13/03/2018

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0:00:00 > 0:00:01A 17-year-old boy has been jailed for more than ten years

0:00:01 > 0:00:03for attacking six moped riders with acid last July.

0:00:03 > 0:00:05Derryck John admitted carrying out the attacks.

0:00:05 > 0:00:08Now on BBC News all the latest business news live from Singapore.

0:00:17 > 0:00:28Donald Trump blocks takeover bid of Qualcomm, citing national security

0:00:28 > 0:00:35concerns. The leaked report alleges North Korea is believed to be

0:00:35 > 0:00:43evading international sanctions using Asian companies. Hello,

0:00:43 > 0:00:48everyone. And good morning. Glad you could join us for this Tuesday

0:00:48 > 0:00:53edition of Asia Business Report. We kickoff the programme with breaking

0:00:53 > 0:00:57news and over the past hour, US President Trump has blocked a

0:00:57 > 0:01:02takeover bid of computer chips maker Qualcomm. He has cited national

0:01:02 > 0:01:10security concerns about the bid by its rival, Singapore-based Broadcom.

0:01:10 > 0:01:17Timothy McDonald joins us. What has Broadcom said about this Trump

0:01:17 > 0:01:24blocking.Broadcom has issued a brief statement that they are

0:01:24 > 0:01:28reviewing the order and they disagreed proposed acquisition of

0:01:28 > 0:01:33Qualcomm raises national security concerns. Qualcomm pointed back to

0:01:33 > 0:01:40the order itself and the order said there is credible evidence that

0:01:40 > 0:01:45leaves Donald Trump to believe this deal might take, the entity that

0:01:45 > 0:01:51would emerge might take action and threaten national security of the

0:01:51 > 0:01:56US. The concern seems to be around five G. The US sees itself in a

0:01:56 > 0:02:01dominant position right now and they think the tie-up between these two

0:02:01 > 0:02:09companies could end up with the US losing that position. Interestingly

0:02:09 > 0:02:13enough, Broadcom has been trying to get around these national security

0:02:13 > 0:02:21concerns by moving to the US. It appears the committee on foreign

0:02:21 > 0:02:28investment in the US didn't take to that too kindly and has suggested

0:02:28 > 0:02:32Donald Trump scupper the deal entirely. It seems like they want to

0:02:32 > 0:02:40scupper it, a rearranged deal would not be acceptable. This may be the

0:02:40 > 0:02:44end of it but we will see.Watch this space on what will happen next

0:02:44 > 0:02:52to Qualcomm. Timothy McDonald. One of Europe's biggest financial

0:02:52 > 0:02:56institutions has criticised the Trump administration for its tariffs

0:02:56 > 0:03:01on steel and aluminium imports. The head of the European investment bank

0:03:01 > 0:03:07said the move would trigger a trade war with far-reaching consequences.

0:03:07 > 0:03:14We are observing this not only with the threat of a trade war but a

0:03:14 > 0:03:18demonstrative department -- departure from multilateral as is a

0:03:18 > 0:03:22threat to the economic world order and if that is at stake, it's not

0:03:22 > 0:03:26actually something that promotes cooperation and peace and prosperity

0:03:26 > 0:03:36around the world. David Solomon has emerged as a favourite to become the

0:03:36 > 0:03:47new boss of Godlman sacks. And we have this exclusive story. A leaked

0:03:47 > 0:03:52draft of a United Nations report. Two Singaporean companies have

0:03:52 > 0:03:55violated sanctions against North Korea. This potentially raises

0:03:55 > 0:04:00questions about how common this is in the rest of the region. The final

0:04:00 > 0:04:05report that has been submitted is expected to be published later this

0:04:05 > 0:04:13week. A draft copy of the report has been seen by the BBC.

0:04:13 > 0:04:18This is a shop in Pyongyang is selling branded watches, handbags

0:04:18 > 0:04:22and alcohol. Items which are banned under UN sanctions and Singapore law

0:04:22 > 0:04:27as well but now a leaked UN report claims there is evidence of at least

0:04:27 > 0:04:32one Singaporean company selling luxury goods in North Korea as

0:04:32 > 0:04:36recently as last type -- to lie. There are two companies named in the

0:04:36 > 0:04:40report. But share the same director and up until late last year they

0:04:40 > 0:04:44shared the same address here it is building. The main allegation

0:04:44 > 0:04:48against them in the report that we have seen is that they received

0:04:48 > 0:04:53funds in Singapore for doing business in North Korea. Both

0:04:53 > 0:04:57Singaporean companies deny any wrongdoing. According to the UN, in

0:04:57 > 0:05:05the 1997, Singapore's Dae opened an account with the North Korean

0:05:05 > 0:05:08Daedong credit bank and late to change the name to T Specialist.

0:05:08 > 0:05:13That account was used to transfer money for goods T Specialist sold in

0:05:13 > 0:05:18North Korea to its account in Singapore. Between 10-- 2011 to 2014

0:05:18 > 0:05:21when sanctions had already kicked in, that account continued to

0:05:21 > 0:05:27transfer money into T Specialist's Singapore account, the draft says.

0:05:27 > 0:05:31The companies deny any knowledge, both in relation to the goods being

0:05:31 > 0:05:36sold in North Korea and the funds coming from that account which the

0:05:36 > 0:05:42report alleges. The other main allegation in the report is that OCN

0:05:42 > 0:05:47and T Specialist have long-standing close ties, including ownership

0:05:47 > 0:05:51ties, with a commercial bank that has been on the sanctions list since

0:05:51 > 0:05:552017.The companies have denied this. I would say that our clients

0:05:55 > 0:06:02do not have any financial relationship with these entities in

0:06:02 > 0:06:08the DPRK, North Korea, and they also do not have any interest or any

0:06:08 > 0:06:15financial interest or relationship with this commercial bank that you

0:06:15 > 0:06:20have named in the DPRK.And your clients ever had any financial

0:06:20 > 0:06:26relationship or done business in North Korea?They have done business

0:06:26 > 0:06:29with North Korean entities previously before these UN sanctions

0:06:29 > 0:06:37came into force. But that was previously. After the sanctions came

0:06:37 > 0:06:45into force, they reduced their involvement, but this all formed

0:06:45 > 0:06:51part of the investigations that are ongoing.Many of these transactions

0:06:51 > 0:06:55according to the report appeared to have used Singapore's financial

0:06:55 > 0:07:01system. The monetary authority told the BBC it is working closely with

0:07:01 > 0:07:05the UN in these cases. In a statement, it specifically warned

0:07:05 > 0:07:09that banks need to be aware of the increasing use of multi-

0:07:09 > 0:07:15jurisdiction or front companies, Shell companies, joint ventures and

0:07:15 > 0:07:20complex or opaque ownership structures. Singapore has a

0:07:20 > 0:07:23reputation of being one of the most well regulated financial hubs in the

0:07:23 > 0:07:28world so what's troubling is it this has happened here, how widespread

0:07:28 > 0:07:34problem exists in the rest of Asia? When it has serious issues with

0:07:34 > 0:07:42corruption and a lack of oversight.

0:07:42 > 0:07:47For many of us, the thought of senior Counsel law or mental health

0:07:47 > 0:07:51professional, a start-up in India wants to change how we deal with our

0:07:51 > 0:07:58emotions during tough periods in our lives. We report on how a chat robot

0:07:58 > 0:08:02is providing some comfort.

0:08:02 > 0:08:02It's been is providing some comfort.

0:08:02 > 0:08:02It's been less is providing some comfort.

0:08:02 > 0:08:05It's been less than is providing some comfort.

0:08:05 > 0:08:05It's been less than a is providing some comfort.

0:08:05 > 0:08:06It's been less than a year is providing some comfort.

0:08:06 > 0:08:06It's been less than a year this is providing some comfort.

0:08:06 > 0:08:06It's been less than a year this man is providing some comfort.

0:08:06 > 0:08:09It's been less than a year this man was laid off from his job in India's

0:08:09 > 0:08:14IT sector but the experience left him feeling angry and sometimes even

0:08:14 > 0:08:21depressed. And he found it difficult to open up to his family. But he did

0:08:21 > 0:08:30find some comfort in chatting up. The difficult thing was not getting

0:08:30 > 0:08:35to a state where this happened to me and that's where I keep call talking

0:08:35 > 0:08:43to it. Why do I feel like this today? The chat robot or chat bot

0:08:43 > 0:08:47behaves like a counsellor, focusing on what users are feeling and how to

0:08:47 > 0:08:51respond to them.So this is what the future of therapy looks like, an

0:08:51 > 0:08:56interface where people can ask questions and this chat bot will

0:08:56 > 0:09:02answer so if I type in question about, say, losing my job, the codes

0:09:02 > 0:09:08in the software process it and give you options. I'd like to help but

0:09:08 > 0:09:13can first to equip check to see how this is affecting you? Ops Shimon,

0:09:13 > 0:09:22yes, sure. Option two, maybe later. The founders say the chat bot has

0:09:22 > 0:09:26200,000 clients who are using this app for free. The company behind the

0:09:26 > 0:09:34chat bot makes money from personal and users who use the act.We also

0:09:34 > 0:09:39have models were psychiatrists use Wysa in conjunction with their

0:09:39 > 0:09:43practice and they pay us.Artificial intelligence -based counselling is a

0:09:43 > 0:09:47new field and there isn't a clear consensus on how effective it is.

0:09:47 > 0:09:50There are many things that are real-life therapist can actually

0:09:50 > 0:09:55pick up from what you are talking which an on line therapist will not

0:09:55 > 0:10:01be able to pick up. You are venting out you crying, feeling sad?The

0:10:01 > 0:10:07pitch, the tone. Figures from the World Health Organization show

0:10:07 > 0:10:10nearly 80 million Indians suffer from depression and anxiety

0:10:10 > 0:10:14disorders and with the accessibility of mobile phones, Wysa is confident

0:10:14 > 0:10:18about serving a market that is very much in need of counselling in the

0:10:18 > 0:10:24digital age.

0:10:24 > 0:10:32President Trump has blocked a takeover bid of