07/06/2017 Asia Business Report

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

A mining company makes the biggest investment in Australia ever by an

Indian company but where is the funding going to come from? And find

out how an executive behind Japan's most popular search engine feels up

for a busy day. Vatican joined us for this midweek

edition. Shares of Adani jumping 9% in more by trading on Tuesday after

news that the Adani group is going to go ahead with its controversial

coalmine project in Australia. -- Mumbai. There are still many

unanswered questions about this project.

After a lot of hurdles and delays, Adani is moving ahead with the

project but there are still a lot of questions that remain unanswered.

The biggest one of them, how was Adani going to finance this project?

The total cost of building this coalmine is $12 billion. Adani is in

no position to finance this project internally because it has a huge

debt on its books. It's already highly leveraged and is in no

position to bring down that debt in the few years. The other option is

banks. But the big Australian banks have already said they will not

finance this project because of the huge controversy it is basing on the

ground. The Indian banks are already struggling due to high levels of

non-performing assets except -- except for the State Bank of India.

Its already announced it will extend the loan of $1 billion for this

project but that will not be enough. Adani is saying it is looking to

secure $650 -- 600 $50 million from the Australian Government to get

started but there are no clear answers as to how it will fund the

project in the long-term. Adani still faces huge ground opposition.

Even though they say they will go ahead, environmentalists say they

will oppose this project right to the end. The biggest concern is that

the coal exported from Australia to India on the ships will further

damage the already ailing Great Barrier Reef. Adani at this stage is

saying it plans to start the construction of the project later

this year, September or October. The Philippines has put a temporary

ban on its workers heading to Qatar after several Arab countries broke

diplomatic ties with the country, accusing it of supporting Islamist

militants and Iran. There are about 250,000 Filipino workers in Qatar.

The Middle East is a major source of remittance income for the

Philippines. Gruber has confirmed that 20 people have been sacked from

the company as part of an investigation into sexual

harassment. -- Uber. The company set up a hotline in February for staff

to report issues. There were 215 claims. I earlier spoke with Dave

Lee, if all the firings were over sexual harassment. They were not in

the company was very keen to stress that. They related to a variety of

things. The breakdown was that many of the complaints were dealing with

things like unprofessional behaviour, leading, physical

security and discrimination and they didn't specify it was gender but it

was of any kind and sexual harassment made up 47 of the 215

claims they got in total and 20 staff were terminated as a result of

some of those claims. A big move for Uber and they are under a lot of

pressure to clear house on some of this bad workplace culture they seem

to have caught. Clearinghouse indeed. What more do you know about

these dismissed Uber employees? They have not released the names of the

employees but we have been told that have leased a one fired employees

was a very senior worker at the company but they will not say who

exactly that is. We do know there may be more to come. There are still

57 cases still being reviewed so that could be more disciplinary

action on the way. Next week, we are expecting to hear even more about

how Uber is attempting to change its culture. There are meant to be

reports released to staff outlining some of the things they are going to

change. This problem is not going away from Uber but they are keen to

show they are getting on top of it for the time being. That was Dave

Lee in Silicon Valley. The global financial industry is keeping a

close eye on a vote in Washington which could undo reforms put in

place after the 2008 financial crisis. The financial choice act

will repeal key laws, regulating banks, that were established during

the Obama Administration. It would eliminate some regular trip powers.

It would also exempt banks from many existing financial rules if they

need to boost their capital reserves. Earlier, I spoke to Eric

Yuen. I asked if this could lead to a repeat of 2008? If that were to be

the case, I would be concerned but I do not think so. First of all, it's

a debatable question whether the original bill stated -- achieved its

purpose, which was to do away with the undue accesses of the banks in

2008. As a practical matter, as a matter of political reality, it is

highly unlikely that much of the provisions that the Wall Street

banks have been against would be repealed. If indeed this becomes a

reality, how would this impact the backing of financial institutions in

Asia? You might it frees up well capitalised banks with a 10%

leveraged ratio much of the risk-based capital and stress tests

and other regulations. It would free up more capital to allow banks to

engage in a greater amount of lending. Also, if the despised rule

against proprietary trading is restricted, that would also be

welcome relief for the banks. Naoto Miyamoto overseas Yahoo Japan, the

on line portal being one of the most influential -- influential news

sites in the country. His days are long and he often eats Breakfast on

the run. We caught with him -- we caught up with him for a sitdown

meal. I am ready for my Japanese

Breakfast. That was Naoto Miyamoto from Yahoo Japan in Tokyo. Before we

go, use our quick look at the markets. Japan, South Korea and

Australia are all open for business and investors there are jittery

after US equities mostly retreated two days before the British general

election and congressional testimony from fired former FBI chief James

Comey. As the Wall Street -- Wall Street,

the key indices fell in negative territory, closing down by 48

points. They give are joining us. Goodbye for now.

The headlines this sour. UK security services are facing more questions

following revelations that they were warned about the