19/01/2017 Asia Business Report


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


As US President-elect Donald Trump prepares to take the helm we find


out what businesses in Asia are expecting. From the air to do some


fun empire is granted a -- the edge of the Samsung empire is granted a


reprieve for his role in the countries of scandal. Good morning


and welcome to Asia Business Report live from Singapore. With just two


days left until Donald Trump is sworn in as the 45th president of


the United States and dad deeply divisive figure means that many are


now looking at his cabinet picks resident bodies policies will be.


Earlier a billionaire investor said their top priority is to re-


negotiate another the trade deal with Canada and Mexico. The


President-elect has made no secret in his public remarks, nor have I in


earlier remarks during the campaign that NAFTA is logically the first


thing for us to deal with. We are to solidify relationships in the best


way we can in our own Territorian or four we go off to other


jurisdictions. So I think that should be, and hopefully will be if


I am confirmed, a very early topic in this administration. That for


many business leaders that a presidency heralds a new era of


uncertainty. And despite him being the author of the art of the deal


many believe that the global mergers may be harder to come by. Earlier I


spoke to a representative of Price Waterhouse Cooper. We have a few


years of very good singing, liquidity in the market and


political in a comic -- economic certainty. Now we are seeing some


political change. Brexit and indeed as we go into a new president period


there is a degree of uncertainty. Having said that, the Trump policy


as stated so far appear to be friendly to deals. The regulation,


tax reduction and stimulus and investment in energy and


infrastructure and other areas. But in speaking to investors that we


expect there to be hesitancy and pause. I think there is a great


belief, and we have that as well, it in the US. It will be a pause rather


than an impact and we will see a big return to buoyancy and investment


levels. We have heard from some businesses voicing concerns but


could this be an opportunity for some Asian countries? No doubt.


Certainly by reference to investment in areas where we expect stimulus


from the UK or the US economy. And then if you look to where the money


may flow, this is where the investment in Asia will come


through. In India, Japan, Singapore, over the last six weeks you feel a


audience in terms of opportunity there. For different reasons- stable


politics in India, an aggressive look at portfolios in Japan and an


opportunity for private equity across the region to get more


involved. We think we will see an uptake in investment across the


Asian region, probably with one caution- outbound investment from


China may slow but otherwise it is very positive about the Asian


market. Staying with the United States Janet Yellin says that the US


economy is healthy enough for the central bank to raise its benchmark


interest rates a quote, a few times a year through 2019. During a speech


on Wednesday she said the exact timing of interest rate hikes will


depend on how the economy is doing. She said that policymakers are


getting closer to their goals of full employment and stable


inflation. The head of the International Monetary Fund said


that despite the UK economy doing better than expected after last


year's decision to leave the European Union it will still suffer


from the split. Her comments come after the Prime Minister Theresa May


laid out her negotiating terms with the EU. In her comments, the IMF


said that any deal with the EU will not be as good as membership. When


you belong to a club, whatever that club is beat sport or intellectual


or whatever, the members of the club have a degree of affinity and terms


under which they operate. Somebody outside the club, sport or


intellectual or whatever, have different access. Meanwhile the


Foreign Secretary Boris Jenson is warning the European Union not to


punish Britain for its decision to leave the economic bloc. He made the


controversial comment while on a trip to India. If Mr alarmed that


wants to issue punishment beatings to anyone who chooses to escape in


the manner of some World War Two movie is and I think, I do not think


that is the way forward. It is not actually in the interest of our


friends and our partners. A South Korean court has rejected an arrest


warrant for Jay Y Lee. Prosecutors have accused him of bribery,


embezzlement and perjury in connection to a scandal which led to


the impeachment of the country's president. Samsun has denied any


wrongdoing. Earlier I asked if people were surprised by the


verdict. The public had been divided about what might happen. For most


part I think there would be enormous relief from the part of Samsun. The


last 24 hours have been one of the longest days for Jay Y Lee. At the


city jail the head of South Korea's biggest company was asked to wait


throughout the night until the court came to a decision about his arrest.


Early in the morning the judge said there was a lack in justification to


put Mr leave behind bars and ordered his release. Just before day lay he


was seen walking out of jail was a slight smile. -- just before


daybreak. Lacking justification. Could that be because of the


possible impact on Samsun's reputation and performance which, of


course, plays a huge part in the economy of South Korea? This may not


be the end of problems for the chief of Samsun. The company has been


accused of bribery and he may still need to face a trial if prosecutors


decide to press charges. The allegation is that Samsun gave


millions of dollars in return for the votes of the national pension


fund in a big and contested restructuring of the company. In the


meantime, Mr these days as a free man. So can prosecutors continue


pursuing him? Samsung has continuously denied the bribery


charges and the position is that contributions have been made but was


not in order to receive favours. Bribery is not an easy crime to


prove under Korean law. Neither is putting rich family members of


conglomerates into jail for wrongdoing. Despite criminal charges


and convictions, no family member of Samsun has ever served jail term. --


Samsun. Shares opened higher than 2% in May continue to trade strongly.


Shares in Netflix jumped over 8% in US training -- trading it to make


meeting a new high. The media streaming service has been producing


more original shows and focusing on expanding globally. That is held


Netflix sign up a record 7 million new subscribers. The majority of


them from outside the United States. Goldman Sachs still has the golden


touch. The investment bank saw profits triple in the fourth


quarter. Its trading activity got a major boost after Trump's election


spurred a stock market rally. Manchester United has overtaken


reality that to become the richest football team in Europe. The last


time they held the title was over a decade ago. According to a


consultancy in Manchester United raked in over $700 million last


season. Now here is a story for all of you train fans. After over two


weeks crossing two continents the first-ever for a train travelling


direct from China to the UK has arrived in London. It is part of


China's drive to develop trade and investment ties with Europe. London


is the 15th European city to join what the Chinese government referred


to as the new silk Route. Lets show you the pictures of the


train pulling into the station just outside London. The train trip takes


about half the time of a sea journey.


You are watching BBC News. The headlines for you this our-at his


final news conference President Obama said he will continue to speak


out to defend what he called core values are after he leaves


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