:00:21. > :00:27.diplomatic cables. The credit rating agency, fit,
:00:27. > :00:30.downgrades six top global banks in the latest warning to the financial
:00:30. > :00:36.industry. Asian markets shrug off this
:00:36. > :00:41.downgrade as investors that will on improving US data.
:00:41. > :00:51.Zynga is poised for the largest internet flotations is Google,
:00:51. > :00:53.
:00:53. > :00:58.valuing the Facebook game publisher at almost $9 billion.
:00:58. > :01:02.Another day and another warning about the potential impact of the
:01:02. > :01:09.eurozone crisis. Late on Thursday, a credit rating agency downgraded
:01:09. > :01:18.six of the world's largest banks. The names involved are a bank of
:01:18. > :01:24.America and Goldman Sachs in the US. Barclay's in the UK, BNP Paribas of
:01:24. > :01:27.France and Germany's Deutsche Bank and Credit-Suisse. The agency says
:01:27. > :01:33.that the complexity of its business models makes it difficult to assess
:01:33. > :01:43.the size of the loss that could rapidly emerge from unexpected
:01:43. > :01:47.events. Markets appeared to be ignoring this.
:01:47. > :01:52.Of course, this is not the first credit rating agency to have done
:01:52. > :01:57.something similar. That is correct. It follows a
:01:57. > :02:01.similar move by Standard and Poor's late last month. One person we
:02:01. > :02:05.spoke to this morning said that investors are increasingly
:02:05. > :02:12.nonreactive to what these rating agencies are doing because there
:02:12. > :02:16.has been a great deal of bad News. Today, Asian markets have been
:02:16. > :02:21.disregarding that. They are also ignoring the Europe's economic
:02:21. > :02:28.problems for once, betting on better-than-expected jobs data from
:02:28. > :02:32.the US. All markets are higher. Not by much but still high and
:02:32. > :02:38.nonetheless. They are ending three days of losses all is a result of
:02:38. > :02:47.the US jobs data, where the unemployment rate hit a 3.5 year
:02:47. > :02:50.role -- low. After 18 years of talks, the World
:02:50. > :02:55.Trade Organisation is expected to announce that Russia is finally
:02:55. > :03:00.free to join the club of trading countries. Subsidies, tariffs and
:03:00. > :03:06.quotas will gradually be removed. Experts predict that the Russian
:03:06. > :03:10.economy could grow by an extra 1.5% per year as a result. But that will
:03:10. > :03:16.leave it open to the cold wind of foreign competition.
:03:16. > :03:21.Ten years after China joined the WTO, these Russian consumers are
:03:21. > :03:26.finally about to experience the joy of free trade. That should mean
:03:26. > :03:31.cheaper merchandise in the shops. Subsidies on everything from
:03:31. > :03:35.agriculture to fuel will gradually be reduced. The idea is that
:03:35. > :03:40.everyone will harvest the benefits eventually. This could permanently
:03:40. > :03:43.changed Russia from an excessive dependence on oil and gas to a more
:03:43. > :03:47.diversified economy with a more competitive service and
:03:47. > :03:52.manufacturing sector. This could be huge.
:03:52. > :03:56.For some, it could be a mixed bag. The Russian car industry was one
:03:56. > :03:59.that fought against membership. It feared that efficient foreign car
:03:59. > :04:03.companies could put them out of business.
:04:03. > :04:09.What about those that want to sell to Russia?
:04:09. > :04:19.This is that the in caviar and believe it or not, it is exported
:04:19. > :04:25.to Russia are but only when Brent Tate allows. -- when the red tape
:04:25. > :04:29.allows. But the other main concern is the issue of corruption. Ikea
:04:29. > :04:33.was one foreign company forced to pay $5 million to get permission to
:04:33. > :04:40.build a shot in Russia. Except in his to the Guardian Tiare may not
:04:40. > :04:44.end such corruption but it could help to change the culture. --
:04:44. > :04:48.being except it into the World Trade Organisation might not end
:04:48. > :04:52.such corruption but it could help to change the culture. This will
:04:52. > :04:57.hopefully reduce corruption. These are long-term targets and
:04:57. > :05:01.future promises. While the population stands to benefit
:05:01. > :05:08.eventually, inefficient businesses will have to raise their game will
:05:08. > :05:17.suffer widespread pain. It is the largest internet
:05:17. > :05:26.flotation since Google in 2004 and the games design over -- designer,
:05:26. > :05:29.Zynga, is expected to begin trading on the Nasdaq exchange.
:05:29. > :05:35.What does Alec Baldwin have to do with the latest hi-tech share
:05:35. > :05:41.listing? He can tell you how ended de Zynga's games are. He was
:05:41. > :05:46.ejected from a playing for playing one of their games. Zynga is hoping
:05:46. > :05:53.to cash in on the popularity of these and its other titles by
:05:53. > :05:57.selling 100 million shares to the public. Social media is difficult
:05:57. > :06:05.and the video game market is difficult to understand. But that
:06:05. > :06:11.said, as much scepticism ASDA is, this company has five of the top
:06:11. > :06:15.six games on the Facebook platform. They have millions and millions of
:06:15. > :06:19.users. Unlike many recent technological
:06:19. > :06:26.sensations, Zynga actually makes money.
:06:26. > :06:29.On this, his most popular game, you can harvest of virtual crops, feed
:06:29. > :06:34.animals and visit your neighbours. The games themselves are free but
:06:34. > :06:41.people can poachers make believe items using very real money. It is
:06:41. > :06:46.a model that is inspiring others. Sharing his idea was like minders
:06:46. > :06:52.game developers, this man describes his online game where people can
:06:52. > :07:00.upload their drawings and have them fight the drawings of their friends.
:07:00. > :07:03.Zynga is a huge inspiration for me. They have transformed the entire
:07:03. > :07:12.industry. We want to see their business model in terms of what
:07:12. > :07:18.will work and what will not work. Zynga's success may be crowned in
:07:18. > :07:21.an increasingly crowded market. Indonesia is home to the world's
:07:21. > :07:27.fourth largest population of young people but many of them end up
:07:27. > :07:34.surviving on what jobs to make a living. More than 50% of the
:07:34. > :07:44.working employ it is -- of the working population is employed in
:07:44. > :07:46.
:07:46. > :07:56.informal work. Airport town bustling with
:07:56. > :07:57.
:07:57. > :08:02.fishermen, selling their products at dawn. -- a port. For many young
:08:02. > :08:06.people, it is becoming increasingly difficult to find work. This area
:08:06. > :08:16.in Indonesia has a very high school drop out rate. Many young people
:08:16. > :08:20.end up doing odd jobs for going fishing to make ends meet. This is
:08:20. > :08:25.one of the main reasons why this country's economy could fail to
:08:25. > :08:30.meet its potential. This 22-year-old woman is one of
:08:30. > :08:35.the lucky people. She is the proud owner of a mobile phone repair shop.
:08:35. > :08:39.She received help. Her training course was paid for by the
:08:39. > :08:44.International Labour Association. But there is no safety net in the
:08:44. > :08:49.informal sector. She wants to turn her business into a legitimate one.
:08:49. > :08:55.TRANSLATION: If I can, I want to register my business so it becomes
:08:55. > :09:00.legal and I can get a back line. But I do not know how to do that.
:09:01. > :09:07.Close Indonesians never have the opportunity to think that be. This
:09:07. > :09:11.21-year-old had large dreams like so many of his friends. But he did
:09:11. > :09:16.not have the correct qualifications and could not find work. Now he
:09:16. > :09:21.sells magazines on the street, trying to make ends meet.
:09:21. > :09:27.TRANSLATION: I want to find work that fits my skills. I want to get
:09:27. > :09:31.a real dog but I only have a low level qualifications. -- to get a
:09:31. > :09:36.real job. This is an exceptionally young
:09:36. > :09:41.country but the full potential of Indonesia's youth is not being