:00:00. > :00:00.sites. Those are the latest headlines from BBC World News. Now
:00:00. > :00:18.for the latest financial news, and World Business Report. The race to
:00:19. > :00:21.prevent a financial collapse: the EU, IMF and US discuss the options
:00:22. > :00:29.for Ukraine, as Russia suspends its financial bailout. It can take your
:00:30. > :00:32.pulse and recognise your finger, but how does it stack up against the
:00:33. > :00:45.competition? We check out Samsung's latest offering, the Galaxy S5.
:00:46. > :00:48.Welcome to World Business Report. I'm Sally Bundock. Also in the
:00:49. > :00:50.programme, we'll have the details on the next step in the
:00:51. > :00:57.multibillion-dollar Trans-Pacific Partnership. With the world's focus
:00:58. > :01:01.on Ukraine, and how to rebuild a broken country, what of its economy?
:01:02. > :01:05.Russia's suspended the second instalment of its financial
:01:06. > :01:09.assistance for Ukraine. It doesn't want to risk their money being
:01:10. > :01:11.managed by the opposition. We're not just talking about a financial
:01:12. > :01:16.arrangement either, but serious tension, and concern between Russia
:01:17. > :01:19.and the Western world. It's a complicated mess, nearing
:01:20. > :01:21.bankruptcy, Ukraine has $88 billion dollars in long-term foreign debt.
:01:22. > :01:24.But it is estimated the government, the national bank, and state-owned
:01:25. > :01:31.gas company together need to pay $13 billion this year just to service
:01:32. > :01:39.that debt. And the country's reserves are now down to less than
:01:40. > :01:42.$18 billion. So the question is, how will Ukraine overcome its financial
:01:43. > :01:44.crisis without these funds? Well Baroness Ashton, the EUs foreign
:01:45. > :01:47.policy chief, is trying to co-ordinate a short-term package of
:01:48. > :01:49.financial assistance, with donors from the EU and US and the
:01:50. > :01:52.International Monetary Fund discussing a loan programme to
:01:53. > :02:07.prevent the Ukraine economy from heading into abyss. Here to help us
:02:08. > :02:18.unpack this detail is Lilit Gevorygan, Russia analyst with IHS
:02:19. > :02:23.Global Insight. You. To take on the various options on the table
:02:24. > :02:27.regarding Ukraine economy. And where the help will come from in the near
:02:28. > :02:35.future? Toner I don't think Ukraine has many choices. The Russian credit
:02:36. > :02:38.line that was offered in mid-December 2013, the gas price
:02:39. > :02:48.discount, are pretty much off table. Ukraine has two seek external
:02:49. > :02:51.financing from IMF to meet its immediate external obligations. I
:02:52. > :03:00.believe that the economy is not in the shape to get along without the
:03:01. > :03:03.external help. Hence, Ukraine has to pursue external financing from IMF
:03:04. > :03:09.and EU. That is likely to happen, isn't it? Ukraine is in such a
:03:10. > :03:16.critically important place, it is in anyone's interest that it doesn't
:03:17. > :03:20.collapse. Think so. Despite some speculation or perception that
:03:21. > :03:28.Russia is not really interested in a stable Ukraine, it is. For example.
:03:29. > :03:31.Almost 70% of Russia's EU bound gas exports go via Ukraine. Obviously
:03:32. > :03:39.stability and economic stability is quite important. Russia is a major
:03:40. > :03:42.investor in the country. So is EU. So European businesses, Russian
:03:43. > :03:47.businesses, are very interested in stability of this country. And it
:03:48. > :03:54.economic stability. Why is it in such a mess? It has been in
:03:55. > :03:59.turmoil, political turmoil, for a long time. It has been ten years
:04:00. > :04:03.now, and two revolutions within ten years is quite a serious blow to any
:04:04. > :04:10.country's economy. Successive governments have mismanaged the
:04:11. > :04:13.economy because they have been spending more, the country's
:04:14. > :04:20.industry wasn't expanding, and business environment was poor, and
:04:21. > :04:28.the expected windfall never really came to the Ukraine in large sums.
:04:29. > :04:32.It was a combination of elements that led to this dire state. Also,
:04:33. > :04:39.for a long time, IMF have been calling for cutting the domestic gas
:04:40. > :04:42.subsidy. Letting the local currency float. All of these have been
:04:43. > :04:47.delayed because they were popular with the electorate. Now is the time
:04:48. > :04:53.for the Ukraine politicians to tackle these issues. Thank you very
:04:54. > :04:56.much for your time. We will talk some more about that when we discuss
:04:57. > :05:01.today's newspapers in about five minutes. Let's talk about Samsung.
:05:02. > :05:04.Samsung have announced their new flagship smartphone. The Galaxy S5
:05:05. > :05:08.will be launched in April this year globally, except for Japan. At a
:05:09. > :05:11.press event in Barcelona, Samsung's Stephen Taylor showed the BBC's Mark
:05:12. > :05:31.Gregory some of its new and improved features. The hype is over, the
:05:32. > :05:39.launch has happened. The Galaxy S5 is here. With me is Steven Taylor of
:05:40. > :05:43.Samsung. How did the launch go? You are in your selves. There was
:05:44. > :05:49.genuine excitement. There is always a lot of anticipation around
:05:50. > :05:53.launches. We were getting spontaneous applause for a lot of
:05:54. > :06:04.the features. For us it was a really good success. We were very pleased
:06:05. > :06:09.with it. Let's look at the phone. Yes, lets. The first thing is the
:06:10. > :06:12.simplicity of the screen. We have cleaned up the user interface.
:06:13. > :06:16.Consumers are keen on that. A lot of the features we have enhanced the
:06:17. > :06:21.ones that are super important. The key thing is the camera. The camera
:06:22. > :06:30.has been improved on a number of levels. For one, it has a sharp
:06:31. > :06:35.autofocus and is .3 of a second. You can take a quick shot. The other
:06:36. > :06:44.thing you have in their is this rich depth feature with HDR. By switching
:06:45. > :06:49.on that feature, you have real colours. Could make the colour that
:06:50. > :06:55.writer and prettier. Stands out. And in real low light or brightness it
:06:56. > :07:00.will adjust. You can see photograph in the best quality. What else does
:07:01. > :07:05.it have? It's the first smartphone to have a heart rate monitor
:07:06. > :07:12.integrated into the back of it. It can monitor your heart rate all the
:07:13. > :07:20.time. A new family of devices. I hope you enjoy it. That is the
:07:21. > :07:25.latest from the mobile phone conference in Barcelona. Take a look
:07:26. > :07:49.at the scene behind me. You concede many smiley faces, smiling up for
:07:50. > :07:52.the cameras. Global trade ministers are holding their final round of
:07:53. > :07:54.talks today for an ambitious new free trade zone called the
:07:55. > :07:56.Trans-Pacific Partnership. The proposed deal will link 12
:07:57. > :07:59.countries, ranging from Australia to Peru, by allowing greater market
:08:00. > :08:02.access, and lower taxes. But China is excluded. It's a key part of
:08:03. > :08:05.America's so-called pivot to Asia, given the region's rising economic
:08:06. > :08:08.importance. For more, let's go live to Rico Hizon, who has been
:08:09. > :08:11.following the meeting in Singapore. What is the latest? In about an hour
:08:12. > :08:17.'s time, we will have a clearer picture. They may be smiling, but
:08:18. > :08:21.they may not be smiling at the end of the meeting. Because according to
:08:22. > :08:27.many trade analyst they are not very hopeful that the deal was forged.
:08:28. > :08:34.Japan's economic minister said that differences remain between them. And
:08:35. > :08:37.the United States. There are still basically tensions over agricultural
:08:38. > :08:41.tariffs. That is one of the key hurdles facing this transpacific
:08:42. > :08:49.partnership. Japan has tried to protect its rice, beef, dairy and
:08:50. > :08:54.sugar. That is in particular the focus. Farmers in the big exporting
:08:55. > :08:59.countries push for the elimination of all tariffs. It seems like they
:09:00. > :09:02.are not willing to budge. The United States is also not showing any
:09:03. > :09:09.willingness to make concessions on its demands. Negotiators are hoping
:09:10. > :09:13.that a draft deal will be ready by the time Obama visits the region in
:09:14. > :09:19.April. Some analysts are sceptical, saying a deal is only likely to
:09:20. > :09:25.materialise by year 's end. And give remote indeed. Let's squeeze in some
:09:26. > :09:28.other stories. Sales of Cuba's famous cigars jumped 8% in 2013,
:09:29. > :09:31.helped by strong demand from the island's smokers, and China. Total
:09:32. > :09:34.sales reached $447 million, up from $416 million in 2012, according to
:09:35. > :09:36.Habanos SA, which is co-owned by Cubatabaco and British firm Altadis.
:09:37. > :09:40.Europe remains the biggest market, but demand from China and the Middle
:09:41. > :09:55.East has helped boost sales. Cuban cigars are still banned from the US
:09:56. > :09:59.market. The markets were seeing a much stronger session today than we
:10:00. > :10:03.saw yesterday. The main market up almost 1.5%. They have 20 minutes to
:10:04. > :10:09.go. I will see you soon.