a decade of weak growth — the international monetary fund sounds the alarm, as central banks consider when to start cutting rates. plus... vietnam's corruption crackdown why a property tycoon has been sentenced to death. hello and welcome to asia business report. i'm steve lai. our top story today... the head of the international monetary fund has warned the global economy is set for a "sluggish and disappointing" decade, as many countries remain challenged by inflation and debt. but, kristalina georgieva also said central banks should resist the pressure to cut rates too early. the bbc�*s north america business correspondent michelle fleury has more. with interest rates in many richer countries now at their highest levels in years, the head of the imf, kristalina georgieva, urged caution when it comes to cutting interest rates.

where necessary, policymakers must resist calls for premature interest rate cuts. her comments come a day after us data showed a surprise increase in consumer inflation. but she also warned that waiting too long could chill economic activity, saying debt is up and the global economy faced a decade of weak growth, which she labelled the tepid �*20s. we are indeed heading for the tepid �*20s. a sluggish and disappointing decade. mr georgieva's comments come as the international monetary fund and its fellow lending agency, the world bank, prepares to host their spring meeting next week in washington, where finance ministers, central bankers and policymakers from around the world will discuss the global economy's most pressing issues. the annual gathering takes place as several conflicts threaten global financial stability, including russia's invasion of ukraine and the war between hamas

and israel in gaza. staying with the us, where large banks will kick off their first quarter earnings season later today. wall street giantjp morganchase is among them. but its ceo jamie dimon dimmed hopes for interest rate cuts by the us federal reserve earlier this week, citing strong economic growth among other reasons. tim waterer, chief market analyst at kcm trade gave us a sense of what to expect. i think we'll see solid numbers for 01, but there is this spectre of interest rates remaining higherfor longer and that could certainly cut into corporate growth later in the year. and i think that's whatjamie diamond is certainly alluding to there. so i think the outlook for the corporates that will probably sway sentiment as much as the 01 earnings themselves. yes, the us interest rates, inflation do not seem to be heading lower as many had hoped. how is this affecting the broader global economy and markets? that's right. the cpi figures that came out this week for march, they were uncooperative at best

and we saw the equity markets react negatively accordingly. so i think we're seeing that inflation by its nature is nonlinear and we have progressively this year seen a pushing out of that timeline of when we could see those rate cuts. going into the year, markets were thinking we could see a rate cut come as early as march, march, then move tojune. june is now moving more towards september and even that's not a done deal. so i think certainly there will be a lot of focus on upcoming inflation over coming months. overall, global markets are very ultra sensitive to that interest rate outlook, given that if we do see current rates hold going into the latter parts of the year, that could impact growth not only for the corporate sector, but also from a gdp perspective for individual economies. there's been a boom in us tech stocks, particularly those linked to ai and other prospects as well. are they immune to these other factors that we've

been talking about? interest rates, inflation? i think that they're better positioned to weather a longer environment of higher interest rates. so, you know, ithink that's another thing that traders will be focusing on this earnings season. is it going to be those tech giants doing the heavy lifting once again or are we going to see more broad—based gains? so i think we can probably once again expect to see the likes of nvidia come to the party in terms of delivering solid earnings. investors would like to see a little bit more diversity away into other parts of the economy. but in terms of the question that you pose here, i think that based on the solid fundamentals for those tech giants at the moment, they would be better positioned than, say, the banking sector if we do see an extended period of higher interest rates. elon musk has announced on his social media platform, x, that he will visit india to meet prime minister narendra modi without giving a date. a senior indian government official told the bbc that the meeting is scheduled for the last week of april. the tesla boss is soon expected to announce major investment plans in the country. last month, india cut import taxes on electric vehicles

for global car—makers which commit to investing half a billion dollars and starting local production within three years. let's turn now to the story of truong my lan who has been sentenced to death in vietnam. the property tycoon was found guilty of looting one of the country's largest banks over a period of 11 years. the bbc�*s southeast asia correspondentjonathan head breaks down the highly publicised case. well, it's long been clear that the communist authorities in vietnam wanted to make an example of truong my lan, the 67—year—old property tycoon at the center of this truly massive banking fraud. they encouraged extensive publicity about the trial, giving every last detail about the case against her and the 85 other defendants to vietnamese journalists. now, by imposing the death penalty on her, which is rarely done to women in vietnam, the government seems to be sending out a warning to others, hoping to deter those who might be dabbling in fraud and corruption.

now, this is just the latest, although most spectacular chapter in the long running anti—corruption campaign known in vietnam as blazing furnaces — led by the veteran communist party chief wen fu chong, under which hundreds of state officials have already been either prosecuted or disciplined. but it does raise real questions over how truong my lan was able to loot one of the largest banks in the country for 11 years with nobody trying to stop her. prosecutors have outlined the elaborate network of shell companies and proxies through which she concealed her control of the bank and allowed her to funnel out thousands of loans worth a total of $41; billion. but it is clear that state officials were all too easily bribed to look the other way and that banking regulations are definitely inadequate in vietnam. for more on the story,

visit our bbc website. when it stepped free to competed at the beijing in 2008 london 2012 and rea 2016 games lost part of her right leg in an accident when she was a teenager. after spotting a pair of making trainers in one of the brand's stores, steps as she was told that she had to buy both shoes. when she pointed out that the shop was displaying one leg manikins said she was offered a one—time discount. she said companies which portray an image of diversity and inclusion should back it with eye action. mickey thanked her recent issue exploring opportunities. up to japan because it is that time of the year when this verse the country are treated to a world famous the splay of nature with cherry blossom trees in full bloom. it is a big tourist draw for the country which welcomes nearly 3 million visitors in

february, a 7% increase compared with the same month backin compared with the same month back in 2019, before covid restrictions were enforced. another attractive factor for visitors this year, the weakness in the japanese currency. that is according to a tourism professor. hanamior the cherry blossom viewing over two months from march to may, estimated to attract about 3.7 international visitors with the direct spending that's in us dollars is 717 37 million. as you said, it is the first year without covid restrictions and also with some countries it coincided with the easter holiday. and also, i'm really happy to say that the japan seem to be on the wish list for a lot of people who regard japan as a special destination. and then i think i'm happy

to say that the country does offer a safe and quality product in service, and that is genuine and honest. yeah, it must be encouraging to see numbers returning to japan bigger or higher than those before covid. how much of a factor, though, is the weaker yen playing a part in this? i think it does, play quite a big part. i thinkjapan, a lot of people seem to quite be surprised when they come to the country that japan is quite affordable. i thinkjapan still have this very perceived image about the very expensive country, like very expensive strawberry or very expensive melon. and that's sort of not really the reality now. and what's your expectation for sort of the tourism trend for the rest of the year? do you think it's going to continue from this strong start that you've already had? i think it will. well, cherry blossom is a really big business domestically as well. but i think yes, i think

we really expecting a very, very good tourism season this year. take a look at this picture right here. take a look at this picture right here-— take a look at this picture riaht here. ., i. ,,., right here. can you spot the difference? _ right here. can you spot the difference? the _ right here. can you spot the difference? the one - right here. can you spot the difference? the one on - right here. can you spot the difference? the one on the| difference? the one on the right is actually fake. but don't worry, i could not tell the difference either nor can a lot of people in the uk where there has been a rise in complaints that stamp spot from legitimate stores are being teens counterfeit. anyone who receives a letter with a fake stamp is being charged just over $6 by royal mail. a senior mps told the bbc fake stem circulating in the uk originated from china. a real male spokesman said they are working hard to remove counterfeit stamps from circulation. more business news for you in the next hour. ifor now.

hi, i'm levi with the catch up. tonight, new rules on instagram, a plea from a paralympian and a very old turtle. we'll start with caroline flack and the police are saying they will partly reinvestigate. what made them decide to charge her with assault? she was best known for presenting love island and x factor, but took her own life four years ago whilst facing prosecution for assaulting her boyfriend. now the met�*s say new witness evidence may be available. her mum has repeatedly criticised how the police handled her case. next, instagram plans to start testing new tools to fight what they're calling sextortion. it's when someone uses intimate images to blackmail a person online. one of the new tools is nudity protection. this will blur naked images in the dms and will automatically be turned on if you're under 18. also, potential victims identified

by instagram will be directed to websites for support. some other stories now. a paralympian has criticised nike for using amputee mannequins to promote its products when it doesn't sell single trainers. steph reid is a single leg amputee and says she's only able to buy their running shoes in pairs. nike corresponded and said they're exploring opportunities. next, the classic board game monopoly is set to be made into a movie. margot robbie's production company, who gave us barbie and saltburn, are set to produce it. and just time to leave you with 10 seconds of a turtle, a very old one, in fact. meet 95—year—old myrtle, the turtle. here she is getting a checkup from vets who gave her the all clear and said she should live for many more years to come. you're all caught up now. have a good night.

hello and welcome to sportsday — i'm hugh ferris. our top stories. big hitting bryson makes an impact on day one of the masters as dechambeau cards a seven under 65 at augusta. a first anfield defeat in more than a year and a damaging one. liverpool lose 3—0 to atalanta in the europa league. and lightning doesn't strike twice against lorenzo. novak djokovic avenges last yea r�*s defeat to musetti in monte carlo. hello again. for the first time in nine months liv and pga tour golfers are competing in the same tournament