tv Asia Business Report BBC News March 13, 2017 1:30am-1:46am GMT
park geun—hye says the truth will emerge days after she was removed from office. miss park left the presidential palace to be greeted by supporters as she arrived at her private home in seoul. the ousted president has now lost presidential immunity and could face criminal charges. iraqi forces have retaken a third of western mosul, the largest city still under the control of the islamic state group. but fierce fighting is threatening the city's civilian population. and this video is trending on bbc.com. members of pakistan's small hindu community have been celebrating holi, the festival of colours, one of the most fun—filled of hindu festivals. the festival is held to welcome spring. that's all from me now. stay with bbc world news. and the top story here in the uk: david davis has urged mps to back the brexit bill and insisted the uk will be prepared if it has to leave
the eu with no deal in place. now on bbc news all the latest business news live from singapore. with the president forced out of office, what challenges lie ahead for the south korean economy? and how the secrets of how to succeed in business could lie in a bit of horseplay. hello and welcome to this monday edition of asia business report, i'm sharanjit leyl. edition of asia business report, i'm shara njit leyl. within edition of asia business report, i'm sharanjit leyl. within the next two months south korea will have a new president and that president will have a raft of economic challenges to deal with, the worsening of relations with china over a missile defence system is a big worry and what will candidates for the top job have to say about giant conglomerates like samsung, so tied up conglomerates like samsung, so tied up in the corruption scandal that brought down park geun—hye? the
disgraced leader left the presidential house on sunday, two days after a court dismissed her of a corruption scandal. what will the next couple of months looked like for south korea politically and economically? here's the view our a nalyst. there's a lot of moving parts at the moment, the candidates, the leading candidates for the election, they have said they will hold that by the ninth of may, that's a positive outcome straightaway from the electoral commission. the leading candidate, mr moon, he is very much a reformer, so he is very much about appeasing north korea and also actually taking a close look between these conglomerates and their cosy wallacia ships with the government. he's quite a reformist. so a role i guess you could say it's positive for south korea in the bigger picture. in terms of the korean won, where is it headed, there are concerns they might be labelled a currency manipulator by the
americans. this is the thing, nobody is pricing into asia this year so far, i think that the secretary would be ready by early april with regards to labelling or not labelling countries currency manipulators. if china is in that list then south korea will either be number two or three on the list in all honesty. this is something that could impact on the won later on in the year. definitely the trajectory of us interest rates with regards to the federal reserve will also have its impact as well. i would expect to see the won gradually weakening over the next couple of months. very briefly, you talk about the potential front runners, the likes of mr moon potential front runners, the likes of mrmoon and potential front runners, the likes of mr moon and others, how will that impact the cosy relationship we are seeing with the south korean government and the huge conglomerates? the head of samsung is actually on trial now, being involved with the ex—president park with corruption charges. that will lay down a marker for the behaviour
going forward but definitely he is a very strong reform agenda person with regards to relations with the companies. the proof is in the putting, it could be easier said than done. jeffrey hayley. in other business news, king salman of saudi arabia has arrived in tokyo at the start of the first visit to japan by a saudi monarch for nearly 50 years. japan hopes to use the visit to broaden its relations with saudi arabia and help the kingdom's effort to diversify its heavily oil dependent economy. banking giant hsbc has appointed mark tucker, the current ceo of asian insurer aia is group chairman. he will take over on the first of october, succeeding douglas flint, who had been in the role since 2010. he was there for seven yea rs since 2010. he was there for seven years and he oversaw the insurer's expansion in asia. hsbc is the european biggest bank but the bulk of profits are generated in asia.
iceland will lift capital controls on its citizens' businesses and pensions funds from tuesday. capital controls like restrictions on money flowing out were imposed after iceland's three biggest banks collapsed in 2008. the government 110w collapsed in 2008. the government now thinks the economy has recovered sufficiently to end those controls. for a look ahead at what's coming up over the next two days, we will start with toshiba and they are due to publish their delayed earnings results from april to december on tuesday. this was originallyjune in february. next up we have the us fed they are exacted to make their decision on interest rates on wednesday, and that will be thursday morning in asia with the prospects ofa morning in asia with the prospects of a rate hike looking fairly likely. we have the us secretary of state, rex tillerson, he is heading to asia this week and he will be viewing traditional airlines in tokyo and seoul before going on to beijing. and finally, china will take centre stage on wednesday when the national
people's congress comes to a close. for a closer look at the week ahead, earlier i spoke with paul from a bank and first asked what he was expecting. expectations have shifted a little bit to the chance they will delay again. if they miss this earnings reporting released they could go another big business days. it looks like the most likely scenario, they have a roughly $6 billion hole to fill with westinghouse. the problem is if they go chapter 11 with westinghouse it opens up other concerns with respect to loan guarantees in the us, performance guarantees in the us, performance guarantees with respect to some of their plants. chapter 11 doesn't solve as many problems as you might think. there is a likelihood they will delay. moving on us interest rates, will they go up as everyone thinks? market has given them 100% of thinks? market has given them 10096 ofa thinks? market has given them 10096 of a chance, it is as closely priced in as i've seen for a long time. how much? they will go .25 basis points,
they won't want to go more than that. certainly the federal reserve have a delicate balancing act with rogue guards to the currency, they don't watch it as far as their mandate but given what's going on around the world they have to be aware of how currencies will affect things, especially in the region, with china. -- with regards to. rex tillerson in asia, he is headed to china but then he is also going to visit traditional airlines in japan and south korea, what is he expecting? that's a good question, we haven't heard much from the state department since tillerson took over. if you're injapan you expect a reconfirmation of the security arrangement, in south korea you expect more than that in terms of dealing with north korea and in china i'm hoping at least we don't get something from the currency side, which we could have with manu chimp at the g20. there's things with the security in the region but also trade. it's a blank slate
because we don't see tillerson in many press conferences. china and the closing of the people's congress, any surprises? the words that come out to me our stability and flexibility. paul burt and. it may sound like forcing around but some experts say these animals can teach us a thing oi’ these animals can teach us a thing or two about leading people. —— paul bertrand. andrew froggatt teaches key leaders ship skills to chief executives, coaches and managers by showing them the right way to deal with horses. the horse whisperer turned management trailer told us how. —— leadership. we set ourselves up as the boss, i'm
the leader of the horse, the horses behind me and it is a matter of consistency. if i say once to the horse to come close and the next to stay back, some people are confused, he is going to be confused if i say that. until it becomes more of a habit it is important to be pretty firm. idoa lot of i do a lot of problem—solving, a lot of racehorses, starting gates and things like that, big problems. one of the things we do is focus on those little things, personal space, boundaries, what they are allowed to do and what they can't do and if those things are clear than a lot of the bigger issues don't develop. all of the biggest people, sport people, business people, they do the little things really well. a lot of people these days get caught up in the bigger picture and where they're
heading and the little things get lost and if the little things get out of hand then you're never going to get to the big pictures. we used to have 25 horses on the go, often we would only get 15 but if 15 we re often we would only get 15 but if 15 were happy and ten weren't then that affects the environment and it is evident in big companies, the boss of 250 might know 50 and the other people don't get much of a look in. it's little things going around the office, hello, how are you, even for a minute, making people feel a part of things, it starts to bring people together. praise is really big. i praise more than most people, i want to really build that strong wallacia ship, i wa nt build that strong wallacia ship, i want people comfortable and want to work with me so i tend to praise all the time and when they have a bad day i tend to ignore them —— strong relationship. we talk a lot about that in office situations. do we praise enough? some might be lacking
in confidence, a lot more praise needed to build them up and get them to try and do things other people won't do. others won't need enough but it eventually comes down to knowing who your trying to lead. that was horse whisperer andrew froggatt with the falco in the starring role. looking at the markets, we can see the nick caitlin is currently flat, scaling up a bit, we saw a stronger yen. “— is currently flat, scaling up a bit, we saw a stronger yen. —— the nikkei. hang seng shares up 1% on the news of the new ceo. that's it, thanks for watching. you're watching bbc news. the top stories this hour: the ousted former president of south korea, park geun—hye, has finally left her official residence saying the truth will emerge in time. iraqi forces have made more gains in west mosul but fierce fighting is threatening the city's civilian population. rail workers in three parts of the country go on strike later,
as the dispute that's caused months of chaos for southern rail commuters spreads to the north of england. our correspondent danni hewson sent this report from liverpool. it may have been business as usual today, but here in liverpool and right across the north, commuters are bracing themselves for chaos. from midnight, rail workers with the rmt union will begin a 2k hour strike, affecting thousands of passengers. i don't know how i am going to get home. we'lljust have to see what we can sort out tomorrow. it'll be packed. a lot of people will be stranded and won't know where to go. especially if you are not from the area. the companies affected are northern, the uk's second largest operator which serves passengers across the north, including leeds, manchester, sheffield, newcastle and liverpool. only 40% of their services will run. merseyrail, which serves mainly merseyside, will run trains every half an hour, rather than every 15 minutes, and southern, which will still round 90% of its services. the row was triggered
by proposed changes to the role of the onboard guard, changes the union says riskjobs and safety. we believe that services operated on a driver only, driver controlled operation are fundamentally less safe, and every train in the uk should retain a second safety critical person onboard. efforts to resolve the dispute in recent weeks have broken down. operators say they need to modernise and safety won't be compromised. we put safety at the heart of everything we do. the independent rail regulator has the indicated this is as safe as conductor operation of the doors. this isn't about who opens and closes the doors, this is about giving customers what they want. for now, both sides are at an impasse and few expect tomorrow's disruption will be the last. for commuters, the focus is is now on tomorrow's rush hour, and how if it all they will make their journey to work.
danni hewson, bbc news, liverpool. the intelligence services are to provide political parties with advice on protecting themselves against russian hackers. the advice will come from experts at gchq's national cyber security centre. time now for all the sports news in sport today. hello. this is sport today, live from the bbc sport centre. coming up on this programme: all change in spain as real madrid regain top spot after barcelona slip up. liverpool come from behind to beat burnley 2—1 in the english premier league. and rafael nadal kicks
off his indian wells campaign with a straight sets win. hello, and welcome to the programme. we start with football in spain, where real madrid have regained top spot in the primera division, after a 2—1win over real betis on sunday. betis took the lead in madrid after what can only be described as a calamitous own goal from goalkeeper keylor navas. cristiano ronaldo got his 19th league goal of the season just before the break with a well directed header. and after scoring against napoli in the champions league on tuesday, sergio ramos once again got his name on the scoresheet with an 81st minute winner. after their incredible comeback in the champions league mid—week, barcelona looked like a different side against deportivo. luis enrique made five changes from the team who beat psg 6—1. barcelona went behind whenjoselu scored late in the first—half for the primera division strugglers.