30/08/2016 Asia Business Report


30/08/2016

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for changes to the Treaty which allows British officials to check

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passports in Calais. Now for the business report.

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Banking on disparity or a future that to lenders are due to abort.

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What was to blame or this disaster in Brazil was make the world 's

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biggest company -- mining company unveils its findings. Good morning,

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Asia, hello, world. ICB Sea and the bank of China are set to reveal

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their latest earnings today. They have enjoyed strong growth in

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profits but things are slowing down and there are concerns about the

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banking system and the high levels of bad debt.

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It is a big day for two of China's biggest banks but the outlook is not

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particularly positive. That era of double-digit growth is well and

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truly over for these institutions and now they are struggling to

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return profits. OCBC by assets it is the biggest bank in the world. --

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ICB Sea. In the year gone by it has seen profits squeeze it down to the

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low single digits. A similar story for the bank of China and there are

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two main reasons that non- performing loans and state owned

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enterprises, the zombie industry in coal and steel. They are asking them

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to give these companies that are loan negotiated deals and also

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sometimes get caught equity swaps and that is coming at the same time

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as it is bad loans are coming home to roost. We had years of ultra- low

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interest rates, increased liquidity in the economy and at the same time

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we are having a convergence of these two significant issues which is

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proving hugely critical for the economy and particularly for its big

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banks. A report blames construction for

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this disaster. Hundreds were left homeless and toxic material was

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released into the river. These findings, we have to first remember

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they are a panel specialist commissioned by the companies say

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they brought in an outside group but this has nothing to do with the

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formal investigation by the Brazilian authorities. They studied

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event that happened and try to not caution any blame to any single

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person. The findings basically are that the dams built were supposed to

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separate the slime from San tailings. When it is to mix

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together, the sand became more liquid and that is what caused the

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flooding and the mudslides. That should not have happened. It

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happened because of basic changes to the project around 2011. When will

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the government come out with its own investigation regarding this

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accident was back earlier this year, Brazilian police already indicted

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seven people. They are answering charges of many things. Not only did

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the authorities say the dam was not well constructed but also they said

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there was faulty equipment and not good enough emergency plans. None of

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that was in the report today. The company will answer for those

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charges and they will be trialled - we do not have a date yet. Apple

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could be ordered to pay billions of euros in fact taxes in the Republic

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of Ireland. A final hearing on the European Union competition officials

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is expected on Tuesday, following an investigation. Both Apple and the

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Irish government are likely to appeal against the ruling. Taking a

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look at the chocolate market, shares in Hershey have plunged 12% after

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they rejected a $23 billion takeover by a snack giant which makes Oreo

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cookies. -- 23 million. It would have created the world 's biggest

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candy maker. East Timor and Australia have begun talks aimed at

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resolving a long-running dispute over the maritime boundary and the

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resources that lie between the two countries. Currently a number of

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treaties divide up or you'll and gas reserves in a joint petroleum

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development area. Why is the more pushing for a permanent boundary to

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give it control of greater fields? It is a big petroleum development

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project, or it would be. It could be 20 - 30 million dollars which is a

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huge amount. There is a notion of national pride. East Timor sees this

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as a continuation of its independence struggle and it is the

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last bit of struggle of unfinished is that which would give it the

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respect of true nationhood. But an agreement is an agreement. That is

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Australia's argument. On the practical level they say it has been

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defeated both countries are very, very well and there is no reason to

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change it and in fact they really do not like to be dragged before this

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conciliation commission and say that the more dragging Australia to the

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commission is quite willingly. -- East Timor. It is in fact a breach

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of the treaty arrangement. They actually came out and said at the

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beginning that they do not think this conciliation commission is

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competent in a legal sense to hear its claims. East Timor uses the term

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national pride, this is our property. What happens next? This

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commission is not in any way binding and does not have any basis on

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knowledge of where it might go because it is the first time it has

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been tried. Both sides might go away and toss aside whatever this

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commission comes up with but East Timor could in theory just pull out

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of the existing treaty arrangement and tried to negotiate again but who

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knows which way things would go. We will be watching this test case very

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closely. Shenzhen is famous for making electronics but also now a

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popular spot for start-ups from all over the world and we spoke to one

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country. We find out how they are helping innovators get their ideas

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off the drawing board. Hax is a hardware ex of a rate that

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case company from prototype stage all the way up to launch. It is all

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about speed and that is why we take it to Shenzhen. It is superfast and

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it is almost impossible anywhere else in the world. If I wanted to

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make something - in London I would have to spend ?200 and it would take

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me about four days to two weeks to have that delivered whereas in

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Shenzhen they and printed in 24 hours for ?20.

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We provide the team with funding, $100,000, we take 9% equity in these

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companies. We provide them with hands-on help. We have 15 full-time

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staff. The biggest advantage of Hax is that the people here. Being able

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to sort things fast and soon enough. Start-ups in China. Before we go, a

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quick look at the market... This is after US stocks gained overnight due

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to consumer spending. US job report coming out at the end of the week.

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Thank you for investing your time with us. Bye for now.

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The top stories: Dilma Rousseff has urged senators to vote for democracy

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and against

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