:00:06. > :00:16.at a security barrier in Karachi. Those are the headlines. Now it is
:00:16. > :00:19.
:00:19. > :00:24.time for World Business Report. Thank you for joining us.
:00:24. > :00:29.Scandinavian airline SAS sides to avoid bankruptcy. Intense
:00:29. > :00:34.negotiations continue. Name morning flights are cancelled. Another
:00:34. > :00:40.crucial week for Greece as eurozone ministers try to resolve a row with
:00:40. > :00:48.the IMF over how to contain the debt crisis. And I am Rico Hizon in
:00:48. > :00:58.Singapore. Barack Obama visits one of the few economic bright spots in
:00:58. > :01:02.the world. He wants to strengthen business and trade relations. We
:01:02. > :01:07.start with news about the Scandinavian airline SAS. It is
:01:07. > :01:13.fighting to prevent bankruptcy. Negotiations were expected to end
:01:14. > :01:21.around midnight. They are continuing. Bower one union has
:01:21. > :01:27.signed a new agreement. The company and wants to cut its employees. It
:01:27. > :01:32.was to cut salaries by 15 % for flying staff and 17 % for
:01:32. > :01:37.management. The staff will receive longer working hours if they agree
:01:37. > :01:41.to the demands. Many SAS flights had been cancelled this morning. We
:01:41. > :01:45.will bring you up to date with the latest developments as they
:01:45. > :01:50.happened. If you are travelling throughout Europe, check with the
:01:50. > :01:55.airline. Greece has gone through many make-or-break weeks. This is
:01:55. > :02:05.the latest. The country is hanging on without its next injection of
:02:05. > :02:15.bailout cash. At a meeting to raise more support, an IMF meeting has
:02:15. > :02:16.
:02:16. > :02:20.begun to overshadow the issues. -- IMF disagreement. The public health
:02:20. > :02:25.system is close to collapse. Patients are returning to charities
:02:25. > :02:32.for essential health care while the country tries to stay afloat on
:02:33. > :02:38.temporary loans raised by the state debt be easy. TRANSLATION: We are
:02:38. > :02:43.at the end of the precipice in Greece. No surprise, no money.
:02:43. > :02:52.Hospital funding is reduced. As a result, basics applies are always
:02:52. > :02:57.missing. The Finance Minister appealed for
:02:57. > :03:03.bailout cash. He was battling a faulty microphone when he described
:03:04. > :03:09.the predicament. A country has no liquidity. We must at last have a
:03:09. > :03:15.decision for the next instalment. vote for the disbursement was
:03:15. > :03:23.promised for Tuesday this week. Lenders may only be ready to close
:03:23. > :03:27.the gap for a temporary two years. Christine Lagarde regards this as a
:03:27. > :03:34.real fix. It would involve the Government writing off some of the
:03:34. > :03:39.debt to them. What will emerge? most likely scenario is that over
:03:39. > :03:49.the coming days, they will be some sort of partial agreement. That
:03:49. > :03:50.
:03:50. > :03:55.will avoid bankruptcy but have a high debt burden. They will have to
:03:55. > :04:01.default at some point. For those waiting for medicine and essential
:04:01. > :04:09.care, even two years more financial support will not come a moment too
:04:09. > :04:15.soon. As we have been hearing, Barack Obama is the first sitting
:04:15. > :04:19.US President to come to Burma. Let's get more. A low. Let's talk
:04:19. > :04:27.about what Barack Obama will be expecting in terms of business
:04:27. > :04:32.deals. South-east Asia is one of the
:04:32. > :04:39.world's few economic bright spots. Barack Obama is visiting this
:04:39. > :04:45.economic bloc to try to strengthen business and trade relations. He
:04:45. > :04:53.will visit Burma, Cambodia and Thailand. He wants to work on
:04:53. > :04:59.emerging markets. This is high on his priority list. It is a market
:04:59. > :05:05.of 600 million people. A GDP of more than two trillion dollars. The
:05:05. > :05:11.US's pushing this partnership. Thailand is America's third biggest
:05:11. > :05:15.trading partner behind Thailand and Japan. It is becoming the 12th
:05:15. > :05:21.country to join the initiative. Barack Obama is pushing this. The
:05:21. > :05:27.region is relying more on trade with China. 150 billion US dollars
:05:27. > :05:35.worth of goods were exported last year. That is a 30 % increase and
:05:35. > :05:41.2010. Imports grew by 30 %. They want to counteract the strength of
:05:41. > :05:46.China in this region. The US may benefit from the regional bloc. The
:05:46. > :05:50.Chinese will be torn by geopolitical disputes and the
:05:51. > :05:56.desire to force deeper integration of South Korea and Japan as a
:05:56. > :06:01.counterweight to any US trans- Pacific partnership. Thank you for
:06:01. > :06:08.the upbeat. Moving on to something different,
:06:08. > :06:18.we talk about the machines. The new Nintendo Wii has gone on sale. It
:06:18. > :06:22.
:06:22. > :06:29.is the first in the next generation This model is much more complex
:06:29. > :06:35.than the original. Will consumers buy it? If they do not come off
:06:35. > :06:40.where does that leave Nintendo? Thank you for joining us. What are
:06:40. > :06:46.your thoughts on are the new Nintendo Wii. --? Is it
:06:46. > :06:51.complicated? A lot to get your head around. Nintendo at the forefront
:06:51. > :06:56.of innovation again. It tends to move the market along when it
:06:56. > :07:03.brings out a new console. They will use a touch-screen game pad to
:07:03. > :07:10.control what goes on on the screen. Consumers will get their head round
:07:10. > :07:20.game pad and the television. It could confuse people. Is it going
:07:20. > :07:25.
:07:25. > :07:33.gaining from the age five to the age of 95. This is set to continue
:07:33. > :07:39.that but they are trying to bring This is a game you can play after
:07:39. > :07:44.the kids have gone to bed. Hardcore shooting based games. That put the
:07:44. > :07:49.thing. They are trying to appeal to everybody. A lot of the launch
:07:49. > :07:54.titles, it looks like they will try to carry on the huge fan base of
:07:54. > :08:01.people to what used to dealing with the Nintendo Wii. How important is
:08:01. > :08:05.it for them to get this right? They face huge competition. This is a
:08:05. > :08:10.different market this time. Last time it was just about games. This
:08:10. > :08:15.time they are competing with lots of on-line systems were people can
:08:15. > :08:20.organise content through the device. Nintendo made a loss last year.
:08:20. > :08:29.This does not define their future existence but it defines what shape
:08:29. > :08:36.it will take. Thank you for that. Other stories making headlines.
:08:36. > :08:41.Cisco Systems, the largest maker of networking gear, is buying Meraki
:08:42. > :08:47.for $1.2 billion. That is to allow customers to compete in the cloud.
:08:47. > :08:56.Meraki is based in San Francisco and has offices in New York, London
:08:56. > :09:03.and Mexico. The company was founded in 2006 by students. Jaguar Land
:09:03. > :09:10.Rover and Chery, the British and Chinese car makers, formally laid
:09:10. > :09:15.the storm for their new partnership. The companies will accelerate plans
:09:15. > :09:19.to build a joint manufacturing plant in Shanghai. It is part of
:09:19. > :09:27.for investment that will include a new research and development
:09:27. > :09:30.facility and engine production. On the markets, trading is
:09:31. > :09:37.continuing throughout Asia. A better performance for the main
:09:37. > :09:42.Japanese stock market, the Nikkei. It is up by 1.5 %. It is held by
:09:42. > :09:47.the US on Friday. Barack Obama had been having talks with
:09:47. > :09:51.congressional leaders surrounding the budget deficits. There was a