01/05/2017 Asia Business Report


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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Thawed relations. Japan and China holds direct economic talks for the


first time in nearly two years. Tears and disappointment. The impact


on Indian workers with the new Australian visa laws. Good morning,


Asia. Hello, world. Welcome to another edition of Asia Business


Report. It's a Monday. It may be May Day or Labour Day were you are, but


we know that markets have a lot to digest in the next few days. Japan


and China are resuming bilateral trade talks after two years starting


from today. The Federal Reserve kicks off its two-day meeting.


Investors will be looking for clues on how many more US rate hikes could


be in store this year. That is the same day that tech giant, Apple,


will give its financial report card. Facebook follows the next day. And


on Thursday, the Australian Prime Minister, Malcolm Turnbull, meets US


President Donald Trump in New York. What can we expect from this busy


week? I asked a guest what he is expecting from Japan and China. The


relationship between Japan and China at the political level is a very


sensitive one. There are deep roots to that and I won't dwell on them.


But I think this is symbolic of Xi Jinping moving to calm things down


in the neighbourhood. This is a good time for Japan and China to have


constructive dialogue on something other than North Korea. So,


hopefully, you know, it is a positive for the region, and, of


course, China being such an important economic engine for the


world, hopefully it is a positive for the economy of the region, as


well as its politics. Let us look at those big technology giants


reporting this week. Are you more interested in Apple or Facebook's


earnings? Apple is such an old reliable at this stage in the game


that the only thing we can expect is positive surprises, as opposed to


those who like to paint doom and gloom for Apple. It is a good were


cause for investors. Facebook is more interesting for me. -- work


horse. It gives an indication of what is happening in the world of


the Internet. Facebook is the bellwether for these kinds of


relationship based Internet stocks. And it is the counterpoint to other


stocks like Twitter and so on who don't have as much substance. It is


going to be a colourful week. Last week was as well. Lots of


opportunity for investors if they pay attention. Now, Australia and


the US. We know they are old allies. But there was a famously awkward


phone call between Donald Trump and Malcolm Turnbull. Will be expect the


good ties between these countries to continue later this week? So, I


think, obviously, underneath the surface of that relationship between


the US and Australia, it will continue to soldier on, regardless


of who is in the leadership position of either country. But I think at


the sort of level of public drama, we hopefully will see a gearshift as


Donald Trump has managed in a number of other circumstances so that what


was apparently an awkward interchange becoming something more


of a man-to-man friendly relationship. And we have the US


Federal Reserve coming out with interest rates, up or down, or any


at all? Well, I am hoping that the Federal Reserve, having played front


and centre for everybody over the last few years, becomes more of a


sideshow and real economic activity starts to drive interest. I won't


make a prediction, though we expect a number of rate increases this


year. James speaking to me earlier. Last week, Australia announced


sweeping changes to its visa rules, making it much harder for its


skilled workers to come from overseas. It is aimed at


prioritising jobs for Australia. Indians make up nearly a quarter of


skilled immigrants, with others being British and Filipinos. 8000


visas were granted to them in the last nine months to be how has the


move gone down in India? I really wonder. I cannot believe this has


stopped. Is there any other possibility out there? It is over.


We have invested a lot of time into this. They have to move 200


occupations from the skilled list. Those in the pipeline whose cases


were being processed, they suddenly cannot go along any longer. The last


two years we have been very focused on going to Australia. We started


with our skill assessment. We paid $3000. We spoke to our families, we


said we are finally going. Something like this was unexpected. The US is


getting tougher on visas as well. People are migrating from the US and


UK to Canada and Australia. It will affect me, I think. Me and most of


the students in the future. Because, if they are changing the rules, they


are giving the job is to Australians, not the Indians. I


worked really hard. I left no stone unturned for this. We have been


preparing. Everything has just become confusing. A personal look at


what those visa changes entail. Another bit of business news. Demand


for South Korean goods led to a 15% jump. Shipments to China jumped 10%


compared to a year ago. The mainland is the largest export market for


South Korea, followed by the US and the EU. And President Joko Widodo


travelled to the hometown of the Philippine president, Rodrigo


Duterte, in the Philippines. The Indonesian leader was there to


inaugurate a new shipping lane to boost trade between the two


countries. It will reduce shipping time from five weeks to three days.


US President Donald Trump has invited the Philippine president to


Washington in a phone call over the weekend. They discussed the threat


of North Korea and the war on drugs in the Philippines. Public access to


wireless Internet, Wi-Fi, maybe ubiquitous in many big cities right


here in Asia. In Germany, would you believe it is a different story?


Public Wi-Fi is hard to find. There is a legal reason for it. Wi-Fi


owners can be potentially held liable for any illegal activity that


occurs on their network. Campaigners have been trying to change this and


draft legislation has been put forward. But that is also facing


opposition. We have more from Berlin. If you are looking for a


morning coffee, there are few better places than Berlin's trendy cafes.


If you like to check your e-mails while sipping a large hey, you might


find Wi-Fi hard to come by. -- latte. A new law means that Wi-Fi


owners could be asked to pay up if it is used by others to download


illegal content. I have never heard of anyone being sued for illegal


downloads. But to make sure, we have got liability insurance. Confusion


could be one of the reasons why so many cafes do not offer Wi-Fi.


German politicians never admits an opportunity to talk up the digital


economy of the country. So the fact that cafes like this can lack Wi-Fi


is something of an embarrassment. A new law is moving through German


parliament set out to fix this. Not all campaigners are happy with


legislation. It is a good thing and a bad thing. The good thing is that


it tries to review the section about liabilities and states very clearly


that under no condition can the holder be liable for third-party


downloads. But at the same time, the draft law states that you can ask


the operator for blocking a certain information that is related to


copyright infringement. According to the draft law, you can do that even


without a court order. Whatever shape the legislation takes, the


race is now on to get something passed before the German elections


on September. Jo Miller, BBC News, Berlin. A quick look at markets.


Only Australia is open to date. That is it for Asia Business Report. --


today. Thank you for


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