:00:03. > :00:10.under-age prostitutes and abused his powers to cover it up. If found
:00:10. > :00:20.guilty, he faces a sentence of up to six years. Now it is down for
:00:20. > :00:25.
:00:25. > :00:31.US Secretary of State John Kerry arise in India as tensions over
:00:31. > :00:35.visas and foreign investment grow. Bangladesh's central bank chief
:00:35. > :00:45.defends the country's garment industry in the wake of the Rana
:00:45. > :00:46.
:00:46. > :00:51.Plaza disaster. A very warm welcome to you. This is World Business
:00:51. > :00:57.Report. In Just a Minute, an exclusive interview with the head
:00:57. > :01:03.of the Bangladeshi central bank. First, John Kerry meets India's
:01:03. > :01:08.Prime Minister on Monday. On the agenda will be barriers blocking US
:01:08. > :01:13.firms have invested in India. The Indian Prime Minister will also
:01:13. > :01:17.raised concerns about US Immigration Reform. Plans by US
:01:17. > :01:26.lawmakers to overhaul temporary working visas could make it harder
:01:26. > :01:32.for Indians and other expatriates to find jobs in the US. This man is
:01:32. > :01:37.a long way from home. He was born and raised in India. He has a
:01:37. > :01:42.master's in computer science which she studied in American classroom.
:01:42. > :01:48.Like hundreds of other highly educated foreigners, he is waiting
:01:48. > :01:55.to find out if he can stay here on a temporary work permit for skilled
:01:55. > :02:00.workers four-star or my God, if I don't get in, what happens?
:02:00. > :02:10.workers. Oh my God. Added to get a good job. The company might not be
:02:10. > :02:11.
:02:11. > :02:17.able to keep me up a do not have a visa. You would have to leave. Yes.
:02:17. > :02:22.Barack Obama has highlighted American companies started by
:02:22. > :02:32.immigrants. They started here and stayed here. Instagram was started
:02:32. > :02:32.
:02:32. > :02:36.with the help of an immigrant. Without access to foreign talent,
:02:36. > :02:42.this technology expert warns that the US will lose out in this
:02:42. > :02:50.competitive world. The tech industry is going through a
:02:50. > :02:57.renaissance. We must have talent that understands the tech industry
:02:57. > :03:02.and had to use technology. -- how to use. We must compete with other
:03:02. > :03:09.countries around the world who are already doing this. This company
:03:09. > :03:17.helps build mobile games. There is a shortage of local talent. They
:03:17. > :03:23.have hired overseas staff. The founder uses Skype to chat to his
:03:23. > :03:28.team in Poland. We have been forced overseas. People talk about
:03:29. > :03:34.outsourcing. We are a small company. We are forced to outsource instead
:03:34. > :03:42.of hiring local talent. The talent overseas is better than what we
:03:43. > :03:48.have here. The legislation has proved controversial. Protests as
:03:48. > :03:55.the bill was discussed. individuals who are protesting will
:03:55. > :04:04.be removed immediately. There are plenty of people who want this to
:04:04. > :04:12.pass. Unemployment is above 7.5 %. Anyone importing cheap labour into
:04:12. > :04:17.America will meet with resistance. As we have been hearing, for this
:04:17. > :04:21.is African President Nelson Mandela is critically ill. -- former South
:04:21. > :04:26.African president. Barack Obama will visit the country this week.
:04:26. > :04:35.It is a tour intended to strengthen ties across the Continent. Six of
:04:35. > :04:44.the fastest 10 growing economies in the world -- the 10 fastest growing
:04:44. > :04:49.economies in the world are in Africa. Our correspondent joins me
:04:49. > :04:55.now. Good to see you. Thank you for coming in. What is Barack Obama
:04:55. > :04:59.hoping to achieve on this is it? A combination of things. Economic
:04:59. > :05:07.engagement is a big part of it. Very high-profile visits from the
:05:07. > :05:12.Chinese leadership. The US has lagged behind. There is not much of
:05:12. > :05:20.a bilateral relationship. It is being pushed strongly. That would
:05:20. > :05:28.be a key part of it. Looking at the country's that Barack Obama is
:05:28. > :05:38.visiting, it is about strengthening bilateral relationships.
:05:38. > :05:42.How far does the US lag behind China? In terms off development in
:05:43. > :05:52.Africa? And the last decade or so, we have seen the extent of Africa-
:05:53. > :05:55.
:05:55. > :06:01.China trade ballooning. Since 2003, it has gone up 25 % every year. US-
:06:01. > :06:08.Africa trade has only grown at 8%. A lot more slowly. Let's talk about
:06:08. > :06:14.Nelson Mandela and his legacy in terms of the effect he has had and
:06:14. > :06:19.the economy for both South Africa and Africa as the home. He is a
:06:19. > :06:23.huge icon across the region. For much of his time in office,
:06:23. > :06:29.economic policy was left to his teams. Since the economic crisis,
:06:29. > :06:33.there has been a lot of revisiting of that. There are thinking about
:06:33. > :06:39.what Africa needs to propel it forward. There is no question that
:06:39. > :06:49.his impact has been leaving that very show strong part of economic
:06:49. > :06:54.
:06:54. > :06:58.policy. Thank you for your thoughts. The Governor of the Central Bank of
:06:58. > :07:03.Bangladesh has insisted the Rana Plaza building collapsed in which
:07:03. > :07:09.over 1,000 people were killed was a one-off and will not hold back the
:07:09. > :07:13.country's booming garment trade. He told her chief correspondent that
:07:13. > :07:22.foreign buyers would need to work with factories and trade unions to
:07:22. > :07:27.improve conditions for workers. There are 5,000 factories in
:07:27. > :07:32.Bangladesh. Maintaining governors for all of them is a big challenge.
:07:32. > :07:42.Unfortunately, this happened at one of the buildings. Most of the
:07:42. > :07:42.
:07:42. > :07:49.factories in Bangladesh are compliant. There are a few which
:07:49. > :07:55.are not. Unfortunately, this has happened. Look at the response. The
:07:55. > :08:00.response was pretty positive. Everybody in Bangladesh responded
:08:00. > :08:06.to the Rana Plaza her. To what extent do you think foreign
:08:06. > :08:14.countries should play a bigger role in helping to resolve some of these
:08:14. > :08:20.issues? The buyers are also going to have
:08:20. > :08:25.to rethink. If you pressurise too much for cheaper products, some of
:08:25. > :08:29.the countries do not have ways to improve their compliance. This
:08:29. > :08:35.realisation is coming all around the world. Bladed to improve. There
:08:35. > :08:44.is a commission that has been set up. -- we need to improve. We are
:08:44. > :08:50.all working. If they can improve the wages, that would be a start.
:08:50. > :08:54.Bangladesh got do what they can in terms of poverty reduction. This is
:08:54. > :09:01.happening because women are coming out of the houses and working in
:09:01. > :09:08.the factories. We should allow them to continue to work in a better
:09:08. > :09:13.environment. Let's bring you some other news note. The heads of 15 of
:09:13. > :09:21.the world's biggest banks had their pay cut by an average of 10 % last
:09:21. > :09:25.year. Bank profits fell by one- fifth. In previous years, bankers
:09:25. > :09:35.continued to award themselves large bonuses despite falling profits,
:09:35. > :09:36.
:09:37. > :09:41.sparking a shareholder revolt and public outrage. The markets, over