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Now on BBC News, all the latest business news live from Singapore. | :00:00. | :00:16. | |
India's Prime Minister, Narendra Modi, looking to drum up trade ties | :00:17. | :00:25. | |
with Myanmar. Turning over a new leaf. How will Nissan's new car fare | :00:26. | :00:39. | |
in a crowded market? Good morning, Asia. Hello, world. Welcome to | :00:40. | :00:41. | |
another edition of Asia Business Report. I'm Sharanjit Leyl. Thank | :00:42. | :00:44. | |
you for joining us. India's Prime Minister, Narendra Modi, has gone to | :00:45. | :00:48. | |
Myanmar to boost trade ties. It is an important relationship for | :00:49. | :00:52. | |
Myanmar because India is the third largest destination for the exports | :00:53. | :00:55. | |
of the country. But Myanmar is coming under pressure to end the | :00:56. | :01:01. | |
violence it is reportedly inflicting on the Rohingya Muslim minority. I | :01:02. | :01:06. | |
asked if we can expect any deals from this visit. They are looking to | :01:07. | :01:15. | |
increase access between the two countries in terms of ease of travel | :01:16. | :01:19. | |
between the two nations which is important for trade and the risen. | :01:20. | :01:28. | |
-- tourism. India is a destination for medical tourism from Myanmar. | :01:29. | :01:35. | |
India has been a key market for Myanmar. It is no doubt on the | :01:36. | :01:40. | |
agenda. Is India likely at all to use China's dominance? We know China | :01:41. | :01:47. | |
is well ahead in terms of investing into Myanmar and potentially reaping | :01:48. | :01:52. | |
the benefits. Could they exert power there? Myanmar is interested in | :01:53. | :01:58. | |
diversified in its engagements with various countries and not limiting | :01:59. | :02:06. | |
itself to a few. Are they likely to achieve anything? The headlines have | :02:07. | :02:11. | |
been dominated this week by the Rohingya Reifers. Narendra Modi says | :02:12. | :02:19. | |
he wants to deport 40,000 from India. How will they get past that? | :02:20. | :02:23. | |
Among the topics discussed was security matters. This could be | :02:24. | :02:29. | |
grounds for further deepening those ties that we just discussed. We may | :02:30. | :02:35. | |
see cooperation around maritime security and these two countries, | :02:36. | :02:39. | |
they share roughly 1600 kilometres of orders, and it is important for | :02:40. | :02:45. | |
both sides to identify ways they can co-operate, build trust, current | :02:46. | :02:53. | |
issues notwithstanding. -- borders. In other news, Facebook says it has | :02:54. | :02:58. | |
discovered a Russian funded campaign to promote divisive social and | :02:59. | :03:02. | |
political messages on its network. The company said $100,000 was spent | :03:03. | :03:08. | |
on three dozen advertisements over a three-year period. They did not back | :03:09. | :03:15. | |
any political party, but talked about rights and society and a | :03:16. | :03:31. | |
quality. Hurricane Irma Hasebe Caribbean and inflicted major damage | :03:32. | :03:35. | |
on its way towards Florida. It is expected to impact the US as well. | :03:36. | :03:40. | |
It is causing disruption for airlines and oil supply routes and | :03:41. | :03:45. | |
has sent farmers scrambling to protect facilities and farm deals | :03:46. | :03:50. | |
and animals. And of cause the US is dealing with the effects of | :03:51. | :03:53. | |
hurricanes Harvey which dropped record rainfall on Texas. -- | :03:54. | :04:00. | |
Hurricane. The refineries are wanting to restart production by | :04:01. | :04:04. | |
early next week. The company that makes Sharpies is cutting its | :04:05. | :04:08. | |
earnings due to the impact of the storm. Over to Malaysia, where Prime | :04:09. | :04:17. | |
Minister Najib says he wants to see more women on boards of directors, | :04:18. | :04:28. | |
ideally 30% of all directors. Norway set 40% back in 2003 and is now | :04:29. | :04:35. | |
nearing that goal. Germany has a 30% target, similar to Malaysia. And | :04:36. | :04:38. | |
over here in Singapore, the government has a 20% target by 2020. | :04:39. | :04:45. | |
In Malaysia, the government also added that businesses without the | :04:46. | :04:51. | |
motherboard directors will be named and shamed. -- female board | :04:52. | :04:57. | |
directors. Will this make a difference? It is going in the right | :04:58. | :05:05. | |
direction. He said there is a target, not when it has to be | :05:06. | :05:08. | |
reached by. Whether it will be compulsory, voluntary... It will | :05:09. | :05:14. | |
depend on what follows from now on. But what I do now, I spoke earlier | :05:15. | :05:19. | |
this week at a conference, and a clear message was that the tone from | :05:20. | :05:23. | |
the top matters. What Malaysia is doing with this statement from the | :05:24. | :05:28. | |
Prime Minister, it is making it an issue for the entire country, which | :05:29. | :05:31. | |
is good news. In terms of benefits financially for companies, how does | :05:32. | :05:37. | |
it actually benefit a company's bottomline in terms of dollars with | :05:38. | :05:45. | |
women on board? There are many studies. A lot of it is correlation | :05:46. | :05:50. | |
rather than causation. It is hard to say exactly how much the benefit is. | :05:51. | :05:54. | |
But what is important is the McKinsey study which showed you | :05:55. | :06:02. | |
could outperform by 30% with gender diversity. By 35% if you have in | :06:03. | :06:12. | |
addition ethnically and culturally diverse companies. In Asia you have | :06:13. | :06:20. | |
cultural differences, Inge and cultural norms. That discriminated | :06:21. | :06:25. | |
against women. -- ingrained. Where are we seeing good strides in Asia? | :06:26. | :06:30. | |
Australia leads the way to be honest. They have a system where if | :06:31. | :06:37. | |
they do not meet the 30% target by 2018, mandatory quotas will come | :06:38. | :06:43. | |
into play. They are doing the best. They also have it in the public | :06:44. | :06:47. | |
sector, which I want to see in Asia. We are only talking about private | :06:48. | :06:51. | |
business targets are what about governments? They are in a better | :06:52. | :06:56. | |
position to do this. I don't really know why. They do very well. The | :06:57. | :07:03. | |
worst is Singapore is at the bottom of the list along with South Korea | :07:04. | :07:10. | |
and Japan. Once a leader in the electric car industry, Japan's | :07:11. | :07:16. | |
Nissan is now having to compete with other carmakers racing to deliver | :07:17. | :07:20. | |
semiautonomous vehicles. They have announced a second generation Leaf | :07:21. | :07:34. | |
will fall into the core product line, instead of being niche. Will | :07:35. | :07:38. | |
the plan work? We caught up with the launch. We got sent this report. It | :07:39. | :07:48. | |
was a huge production, with lots of aplomb for what is a dull looking | :07:49. | :07:57. | |
car. It is the new Nissan Leaf. Why are we here? It matters because this | :07:58. | :08:02. | |
car, the previous oration of this car, is the biggest selling electric | :08:03. | :08:09. | |
vehicle in the world. -- itieration. Nissan and other companies believe | :08:10. | :08:13. | |
this and something like it is the future. In 10- 15 years' time, most | :08:14. | :08:17. | |
of us will drive some sort of electric vehicle. But worldwide, | :08:18. | :08:23. | |
electric vehicles are still a tiny percentage of car sales to be in the | :08:24. | :08:32. | |
US, just 1.2% of cars sold last year were EVs. Why are they convinced? We | :08:33. | :08:45. | |
are convinced it is coming. Migration from hybrids to EVs is | :08:46. | :08:53. | |
coming. We are more convinced than seven years ago. It is certainly a | :08:54. | :08:58. | |
better looking car than the previous model which was kind of bug eyed and | :08:59. | :09:02. | |
an acquired taste. But the difference is the size of the | :09:03. | :09:07. | |
battery pack. With the new battery, the car can go up to 400 kilometres | :09:08. | :09:14. | |
on one charge. Normal day-to-day usage, this is more than that for | :09:15. | :09:22. | |
Japanese people. Range anxiety will not be an issue for the future. That | :09:23. | :09:28. | |
figure of 400 kilometres is very optimistic. But Kessler and | :09:29. | :09:35. | |
Chevrolet are already offering some with ranges over 300 kilometres. -- | :09:36. | :09:41. | |
Tesla. And now Nissan says they can do it as well. And that was at | :09:42. | :09:47. | |
speaking to the new Chief Executive of Nissan. The markets now and how | :09:48. | :09:54. | |
they are faring at the Asian open. We are seeing Japan's Nikkei getting | :09:55. | :10:01. | |
something of a lift from the slightly weaker yen. We did see it | :10:02. | :10:07. | |
actually fall to four-month lows just on Wednesday. It is coming back | :10:08. | :10:12. | |
somewhat as investors look for a bargain on the market. Also seeing a | :10:13. | :10:19. | |
lift to a lot of the energy shares, taking cues from Wall Street where | :10:20. | :10:24. | |
we saw gains from US markets. A lot of worry still lingering over the | :10:25. | :10:31. | |
Korean Peninsula. But Hurricane | :10:32. | :10:33. |