0:00:03 > 0:00:06been told to wash their belongings after the discovery of a nerve agent
0:00:06 > 0:00:09used to poison a former Russian spy and his daughter.
0:00:09 > 0:00:16Now on BBC News all the latest business news live from Singapore.
0:00:16 > 0:00:23Closer relations between French and Indian leaders. President Macron
0:00:23 > 0:00:30says his country is desire is to be one of the new's best partners in
0:00:30 > 0:00:35Europe. With steel tariffs just days away, which US businesses will be
0:00:35 > 0:00:47affected by higher costs? Good morning, Asia. Hello, world. It's
0:00:47 > 0:00:53Monday, the start of a brand-new trading week. We start off with
0:00:53 > 0:00:59French President Macron in India and security and energy relations a
0:00:59 > 0:01:06higher on the agenda. Let's get the latest. 14 agreements have already
0:01:06 > 0:01:10been signed between the two countries. Tell us more.That's
0:01:10 > 0:01:20right. Prime Minister Modi and French President Macron have signed
0:01:20 > 0:01:25$16 billion worth of contracts and that was just on the first day of
0:01:25 > 0:01:30his visit. They include any aviation deals, industrial gas deals, water,
0:01:30 > 0:01:36system deals and a plan to build what will be the largest nuclear
0:01:36 > 0:01:41power plant in the world. They also agreed to strengthen ties on defence
0:01:41 > 0:01:45cooperation and security. Prime Minister Modi thanked President
0:01:45 > 0:01:52Macron for investing in his flagship making India programme which seeks
0:01:52 > 0:01:58to boost local manufacturing and President Macron said the countries
0:01:58 > 0:02:00would work together on maritime supervision in the Pacific and
0:02:00 > 0:02:06Indian oceans.But President Macron's visit to India hasn't come
0:02:06 > 0:02:13without controversy. What has happened?That really happened after
0:02:13 > 0:02:18President Macron made some comments about France being the gateway to
0:02:18 > 0:02:24Europe for Indian students. The UK's Foreign Secretary Boris Johnson
0:02:24 > 0:02:31tweeted in reply, saying the UK also invites around 14,000 students to
0:02:31 > 0:02:39the UK every year so that kind of shows the battle over Brexit and the
0:02:39 > 0:02:46UK's Place after Brexit but there is no doubt India and France have
0:02:46 > 0:02:51strong partnerships, shown by the kind of deals that were showing here
0:02:51 > 0:03:00over the weekend including a really big aviation deal for Indian carrier
0:03:00 > 0:03:05Spice Jet, its biggest expansion plans in recent history.Thank you
0:03:05 > 0:03:09for that update on the visit of President Macron do I. Staying with
0:03:09 > 0:03:13India, some of the country's biggest airlines announced major expansion
0:03:13 > 0:03:24plans. Despite the bright prospects, carriers face one major challenge.
0:03:24 > 0:03:33We travelled to an airline show in Hyderabad to find out more.
0:03:33 > 0:03:37I's aviation industry is flying high. Last night -- last year,
0:03:37 > 0:03:43airlines flew nearly 120 million domestic passion that passengers.
0:03:43 > 0:03:50More than any other country in the world. 25, 20 6% applies are first
0:03:50 > 0:03:58timers. The market is exploding. We plan to get to 20 aircraft and in
0:03:58 > 0:04:03the next three, five years we plan to be I's second largest low-cost
0:04:03 > 0:04:12carrier. By 2025, India is expected to overtake the UK to become the
0:04:12 > 0:04:16third-largest air passenger market after China and the United States
0:04:16 > 0:04:20but there is one major roadblock to the rapid growth. The biggest
0:04:20 > 0:04:24airports in Mumbai and Delhi are struggling to cope with the growing
0:04:24 > 0:04:27traffic and while the government is trying to build new airports and
0:04:27 > 0:04:33expand existing ones, that is taking time.The first of course is the
0:04:33 > 0:04:37land. It is typical in today's day and age to build large-scale
0:04:37 > 0:04:53airport. We need to find land close to major centres.The site got
0:04:53 > 0:05:06delayed the nearly a decade. This organisation was on display. This
0:05:06 > 0:05:10runway would normally be packed with the latest international commercial
0:05:10 > 0:05:15aircraft models but this year, there are only private Jets and small
0:05:15 > 0:05:25aircraft with a maximum capacity of 20 seats. Airlines say they are not
0:05:25 > 0:05:31able to fly their fractured aircraft. Airlines put it down to
0:05:31 > 0:05:38bad organisation. You will upgrading infrastructure quickly will be
0:05:38 > 0:05:41essential.
0:05:41 > 0:05:46In less than two weeks, the US tariffs on steel and aluminium get
0:05:46 > 0:05:53imports will be taking effect. About a third of it is important from
0:05:53 > 0:06:04countries like Canada, South Korea. The commodities are important in raw
0:06:04 > 0:06:11materials made in the US but also in many other products made in America.
0:06:11 > 0:06:14I asked Paul Bartholomew from Standard and Poor's what types of
0:06:14 > 0:06:22steel are affected by this move. You can put them into two main
0:06:22 > 0:06:27categories.There is flat steel. That is the steel that is used in
0:06:27 > 0:06:32manufacturing, anything from going into cars to high-end engineering
0:06:32 > 0:06:39type products and we have the long products, those bits of metal that
0:06:39 > 0:06:49we see, then there is a third, slightly smaller one.Which
0:06:49 > 0:06:54particular type of steel will be affected due to the higher tariffs?
0:06:54 > 0:07:01The big concern to the age and region is the flat steel. That is
0:07:01 > 0:07:07what Japan exports of South Korean exports. South Korea makes up 10% of
0:07:07 > 0:07:19US imports. It suddenly knocking up against Chinese steel -- Chinese
0:07:19 > 0:07:27steel. That can have quite a big impact. Suddenly, there is all this
0:07:27 > 0:07:43steel sloshing around.It's made a big move into China. After a Chinese
0:07:43 > 0:07:58conglomerate took over the company. It is an established British band.
0:07:58 > 0:08:10We have to reinvent our brand in the Asian consumer. It's a very
0:08:10 > 0:08:21important feature. It represents the authentic product.
0:08:25 > 0:08:35It is not a designer label. As a result, our marketing is very
0:08:35 > 0:08:42important. Bespoke dressing is all about dressing for the event and
0:08:42 > 0:09:02feeling fantastic. If you're running a media campaign, digital media is
0:09:02 > 0:09:07all about the constant evolution. A constant flow of images and
0:09:07 > 0:09:09information.
0:09:14 > 0:09:18This boat has been very successful in terms of the Asian market
0:09:18 > 0:09:28specifically. Authenticity counts for a lot.Before we go, let's have
0:09:28 > 0:09:37a look at the week ahead. It will be the focus of investors as they try
0:09:37 > 0:09:42to gauge how US interest rates will wise. The Central Bank unveiling
0:09:42 > 0:09:47minutes from its recent policy meeting. Also, we will find out if
0:09:47 > 0:09:52Chinese consumers are losing their urge to splurge. Towards the end of
0:09:52 > 0:09:59the week, the focus will be back on the US. Washington slapped duties on
0:09:59 > 0:10:03aluminium imports from China because they said that they were being sold
0:10:03 > 0:10:14below market prices in the US. All of this of course will have an
0:10:14 > 0:10:24impact on regional markets, the Nick Kay surging by 2.2%. The All
0:10:24 > 0:10:31Ordinaries Index rising by 0.7%.