21/05/2014 World Business Report


21/05/2014

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Those are the latest headlines from BBC World News. Now for the latest

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financial news with World Business Report. The world's biggest computer

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maker Lenovo takes on Samsung and Apple in the race for smartphone

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sales. No cash, no customers, and no sign of improvement, how Crimean

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firms are coping in the ongoing crisis in Ukraine. Welcome to World

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Business Report. I'm Sally Bundock. Also in the programme, what is

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Donald Trump up to in Dubai? We'll have the details. But first: It is

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known as the world's biggest PC maker but, as of this year, Lenovo

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is actually selling more phones and tablets than old`fashioned PCs. At

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the start of 2014, the Chinese company announced it would pay

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Google $3 billion for its mobile arm, Motorola. We'll find out how

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the Motorola brand will feature in Lenovo's big push into the US and

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Europe, when it unveils earnings shortly. The BBC's Juliana Liu joins

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us from our bureau in Hong Kong. The EU. What are we expecting Lenovo ``

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nice to see EU. We expecting Lenovo to say later today? They will

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examine their financial performance for the past year. Expecting fairly

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strong figures for the first three months of 2014. Just a few months

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ago they told us that revenue and profits were at record highs. So not

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much of a surprise on that right. But as you say, analysts and media

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will flock to their press conference later today to really see what the

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executives have to say about how they plan to integrate those two

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enormous purchases that you have just talked about. They made them

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for $5 billion in the space of a week. Lots of concern about how they

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actually plan to integrate those two enormous his Mrs. The company says

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it may take about the year. But analysts suspect it could take two

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or three years. How disruptive could Lenovo be in the smartphone market

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Rees are Apple and Samsung actually worried at the moment Rees as you

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know, Lenovo is number one in terms of PC sales around the world. But

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those sales are also falling. So... They have really done that. At

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Lenovo say it is a global company, but it is really very well`known.

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Its business is really buttressed I how well they do in China. So by

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purchasing the Motorola brand which is still fairly strong in the US and

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Europe, that is essentially their strategy for cracking into those

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markets. Thank you very much indeed. Apologies that we lost the line

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there for a moment. But we persevered. In other news: The US

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Senate is set to confirm the appointment of world`renowned

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economist Stanley Fischer to the Federal Reserve on Wednesday. The

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former Bank of Israel Governor will become Janet Yellen's number two on

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the committee that sets the cost of borrowing in the world's biggest

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economy. During his long academic career, the 70`year old taught

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former Fed chief Ben Bernanke and current European Central bank boss

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Mario Draghi. Taiwan's Vice Economic Minister is in Hanoi to ask for

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compensation from the Vietnamese government for Taiwanese companies

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hit by recent anti`China protests. Hundreds of foreign`owned businesses

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were attacked. Some were even set alight. The violence came after

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China chose to send a deep`water oil drilling rig into contested waters

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in the South China Sea. Taylor Swift is being sued for breaking trademark

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rules. The country star claims that 13 is her lucky number but it proved

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unlucky when she started using it in her clothing range. Californian

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company Blue Sphere says it registered the trademark two decade

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ago. It has started an injunction to prevent her using the term on her

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merchandise. Two months after Crimea was annexed by Russia, local

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residents are still trying to adjust to new realities. Disruptions in

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daily life mean that simple things like withdrawing money turn into a

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painful process. But many are hopeful that Russia will bring them

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positive changes. Abdujalil Abdurasulov reports from Crimea. One

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of the first things these Crimean villagers have got from Russia is

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gas. The new leader of Crimea is seen here opening a gas distribution

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station in this village. It was the sight of a military stand`off just a

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few months ago. The mood elsewhere is not so cheerful. Many residents

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cannot make any monetary transactions since their banks are

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now closed. Most cash machines are not working either. There are also

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big queues to apply for Russian passports. The list already includes

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more than 15,000 people. This man is number 4235. He is anxious to get

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his new passport. TRANSLATION: I can't register a car or get a driver

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's licence without a Russian passport. Schools are also adjusting

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to the new realities. Teachers in this high school will spend a busy

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summer studying the Russian curriculum. Students will get new

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Russian textbooks. But the school also has classes with Ukrainian as

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the main language. It is not clear what will happen to them.

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TRANSLATION: Ukrainian language would definitely be studied as one

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of the subjects. It is up to the parents if they want to keep their

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kids in classes that are fully taught in Ukrainian. Businesses are

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facing challenges as well. Tourism is the main source of income for

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many residents in Crimea. And since most tourists come from Russia and

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Ukraine, many fear that the latest developments in the region may

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seriously affect their businesses. This hotel is half empty compared to

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its status this time last year. Yet its manager is optimistic. He

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expects a significant increase of tourism from Russia. But if Ukraine

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remained unstable, transport to Crimea could be quite propagated.

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That would make it hard to convince Russians and Ukrainians to spend

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their holidays here. Let's tell you what this man is up to. Some

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consider him larger than life. Three years after his plan to build

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another Trump Tower in Dubai was scrapped, Donald Trump, the New York

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real`estate mogul, is back in the desert sheikdom with a new project:

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a vast luxury complex on the outskirts of the city, comprising

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what he describes as a 'Trump International' golf course and 104

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luxury villas. The BBC's Mark Lobel met him. Donald Trump's rands

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monopolise Dubai's billboards. The property tycoon is back. And

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apparently unfazed eye near miss a few years ago. Launched to fanfare

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in 2008, this much heralded multibillion`dollar trump hotel and

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apartment project never got off the ground. Well, the market crashed,

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the world crashed. Dubai was not welding and we decided not to do

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that job. It was a good we didn't cause it would have obviously been

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not so good. But we got very lucky and didn't go forward at that time.

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Other high and projects planned for Dubai, like Tiger Woods' golf estate

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had to be put on hold when the market collapsed. Now Donald Trump

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is going on with his plans began. He got us here to show us the latest

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stage of his vision on an empty piece of her dumb act land which

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will turn into one of the world's greatest golf courses. We wanted to

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find out how confident he is in Dubai's new growth. There are so

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many places to go, but Dubai is a solid investment. It is a great

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people. It is a vibrant place, and the people are vibrant and smart. I

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would say, it is a safe haven, relatively speaking. But what is

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really safe? People love to invest in Dubai because they like Dubai.

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104 villas, some of which are priced at $10 million, are for sale on the

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golf estate which should be functional in under three years.

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Despite his enthusiasm for the project, Mr Trump would not disclose

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how much he is personally investing. I have my name at stake also. It is

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a very big stake. When I do any job I want to make sure that job is

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going to be successful. The billionaire must be hoping it is

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second time lucky. Let's have a look at the markets. The Bank of Japan

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had its regular meeting and decided to keep its stimulus programme

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unchanged. So no more or less monetary easing going on in Japan.

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They are confident the economy is doing well. That is despite the

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introduction of a sales tax at the beginning of April. At the yen is at

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eight 3.5 month high against the dollar. The close of the US did not

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help sentiment in Asia either. I will see you soon. Many thanks to

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Sally. We will look at the papers in a moment, but first, letters are

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being sent to thousands

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