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Now on BBC News, all the latest
business news live from Singapore. | 0:00:00 | 0:00:03 | |
The magic 7%. Will India's latest
growth figures deliver? We will look | 0:00:14 | 0:00:20 | |
at factors affecting India's
economic potential. Trade deals you | 0:00:20 | 0:00:25 | |
can sink your teeth into. I know
about the possible impact of the | 0:00:25 | 0:00:30 | |
changes to the American free trade
agreement. -- North American Free | 0:00:30 | 0:00:34 | |
Trade Agreement. Good morning, a
ship. Hello, world. It's a Monday, | 0:00:34 | 0:00:42 | |
the start of a new trading week.
Glad you could join us for another | 0:00:42 | 0:00:47 | |
exciting edition of Asia Business
Report. I'm Rico Hizon. We take a | 0:00:47 | 0:00:52 | |
look at the markets and it's going
to be an busy week when it comes to | 0:00:52 | 0:00:57 | |
economic development in Asia. Here
is what we are tracking. We start | 0:00:57 | 0:01:01 | |
off with India releasing its latest
growth numbers for the three months | 0:01:01 | 0:01:06 | |
until December. Also on Monday, the
latest indicator on China's | 0:01:06 | 0:01:12 | |
manufacturing activity. And Jerome
Powell makes his first major | 0:01:12 | 0:01:20 | |
appearance as Fed chief in front of
Congress. The market only looks at | 0:01:20 | 0:01:27 | |
that possibility although the Ranger
now it's about a 6.5 - 7% GDP | 0:01:27 | 0:01:34 | |
numbers. Generally, it's improving
from October to December period. | 0:01:34 | 0:01:42 | |
Rate remains to be seen the. Do you
think the Chinese forecast is for it | 0:01:42 | 0:01:51 | |
to slow down? Is it likely to
reflect to manufacturing activity | 0:01:51 | 0:01:57 | |
this month? This could really be the
case. There are some Chinese | 0:01:57 | 0:02:03 | |
distortions but I think the numbers
the macro expansion territory, the | 0:02:03 | 0:02:10 | |
market should not be too. The
government is focusing on more | 0:02:10 | 0:02:14 | |
sustainable growth moving forward,
so that current number should not | 0:02:14 | 0:02:17 | |
matter too much. For manufacturing.
All eyes will definitely be on new | 0:02:17 | 0:02:27 | |
Fed chief Jerome Powell this week.
Will he basically say what was | 0:02:27 | 0:02:30 | |
already said in the minutes of the
previous month? Higher inflation and | 0:02:30 | 0:02:38 | |
potentially three or four rate hikes
in 2018? I think he is one who will | 0:02:38 | 0:02:47 | |
champion continuity, in this case we
focused on inflation. In upbeat | 0:02:47 | 0:02:54 | |
sentiment towards growth. I don't
think there's going to be too much | 0:02:54 | 0:02:57 | |
of a surprise to the market. The
respect of the volatility we are | 0:02:57 | 0:03:07 | |
seeing... It will be something to
look at. India's reportedly looking | 0:03:07 | 0:03:24 | |
for government backing for a project
in Wales. Let's cross over to Delhi. | 0:03:24 | 0:03:30 | |
Do you think this will materialise?
Thank you. We are looking at about | 0:03:30 | 0:03:37 | |
4000 jobs in at the moment. Even as
Tata steel is going ahead with the | 0:03:37 | 0:03:46 | |
merger. Looking at Tata steel
seeking £60 million from the UK | 0:03:46 | 0:03:54 | |
Government, that's the UK tax payers
money. This, they feel, is essential | 0:03:54 | 0:03:59 | |
to keep operations up to speed. And
isn't it addition -- is in addition | 0:03:59 | 0:04:08 | |
to a £30 million that was also
invested by Tata steel last year. | 0:04:08 | 0:04:12 | |
Port Talbot has been at the centre
of negotiation with the UK unions | 0:04:12 | 0:04:16 | |
for Tata steel and this, when it
announced his plans for its merger, | 0:04:16 | 0:04:24 | |
they were worried about the risk of
job losses. That time, it was agreed | 0:04:24 | 0:04:30 | |
that about $1 billion would be
invested, given the market | 0:04:30 | 0:04:35 | |
conditions. And now it seems that
Tata steel wants to raise this money | 0:04:35 | 0:04:41 | |
from the UK Government according to
reports. Official statement is yet | 0:04:41 | 0:04:46 | |
to be made. Thank you so much. Our
business reporter. In | 0:04:46 | 0:04:50 | |
telecommunications, if you want to
see the future shape of mobile | 0:04:50 | 0:04:55 | |
phones, Barcelona is the place to be
this week. The industry's biggest | 0:04:55 | 0:04:59 | |
annual shindig, the mobile Congress
gets underway today. And some of the | 0:04:59 | 0:05:07 | |
newest models have already been
unraveled. Take a look at the | 0:05:07 | 0:05:11 | |
throngs of people going through the
crowd to see the latest mobile | 0:05:11 | 0:05:13 | |
phones. Art technology correspondent
reports that it's getting ever | 0:05:13 | 0:05:20 | |
harder to make new phones stand out
of the crowd. The fastest moving | 0:05:20 | 0:05:25 | |
industry on earth is in Barcelona
this week. But lately, the | 0:05:25 | 0:05:29 | |
mobilephone business has hit a speed
bump. Smartphone sales dipped at the | 0:05:29 | 0:05:33 | |
end of last year and the phone
companies know they need to get | 0:05:33 | 0:05:37 | |
people new reasons to upgrade. I
want access to the Internet wherever | 0:05:37 | 0:05:40 | |
I am, I want instant access to
everything. If my phone slows down | 0:05:40 | 0:05:47 | |
to the point where it's not
processing the way I need it to, | 0:05:47 | 0:05:51 | |
that's where I go get anyone. I feel
like it would have to replicate the | 0:05:51 | 0:05:55 | |
iPhone a lot because that's the
standard. It would have to almost | 0:05:55 | 0:05:58 | |
exceed expectations of the iPhone.
Don't tell that to Samsung which | 0:05:58 | 0:06:02 | |
believes its galaxy smartphone set
the standard. The industry's jackpot | 0:06:02 | 0:06:05 | |
the spectacular -- spud on a
spectacular show to release the | 0:06:05 | 0:06:12 | |
latest version, which seems very
similar to last your's model. | 0:06:12 | 0:06:16 | |
Getting a high-end smartphone to
stand up from the crowd is getting | 0:06:16 | 0:06:19 | |
ever harder but Samsung believes
slow motion could be the answer. The | 0:06:19 | 0:06:23 | |
camera on the phone can make
anything happen about 30 times | 0:06:23 | 0:06:29 | |
slower. Another gimmick, you can
create an animated emoji that looks | 0:06:29 | 0:06:33 | |
just like you. It is this me,
really? Well, sort of. Samsung has | 0:06:33 | 0:06:39 | |
decided it is the camera and
everything it can do that is now | 0:06:39 | 0:06:42 | |
keep. We know annually this over a
Trojan photos shared globally. Today | 0:06:42 | 0:06:47 | |
on a daily basis, people share 5
billion um oh geez -- | 0:06:47 | 0:06:53 | |
... It's not just for taking photos
any more. Nokia continues. This | 0:06:56 | 0:07:05 | |
time, another retro phone, the
so-called banana phone. It seems | 0:07:05 | 0:07:11 | |
every company is struggling to look
different. Albeit devices, pretty | 0:07:11 | 0:07:16 | |
much black rectangles. Consumers
ultimately are going to gravitate | 0:07:16 | 0:07:26 | |
towards big brands, the best deals
and I think you really going to | 0:07:26 | 0:07:29 | |
nothing about replacing the funds as
quickly as they used to. Mobile | 0:07:29 | 0:07:33 | |
phones are not sophisticated
supercomputers offer so much more | 0:07:33 | 0:07:35 | |
than just calls and text. Impressing
jaded consumers gets ever harder. | 0:07:35 | 0:07:47 | |
Negotiators from the United States,
Canada and Mexico will be spending | 0:07:47 | 0:07:50 | |
this week reworking the North
American Free Trade Agreement. US | 0:07:50 | 0:07:55 | |
President Donald Trump has
threatened to walk away from the | 0:07:55 | 0:07:58 | |
Nafta altogether if it is not
changed in America's favour. As Joe | 0:07:58 | 0:08:02 | |
Miller found out in his locker
diner, winding back Nafta could be | 0:08:02 | 0:08:06 | |
very messy indeed. -- in his local
diner. Donald Trump talks a lot | 0:08:06 | 0:08:18 | |
about trade deals. In case you
missed it, he's not really a fan. | 0:08:18 | 0:08:23 | |
Every trade deal we have is
horrible. He claims they take away | 0:08:23 | 0:08:29 | |
from American jobs and really hurt
American producers and farmers. But | 0:08:29 | 0:08:33 | |
one thing we know the president is
definitely a big fan of is the | 0:08:33 | 0:08:36 | |
all-American burger. But the thing
is, this burger is really only made | 0:08:36 | 0:08:41 | |
possible thanks to Nafta or the
North American Free Trade Agreement. | 0:08:41 | 0:08:46 | |
And that's the very agreement that
the Trump administration is | 0:08:46 | 0:08:49 | |
currently in the process of
renegotiating. Just to give you an | 0:08:49 | 0:08:53 | |
example of how complex that is, take
the beef from this burger. American | 0:08:53 | 0:08:58 | |
farmers grow corn. They send that
corn into Mexico, to Canada. | 0:08:58 | 0:09:03 | |
Ranchers there use that to feed the
cattle him about 2 million cows to | 0:09:03 | 0:09:08 | |
be processed. The bun is almost
certainly made with Canadian wheat. | 0:09:08 | 0:09:19 | |
You've got your tomatoes, your
lettuce, they are almost certainly | 0:09:19 | 0:09:22 | |
from Mexico. And if you like
mushrooms on your burger, which I | 0:09:22 | 0:09:30 | |
quite frankly think is a crime
commitment again depending on the | 0:09:30 | 0:09:34 | |
variety could come from any of the
three countries. And no burger is | 0:09:34 | 0:09:38 | |
complete without french fries, which
believe it or not, probably come | 0:09:38 | 0:09:42 | |
from Canada because Canada is
actually one of the world's largest | 0:09:42 | 0:09:45 | |
exporters of frozen french fries.
Renegotiating Nafta does not mean | 0:09:45 | 0:09:53 | |
this burger ceases to exist but what
he might do is take a complex dish | 0:09:53 | 0:09:57 | |
and make it even mark-up located.
For now, I'm quite hungry. -- make | 0:09:57 | 0:10:04 | |
it even more complicated. Me too.
I'm really getting hungry. Ready for | 0:10:04 | 0:10:11 | |
my breakfast. Let's have a quick
look right now at the markets. | 0:10:11 | 0:10:14 | |
Currently all Asian entities are in
positive territory. This is after US | 0:10:14 | 0:10:25 | |
equities rose on Friday. Thank you
so much for investing time with us. | 0:10:25 | 0:10:31 |