rishaad: it is monday, i am rishaad salamat.. this is "trending business." ♪ beijing and sydni ball first what we are watching. reading the needle. chinese pledging growth. -- threading the needle. all of theo have tools to keep the economy on track. monsterdevastated by a cyclone. saiddent baldwin lonsdale

they will rebuild. stepping up security. samsung partnering with blackberry. top stories, follow me on twitter. all that important #trending business. singapore, taiwan, and malaysia just clocking on. a look at markets. zeb: a mix picture. the federal reserve meeting tomorrow, waiting to see if they move our signal they will be moving on interest rates and the next two or three months. they may remove the patient and that is what the market is watching. as i said, mixed performance. not a lot of conviction. we are awaiting malaysia to come online momentarily. across the region, asx under pressure. as well.tching the rba new zealand, a modest uptick as

the index is up by 0.1%. 0.25%.nikkei up we are watching oil companies. despite the gains in korea, oil companies under pressure. intermediate at a six year low. and britain benchmark. the biggest drop this year for crude oil. the equity market, the yield is an issue in terms of the debt market but in terms of stocks in japan. last week close above 19,000, the first time they have done that in 19 years. talking premier keqiang to the national people's congress promising restructuring reform. christine hah joins us. what was the main message? christine: li touched on many

topics during this was the year press conference. democracyabout the movement and supported independence for ukraine and chinese-japanese ties will mostly about the economy. he said downward pressure on chinese economy is decreasing and will be difficult to meet a 7% growth target the country has set for its self. he said the country has tools in his arsenal and they are ready to employ if jobs or wages are impacted. he reiterated beijing's commitment to fighting corruption and commitment top parent back democracy to let the economy be more -- a process referring to the many vested interests. he referred to as slashing one's wrist. premier keqiang likes to use traditional chineseidioms. but this tie it was full of modern times.

he said is like playing a chinese chess again. a disinflation every environment and more outflows for the first time in many years. ofre is over capacity and the industrial specter and ballooning debt. rishaad: christine, thank you. a look at that story later in the program. tweet me. moving to our other top stories. the nation of vanuatu declaring a state of emergency after take a direct hit from cyclone pam. it is described as the worst natural disaster in living memory. just give us an idea of the devastation around you. reporter: what we are seeing on the ground is unbelievable. the level of destruction is widespread. bridgesipped off and

have been washed away. the hospital has sustained damage. . shortage of bed medical supplies have been blown away. able to get to the hospitals. it has taken a massive hit and the response is struggling. rishaad: what needs to be done here? do we have any idea on the death toll or number of casualties? tim nelson; the last we heard, the number was six. during the day, with her to rise to attend. yesterday, in the 20's and 30's. -- during the day, we have heard it rise. communications cut off. at present, roughly what is happening in port vila, the capital.

the momentidea at and we are concerned about the well-being of people outside of port vila. what is the, situation medically speaking? what is really needed there, most desperately? tim nelson: medical supplies. and treating the injured area falling debris and houses falling on people. paramedics search-and-rescue. primary health care. that will be needed here, especially as the provinces are opening up and we see the kind of damages and injuries he sustained. peopleestimated 150,000 may well have been displaced or loss of their homes or have a significant impact on their allies. with the half of the population is in desperate need of help. tim, power is power --

help his power mount. organizations, are they teaming up together and getting a cohesive response? fortunately, in the last couple of years, they had been proactive in coordination and organize and structure. we are hoping it will last. education, shelter, water, health, education are being looked at. more coordinated efforts to streamline. we are hoping they come together and organize their efforts. the clock is really taking to get supplies out to communities. it has now been three days since the cyclone hit. food and water are become short. the water they have is surely contaminated. and with the rain, nothing to

drink. food.o not have and they are trying to get their lives back on track. without food or water, people can do very little. if people want to donate, what is the best way to do so? save the children has launched and looking to raise $5 million. --se the chief -- raise and anythingen.org will begin to children for health and giving children places to go. emotionally recover for what they have witnessed and what they will be witnessing over the weeks and months to come. thank you,m nelson, giving us the latest after that devastating cyclone pam that struck the island or archipelago

. some of the other stories. here is even -- yvonne man. yvonne: we are talking china. premier keqiang said he will vow to threaded the needle of warm to help wrote you there -- thread the needle of growth. you are record china debt and slow growth in a stop surgeon mismatch. look at the charts of the day tightening -- painting the future. gdp versus the shanghai composite. gdp growth at the slowest pace since 1990. we had the growth target lowered to 7%. and the shanghai composite jumping 64% last year. and the credit binge. total debt grew double of the output, the most of emerging nations.

they just announce they will be suspending gold futures trading today. the hk said they made the decision because of london's benchmark changes that take place this friday. changes in is a gold pricing mechanism. and the hong kong this changes, no trading of existing without open interest will be suspended immediately come existing with open interest will be available for trading until open positions are closed out. they said today will review its precious metal strategy and redesigned gold futures contract and that may be added to the product list and the future. finally, yahoo! here. for those of you forget your muchord, we all know how of a pain it is. yahoo! has unveiled on demand

password option for its users. basically the next time you want to log on and instead of typing a password, yahoo! text a secure way to your phone like we see with some bank accounts. yahoo! said the identification has improved security and for users and the u.s. at all about the expansion of end-to-end encryption. only the sender and receiver can get them. in the wake of horse of edward snowden about the nsa and ability to access your data. many tech companies have stuck the security to gain customers' trust. yahoos a clear example. back to you. rishaad: thank you. bloomberg business. vladimir putin revealing he was ready to declare nuclear forces over crimea last year.

that is on bloomberg.com, check it out. later in the program, i will be speaking to mr. stringer about a credit briefing. his thoughts on global risk and of urges among the central banks. -- and divergence among central banks. if you have what, 20 me. -- if you have questions, tweet me. microsoft chairman, more than a virtual interest. his startup a big plan. we continue in two. ♪

rishaad: our next guest and the tech world and his leadership in the company's like ibm and chairman of microsoft. ,ohn thompson runs a startup

software that tracks applications. he joins me in the studio. thank you for joining me. what is it? a company about having applications and the infrastructure there forms -- that supports them to perform better. large enterprises have a complex environment and a hard time and find the root cause of utilization of problems. we have a modern platform that does just that. many of the traditional vendors have been around for many, many years have technology companies with infrastructure 25 years ago and they will not make the transition to the cloud. our is about helping the inevitable cloud transition that is going on. rishaad: storage centers. give me a tangible example of what you have been able to accomplish. we have 307 to

five clients or so are around the world that seemed to concentrate around telecom, banking, e-tailing. as it turns out, many of them find themselves in trouble ok surely when performs isn't quite what they wanted to be or needed to be. we tend to be the root cause. however, was an they started down the path of the realized that cost optimization havetunities where they significantly overspent and we can have them manage costs down. we improve utilization and take cost out. rishaad: every company was to reduce cost. -- wants to reduce cost. industries.amut of john thompson: industries that if youplications, so were to buy a mobile phone and wanted to enable the services

and a platform for enabling the services wasn't available, that would be a huge distraction. merchant are an online and your site was not up and available, you will lose revenue you we tend to concentrate on things where the services are being delivered to consumers or businesses is critical to the success. asia-pacific, obviously not your first foray here. what are the opportunities? john thompson: we have about 30 clients across the asia-pacific region and represents a little less than 10% of the total client base we have. it is growing tremendously. as a platformia for introducing new services. the virtual instruments has a service platform first launched here a year ago when i was here. we think there are many, many

opportunities to use that cap abilities that is hardware/software and professional services, together. were shot -- rishaad: ok, hold you partner with? john thompson: that is important. many of our partners are users withchnology and compete us. we have great partnerships with value emc and local, added resellers in every market around the world. an important element. rishaad: is microsoft one of your partners? john thompson: they are. and not because i am chairman. rishaad: as chairman of i will ask you one question. a lot of new product have been coming online. asthere a change of culture

the new chief executive and what's the next big thing here? john thompson: cultural change take some time. saha -- sasha has set to the right tone. the culture will change. the tone here sector beyond the mobile first cloud strategy, the tone he has set is about listening to customers and reacting positively to what customers and partners have to say. when you have been a traditional, strong foothold in the enterprise where customers were forced to buy your technology or do not perceive they had many choices, perhaps your attitude was a little different. today, there are many more choice available to customers and sasha recognizes that and is driving the team in a direction that supports that. rishaad: john, thank you for joining us. john thompson from virtual instruments, the chief

executive. >> holies in ferguson, missouri set a 20-year-old man has been charged with shooting 2 offices during the demonstration. prosecutors said jeffrey williams admitted as being at the protest but said he was not targeting the officers ball firing at somebody with whom he was involved in a dispute. hundreds of thousand people rallied in brazil denouncing president rousseff and top-level corruption. much of their anger on kickbacks at a state owned oil company. and we will leave you with some of the pictures here. some beautiful once. the conservation group has brought attention to the number of birds of prey. ye's view of dubai.

ti -- it was live streamed on the internet. he went around for a few minutes before being brought down. the eagle there. the eagle has landed. we will return after the short break. ♪

rishaad: this is "trending business."

ry ahn and looks -- she takes a look. shery: dramatic and colorful themes are the trademarks of alex's work. first solo in asia. to felle point of them typical in the way it is staged to ring true of what they feel nostalgic about it and everybody is familiar with the word -- a world of hollywood. shery: building on familiarity takes work. blue inger: the cooler the sky, i thought it was a nice narrative with that color. it is striking. and the jacket in that picture.

shery: pulling it off in just watch days. alex prager: showing off the first-day onset was the hard part. i knew there were 350 people waiting for me and my direction. a memory as psychological experience of the individuals within down. isolation that is impossible to see. deciding i wanted to make a series on crowds was a very strange thing when the crowds can be very scary for me at times. shery: if you are looking to explore, what better way then hong kong, one of them was packed cities. first timex prager here as she said hong kong has an aura of the remembrance of the 1982 science-fiction film "blade runner" and has something

she -- alex prager: i see myself taking away a different aspect and possibly finding something as something here and creating something with the people here that i might not be defined in los angeles. shery: whether here or a lot angeles, she is let to introduce dialogue as she prefers ambiguity which can be interpreted by the viewer. shery ahn. next,d: comment up fashionable -- coming up next, fashionable. leading brands under attack. ♪

threshold: it is a very commission has declared a state of emergency. ost: a pacific island has declared a state of emergency. china has wrapped up a conference and the premier says he has policy tools to keep the economy on track. teaming up security,

with ibm to keep confidential information out of the hands of spies". -- spies and crooks. it was information into a virtual container were a cannot malware.d by the trading day is just about upon us and let's see the direction. zeb: we generate on to the comments, giving a live to the theets -- lifts through markets. we are seeing a gain of .5%. the chinese premier adding to investor optimism that china will take targeted easing steps if the economy slows and it comes into jobs or income and they will likely affect. uoying stocks.

lowprices at a six year with the west texas intermediate forming at the end of new york and producers across asia. stocks,kong several major property developer and landlord. a look at the numbers because citigroup is watching this closely among other brokerages that are out with citi says that retail rent remains weak. down by 1.25%. watch the stock and property developers. we told you about the consumer reports that checks in on companies and criticizes companies that have not done right by chinese consumers according to cctv. mobileg and china

companies to watch. the are accused of overcharging for simple fixes. prices could be lower as they start the day. rishaad. premier has vowed to go ahead with structural reforms. what did li say, christine? christine: the message was about the chinese economy. absorb a lot of topics before the main part he says that there will be downward pressure on the chinese economy and there will not reach to growth target. a largethat china has amount of their disposal and they will step up wages are affected. out a massot put

stimulus package like they did during the crisis and has that cut interest rates like 2012. given the low inflation rates it has plenty of room. capital outflows are still a sizable amount in the coffers. -- putting a sizable amount of the coffers. not only treat -- very will not put on a trading band. measureslus or using will go into the stop -- easing measures will go into the stock market instead of channeling it into the areas that it wants to see growth. li talked about that, saying that it bad loan ratio low compared to other countries. over 70% of local that's part investments that will average of. china -- will have returned.

it shows that it is serious for accounting for some of the debt. christine, it was quite wide-ranging. but did he touch on the sensitive issue of reform? christine: he did, he talked a lot about how serious the government is on fighting corruption and also reforming the bureaucracy itself, reducing the government and the economy and letting market forces and. the -- forces in. has likened it to slashing one's wrists. li: reducing the government's role in the economy is a revolution. it touches the interests of several groups. this is like taking a knife to one's own flesh. but however painful it might be we are determined to keep going until it is done because it will clarify the relationship between the government of the market.

stimulate vitality and tackle the downward pressure on economic growth. christine: use the same analogy back in 2013 when he talked about opening china up to market forces but quite a lot of things have changed in the economy. keeping with the analogy we will have to see him with blood will spill as we move the -- we move forward. rishaad: with your is that no company wants to be on, the annual consumer protection show. these year of the dealerships were very much there and stephen is there without much damage this can be. it is like finding your name at the top post at those naughty list. coal in stockings for a lot of companies. was in thele

crosshairs image of your couple of weeks for tim cook to apologize. whether you are guilty or not you are being persecuted in the court of public opinion if you land on the show. is: 315lled "315 which gala." the profile companies that have racked up complaints. let's start with automobile companies. reportedly, according to cctv -- rishaad: those are all foreign-owned? and putting that out there. therephen: that -- stephen: they are out there. do notf these companies

have their own dealerships they have joint venture partnerships reported --lers these dealers reportedly overstated the problems and overcharged. apologizing, taking a page from tim cook. eng out with a statement saying they take the allegations seriously and daimler not commenting and jaguar land rover, separate claims of gearbox problems with cctv saying they did not admit that there are the gearbox problems in suv's. also china mobile and telecommunications allowed fraudsters to use services for illicit activities. rishaad: thank you very much, a huge story of china. ita retin-a social media on -- has there been any social media on it?

reporter: there is a huge reaction because of how popular the show is in china. some consumers and twitter users not quite convinced about the authenticity of these reports overall. one user saying that these cctv -- cctv has revealed issues but they are biased reports, they -- not give relative parties relevant parties any chance to defend and explain. that is one opinion. is of a crackdown on big products or a fake crackdown, i do not know? about generalng aspects that china faces. should we care about products only on march 15? for all its infinite goods and food safety problems exist everywhere and every day should be a 3.15 day. rishaad: you can get that story anytime anywhere by going to the web download.

is available on the mobile or tablet. android, apple, or windows. stories, and auto executive has become the latest target of the anticorruption campaign. faw groupan of china is accused of serious violations of the law according to the website. the company is partners with making thevolkswagen red flag limousine which cost around $800,000. 17% innomy shrank over the fourth quarter invited crunch in consumer revenues and spendings. .4% off of a decline in the second half of the year. gaming revenue may drop further in 2015. the slowdown is because of china's anti-graft campaign and

restrictions on vacationing gamblers. stepping up the fight against cyber spies. datatablet puts sensitive in a virtual container. this company attacked by malware. we have a look at how does this all work. it is attracting people that think they can break-in but basically blackberry is looking with their products tested by one of its competitors, samsung 10.5. it is ibm's software that has a secure smart unit that they bought last year. wr essentially itaps -- apps andlly it wraps voice calls are encrypted as well so that they cannot be attacked by malware.

the company says that devices will be usable for more than one an ibm:cause there is troy and got 63% of officials need to use devices to access -- that shows that 63% of officials need to use these devices to access sensitive information. so they have not really been taking up much use of these encrypted devices. blackberry is hoping that a device like this, a secure tablet will bridge personal and business use so you can do both things, filing the business stuff into a separate compartment and making it a more useful device. "first up this is --rishaad: this is trying to reinvent itself by moving into software but this is a curious blend. tablet.alled a secu

what about the pricing? it is being looked at to see if it could be used for classified german information. companies are expecting something like 10,000 units to be shipped. germany has been shipped and devices for her and her government to have a look at. there will be this conference where the device was released and it may be successful but they are hoping -- rishaad: it is not cheap. they are hoping they can sell it, it will cost more than $2000 a unit. it may be popular with business users and government officials as well. rishaad: thank you. a break but emerging market growth and pressure, predictions of a recession in brazil.

turning businesses back -- or home printing business" is back in two minutes. ♪

reporter: stories making headlines around the world, we do not know how many people have died when a hurricane hit a south pacific nation with wind gusting up to 270 kilometers per hour. the discount is in single figures but is expected to rise. baldwin says it was the worst disaster in history. accusations are denied from beijing that a warplane crossed borders. myanmar says it regretted the deaths and suggests that it could have been the work of a rebel group. has tested ties between

countries that have been strained by myanmar's shift towards the united states. putinn president vladimir has revealed that he was ready to put nuclear forces on alert last year over the annexation of crimea. we are talking about the documentary about the issue. he warned the u.s. and europe not to get involved. the seizure of crimea promoted the worst east-west confrontation since the cold war. it has significantly weakened the russian economy. rishaad: the world central banks with the u.s. and u.k. preparing to tighten policy and other countries representing two thirds of world population are using rates. -- easing rates. fitch is with us now. bifurcated world. ficth: you framed it while.

h: on the oneitc fed and thee the bank of england and on the other side of monetary easing. that largely reflects the constraints on japan and the european governments that do not have a lot of physical space to stimulate demand. rishaad: the problem is the europe and the eurocentric problem. tony: yes, exactly. they are stuck with this problematic dynamic of growth -- wegh debt levels growth and high debt levels and the only way they can address the issues is through aggressive monetary easing. purchasing assets by september of next year. rishaad: the wheels have come off the brits nations apart from india and china.

tony: result was in a difficult spot, they are about to enter recession this year. rishaad: we have emerges over the weekend. tony": a lot of social unrest. they have limited policy options because they have to tighten to address that. and they have local physical problems as well -- fiscal problems as well. russia is in a difficult spot given sanctions and dropping oil prices and india is the state about -- stand out in terms of the countries. rishaad: they recalibrated growth story. ny: there have been significant revisions but now we have them growing more than china which is an unusual situation. rishaad: let's look at russia.

vladimir putin, is the big mystery and what is the other -- the other is that if oil prices remain, where does that leave the economy? contractinge russia oilly based on the lower prices and the effects of sanctions and capital flight leaving the russian economy. so things are looking pretty bleak for russia. i would say that they came into this crisis in a relatively strong position. sovereign --ong they had a strong sovereign balance sheets. and the situation in the ukraine is responsible for the sanctions. the sovereign is at the lowest rate. tony: we have that doubles the. -- double c. rishaad: don't touch it with a

barge? tony: officially we expect a restructuring of the debt is possible and you can see that from the fact that they are about to get into negotiations with creditors on a restructuring so i think we are almost certain that is going to happen. rishaad: greece. the finance minister saying that q.e. will not work. what is going on here? tony: obviously the greece government have their own policy priorities. some of the address problems idiosyncratic drew greece -- tough -- greece. to make more concessions than the administrators of the financing sogram of the imf and eu

they again have limited policy options really, the greeks. ofare expecting some kind negotiated agreement on the new financing program. we think it will be a bumpy road to get there. rishaad: tony, who has surprised you so far this year in terms of being better than you thought. to be upgraded in terms of right. we have -- rate. we have the philippines. tony: one of the best stories is india. the impact that we have seen from the early months of the year of the modi administration has been positive. reforms that seemed to be pursued with some vigor and really improving the medium-term growth outlook. i have india growing 8% if they keep doing that, they will start to improve the overall debt

worthiness.credit rishaad: tony, thank you for joining us. there is a mystery in moscow. putin's absence causes a stir online. ♪

whir andit is a social social media. reporter we are looking for vladimir putin. speculation is, is he dead or is he alive or with his girlfriend who allegedly had a baby? nobody knows. the white house the other day was asking the question, are we operating on the basis that he is alive? on twitter and social media people are talking about this.

they have made it again, "where's putin?" our eu leaders looking for putin? somebody put a photo of eu leaders looking around as if he needed to be found. yvonne: is he wearing the red sweater? -- rosalind: -- yvonne talking about the vr headset and the father in australia seeing the birth of his son 5000 kilometers away. he lived in cleveland and this was in part. -- perth. he could see every moment in real time. people are saying that is a beautiful use of technology in one user recited one happy dad.

you have to check it out. back to you . rishaad: championing chinese artists. we will speak to one of the biggest names in contemporary art in the next hour.

rishaad:rishaad: it is monday the 16th of march and this is "trending business." coming online in singapore and mumbai but this is what we are looking at today, try the winding up the national people's congress promising to support the economy. the premier says that they have all of the tools required. the state of emergency has been declared with a pacific island ,ation devastated by a cyclone

the worst in its history. the president saying that they will rebuild paradise. culture revisited as hong kong posts and art event with our collectors from all over the world. we are there a lot of. -- we are there live. hashtag.ll-important figure a look at the indonesian trading day, leader we will be in jakarta. reporter: we are seeing selling pressure across the asia-pacific. tightening and whether the federal reserve will remove limitations from policy statement. we will be watching that as the meeting unfolds. jakarta getting underway, this is what we are seeing. .05% -- .5% drop.

trade data will show whether or not the archipelago will extend contracting exports and imports. this week the bank of indonesia decision, the worst performer among currencies. the philippines looks like this, a decline of 1%. latest get the remittances data which shows that it may surpass the increase we saw in december. the overseas remittances critical to the economy. trend that continues to trade, there is a divergence with the shanghai composite advancing after the premier assured members of the people's congress that they will take targeted using steps if the economy slows. sharesseeing shanghai advancing but energy shares with dim earnings news from the big

developer driving the hang seng lower. are not meeting expectations and investors are closely following the news out of china expecting a reserve ratio cut on what is developing to be a record cash. that is the state of the markets. rishaad: let's turn to events in beijing. wrapping up the people's conference promising structural reforms and supporting the economy. christine is in china. i have to ask you about what the thrust of the message was. christine: he touched on many topics here in this conference. the hong kong democracy movement, the china and japan ties. but the main thrust was the chinese economy. pressure onwnward

the chinese economy is increasing and it will be difficult to meet a 7% growth target but the country has many policy tools left and is ready to deploy them if growth becomes lower. or if jobs are wages are impacted. he reiterated beijing's commitment to fighting corruption and cutting back the bureaucracy to allow the economy to be more determined by market forces which he colorfully referred to as a kid and to to slashingakin one's wrists. he says it was like playing a chinese chess game. china is grappling with slowing growth and industrial possession and r cashnd ballooning debt, -- flow and ballooning debt. this is an apt analogy. rishaad: let's see what is going on.

we will have a more detailed look on the show and we want your opinions as well. tweet me your thoughts. 50 look at a list that no company wants to be on, the state broadcaster entering the consumer protection show. names are in the cross hairs. a look at how damaging this could be for a brand selling for china. reporter: you do not want to be on the list. it is like finding your cell phone shantou's naughty list. whether you want -- your cell phone send those naughty list. this is a consumer watchdog show that is broadcast every march 15 in china. names like jaguar and land rover and nissan and vw and daimler dealerships and china mobile and

h&m and gap and old navy and even our miami -- armani. this exposes consumer complaints and china. the show criticized not giving the accused a chance to rebut but volkswagen has come up quickly to apologize for any inconveniences caused by consumers that its various dealerships that are again with joint venture partners. g was nissan says it takes allegations seriously. it is not just naming and shaming, they could face fines and reputation damage in china. rishaad: thank you for that. 30 look at the other stories we are watching for you, you won't with the roundup. -- take a look at the other stories we're working with you, up. lawn -- the wrap

yvonne: we are seeing photos of the worst natural disaster some people have seen, cyclone pam. flattens 23 thousand homes and they took a direct hit. with as strong as 270 kilometers an hour tour through the island, severing communications with remote islands. that you look at the damage. -- take a look at the damage. australia and new zealand have aid and other countries have pledged including the u.k. offering $3 million in japan said -- and japan sending relief goods. ban ki-moon says he is concerned. gold futuresend trading immediately today.

the hong kong futures exchange said they made the decision because of the london benchmark changes that take effect this friday. is our changes in the gold pricing mechanism. -- those are changes in the gold pricing mechanism. existing contracts with open interest will be available for trade until expiring or open positions are closed out. the exchanges say they will review the precious metal strategy and redefined contracts that could be added to the product listed the future. let's talk about yahoo! because this is for all of you that forget passwords. unveiled an on-demand password feature for users. instead of typing a passage yahoo! can text you a secure one to your phone. 's new authentication option aims to improve security for many users.

it is available to many users in the u.s. senate is about the expansion of end to end encryption which is a feature that locks up message content so only the sender and receiver can get them. wake of reports from edward snowden about the nsa's ability to access your data. tech companies have stepped up security to regain trust. rishaad: another story we're following on bloomberg business is the shift to tech jobs with less pay. that is on bloomberg.com. later on the program, we are going to mumbai to look at the reason that india's biggest banks are refusing to cut interest rates. next we are back in two hong kong looking at the state of contemporary art. -- but next we are back in two hong kong looking at the state of contemporary art. ♪

basel is that in hong kong and hong kong social life has gone into overdrive. we go on a vip night to all of the right places to be seen. reporter: all of the hotels and restaurants are fully booked by the galleries. if you want to throw your own party, bring your own yacht. this is a floating party. what would you say off the top of your head is the combined net worth down there smoking and drinking? least $10 billion just from the guests that i know of. fredrik: all of these people are

here for art or are some of them for parties? have art buyers and guests from taiwan and singapore and from macau and a lot of great families from hong kong as well. next stop, ground zero of the crazy art scene. the crowds are lined up all the way to the corner but luckily i have a vip. guest: a lot of people, a lot of interest. a good sale. mature,r we see it attract more international collectors and museum groups. i think everyone is anticipating a good showing. are moving into the

second phase of the evening which is the dinner party hop. basel special? it is european art and asian art. fredrik: are you still looking for things? ulli: i am always looking for things. i usually buy in china but i might be inspired to buy something. rishaad: let's head to where the action is. basel standing by at art at one of the best-known galleries. herry: i am joined with rollout, founder and -- carl l

amb, founder and owner of the gallery. how busy argue with everything going on? carl: i have just exhausted myself. in hong kong, including my beginner. -- big dinner in the event i am doing. to do anotherg big event. hoping to provide for the. sherry: are things changing in hong kong? is thishat is great year, the hong kong government are recognizing how art can change all of that. in hongve been waiting kong for years, my whole life,

to have this happening. international people are all coming, it is really cool. everyone is talking about art even if they are not into art here. it is a great sense. hong kong over the last three years has greatly changed a lot. jerry: how is that impacting business? our sale -- how are sales? earl: every day there is no interest from around the world. sherry: are we talking mainland chinese buyers? pearl: international -- international. sherry: how are you compared doing to last year? pearl: last year we did as well. it was a different group of clients. we are very excited. : you just opened a new

gallery right in hong kong. you have shanghai in singapore and two in hong kong. this one is emerging artists. why do you focus on them? rl: by having such a high overhead it is impossible to have a platform for emerging artists and especially for design. .e have a design gallery all asian countries are very supportive of design. but we already have a design want toand i do not open a design gallery in hong kong because the rent is so high. so we have the new gallery as a platform for emerging artists. the emerging artists will be very different because we are not looking at the age nor the .ationality we are doing two or three exhibitions a year on design. is there a reason you

can afford to halve the hole gallery because there is more demand than in the past? pearl: i do not think about demand or supply because art is not a product. i would really love to create a platform, an international platform where we would have emerging artists in hong kong having a dialogue with international art. that is what always happens in my dream. sherry: what do you think will be the future of hong kong as an art scene compared to the other places you are at? rl: hong kong would have a very healthy art infrastructure. i am waiting for it to open a very we need to have strong institutional influence. when it opens it will do well in hong kong because then we have and nows and collectors

arte is an art help -- hub. thank you for your time -- sherry: thank you for your time. reporter: let's check out stories making headlines around the world. beenate of emergency has declared in the south pacific after it received a direct hit from cyclone pam. at least eight people are known 270 kilometers per hour winds drove the storm surge eight meters high. the number of dead is expected to rise. president baldwin says it is the worst disaster in history. denied accusations from beijing that a warplane

crossed the border and kill before chinese farmers. and official says that that killed for chinese farmers with and killed four chinese farmers with a bomb. in ferguson, missouri state a 20-year-old man has been charged with shooting to officers during a demonstration on friday. jeffrey williams admitted to being at the protests but says he was not targeting the officers, that he was fighting a ring at someone with whom he was involved in a dispute. hit in the face and the other in the shoulder and both have been released from hospital rishaad:. up next -- hospital. rishaad: up next, where is vladimir putin? questions about the russian leaders were about turned into a game. ♪

-- were about turned into a game. ♪

rishaad: you are watching "trending business." we have a look at what is trending on social media. rosalindnne:ed by yvone will play a game --

ne: i am joined by rosalind and we are playing a game, where is vladimir putin. his last appearance was february 5 and there has been a lot of speculation. pick one had a pictorial list. on tasting foods contributing to his disappearance. yvonne:. last week somebody said he was firing unofficial. -- rosalind: a photo of leaders looking around. where could we have put him? like a soap opera. he is notguy, missing, it is just part of a publicity stunt. there is a photo where we see vlad. the return of

to meet theuled president of st. petersburg so people are waiting to see if he shows up. yvonne: a lot of creative answers. i will talk creative as well because a great marketing campaign. 'sis is an australian dad, name is jason lark. lark. name is jason he knew he had to go on a job and he would miss the birth of his child. it was in cleveland and his wife was in perth and they put on the v.r. headset and he was able to see and witness his son's birth in real-time. which was really cool because he could see the walls so what felt like he was sitting in the room when they filmed all of this. it was a beautiful video really,

people have said that this would bring your tears, some people saying it is a tearjerker. the world's first virtual reality birth. another user saying, could you imagine that you could look into space? we will see where the technology takes us. one person says he tried it over the weekend and it is pretty amazing, a game changer which you really could tell. it brings virtual reality to life in a way. yvonne: it was samsung that did a whole campaign on this and it was so interesting. you see the mom on the side and it's like, hi mom. you see everything around the room and it was like he was there. thank you soonne: much for the look on what is trending. did you use twitter, remember to follow us. a quick look at what is

going on market wise, the trading today. hong kong and shanghai in japan -- and japan. bothering.lat, not the chinese composite more convincing, 48% on the upside -- .8% on the upside after the policy tools to maintain economic targets. kospi unchanged in the taiwanese market down a fraction. their luck -- we have a lake that -- lack of direction. we have a break coming up but the relief efforts have begun to the country we live -- reeling in the wake of tropical cyclone pam. ♪

rishaad: thanks in the u.s. are coming to full and it has sunk to its lowest level in six years. opec will cut deductions in its next meeting in june. up the national people's congress, pledging to support growth, saying he has a policy tools required to keep the economy on track and he says he would not hesitate to act.

nationote pacific island has declared a state of emergency after taking a direct hit from cyclone pan, described as the worst ever disaster. dead but the number is expected to rise when rescues reached the island. tokyo session is closing up for an hour. >> investors are awaiting that important federal reserve decision coming out of washington this week. several other central bank decisions will be watching closely to see whether they will .tem across southeast asia we are seeing marginal gains, straight times in singapore rising.

let's take a closer look at hong kong and shanghai. they have pulled out of the declines and are investing -- advancing. i want to call your attention to shanghai -- doing even better today on those comments from the chinese premier. south korea today -- some oil related stocks under pressure, but the airline is advancing. we will get to that in a moment. casino stocks are falling across the board at hong kong. a notestanley out with about earnings potential having a downward impact. 2.5% -- andloser is watch the developers, they are holding 2.5% advancing. low.month that is the latest. rishaad: the national people's

congress is dealing with structural reforms wealth supporting the economy -- reforms while supporting the economy. what is the main thrust of the conference, what he has been saying? generally he is talking about a chinese domestic economy, comparing it to chinese chess, saying it easy to reach a 7% growth but that it has enough policy tools left in its arsenal which is prepared to use. or, as you said, if jobs are at stake. he did reiterate the commitment to reform and reduce its role in the economy, which he likens to slashing wrists. reducing the government's role in the economy is a

revolution. it touches the interest of several groups. this is like taking a knife to howevern flesh, but painful it might be, we are determined to keep going until it is done, because it will clarify the relationship between the government and the market, stimulate vitality, and tackle the dour pressure on economic growth. christine: china has been relatively spare on monetary policy. given the low inflation they do have room to move. they also have fiscal tools, although the danger is that any similar measure will put it back in the front market, and all the areas where chinese people can make quick money instead of the liquidity that it wants to develop. a service sector, or spending and consumption. but have the policy tools,

can they structure the economy enough that these policy tools will work in the desired manner? that is the real question. rishaad: what about debt? he addressed that. christine: he mentioned that perhaps -- again, the language is very vague. he said that the government debt was manageable and that yanks have high capital ratios and that over 70% of debt due to investments will have returns, but given how long local governments have been racking up these unsustainable levels of spending, 90% of deaths are due to be rolled over. it will stay for a long time. rishaad: thanks a lot. that is christine harper in beijing. indonesia has introduced a new tax break to attract more investment.

we are joined from the indonesian capital to give us some background. good morning. >> indonesia is planning to give tax incentives that invest in indonesia. not only that, they will also give incentives to companies that create more jobs are exports. they are taking all measures to attract more investment to address the deficit. it has been weighing on the ruby, trading around 1300 per dollar, and has become the worst performing currency. tax incentives alone are not enough. indonesia still has to fix the major problem, lack of infrastructure. policys say that the didn't help the rupiah and

markets were likely to be excited by this package. imports are still pretty high and indonesia imported one point 1.6 eight billion in january and apart from tax breaks they are trying to lure more tourism. they will also have visas for visitors. is one of nine countries. back to you. rishaad: thank you. we will take you to some of the other stories. looking at the general electric -- it is selling its financial services business and one of the largest private equity businesses. has a $6.3ent firm billion deal. it will focus on

industrial business that accounts for 70% of revenue. blackberry is stepping up security on cyber spies, introducing a modified tablet using ibm software and what they are calling a virtual container. it can't be harmed by malware, but it does allow users to access consumer apps and it will be available later this year. macau's economy shrunk by 17% in the last quarter, driving it down was a plunge in casino revenue. they dropped 4/10 of 1%. a bloomberg survey is seeing gross gaming revenue. the pacific island nation has declared a state of emergency after taking a direct hit from

cyclone pam. it has been described as the worst ever disaster. let's get to paul allen in sydney. eight operation is getting underway, it countries all around that part of the world are getting involved. paul: that's right. australia has contributed $5 million to aid agencies that are along with three military planes with supplies. two more will land today. the commercial flights has also resumed which will help tremendously with the aid. the international monetary fund is promising quick and on bureaucratic steps to help it get helmets the, -- to help it get on its feet. the storm was absolutely enormous -- wins over 320 kilometers per hour. these are just high tides, this is more like a wall of water

hitting the coast. believed tole have have been affected. many buildings were either completely destroyed or lost roofs, including the hospital. when the president was speaking about the disaster, his voice was breaking as he called this a monster which has devastated the country. communication is still a setback for us. through. get telecom has been restored, the only means of communication we can get through.

with the outlying islands we do not know the extent of the damage because of the breakdown in communications. paul: it is geographically challenging, 83 islands across the pacific. two.ights have flown over the pilot was unable to land but described entire communities as flattened. rishaad: thank you. we will get more on that story. download the bloomberg app to your tablet, available for android and all windows operating systems. japan's job market may not be as robust as headlines and suggest. whether the government still has it were cut out to raise wages. ♪

headlines making around the world -- hundreds of thousands have rallied in cities across brazil, denouncing the president and top-level corruption. much of the anger focused on kickbacks that oil companies. prosecutors say hundreds of millions of dollars were paid in bribes by brazil's biggest construction and engineering firm in exchange for inflated contracts. dozens of politicians are implicated, including two of the president's top advisers. revealed hein has was ready to put his nuclear forces on alert last year over the annexation of crimea. documentary, he said he warned the u.s. and europe not to get involved. the seizure of crimea provoked to the worst confrontation since the cold war, prompting

sanctions that have weakened the russian economy. the group has drawn attention to the world's dwindling number of words of prey. -- birds of prey. the eagle was fitted with a small camera from his flight, and his flight was streamed. he glided around for a few minutes before being called down to his handler. -- a taste of where eagles dare. rishaad: a look at what the markets are watching for. daniel martin is our capital economics. thanks for joining us. what is front and center for you? el: the u.s. rate decision is going to be the big thing.

we are expecting them to drop that line, the fed will have to be patient and monetary policy and i think that will probably set up a rate hike as soon as june. no inflation has turned negative recently and that may mean that some unexpected rate hikes could come later in the year. the monetary policy is a forward-looking game and the economy is very strong, creating more jobs -- 300,000 a month. in time that will see through into stronger wage growth. the fed does need to start acting as. in the: the dollar recent strength -- how much of that is a race to the bottom in currency war terms? that, how much of an interest rate hike has been priced into the dollar now? markets areink the

expecting rates to rise, as soon as june. i don't think the market is prepared for how quickly it might rise. they are expecting rates to be 3% by theing to about end of 2016. if we are right that will be the past interest rates and as markets adjustable only add to dollar strength. rishaad: of course it is all down to the world moving into direction, central banks moving into directions. ecb moving in the opposite direction to the fed and the bank of england. something -- the bank of japan has still got it all to do right now. its work is cut out. even though the labor market looks like it is working close to full employment, it is not really getting that much wiggle room.

daniel: no, i don't think so. maybe the latest round of wage negotiations will come out with some healthy increases, but that is expected. thing is that japan is going to see inflation negative in the second quarter as the effects of those hikes dropout. with headline inflation turning negative in the second quarter, inflations.fect the bank of japan is trying to raise expectation and get inflation in the medium-term. at the moment that is looking quite -- a. of negative headline inflation is only going to make it harder. weaknessthe yen's should help to engender that. some have said they want to give it up to 2%. what is your view?

daniel: my expectation is that the yen will head to 140 by the end of the year, but that factors in by the bank of japan. we expect them to up their a trillionom dollars to 90 chilean dollars. trillion to $90 trillion. inflation could be 1% this year and next year, so they are falling short of what they want to achieve. rishaad: the problem is if you devalue your currency, you do it at the end of the day, and other people do the same thing. we have seen a lot of that. but it doesn't work, does it? as aan't rely on this being the main way of inflation. daniel: just to come back to japan and whether you can do it

for the exchange rate -- no, there has to be a change in expectation. japan households and businesses expect that deflation, giving them away from that. shock andte a big that is what bank of japan has to deliver. in indonesia the situation is quite different. last month they decided to cut their interest rates despite high inflation, which is a bit of a change. we expect them to do the same this month. fedas you say, with the hiking rates later in the year, this could be something the bank of indonesia has to reverse quite quickly. it is focused very much on growth at the moment and that is fine cut interest rates. but if there is a negative market reaction, the repeal

looks vulnerable and we could see the bank of indonesia having to reverse it. rishaad: great talking to you. coming up, refusing to curb interest rates. why india's biggest banks are not following. ♪

rishaad: india's central bank has been cutting rates, but local banks haven't been following suit. the biggest banks have not -- have passed on to rounds of monetary policy which came this year. we are in mumbai -- what is their excuse?

are blaming the bank of india's new guidelines for the inability to reduce lending rates, despite to rounds of rate cuts by the central bank. they were asked why they haven't rate cut even after the bank of india has reduced its key policy rates by half a percentage point at the start of this year. thanks pointed to the guidelines. only small state-run banks have lowered the lending rates. ironically, soon after the meeting, the finance minister said they were still waiting for further cues. the next policy review is scheduled for april, designed to the banks have the

base rate between 10%-10 0.25%. one of the policy rates would raise the central bank saying in his march that further monetary easing will meet prerequisites, including pass rate cuts. rishaad: thank you. let's tell you what is trending today. >> we are still talking about criticizedla that those car dealers, including volkswagen, mercedes -- they overcharge for simple fixes. some people are saying, are

these reports true? one person saying they paid a cover thingsto up and people are saying it is blown out of proportion. "i i am really not sure who should be embarrassed here." so -- where in the world is vladimir putin? he has been missing since march 5. he is scheduled to meet with the president of kirsten today -- kurdistan today. there are questions about where he is. is he ill? has he been buried by world leaders? people say we will see what happens. video of anviral australian dad seeing the birth of his baby son, one that has really gone viral.

vr.as through that's it for "trending business." "asia edge" is next. ♪

rishaad: that is the opera house in sydney -- a glorious day. it is trading day, and this is "asia edge." oil is that a six-year low as stockpiles had their highest. markets decline. investors are hoping for clues from the fed. the devastation -- eight people are killed as cyclone pam strikes a direct hit. >> coming out, hong kong is

hosting art fairs. bloomberg is their lives. also in town, victoria beckham -- planning her second designer store, and we have an exclusive interview. where eagles dare -- we are flying high in dubai with a birds eye view of the city. all that and more in this monday edition of asia edge. energy shares under pressure today as oil continues to fall to a six-year low. this is what we have in terms of financial markets -- investors focused on the fed. and wednesday we will see if they removed that statement. and how markets will react. in hong kong and shanghai, a lot of optimism. the shanghai composite,