Transcripts For BBCNEWS Asia Business Report 20240713

Bbc. Co. Uk news and the news app. Now on bbc news, live to singapore for Asia Business report. As the worlds most Profitable Company announces its share price, saudi arabia is expected to urge opec to make deeper cuts in production. And is there anyone benefiting from the us china trade war . We will be finding out from an investment strategist. Good morning, asia. Hello, world. Its a thursday. Thanks forjoining us for this edition of Asia Business report. Im rico hizon. Lets begin with the worlds most Profitable Company, oil producer saudi aramco. It is announcing the final price for its shares today. Its stock market debut is expected to be the biggest ever. So how did it get here . So how did it get is expected to be the biggest ever. So how did it get here . Lets take a look. Meanwhile, opec countries are getting ready to meet in vienna. The connection saudi arabia is the de fa cto connection saudi arabia is the de facto leader of opec and it wants the organisation and its allies to Keep Oil Prices high ahead of aramco going public. Iasked Keep Oil Prices high ahead of aramco going public. I asked an analyst how much production cuts we are talking about. Given the amount of oil in the world these days, and the prospect of sort of increased reduction out of the us, i think opec and the saudis will probably be happy with just keeping oil prices, you know, about where they are. I think thats what investors are really looking for with the ipo, as well. But with its massive size, jason, how do you think it will stack up against the other state owned Oil Companies . Well, you know, i think nobody thats sort of available to International Investors really ca n com pa re available to International Investors really can compare when it comes to reserves , really can compare when it comes to reserves, position in terms of their ability to manage oil markets and prices. So i think its a really Premium Company amongst its peers of national Oil Companies. It is a Premium Company, as you say, but is there a risk politically . Because you have issues such as attacks on its facilities in september, the khashoggi killing, plus climate change. Could that takes some of the lustre of aramco . I think these other things that investors have to weigh up. I think the attacks on the oilfacilities weigh up. I think the attacks on the Oil Facilities raise the for some people that some of their facilities may be vulnerable to attack. And the other big unknown i think is the us sort of continuing to grow Oil Production raise the flag. So i think opec is an organisation has been losing market share globally. Soi been losing market share globally. So i think those are definitely risks that investors are going to have to keep in mind. Briefly, could it be attractive because you also have a slowing Global Economy . And it isa have a slowing Global Economy . And it is a pretty traditional company, and its not like the exciting Tech Companies that are listing in the worlds exchanges. You know, that is an issue that i think a lot of investors way up. I think the flipside of that, though, is that as long as people are using gasoline for automobiles and for bunkers and all the other things you use hydrocarbons, aramco is going to be a leading company. So i think it is. And it is the most Profitable Company in the world. Jason feer in houston. Lets talk about the company in the world. Jason feer in houston. Lets talk about the us china trade war, because there are, believe it or not, some companies benefiting from this dispute, the la kes benefiting from this dispute, the lakes of india and taiwan to name a few. That is because manufacturers are looking to emerging markets to diversify outside the mainland. That means countries once dominated by asias biggest economy are now changing. I asked our correspondent if this benefit will be short lived. I think these markets will benefit in the medium term, notjust the short term. It takes time to build a new supply chain, and thailand is already very progressive because of the investments it has made for the japanese auto industry. India has cut its tax rates for new companies down to i7 . That makes it very competitive. Vietnam is really growing market share in the supply chain going forward. What if the us and china resolve their differences before 15 december . Trump said a deal is imminent and potentially may be all of these tariffs will just deal is imminent and potentially may be all of these tariffs willjust go away. Will these Companies Lose their attractiveness as a result . We dont think so. We think the trade tension has changed the supply chain for a considerable period, and we wont have so much production in one market. So there will be different supply chains built up. It might be a bit more costly, but it is less risky. So we would see the trend continuing to develop supply chains in other countries. Sean taylor, the investment strategist. While the trade war with the us continues, china is still pushing for a huge trade deal that it leads with other countries, and it is called the regional comprehensive economic partnership, or rcep. If this deal goes through it could lead to a more than 90 tariff cut on goods traded within this grouping. But last month india chose to opt out of the deal. Japan now says it wont sign this arrangement if india doesnt rejoin the packed stop earlier i asked our corresponded earlier i asked our correspondent if Southeast Asia will still benefit. We looked at other companies, and even asean itself, and based on the news we see, the door is still open for india to come in. So lets not continue to wait and pull back the rcep, but why dont we proceed. And because we shouldnt stop because of india pulling back. And briefly, is asean really so dependent on agriculture . Well, most of the countries in asean do depend on agriculture, but we also have countries like singapore which have a unique opportunity, for example in innovation and r d. Teresa lo. Lets catch up without him in india. It is one of the Worlds Largest online markets but doesnt have laws to protect customers data. Now it is one step closer to having a Legal Framework for a new set of regulations. More, lets cross to mumbai and we are joined by my colleague and Business Reporter monica miller. Some stories on the news highlighting this problem. What can you tell us . Well, just last month customers were incredibly angry and took it out on social media at a popular cafe chain here in india. Just as a test, they have launched some facial Recognition Technology at a few of their stores by taking pictures as pa rt their stores by taking pictures as part of a loyalty programme. However, customers were saying that they werent given the opportunity to opt in or opt out. Now, the issue is there is nothing wrong with that here in india. As it stands, there are no Privacy Protection laws on the books. However, thats about to change. There was a bill that was created in 2018. He finally got passed out of committee and it is expected to head to parliament next, probably by next year, early next year. Now, youve got to think about. India is considered one of the worlds biggest untapped digital markets. Its got a very young population, in a population that is 1. 3 billion people, and they have a huge appetite for consumption and using data, which also makes it incredibly ripe to farm out this information. So india is trying to get on board and to protect its customers. However, a lot of critics of this say it is too broad, it doesnt go too far. But if it does go into places they expect, it will be up to the companies to actually implement this technology, and if they dont, they are going to face hefty fines. Thank you so much for that update on Customer Data privacy in india. Joining us that update on Customer Data privacy in india. Joining us from mumbai, monica miller. In other news, france is bracing for an International Strike across public and private sectors today. It is against president macrons proposed reform of the countrys pension system. Transportation is expected to come toa transportation is expected to come to a standstill while many schools will be shut down. Lets have a quick look now at the updated asia pacific markets and how they are faring at this hour. The nikkei 225 is up to 0. 9 , together with the hang seng index of hong kong, which is open for trade. The all ordinaries index way past 1 at 1. 2 higher. This is after wall street stocks rose overnight after President Trump said trade talks with china were going very well and a news report suggested key differences were being ironed out. Thank you so much for investing your time with us. I am rico hizon. Sport todayis time with us. I am rico hizon. Sport today is coming up next. This is bbc news. The top stories this hour the impeachment inquiry against us President Donald Trump enters a new phase, as us constitutional experts argue whether there are grounds to remove him from office. Nato has celebrated the alliances 70th anniversary in london, but divisions have emerged after some of the leaders were caught gossiping about the us president. Official figures show that more than half of people aged 16 or older in england gambled at some point during the last year. It is the first time gambling data has been highlighted by the nhs digital report, which is based on a poll of more than 8,000 adults and 2,000 children. Health bosses have expressed concern that aggressive Online Marketing makes it easier for people to become addicted. Judith moritz reports. I spent over £25,000 on gambling related products. Nathan barnes laid his last bet 582 days ago. He can be their precise because he counts every day without gambling as another day in recovery. Gambling took over nathans life. He lost thousands before deciding to get clean. What would you bet on . Absolutely everything. Everything that moved, everything that gave me that rush. Its kind of like i needed a fix. And whether it was, for example, croatian football third league, about 2 00am in the morning or american football, anything like that anything. For the first time, the nhs has compiled data on gambling as part of its survey on health in england. It shows that more than half of all adults have gambled in the last year. That includes everything from a one off flutter on the grand national to more extensive betting. A lot of people might describe themselves as recreational gamblers, where its not adversely affecting their life. But those harms can of course increase. The current figures are around 2 Million People are at risk of serious gambling problems, and we need to respond with a range of different types of intervention to prevent harm. The longer youre there, the more money youre going to spend. There is particular concern about the growth of online gambling, and warnings that it can be a path to addiction. Were all drawn to things that look attractive, but also the more subtle and nuanced, clever part of this is quite often its tailor made, so what you might say and what i might see are totally different. So if your thing is horse racing, and thats known about you from your search history, that is the presentation youre going to get, because its known to be more attractive. Nathan is now using his story to help others avoid addiction, but he says he can never take his recovery for granted. Hello, im Chetan Pathak and this is sport today, live from the bbc sport centre. Coming up on the programme seven goals at anfield and another derby to remember for divock origi, as liverpool beat everton in the english premier league. Back at old trafford, but Jose Mourinhos tottenham are beaten by Manchester United. And giving it the eyes, a final face off between ruiz and joshua, ahead of their world heavyweight championship rematch in saudi. Welcome to the programme, thanks forjoining us. For the moment, theres no stopping liverpool in the english premier league, its14 wins out of 15 now as they beat their neighbours everton 5 2 in a thrilling Merseyside Derby. Divock origi scored two of the goals with liverpool ensuring they stay 8 points ahead of leicester in second and 11 ahead of last seasons champions manchester city. John murray was watching at anfield a terrible scoreline, the first time they have hit five and a Merseyside Derby since 1982. Everton couldnt cope with liverpools movement as Manchester United created the first two goals and starting for the first time this season, while Michael Keenan grabbed one back for the