:00:00. > :00:00.That is all for now. Stay with us. More coming up from me later, but
:00:00. > :00:17.first, all the business news with Rico Hizon in Singapore and Asia
:00:18. > :00:23.Business Report. We look at what companies in America and Asia want
:00:24. > :00:38.from the US Fed 's intraday's meeting. --.
:00:39. > :00:48.I'm glad you could join us. I am Rico Hizon. It is less than 24 hours
:00:49. > :00:52.before we find out if the US central bank will raise interest rates for a
:00:53. > :00:58.second time this year. Analysts widely expect the Fed to increase
:00:59. > :01:04.the cost of borrowing. It has fallen to a 16 year low and economic growth
:01:05. > :01:07.appears to have picked up, with inflation so low, Wieters the Fed
:01:08. > :01:16.stand ready to act again? Michelle Fleurieu has more from New York. --
:01:17. > :01:21.Fleury. This factory is growing at a dizzying pace. We have been grown
:01:22. > :01:29.for the last 18 months between 15 and 18%. This woman left university
:01:30. > :01:33.to set up this start-up, hoping to revive an industry many left for
:01:34. > :01:36.dead. Here, they sell close not to customers but directed to
:01:37. > :01:42.businesses, who demand a fast turnaround. The firm now employs 65
:01:43. > :01:50.people, and has set up its own university to train people. We knew
:01:51. > :01:55.right from the beginning that we had to train our workforce, make them
:01:56. > :01:58.employable. So we do that. We have had had 18 graduates from the
:01:59. > :02:06.university are ready, and then they graduate from the system. The Djere
:02:07. > :02:12.the Federal reserve must decide if the rest of the economy still needs
:02:13. > :02:16.support in the shape of altar low borrowing costs. -- Suuchi. This
:02:17. > :02:23.former official believes they are ready to act. This economic data was
:02:24. > :02:26.next to me so why the rush? It has been mixed because the inflation
:02:27. > :02:31.numbers have softened a little. A lot of that has been transitory and
:02:32. > :02:34.surprising declines in things like cellphone bills, oil prices having
:02:35. > :02:39.dropped a little, but they are likely to be temporary. The key
:02:40. > :02:45.thing is the labour market continues to tighten. With the unemployment
:02:46. > :02:50.rate at a 16 year low, those inside here are betting that wage growth
:02:51. > :02:55.might not be far behind. A driving force in the global economy, America
:02:56. > :02:58.is enjoying one of the longest expansions in its history. To
:02:59. > :03:02.prevent the economy from overheating, the US central bank is
:03:03. > :03:05.likely to raise interest rates this Wednesday, in another step towards
:03:06. > :03:13.concluding the stimulus campaign that began after the financial
:03:14. > :03:16.crisis. Michelle Fleury, BBC News, Washington. Even if they increase
:03:17. > :03:26.rates, it is unlikely that Asian central banks will follow suit. What
:03:27. > :03:30.we have seen, despite a lot of talk and a text book approach that other
:03:31. > :03:34.central banks would have to move along, the reality is that in the
:03:35. > :03:37.past, when the US Fed has done this, Asian central bank said not
:03:38. > :03:43.necessarily that long. And so much of the issues are actually local
:03:44. > :03:53.issues and dagger to base their decisions on local conditions. Not
:03:54. > :03:59.what the US Fed does. How could this impact Asian companies? There are
:04:00. > :04:02.several potential impact. These are, ageing committee to borrow US
:04:03. > :04:09.dollars could face higher borrowing costs if the US dollar appreciates.
:04:10. > :04:16.But on the other hand, the outlook for growth in Asia is still very
:04:17. > :04:25.good. There has been close to 6% growth in Asia projected by the ADB.
:04:26. > :04:28.Even with higher US interest rates or a higher borrowing cost, Asian
:04:29. > :04:32.companies ago to make money this year based on local economic
:04:33. > :04:36.conditions, and given that the other plagiarist generally positive, the
:04:37. > :04:42.fact that the US raises rates by a small amount, or later this year, is
:04:43. > :04:46.from Ali to have the monumental impact that some of the pundits tell
:04:47. > :04:52.us. -- given that the other forecasts are generally positive. So
:04:53. > :04:58.much of the growth is based on local economic conditions. Even with high
:04:59. > :05:02.rates, US growth is generally good, so on the export side, if the US is
:05:03. > :05:09.growing, that is good for Asian exporters, and domestic me, for
:05:10. > :05:12.companies that make money to local market selling products and services
:05:13. > :05:17.locally, the outlook is good in Asia this year. So they should not see a
:05:18. > :05:21.impact on local sales or local economic conditions in the because
:05:22. > :05:25.the US Fed raises rates. So much of this sentiment over this issue is
:05:26. > :05:30.built on, and the focus should be a local economic conditions in the
:05:31. > :05:39.Asian market. Ross Finegold in Hong Kong. In other business news, the
:05:40. > :05:44.boss of Uber players who take time away from the company and could
:05:45. > :05:51.return in a diminished role. This comes after a review of management
:05:52. > :06:02.and practices after a former employee's claims about sexual
:06:03. > :06:07.harassment. One of China's is known billionaires is stepping down from
:06:08. > :06:15.Anbang. He has only given personal reasons. Chinese media has reported
:06:16. > :06:20.that Mr Wu was detained by authorities last week. There has
:06:21. > :06:35.been billion-dollar loan five provincial capitals in Bangladesh.
:06:36. > :06:41.In aviation, Katter Airways has told the BBC the Donald Trump is not a
:06:42. > :06:56.business friendly president. -- Qatar. Saudi Arabia, Bahrain, and
:06:57. > :07:10.Egypt have accused Doha of supporting terrorism and getting too
:07:11. > :07:13.close to Iran. The implication that Qatar has been allied with terrorism
:07:14. > :07:18.is incorrect. We have been the leaders in fighting terrorism. We
:07:19. > :07:23.have the largest base outside the United States. We have 10,000
:07:24. > :07:27.American troops here. Don't you think that a leader of a superpower
:07:28. > :07:34.should at least have his act together and be consistent? How can
:07:35. > :07:39.he be business friendly as a president if he is encouraging and
:07:40. > :07:45.condoning the blockade of the tiny nation that is so important in the
:07:46. > :07:52.Emre Can fight against terrorism. That was the boss of Qatar Airways.
:07:53. > :07:59.Elliott management has called BHP Billiton to upgrade its board of
:08:00. > :08:06.directors. This comes as the move to choose a new chairman. Electronic
:08:07. > :08:11.giants have been grabbing headlines at the largest gaming show in the
:08:12. > :08:17.world, E3, not least Nintendo, which has introduced a number of new
:08:18. > :08:25.games. All these games are being launched for the Iran. But after
:08:26. > :08:28.dominating the industry for decades, Japanese and these are now
:08:29. > :08:35.struggling with a petition. Earlier, I spoke to David Haig about why. In
:08:36. > :08:41.the 90s, they had the discipline and hard work, they had the product
:08:42. > :08:48.around the world. -- Iran. But now there are several other countries.
:08:49. > :08:52.-- David Haigh. Why have these companies fall behind and Koreans
:08:53. > :09:01.and Chinese caught up with an? One of the things is culture. -- up with
:09:02. > :09:04.them. In China, India, they argue that they change things and they
:09:05. > :09:08.rapidly change. They fulfilled the lines as they arise. Is also
:09:09. > :09:15.possible, David, that there is not enough international talent and
:09:16. > :09:26.creativeness in these Japanese countries, companies? -- Japanese
:09:27. > :09:29.companies? Ted Mack I think that is true. They are sometimes very
:09:30. > :09:35.difficult to deal with because of the overpowering culture of not
:09:36. > :09:39.arguing or changing things. Jese make what must these companies do to
:09:40. > :09:54.change things up now compete with the cheaper Korean Chinese brands?
:09:55. > :09:57.-- just what must these countries. They need a wider range of talent
:09:58. > :10:03.coming to this covered it. What about the governments and the
:10:04. > :10:52.accounting scandals, all these things have hurt the Japanese
:10:53. > :11:01.The headlines: Jeff Sessions has told the congressional committee
:11:02. > :11:02.that allegations his campaign colluded