20/04/2017 Asia Business Report


20/04/2017

Live from Singapore, the essential business news as it breaks and a look ahead to the news that will shape the business day.


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down as an MP to concentrate on his new job as editor of the London

:00:00.:00:00.

Evening Standard. Now on BBC News, let's get the latest business news

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live with Rico Hizon in Singapore. The US Vice President arrives in

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Indonesia. There might be tough conversations on trade. But what

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will be Indonesians want to hear from Donald Trump's deputy will stop

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-- deputy? And we find out how Indian businesses are handling a new

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roadside ban on our goal. -- on alcohol. It is a Thursday. Good

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morning Asia. Hello world. But you could join us for Asia Business

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Report. I'm Rico Hizon. The US Vice-President Mike Pence is in

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Indonesia as part of his first visit to the region. Security issues

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dominated his talks in South Korea and Japan. He will be meeting Joko

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Widodo and we will hear from Indonesian and Asian business

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leaders. What will likely be on the agenda? There are plenty of issues

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that Washington gripes to Indonesia about, in terms of regular tree

:01:20.:01:22.

issues. And now the opposite is happening and Jakarta is hitting

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back the other way, griping about some of the rhetoric coming out of

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the trump administration. -- regulatory. -- Trump. These disputes

:01:36.:01:49.

over particular companies, certainly that is one of the reasons why Mike

:01:50.:01:54.

Pence decided to swing by Jakarta on the way to Australia. But there are

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other issues on the ticket, as well. I think normalisation is one of the

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things that from my opinion is one of the main issues that Mike Pence

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is here to talk about. And that is a normalisation of relations after

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some eyebrows were raised here in Indonesia about the travel ban on

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Muslim majority countries, from Washington. As well as announcements

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about trade investigations, in terms of 16 countries that have a trade

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imbalance with the United States. Indonesia was not pleased about that

:02:27.:02:29.

announcement. I think Mike Pence is here to do a good bit of normalising

:02:30.:02:36.

after that. Rio Tinto says iron ore production in Australia fell 3% in

:02:37.:02:42.

the first three months of the year, compared to the same period a year

:02:43.:02:46.

ago. The company said that is due to logistical conditions due to wet

:02:47.:02:53.

weather and its mines. But it is says is on track to reach full-year

:02:54.:03:02.

targets. A peak in mid- February came after demand in China shrinks.

:03:03.:03:07.

Oil prices have rebounded slightly after slipping $2 a barrel on a rise

:03:08.:03:14.

in US gasoline stockpiles. This is where they are right now. Light

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crude is at $51.06 a barrel. Brent crude is at $53. It is the first

:03:21.:03:28.

rise in US gas stockpiles since January. It comes since their

:03:29.:03:33.

production hits the highest level since mid-2000 15. And the latest

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financial results have helped ease worries over a dispute with Apple

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for Qualcomm. Qualcomm's chief executive says the company expects

:03:50.:03:52.

to continue being an important supplier to the iPhone maker. --

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Radu. In January, Apple sued Qualcomm, accusing them of

:03:59.:04:04.

overcharging for its chips. And Malaysia airlines has become the

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first carrier to sign up to a new satellite flight tracking system. It

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will allow the monitoring of planes in areas where there is currently no

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surveillance. The development, three years after Malaysia airlines flight

:04:16.:04:20.

MH-370 disappeared with 239 people on board. Tens of thousands of

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shops, restaurant, and bars in India are suffering, because they have

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been forced to stop selling our goal. The Supreme Court banned sales

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within 500 metres of national and state highways, in an effort to

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reduce drink-driving death. -- alcohol. But some said the law is a

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blunt tool and not tackling the problem.

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We got this report. In April of last year, 32-year-old man was on his way

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from home -- home from work, whether seven. The Mercedes hit him,

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throwing and 15 feet into the air and telling. City deep two CCTV

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footage sparked a debate on Rosetti. -- CCTV footage. His sister thinks

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the man might have been drunk. She believes that the ban of our coal

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sales and Eyre might help. It might be a solution. -- alcohol. It

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doesn't matter. If you kill somebody, it is not my problem.

:05:33.:05:36.

India's rows are considered to be among the deadliest in the world.

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There have been nearly half a million accidents in 2015 a lone.

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One life was lost every four minutes. Most of these road traffic

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deaths happen on state and national highways. -- alone. The Supreme

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Court ruling is mainly aimed at alcohol shops like this that are on

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the highway and cater to truckers. But as you can see, many are still

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working. When we spoke to them, they said they would not shut down unless

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forced to. But over the thousands of Cordozo highways, owners are

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prepared to do anything to protect their business. In India, our goal

:06:19.:06:23.

is a virgin a billion-dollar market. And the band has hit other big

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businesses too. -- Radu. This is just outside of Delhi. It is just

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metres away from a major highway. Before the ban, they sold to 400 or

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500 customers per night. 85% of its business came from alcohol sales. We

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spent a lot of money to create a concept and to do the interiors, all

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about. That is useless business for us. As usual loss of employment.

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State Goverment 's are unhappy too. They are set to lose tens of

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billions of dollars two. And with more than 1 million jobs at risk of

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business owners and state officials are asking if this ban is the only

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solution. -- too. Froese goes to the polls as we can for the first round

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of eight closely contested presidential election. It is a key

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vote. Marine Le Pen has suggested that France should leave the

:07:25.:07:27.

European Union. Much of the support for her and Melenchon appears to

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come from rural areas. We got this report from the south of France.

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Glittering under the sun of Provence, Rice has been grown in the

:07:46.:07:50.

region for centuries. But now, the industry faces a difficult future.

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Competition from overboard and a big reduction in subsidies have taken a

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heavy toll on production. TRANSLATION:

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Growers say this needs to change. TRANSLATION: Politician should be

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focusing on rural issues in France. There are 15 million people living

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in rural areas. About one quarter of the population. Politics must become

:08:18.:08:21.

rural again. The rice business has its own particular concerns, of

:08:22.:08:25.

course. But you will be much the of thing if you talk to farmers up and

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down this country. They are worried that their problems simply not not

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being taken seriously enough by politicians in towns and cities. In

:08:33.:08:37.

this small village, farmers have gathered for the weekly market. They

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have little time for mainstream politics.

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TRANSLATION: Rural issues are taboo. It is only large towns and their

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inhabitants that politicians care about. Country people are being

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forgotten. TRANSLATION: I think it is a

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candidates on the far right and left the people here vote for. The

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extremes. TRANSLATION: I will vote Marine Le

:09:00.:09:04.

Pen, because she is a woman, and we have never had a female president in

:09:05.:09:08.

France. She could bring something new that male leaders have not in

:09:09.:09:16.

the past. Opinion polls suggest that dissolution in country areas has

:09:17.:09:21.

provided support for fringe candidates. They have a strong sense

:09:22.:09:26.

of abandonment from the mainstream political parties. You know, there

:09:27.:09:32.

used to be a large portion of the population, but now they are a small

:09:33.:09:41.

portion. -- dei. -- Menadue. They more and more turning to the Front

:09:42.:09:49.

National, which looks like the only alternative for them. The

:09:50.:09:53.

countryside is home to millions of voters. In such a close fought race,

:09:54.:09:59.

at their voices might become important indeed.

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Let's have a look at the markets. As you can see, the Nikkei is a third a

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percent, due to the weakness of the Japanese yen against the US dollar.

:10:12.:10:15.

The dollar is strong in New York and Asian trade. In the All Ordinaries,

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they got .3 of a percent, that is 16 .5 points. Thank you for investing

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your time with us. Sport Today is coming up next.

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You are watching BBC News. Let's get more on George Osborne's

:10:39.:10:45.

announcement that he

:10:46.:10:46.