14/02/2018 Asia Business Report


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14/02/2018

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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than 30 counts of child

abuse involving 11 boys.

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Now on BBC News, all the latest

business news live from Singapore.

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Japan's economy keeps growing but is

it running out of steam? All the

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latest GDP numbers are up next. And

could your DNA be the key to finding

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your true love? A new matchmaking

app puts the idea to the test. Glad

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you could join us this exciting

addition of Asia Business Report.

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Japan's latest economic figures have

just been released. Its GDP grew by

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half a percent in the last three

months of 2017 compared to the same

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quarter a year earlier. The numbers

were a little softer than expected.

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It is the eighth straight quarter of

expansion for Japan's economy.

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Earlier, we were told why the

economy is building strength.

There

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are some seasonality, some

volatility but the big issue is, for

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the first time in 30 years, it's 30

years, you've got wages, jobs, the

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quality of jobs are improving so the

overall environment for consumption

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is now a positive one. While over

the last 30 years, it was a negative

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one. That's the key point that was

driving the steady expansion of

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Japan.

In the financial markets,

there is one word that is making

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investors shake in their boots right

now. Inflation. It is the benchmark

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which measures how quickly prices

for goods and services increase but

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investors think inflation is on the

rise and they expect several banks

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will raise the cost of borrowing to

cool down the economy. Basri's

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wildfires -- while Dwyer was caused

by expectations that a strong US

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economy would lead to more rate

rises. Later today, the US

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government releases its consumer

Price number. I asked Peter McGuire

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what he thinks the numbers will

show.

We are expecting to see a

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decline for core and CPI rates to

1.9 and 1.7 respectively, down from

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2.1 and 1.8. We are expecting to see

a downturn in those inflation

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numbers. It is a wait and see

approach.

If we don't see a downturn

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but arise, which is something market

analysts do not expect, could this

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bring back market mayhem?

It

probably could, there is no doubting

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that. The market is very centred on

a fall in those particular inflation

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numbers. If we do see a rise,

volatility will pick up and we could

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see a return to what we experienced

last week. That will be naturally

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across all markets, taking on board

Asia.

But if the number is what you

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expect to be lower than the previous

month, could this calm down the

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markets and clear the way for more

gains.

Certainly the other side as

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far as what the Fed is prepared to

do. The market is tipping we will

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seek to rate rises or possibly three

and it's all stemming from inflation

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numbers.

You expect two, three or

four rate hikes this year, from the

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US Central Bank, when will be the

first one?

The next 60 days,

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something by April. You may see it

sooner. Just depends what they are

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prepared to do as far as voting for

it. Ratcheting it up relatively

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quickly. And then that mindset, as

far as do they introduce that bird

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rate rise later in the year?

Shifting our attention to India and

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Citi has banned the use of its card

-- cards to purchase Bitcoin and

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other crypto currencies. What is the

current standard India regarding

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these crypto currencies?

It is a

bitter irony on Valentine's Day

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because there is no love lost

between the Indian government and

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the cryptocurrency. The Indian

government has earlier linked

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cryptocurrency trade in India to a

'Ponzi' scheme. Two recent Budget by

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the Finance Minister, there was

speculation that could be a complete

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ban on cryptocurrency in India but

now, the government says it is

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monitoring any tax evasion on

cryptocurrency. They are not to be

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used as legal tender, like money to

buy goods in India. There are 11

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cryptocurrency exchanges in India.

Bitcoin being the most popular.

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After Citibank's global move to not

allow users to use debit and credit

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cards to purchase cryptocurrency,

the Indian branch is doing the same.

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It will be a setback but these

exchanges in India. Devina Gupta in

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India.

The US is set to become the

country piles --a world's leading

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oil producer at some point next

year. That is according to the

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International energy agency which

says that cracking bird could lead

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to the world's biggest economy

overtaking Saudi Arabia and Russia.

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Just a few years ago, when the oil

price started to slump, because

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global demand weakened, like the

American trucking industry which is

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based mainly in Texas and New

Mexico, it was on its last legs

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because it could no longer be

profitable. What's happened since is

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they have gotten more efficient.

Lots of cost-cutting measures and

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loads of tracking sites have come

back on line and this has led to a

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huge glut in supply. It's quite good

news for America. We saw a shipment

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of oil from the US to the UAE and

the Middle East. The topsy-turvy

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energy market. What's not good is

the supply is higher than the

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demand. There are still quite of

pressure on energy prices and oil

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prices.

In other business news

making headlines, Sher and the

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NASDAQ listed Chinese search engine

Baidu surging. The firm reported a

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29% jump in quarterly revenues. $656

million in profits. Valentine's Day

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is here but thanks to the

smartphone, keep it now has another

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is bring to its bow. The on line

dating industry is worth $500

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million every year and on line users

are now spoilt for choice. There are

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apps which try to find your

potential partner, everything from

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your music taste to your DNA. The

BBC's Tom Davies hit the streets to

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find out more.

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Tender. Tender. I've been known to

tender a bit. Used tender but I

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didn't like it. We've all be on

tender, of course with all got the

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Apple.

Too tall, too sporty, to

gain. Many of the traditional dating

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websites try to baggy that special

someone by asking you about your

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personal preferences. And while

experts agree on line dating is good

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for over an -- widening the pool, is

this the solution to finding Mr or

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Mrs Wright?

The research is now

clear that using individual level

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information for personality, values

and preferences, to try to predict

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who will be compatible in the

future, is a losing game. You might

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just set up people who are similar

to them. It is a reasonable

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hypothesis but no one has the able

to find consistent evidence that

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idea.

So if data is not helping us

to find out perfect partner, howls

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can be used to cut down soulmates?

One firm has the answer and they

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think love is all about chemistry.

I

am one of the cofounders and Chief

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Executive officer.

They're more is

dating app that matches people based

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on genetics. We send you a genetic

get. We extract the portion of the

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DNA. You are able to see who you

would be attracted to.

DNA and

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pheromones are what love at first

sight is all about.

Many of us

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singletons are pinning our host --

our hopes on love at first swipe

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rather than love at first sight and

although there are more and more

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apps available, now the problem may

be there is just too much to choose

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from.

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There is not a lot of love in the

Asia-Pacific markets:

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investors are watching the date

which could clear the way for more

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games but the US markets gaining

overnight with the Dow Jones up by

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39 points.

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