Blocked by the Senate Republicans and we have more reaction to this. Thats all from me now. Stay with bbc world news. As india struggles with a lack of cash, there is plenty at stake ahead of todays budget. And selling more iphones, but making less profit we break down the latest results from apple. Good morning, asia. Hello, world. Iam apple. Good morning, asia. Hello, world. I am glad you canjoin us for a Asia Business report. We start with india and in a few hours the Finance Minister will unveil his budget at a trying time for the economy with less than three months ago the government ban of 90 of bank notes in circulation. As a result of gdp growth might dip below 7 . We have this report from samir hashmi. In many ways indias 2017 budget is a gamble, the first since withdrawing two of the most widely used routine. A lack of cash in circulation hurt people and businesses. So, what bets will Narendra Modi put in place to put the momentum back into indias the economy . Income tax could well be cut, which would put more money in the hands of customers who in turn will spend more money. But there is a risk it could incur inflation. Investing in roads, railways and infrastructure, especially in rural areas, would createjobs. It is another way to put money into the economy. And while the inflation risk remains, these policies wouldnt hurt the governments popularity. Getting Foreign Investment into india is another way the economy can keep growing strongly. But it is still ranked as one of the hardest places in the world to do business. And despite measures to reduce regulation, the situation hasnt improved much. The easier it becomes to trade and in, the more money it will attract, so watch out for the details the budget to help it happened. Indias government might have to keep some cards close to its chest, at least for now. After the pain of a cash crunch, it needs some of its big bets to pay the returns. And, for the latest on the budget, we are joined from delhi by our correspondent, and will this budget try to ease the pain from the cash crunch . All right. It looks like we are experiencing some communication problems. Right in front of parliament, shilpa, where, in a few hours the budget will be announced by the Finance Minister. Well, ten yea rs by the Finance Minister. Well, Ten Years After the iphone took the world by storm, is apple losing its shine . The Company Released latest results and iphone sales were better than expected. But forecasting for the Current Quarter is below estimate and revenues in china are down 12 from last year. I asked our North America reported dave lee e of 2016 was a good year for apple. For the first time we saw the iphone declining as we saw any times and talked about on the programme dave lee. There were three quarters of decline, which relies heavily on iphone success. This quarter they will be pleased to report that has been a return to growth for the iphone and the company, but, yes, as you mentioned, they are forecasting what is coming up and it is quite downbeat, basically saying they expect many people to be holding off upgrading their iphone until the new iphone comes out later this year. The significance of course is it is the 10th anniversary year of the iphone and many fans expect something quite impressive from apple when they bring out the anniversary phone, which could have anniversary phone, which could have an impact on sales. So, dave, is apple relying too much on the iphone . What about other services . Guess, for a period of time it has been a huge moneymaker, two thirds come from the iphone yes. There are other things coming up, so from Services Like the app store, paintings, apple pay, those services, that was up again year on year pay things. And the Success Pokemon Go and super mario, which i know you are a fan of. Those games really drove income in the app store and helped the service is part of the business to grow, which is important for apple. Why a decline in sales in the Chinese Market . Well, apple, like several other us tech companies, are struggling to grow in china as well as first hoped. There was a time over a year ago when china was a huge Growing Market for apple. They were Opening Stores at a really quick rate. They have not been able to capitalise. They have blamed currency issues on why they are not making as much money but, yes, it seems that apple is struggling to continue in china, and they were relying on that country to help continue with growth, but they are having trouble. And that was dave lee in silicon valley. Us President Trump criticise china andjapan valley. Us President Trump criticise china and japan for playing the money market and devaluing the currency for years. He was meeting with executives of Pharmaceutical Companies when he made the statement. We look at if he has labelled china as a currency manipulator, here is what he has had to say. I have seen it over the yea rs to say. I have seen it over the years but a lot of companies have moved out and dont make drugs in our country any more, a lot has to do with regulation and the fact other countries take advantage of us with their money and their money supply. And devaluation. Because we dont do anything like that. Our country has been run so badly we know nothing about devaluation. Every other country lives on devaluation. Look at what china is doing. Look at whatjapan has done over the years. They play the money market, they play the Devaluation Market, they play the Devaluation Market and we sit like a bunch of dummies. So. You have to get your Companies Back here. Well, it is february that it is a Trading Month coming up injanuary, with a lot of other and downs, the us president ial transitions or the dow on Wall Street Rally passed the 20,000 mark, but it fizzled out over worries over mr trumps policies. In australia the Oddities Index closed out the month in the red. It was also a similar story in month in the red. It was also a similarStory Injapan month in the red. It was also a similar story in japan with month in the red. It was also a similar Story Injapan with the nikkei 245 similar Story Injapan with the nikkei 2115 finishing lower. And the Shanghai Composite Index was up almost 2 but we have to point out that markets had a shorter session with the Lunar New Year holidays. I asked david from the motley four how he described the month of january. Asked david from the motley four how he described the month ofjanuarylj think the month ofjanuary has been a fairly cautious month. What we saw towards the end of last year was the market was giving donald trump the benefit of the doubt, saying he could make America Great again. What has happened is they dont want donald trump to make america wait again. They have said, show us what you are going to do. If you can do it, then of course the market could rally higher. If he doesnt, we could actually see most of the gains evaporate. So is this a sign, then, for asian investors to stay on the sidelines . I dont think so. I think you need to look at valuation. Look at markets and say, are they keep more expensive . If they are cheap andi more expensive . If they are cheap and i think you should go and buy. There is an old saying that as january goes, so goes the rest of the year. Personally, i dont buy that. If it is cheap, buy it. So, which sectors in your view do you favour and which ones are under threat . 0k, favour and which ones are under threat . Ok, the ones i like is anything to do with banks and i will tell you why, rico, it is no big secret the Federal Reserve will increase Interest Rates this year, it could be two, three or four times this year. If they go up, banks love it, they like Interest Rate increases because it is an easy way to make money. Theyjust charge more interest. And then interest margin is going to widen and they will make a lot of money that way. So i like those. And what dont you like . I am cautious about anything to do with commodities. I have a feeling if Interest Rate increase than the us dollar might strengthen. A strong us dollar might strengthen. A strong us dollar might strengthen. A strong us dollar might not do well for anything to do with commodities. Commodity players i think will find it quite tough this year and less of course we have economic growth. What is the unknown for investors in 2017, is it donald trump . |j is the unknown for investors in 2017, is it donald trump . I think it is the donald, yes, we dont know what the donald will do. He is very volatile, unpredictable, as we saw in the first month, and he will continue to be very, very unpredictable, and keep everyone on their toes, rico. Lets look at the first trading day of february and currently, as you can see, it is lacklustre after wall street closed lower overnight. In japan, the nikkei is Trending Downjust slightly. Nintendo shares lower 4 after cutting the full year profit forecast on tuesday. Thank you so much for investing your time with us. Much for investing your time with us. Im rico hizon. Sport today is coming up next. You are watching bbc news. Our 0ur Top Stories neil gorsuch will fill the vacant seat on the us Supreme Court. The 49 year old federal Appeals Courtjudge is not expected to call into question high profile rulings on abortion and gay marriage. The nomination will have to be confirmed by the senate, where democrats have threatened to block any candidate seen as too conservative. A legal battle over the rights of parents to take their children on term time holidays reaches the Supreme Court today. Five judges will hear an appeal by a council which fined a father, jon platt, for taking his daughter to florida without her schools permission. Mr platt challenged his fine in the high court, and won. 0ur Education correspondent Gillian Hargreaves reports. Jon clarke fighting in the highest court of the united kingdom. Jon clarke fighting in the highest court of the United Kingdomm jon clarke fighting in the highest court of the united kingdom. It is a shocking situation that if i lose today any unauthorised absence of any child in any school in england, that a criminal offence will be committed. Warm seas, soft sand, trying to book a family break trying terbeekarfazzsilybreak. ,,. ,. 3 71 inggrring ~ trying terbeeieafazzsilybreak. W w w. W 2 insurring an trying terbeeieafazzsilybreak. W w w. W 2 insurring an in companies as . 553,377. A the School Holidays is a big challenge for most families. They shouldnt take weeks and weeks out of school but i dont think one family holiday per year is going to affect a childs education. Leigh It Isa Affect a childs education. Leigh it is a little bit too inflexible of a system i guess because there can be lots of mitigating sort of family circumstances. If it is really fair that you get to take this time. The government agrees even a few days away from school can have a big impact on exam results. But Teaching Unions think fining parents is on the other. It is important children attend school, it is important heads have the responsibility to make discretion and it is important schools dont get into conflict with pa rents over schools dont get into conflict with parents over the issue of fining. Better to engage and educate parents rather than conflict with them. This Morning Thejudges were rather than conflict with them. This morning the judges were told the case rests on whether it is right to fine a parent for taking their child out of school if that people usually attends school readily. Who doesnt dream ofa attends school readily. Who doesnt dream of a warm summers to {f the to
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