the
:05:31. > :05:33.fastest-growing aviation markets in the world. But flying here is not
:05:34. > :05:41.cheap. The government wants to change that by making a slight small
:05:42. > :05:48.affordable and accessible. -- air flights. The new policy promises to
:05:49. > :05:52.make fares cheaper. Capping our long flights at $42. -- hour-long. In
:05:53. > :06:01.such a vast company oh country, they have promised new airports as well
:06:02. > :06:08.as the bigger she country. If we can have a 22% growth rate with 15 main
:06:09. > :06:13.cities imagine if I bring, you know, another 50 or 100 cities into the
:06:14. > :06:22.network, how much growth would happen? Counting fares. The
:06:23. > :06:31.government will be looking for signs that this policy will help the
:06:32. > :06:36.industry take off. BBC News, Delhi. Disney has entertained over 1000
:06:37. > :06:43.ominous party officials in Shanghai as it prepares to open its first
:06:44. > :06:47.theme park in Shanghai. It has been described as the biggest step the
:06:48. > :06:51.company has ever taken. But there has been criticism in the Chinese
:06:52. > :07:00.media about the price visitors have to pay. We were there. It looks like
:07:01. > :07:05.Disney, with that castle anchored in the centre. It feels like Disney, an
:07:06. > :07:11.escape from the real world. And it sounds like Disney! Welcome to
:07:12. > :07:17.Shanghai, Disney. But this park is different. This time, Mickey Mouse,
:07:18. > :07:24.is Communist Party approved. This was the latest meeting between the
:07:25. > :07:29.president, Xi Jinping, and the company's Chief Executive. The
:07:30. > :07:32.Communist Party chief has already been to three Disney parks,
:07:33. > :07:40.apparently. It has taken $5.5 billion, but now the executive has
:07:41. > :07:43.his park and it is ready for visitors. Everything they see and
:07:44. > :07:49.experience, the attractions, the food, the entertainment, down to the
:07:50. > :07:52.smallest level of detail, is instantly recognisable, not only as
:07:53. > :08:01.authentically Disney, but as distinguish I need is. But, it --
:08:02. > :08:07.Chinese. But it comes at a price. They refused to let us have and
:08:08. > :08:15.interview. Is just for rich people? I don't want to talk about it. For
:08:16. > :08:21.some of the 10,000 staff behind the scenes, a day at Disney is beyond
:08:22. > :08:25.their reach. A day for the show would be more than the monthly
:08:26. > :08:33.income in China. This person told us he was happy with his pay. Butty
:08:34. > :08:39.couldn't talk about it. Said it wasn't convenient to discuss. -- but
:08:40. > :08:42.he. Disney is unapologetic about its high-end food prices. It is all
:08:43. > :08:52.about a battle for the richer look last. The home-grown mega firm is up
:08:53. > :08:57.for it. It has opened a home-grown theme park just two weeks ago in the
:08:58. > :09:04.region. Disney thinks it will tempt people with its authentic offering.
:09:05. > :09:10.And there are lots to tempt. 330 million within a few hours loop is
:09:11. > :09:19.drive. Is it the real thing? -- hours'. Disney has gone through a
:09:20. > :09:25.long road to change to be unique to Shanghai. But the radical difference
:09:26. > :09:27.is behind the scenes. This is a joint-venture. Disney is in business
:09:28. > :09:33.with firms owned by the Shanghai government. That makes lots of
:09:34. > :09:39.profits. It is a distinctly Chinese arrangement in an authentically
:09:40. > :09:46.Disney setting. BBC News, Shanghai. And, of course, tomorrow, on Asia
:09:47. > :09:49.Business Report, we will get taking a look at whether the theme park in
:09:50. > :09:56.Shanghai will draw visitors await from China's other Disneyland across
:09:57. > :10:02.the border in Hong Kong. -- away. Watch out for that. A quick look at
:10:03. > :10:08.the markets. A mixed sentiment about Asian investors in early Thursday
:10:09. > :10:18.trading. This is after the central bank kept business -- interest rates
:10:19. > :10:22.unchanged. The Nikkei is bothered by the stronger yen against the US
:10:23. > :10:33.dollar and the meeting from the Bank of Japan. The All Ords Index is up.
:10:34. > :10:34.There is relief for them that the Federal Reserve did not raise