Browse content similar to 21/06/2016. Check below for episodes and series from the same categories and more!
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One of Singapore's leading retailers tells us how a vote to leave the EU | :00:17. | :00:22. | |
by the UK could affect businesses in Southeast Asia. And, never mind the | :00:23. | :00:31. | |
human cards, are robots the future of customer service? -- the human | :00:32. | :00:41. | |
touch. Good morning, Asia. Hello, world. I'm in Singapore. This is | :00:42. | :00:43. | |
Asia Business Report. Thank you for investing your time with us. While | :00:44. | :00:46. | |
the UK gets ready to vote, business leaders in Southeast Asia are also | :00:47. | :00:52. | |
keeping a close eye on the upcoming referendum that will determine | :00:53. | :00:56. | |
whether or not the UK will remain in the EU. So, our businesses in the | :00:57. | :01:03. | |
region concerned, all will be impact be limited? -- are. I spoke with a | :01:04. | :01:10. | |
Chief Executive of a furniture and technology retailer. I asked him how | :01:11. | :01:15. | |
it would impact his company's operations in Asia? We have some | :01:16. | :01:22. | |
British brands but it is not an overall majority. We have learnt the | :01:23. | :01:26. | |
lessons from the global financial crisis. Issues that affect the | :01:27. | :01:33. | |
economy in a connected world can spill over quickly. This isn't just | :01:34. | :01:38. | |
about the UK, but the future of the EU. In a world where, as I | :01:39. | :01:42. | |
mentioned, there is the focus on the freedom of movement, goods services, | :01:43. | :01:50. | |
free trade barriers, integration and disintegration, what are the odds | :01:51. | :01:53. | |
of, a worst-case scenario, potentially, if the UK does exit the | :01:54. | :02:01. | |
EU, what are the odds of trade barriers the retroactive? -- be. We | :02:02. | :02:07. | |
have to reflect on the UK's position in the world as an open, tolerant, | :02:08. | :02:12. | |
progressive, and technology-based society. We bring so much to the EU | :02:13. | :02:19. | |
and so much to the world grew EU institutions, it may take 10- 20 | :02:20. | :02:24. | |
years to get those trade deals back. It took two decades to get those | :02:25. | :02:30. | |
individual trade barriers. You ran the British chamber of Commerce. How | :02:31. | :02:40. | |
do you see the difference is changing? In our dealings with | :02:41. | :02:44. | |
Singapore, they wanted to talk to the EU as it representation of | :02:45. | :02:52. | |
ourselves, and Germany, and France, through the EU. That is playing out | :02:53. | :02:58. | |
on a political scale as well We are far stronger as a nation within the | :02:59. | :03:04. | |
EU. The Chief Executive speaking there. Is still on the referendum, | :03:05. | :03:14. | |
Nissan is taking action against the referendum after their logo was used | :03:15. | :03:24. | |
on a pamphlet to leave. Executives from the firms said they would like | :03:25. | :03:29. | |
to remain in the EU. And Walmart is selling its on line claim for a 5% | :03:30. | :03:38. | |
stake in the e-commerce giant. The deal will give Walmart exposure to | :03:39. | :03:43. | |
other parts of China where its on line operation is less well-known. | :03:44. | :03:48. | |
If you like fast machines look at this. It is a new Chinese | :03:49. | :04:01. | |
If you like fast machines look at this. | :04:02. | :04:03. | |
which has topped the list of the world's most powerful | :04:04. | :04:07. | |
It is intended for use in engineering and research as well as | :04:08. | :04:14. | |
data analytics. When Forbes unveiled its first India power business women | :04:15. | :04:19. | |
list this year it was dominated by women who were either born into | :04:20. | :04:24. | |
wealth or have married into it. Is this likely to change as India's | :04:25. | :04:32. | |
economy grows? We put that question to a 31-year-old woman running | :04:33. | :04:35. | |
successful businesses and franchises. She is the daughter of | :04:36. | :04:39. | |
the owner of India's biggest private bank. I already see a positive | :04:40. | :04:46. | |
change already happening. Not to be sounding biased, but there is a lot | :04:47. | :04:53. | |
of funds which are actually looking specifically for women who are | :04:54. | :05:00. | |
leaders. There are things like a commission giving out funds for | :05:01. | :05:06. | |
female leaders and people who are looking to set up education centres. | :05:07. | :05:13. | |
There is the IFC with Goldman Sachs who are actually supporting about | :05:14. | :05:23. | |
10,000 women. They belong to the top of the pyramid. Things are already | :05:24. | :05:27. | |
happening so I am pretty optimistic. You didn't really look for funds to | :05:28. | :05:33. | |
your own start-ups. Your family has a fund set up for you. So far, we | :05:34. | :05:39. | |
are self-funded. But I think eventually, and I think very soon, | :05:40. | :05:44. | |
we will look at a fundraising opportunity and investment | :05:45. | :05:49. | |
opportunity. You have set up businesses, whether it is a laundry | :05:50. | :05:54. | |
service, or a co- working space, how do you start the business you want? | :05:55. | :06:01. | |
The idea of these creations was to look at the new age, game-changing, | :06:02. | :06:10. | |
breakthrough ideas. It worked well in the US. So, I think if we can | :06:11. | :06:25. | |
model it this way, which we are embarking to do, you don't just | :06:26. | :06:30. | |
focus on education but a start-up system. We run a programme with | :06:31. | :06:36. | |
Microsoft where we can help mentor start-ups. We have an investment arm | :06:37. | :06:50. | |
where we look for one to 5 million dollars venture is. -- ventures. I | :06:51. | :06:59. | |
think we are sort of looking towards a more knowledge driven economy. I | :07:00. | :07:08. | |
think training and skill, all of that, it's important. Staying with | :07:09. | :07:14. | |
India, the aviation industry could be one of the biggest companies to | :07:15. | :07:22. | |
receive benefit from new rules. Airlines and defence businesses have | :07:23. | :07:30. | |
been positively affected getting respite from a rule that required | :07:31. | :07:34. | |
30% of what they sold to be sourced from within India. Are robots | :07:35. | :07:41. | |
replacing cars? That is no longer a question but a reality in many | :07:42. | :07:45. | |
industries. More than 1.3 million industrial robots will be in the | :07:46. | :07:56. | |
industry by 2030. They will cost 5 million jobs in 15 major economies. | :07:57. | :08:01. | |
The current leader in automation is South Korea followed by Japan. But | :08:02. | :08:07. | |
China is catching up. The robots they are increasingly interacting | :08:08. | :08:16. | |
with customers. -- there are. MUSIC PLAYS. | :08:17. | :09:32. | |
Hello. Hello. What is your name? Do you have any friends? Yeah. I have | :09:33. | :09:53. | |
many friends. You have friends working in other cities? I do. | :09:54. | :10:10. | |
Beijing? Yeah. Shenzen? OK. Thank you very much. Goodbye. Can we be | :10:11. | :10:15. | |
friends? Yeah. We can. Can I have your phone number? No. Nice to meet | :10:16. | :10:28. | |
you. Nice to meet you too. A quick look at the markets. They are all | :10:29. | :10:35. | |
flat. Slightly lower at the moment. That is it for Asia Business Report. | :10:36. | :10:37. | |
Thank you for | :10:38. | :10:40. |