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She says the UK is close to a deal
to move on to trade talks.
Labour said the government's
approach to Brexit was
now an embarrassment.
Now on BBC News all the latest
business news live from Singapore.
Canada tries to salvage free-trade
talks with the Chinese before the
Prime Minister, Justin Trudeau,
wraps up this trip to the mainland.
And the chief of Air France launches
an airline catering to Minelli and
-- millennials. Will be ID take off?
-- idea. Good morning. Hello, world.
It is Wednesday. Glad you could join
us for another action packed edition
of Asia Business Report. I'm Rico
Hizon. We start of Canada and the
Prime Minister, Justin Trudeau, has
left Beijing for the industrial city
of Gwangju on his men they too. He
met the country's leader Xi Jinping
on Tuesday for a state dinner. China
is currently Canada's second-largest
trading partner with annual
bilateral trade worth around 70
billion US dollars. The two sides
had expected to launch formal
negotiations for a free-trade pact
during Mr Trudeau's visit, but
progress is proving to be slow.
China has had similar agreements
with New Zealand and Australia.
Earlier, I spoke rolling.
taken a principled approach to free
trade. I think I has been stable and
fixed in his approach that any trade
deal to become rancid, progressive,
and ultimately to the benefit of
Is it to principles? He
wants to achieve trade deals
involving Labour, gender, and
governance issues. I think the Prime
Minister will be empowered by the
fact the DPP is called the
comprehensive and progressive
Trans-Pacific Partnership. And I
think he wants to show to Canadians
that the electorate back home, that
he is focused on these ideas and
that he is not going to sell the
shock to the Chinese. But he is now
in China. Everyone thought that the
negotiations would start. He is
towards the end of his Milan 2-up.
Can it still be salvaged?
can still be salvaged. This
government is very good at guessing
solutions and outcomes and
announcing them in a way that
announces all stakeholders.
growth in Australia has just come
in. Just shy of Amla' expectations
at 0.6% for the third quarter --
analysts deposit occasions.
Australia has extended its record
straight doubling 100 five quarters
without a recession. But are there
some clouds on the horizon? I joined
by Timothy McDonald. More than 25
years without a recession. This is a
It is a record. Are you
familiar with the name Steven
Bradbury? Who is he? He was
Australia's first Winter Olympics
gold-medallist, this set -- skater.
He won because literally everyone
else in the race fell over on the
ice will stop I do not think that
will happen in the next Winter
Games. In some ways I -- Australia
seems like the Steven Bradbury
economy. It just plods along. The
growth does not tend to be
spectacular, but somehow it never
seems to fall over. It just keeps
going. Much like Steven Bradbury,
some of it has been locked. On the
other hand, standing up is part of
the job if you are a speed skater
and for an economy as well. Of
course, governments on both sides of
the aisle have claimed credit for
this record streak of going about a
recession, but that Esky was
something is in the economy and in
some ways it is a bit of an academic
figure. Australia has had some
period of fairly slow growth. Right
now there are some concerns. There
is something of a housing bubble,
prices are very high, affordability
is low. When you couple that with
slow wage growth, the RBA has
expressed some concern about that.
Then again, good retail sales
figures came out yesterday. The
reserve bank is forecasting about 3%
growth for next year. A fairly
respectable number for a developed
economy. In some ways things are
looking good for Australia. So long
as it does not slip on the ice.
Bottom Line, the streak continues.
Thank you so much the
update on the Australian economy and
for this Winter Olympics gold medal
winner, comparing him to the
Australian economy. My college
there, thank you so much for joining
us, Timothy McDonald. India's
central bank is scheduled Maka
monetary policy decision in the next
several hours. Is expected to keep
its rate on hold. Recent figures
believe that the economy is on the
rebound. But consumers have been
dealing with rising costs, a new
national taxes, and the fallout from
a sharp Giemont translation. This is
what we expect the central bank to
do moving forward.
I think the only
expectation that there is is that
they might ease again. Nobody is
looking for them to hide. Given how
inflation is panning out, we have
had growth above 6%, I do not see
how the central bank can justify
easing rates again.
What is the
biggest challenge right now facing
the economy? Is it rising inflation,
the impact from Demontre Hurst, or
I would not say that rising
inflation is the biggest threat
I would not say that rising
inflation is the biggest threat. For
next year, definitely I think
inflation is coming back on the
radar. For now, the economy has to
take into account that there are
lingering GST related outcomes.
Apart from these three factors, what
could potentially hurt the economy
The focus pretty much
remains on many's reforms agenda,
campaign, we see 2017 being a year
of two halves -- Modi's. The focus
has been much focus to reform
speaking up. Elections are coming
up. I do not see the momentum
The lead Asia
economies -- won a start Oxford
economics will stop in aviation, Air
France is hoping to stand out from
an increasingly crowded market by
launching a new low-cost character.
It is a play on the French word for
Young. It is the airline's second
attempt at courting -- cutting
costs. They want to attract
millennials were trending items such
as organic salad and juices. But is
that enough to boost earnings? That
is a question we asked Frank Turner,
the chief executive at Air France.
It is the answer to several
objectives. The first one is to
operate a lower cost airline. I'm
not saying a low-cost airline. I am
saying a low-cost airline. The
second is to project a very light
company being able to test and AMSA
new ways of travelling. New
entertainments. We will have new
mills. It is about ways of
travelling -- menials.
carriers are still quite a dominant
force in Europe. Do you think by
launching an airline like this it
will help you take on the low-cost
characters Joon is not specifically
targeted to compete with low-cost
If we do that we have the
answer, we have low-cost carriers.
The main threat and the main target
we have is to compete with the
carriers not on the low-cost segment
of but in the next segment. Not into
leisure or business.
Will it improve
your margins, because Air France
margins have always been...
is to boost our margin. It is also
to relieve the pressure on some
routes in order to commit to Air
France mainline as well as Joon to
Joe, using batterers resources.
have announced a new partnership
with Jet Airways in India. How will
this help Air France?
that India is a very big market. We
are under representing this market.
Our aim is to increase the presence.
The best way to do this is offering
the biggest opportunity possible to
the customers in Europe and in
India. The market between India and
the United States is very active.
Growing double digits. As you know,
we a very strong partnership as we
create this new opportunity and this
joint venture. What we will bring to
the Indian market is a seamless
experience between India and the US
Frank Turner of Air France.
Letters have a quick look at the
markets. Currently mixed and
lacklustre. This is after US stocks
closed in negative territory
overnight. Thank you so much for
investing your time with us. I am
Rico Hizon. Sport Today is up next.