it's totally worth it. ♪ >> you are watching daybreak asia.bers for singapore, softening, the prior reading had been 55, a little softness. hong kong is looking bright. we saw hong kong gdp better than expected. >> we been following pressures and cicc is going to cut pay. one of china's biggest investment banks has communicated that staff could be relegated to lower ranks and demotions are rare. the plan is being reviewed as a way to cut costs without making them redundant and companies can terminate employees so demotions can read bankers to resign. the pay level was on par with goldman, but it has cut bonuses and cost pressures amid a slump, cicc ebay tight lid on costs. people are planning to demote bankers. >> this comes as xi jinping arrived in france. rebecca joins us for more. the choice of places is interesting. more receptive to china in the past? rebecca: they backed a key probe which triggered momentum in other areas, but emmanuel macron has a different voice from the rest of the union. they're hoping to put more space between the e

we'll have more from the imf�*s asia—pacific boss ahead. hello and welcome to asia business report. steve lai. to our top story today — binance founder changpeng zhao was sentenced to four months in prison after pleading guilty to money laundering charges last november. north america business correspondent michelle fleury explains. sam bankman—fried isn't the only poster boy for crib go facing a reckoning. his rival, ceo of binance, changpeng zhao, has been given four months in jail. back in november, he was —— pleaded guilty to one count of violating the bank's secrecy act, resolving a multi— investigation by the us government into the well�*s largest cryptocurrency exchange, binance. as part of that agreement he also stepped down as ceo. the founder apologised to the court in seattle, saying his company had now put in place anti— money laundering controls. it was watched by his mother and sister who were in court as he learned his fate. the sentence was considerably shorter than the three years prosecutors were demanding and less than the 12-18 were demanding and less than the 12—

welcome to asia.xt half hour we invite you to send. join us on an exciting journey to the very heart of the continent. today the program is “decommunization in reverse.” central asia returns to unified energy system developed back in the soviet union. at the same time, the region is preparing for an acute water shortage in the summer, and china is ready to fill the markets of central asia with its vegetables and fruits. a verdict was passed in astana in a sensational case. former minister of national economy of kazakhstan. akuandyk beshinbaev was sentenced to 24 years in prison. the guilty verdict was handed down on two counts: murder with extreme cruelty and torture. beshimbayev was detained in november last year. in one of the restaurants in astana there was a quarrel between him and his common-law wife sultana tnukenova. the woman died from beatings. the director of the gastrocenter, bakhidzhan baizhanov, who is a relative of bishimbayev, was convicted of concealment and sentenced to four years in

ahead of asia fixed income.s the market too optimistic or too pessimistic about rate cuts right now? >> i think the market was too optimistic about the number of cuts at the beginning of the year and the timing of the cuts. my sense now is that the market is a bit more balanced. the fed really -- the economic data really brought us here and i think the fed, particularly the press conference of chair power was very interesting. in the sense that it narrowed the probability or the range of outcomes for the fed. essentially they are saying they are not going to hike unless there is really significant upside surprise in inflation and they will be waiting. i think that's what the market is positioning now. the short answer to your question, the market is probably more balanced now than we were aware at the beginning of the year. haslinda: are you doing anything differently? >> we thought that the market was getting ahead of itself in the beginning of the year, particularly in terms of the timing of the cuts, the numb

and it's particularly challenging for asia because most central banks in asia, outside of a few like indonesia, asia and philippines, everyone's policy rates are lower than the fed. if you have boj in the negative rate differential by the fed. as market continues to reprice where they think fed action will be in terms of cutting less, than there's a huge debate about whether the terminal fed funds rate is going to be. we just had larry summers in our conference talking about the most likely, if you impair -- compare fomc rate cuts of 2.6, he think it will most likely be 4.6. that kind of tells you that the risk of the runway for fed easing is a lot more limited in that then raises questions of how that's going to influence the trajectory of monetary policy across asia. i think that is really a big concern. you can make an argument across asia. we don't have the same inflation dynamics rbc in the west. we don't have -- obviously we still have some growth challenges, especially with happening in china and the spills -- spillovers of that in the region. to what extent is central-bank po

this is the fastest way to ocean for the countries of central asia.cal and geo-economic project and part of the formation of a multipolar world. there is huge interest in it in uzbekistan, turkmenistan and tajikistan. once again, this is a key link that can connect india with the central one. asia and the entire large eurasian space, but the united states appeared on the cloudless horizon of endless prospects. washington made open threats against india and others wishing to participate in the project. next, a quote. we are aware of the signing of india and iran ten-year contract on the port of chabahar. us sanctions on iran remain in place, and we will continue to enforce them. anyone considering doing business deals with iran. must be aware of the potential risk to which he is exposed, as well as the potential risk of sanctions, because you cannot be friends with iran, because washington has decided so, so sit in your dead end, everything that is beneficial to us, we are already taking away from you ourselves. tell us how important this port is and w

eastern asia. osian. the goal of the association was cooperation in the economic, social, cultural fields, as well as strengthening peace and stability in southeast asia. it was created mainly by countries that had recently gained independence and had no experience making decisions on... osian was indonesia, in september 2023 in jakarta at the forty-third osian summit, indonesian president joe kododa handed over the gavel of the rotating chairman of osian to the forty -fourth prime minister. yes, all of asia, asia-pacific regions will be able to rise to another economic level. today, ocean includes 10 countries in the southeast asian region: indonesia, malaysia, singapore, thailand, the philippines, brunei darussalam, vietnam, laos, myanmar, cambodia. papua, new guinea and east timor have observer status. emblem. represents a circle of ten connected ears of rice, which represents a stable, peaceful, united and dynamically developing organization. the first meeting of ocean foreign ministers of 2024 was he

asia." we are counting down to asia's major market opens. [laughter] haidi: we are both counting down to the start of markets coming online. there, sorry. we are a bit excited. it may be because of the nvidia numbers. there has been a big way of release in big parts of the market when it comes to the bulls being validated by a huge set of numbers there. i suspect that is one of the things you will be watching for in today's session. annabelle: absolutely. as you said, we are very -- [laughs] -- excited about the results from nvidia after the bell today. and i the backdrop of the central banks and economy that you are tracking as well. haidi: and that is the thing, right, with this out of the way, we go back to basics, the bread and butter, focusing on what the central banks are saying. the fed minutes bringing some of the air out of the recent rally we have seen in the u.s., higher-for-longer has been the narrative from central banks there as well. new zealand yesterday. the bank of korea today. take a look at some of the data processing, gd

china will feed central asia; a new food supply channel has been opened in senjiang.icultural produce market in urumqi launched cooling and dispatch system. trucks loaded with forty tons of fresh vegetables and fruits headed through the khargos checkpoint to almaata. well , according to chinese officials, the market will be able to send from 100 to 200 tons of fresh vegetables and fruits to central asia every day. according to statistics from chinese customs in khargos, from january on... suppliers along the chain, both in kazakhstan, russia, uzbekistan and so on, that is, in fact, the market is quite balanced, yes, everyone delivers their vegetables, fruits, on time, small enough batches that will bring down prices during the season, and seasonal supplies can bring local suppliers less money, and less money means the inability to cover loans taken for planting, taken to maintain the harvest on... they were talking, of course, about the beautiful akhaltiki people. during a horseback ride around the arena, arkadak told young listeners about the features of equestrian s

central asia as the key to a new geopolitical and economic reality.rnational investment forum in tashkent, president of uzbekistan shavkat mirziyoyev called on the world community, first of all, business to more actively use the advantages of the region for mutually beneficial partnership. on the forum in there was a lot of talk in tashkent about how recent events around the world have shown the vulnerability of the existing one. systems, disruptions in supply chains, decline in international trade, reduction in investment, but the way out of this difficult situation has also become obvious. of course, we are well aware that today there is an unprecedented struggle for investors in the world, but one inconsequential fact is becoming increasingly clear: no one country can solve such acute problems alone. the spirit of mutual trust and respect, and the principle of mutual support will remain a strong pillar long-term cooperation. uzbekistan is opening. doors for partners. the country has developed a new version of the investment law. the land lease peri

and two wheelers in asia.ctron missed estimates in their keeping and i on softbank ahead of results. the market opens in sydney in tokyo are next. a mixed start to trading. modest weakness across the board as we get into the first few minutes of trade. not much of a carry through in wall street and that is disappointing china data over the weekend as well. this is bloomberg. ♪ and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah. annabelle: this is "bloomberg daybreak: asia." counting down to asia major market opens. u.s. inflation front and center for us especially following university of michigan survey results on friday, but numbers coming out of china as well. haidi: really dire numbers when it comes to credit demand, but yo

asia-pacific regions, then i am sure that if these issues are resolved in asia , indonesia will be ableo achieve high economic growth, and the entire asia-pacific regions will be able to rise to a different economic level. the first meeting of ocean foreign ministers in 2024 took place in luang probang, the oldest city in laos. osian is becoming an increasingly attractive area for foreign investment. economy. russia is one of the main trading partners. especially in the area of ​​integration of the asian economy with the eurasian economic cooperation organization, as well as the shanghai cooperation organization. which would bring real benefits and benefits to our two regions. ministerial meetings are held annually between first the soviet union, and now the russian federation. laos and russia have a long-standing relationship of friendship and cooperation. russia has always been a close and reliable friend of the laotian people. we still remember and appreciate the help the soviet people provided to our country during the struggle for independence from the imperialist invaders. compreh

conquer asia. the 8th camp of the women's national hockey team continues before sending to these competitions. the asian hockey championship will be held in thailand from may 24th to 27th. mahbub abufazeli of sed and cima news agency. the national men's hockey team of our country also camped in hamedan to participate in the asian nations cup. holding the camp of the country's national indoor hockey team hosted by hamedan. this camp was held with the presence of 18 prominent and selected players and 5 members. the technical staff of the national team says that the islamic republic of iran has a very good background and is the champion of asia for 8 rounds it was a runner-up round of this period , we took all our efforts to win the championship , thank god, the conditions of the camp are going very well , the children are getting ready every day, they are getting much better, we have a tough task in asia, our opponents are malaysia, kazakhstan, indonesia the next camp says to sum up. let's go to the

welcome to bloomberg markets: asia. i'm paul allen. the yen's weakening extends, paring a stirred -- search unsuspected intervention that saw the currency gain 3% in minutes. fed chair powell sounded less hawkish than expected or the hang seng poised to enter a bull market with the longest win streak since 2018. we speak with the german software giant sap about how it's helping customers utilize ai and cloud technologies. we will be joined by the head of asia fixed income with her strategy on the back of the fed's rate outlook. let's check how the markets are doing. no trade in china today but hong kong up and running. what are you watching, avril? >> a lot of upside in hong kong but in general a mixed bag across the asia-pacific. it seems like investors were bracing for a more hawkish fed. we got a fed that downplayed that the move would be imminently a rate hike. also the shrinking of the balance sheets to ease pressure on money markets. yet powell also signaled that while keeping the cuts on the table, they might not come so soon, e

morehead on "daybreak: asia" as well.his is bloomberg. ♪ annabelle: we are about 20 minutes into the session. we've got a few different movers we are tracking, the likes of hybe dropping on a report that a court has barred the new genes removal. they say the rational is not sufficient to back the case, the company's case for dismissal. you see the stock reaction coming through. sk inc. we are tracking, we have reports of a ruling of the chairman of the companies divorce. that includes around a $1 billion settlement possibly to his wife. we are hearing details of that. the stock has been jumping as much as 10%. other names we are tracking, we are seeing signals of japan's corporate governance reform in action, so kansai, you see a big reaction, and fuji media as well, there is a report there is a push for an mbo to take place. some of the latest stories on the corporate front, tiktok pushing back at a reuters report that says the social media plus from is working on a clone of the recommended algorithm for u.s. users. the

in terms of the overall look and asia, tracking higher. that is it.hey're all coming? those who are still with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly. >> the following is a paid

europe obviously driven— and asia. europe obviously driven by— and asia.s invasion of ukraine. so the increases we are seeing in european nato members have been really significant in the last two years. _ significant in the last two years. it _ significant in the last two years, it has been a real pivotal— years, it has been a real pivotal shift upwards. as a proportion of gdp, members are spending — proportion of gdp, members are spending close to the 2% gdp on average — spending close to the 2% gdp on average more and more members are reaching that target as welt — are reaching that target as well. �* ., ., . ., , well. and what other challenges in eur0pe. _ well. and what other challenges in europe, industrial— in europe, industrial challenges in order to meet that demand?— challenges in order to meet that demand? certainly. ithink while there _ that demand? certainly. ithink while there is _ that demand? certainly. ithink while there is that _ that demand? certainly. ithink while there is that increase - that demand? certainly. ithink while there is th

annabelle: this is "bloomberg daybreak: asia." the really big event this hour will be the boj governor ueda speaking at a conference, and i was looking at the theme of that. it is old and new challenges for monetary policy, but certainly that boj seems to be confronting both of those. haidi: that is pretty apt given the nature of the challenges that face the bank of japan as it looks into this beyond actually having interest rates beyond negative territory, so interesting conversation as we have seen a degree of patience or comfort in terms of where japanese bond yields are traveling as well as weakness we have seen in the economy as well. annabelle: that is right, and lots to be discussed in terms of market action in japan in particular, jgb 10-year yield sitting at a high, interesting to monitor given changing expectations. traders agitating for the boj to shift its policy settings higher. that is playing into yen dynamics and we have seen that sensitive to the yield gap between the boj and the fed, fairly steady but tracking ar

we have not gone yet but i think in asia others vietnam -- in asia, there is vietnam. there's mexico benefiting, now the biggest trading partner with the u.s.. and poland also looks to be quite a good beneficiary from geopolitics. we have not gone back into china. i know i the beginning of the year short china was the most crowded trade, so from a contrarian perspective, china did look attractive, but given how flighty the allocation could be there, we didn't go back in. there are some tentatively positive signs with what we saw with the trilateral trade meeting between south korea, japan and china. politics getting in the way of economics could be a catalyst for us to look at the region again with trade tensions increasing between the u.s. and china day by day. annabelle: when you take a look at asia in particular, china in particular, we are actually seeing investors are starting to perhaps leave the market again, so the property sector, the moves that have been announced, they seem to not really have much favor among investors over a more sustained period. do you se

that is it for the final ever addition of asia business report. as the programme launched here in singapore. starting from tomorrow we will have a new look and feel that what won't change is our dedication to bring you all the business stories from around the world that mattered to you. see you tomorrow. —— that matter to you. hello there, i'm 0lly foster. here's what's coming up for you on sportsday. kyren wilson is on top of the world. there's a new name on snooker�*s greatest prize. another low for manchester united, humbled at crystal palace. and merlier makes it over the line first at the giro d'italia, but pogacar is still pretty in pink. hello and welcome along to sportsday. kyren wilson is the new world snooker champion. he held his nerve to beat qualifierjakjones to win the title for the first time, beating the welshman 18 frames to 14 at the crucible in sheffield. jones was always playing catch up, from being 7—0 down, but did mount something of a comeback, with his first century of the final as he looked to cut wilson's lead. the match

i'm in one of asia's food meccas, but on display is a who's who of european cuisine. bite for bite. as incomes start to rise, as tastes broaden and travel becomes more common, it's an opportunity for governments not only to sell their products, but also to promote an ideal image of their country. do you think of anything in particular when you think of food from britain? sausage? i don't know. quite boring, actually. not so special. but these cheese exporters are here to fly the flag for british gastronomy. it's a massive job educating people because, you know, the french and the swiss and the italians have been doing a lot longer than we have, and parmesan�*s been around forever, so we've come in sort of fairly late. so we're having to get that message across. and this is what they're up against. for italy, selling food to asia isn'tjust vital for its economy, it's basically a form of diplomacy. they're foodies. they love their food, they love their tradition. it's something we have in common and that makes it easier to spread, also, the italian culinary tradition ar

welcome to bloomberg markets: asia. u.s. futures gaining along with asian chipmakers as nvidia outlook reinforces optimism for the global ai boom. korea unveiling a $19 billion of funding for their own semiconductor industry. and anglo american agreed to talks with bhp, and what could become the biggest mining deal in over a decade. and the outlook for china's summer vacation season and the outlook. let's get you to markets. avril home, it is about ships. -- chips. >> there is a push and pull in terms of monetary policy and earnings from nvidia delivering on the monetary policy front. we saw how the fomc minutes came in more hawkish perhaps more than powell led on during his speech and that is bringing a resurgence in the dollar and putting pressure on asian currencies, particularly on the chinese yen. pboc seems to be leaning in. they said that six at the weakest level since january, allowing declines. we see the korean won under pressure no thanks to the strengthen the dollar but it mostly held steady after the bok kept ra

haidi: this is "daybreak: asia." we are counting down to asia's major markets opens as markets come online in the next two minutes. and surprisingly a pretty weak follow-through in asia. seeing a string of weeks treasury auction start to affect the sentiment across other asset classes, be it commodities and equities. yeah paul: , a really rough day for aussie bonds yesterday. the beta book from the u.s. showed a slight to modest positive outlook for the economy going forward. but, yeah, we still have bets for rate cuts this year. interesting to see if they will be repriced. haidi: fed governor raphael bostic saying the fed will start looking at cutting, but they need to see further disinflation and some elements they are seeing are still quite concerning. so again, the messaging is that they are not in a hurry. they want to see more. not going to be something that gives joy to the markets. the nikkei is off by 1% right off the bat. weakness across the topics -- topix. with the levels we are looking at, and perhaps no

our asia stocks reporter joins us for more.t we know about this story and what is the contention? >> they were one of the six south korea nationwide banks investigated by south korean authorities for their miss selling of the exotic notes tied to the pricing index. even though standard chartered bank kirby is one of the top 10 banks, one of the rather smaller banks in south korea when it comes to commercial banks lending. it was one of the top five sellers of the housing china exotic notes. the bank sold about $900 million worth of product and its at last month 100 million dollars has been set as provision. the bank has started the conversation process for some customers who have bought these products and have faced losses as much as 50%. because the index tied to the structure has lost almost half of its value from three years ago when the notes were sold. but a lot of the customers i spoke to are asking for a full recovery of their losses. and if the bank does not compensate them they are threatening the bank, that they may m

in a unipolar asia. course, like you said, is looking for a world where her are more power centers than just the u.s. might we be headed that way anyway? we are seeing the increased significance of the middle power for instance. >> it's true that china wants to make certain it is the biggest resident power in the indo pacific. it would prefer the united states to be absent, but as it happens, a number of sc on countries -- a number of asean want the united states to keep its approach. they are finding arrangements amongst themselves to make life a little bit easier for them. philippines in particular having signed about six or seven new defense agreements. haslinda: what are some of the major themes emerging for this particular summit? >> i think maritime security as always is important. there are increased concerns about tensions in the south china sea. one of the leading filipino businessman two or three days ago talked about the need for philippines to be able to exploit energy resources in the west p

annabelle: this is "daybreak: asia." we are counting down to asia's major market opens. if the wall street session was any guide, we can expect optimism. the question is how sustainable those moves are. perhaps a bit of a lack of conviction in some traders right now. haidi: yes, and the data, goldilocks for now in terms of the sentiment towards what the fed will do next, but it is also a busy end to the week. 600 companies reporting earnings in japan as one example. so we have a lot to get through it and a lot of ability to move these markets. annabelle: that's right. also recapping the bigger movers , bigger earnings that came out yesterday. one of the names we are tracking in tokyo today is nissan, with a strong output for them. the weaker yen playing into that. and we heard from government officials in japan, suzuki saying that thet are aiming for wage growth. it was in contraction territory for the 24th straight month. this week it has been the continued slippage in the japanese yen now trading, above the 155 mark. the question of how long if we did indeed see interv

haidi: we are counting you down to asia's major market opens. of course we are watching the start of a very busy week for asian central banks as well as earnings. we are expecting holds across the board including the likes of new zealand holding their meetings this week. also getting air -- rba minutes as well as fed minutes. also a big week when it comes to earnings given the heavy discount and geopolitical tensions and the overcapacity claims at play. of course semiconductors will be front and center as we get those nvidia numbers. let's get you to avril hong who is in singapore for the market opens. avril: on those nvidia earnings it is interesting how we are seeing in the options pricing it seems to suggest investors not willing to pay that premium in order to participate in the rally of the marquee stocks. we are seeing potentially that will be a driver this week. on the stock markets it is a bit of a mixed bag. we got some tailwind from last week after u.s. stocks eked out fresh records towards the end of the week. also that added left com

we will have "daybreak: asia."annabelle: a separately lackluster trading session so far for asian equities broadly but one of them is giving us something to talk about this morning, hd hyundai marvin solution. it is a ship-repair company. just started trading this morning. let's bring in philippe laffont's incredible results so far. 40% surge on the first day. it was a bit expected, right? filipe: it's great to have something great to talk about. it has been so tough here in hong kong so this is a refresher. it was expected to have great performance on the first day of trade. this company is part of the human day group, a very specific business, they work in repairing chips for clients all over the world -- in repairing ships. we heard there was very good demand for the shares, 200x above what was being offered. but the stock was priced at the top of the range. the size of this ipo is around $550 million. if we were talking about the size of -- a deal of this size three years ago, it wouldn't be outstanding. but th

that is just about it for "daybreak: asia."es as we look ahead to the start of trading in hong kong, shanghai, and shenzhen. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh david: half an hour away from the opening bills. you're watching the china show. let's get to your top stories

so it includes the names of figures who were in central asia when central asia was still russia. this can be traced, for example, to the name a said. his name is as the account we dug is done because that's the part that was sent to the fast. the when people prayed in the congregation, it's a very respected part of the service. it would say one of the next spend the people who is respected as cold as the account. wait. he's from digress dog. and there are more than a few figures from dentist on whose names often mentioned and i meant the inside. so if you trace it back to salt on the outside of a put in to on is grandfather salt and alpha i made was the one who wrote and made the logo of the root of but on the symbol of the indonesian state, which has dec, a stony blood pass out on a shake as one a was from dug, a stone. that's why the named egleston is still attached in the, in full references as the one a guess tommy means. i said i could stop them. i thought that goes back. that'd be a whole many that means the relationship has existed long before him. denise his independence.

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asia—pacific boost spending injapan. a top destination for global travellers according to mastercard economic institute�*s latest travel trends report. japan leads the top spot welcoming a record three million international arrivals — mainly due to a favourable exchange rate coupled with the popular cherry blossom season. ireland, romania, italy and spain rounded off the top 5. as for the rest of the top 10 destinations, a number of them are in this region, including australia, south korea and indonesia. mastercard's asia pacific chief economist, david mann, says despite the high cost of living, customers are willing to spend money on holidays. i think it is one of the big things that's been going on ever since the end of the covid pandemic which has been this preference for experiences and the of the list, even during the pandemic where people were always thinking about and dreaming of, was to keep getting back on to travel and so we have seen this big pick—up in the amount of travel particularly to the places with good

and so it includes the names of figures who were in central asia when central asia was still russia. this can be trace, for example, to the name a step is name is as the account we dug as dogs because that's the part that was sent to the fox. the when people prayed and the congregation is a very respected part of the service, it would say one of the next spend the people who is respected as cold as the account. wait, he's from douglas stop. and there are more than a few figures from doug stone whose names often mentioned and i meant the in fact if you trace it back to salt and now i'm a put in the on is grandfather salt and alpha i made was the one who wrote and made the logo of the root of but on the symbol of the indonesian state, which has the deck of stony blood pass out on a shake as to why he was from dug of stone. that's why the name dec installed is still attached in the, in full references as the one a guess tommy means i see it that gets stopped. now, i thought that goes back. that'd be a whole many. that means the relationship has existed long before into nature's independ

welcome to asia, we invite you again. together on an exciting journey to the very heart of the continent. today on the program there is a tragedy in kyrgyzstan: an ice cream van hit schoolchildren. kazakhstan’s new peacekeeping initiative - an energy union for three with the participation kazakhstan, uzbekistan and azerbaijan, as well as other results of the investment forum in tashkent and many more interesting things from the world of asia. central asia as the key to a new geopolitical and... economic reality. at the international investment forum in tashkent, president of uzbekistan shavkat mirziyoyev called on the world community, first of all, business to more actively use the advantages of the region for mutually beneficial partnership. at the forum in tashkent there was a lot of talk about how recent events around the world showed the vulnerability of the existing systems, disruptions in supply chains, decline in international trade, reduction in investment, but the way out of this difficult situation has also beco

hello and welcome to asia business report. i'm steve lai. america's central bank left its benchmark interest rate unchanged at 5.25 percent to 5.5 percent, as stubbornly high inflation continues to hold off the timing of the first rate cut. the decision, which was expected, comes days after new government data showed that the pace of us economic growth is slowing. bbc�*s north america business correspondent michelle fleury has the details. stubborn inflation pushes back the timing of the first cut, the timing of the first cut, the weather reserve funds to keep its benchmark in a 23 year high on wednesday. the more certainty that inflation is under control before the lower borrowing costs. they do not have that yet. here is powell during his press conference stop build be made considerable progress towards our objectives.— progress towards our objectives. progress towards our ob'ectives. ., ., ~ objectives. the labour market has remained _ objectives. the labour market has remained strong. - objectives. the labour market has remained strong.

russia and the usa, in central asia it is already possible play on the contradictions of russia, the thinking about. about a possible return as the leader of the conservatives, because they will most likely be defeated, and the resisunok is resigning, they will try to look for a new leader, here cameron has a certain advantage, yes, that is, i will remind you that he is not currently a member of the house of commons, he was placed in the house of lords, and he is not elected, that is , he himself is not in danger of defeat, it is quite possible, i admit, that he will try to compete for this very position of leader of the conservatives, although he is of course absolutely unpopular, therefore i’m not sure what will happen, although i have ambitions against russia, of course, let’s listen. we say absolutely frankly, ukraine must win this war. if ukraine is defeated, it will be our common defeat. france and great britain alone cannot cope the strength to meet these challenges, but by acting together. we can convince others to join our efforts to overcome them. this is as urgent a task t

our next guest runs and event driven asia equity fund.4% this year and has outperformed its benchmark. joining us from hong kong is the head of asia special situation. john, good to have you with us. we know that it has a low correlation to market duration. why should investors be paying attention to it? >> thanks for having me. i think it's important to understand that we see there are risks to the market direction in general. geopolitical risks are in many places around the world. investing is a way of tea correlating from overall market moves. so the way we look at them and express it to our clients is a way to protect from the market movers when the events happen. haslinda: where do you see opportunities in asia right now and what's the basis of it? >> i think the focus on the investment has very much been as we have just seen what everyone was talking about in japan. there is a very strong impulse in japan for shareholder return for corporate governance and this is for investors in the space. this is after the reporting season in jap

we'll have more from the imf�*s asia pacific boss ahead. hello and welcome to asia business report.'m steve lai. before we get all the business news to tell you about the day, you are seeing colombia university. it is where police are now on campus trying to disperse pro—palestinian protesters. nypd officers have entered the university, where students protesting israel's war in gaza have occipied hamilton hall. moments ago police and that the hall. the police department acted after receiving a letter from the administration authorising them to go into the campus. we'll have more on this developing story right here on bbc news. images show police entering the building, as you see on screen, making their way through a window, by the looks of things, trying to make their way into the hall to get to the students that have camped out inside. the campus is in upper manhattan which has been a focal point of student protests that have spread to dozens of universities and schools across the us, expressing opposition to israel's war in gaza. police are, quote, clearing it out, as they marched

so it includes the names of figures who were in central asia when central asia was still russia. this can be traced, for example, to the name is said, his name is as the account we dug as a dog because that's the part that was sent to the fast. the when people prayed in the congregation is a very respected part of the service. it would say one of the next spend the people who is respected as cold as the account. wait. he's from digress dog and there are more than a few figures from dug of stone. there's names often mentioned, in fact if you trace it back to salt. and now i mean putting to y'all and his grandfather, salt, and al from it was the one who wrote and made the logo if they grew to. but on the symbol of the indonesian state, which has dec, a stony blood pass out on a shake as one a was from dug a stone. that's why the named august on is still attached in the, in full references. i think the last, the 18 and i guess tommy means as to i guess stop. now. i thought that goes back. that'd be a whole many. that means the relationship has existed long before and denise has inde

speaking there with lydia of bauer group asia.to: bloomberg's avril hong talking about the leadership transition for singapore. just a reminder that you can now sign up for our singapore edition newsletter for insights into one of asia's most dynamic economies delivered into every week. landed on bloomberg.com. this is bloomberg. ♪ ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. haidi: let's check in on indian markets as we wait for trade numbers and focus today as well as the go dig ipo. some of the considerations for investo

, central asia, and the congress. this week. this one is seen as a viable alternative to western control prefab. this us can now washing goods face restrictions and sanctions due to the ongoing tupelo voltage. anything for it signifies a significant whitfield. and it's challenging economic conditions imposed by western sanctions onto despite the west. it's a comic infrastructure, a one has successfully managed to attract for investments and i, the to minister ministers pointed out corporation will also bolster all sides between the 2 neighbors and something that the u. s. has long been opposed, was talking to us around university professor side motor and, and he believes that many countries of the global south a standing toll, they're not afraid to lay the foundations to becoming future power houses. it would be very hard for the americans to sanction india because they've already sanctioned the russians, iranians or chinese. and if they succeed in marginalizing india, that would basically destroy any hold for them to

it was southeastern port city of trouble, har into a pivotal tribes the top and central asia. on monday, the 20 sions sealed a deal to enhance and develop this for. over the next decade, the apartment was formalized and finalized into one with the indian minister of ports, shipping and waterways sub and now in the us and know that his iranian counterpart, man, dog bass, bosh, signing guitar in the capital. $100.00 is a pretty much india will invest a substantial $370000000.00 to bolster the infrastructure of java. our port focusing on expanding burbs and transport facilities for children are serves as it was. so she added for conserves, as a cultural link between the one in india to the indian ocean. their work is also actively integrating the port city into its national railway network, which will soon connect nor parks i'll get want, including it's a caspian see ports to java, how this movies in to go to completely be international. no south transport quarter facilitating trade between eastern europe, russia, persian gulf nations and of course india. it was minister of froze

we see asia developing ties. we've seen you networks for trade and business. the north south transport port are developed in road and other initiatives coming together to bring about a much better future, hopefully for the people of asia despite the west. but it seems in order to have the best, a brighter future professor. it almost seems that's going to have to take the dismantling of the uni centric world order. and as you say, with all these new alliances being made worldwide geostrategic economic with the bricks and the global south and all of these new international trade, which is almost like, hey guys, a europe, hey america, you've missed the boat on this. if the train has left the station, you know, you could have actually been involved in this, you could have made loads of money, but instead, what are you going to do? you're going to sanction the very people who are creating this that's right. and that i think the world recognizes that we've moved beyond that uni polar moment. and the wes, despite the, the, the bubble that exists in washington and in

gul asia and the title the other one i won became the best player in asia, but let's hear from the quality level that it indicates the championship of asia . kazakhstan had a special feature, which was due to croatia winning the world cup quota, which will be held in february, and definitely the teams that came to win the tournament quota have improved a lot compared to the past. fortunately , iran has the power it has in the world, which is also in the second color of the world. he is deciding which team will come to the world cup. the championship in kazakhstan was iran's ninth championship in asia. the next report what the pochan hockey team should be preparing for is the indoor competition of the asian championship, which will be hosted by thailand in december of this year. mustafa gohari, sed and broadcasting news agency. the french open tennis continued with nadal's elimination and medvedev's promotion to the second round . in the continuation of the french open tennis competition known as ralangaros, daniel medvedev, the fifth man in the world tennis from russia , won against german

i live in south asia, which is home of the him to gosh, gotta go to them. and him all in mountain ranges, the 3rd on the largest 3rd largest collection of fresh water in the world, which supplies up to 16 trunk boundary rivers which go dry up as a result. leading to watch and availability shortages for agriculture, full energy, and also for domestic consumption. so compared to the mass is really, really up to, i mean, that's a big deal and isn't that you'll saying that thousands, millions of people could be without wasa within the coming years? is that rise? yes that we faced extreme walter shortages going forward isn't more, it has reported that if we reach 2 degrees of global warming, which scientists say that we really by the middle of this century, up to 65 percent of those places can mit bound that we have heat waves in urban areas. i live in buckets done when 2014 a one week heat. we've cleaned over a 1000 lives unless we start doing things to make sure urban areas especially have heat. we've management plans and you know, predictions for the citizens

daybreak: asia." counting down to asia major market opens. u.s. inflation front and center for us especially following university of michigan survey results on friday, but numbers coming out of china as well. haidi: really dire numbers when it comes to credit demand, but you look at households and corporates, just the difficulties that beijing policymakers are working with even as some parts of the market have run with the narrative that we have had a few good prints on certain parts of the economy, but the challenges still front and center there. annabelle: the open of japan, south korea, watching the nikkei225 coming online this morning. fairly flat so far, so tracks dissociated we had a wall street on friday, university of michigan survey showing deteriorating sentiment that sets the tone for inflation numbers due later this week and what it means for the fed. japanese yen tracking a slight decline, firming up following two bouts of intervention, but today we are getting closer to the 156 level at this point in time, and also keeping track on w

welcome to bloomberg "markets: asia." top stories, inflation reinforcing bets on fed cuts it might come as early as september. major equity benchmark setting records worldwide as treasury yields retreat. china tech earnings on the way with jd.com and baidu results and signs of pressure on profits. and the latest travel trends from mastercard and we report on the industry that is breaking boundaries. a welcome ceremony for russian president vladimir putin. he did arrive in china in the early hours of this morning so he is on his way to beijing where he will meet chinese president xi jinping. this is an extension of the relationship they signed back in 2022, which happened just before russia launched its invasion of ukraine. this will be the 40th time xi and putin have met since xi jinping first came to power. so just awaiting the russian leaders arrival there. the talks will take place with the chinese president and we will have more on those pictures as soon as something actually happens. but putin is on his way to that w