0:00:14 > 0:00:15This is BBC News.
0:00:15 > 0:00:19Our top story: New York's mayor says a bomb explosion next to the city's
0:00:19 > 0:00:21main bus station was an attempted, terrorist attack.
0:00:21 > 0:00:24The suspected attacker is currently in police custody and has been named
0:00:24 > 0:00:27as 27-year-old Akayed Ullah who moved to the US from Bangladesh.
0:00:27 > 0:00:31He suffered burns from the crude pipe-bomb strapped to his body.
0:00:31 > 0:00:33Three women who accused President Trump of sexual
0:00:34 > 0:00:36misconduct, alleging he groped, kissed, and harassed them,
0:00:37 > 0:00:39have demanded a congressional inquiry.
0:00:39 > 0:00:42The White House says their claims are false.
0:00:42 > 0:00:47And this video is trending on bbc.com.
0:00:47 > 0:00:49The fairytale romance, The Shape of Water, leads
0:00:49 > 0:00:52nominations for the 2018 Golden Globe awards.
0:00:52 > 0:00:58It's picked up seven nominations.
0:00:58 > 0:01:02It could set the stage for the winners at the Oscars in March. More
0:01:02 > 0:01:09to come on BBC News.
0:01:09 > 0:01:11And the top story here in the UK:
0:01:11 > 0:01:13Detectives are questioning five people in connection
0:01:13 > 0:01:17with the suspected murder of three children in a fire at a house
0:01:17 > 0:01:23in Greater Manchester.
0:01:23 > 0:01:28More to come. First we catch up with the business news.
0:01:36 > 0:01:40The US central bank starts its last meeting for the year with economists
0:01:40 > 0:01:47widely expecting a rate rise. And what has gone wrong. We find out why
0:01:47 > 0:01:59are the wheels have come off like sharing services in Australia. Good
0:01:59 > 0:02:03morning, eight, hello, world. It is a Tuesday. Glad you could join us
0:02:03 > 0:02:08for Asia Business Report. I am Rico Hizon. We start with US central bank
0:02:08 > 0:02:11and the Federal reserve starts its first policy -- last policy meeting
0:02:11 > 0:02:16for year. Economists have been anticipating a rate hike for months
0:02:16 > 0:02:22now. Let us put this into context. Nine years ago, 2008, the cost of
0:02:22 > 0:02:27borrowing was cut to effectively zero in response to the global
0:02:27 > 0:02:30financial turmoil. It remained there for seven years until two years ago
0:02:30 > 0:02:35when it was raised by a quarter of a point. Since then we have seen three
0:02:35 > 0:02:39rate rises as the US economy has recovered. Earlier I spoke to the
0:02:39 > 0:02:46age and chief economist, and asked if a rate hike is a done deal.I
0:02:46 > 0:02:50think it is almost a done deal that they will hike tomorrow. It is all
0:02:50 > 0:02:55is completely priced into the market. It will be a big surprise if
0:02:55 > 0:02:59they did not hike.What if they hold that, what would be the reason?It
0:02:59 > 0:03:03is hard to think of one. Their guidance has been so strong to
0:03:03 > 0:03:11suggest that they will hike in December. The data has been strong.
0:03:11 > 0:03:16It is hard to really think, at this point, why they would want to delay
0:03:16 > 0:03:20it a month. The reason to do it in this month is, in December, compared
0:03:20 > 0:03:31to January, December they have a new economic forecasts and Jenny Hill
0:03:31 > 0:03:38will have -- Yellen will have a statement.What will this have, in
0:03:38 > 0:03:49fact -- impact wise?So far Asia has largely been decoupling from this
0:03:49 > 0:03:53thread hiking cycle.Will this put pressure on Asia central banks?I
0:03:53 > 0:03:57think it is starting to put more pressure. We feel that as we get
0:03:57 > 0:04:00into next year we will see more central banks hiking. The next one
0:04:00 > 0:04:07we think to hike will be Malaysia's Central Bank, hiking in January.
0:04:07 > 0:04:22Much more important than this Fed rate hike will be the FOMC dots. At
0:04:22 > 0:04:26the moment they are forecasting three hikes. If they provides update
0:04:26 > 0:04:33dots, it might mean that FOMC will forecast four rate hikes. The market
0:04:33 > 0:04:40expects only two.If they are looking at three or four rate hikes
0:04:40 > 0:04:45in 2018, what impact could it have on the US economy and on Asia?The
0:04:45 > 0:04:50US economy is very strong. Now we get the fiscal expansion. This is
0:04:50 > 0:04:55really needed to stop the US economy overheating. It is good for the US
0:04:55 > 0:05:04economy to avoid too much froth and access. For Asia, I think this
0:05:04 > 0:05:08tightening of US monetary policy could put some pressure on Asian
0:05:08 > 0:05:13chorus -- currencies to weaken over time. Over the course of next you,
0:05:13 > 0:05:18it will put pressure on Asian central banks to start following the
0:05:18 > 0:05:22Fed.This year has seen many prominent cyber-attacks, everything
0:05:22 > 0:05:28from the breach of French President Macron's campaign e-mails, the theft
0:05:28 > 0:05:34of personal details from Equifax, could 2018 Osi new threats,
0:05:34 > 0:05:37especially as the Internet grows in cryptocurrencies like the Queen? I
0:05:37 > 0:05:44put it to Bryce Bowden from Fire ice.Criminals always fire that
0:05:44 > 0:05:50might follow the money. We have seen bitcoins skyrocketing. Criminals are
0:05:50 > 0:05:55starting to focus, turned their attention to dealing the point --
0:05:55 > 0:06:02Bitcoin from the currency exchanges. Everyone would say this before the
0:06:02 > 0:06:05cryptocurrency became popular and we saw some countries starting to
0:06:05 > 0:06:10regulate its trading, even in Jamie Dimon from JPMorgan said in
0:06:10 > 0:06:15September it was a fraud. Now is saying that only if controlled and
0:06:15 > 0:06:20properly regulated that we could see more support for bitcoin.There is a
0:06:20 > 0:06:24lot of support today. The reality is, from eight criminal perspective,
0:06:24 > 0:06:28it creates a huge amount of opportunity. Not only can you create
0:06:28 > 0:06:32extortion a massive scale, you can create that in such a way that
0:06:32 > 0:06:39enables you to hide the traceability of the funds. That means the police
0:06:39 > 0:06:43and law enforcement organisations really struggle.Is already a
0:06:43 > 0:06:48problem you see in terms of trading the cryptocurrencies and the
0:06:48 > 0:06:54Bitcoins? Are we seeing a cyber security issues?The reality is the
0:06:54 > 0:06:57financial organisations that are providing those exchanges are not
0:06:57 > 0:07:03yet at the level of security and liquidity and accountability with
0:07:03 > 0:07:07the traditional organisations. It is just data after all. The safeguards
0:07:07 > 0:07:11are not as well designed and built as we seek in the traditional
0:07:11 > 0:07:15markets. Yes, there is a lot of risk there. I think that will come out
0:07:15 > 0:07:21over the next few months.Like sharing services have done pretty
0:07:21 > 0:07:25well in countries like China and Singapore. But in Australia it is
0:07:25 > 0:07:30another story. They are facing complaints about bicycles on the
0:07:30 > 0:07:34street and piling up on the beaches. Will Australia's ever embrace the
0:07:34 > 0:07:41system? Let us find out. -- Australians.
0:07:56 > 0:08:01They are just lying down randomly all over the place.I think it is a
0:08:01 > 0:08:05good idea. I do not know if it will work. People have their old bikes
0:08:05 > 0:08:11that they write.People are trolling the system.
0:08:29 > 0:08:33They are parked where ever they are left. Often pushed over on the side
0:08:33 > 0:08:36of the row, in the gutter. They are a major issue, they are
0:08:36 > 0:08:40uncontrolled, they need to operate in a better way.
0:08:56 > 0:09:00Based on experience from other countries, it would normally take 6-
0:09:00 > 0:09:0412 months for people to get used to it or to get an understanding of
0:09:04 > 0:09:08that and enjoy the service. You get the service itself, after all. After
0:09:08 > 0:09:12that it is convenient for people, it is healthier, green. A lot of people
0:09:12 > 0:09:15don't understand.
0:09:24 > 0:09:28Here in Singapore, we are starting to share not just bicycles, but also
0:09:28 > 0:09:35electric cars. There is a service that 80 electric cars and 100
0:09:35 > 0:09:41charging points across the island this afternoon. We found out more
0:09:41 > 0:09:45about these electric car vehicles. What do they show?That is right. We
0:09:45 > 0:09:49were on the side of a fairly quiet street in Singapore were two of
0:09:49 > 0:09:53these cars parked on the side of the street. They were being charged. But
0:09:53 > 0:09:57they looked kind of lonely. The did not look like much if you look at
0:09:57 > 0:10:01the footage.No-one tried to drive them?No, they are technically open
0:10:01 > 0:10:06later today. This firm, BlueSG, they have ambitious plans. A fleet of 80
0:10:06 > 0:10:13cars now. They plan to expand to about 1000 cars by 2020. From about
0:10:13 > 0:10:1730 charging stations around the island, they plan to expand that
0:10:17 > 0:10:22number. That will put Singapore behind Paris in terms of having the
0:10:22 > 0:10:26largest electric car sharing scheme in the world. I talked to be firm
0:10:26 > 0:10:30and they said they were doing this because they thought Singapore was a
0:10:30 > 0:10:33good place to start in Asia, it has great infrastructure. And we know
0:10:33 > 0:10:39that the price of private cars, we have them, they are exorbitant. Your
0:10:39 > 0:10:43regular sedan costs four times more here than it does in the US. They
0:10:43 > 0:10:48think all of that will make it attractive, an attractive
0:10:48 > 0:10:50proposition for Singaporeans. Singapore is acting as a microcosm
0:10:50 > 0:10:55to the rest of the world. There is a real transformation happening in the
0:10:55 > 0:10:59transportation industry. You just saw it in that bike sharing report.
0:10:59 > 0:11:06You have car riding apps like Uber. This move away from the classic
0:11:06 > 0:11:10fossil fuels cars, many people have said they will stop selling those
0:11:10 > 0:11:14cars, China, Britain, France, Norway, and Aggar Singapore as well.
0:11:14 > 0:11:19Will you try to drive one? I am going to try this weekend. Thank you
0:11:19 > 0:11:24so much. My colleague on the electric car vehicle market in
0:11:24 > 0:11:30Singapore. Before we go, let us look at the market and Asian stocks.
0:11:30 > 0:11:34Could be moving sideways. As you can see on the screens. For the Hang
0:11:34 > 0:11:39Seng and the Australian market, this is after Wall Street and slightly
0:11:39 > 0:11:43higher as investors shrugged off an explosion in Times Square that
0:11:43 > 0:11:48resulted in a handful of injuries. With that we end this addition of
0:11:48 > 0:11:51Asia Business Report. Thank you so much are investing