0:00:00 > 0:00:01Survivors have described the finding as "shocking."
0:00:01 > 0:00:06Now on BBC News, all the latest business news live from Singapore.
0:00:15 > 0:00:20The US slaps sanctions on some Russian individuals and companies
0:00:20 > 0:00:29for cyber-attacks and meddling in the 2016 presidential election.
0:00:29 > 0:00:34Would you want to ride a jet pack to work? How some businesses are
0:00:34 > 0:00:44reinventing the daily commute. Good morning, and welcome to Asia
0:00:44 > 0:00:51Business Report, live from Singapore, with me, Marika Oi. News
0:00:51 > 0:00:56from the US. The Treasury has imposed sanctions on five Russian
0:00:56 > 0:01:01organisations and 19 individuals. It is basically in response to their
0:01:01 > 0:01:06involvement in cyber-attacks on American businesses and institutions
0:01:06 > 0:01:13as well as alleged meddling in the 2016 presidential election. We
0:01:13 > 0:01:21explain what is new.The US already has sanctions against many Russian
0:01:21 > 0:01:26oligarchs. Today, 19 individuals have been picked by the Treasury.
0:01:26 > 0:01:36Robert Mueller, investigating Russia's actions in the election,
0:01:36 > 0:01:43has helped this. One of these is someone known as Putin's Chef,
0:01:43 > 0:01:49owning a restaurant business up at close to the Kremlin. What is
0:01:49 > 0:01:54interesting is that Steve Mnuchin says these sanctions are for
0:01:54 > 0:01:58meddling in the election, but also for the recent use of a military
0:01:58 > 0:02:04grade nerve agent to murder to UK citizens. --2. He has gone further
0:02:04 > 0:02:10than Donald Trump has in pointing to this alleged attack by Russians on a
0:02:10 > 0:02:20UK citizen as a reason for these further sanctions.In other business
0:02:20 > 0:02:24news, Broadcom in Singapore has reported better than expected
0:02:24 > 0:02:32earnings only a day after they were expecting to take over a US company,
0:02:32 > 0:02:37but were blocked by President Trump. They upgraded to $5.2 billion in the
0:02:37 > 0:02:47first quarter, but no mention of the deal. Wesfarmers is spinning off its
0:02:47 > 0:03:00Coles operation, planning to list on the Australian Stock Exchange. The
0:03:00 > 0:03:03demerger comes 11 years after the biggest takeover deal in Australia
0:03:03 > 0:03:07at the time. They are searching in trade on the news. -- surging. India
0:03:07 > 0:03:13has said its trade deficit has narrowed to its lowest in five
0:03:13 > 0:03:16months since February. Just this week, a challenge was launched to
0:03:16 > 0:03:22Indian subsidies worth $7 billion each year at the WTO. Let's go to
0:03:22 > 0:03:30the India business report in Mumbai. What has been the reaction in India
0:03:30 > 0:03:39for this US to be GHO challenge?-- WTO. India spoke about the challenge
0:03:39 > 0:03:44on Thursday. The secretary said she will engage with Washington over the
0:03:44 > 0:03:49challenge and talk about concerns and respond within 60 days. This
0:03:49 > 0:03:53comes after the US took the challenge to the World Trade
0:03:53 > 0:03:58Organisation on Wednesday. It is over the Indian government's
0:03:58 > 0:04:01exemptions for duties, taxes, and some fees for Indian exporters who
0:04:01 > 0:04:06are sending products to the US. They include companies that produce steel
0:04:06 > 0:04:13products, pharmaceuticals, textiles, and IT products. The US says those
0:04:13 > 0:04:17subsidies make the goods very cheap in the US and it is unfair to US
0:04:17 > 0:04:22companies and workers there, creating an uneven playing field.
0:04:22 > 0:04:27The US pegs the benefit to Indian exporters at around $7 billion a
0:04:27 > 0:04:38year.Thank you for that update from Mumbai. Bitcoin prices have fallen
0:04:38 > 0:04:42sharply to below $8,000 after Google announced it was removing all
0:04:42 > 0:04:47advertisements related to crypto currencies. Facebook made a similar
0:04:47 > 0:04:51move earlier this year over concerns about scams in the market. One of
0:04:51 > 0:04:54the biggest industry players still believes that tighter regulation is
0:04:54 > 0:05:04needed.XRP is a digital asset related to Ripples tech, last year
0:05:04 > 0:05:08up almost 20,000%, the best performing of all digital assets.
0:05:08 > 0:05:18The reason is because Ripple solves real problems for customers, working
0:05:18 > 0:05:21with regulators. People are recognising Bitcoin may be the
0:05:21 > 0:05:25Napster of digital assets. What I mean is that Napster showed what
0:05:25 > 0:05:32digital music could do. But Napster tried to circumvent laws and
0:05:32 > 0:05:37trademarks and royalties, and what have you. In a way, Bitcoin tried to
0:05:37 > 0:05:45avoid regulation, to have anonymous transactions. That is not what
0:05:45 > 0:05:58Ripple is doing. In the same way Napster graduated to Spotify and
0:05:58 > 0:06:01iTunes, the third generation may be the one that lasts.To crypto
0:06:01 > 0:06:06currencies lose appeal when governments regulate them? -- do.
0:06:06 > 0:06:11The idea of the crypto world can live in the shadows and avoid
0:06:11 > 0:06:16regulation, I think, it is just not reality. Some in the community, the
0:06:16 > 0:06:32crypto community, were borne of an anti-government and anti-bank point
0:06:32 > 0:06:35of view. Ripple says you need to work with the system and
0:06:35 > 0:06:38regulations.There are degrees of regulation. China, a massive market,
0:06:38 > 0:06:41took a massive stance against the currencies. This hurts development
0:06:41 > 0:06:46of the market.I agree with you. What has happened in the ICO market
0:06:46 > 0:06:52is bad for the whole market. It really is fraud. There are many
0:06:52 > 0:06:56scams going on, and it is bad for the entire blockchaing and crypto
0:06:56 > 0:07:01market. But countries by China have taken a strong stance against
0:07:01 > 0:07:08crypto. They say if they are safe and efficient, they say digital
0:07:08 > 0:07:20assets are inevitable.So, Ripple and XRP, that success has seen you
0:07:20 > 0:07:23become a paper billionaire. Had it that there?I am looking at the
0:07:23 > 0:07:28long-term. It is not about three weeks, three days, three months, we
0:07:28 > 0:07:33are solving a multitrillion dollar problem. If we do that, we will be
0:07:33 > 0:07:37in a good spot.For most of us, getting the work is straightforward.
0:07:37 > 0:07:44You drive yourself, or take public transport. These days, though,
0:07:44 > 0:07:47advances in robotics, automation, and artificial intelligence, they
0:07:47 > 0:07:58are changing the way we travel, even to the office. Kicking off the new
0:07:58 > 0:08:01series, The Future of Work, Rico Hizon looks at the alternative
0:08:01 > 0:08:05choices. People have long dreamt of taking a jet pack or a flying car to
0:08:05 > 0:08:12work. And that reality is closer than most of you think. The
0:08:12 > 0:08:17challenge is moving people from transportation hubs to final
0:08:17 > 0:08:22destinations. For urban planners, it is a complex problem that involves
0:08:22 > 0:08:26congestion, runtimes, and population density. And this is a driverless
0:08:26 > 0:08:32bus. The latest step some cities are taking to get you where you need to
0:08:32 > 0:08:39go.Human nature is that if transport is not comfortable, you do
0:08:39 > 0:08:45not adapt it.Drones are being tested, but widespread use is yet to
0:08:45 > 0:08:49come. For now, battery powered electric vehicles are moving people
0:08:49 > 0:08:55in new ways. For many commuters, this is the last mile solution. If
0:08:55 > 0:09:05the office is there and the train is only taking them here. How does it
0:09:05 > 0:09:10work?Battery operated scooters, electric scooters, you can use them,
0:09:10 > 0:09:17activate them, by a QR code. We see a huge popular demand in all places
0:09:17 > 0:09:27we have launched, especially when you need connection from the MRT
0:09:27 > 0:09:32station to offices and schools. There will be a transport technology
0:09:32 > 0:09:35explosion in the coming years because of new technologies and life
0:09:35 > 0:09:44starch trends. -- lifestyle.Jet packs and the likes were only used
0:09:44 > 0:09:51by James Bond and Maya McFly in the past. -- Marty. But learning to fly
0:09:51 > 0:09:58is one man aircraft is apparently easier than riding a bicycle.We are
0:09:58 > 0:10:03at the stage we can get into really it boring the dream and the idea and
0:10:03 > 0:10:08the concept behind true human flight. -- we can achieve things
0:10:08 > 0:10:14people have been dreaming of for a long time.They may not be real just
0:10:14 > 0:10:19yet, but one thing is for sure, the way we get to work is quickly
0:10:19 > 0:10:23changing and will be vastly different in the future. Rico Hizon,
0:10:23 > 0:10:28BBC News, Singapore. For more on the series, go to the website on your
0:10:28 > 0:10:31screen now. That is it for this