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Now for the latest financial news and World Business Report. | :00:00. | :00:16. | |
Iran is open for business - President Rouhani is in Rome on his | :00:17. | :00:20. | |
first official visit to Europe since sanctions were lifted and businesses | :00:21. | :00:23. | |
Apple will post its latest earnings news but will it also reveal sales | :00:24. | :00:33. | |
Also in the programme Sharanjit will join us from Singapore to explain | :00:34. | :00:46. | |
why Ford is pulling out of Japan and Indonesia. | :00:47. | :00:50. | |
It's being described as a European business bonanza - | :00:51. | :00:53. | |
it's the first official state visit of Iran's President to Europe just | :00:54. | :00:56. | |
a week after sanctions were lifted following | :00:57. | :00:59. | |
and European businesses are eager to get in on the tens of billions | :01:00. | :01:08. | |
of dollars worth deals expected to be signed over the next few days. | :01:09. | :01:11. | |
Italian media say agreements worth $18 billion will be done while | :01:12. | :01:14. | |
They include an Italian firm building | :01:15. | :01:22. | |
a 2,000 kilometre pipeline, steel agreements worth more than | :01:23. | :01:24. | |
5-billion dollars and a joint venture called Persian Metallics. | :01:25. | :01:36. | |
Metallics.Later in the week in Paris - President Rouhani's expected to | :01:37. | :01:39. | |
finalise a deal with Airbus to buy 114 new planes - to replace Iran's | :01:40. | :01:42. | |
Over the weekend Iran signed a trade an energy deal with China | :01:43. | :01:46. | |
With me is Dominic Bokor-Ingram from Charlemagne Capital. | :01:47. | :01:58. | |
Thank you for coming in. It sounds like business is booming and in some | :01:59. | :02:05. | |
ways, I am not surprised to hear that given the amount of time | :02:06. | :02:10. | |
companies and countries have had to get ready for this? Effectively, | :02:11. | :02:16. | |
they have had two years to get ready since the start of the nuclear | :02:17. | :02:20. | |
talks. The next 18 months, we will start to see it built. Iran is not | :02:21. | :02:28. | |
suffer from lack of money as a lack of expertise. To provide all the way | :02:29. | :02:35. | |
of doing business to wean contracts. -- a more modern way. | :02:36. | :02:44. | |
Italy, France, but where are the US and the UK and are you understand | :02:45. | :02:50. | |
Germany is on that list as well. Germany never cut the dramatic ties | :02:51. | :02:57. | |
throughout the sanctions. UK is further down in terms of the | :02:58. | :03:00. | |
European pecking order and the US is blast at the moment although, given | :03:01. | :03:06. | |
what I have said about the need for knowledge and expertise, I would | :03:07. | :03:09. | |
expect them to move up the pecking order due to some of their oil and | :03:10. | :03:16. | |
gas exploration expertise. You specialise in investing in Iran. | :03:17. | :03:22. | |
From your point of view, tell us about the potential because the | :03:23. | :03:26. | |
financial markets are happening and very transparent and very modern, | :03:27. | :03:33. | |
are they not? Their stock exchange has been going on since the 1960s, | :03:34. | :03:39. | |
it is well developed with $100 billion of capitalisation. It is | :03:40. | :03:43. | |
very rare these days to find a developed, big stock market has been | :03:44. | :03:50. | |
completely shut to foreigners for a few years. We see a market on a | :03:51. | :03:55. | |
price-earnings ratio of five times, in an economy, given the deals and | :03:56. | :04:01. | |
economic hiccup, could grow six to 8% in the next ten years and that is | :04:02. | :04:07. | |
an opportunity. We could talk for much longer but unfortunately we did | :04:08. | :04:10. | |
not have the time. Thank you for coming in. And, of course, as a | :04:11. | :04:17. | |
deals and agreements are announced we will let you know. | :04:18. | :04:19. | |
Computing giant Apple is set to publish its latest earning figures - | :04:20. | :04:22. | |
and after the Christmas period it's expected the company will declare | :04:23. | :04:24. | |
another record-breaking quarter of success and profits. | :04:25. | :04:26. | |
But despite that, stock has fallen, and investors are worried. | :04:27. | :04:29. | |
Our North America technology reporter Dave Lee finds out. | :04:30. | :04:42. | |
Throughout 2015 any update from Apple was usually fantastic news for | :04:43. | :04:49. | |
it occurs. It was a time of record-breaking profits and rapid | :04:50. | :04:53. | |
expansion but investors may be expecting some uncharacteristically | :04:54. | :04:59. | |
bad news from the bosses at Apple HQ. After blistering 2015, is the | :05:00. | :05:04. | |
company showing some signs of weakness? After a high in May of | :05:05. | :05:11. | |
over $130 a share, for the first time since Dover 2013, it dipped to | :05:12. | :05:17. | |
below $100. There are two key theories. There are a lot of people | :05:18. | :05:23. | |
that look at Apple performance and the Reliance they have on the iPhone | :05:24. | :05:29. | |
when it comes to revenue and they are questioning, going forward, how | :05:30. | :05:32. | |
much that will be a problem for them or not fool 's top Right now, 63% of | :05:33. | :05:41. | |
its entire revenue is from its iPhone. Apple still will not tell us | :05:42. | :05:47. | |
how much it new watch is bringing in. The company's latest results are | :05:48. | :05:54. | |
expected to be good but they may come with a warning that, for the | :05:55. | :06:01. | |
first since its launch, sales of the mighty iPhone are now in decline. | :06:02. | :06:06. | |
The second issue facing Apple is China for the company now makes more | :06:07. | :06:10. | |
money here than in the whole of Europe. With Chinese growth slowing, | :06:11. | :06:15. | |
there is concern that will affect Apple's growth as well. They really | :06:16. | :06:20. | |
bet their house on the China growth opportunity. Apple insist it is not | :06:21. | :06:25. | |
worried. They are still buying gadgets and the company has 30 | :06:26. | :06:31. | |
stores in China with 20 of room for more. 2016 headlines will tell their | :06:32. | :06:37. | |
story. This year will bring the iPhone to seven and an upgraded | :06:38. | :06:45. | |
budget iPhone as well. Murmurs that Apple is creating its car are | :06:46. | :06:50. | |
getting higher and higher. It is what happens behind closed doors but | :06:51. | :06:56. | |
we be determined their fate. While Apple is not invincible, it still | :06:57. | :06:58. | |
very much in control. This time tomorrow we will tell you | :06:59. | :07:10. | |
how Apple did. We will keep an eye on that story. | :07:11. | :07:11. | |
Ford is shutting down all its operations in Japan and Indonesia. | :07:12. | :07:14. | |
Let's go straight to Sharanjit Leyl in our Asia Business Hub | :07:15. | :07:17. | |
Why it is for doing that? They are doing that because essentially they | :07:18. | :07:29. | |
have had poor sales and market conditions in those two markets. The | :07:30. | :07:33. | |
company said it will close all operations in Japan and Indonesia as | :07:34. | :07:38. | |
there was really no reasonable part to profitability in those countries. | :07:39. | :07:46. | |
Gerald motors said it to will pull out of Indonesia. -- and General | :07:47. | :07:51. | |
Motors. If you take a look at the sales Ford made to these two | :07:52. | :07:57. | |
markets, it only accounted for 0.1%. And a 6% of the Indonesian | :07:58. | :08:05. | |
market. I spoke earlier to an analyst who had this to say. Ford | :08:06. | :08:12. | |
never made sense in Japan. Indonesia, you have a strategy, you | :08:13. | :08:20. | |
could argue, is a substantial market at the problem is, the Indonesian | :08:21. | :08:23. | |
government has a policy of insisting on Local Assembly. Ford either had | :08:24. | :08:30. | |
to get in in a very big way, which made no sense. Markets like | :08:31. | :08:39. | |
Indonesia are hard for foreign carmakers. Ford blames the | :08:40. | :08:45. | |
government for protective policies that favour domestic brands over | :08:46. | :08:53. | |
imported cars. The 12 nation transpacific trade agreement in its | :08:54. | :08:58. | |
current form also does not improve Ford's ability to compete there. In | :08:59. | :09:02. | |
terms of the number of people employed in these markets, 300 | :09:03. | :09:09. | |
workers in Japan and 35 people in Indonesia. | :09:10. | :09:12. | |
Deutsche Bank's South Korean unit has been fined $1-point-3 million | :09:13. | :09:15. | |
dollars over its role in the 2010 stock market plunge.A | :09:16. | :09:18. | |
Seoul court found the lender guilty of market | :09:19. | :09:20. | |
manipulation and said it illegally profited after Korea's benchmark | :09:21. | :09:24. | |
Kospi index fell nearly 3% in the final 10 minutes of trading. | :09:25. | :09:29. | |
A Deutsche Bank employee was also sentenced to five years | :09:30. | :09:32. | |
in prison for his role in the so-called flash crash. | :09:33. | :09:44. | |
Let's look at the financial markets very quickly. I'm afraid to say they | :09:45. | :09:51. | |
have succumbed to pessimism around the world. Japan is down. Australia | :09:52. | :09:57. | |
is closed for a public holiday. The yen is still fairly weak. But if you | :09:58. | :10:05. | |
look at what happened in Wall Street, losses across the board. | :10:06. | :10:07. |