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Stay with BBC News. | 0:00:00 | 0:00:00 | |
And the top story here in the UK: | 0:00:00 | 0:00:02 | |
The Chancellor, Philip Hammond,
has said he'll use this week's | 0:00:02 | 0:00:05 | |
budget to speed up the building
of hundreds of thousands | 0:00:05 | 0:00:07 | |
of new homes. | 0:00:08 | 0:00:11 | |
More on that later. | 0:00:11 | 0:00:12 | |
Now on BBC News all the latest
business news live from Singapore. | 0:00:12 | 0:00:18 | |
Japan's latest trade figures show
the economy is on a winning streak, | 0:00:18 | 0:00:23 | |
thanks to a healthy demand for cars
and electronics. And imagine sending | 0:00:23 | 0:00:29 | |
your job offer an education gaming.
The idea in Singapore is getting | 0:00:29 | 0:00:33 | |
respect and even support from the
government. Hello and welcome to | 0:00:33 | 0:00:43 | |
Asia Business Report. My name is
Sharanjit Leyl. You could say it was | 0:00:43 | 0:00:49 | |
the start of the shopping season in
many countries around the world. | 0:00:49 | 0:00:52 | |
Before we get there, what is on the
economic and business calendar for | 0:00:52 | 0:00:55 | |
the next few days? Japan just
reported its trade data, showing it | 0:00:55 | 0:00:59 | |
is gaining traction. It rose 14%
from last year. Later today, we have | 0:00:59 | 0:01:10 | |
Thailand enacting its third-quarter
GDP numbers. On Thursday, Singapore | 0:01:10 | 0:01:17 | |
does basically the same, out with
its data. And we know that Thursday | 0:01:17 | 0:01:22 | |
is also a public holiday in the US
as they celebrate Thanksgiving. No | 0:01:22 | 0:01:26 | |
mention that because the very next
day is the biggest shopping day of | 0:01:26 | 0:01:30 | |
the year in America. In fact, it is
called Black Friday, because | 0:01:30 | 0:01:35 | |
traditionally it was the day of the
year when many retailers would be in | 0:01:35 | 0:01:40 | |
the black or profitable. Nowadays,
it is known as the date retailers | 0:01:40 | 0:01:47 | |
offer specials to shoppers and start
the festive season. Earlier, I spoke | 0:01:47 | 0:01:55 | |
to Alex Staples, and asked whether
he thought the Japanese are peak | 0:01:55 | 0:01:59 | |
would last. It looks like the
programme of Abenomics is starting. | 0:01:59 | 0:02:11 | |
The weaker yen has promoted exports.
But there has also been resurgent | 0:02:11 | 0:02:18 | |
Maduranga well. The global economy
is doing well this year. We expected | 0:02:18 | 0:02:21 | |
to expect it to grow at just under
3%, and that extra demand has been | 0:02:21 | 0:02:25 | |
boosting exports from Japan. You
talk about the global economy, but | 0:02:25 | 0:02:28 | |
what about here, close to home, in
South East Asia? You have these | 0:02:28 | 0:02:32 | |
growth numbers out from Thailand and
even here in Singapore. What are you | 0:02:32 | 0:02:36 | |
expecting there this week? Similar
story. Around the region, | 0:02:36 | 0:02:41 | |
particularly based on strong demand
in China that we have seen, stronger | 0:02:41 | 0:02:48 | |
than was forecast at earlier in the
year. That has lifted GDP growth in | 0:02:48 | 0:02:54 | |
many south-east Asian countries,
particularly in places like Malaysia | 0:02:54 | 0:02:56 | |
and also Thailand, as well. Thailand
is growing at a good rate. We expect | 0:02:56 | 0:03:00 | |
to see continuing positive data out
this week. Alidad based on surge in | 0:03:00 | 0:03:07 | |
demand for exports as well. China,
of course, a big component of that. | 0:03:07 | 0:03:12 | |
Singapore is a bit different, isn't
it, because we are not a | 0:03:12 | 0:03:16 | |
resource-based economy. -- all of
that based on. The uptick in oil and | 0:03:16 | 0:03:21 | |
gas prices have been positive for
Singapore. We expect bread to | 0:03:21 | 0:03:28 | |
average about $60 a barrel this
year, significantly up from where we | 0:03:28 | 0:03:34 | |
were last here. That is not that
sector here, which is very important | 0:03:34 | 0:03:39 | |
in Singapore. But also, global
trade, go back to the trade issue, | 0:03:39 | 0:03:43 | |
very important for Singapore. And we
expect rate recently made 4.6% | 0:03:43 | 0:03:47 | |
growth this year. So Singapore is
benefiting from the uptick in oil | 0:03:47 | 0:03:51 | |
and also from trade. All right, and
with all this global trade, it is | 0:03:51 | 0:03:55 | |
all about goods, is that it? Bowser
to America. This week, a lot of | 0:03:55 | 0:04:00 | |
people are buying for Black Friday.
You expecting any records to be | 0:04:00 | 0:04:06 | |
broken? -- a lot of that goes to
America. Last week, we saw that | 0:04:06 | 0:04:12 | |
worth of sales in one-day. We would
not expect to see the States matter | 0:04:12 | 0:04:20 | |
level. Be shifting towards
e-commerce, we can continue to see | 0:04:20 | 0:04:25 | |
that in the States. It will be
interesting to see what consumer | 0:04:25 | 0:04:29 | |
commons is like there as well. The
economy there is doing pretty well. | 0:04:29 | 0:04:34 | |
New job growth, new housing starts,
more corporate investment, as well. | 0:04:34 | 0:04:38 | |
And this plays into the story of
what will happen with interest | 0:04:38 | 0:04:42 | |
rates. And that was Alex Staples
speaking to me earlier. And Toshiba | 0:04:42 | 0:04:46 | |
shares have lost about 5% this
Monday morning after board members | 0:04:46 | 0:04:49 | |
approved a plan to raise more than
$5 billion from the sale of new | 0:04:49 | 0:04:55 | |
shares. It is a key step, of course,
that would allow the troubled | 0:04:55 | 0:04:59 | |
conglomerate to remain a publicly
traded company, even if the | 0:04:59 | 0:05:02 | |
offloading of its chip company is
delayed. It needs to raise almost $7 | 0:05:02 | 0:05:07 | |
billion to plug a balance sheet hole
by March. Otherwise it will be | 0:05:07 | 0:05:13 | |
delisted from the Tokyo stock
exchange. Same with corporate Japan, | 0:05:13 | 0:05:18 | |
Honda is recalling 900,000 units of
this model, the Odyssey minivan. It | 0:05:18 | 0:05:28 | |
is the latest manufacturer to have
quality control issues, this to. | 0:05:28 | 0:05:35 | |
Matt Morrison joins us in the
studio. What exactly is going on? As | 0:05:35 | 0:05:39 | |
you said, this is the Odyssey
minivan. About 900,000, 800,000 of | 0:05:39 | 0:05:45 | |
them are in the United States. So
this is model is right up to the | 0:05:45 | 0:05:52 | |
present. The issue is that there
have been about 46 reported | 0:05:52 | 0:05:55 | |
injuries, and that has happened with
the second row of seats. They come | 0:05:55 | 0:06:00 | |
forward if not properly latched. In
fact, the company said that happens | 0:06:00 | 0:06:04 | |
due to moderate or every breaking --
moderate or heavy braking. They said | 0:06:04 | 0:06:12 | |
this will not happen if it is
properly latched. They have posted | 0:06:12 | 0:06:17 | |
instructions on their website, and
said that if you follow the | 0:06:17 | 0:06:22 | |
instructions, it will be fine. They
will fix it at no charge. This comes | 0:06:22 | 0:06:26 | |
at a bad time for Honda. They paid
nearly half $1 billion to settle | 0:06:26 | 0:06:30 | |
claims related to their airbag
scandal. That is where the airbags | 0:06:30 | 0:06:37 | |
exploded. Unfortunately, 17 deaths
linked to that, not just Honda, but | 0:06:37 | 0:06:42 | |
it is worldwide. But it is not just
Honda. This is ailing a lot of | 0:06:42 | 0:06:48 | |
corporate Japan, isn't it?
Absolutely. If you start with water | 0:06:48 | 0:06:51 | |
makers, Subaru, 250,000 cars recall
just a few weeks ago. Nissan, they | 0:06:51 | 0:07:00 | |
had people on who were not qualified
to take cars. Mitsubishi had their | 0:07:00 | 0:07:07 | |
fuel emissions problems. What is at
stake here is the repetition of | 0:07:07 | 0:07:10 | |
Japan. One of two mistakes can be
forgiven, but if this is a long-term | 0:07:10 | 0:07:16 | |
trend, this could be a problem. --
one or two. Now, a career in gaming | 0:07:16 | 0:07:20 | |
would have been unbeatable here in
Asia reviews ago. But e-sports art | 0:07:20 | 0:07:29 | |
gaining -- are gaining a good
reputation. Singapore was to help | 0:07:29 | 0:07:37 | |
train new game is to go
professional. If they make it, huge | 0:07:37 | 0:07:42 | |
prizes worth millions of dollars are
at stake. -- wants. Let's take a | 0:07:42 | 0:07:45 | |
look. | 0:07:45 | 0:07:51 | |
You see a lot of professional games,
and how these players work as a | 0:08:08 | 0:08:13 | |
team. They can stay together, live
together, train together. It is | 0:08:13 | 0:08:17 | |
quite interesting that you get to
fly around and compete, and showcase | 0:08:17 | 0:08:22 | |
your skills and talents. | 0:08:22 | 0:08:24 | |
I was a competitive game, and I
realised that I am actually stronger | 0:08:58 | 0:09:05 | |
in strategy, and my reflexes are not
as fast as some other players, so I | 0:09:05 | 0:09:12 | |
not use what I have do educate more
gamers? Besides the competitive game | 0:09:12 | 0:09:26 | |
input itself, there are a lot more
auxiliary roles out there. | 0:09:26 | 0:09:31 | |
Commentators, which broadcast and
make the match exciting. The | 0:09:31 | 0:09:37 | |
coaches, trainers, all these
essential roles. | 0:09:37 | 0:09:45 | |
Some potential champions you were
watching me. Let's with the markets | 0:09:53 | 0:09:58 | |
before we go. Asian markets are
fairly mixed, actually. We are | 0:09:58 | 0:10:04 | |
seeing Australia lower. The Nikkei
is trading lower as well. At that is | 0:10:04 | 0:10:09 | |
due to Toshiba and the shares issue
that I spoke to you about a earlier. | 0:10:09 | 0:10:14 | |
We are seeing concern and caution in
the market after the German | 0:10:14 | 0:10:18 | |
coalition talks stood at an impasse.
That is having an impact on the | 0:10:18 | 0:10:24 | |
euro, and all those tax reform
issues in the US as well. And that | 0:10:24 | 0:10:27 | |
is it for this addition of Asia
Business | 0:10:27 | 0:10:29 |