:00:00. > :00:00.after Brexit during any transitional period.
:00:00. > :00:16.Now on BBC News, all the latest business news live from Singapore.
:00:17. > :00:25.Interest rates take centre stage this week in Australia and India us.
:00:26. > :00:32.Taking a closer look at the business calendar and what you need to know.
:00:33. > :00:39.Japan start up rates are the lowest in the world. Can these young
:00:40. > :00:46.inventors jumpstart the economy of Japan? Good morning, Asia. Hello,
:00:47. > :00:50.world. Welcome to another edition of Asia Business Report. It's a Monday.
:00:51. > :00:55.It is gearing up to be a big week for corporate earnings and monetary
:00:56. > :01:02.policy in the region. Later today, we expect quarterly earnings from
:01:03. > :01:09.Japan's Panasonic and British lender HSBC. On Tuesday, the Reserve Bank
:01:10. > :01:15.of Australia gets together, expected to keep interest rates at 1.5%.
:01:16. > :01:23.Midweek, India's Reserve Bank will decide on rates. Rio Tinto will give
:01:24. > :01:30.interim earnings as well. Here are more details. If you look at what
:01:31. > :01:38.has been good in the Japan economy, it is technological goods. Panasonic
:01:39. > :01:46.is high. From the profit planning perspective, a lot of them use the
:01:47. > :01:53.yen. Certainly, there is room for profit. Rio Tinto may be different
:01:54. > :01:57.in the sense that expectations for the commodity sector have been poor.
:01:58. > :02:03.90% of their revenue comes from iron ore which is doing well. Investors
:02:04. > :02:08.are expecting a buyback and higher dividends. There is good news. What
:02:09. > :02:13.about big financial giants like HSBC? Will they mirror what we have
:02:14. > :02:19.been seen from other big international banks? They will hope
:02:20. > :02:23.their trading results are better. The expectation is they will have
:02:24. > :02:28.quite a strong release as well. Investors are hoping for a buyback.
:02:29. > :02:32.It is a common theme for these financial places. In terms of
:02:33. > :02:36.central banks as well, we're hearing from the Australians and Indians
:02:37. > :02:41.this week. What are we expecting in terms of monetary policy? The
:02:42. > :02:46.Reserve Bank Australia has to be reserved about housing. So not much.
:02:47. > :02:49.They have to worry about the strength of the currency. The
:02:50. > :02:54.inflation backdrop is not as robust as you would expect in the easing
:02:55. > :02:59.cycle, they will probably do nothing. India is different. They
:03:00. > :03:07.have a 25 basis cut in the market. But with liquidity following the
:03:08. > :03:12.reverse of monetisation, there are things to expect. Officials will not
:03:13. > :03:17.just be dealing with the economy, they are holding last-ditch talks
:03:18. > :03:23.with the UK's largest trade union to avert the first strike in 50 years.
:03:24. > :03:30.Meton security and hospitality staff of the bank are threatening to go on
:03:31. > :03:38.strike. The trade union claims it will make the bank more effective.
:03:39. > :03:43.Guitar's diplomatic row with four Arab states is affecting its foreign
:03:44. > :03:48.reserves severely. The net international reserves fell by more
:03:49. > :03:54.than $10 billion in June to the lowest level in at least five years.
:03:55. > :04:01.-- Qatar. Four Arab states cut ties with them alleging they support
:04:02. > :04:10.terrorism. Unlike the majority of Americans, or even the Chinese, most
:04:11. > :04:13.Japanese don't consider being an entrepreneur a good career choice.
:04:14. > :04:19.The government is trying to change that to be with me is the BBC's
:04:20. > :04:26.Mariko Oi. You have gone to Japan for a series of reports on this.
:04:27. > :04:30.Usually, entrepreneurship has the challenge of starting with enough
:04:31. > :04:35.money. In Japan, there is plenty available. The government has been
:04:36. > :04:39.offering a lot of subsidies. That is because entrepreneurship in general
:04:40. > :04:44.creates jobs and activities in the economy. When it was at its peak,
:04:45. > :04:52.Japan's economy, the start-up rate was more than double what it is
:04:53. > :04:56.today, when we saw Walkman and Bullet Trains and so on. We haven't
:04:57. > :05:00.seen much since then. The government is trying to encourage it. The
:05:01. > :05:05.cultural issue is one of the reasons it has in one of the lowest in the
:05:06. > :05:09.world. I went home to meet four young entrepreneurs all under the
:05:10. > :05:14.age of 30. We will take a look. Navigating through morning
:05:15. > :05:22.rush-hour. This 28-year-old was once a salary man. But today he is a rare
:05:23. > :05:26.breed here, an entrepreneur. TRANSLATION: I wanted to create a
:05:27. > :05:32.new product. I wanted to be an inventor. This is the product he
:05:33. > :05:37.came up with. A lock that can be controlled by smart devices. It is
:05:38. > :05:43.used in not just offices but also in shared accommodation. TRANSLATION:
:05:44. > :05:47.It started when I was talking to my friends about how inconvenient keys
:05:48. > :05:53.were. Everything else is becoming digital. So why can't we make keys
:05:54. > :05:58.more digital? We did not make prototypes thinking we would start a
:05:59. > :06:01.company. We were getting together on weekends and after work just as a
:06:02. > :06:05.hobby. That hobby turned into a multi-million dollar company in just
:06:06. > :06:13.three years, growing from six to more than 50 staff. So, this is how
:06:14. > :06:21.the product works. If I have a room with one of his clients, I download
:06:22. > :06:26.the application and get sent a code. All I have to do is do to gain
:06:27. > :06:30.access. So my phone essentially becomes the key during my stay. And
:06:31. > :06:37.when I checked out, the code expires. So the owner and I actually
:06:38. > :06:40.don't even have to meet. TRANSLATION: Not many entrepreneurs
:06:41. > :06:46.can be successful the first time around. We need to learn from our
:06:47. > :06:50.mistakes and failures. But in Japan, once you fail, you struggle to get
:06:51. > :06:54.investment. I have met friends like that. Japan needs to become more
:06:55. > :06:59.forgiving of failure. As the rest of corporate Japan goes home, young
:07:00. > :07:07.inventors are dreaming big. The sign on the wall says never miss a good
:07:08. > :07:10.opportunity. For many who try and follow his footsteps, it may not be
:07:11. > :07:18.the of opportunities, but the fear of failure, that is holding them
:07:19. > :07:26.back. And she will have a lot more every week. The elite hackers of the
:07:27. > :07:38.world were recently in Las Vegas for Defcon. The best way to get support
:07:39. > :07:50.from hackers is an onstage demo, and one group did it, and they did it
:07:51. > :07:55.with a cheap robot. There are several hundred here. They are
:07:56. > :08:16.trying to hack that safe. From the outside of the safe, this
:08:17. > :08:24.thing is magnetic, we walked up, attach it to be safe, and it starts
:08:25. > :08:31.doing its thing. -- walk. -- The. A normal state has 1 million
:08:32. > :08:38.combinations. This reduces that from 1 million down to 1000. Doing a demo
:08:39. > :09:11.at Defcon is stressful, but we are pretty excited.
:09:12. > :09:27.CLAPPING. So excited. We got it open. That was the scariest thing
:09:28. > :09:31.ever. This robot is never going to come into someone's home and open up
:09:32. > :09:37.a safe. There are many other things they should be worried about. Not a
:09:38. > :09:45.robot. This is just a fun demonstration.
:09:46. > :09:54.Quite the show. Staying with technology, Samsung has dethroned
:09:55. > :10:01.Intel as the largest chipmaker in the world by revenue. They make most
:10:02. > :10:05.of their profits by the sales of memory chips used in mobile phones.
:10:06. > :10:11.They have a quarterly revenue of $15.7 billion. Intel had $14.8
:10:12. > :10:17.billion revenue on the other hand. The markets and how they have
:10:18. > :10:21.opened. Asia, the Nikkei over in Tokyo is fairly flat at the moment.
:10:22. > :10:27.A slightly stronger yen eating into those export related stocks. The All
:10:28. > :10:34.Ordinaries Index industry is down 1%. And that is it for this edition
:10:35. > :10:35.of Asia Business