Browse content similar to 03/08/2016. Check below for episodes and series from the same categories and more!
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Now on BBC News, all the latest business news live from Singapore. | :00:00. | :00:00. | |
A dramatic launch for Samsung's latest tablet. We find out what | :00:07. | :00:24. | |
reception it got. And what will happen to the cost of going to the | :00:25. | :00:31. | |
chemist? We look at access to India's pharmaceutical market. Good | :00:32. | :00:35. | |
morning, Asia. Hello, world. This is Asia Business Report. I'm Rico | :00:36. | :00:37. | |
Hizon. Thank you for investing your time with us. This is the midweek | :00:38. | :00:49. | |
edition. We start off with Samsung. They have entered a new galaxy. The | :00:50. | :00:58. | |
South Korean firm revealed this, the latest, the Samsung Galaxy seven. | :00:59. | :01:05. | |
They are trying to build momentum before their competitors bring up | :01:06. | :01:13. | |
their ones next month. What can be Samsung Galaxy do? -- the. We have | :01:14. | :01:21. | |
more. Technology, definitely. Drama, of course. Cinematic unveilings have | :01:22. | :01:27. | |
become standard for new technology products. Samsung is so different, | :01:28. | :01:35. | |
releasing the Galaxy Note 7. It now has a key iris scan, the pen is more | :01:36. | :01:42. | |
precise, and you can charge it wirelessly. This is the newest | :01:43. | :01:47. | |
addition in their line of attacks. They have had one of their best | :01:48. | :01:53. | |
quarters in two years. That is helped by smartphone sales. It is | :01:54. | :01:59. | |
predicting the rest of the year will see even more sales of these kinds | :02:00. | :02:03. | |
of phones. That is in stark contrast to one of their biggest competitors. | :02:04. | :02:09. | |
Apple has seen iPhone sales drop by 15% in the last quarter. And the | :02:10. | :02:13. | |
outlook for the next three is no better. When you look at consumers, | :02:14. | :02:18. | |
they are most loyal to Samsung. They are the most satisfied of any | :02:19. | :02:23. | |
smartphone consumers on the market. We want to be true to the Note | :02:24. | :02:31. | |
consumers and to bring in more people to let them dry. Samsung | :02:32. | :02:37. | |
believes it can buck the trend of Samsung sales by improving on one of | :02:38. | :02:42. | |
their greatest hits. That report in New York. Investors are paying close | :02:43. | :02:48. | |
attention to Rio Tinto, one of the largest mining companies in the | :02:49. | :02:51. | |
world, releasing their results today. Falling prices causing | :02:52. | :02:56. | |
different results are getting tighter. They are being forced to | :02:57. | :03:01. | |
reform. I asked what they are expecting. We are expecting the | :03:02. | :03:07. | |
profit numbers to come in around 1.6 billion, slightly higher than the | :03:08. | :03:13. | |
consensus estimates. They are looking for a diffidence of 40%. | :03:14. | :03:19. | |
What is the reason for this rise of numbers? First and foremost I think | :03:20. | :03:24. | |
it is to do with their cost out story they embarked on with their | :03:25. | :03:31. | |
2016 results. They wanted $30 billion out of their cost of | :03:32. | :03:33. | |
operations. That has had some success. They will be giving a | :03:34. | :03:40. | |
further update this afternoon. Another factor and an important one | :03:41. | :03:45. | |
is that oil prices have recovered rum $38 last year. It is now $60 per | :03:46. | :03:52. | |
barrel. What about the slowdown in the Chinese economy? Why isn't this | :03:53. | :03:57. | |
having an impact on their numbers for the half-year? They have gone | :03:58. | :04:03. | |
quiet on that story. We have had Brexit and US interest rates and | :04:04. | :04:06. | |
other interesting things. But that is the overarching and dominant | :04:07. | :04:10. | |
factor that will impact companies like Rio Tinto and BHP. The further | :04:11. | :04:16. | |
slowdown in China, consuming a billion times of iron ore per annum, | :04:17. | :04:23. | |
will be very bad. Looking ahead to the next half year, can they sustain | :04:24. | :04:31. | |
this kind of growth? It is not so much the growth investors should be | :04:32. | :04:36. | |
focusing on, but they are continuing cost out story. The commodity | :04:37. | :04:40. | |
prices, which we will face issues with because of the slowdown in | :04:41. | :04:44. | |
China, it is about how low you can get your cost. It is about | :04:45. | :04:48. | |
consolidating the balance sheets, not cost. I think the new CEO will | :04:49. | :04:56. | |
continue in that vein. From the Australian Stock Report. Foreign | :04:57. | :05:00. | |
direct investments in Thailand have collapsed in the first six months of | :05:01. | :05:04. | |
the year. According to the Central Bank of the country, they fell more | :05:05. | :05:08. | |
than 90% of value to the lowest mark in over a decade. Political | :05:09. | :05:11. | |
uncertainty in Thailand may have encouraged this. They have a | :05:12. | :05:16. | |
referendum on the latest Constitution draft on Sunday. The | :05:17. | :05:21. | |
first lawsuit has been fired because of Nintendo's popular smartphone | :05:22. | :05:25. | |
game, Pokemon Go. An man in New Jersey said strangers lingered | :05:26. | :05:29. | |
outside his home with at least five people knocking on his door. The | :05:30. | :05:34. | |
suit against the game maker seeks a class action suit. India is expected | :05:35. | :05:43. | |
to give the biggest tax reform programme since gaining independence | :05:44. | :05:49. | |
from Britain almost 70 years ago. The Parliament House is expected to | :05:50. | :05:57. | |
vote on whether to reduce the Goods and Services Tax. That bill will | :05:58. | :06:01. | |
replaced several taxes and levies in 29 states. Staying with India, their | :06:02. | :06:07. | |
decision to allow more foreign investment in sectors like | :06:08. | :06:10. | |
pharmaceuticals, aviation, and retail, was a major move by the | :06:11. | :06:15. | |
government to boost the economy. But what are the implications for | :06:16. | :06:20. | |
consumers? Our reporter has been looking at the drug makers and the | :06:21. | :06:23. | |
cheap medicines they supply at home and around the world. For even the | :06:24. | :06:31. | |
mildest hold, many Indians don't hesitate to turn to their local | :06:32. | :06:36. | |
pharmacy. -- cold. An attitude that has made pills and potions a huge | :06:37. | :06:42. | |
business here. The drugs that fill the shelves are usually cheap and | :06:43. | :06:46. | |
most of them are made by Indian companies. But some of those firms | :06:47. | :06:50. | |
could soon find themselves under foreign control. Until recently, | :06:51. | :06:55. | |
international investors could own 49% of an Indian pharmaceutical | :06:56. | :06:59. | |
business. Now the government has raised that limit to 74%. And with | :07:00. | :07:06. | |
state approval, 100% ownership is possible. But this global | :07:07. | :07:11. | |
pharmaceutical giant believes a cap on buyouts will restrict big sized | :07:12. | :07:16. | |
deals. You will have some investments coming into the large | :07:17. | :07:20. | |
Indian companies for exports because it will help them improve their | :07:21. | :07:26. | |
technology. But, I doubt if any global company will come and acquire | :07:27. | :07:34. | |
with only 74%. It is the just Indian demand for medicines driving | :07:35. | :07:41. | |
pharmaceuticals. They are also the largest importer of genetic drugs. | :07:42. | :07:46. | |
That is brought in by cheap subsidies and low labour. This | :07:47. | :07:50. | |
sector is expected to see strong growth in the coming years. Taking | :07:51. | :07:55. | |
medicine that has been researched and developed abroad and then | :07:56. | :07:58. | |
manufacturing something similar to sell much cheaper has become a | :07:59. | :08:03. | |
specialisation of Indian drugmakers. Countries, including the USA, | :08:04. | :08:08. | |
threatens global pharmaceutical firms. That allows India to tighten | :08:09. | :08:14. | |
intellectual property rules that allow that to happen. But healthcare | :08:15. | :08:19. | |
activists say that Indian firms are key suppliers of affordable | :08:20. | :08:23. | |
medicines to poor countries. If they get bought out that supply of cheap | :08:24. | :08:28. | |
drugs is at risk. It is important to public health and health security. | :08:29. | :08:34. | |
Last thing you would want is to not have Indian manufacturing capacity | :08:35. | :08:38. | |
pointed towards developing countries. The value of their | :08:39. | :08:44. | |
pharmaceutical market is expected to triple by 2020. That is something | :08:45. | :08:48. | |
international drugmakers cannot ignore. That is an opportunity they | :08:49. | :08:54. | |
may struggle to turn down. BBC News. Let's turn our attention to Japan. | :08:55. | :09:01. | |
This man, Prime Minister Shinzo Abe, is expected to announce a cabinet | :09:02. | :09:05. | |
reshuffle today, Wednesday. On Tuesday he announced details of a | :09:06. | :09:13. | |
massive $275 billion in initiative to jumpstart the economy. Let's take | :09:14. | :09:17. | |
a look at what is planned. JAPANESE MUSIC. | :09:18. | :10:04. | |
TRADITIONAL JAPANESE MUSIC PLAYS. Investors continued to be sceptical | :10:05. | :10:15. | |
about this seamless package. As you can see, the Nikkei is down yet | :10:16. | :10:21. | |
again on Wednesday. That is down by 220 points. The All Ordinaries Index | :10:22. | :10:28. | |
is also in negative territory by 40 points. Thank you for investing your | :10:29. | :10:36. | |
time with us. Sport Today is coming up. | :10:37. | :10:38. | |
In the US presidential campaign, President Obama has attacked | :10:39. | :10:42. | |
the Republican candidate, Donald Trump, saying he is unfit | :10:43. | :10:46. |