07/12/2017 Asia Business Report


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07/12/2017

Live from Singapore, the essential business news as it breaks and a look ahead to the news that will shape the business day.


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Theresa May is planning to come up

with a new formula to find a way

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forward in the stalled Brexit

negotiations in the next 24 hours.

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Voters in Nepal are casting their

vote as they look to and use of

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vote as they look to and use of

poverty and political instability.

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Meet the designer for Apple who

created the most profitable real

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space in the world. Good morning,

Asia, hello, world. Glad you could

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join us for another exciting Asia

Business Report. The polls have

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opened and voters are casting their

ballots in at election in Nepal. In

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the last three decades, they have

suffered an earthquake and political

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instability including an 10-year

violent insurgency. We report from

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the capital, Kathmandu. The election

are described as a watershed moment

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what this country. It witnessed a

10-year insurgency which ended in

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2006 and then the monarchy was

abolished two years later. It took

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ten years for the politicians to

agree on a constitution, that was

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last year, and that is why this

election is important. The first

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after they have adopted a new

constitution. In this election, the

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Congress is taking on a coalition.

First of all, they have the best

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infrastructure and create more jobs.

The country witnessed a devastating

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earthquake in 2015 - that had a

negative impact on the economy. One

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of the priorities will be what to do

with China initiative. Nepal

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approved in principle which aims to

boost productivity in Asia and the

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Pacific region. The idea is to build

a road from their all the way to

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Kathmandu. Politicians here hope by

investing millions of dollars with

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Chinese help, it will help to boost

the economic road in this country.

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The International Monetary Fund has

published its most recent report,

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looking at the stability of China's

financial system which has fine at

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short debt. -- financial debt. In

order to meet targets and avoid

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heavy job losses, I spoke to

business consultant. I asked him how

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concerned we should be about the

debt problem? Not terribly

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concerned. The IMF sounded the

warning is several times over the

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past couple of years looking at the

debt rising from two up to 300% by

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2022. China has been actively

addressing that debt, whether it is

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controls are round lending, looking

at the bigger pic is in investments

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going overseas, in addition,

continuing the growth path so that

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it continues to outpace the level of

debt. From its overall path and GDP,

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it is only around a thousand per

person yet, in comparison to around

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the world it is low. China has a

long way to go. They have a massive

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debt but even though it is their it

also needs to look at the assets.

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China has a great potential out

there. As a management consulting

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firm we look at some of the risks.

Where you see increased in interest

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rates, whether you see impact on

trade and potential disruption. As

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China looks at investment, you are

looking at pushback from countries

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and regions like the EU. Whether it

is Robotics. In the US you are

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seeing it in high-tech sectors. That

could constrain the growth and could

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pose additional challenges of China

in the future.

As Brexit talks

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continue, many businesses are

readjusting. We asked one how the

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shift in political and economic ties

are impacting the multinational

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bank.

So much of our business is

outside of Europe. It is an

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expensive inconvenience on the

margins. We are a bit clearer of

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euros meaning that once companies

have settled their accounts in euros

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we facilitate that and we do that

from a branch in Frankfurt and we

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need to convert that to subsidiary

and that will have to have fresh

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capital and have to be licensed by

the regulator in Germany.

Bill

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Winters, the CEO of Standard

Chartered bank. Which company has

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the most profitable retail space in

the world? It is Apple. $5,500 per

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square foot beating Harrods and

Tiffany 's. When the first one

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opened, it was actually considered

risky move. It is argued they could

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not possibly make money by the late

Steve Jobs was convinced they would

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be successful and, of course, the

rest is history. The man who

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designed the store is now based in

Singapore and we caught up with

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We started in 1987 when Steve Jobs

came back to the company. He asked

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us to think about how to present

Apple in various public realms. My

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business partner and myself started

on the whiteboard. We met with him

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every week for 12 years and grew the

programme through a number of

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processes and helped to be a part of

that transformation from what was a

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relatively small company. It was

$2.2 billion in value and now it is

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750 plus. Apple develop much more

significant differentiator products

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at that time. What has happened in

the industry is it has become...

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Strong revolutionary brands out

there. We can see over a number of

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years our progression from the

ambition to copy and emulate other

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solutions to leapfrog those and

become leaders. We seem that Rao and

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grow in Asia. It started to reflect

to me what silicon valley seem to

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feel like, a genuine interest in

creating something great. It is a

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simple food service system that

allows people to have much higher

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quality food, still quickly, and be

integrated with the way they work.

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One of the things that keep you in

design is that the feeling you get

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when you see something that started

out as a sketch to people being

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happy and enjoying what they are

doing. Bitcoin has set yet another

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record high, breaking through the

$50,000 barrier. It was another

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milestone for the currency which has

increased dramatically over the last

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year.

Timothy McDonald, last week it

was 10,000...

Now it is 14,000.

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Since talking it has broken.

Shocking! It is just incredible.

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This time last year it was $1000 and

since then it has broken through

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barrier after barrier to the point

we are just sick of writing about

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the... It is sounding like a broken

record. When a value increases that

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dramatically, you are a little bit

worried about what is over the next

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ridge. A lot of worry about whether

this could be a bubble but the thing

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is that nobody really knows and

people have a very hard time

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particular eating why it is worth

this much. A lot of people have a

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hard time defining what Bitcoin

actually is. Really, it could be a

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bubble, it could be anybody's guess.

We do not know what is going to

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happen to Bitcoin. Let's have a

quick look at the markets and

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currently

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