14/06/2017 Asia Business Report

That is all for now. Stay with us. More coming up from me later, but

first, all the business news with Rico Hizon in Singapore and Asia

Business Report. We look at what companies in America and Asia want

from the US Fed 's intraday's meeting. --.

I'm glad you could join us. I am Rico Hizon. It is less than 24 hours

before we find out if the US central bank will raise interest rates for a

second time this year. Analysts widely expect the Fed to increase

the cost of borrowing. It has fallen to a 16 year low and economic growth

appears to have picked up, with inflation so low, Wieters the Fed

stand ready to act again? Michelle Fleurieu has more from New York. --

Fleury. This factory is growing at a dizzying pace. We have been grown

for the last 18 months between 15 and 18%. This woman left university

to set up this start-up, hoping to revive an industry many left for

dead. Here, they sell close not to customers but directed to

businesses, who demand a fast turnaround. The firm now employs 65

people, and has set up its own university to train people. We knew

right from the beginning that we had to train our workforce, make them

employable. So we do that. We have had had 18 graduates from the

university are ready, and then they graduate from the system. The Djere

the Federal reserve must decide if the rest of the economy still needs

support in the shape of altar low borrowing costs. -- Suuchi. This

former official believes they are ready to act. This economic data was

next to me so why the rush? It has been mixed because the inflation

numbers have softened a little. A lot of that has been transitory and

surprising declines in things like cellphone bills, oil prices having

dropped a little, but they are likely to be temporary. The key

thing is the labour market continues to tighten. With the unemployment

rate at a 16 year low, those inside here are betting that wage growth

might not be far behind. A driving force in the global economy, America

is enjoying one of the longest expansions in its history. To

prevent the economy from overheating, the US central bank is

likely to raise interest rates this Wednesday, in another step towards

concluding the stimulus campaign that began after the financial

crisis. Michelle Fleury, BBC News, Washington. Even if they increase

rates, it is unlikely that Asian central banks will follow suit. What

we have seen, despite a lot of talk and a text book approach that other

central banks would have to move along, the reality is that in the

past, when the US Fed has done this, Asian central bank said not

necessarily that long. And so much of the issues are actually local

issues and dagger to base their decisions on local conditions. Not

what the US Fed does. How could this impact Asian companies? There are

several potential impact. These are, ageing committee to borrow US

dollars could face higher borrowing costs if the US dollar appreciates.

But on the other hand, the outlook for growth in Asia is still very

good. There has been close to 6% growth in Asia projected by the ADB.

Even with higher US interest rates or a higher borrowing cost, Asian

companies ago to make money this year based on local economic

conditions, and given that the other plagiarist generally positive, the

fact that the US raises rates by a small amount, or later this year, is

from Ali to have the monumental impact that some of the pundits tell

us. -- given that the other forecasts are generally positive. So

much of the growth is based on local economic conditions. Even with high

rates, US growth is generally good, so on the export side, if the US is

growing, that is good for Asian exporters, and domestic me, for

companies that make money to local market selling products and services

locally, the outlook is good in Asia this year. So they should not see a

impact on local sales or local economic conditions in the because

the US Fed raises rates. So much of this sentiment over this issue is

built on, and the focus should be a local economic conditions in the

Asian market. Ross Finegold in Hong Kong. In other business news, the

boss of Uber players who take time away from the company and could

return in a diminished role. This comes after a review of management

and practices after a former employee's claims about sexual

harassment. One of China's is known billionaires is stepping down from

Anbang. He has only given personal reasons. Chinese media has reported

that Mr Wu was detained by authorities last week. There has

been billion-dollar loan five provincial capitals in Bangladesh.

In aviation, Katter Airways has told the BBC the Donald Trump is not a

business friendly president. -- Qatar. Saudi Arabia, Bahrain, and

Egypt have accused Doha of supporting terrorism and getting too

close to Iran. The implication that Qatar has been allied with terrorism

is incorrect. We have been the leaders in fighting terrorism. We

have the largest base outside the United States. We have 10,000

American troops here. Don't you think that a leader of a superpower

should at least have his act together and be consistent? How can

he be business friendly as a president if he is encouraging and

condoning the blockade of the tiny nation that is so important in the

Emre Can fight against terrorism. That was the boss of Qatar Airways.

Elliott management has called BHP Billiton to upgrade its board of

directors. This comes as the move to choose a new chairman. Electronic

giants have been grabbing headlines at the largest gaming show in the

world, E3, not least Nintendo, which has introduced a number of new

games. All these games are being launched for the Iran. But after

dominating the industry for decades, Japanese and these are now

struggling with a petition. Earlier, I spoke to David Haig about why. In

the 90s, they had the discipline and hard work, they had the product

around the world. -- Iran. But now there are several other countries.

-- David Haigh. Why have these companies fall behind and Koreans

and Chinese caught up with an? One of the things is culture. -- up with

them. In China, India, they argue that they change things and they

rapidly change. They fulfilled the lines as they arise. Is also

possible, David, that there is not enough international talent and

creativeness in these Japanese countries, companies? -- Japanese

companies? Ted Mack I think that is true. They are sometimes very

difficult to deal with because of the overpowering culture of not

arguing or changing things. Jese make what must these companies do to

change things up now compete with the cheaper Korean Chinese brands?

-- just what must these countries. They need a wider range of talent

coming to this covered it. What about the governments and the

accounting scandals, all these things have hurt the Japanese

The headlines: Jeff Sessions has told the congressional committee

that allegations his campaign colluded