20/04/2017 Asia Business Report

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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


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


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


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


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


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


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


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


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


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


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


Widodo and we will hear from Indonesian and Asian business


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


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


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


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


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


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


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


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


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


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


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


Muslim majority countries, from Washington. As well as announcements


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


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


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


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


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


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


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


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


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


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


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


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


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


financial results have helped ease worries over a dispute with Apple


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


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


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


overcharging for its chips. And Malaysia airlines has become the


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


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


surveillance. The development, three years after Malaysia airlines flight


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


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


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


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


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


blunt tool and not tackling the problem.


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


of eight closely contested presidential election. It is a key


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


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


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


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


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


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


heavy toll on production. TRANSLATION:


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


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


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


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


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


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


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


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


have little time for mainstream politics.


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


inhabitants that politicians care about. Country people are being


forgotten. TRANSLATION: I think it is a


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


extremes. TRANSLATION: I will vote Marine Le


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


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


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


provided support for fringe candidates. They have a strong sense


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


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


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


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


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


at their voices might become important indeed.


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


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


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


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


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


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


announcement that he