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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I'm Kasia Madera with BBC News.
Our top story: There's been
an historic announcement
about North Korea
at the White House.
President Trump has agreed to meet
the North Korean leader,
The White House confirmed
the meeting would happen at a time
and place yet to be determined.
The head of a South Korean
delegation that held talks with both
leaders this week said the meeting
would happen by May.
The South Korean envoy praised
Mr Trump's uncompromising stance
for adding to the pressure
on North Korea.
North Korea has agreed also agreed
to halt nuclear and missile tests.
The White House said the Trump
administration looked forward
to the denuclearisation
of North Korea -
but in the meantime,
all sanctions and maximum pressure
must remain on Pyongyang.
The President said he agreed to the
meeting because he is the ultimate
decision-makers in his country.
And the top story here in the UK:
A jury at the Old Bailey
has been shown a video,
of the moment a bomb partially
exploded on a tube train
in South West London last September.
Now on BBC News all the latest
business news live from Singapore.
President Donald Trump accepts North
Korea's offered to talk about
denuclearisation. Our tough
sanctions responsible for the change
of heart? And looking for the next
big flavour. For those with a sweet
tooth in Asia. Good morning, Asia.
Hello, world. Glad you could join us
on this Friday edition of Asia
Business Report. As you have been
hearing on BBC World News over the
past 90 minutes, Donald Trump has
agreed to meet with North Korean
leader Kim Jong-un in order to
defuse the nuclear. Let's get more
on this with Leisha Santorelli. The
potential meeting that might take
place. But still, no venue. Donald
Trump tweeted that currently in the
midst of coming up with a date and
time and place but initially, what
has been the reaction of the
financial markets in Asia?
news was coming through, Japan and
South Korea in stock markets were
opening and they are soaring. Japan
up by 2%, South Korea 1.5% and its
currency is doing well and this is
because of such a dramatic
breakthrough in the tensions on the
Korean Peninsula and obviously
investors are overjoyed. At the
prospect we could see a de-
nuclearised North Korea. We have to
treat this planned meeting with
caution. Previous attempts to
negotiate with North Korea on a
bilateral and multilateral level
have all failed. A lot of credit
must be given to Donald Trump and
his administration for putting a lot
of pressure on North Korea but that
we still need to be sceptical as to
whether we will see any deal
What about giving credit
to China who is a major political
and economic ally for North Korea?
We know that North Korea has been
hit by its toughest ever sanctions
on an international level -- level.
From the EU, Japan and South Korea.
Crucial to all is China. It accounts
the 90% of trade with North Korea.
The US and China have been having
their own intense relationship.
China has been in a position where
they need to be more accommodating
for North Korea. We are seeing a
crackdown on smuggling of goods into
North Korea. I think China must be
given some credit.
A knee-jerk on
the upside for markets in Asia.
Thank you for the update. My
business colleague Leisha
Santorelli. President Trump has
followed through on his campaign
promise and signed an order putting
steel and aluminium tariffs in
We want a lot of steel coming
into our country but we wanted to be
fair and we want our workers to be
protected and we want frankly our
companies to be protected. By
contrast, we will not place any new
tax on product made in the USA. So
there is no tax if a product is made
in the USA. You don't want to pay
tax? Bring it to the USA, there is
Some argue that these
tariffs are moving the US closer to
a trade war but there are exemptions
for Mexico and Canada, according to
Their 25% import tariffs on
steel, 10% import tariffs on
aluminium. Steel imports to the US
are not gigantic. 1.6% of imports.
0.2% of GDP. These are not huge
numbers when it comes to the overall
US economy but the key thing is
whether or not these tariffs set up
a trade war. We have seen threats of
retaliation by the European Union
who has threatened to tax everything
from American bourbon which is
manufactured in Mitch McConnell's
home State of Kentucky to American
motorcycles in Paul Ryan's State of
Wisconsin. We will see the European
Union is successful at getting rid
of these extensions. This is a White
House which likes to put on a show
so inviting nations to apply for
exemptions, give us your best offer
and we are more than willing to give
what we've given to Mexico and
The Republican Party, some
of President Trump's major allies,
and the Democrats are against these
trade tariffs. Is there a likelihood
they will even get into effect?
have 15 days for the tariffs to take
effect. We have seen strong
opposition from President Trump's
own party. There are over 100
members who said they were deeply
concerned, in the Republican Party,
and other Republicans who came out
and say they wanted to introduce new
legislation which could strip
President Trump of his powers to
institute tariffs such as these.
More to be seen.
More than a year
ago, Mr Trump through a wrench into
a free-trade arrangement once ranked
as the world's largest and now the
remaining 11 countries are going
ahead without America and signing a
revamped version. It's been
rebranded as comprehension --
copperhead seven progress of
agreement for the Trans-Pacific
Partnership or CP TPP. We sat down
with the Australian Trade Minister.
We know already there is interest
from other economies who would like
to join. The more that do, the
stronger the value of the
this become a reality, there are
some huge hurdles in each of the
countries to deal with Congress.
Ultimately that will be determined
by the domestic processors each
country must pursue but the
consensus view, the agreement coming
into effect by the end of this year
or early next year. We need six
countries to give effect to it. If
we do that, the agreement should
come into effect in the not too
Today has been a day
of mixed feelings with the US going
one day and Australia, and others
going the other way in terms of
trade. Is this the new way for
global trade now?
There is nothing
particularly new about the fact that
different countries adopt different
positions on trade. History has
taught us that has been the case
since time immemorial. We have seen
over the last 40 or 50 years in
particular the liberalised trade has
driven economic growth and jobs.
Countries that engage in trade a
more prosperous. Countries engaged
in trade have higher levels of
employment in the country is because
you can grow businesses, they are
more stable if they are engaged in
international trade is that is what
drives our approach.
Trade Minister there. Opening a
chewing gum lab in Singapore makes
as much sense as setting up a bar at
a meeting of teetotallers. The
government sees gum as a sticking
nuisance but global snack company
Mondelez saw an opportunity to sink
its teeth into a project.
Chewing gum and Singapore are an
unusual pairing but global snacks
company Mondelez says Singapore was
just the place rich new research
centre for gum and candy.
is a wonderful place because of its
diversity. Course the high quality
of talent and good R&D.
spun off from US food giant craft in
2012 and makes everything from
Cadbury chocolates and Oreo cookies
to denting chewing gum. It may seem
like child's play but developing
suites is supplied singly
complicated. Creating a jelly can
take months or even years in
research and development and make
sure it's just right and this is the
place where scientists are working
on new types of gum candy. I could
try one. I can't tell you what it
tastes like because still top
secret. Consistency and flavours are
a big part of the work here and that
can vary from market to market. Take
China, for example.
There is a
cultural heritage which is using
lower sweetness and less sugar and
our products see we will customise
this product is the China to have a
lower level of sweetness.
snacks are $41 billion is this in
Asia-Pacific and with an expanding
middle-class, the region is set to
become the fastest-growing market.
So localising flavours helps to win
over more palates. How are you
doing? Every little detail right
down to the packaging is important
as Mr Kelaher and his team are
hoping to win over hearts and
satisfy Asia's sweet tooth.
It has been a sweet day so far
operation stock markets. They are
surging. Japan, Hong Kong and