:00:00. > :00:11.Now on BBC News, all the latest business news live from Singapore.
:00:12. > :00:19.The China threat. Will Donald Trump deliver on his campaign promise to
:00:20. > :00:24.label Beijing as a currency manipulator?
:00:25. > :00:35.And one female train driver breaks the glass ceiling.
:00:36. > :00:44.Welcome to Asia Business Report, I'm Mariko Oi. Republican national
:00:45. > :00:48.convention is Cleveland is due to wrap up with a speech from Donald
:00:49. > :00:53.Trump. That will happen within the next couple of hours. If elected Mr
:00:54. > :00:57.Trump plans to impose massive tariffs on imports from China. He
:00:58. > :01:02.has also announced plans to label Beijing as a currency manipulate. We
:01:03. > :01:06.caught up with his policy adviser at the convention and asked if Donald
:01:07. > :01:11.Trump would follow through on that campaign promise. Barack Obama
:01:12. > :01:15.promised in 2008 on the campaign trail that he would crack down on
:01:16. > :01:23.China. He didn't do that. Donald Trump wheel. China is a currency
:01:24. > :01:27.manipulator. The fact that we owed China over $2 trillion in current
:01:28. > :01:33.trade deficit is evidence of that. It is very realistic. The Treasury
:01:34. > :01:37.Department will do that and Trump doesn't have to go to Congress or
:01:38. > :01:41.anything like that. He has it within his control. That will be done if
:01:42. > :01:46.the Chinese continue to manipulate the currency. Donald Trump doesn't
:01:47. > :01:52.want to impose tariffs on China, but if China continues to cheat in the
:01:53. > :01:57.trading arena we have no other choice but to defend the American
:01:58. > :02:04.people. What about the Trans-Pacific Partnership? Is Mr Trump really
:02:05. > :02:10.going to scrap it? DPP is gone in the Trump world. -- TPP. But that
:02:11. > :02:13.doesn't mean we won't have really good trade agreements with countries
:02:14. > :02:21.in Asia. As a principal, Donald Trump is a free trader. He is also a
:02:22. > :02:26.tough negotiator. He will enter into any trade deal in which our GDP, any
:02:27. > :02:34.growth -- economic growth expands and our trade deficit expands.
:02:35. > :02:42.Simple. Simple. If we can negotiate deals with countries in the world,
:02:43. > :02:45.all those countries will prosper. The plot is beginning. Singaporean
:02:46. > :02:47.authorities are taking action against several financial
:02:48. > :02:55.institutions in the wake of an investigation into the Malaysian
:02:56. > :02:58.state fund 1MDB. They have seized around $77 million in assets and
:02:59. > :03:02.properties from a number of individuals. The announcement
:03:03. > :03:07.followed the US's decision to seize more than $1 billion in assets
:03:08. > :03:12.connected to 1MDB. Could the bank's connection to the scandal dead
:03:13. > :03:17.Singapore's reputation as the south-east Asian financial hub?
:03:18. > :03:22.Earlier I asked someone who consults with a number of banks in the area.
:03:23. > :03:26.The important thing is to know that compliance and risk management,
:03:27. > :03:31.there is no such thing as a perfect solution or a perfect end-stage.
:03:32. > :03:35.There will always be persons or individuals or corporations that
:03:36. > :03:38.look to challenge regulations and controls that tends to work around
:03:39. > :03:42.the rules and see if they can get away with it. So what's important is
:03:43. > :03:46.not the fact that there was a fraudulent activity or breach,
:03:47. > :03:50.what's important is how quickly the banks can bounce back. Would you say
:03:51. > :03:54.the Singapore government has been under pressure from the US
:03:55. > :04:00.authorities and this might actually affect other industries as well?
:04:01. > :04:06.Absolutely. This has just opened up Pandora's box, as we call it. But it
:04:07. > :04:11.isn't a bad thing. There's a reason why not only the MAS are involved,
:04:12. > :04:16.but even the police are involved. It is because they want to investigate
:04:17. > :04:19.how much of the capital has spilt over beyond the financial
:04:20. > :04:25.institutions to other sectors, such as real estate. So we will be in it
:04:26. > :04:28.for the long haul is -- in terms of investigation. Do you think this
:04:29. > :04:33.would impact Singapore's reputation in the long-term? I think it will be
:04:34. > :04:39.great for Singapore. Singapore plays a pivotal role in ensuring it's a
:04:40. > :04:45.beacon of transparency, from governments. The equivalent in terms
:04:46. > :04:50.of legal jurisdictions to New York at London and other major
:04:51. > :04:53.jurisdictions. So foreign firms and institutions that want to comment
:04:54. > :04:57.Asia and take advantage of the growth year want to come and set up
:04:58. > :05:01.their companies in Singapore concert is only jurisdiction in Asia that
:05:02. > :05:05.allows you an equivalent sort of regime and jurisdiction. So
:05:06. > :05:11.Singapore has two really the thing which itself from its neighbours,
:05:12. > :05:15.who are deemed rather as corrupt and politically unstable, and they are
:05:16. > :05:19.taking the right approach in doing so.
:05:20. > :05:24.But what about investor confidence in Malaysia? Earlier I talk --I
:05:25. > :05:29.caught up with a consultant to business and government in the
:05:30. > :05:35.region and asked whether the scandal would dampen Malaysia's reputation
:05:36. > :05:47.as an investor nation. Surprisingly the scandal has had little impact on
:05:48. > :05:50.Malaysia and also on the investment willingness of companies to invest
:05:51. > :05:55.in Malaysia. It is still a relatively good investment
:05:56. > :05:58.destination. It is not that the country is falling apart, the
:05:59. > :06:05.government is still there, things are working. Nothing has changed.
:06:06. > :06:10.In other business news, Starbucks has reported a 4% jump in quarterly
:06:11. > :06:14.sales, but that is short of industry's target. The world's
:06:15. > :06:19.biggest coffee chain says the drop in demand is an anomaly. The firm's
:06:20. > :06:23.chief executive said the company is confident about delivering stronger
:06:24. > :06:27.growth in the future. American car giant General Motors
:06:28. > :06:32.says the UK's decision to leave the EU will cost $400 million due to
:06:33. > :06:36.currency and market disruptions. The comments were made by the world's
:06:37. > :06:39.third biggest automaker as it was the -- revealed a bumper set of
:06:40. > :06:46.results for the second quarter of this year. GM recorded a record
:06:47. > :06:50.profit of $3 billion, driven by strong sales in the United States.
:06:51. > :06:55.Britain's budget airline easyJet is also warning its profits are being
:06:56. > :06:58.damaged by the decline in the value of the British pound after the
:06:59. > :07:03.Brexit boat. That took place about one month ago. -- vote. Passenger
:07:04. > :07:06.numbers are up at the airline is earning less per head. He was one
:07:07. > :07:12.analyst on why easyJet is struggling. EasyJet clearly have a
:07:13. > :07:16.problem. Have announced the fuel costs have on a ?40 million in the
:07:17. > :07:24.four weeks since the Brexit boat. -- vote. But easyJet is very reliant on
:07:25. > :07:32.France, as both a destination and departure point and they are the
:07:33. > :07:41.largest airport into Nice. All airlines will face the fact that
:07:42. > :07:47.fuel has caught up in pound terms. Nice says it will reduce flights to
:07:48. > :07:50.the UK. They say long haul passengers are falling, in
:07:51. > :07:52.particular Americans and people from the far East who are deciding that
:07:53. > :07:56.Europe isn't the place to go this summer.
:07:57. > :08:07.Mumbai is one of the most congested cities in the world, so it is no
:08:08. > :08:14.wonder that the population of --a large proportion of the population
:08:15. > :08:17.uses public transport. Most of the people running this transport are
:08:18. > :08:24.men, but one woman is bucking that trend.
:08:25. > :08:32.TRANSLATION: I drive trains in Mumbai. I am the first and the only
:08:33. > :08:38.woman train driver on the Western Railways line, one of the busiest
:08:39. > :08:43.commuter routes in the city. People are surprised to see a woman doing
:08:44. > :08:47.my job and often ask questions. Children want to know how to become
:08:48. > :08:53.a train driver and sometimes people salute me. It is a great feeling.
:08:54. > :09:02.Driving a train is hard work. You've got to be focused. In a single
:09:03. > :09:06.journey we are carrying five to 6000 passengers and the responsible -- we
:09:07. > :09:11.are responsible for getting around safely.
:09:12. > :09:18.Since I was a child my dream was to do something that was different and
:09:19. > :09:25.challenging. But I never imagined I would get so much attention. On my
:09:26. > :09:34.first day as a train driver between 150 and 200 metre outlets covered my
:09:35. > :09:37.story. -- media outlets. My family has been supportive from the
:09:38. > :09:41.beginning. They knew I wanted to do something offbeat. My parents
:09:42. > :09:44.encouraged me and later my husband and my daughter as well. That's why
:09:45. > :09:52.I can do the job without destruction. -- destruction. Indian
:09:53. > :09:58.society is changing. Parents are more aware of the importance of
:09:59. > :10:01.education for their daughters and girls want to stand on their own
:10:02. > :10:06.feet, so this is good. Nothing is impossible in life. If you know what
:10:07. > :10:12.you want and you work towards it, then you will definitely succeed.
:10:13. > :10:18.Today there is no job that a woman can't do. Women are entering all
:10:19. > :10:24.professions. They should go, make their mark and progress. That's it
:10:25. > :10:26.for this edition of Asia Business Report. Sport Today is coming up
:10:27. > :10:35.next. Donald Trump is poised to accept
:10:36. > :10:40.the Republican nomination for President of the United States
:10:41. > :10:44.at the party's convention in