:00:00. > :00:00.Those are the latest headlines from BBC World News.
:00:00. > :00:00.Now for the latest financial news with Sally
:00:00. > :00:20.We look at the cost of the stepped up security in Europe
:00:21. > :00:27.And, we take you to the tiny Pacific island of Kirabas to look
:00:28. > :00:35.at how a minnow is trying to claim a little more of a very big fish.
:00:36. > :00:44.Also in the programme: Sharp shares surge for a third day
:00:45. > :00:56.What is the cost of keeping Europe safe?
:00:57. > :00:58.The Paris terror attacks and the ongoing lockdown in Brussels,
:00:59. > :01:01.the capital of Belgium, has prompted countries across Europe to
:01:02. > :01:04.The French government has announced a boost
:01:05. > :01:07.of $641 million to its security budget at home for next year.
:01:08. > :01:10.That's expected to cover the cost of hiring 5000 more police officers
:01:11. > :01:12.as well as buying more specialist equipment.
:01:13. > :01:16.As a result, the French government has already said it will fail to hit
:01:17. > :01:29.The Belgian government has also set aside an additional $427 million
:01:30. > :01:33.These funds will help reinforce border checks and put
:01:34. > :01:37.And in the UK, Prime Minister David Cameron has outlined plans
:01:38. > :01:40.for up to 10,000 troops that could be deployed onto British streets in
:01:41. > :01:45.In total the UK plans to spend an additional $18 billion
:01:46. > :01:55.With me is Dr Hugo Rosemont, Teaching Fellow and Assistant
:01:56. > :01:58.Director at the Centre for Defence Studies within the Department of War
:01:59. > :02:03.He is advising global governments on security and defence policy.
:02:04. > :02:12.Thank you for coming in so early in the morning. No surprise that key
:02:13. > :02:23.governments in Europe have rethought their defence budget. This is a
:02:24. > :02:28.serious and ongoing situation. As of yesterday, the UK government has
:02:29. > :02:31.announced a new Strategic Defence and Security Review within which
:02:32. > :02:35.details have been contained on additional spending and a 30% rise
:02:36. > :02:40.on counterterrorism spending. There will be additional resources for
:02:41. > :02:45.intel and agencies with 1900 additional officers. --
:02:46. > :02:52.intelligence. It isn't all new. We have faced a severe threat from
:02:53. > :02:58.terrorism for many years now. It is additional expenditure on top of a
:02:59. > :03:04.consistent rise in intelligence expenditure to meet this severe
:03:05. > :03:07.threat. While these announcements might draw many headlines we aren't
:03:08. > :03:13.reinventing the wheel. It is costly. We put all park figures
:03:14. > :03:29.there for the viewers to look at. The question is, where will the
:03:30. > :03:34.government finds the money? -- find. Yesterday we had from Michael
:03:35. > :03:38.Fallon, the Defence Secretary, explaining that the economy is on
:03:39. > :03:42.the recovery in the UK and that decisions would have to be made and
:03:43. > :03:47.defence spending would be going up and other areas would see
:03:48. > :03:54.retrenchment, like welfare. -- heard. That will be controversial
:03:55. > :03:57.coming out of the spending review, but ultimately most people would
:03:58. > :04:03.feel reassured that the government is taking its primary responsibility
:04:04. > :04:09.seriously. We mentioned France, the UK, and also Belgium, obviously,
:04:10. > :04:13.Brussels is in lockdown still at the moment which has been in place for
:04:14. > :04:18.some time now. Some would argue these are unprecedented times and
:04:19. > :04:25.therefore it is very difficult from the point of view of a government to
:04:26. > :04:27.see what it would need in terms of future funding for this kind of
:04:28. > :04:32.thing. The situation across different government in Europe is
:04:33. > :04:38.different. Belgium has had problems with an absence of government at
:04:39. > :04:44.times. But even without that you will see a strong response from the
:04:45. > :04:49.Belgium authorities. The UK has been at the forefront of arguing that
:04:50. > :04:57.there needs to be more information sharing across Europe to counter
:04:58. > :04:59.these threats. Hopefully we're seeing European governments running
:05:00. > :05:08.around and cooperating to confront this threat. Of course, it comes
:05:09. > :05:11.from a lot of home-grown terrorism from within Europe so there needs to
:05:12. > :05:15.be a lot more information sharing. But in terms of the resources, it is
:05:16. > :05:22.important they put in new things for that to make sure they keep on top
:05:23. > :05:27.of it. Thank you for contributing your time this morning. So much more
:05:28. > :05:35.to discuss. There is much more on the website, so if you want to see
:05:36. > :05:36.more detail go there. But we need to move on.
:05:37. > :05:39.Shares of troubled Japanese display maker Sharp are on the climb today.
:05:40. > :05:42.Rico Hizon is in our Asia Business Hub in Singapore is
:05:43. > :05:52.Sally! They have been in trouble for so long. What is the latest? There
:05:53. > :05:57.are reports that the main lenders of this manufacturer are seriously
:05:58. > :06:00.considering for giving the company's loss. If there is a
:06:01. > :06:06.wipeout of these deaths it will facilitate an investment by a
:06:07. > :06:11.government backed investment fund. -- debts. That is why they are
:06:12. > :06:17.skyrocketing by 22%. As you mentioned, they have endured a lot
:06:18. > :06:25.of rain over the last few years, 10 billion in losses after they were
:06:26. > :06:33.undercut in the liquid crystal display TV sets. -- pain. But they
:06:34. > :06:38.also are considering selling a stake to the government backed innovation
:06:39. > :06:43.network corporation of Japan or to Taiwan. That is why we are seeing a
:06:44. > :06:47.lot of excited investors here. Staying with Japan, a preliminary
:06:48. > :06:53.survey of the manufacturing index has shown signs of an improving
:06:54. > :06:58.economy. Factory and new exporter orders combined had its fastest
:06:59. > :07:04.expansion in 20 months in November. Those games also suggest that they
:07:05. > :07:11.may be shaking off the effects of China's slowing economy. A glimmer
:07:12. > :07:13.of hope. Thank you very much. Rico Hizon in Singapore.
:07:14. > :07:16.Many people may not have heard of the tiny Pacific nation of Kiribas,
:07:17. > :07:19.but there's a good chance you could have eaten tuna from its waters.
:07:20. > :07:21.The country's land area is smaller than Greater London's,
:07:22. > :07:24.but its fishing grounds cover an area bigger than India.
:07:25. > :07:27.It's economy struggles, though, in part because most of the wealth from
:07:28. > :07:31.Now, it's trying to keep more at home.
:07:32. > :07:41.Timothy McDonald reports from Tarawa, the main island of Kirabas.
:07:42. > :07:49.Not every fishing venture in Kirabas has ended in success. But they
:07:50. > :07:54.provide a substantial part of the diet and catching them is central to
:07:55. > :07:58.culture here. Further out to sea, fishing could be key to their
:07:59. > :08:02.economic future. It is a tiny country with huge fishing grounds
:08:03. > :08:10.and it is doing it best to make the most out of them. -- its. They are
:08:11. > :08:17.unloading eight tons of June, taking great care of them because bruised
:08:18. > :08:24.fish is not worth that much. -- tuna. Kirabas hope that by
:08:25. > :08:29.processing fish were in the country they can keep more jobs and wealth
:08:30. > :08:37.at times. But, they also sell the rights to fish to other countries.
:08:38. > :08:41.They have quadrupled their licensing revenues over the last few years by
:08:42. > :08:49.doing so. But the potential income from processing is a much big fish.
:08:50. > :08:57.-- bigger. If we process all the fish in our waters our GDP would
:08:58. > :09:03.triple. All of it is being taken to Bangkok to be canned. Imagine all
:09:04. > :09:11.the jobs being created there and not here. So, our objective, and I think
:09:12. > :09:15.it is fair, we want the processing and participation in the industry.
:09:16. > :09:23.Not just being the source of the main material. They only get a 5%
:09:24. > :09:27.slice of the fish. This is an attempt to change that. It is
:09:28. > :09:35.delivering jobs in a country where unemployment tops 30%. There are
:09:36. > :09:41.more than almost 200 employees affected onshore and almost 100
:09:42. > :09:47.offshore working as crew. It faces challenges. It is a mere minnow
:09:48. > :09:53.compared to overseas facilities. Their isolation also creates
:09:54. > :10:00.problems there is a cost on labour, more costs on freight. The location
:10:01. > :10:07.is far from the market. So we get to include all these costs into the
:10:08. > :10:11.product. This makes it expensive. Even with these challenges, this
:10:12. > :10:20.tuna could be the best economic hope for this country's future. I have
:10:21. > :10:24.been doing World Business Report for 13 years and that is the first time
:10:25. > :10:30.Kirabas has been featured in this show. I thoroughly enjoyed that.
:10:31. > :10:35.Here is the Asian markets. The dollar is higher. Metals are getting
:10:36. > :10:39.more costly. Like nickel and copper. They are at six-year lows. I will
:10:40. > :10:40.see you