Now on bbc news all the latest Business News live from singapore. Will australias miracle economy keep on winning . We look ahead. In his first tv interview since taking over as ceo, the boss of indiasjet airways talks about what its new European Alliance means. Good morning, asia. Hello, world. This is the start of a brand new week. We kick up the final month of 2017 and here is the calendar for the week ahead. Lots of rates decisions with Australias Central Bank deciding on the cost of borrowing on tuesday, currently at 1. 5 . This will be followed by another key meeting from indias reserve bank on wednesday. Also, finding out more about australias Economic Performance in the middle of the week and rounding off, we have trade data from the worlds second largest economy on the eighth of december. Earlier, i spoke with economist Peter Mcmahon and asked if rates will remain the same. and asked if rates will remain the same. Peter mcguire. And asked if rates will remain the same. Peter mcguire. Record lows to continue because we have seen wage growth decline. We are not eat not saying it is a robust. House prices on the east coast. The 1. 5 will remain. But the australian economy continues to grow. Yes, it does and we look at that inflation number around the 3 annualised. He saw the quarter on quarter about 0. 7 for the Third Quarter but overall, very high Household Debt because, quite simply, at house pricing. If you raise Interest Rates, that will ta ke you raise Interest Rates, that will take more out of the wallet and the purse which will constrain growth and that is the great challenge the reserve bank faces. Indias Central Bank Meeting on Monetary Policy, how are they likely to go . They will keep Interest Rates where they are. You have the gdp running at 7 . They have got a couple of issues over there, the de monetisation and naturally their introduction of a gst so very, very large issues that have come to the play over the last 9 12 have come to the play over the last 9 12 months and moving forward, they will keep rates where they are. You might even see a rate rise sometime in 2018 but the jury is out at the moment. They will probably stay where they are. The outlook is for australia and india to keep Monetary Policy on old but south korea raised the benchmark interest rate. Could this put pressure on regional Central Banks if the Federal Reserve tightens again this december . Yes, it could and i take that on board. That will underpin the us dollars strength, probably be better for the likes of australia and india though the indian rupee, i was there last week, it seems to be range bound compared to the australian dollar. I take all those components into play and at present, i would have to say that both Central Banks will hold. South korea isa Central Banks will hold. South korea is a little bit different, of course. Chinas trade report. The trade imbalance between china and the us. They could well do. Overall, a attraction. They are receptive to talks. Growth numbers in turn, a roundabout that 7. 2 number. Overall, the Trump Administration is feeling as though it is getting some movement and that could be a good sign for movement and that could be a good signfor him. Movement and that could be a good sign for him. The white house says it would be willing to accept a slightly higher Corporate Tax rate if it means getting a final bill through congress. The Senate Versions of the bill sets the rate at 20 but the right the white house budget chief said the final figure could be 22 once a final bill goes through. So what effect mighta 20 bill goes through. So what effect might a 20 Corporate Tax rate have . Im joined by timothy mcdonald. How does it stack up against the asian tax rates . Its a bit higher and the difference between 20 and 22 doesnt sound like all that much. If you went to a restaurant, 2 would not cover your appetisers but when you have billions on your balance sheets, it starts to be a bit different. It still would be at a higher rate than quite a few asian economies including here in singapore. Taiwan is about 17 . 16. 5 . Some of these countries have used low taxes to promote economic growth. That is what they are hoping to do with the us. The question is where that money goes in the companies have a bit of extra money. Do they invested into long term projects or return it to shareholders . Thats something well have to watch and wait and see. There is supposed to be this, donald trump is host hoping there will bea trump is host hoping there will be a rush of money back into the us economy. Oxfam estimates there is Something Like 1. 3 trillion of money from major us corporations stashed away overseas and how much of that returns home is really anybodys guess, considering the whole region the whole reason its over in the first place, they pay very tax very little tax. Its over in the first place, they pay very tax very little tax. On the campaign trail, donald trump was pushing for more like 15 . Thank you so much for the update, timothy mcdonald. In other Business News, british Prime Minister theresa may is due to travel to brussels on monday for talks with European Commission president jean claude juncker. The focus has so far been on Citizens Rights but also the amount of money the uk will pay. The eu will talk about trade when sufficient progress has been made on these subjects and its due to decide whether this happens at a summit on the 14th and 15th of december. A commercial deal involving jet airways aimed at improving collectivity with europe and this is happening while india is set to become the third biggest aviation market. We sat down with the ceo of jet aviation market. We sat down with the ceo ofjet airways, vinay dube and asked what the deal brings to this carrier. It allows us to offer 106 or more destinations in europe, access to 200 in north america and as consumers start leading towards a combination of debt and klm, who knows. More passengers are flying in india than they were before. We put in orderfor 75 aircraft. India than they were before. We put in order for 75 aircraft. We will buy an extra 75 narrowbody aircraft. Some of them will be growth. Overall, we hope to grow the category between eight and 10 over the next five years. Jet airways performance over the last two quarters has actually gone down. Why is it not able to capitalise on this opportunity and make more money . We have put out nine profitable quarters. If you look at the last two quarters in particular, certainly fuel has gone up, despite an increase in inflation. Weve been able to reduce our unit costs. We believe this trend will continue over the course of the next 2. 5 yea rs, over the course of the next 2. 5 years, putting us in a position to be able to capitalise on demand because you talk to mount talked about demand. And my view is that air travel demand is really going to grow over the next 20 years. The current aviation rules allow foreign carriers to invest up to 49 in domestic carriers. But there is it. There are limitations on ownership and Foreign Ownership in particular is not unique to india. In most other western countries, certainly the far east, the restrictions are even more. What you are describing is not something i look at as an immediate reaction. The Indian Government is planning to privatise air india and jet airways has been interested in buying a stake. Its too early for us to say but something that is even more important, no matter how this plays out, when you take out a subsidised player from any market, whether it is aviation or steel or manufacturing or retail, its good, in my view for consumers. That is what we look for. Vinay dube, the ceo ofjet airways there are. Let us look at the markets. Asia is in negative territory. We also have the all ordinaries index a fraction lower. This is after us equities finished the week on a tumultuous note. Thank you so much for investing your time at others. Sport todayis investing your time at others. Sport today is coming up next. Coventry, paisley, stoke, sunderland and swansea, are all competing for the title of uk city of culture 2021, with the winner to be announced this week. The year long celebration of arts, music and culture, has boosted local economies, proving a huge success for the current holder, hull. In the first of five profiles of the contenders, Colleen Harris takes a look at the city of coventry. Music ghost town by the specials. This is a city that has embraced its reputation for peace and reconciliation. Transformed by post war immigration, coventrys culture has been shaped by its history. The cathedral symbolises its resilience. What stands today in my home city are the ruins from a campaign of bombing during the blitz. Archive the martyred city of coventry. It was also the heart of the british car industry. Its decline turned it into a ghost town. Yeah, most of the songs written down here, off the first album. The song became an anthem for a generation, written by the specials. The coventry band captured racial tensions of the early 80s through their music. Walking around in coventry at the time, it was horrendous. And you couldnt walk down the street without being attacked by national front. So, when the specials got together, that was to get black and whites united. Coventry is hoping to breathe new life into its rich multicultural and industrial past, and its bid to win the city of culture 2021 puts young people at the heart of its focus. Theres so many exciting things to see and do, and people just dont know. So we need to do a lot of work, as part of the city of culture bid, as to what our city has two offer. Helping to move the city forward is louis lewinson, a choreographer, taking his work from coventry to young people around the world. He represents a new generation looking for hope, in a city trying to shake off its post war image. Its more than important, its actually crucial that it wins, because this is like the biggest thing thats ever happened in coventry. Its bringing a lot of hope and excitement to the city, which it doesnt tend to have, a better with a lot of doubt. This is the one time for the underdog to come up and rise and show what we really have. Winning the city of culture can help transform a citys fortunes. The people of coventry hope the citys Rich Heritage can secure its future. Colleen harris, bbc news, coventry. Good luck to all the cities competing for that uk city of culture 2021 and we will be profiled all other contenders. Whats more is a lwa ys all other contenders. Whats more is always on the website. Hello. This is sport today, live from the bbc sport centre. Coming up on this programme tiger woods shows some of his old form after completing a full tournament at the event he hosted in the bahamas. Manchester city come from a goal down to win a record equalling 13th premier league match in a row. And at the 15th attempt, benevento record their first ever serie a point thanks to their goalkeeper. Hello, and welcome to the programme. We start with the news that american, ricky fowler, has won golfs hero world challenge in the bahamas by four shots finishing on 18 under. He carded a destructive final round of 11 under sweeping away all others setting a new course and tournament record in what was also the lowest round of his career. Next best was his compatriot, charley hoffman, on 1a under, while tiger woods who hosted the event in his latest comeback from injury fired a final round of four under to finish tied for ninth, ten shots behind fowler. Paul frostick was watching. The lead up to this event in the bahamas was dominated by the return of tiger woods. This would be his first completed tournament in a year. No one could
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