:00:00. > :00:00.More to come. There is more coming up from me after we catch up with
:00:07. > :00:18.all the business use. Live to Rico Hizon and Asia Business Report. A
:00:19. > :00:26.huge cyber attack which started in the Ukraine is heading around the
:00:27. > :00:33.world. Indonesia survived Asian financial turmoil 20 years ago, but
:00:34. > :00:43.is it in danger of repeating its past? Good morning Asia. Hello
:00:44. > :00:47.world. It is a Wednesday. Glad you could join us for Asia Business
:00:48. > :00:51.Report. I'm Rico Hizon. We start the programme with another global cyber
:00:52. > :00:57.attack, which we discussed Newsday. Computer systems in Ukraine, Russia,
:00:58. > :01:02.the Netherlands, France, and the UK and Denmark have all been affected.
:01:03. > :01:05.When a computer is hit, users are told their files have been
:01:06. > :01:14.encrypted, and they will have two pay to get them back. Here is more
:01:15. > :01:19.from our north American reporter, Dave Lee. We just had the Wannacry
:01:20. > :01:24.attack. And many lessons were there to be learnt. Many of you not have
:01:25. > :01:27.heeded them. In the US, several big firms were affected, and as you
:01:28. > :01:32.said, it is spreading across the world in a dramatic way. I am joined
:01:33. > :01:39.by Andre McGregor. He is a security expert. What can you tell us about
:01:40. > :01:42.this attack? The world is experiencing a global ransomware
:01:43. > :01:52.attack that has crippled companies across several industries. You look
:01:53. > :01:58.at Mersk, they are reduced to working on pen and paper to conduct
:01:59. > :02:03.their business. So a crippling attack. You used to work for the
:02:04. > :02:07.FBI. They will be looking at us. What have you been hearing about the
:02:08. > :02:11.potential impact of this attack? First off, with the FBI, they are
:02:12. > :02:15.looking to find the organisation that is doing this. As far as the
:02:16. > :02:19.impact? We're looking at the fact that companies need to get going
:02:20. > :02:23.again. The way to do it is through patching. Microsoft rated a patch,
:02:24. > :02:27.pushing it out the computers that are affected, and are looking for
:02:28. > :02:34.additional services or files that can allow them to identify new
:02:35. > :02:39.systems. -- created. Why are companies not taking up these
:02:40. > :02:45.updates? They seem to have had ample warning from FBI. This is a call to
:02:46. > :02:48.action that we should be updating our old technology lab we do with
:02:49. > :02:54.roads and bridges. This time, we cannot allow the time for a
:02:55. > :02:59.government to intervene. Organisations need to patch systems
:03:00. > :03:04.in a timely manner and deal with a Nikat. Security experts are now try
:03:05. > :03:10.to find out who was responsible. That will take some time. -- and
:03:11. > :03:15.deal with them when they come up. Google has been fined $2.7 billion
:03:16. > :03:20.by the European Commission. It says the firm unfairly promoted its
:03:21. > :03:28.shopping services in search results. The company was ordered to stop
:03:29. > :03:33.these practices in 90 days, or face another fine. They have abused their
:03:34. > :03:37.market dominance. In its search engine. By promoting its own
:03:38. > :03:47.shopping comparison service in its search results, and demoting its
:03:48. > :03:51.competitors. What Google has done is illegal under EU anti-trust rules.
:03:52. > :03:58.It has denied other companies the chance to compete on their merits,
:03:59. > :04:02.and to innovate, and most importantly, it has denied European
:04:03. > :04:07.consumers the benefits of competition, genuine choice, and
:04:08. > :04:14.innovation. But Google is striking back. The technology giant says it
:04:15. > :04:20.respectfully disagrees with the European Union fine, and is
:04:21. > :04:28.considering an appeal. Shares in his -- in its parent company, Alphabet,
:04:29. > :04:33.fell. Facebook now says that more than a quarter of the world
:04:34. > :04:36.population, over 2 billion people, now use the social networking site
:04:37. > :04:45.every day. The milestone comes just after 13 years since its inception,
:04:46. > :04:49.it was created by Mark Zuckerberg while he was in university. It has
:04:50. > :04:54.doubled the number of its users in just under five years. And all this
:04:55. > :04:57.we got Asia Business Report, we have been looking at how economies in the
:04:58. > :05:02.region have fared since the Asian financial crisis, two decades ago.
:05:03. > :05:06.Nowhere was the impact greater than in Indonesia. The economic turmoil
:05:07. > :05:10.sparked riots against the Chinese community in the country, turning
:05:11. > :05:15.the streets of Jakarta into a war zone. After three decades in power,
:05:16. > :05:25.Indonesian strongman, President Suharto, resigned. For more, looking
:05:26. > :05:31.at what it is like right now, we're joined by our Asia Business Report.
:05:32. > :05:35.You grow up in Indonesia, and witnessed the transition. What it
:05:36. > :05:39.like? Is in a traffic you would be fair to say that for everybody at
:05:40. > :05:43.the time, it was a disaster movie that you are seeing playing out on
:05:44. > :05:47.your streets. I remember one of the most vivid images being the
:05:48. > :05:51.supermarket down my street on fire. And many people having to flee
:05:52. > :05:55.Jakarta. Those who could. They wanted to get out of the way of the
:05:56. > :05:58.protest. Notwithstanding that, that transition from what was a
:05:59. > :06:06.dictatorship to what is now one of the driving democracies in Southeast
:06:07. > :06:10.Asia. -- thriving. They have been peaceful transitions of government
:06:11. > :06:14.in the last 20 years. That is that it is these that. And they are also
:06:15. > :06:19.strong economy, clocking up about 5% on average every single year. But
:06:20. > :06:23.even until today, those ethnic and religious tensions are concerned.
:06:24. > :06:28.Recently, there have been protests against an ethnic Chinese mayor in
:06:29. > :06:35.Indonesia as a result of hardline Islamist 's, Bear, who are up
:06:36. > :06:42.becoming more vocal about democracy. And when I went back, they could --
:06:43. > :06:52.when I went back, I realise that could undermined some democracy
:06:53. > :06:57.there. Jakarta, one of Asia's great cities, up in place. Former
:06:58. > :07:02.President and dictator Suharto was forced to step down after three
:07:03. > :07:07.decades in power. Chaos spilt out onto the streets. Soldiers and tanks
:07:08. > :07:11.hunted down protesters. What a difference 20 years can make. In
:07:12. > :07:15.place of the protests and the tanks that once rolled down the streets,
:07:16. > :07:22.luxury mauls and foreign brand names, instead. Jakarta is
:07:23. > :07:26.Indonesia's capital, a symbol of its economic success. -- Suharto. But
:07:27. > :07:30.many are still struggling with the aftermath of the Asian financial
:07:31. > :07:34.crisis that rates of any lies in Indonesia. Back then, this woman was
:07:35. > :07:39.a successful then you might own. She showed me pictures of the store she
:07:40. > :07:42.had been building. Once she had definite one she took a loan to
:07:43. > :07:50.fund. But then crisis hit. TRANSLATION: I lost everything. I
:07:51. > :07:56.could not pay my loan because the interest late to make rate shot up.
:07:57. > :08:03.And then it got worse. The Indonesian economy pondered 80%
:08:04. > :08:09.against the US dollar. -- plummeted. Chinese Indonesians bore the brunt
:08:10. > :08:13.of the outrage, this toy store was closed three days for the rise.
:08:14. > :08:18.TRANSLATION: In the beginning, there were two scared to leave their
:08:19. > :08:23.homes, but then think about it. -- riots. And my business also grew. It
:08:24. > :08:26.is the growing middle class that has boosted the country's economic
:08:27. > :08:32.growth. And after decades of authoritarian rule, South East
:08:33. > :08:37.Asia's largest economy, today, is a thriving democracy. But democracy
:08:38. > :08:41.has also brought out a note side. Recent demonstrations against an
:08:42. > :08:45.ethnic Chinese mayor have raised concerns that small but vocal groups
:08:46. > :08:50.of hardline Muslims are getting increasingly influential,
:08:51. > :08:58.threatening Indonesia's collectability. But for those like
:08:59. > :09:04.Anne, who had to start again, success has been sweet. She now runs
:09:05. > :09:13.a farm. Her fortune and those of millions of Indonesians depend on
:09:14. > :09:18.the country's economic success. At that relies on the delicate balance
:09:19. > :09:22.keeps his together. I reported on the Asian financial crisis 20 years
:09:23. > :09:26.ago, and for many Indonesians, it was a nightmare. Tell us about the
:09:27. > :09:34.ethnic concern. And how it could impact the economy going. -- going
:09:35. > :09:37.forward. The Chinese Indonesian business community is the pillar of
:09:38. > :09:41.economic growth in the country. Many of the big businesses are owned by
:09:42. > :09:46.Chinese Indonesians. If they feel that there is a consistent threat
:09:47. > :09:50.against them, we might see some of the money in the country right now
:09:51. > :09:53.are repatriated overseas or elsewhere. And they would be a big
:09:54. > :09:56.concern for the country. Notwithstanding that, as I was
:09:57. > :10:02.saying, strong growth rates in Indonesia will turn around the
:10:03. > :10:05.economy. The finance ministry is really tried to make headway. We
:10:06. > :10:08.will have more on the Asian financial crisis with my special
:10:09. > :10:16.show this weekend. You are reporting from the Philippines on that? So
:10:17. > :10:24.lots more for our audiences. Watch out for the special report, posted
:10:25. > :10:31.by our guests, which will be on Saturday and Sunday. With that, we
:10:32. > :10:32.and this edition of Asia Business Report. Sport Today is coming up