02/09/2016 Asia Business Report


02/09/2016

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of all-out strikes at hospitals in England before Christmas.

:00:00.:00:00.

The move is part of an ongoing dispute over a new contract

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Now on BBC News all the latest business news live from Singapore.

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China in the spotlight. The world's second largest economy host G20

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leaders against the backdrop of a slowing economy.

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And come with us to Berlin to find out how Asia's tech giants are

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creating our homes for the future. They are real news cases from real

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consumers and it will change the behaviour of how people interact

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with home appliances, for short. Dashboard sure. Good morning, Asia

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and hello, world, glad good you could join us -- for sure.

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World leaders are heading to the Chinese city of banjo, that is for

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the annual G20 summit this weekend -- Hangzhou. Barack Obama, Xi

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Jingping and Theresa May will be among those attending. The group

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accounts for 85% of world GDP and two thirds of its population. It is

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a big moment for President Xi, who wants to show that the mainland is

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at the centre of the solution to stagnant global growth. Robin Brant

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reports from Shanghai on the economic challenges facing his

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country. Got the popcorn, got the tickets,

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got your friends. Now for the movie. And there are plenty to see in the

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world's biggest market for cinema and film. But for the first time in

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five years there are signs of weakness. Ticket sales aren't going

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up, they're going down, by 10% before the summer compare to last

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year, and average ticket prices have dropped to their lowest since 2010.

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Maybe I don't come here, maybe I will stay at home. Stay at home?

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Yeah. Watch it on TV? I don't like seeing movies at home, I get sleepy!

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But why does it matter? Because it is regarded as a snapshot of real

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spending. It's not just the movies where the

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numbers aren't climbing any more, the number of Chinese tourists going

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abroad is set to level off this year according to the Chinese tourist

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administration. So does all this make for an accurate barometer of

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the economy? It's true that people still feel a

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little uncertain for example about the exchange rate, about the stock

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market. Therefore you do not see a constantly increasing trend of the

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growth rate of China's consumption. But it is actually experiencing a

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transition and people are consuming more than ten years ago.

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It is hard to judge the health of an economy but this is actually quite a

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good pointer. It's a cup of coffee. Now, there's been an explosion in

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the number of copy shops here and Shanghai consumers are now happy to

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part with the equivalent of six US dollars for one of these. They

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didn't spend anything like that 20 years ago. But this country is still

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struggling with the dominance of old industries.

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The steel meals and coalmines that powered China's Boom are undergoing

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big change -- steel mills. The government has promised to shut many

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of them. It's part of a painful move away from being an economy dominated

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by inefficient state-owned enterprises. But China is far from

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grinding to a halt. Take SUV sales, they are going through the roof in

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an economy that is slowing but still growing at around 6.5%. We want to

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go to Tibet. Across China? Yeah, across China. Cars, coffee and

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cinema tickets, it's one way to get a snapshot of the economy as it

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tries to lead the way in revising the world economy. China's growing

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clout is a worry for G20 leaders, China is interested in Russia's

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natural resources. Ahead of the G20 summit, the Japanese and Russian

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leaders have been meeting in Moscow but the two countries remain at odds

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over a decades-old territorial dispute involving a string of

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Russian controlled western Pacific Islanders. The Japanese

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pharmaceutical company Takeda has won a US contract to develop a

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vaccine for Zika. It is worth $200 million and it will help the vaccine

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get ready for initial testing. Human trials are due to start in a year.

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Currently there is no drug or vaccine available to fight the Zika

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virus. Will a US interest rate rise come this month as many expect? We

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can get a better idea with the latest US jobs numbers out later

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today. Let's look at how those numbers could influence the Fed's

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decision. This month's US job report is very

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significant because it may determine whether the Federal Reserve hikes

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interest rates for only the second time in the last ten years.

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If we get strong job creation in excess of 180,000 jobs in August,

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wage growth that continues to go up, and evidence that they might labour

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markets like is disappearing because people aren't rushing back into the

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labour market then the Fed will find it hard to not hiked rates when it

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meets in just over two weeks. -- hike.

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More than 1 million Indian workers are expected to strike today in a

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nationwide protest by unions. Industries including power, ports

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and banking are expected to be disrupted by their claim for higher

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pay. Schleper has more from Delhi. When you want to protest in India's

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capital, this is where you come. We expect this area to be packed for

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the country's biggest protest in more than a year. Higher wages are

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part of the debate but it's about something more fundamental, should

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sweeping reforms, which the Modi government said is essential for the

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economy, go-ahead? A lot has been made plans to allow more foreign

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investment in some of the countries biggest industries. Some

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pharmaceuticals and defence to aviation -- from. But some say that

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more private sector influence threatens jobs. And they also object

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to plans to sell more stakes in businesses like coal India,

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industries that many say should stay under state control. So how

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constructive will be action be -- destructive? Many Indians won't have

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access to state run bank accounts and also dock workers will strike

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affecting trade. But there's no effect on power supply and also

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railway workers aren't part of the strike, meaning the country's key

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transport routes will run normally. Threats of such action normally

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result in last-minute cancellations and promises of talks and

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concessions. But they are going ahead this time and that underlines

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the strength of feeling many in this country have against reform, reforms

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that are a central plank of the government plans to make a more

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competitive India. Now to Berlin where Asia's

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technology giants are dominating Europe's biggest consumer technology

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show, IFA. The likes of Sony and Samsung are pushing their vision for

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a so-called Smart Home. Rory Cellan-Jones takes a sneak peak.

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In Berlin this week, a glint of products that tech firms hope will

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soon be in your home and they are betting it will be a smart,

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connected home. The word smart is everywhere. This Chinese firm has

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even made it smart to take a nap. This smart mattress will even tell

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me on that screen how well I have slept. Actually I slept brilliantly!

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Over at the giant Samsung stand, there's an old favourite, the

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Internet connected fridge. What makes this different is that it and

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other are all controlled from a smartphone app can even see into the

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fridge. There's three cameras inside the fridge, every time the door

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closes it takes an image. You can add the expiry date so I know I have

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got to eat a cake in the next day. TVs continue to get bigger with ever

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sharper pictures. Many this year both curved screens. And Sony is

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looking a bit further into the future with this projection system

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that turns any surface into a magical interactive space.

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Characters from the book have lept out of the book magically onto the

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table. It is Europe's biggest technology show, but what are the

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big names we have seen so far? Samsung, Sony, a range of American

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and Chinese companies, but where are the big European names taking a bite

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out of this market? To be fair, there are plenty of

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German firms here from Siemens to this Berlin based start-up with a

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security camera that uses artificial intelligence to distinguish between

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homeowner and burglar. But overall Europe seems to be lagging behind.

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Europe remains an important market for technology firms, and from robot

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vacuum cleaners to a gadget that let's you play with your cat when

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you are away, there will soon be plenty of new products vying to make

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your home smarter. Rory Cellan-Jones, BBC News, Berlin.

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Wonderful new technology. A quick look at the markets, as you can see,

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stops here are slipping in early Friday trade despite US stocks

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closing positively overnight, investors basically moving to the

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sidelines as they await the all-important unemployment data from

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the US which will be coming out later today. Thank you so much for

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investing your time with us. I'm Rico Hizon. Sport Today is coming up

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next. As a second pregnant woman

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in Singapore is found infected with the Zika virus,

:10:38.:10:41.

the Prime Minister declares

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