:00:00. > :00:00.manufacturer, PSA, which owns Peugeot and Citroen.
:00:00. > :00:14.Now on BBC News, all the latest business news live from Singapore.
:00:15. > :00:21.Threats of legal challenges and a new warning from businesses over
:00:22. > :00:29.President Trump's revised travel ban. Activewear. The fashion
:00:30. > :00:35.phenomenon that is grabbing Australia by the seat of its pants
:00:36. > :00:38.and is now heading to Asia. Good morning, Asia. Hello, world. This is
:00:39. > :00:46.Asia Business Report. I am Rico Hizon. It's a Tuesday. US President
:00:47. > :00:51.Donald Trump has signed a new executive order, a scaled back
:00:52. > :00:58.version of his controversial travel ban. . It bands new visas for
:00:59. > :01:05.travellers from six mainly Muslim countries. -- bans. Unlike the
:01:06. > :01:10.current ban, current visa holders are excluded. Some say it could hurt
:01:11. > :01:15.the US economy. The last travel ban was met with a lot of confusion and
:01:16. > :01:22.a lot of misunderstanding about who was actually impacted. This new
:01:23. > :01:29.version of the travel ban certainly has a lot more detail. It is more
:01:30. > :01:34.specific in terms of people who hold green cards, for example. That said,
:01:35. > :01:39.businesses are still expecting that their businesses are going to be
:01:40. > :01:43.impacted. Already we are seeing that people are coming to the US less for
:01:44. > :01:48.tourism and travel. This is already having an impact on America's
:01:49. > :01:53.economy. This is a country that was largely built on immigrants. Many
:01:54. > :01:57.businesses here were built by immigrants. We can expect a lot of
:01:58. > :02:02.anger bubbling up from America's business community. What about the
:02:03. > :02:08.feedback from Silicon Valley? That area of California has a lot of
:02:09. > :02:12.foreign workers. The technology sector is really dependent on a lot
:02:13. > :02:18.of outside labour to fill in the jobs. There is such a huge demand
:02:19. > :02:28.for these people with specific computer skills. One of the tools
:02:29. > :02:31.people in Silicon Valley use is the H1B Visa programme. It is a lottery.
:02:32. > :02:36.President Trump has always had his eye on that specific lottery
:02:37. > :02:41.programme. On Friday, we heard that he has already put a stop to the
:02:42. > :02:56.Expedia did version of it. There was a certain fee that would let
:02:57. > :03:01.businesses expedite visa programme is. That is hurting Silicon Valley.
:03:02. > :03:13.In addition to that, it will hurt the technology company quite badly.
:03:14. > :03:19.Samira Hussain. Hang Jing used to be China's biggest company, and now it
:03:20. > :03:24.has been delisted from the Hang Seng Index. It is not the only company in
:03:25. > :03:34.the maritime sector feeling the pressure. We have the Chief
:03:35. > :03:41.Operating Officer of a website on line. He told me what is expected.
:03:42. > :03:44.What is hurting the market is the offshore oil and gas services. Three
:03:45. > :03:50.companies have gone through liquidation in the last six months
:03:51. > :03:56.and six more are in restructuring on chapter 11 and many more are
:03:57. > :04:01.expected. What is expected to come soon is a sea drill out of Norway to
:04:02. > :04:06.go through a restructuring of chapter 11. Why is that a major
:04:07. > :04:10.problem, the offshore sector? It was driven by the low oil price since
:04:11. > :04:16.2014 which has restricted exploration and production by major
:04:17. > :04:20.oil companies and has had a knock-on effect of the rates for these
:04:21. > :04:27.vessels and oil rigs and platforms exploring and looking for oil out in
:04:28. > :04:32.the deep sea. Why is it really that bad? We are already seeing oil
:04:33. > :04:38.prices recovering from lows. The oversupply of vessels and high oil
:04:39. > :04:43.prices and exploration in 2013 and 2014. Too many vessels were being
:04:44. > :04:48.built. It is a typical shipping problem. It is a cyclical business.
:04:49. > :04:53.Oversupplied. There was a cancellation of a lot of projects
:04:54. > :04:58.out there. Too many ships, low demand, low utilisation, low rates.
:04:59. > :05:03.What is your outlook for the shipping sector and subsectors over
:05:04. > :05:09.the next 12 months? We really like the gas sectors, energy and LPG, it
:05:10. > :05:14.is the fuel of the future. Environment to lay friendly. A good
:05:15. > :05:17.demand story. Dry Bulk is having the start of a recovery. We will see
:05:18. > :05:22.what is happening with demand, especially out of China. Supply of
:05:23. > :05:26.vessels has been decreasing. Limited orders in the last few years. What
:05:27. > :05:32.is problematic is the offshore sector, which I talked about, and
:05:33. > :05:43.the container sector. What about demand from the Asia-Pacific region?
:05:44. > :05:51.Is picking up to support the injury. -- industry? We have seen a pickup
:05:52. > :05:55.in demand, especially in the oil and dry box sectors. But we have to look
:05:56. > :06:09.at the supply of vessels. Container and offshore will continue to affect
:06:10. > :06:12.the rates. In other news, a big merger in the fund industry. UK fund
:06:13. > :06:21.manager, Aberdeen money-management, is merging with Standard Life. It
:06:22. > :06:25.will create one of the biggest fund managers overseeing assets worth 810
:06:26. > :06:34.billion dollars US. They say it will slash costs and include job cuts.
:06:35. > :06:43.Fears of a job cutting programme are increasing in the UK. Vauxall says
:06:44. > :06:48.it is paying $2.3 billion to buy a General Motors' European business.
:06:49. > :06:55.General Motors will have no more business in Europe. Shares in Snap,
:06:56. > :07:01.the company which owns the popular messaging programme, Snapchat,
:07:02. > :07:04.closed 12% lower overnight following the lower opening price from its
:07:05. > :07:11.first day of trading. It is the first time it's stock has dropped
:07:12. > :07:14.since the company listed on the New York Stock Exchange last week. --
:07:15. > :07:18.its. It follows advice from several analysts who suggested investors
:07:19. > :07:24.should sell amid strong competition from Facebook and Twitter. Have you
:07:25. > :07:33.bought any activewear recently? Not me. By that, I mean this. Oh, look
:07:34. > :07:37.at that. It looks really sassy and sexy. Yoga tights are worth 270
:07:38. > :07:44.billion dollars. In a shredder, sales have grown to 6% in the last
:07:45. > :07:53.five years. -- Australia. It is even the aspect of a new study, as we
:07:54. > :07:57.report. It is the uniform of the ultra- healthy, or at least those
:07:58. > :08:01.who would like to be. In Sydney, bright tights and tank tops appear
:08:02. > :08:06.everywhere. It seems there is very little that cannot be done in
:08:07. > :08:14.activewear. You can work, exercise, meet for lunch, even go to a drinks
:08:15. > :08:20.party. Are you going to the gym? No. Activewear. Buying groceries in my
:08:21. > :08:26.activewear. It is such a phenomenon in Australia that it spawned this
:08:27. > :08:31.viral video. Doing literally nothing in my activewear. And academic study
:08:32. > :08:35.looks at why the industry has grown, and where it goes from here. The
:08:36. > :08:42.Victoria University research suggests sales in Australia will
:08:43. > :08:47.keep growing by over 20% in the next five years, driven, it says, by the
:08:48. > :08:54.desire to exercise any where and at any time. Consumer demand has not
:08:55. > :08:57.been met. Sport is not just for guys. It has been driven by
:08:58. > :09:02.companies to seek out new markets and also driven by women themselves
:09:03. > :09:05.who are seeking better products and retail experience is. It is an
:09:06. > :09:10.opportunity this woman has grabbed. She has set up the website
:09:11. > :09:15.StyleRunner after being frustrated by her own shopping experience. Now
:09:16. > :09:21.she wants to sell activewear to Asia. I was annoyed because I wanted
:09:22. > :09:26.more fashionable activewear. I was doing yoga. When I realised no one
:09:27. > :09:30.was doing it, I thought I had to give it a chance. So I started a
:09:31. > :09:37.business and customers loved it from the get go. Huge success. We were
:09:38. > :09:40.growing 30%. According to the research, the next step is for the
:09:41. > :09:46.clothes to integrate wearable technology that can help count the
:09:47. > :09:51.kilometres. At the moment, the activewear boom shows no sign of
:09:52. > :09:57.slowing. BBC News, Sydney. And before we go, here is a look now at
:09:58. > :10:01.the markets. As you can see on the market boards, currently mixed in
:10:02. > :10:08.early Tuesday trading. As for take care's shares, opening lower by
:10:09. > :10:12.investors being spooked by political uncertainty and cautioned by US jobs
:10:13. > :10:19.data being released later this week. -- Tokyo's. The Hang Seng Index up
:10:20. > :10:26.marginally by 0.4%. Just like the All Ords Index. US stocks finished
:10:27. > :10:29.lower with banks giving back some of their recent gains. Thank you so
:10:30. > :10:41.much for investing your time with us. I am Rico Hizon. Sport Today is
:10:42. > :10:42.coming up next. You are watching BBC