:00:00. > :00:00.Now on BBC News, all the latest business news live from Singapore.
:00:07. > :00:24.A dramatic launch for Samsung's latest tablet. We find out what
:00:25. > :00:31.reception it got. And what will happen to the cost of going to the
:00:32. > :00:35.chemist? We look at access to India's pharmaceutical market. Good
:00:36. > :00:37.morning, Asia. Hello, world. This is Asia Business Report. I'm Rico
:00:38. > :00:49.Hizon. Thank you for investing your time with us. This is the midweek
:00:50. > :00:58.edition. We start off with Samsung. They have entered a new galaxy. The
:00:59. > :01:05.South Korean firm revealed this, the latest, the Samsung Galaxy seven.
:01:06. > :01:13.They are trying to build momentum before their competitors bring up
:01:14. > :01:21.their ones next month. What can be Samsung Galaxy do? -- the. We have
:01:22. > :01:27.more. Technology, definitely. Drama, of course. Cinematic unveilings have
:01:28. > :01:35.become standard for new technology products. Samsung is so different,
:01:36. > :01:42.releasing the Galaxy Note 7. It now has a key iris scan, the pen is more
:01:43. > :01:47.precise, and you can charge it wirelessly. This is the newest
:01:48. > :01:53.addition in their line of attacks. They have had one of their best
:01:54. > :01:59.quarters in two years. That is helped by smartphone sales. It is
:02:00. > :02:03.predicting the rest of the year will see even more sales of these kinds
:02:04. > :02:09.of phones. That is in stark contrast to one of their biggest competitors.
:02:10. > :02:13.Apple has seen iPhone sales drop by 15% in the last quarter. And the
:02:14. > :02:18.outlook for the next three is no better. When you look at consumers,
:02:19. > :02:23.they are most loyal to Samsung. They are the most satisfied of any
:02:24. > :02:31.smartphone consumers on the market. We want to be true to the Note
:02:32. > :02:37.consumers and to bring in more people to let them dry. Samsung
:02:38. > :02:42.believes it can buck the trend of Samsung sales by improving on one of
:02:43. > :02:48.their greatest hits. That report in New York. Investors are paying close
:02:49. > :02:51.attention to Rio Tinto, one of the largest mining companies in the
:02:52. > :02:56.world, releasing their results today. Falling prices causing
:02:57. > :03:01.different results are getting tighter. They are being forced to
:03:02. > :03:07.reform. I asked what they are expecting. We are expecting the
:03:08. > :03:13.profit numbers to come in around 1.6 billion, slightly higher than the
:03:14. > :03:19.consensus estimates. They are looking for a diffidence of 40%.
:03:20. > :03:24.What is the reason for this rise of numbers? First and foremost I think
:03:25. > :03:31.it is to do with their cost out story they embarked on with their
:03:32. > :03:33.2016 results. They wanted $30 billion out of their cost of
:03:34. > :03:40.operations. That has had some success. They will be giving a
:03:41. > :03:45.further update this afternoon. Another factor and an important one
:03:46. > :03:52.is that oil prices have recovered rum $38 last year. It is now $60 per
:03:53. > :03:57.barrel. What about the slowdown in the Chinese economy? Why isn't this
:03:58. > :04:03.having an impact on their numbers for the half-year? They have gone
:04:04. > :04:06.quiet on that story. We have had Brexit and US interest rates and
:04:07. > :04:10.other interesting things. But that is the overarching and dominant
:04:11. > :04:16.factor that will impact companies like Rio Tinto and BHP. The further
:04:17. > :04:23.slowdown in China, consuming a billion times of iron ore per annum,
:04:24. > :04:31.will be very bad. Looking ahead to the next half year, can they sustain
:04:32. > :04:36.this kind of growth? It is not so much the growth investors should be
:04:37. > :04:40.focusing on, but they are continuing cost out story. The commodity
:04:41. > :04:44.prices, which we will face issues with because of the slowdown in
:04:45. > :04:48.China, it is about how low you can get your cost. It is about
:04:49. > :04:56.consolidating the balance sheets, not cost. I think the new CEO will
:04:57. > :05:00.continue in that vein. From the Australian Stock Report. Foreign
:05:01. > :05:04.direct investments in Thailand have collapsed in the first six months of
:05:05. > :05:08.the year. According to the Central Bank of the country, they fell more
:05:09. > :05:11.than 90% of value to the lowest mark in over a decade. Political
:05:12. > :05:16.uncertainty in Thailand may have encouraged this. They have a
:05:17. > :05:21.referendum on the latest Constitution draft on Sunday. The
:05:22. > :05:25.first lawsuit has been fired because of Nintendo's popular smartphone
:05:26. > :05:29.game, Pokemon Go. An man in New Jersey said strangers lingered
:05:30. > :05:34.outside his home with at least five people knocking on his door. The
:05:35. > :05:43.suit against the game maker seeks a class action suit. India is expected
:05:44. > :05:49.to give the biggest tax reform programme since gaining independence
:05:50. > :05:57.from Britain almost 70 years ago. The Parliament House is expected to
:05:58. > :06:01.vote on whether to reduce the Goods and Services Tax. That bill will
:06:02. > :06:07.replaced several taxes and levies in 29 states. Staying with India, their
:06:08. > :06:10.decision to allow more foreign investment in sectors like
:06:11. > :06:15.pharmaceuticals, aviation, and retail, was a major move by the
:06:16. > :06:20.government to boost the economy. But what are the implications for
:06:21. > :06:23.consumers? Our reporter has been looking at the drug makers and the
:06:24. > :06:31.cheap medicines they supply at home and around the world. For even the
:06:32. > :06:36.mildest hold, many Indians don't hesitate to turn to their local
:06:37. > :06:42.pharmacy. -- cold. An attitude that has made pills and potions a huge
:06:43. > :06:46.business here. The drugs that fill the shelves are usually cheap and
:06:47. > :06:50.most of them are made by Indian companies. But some of those firms
:06:51. > :06:55.could soon find themselves under foreign control. Until recently,
:06:56. > :06:59.international investors could own 49% of an Indian pharmaceutical
:07:00. > :07:06.business. Now the government has raised that limit to 74%. And with
:07:07. > :07:11.state approval, 100% ownership is possible. But this global
:07:12. > :07:16.pharmaceutical giant believes a cap on buyouts will restrict big sized
:07:17. > :07:20.deals. You will have some investments coming into the large
:07:21. > :07:26.Indian companies for exports because it will help them improve their
:07:27. > :07:34.technology. But, I doubt if any global company will come and acquire
:07:35. > :07:41.with only 74%. It is the just Indian demand for medicines driving
:07:42. > :07:46.pharmaceuticals. They are also the largest importer of genetic drugs.
:07:47. > :07:50.That is brought in by cheap subsidies and low labour. This
:07:51. > :07:55.sector is expected to see strong growth in the coming years. Taking
:07:56. > :07:58.medicine that has been researched and developed abroad and then
:07:59. > :08:03.manufacturing something similar to sell much cheaper has become a
:08:04. > :08:08.specialisation of Indian drugmakers. Countries, including the USA,
:08:09. > :08:14.threatens global pharmaceutical firms. That allows India to tighten
:08:15. > :08:19.intellectual property rules that allow that to happen. But healthcare
:08:20. > :08:23.activists say that Indian firms are key suppliers of affordable
:08:24. > :08:28.medicines to poor countries. If they get bought out that supply of cheap
:08:29. > :08:34.drugs is at risk. It is important to public health and health security.
:08:35. > :08:38.Last thing you would want is to not have Indian manufacturing capacity
:08:39. > :08:44.pointed towards developing countries. The value of their
:08:45. > :08:48.pharmaceutical market is expected to triple by 2020. That is something
:08:49. > :08:54.international drugmakers cannot ignore. That is an opportunity they
:08:55. > :09:01.may struggle to turn down. BBC News. Let's turn our attention to Japan.
:09:02. > :09:05.This man, Prime Minister Shinzo Abe, is expected to announce a cabinet
:09:06. > :09:13.reshuffle today, Wednesday. On Tuesday he announced details of a
:09:14. > :09:17.massive $275 billion in initiative to jumpstart the economy. Let's take
:09:18. > :10:04.a look at what is planned. JAPANESE MUSIC.
:10:05. > :10:15.TRADITIONAL JAPANESE MUSIC PLAYS. Investors continued to be sceptical
:10:16. > :10:21.about this seamless package. As you can see, the Nikkei is down yet
:10:22. > :10:28.again on Wednesday. That is down by 220 points. The All Ordinaries Index
:10:29. > :10:36.is also in negative territory by 40 points. Thank you for investing your
:10:37. > :10:38.time with us. Sport Today is coming up.
:10:39. > :10:42.In the US presidential campaign, President Obama has attacked
:10:43. > :10:46.the Republican candidate, Donald Trump, saying he is unfit