21/02/2018 Asia Business Report


21/02/2018

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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against some of its

workers in Haiti.

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Now on BBC News, all the latest

business news live from Singapore.

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His team mix business with politics?

Donald Trump Jr visit India. -- is

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he mixing. A look at how Chinese

Internet giant Alibaba has turned a

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little-known Chinese city into a

start-up capital. It is Wednesday,

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everyone. Good morning, Asia, hello,

world. Magic a drone is this midweek

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edition of Asia Business Report. I

am Rico Hizon. We start off with the

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US President's Summit, Donald Trump

Jr, he will be talking with buyers

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of Trump branded apartments. Could

XA he is cashing in on the

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President's name but Mr Trump says

he has been building relationships

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in India for years. We managed to

catch as he was leaving Trump Tower.

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On his first day in India, Donald

Trump Jr was not giving away

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anything. Sir, one should be meeting

the Prime Minister as well? A

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potential meeting with India's Prime

Minister has stirred controversy.

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Donald Trump Jr will be addressing

the global business Summit on Friday

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alongside Narendra Modi, but he

insists she will only be conducting

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business, not politics in India. --

he. And insist developments like

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this one of the only reason he is in

India. Just a few miles outside

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Delhi, these ultraluxury apartments

are becoming the fastest selling for

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the Trump brand in India. Indian

developers have said the value of

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Trump brand of buildings has risen

by as much as 30% since Mr Trump

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became president.

They also control

the principal design, the

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architecture, the specifications.

They are fairly involved in the

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product end to end, not only while

we're building the product but also

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while we over services.

Donald Trump

Jr has partnered with local builders

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who managed construction. In return

for using the Trump name, the

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President's family business receives

a hefty royalty fee. Buyers of the

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brand-new project in Delhi are being

offered the opportunity to have a

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dinner and conversation Donald Trump

Jr. Critics are saying that

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campaigns like this one in the

newspaper or on ethics atrocity. But

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Donald Trump Jr says his company is

simply seeing the results of his

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effort to cultivate relationships in

India for nearly a decade, something

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he plans to continue on this visit

too. Canadian Prime Minister Justin

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Trudeau is in India for his first

official visit and is pushing for

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more trade between the two countries

and head of his meeting with the

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Prime Minister, Justin Trudeau told

a gathering in Mumbai that his

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delegation has struck deals for

investments in Canada. By Indian

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technology giants. Canada's Prime

Minister has been in India since

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Saturday when he spent the first few

days going to sites like the Taj

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Mahal and India's top business

school, all part of an effort to

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underline the cultural connect

between India and Canada. At on

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Tuesday, he shifted his focus to

trade. An area that has been

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neglected, this despite the huge

presence of influential Indians and

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Canada. Bilateral trade between the

two countries stands at just $8

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billion, Justin Trudeau met a wide

range of Indian business leaders on

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Tuesday in Mumbai and he managed to

strikes and deals.

There are huge

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compatibility is and compliments

between India and Canada, so much so

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that coming out of meetings this

morning and a few other meetings

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that we have had, we are able to

announce today over 5000 new jobs in

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Canada and over $1 billion of

investment in Canada. We also talked

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an awful lot about Canadian

companies investing in India, in

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partnerships here, in our pension

funds and investors being extremely

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active in all the amazing thing is

going on here in India.

Justin

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Trudeau will meet India's Prime

Minister Narendra Modi on Friday for

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formal talks. India is hoping to

sign a deal with Canada's pension

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fund to invest in India's smart

cities programme, which is working

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towards modernising the country's

infrastructure. Canada, on the other

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hand, will raise the issue of India

raising hefty import duties on

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lentils and should these. These

goods account for one third of

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Canada's overall exports to India

and that is why this is an important

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market for Canadian farmers. India

says that falling prices of both

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crops internationally and cheap

imports are hurting Indian farmers.

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The other Indian farmers who are

expected to feature -- the other

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issue is expected to feature are

security, energy, and military

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cooperation. Walmart led the Dow

Jones industrial average lower

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overnight. The company's shares

falling more than 10%. Earlier, a

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ask a business reporter why

Walmart's shares took a hit.

Walmart

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has taken a real shellacking today

on Wall Street, it is down 10% at

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the close and the real concern here

is about the online sales. Walmart,

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we all know is one of the biggest

perks and mortar retailers in the

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world but it is engaged in a

bruising battle with And is on, it

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really needs to compete with Is on,

if it is to survive as a retail

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giant and so, analysts and investors

closely watch the growth numbers in

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online sales, even though online

sales only account for about 4% of

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all my's overall revenue. -- Amazon.

-- of their overall revenue.

China's

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e-commerce giant Alibaba calls the

Chinese city of Hangzou home. The

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city has gained growing confidence

as a global technology hub. As part

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of our special series, we look at

the country's ambition to lead the

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world and artificial intelligence

technology and the start-up

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ecosystem that surrounds Alibaba.

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Its base is a third for offers in a

grotty block in Hangzou, a city that

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is now synonymous with China's tech

industry. A city we cannot escape

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talk like this.

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Hangzhou's success is down to

history, it is at the southern tip

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of China's grand Canal. It is a

place that has long looked out

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towards what is on the horizon. In

the 1970s, when China opened up the

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trade, this was one of the first

places to open up. A company that

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has been here for almost 20 years, a

company that has changed China, a

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company that is everywhere although

you can't see it, and at the helm of

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that company is a man who can well,

almost walk on water. His name is

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Jack Ma and he founded Alibaba, an

online retail giant that now spreads

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across all of China. It has helped

create a multi- billion-dollar

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ecosystem centred in Hangzhou.

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And that was Hangzhou, one of Asia's

Silicon valleys. In other news,

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straighter's Wesfarmers posting a

77% plunge in profitability after

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earnings dropped sharply at its

Coles supermarket chain and it

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looked a $1 billion write-down

against its British hardware

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business. The brick and mortar it

companies having difficulty over the

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last year. -- companies. The All

Ordinaries index is down by a point,

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this is after the downbeat mood on

Wall Street overnight. Thank you so

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much for investing your time with

us.

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