according to the asian developing bank, countries need $26 billion for infrastructure by the year 2030. no government nor combinations of governments have that kind of money, only the private sector does and only if countries make themselves welcoming to private investment will those trillions of dollars get off the sidelines, into their economy and into productive enterprises to bring jobs and prosperity to their people. for that to happen, indo-pacific leaders must prioritize transparency, anti-corruption, and responsible financing. the u.s. government's indo-pacific initiatives will be shaped by these values and buttressed by partnerships with american companies. this will reflect american values and the high standards, transparency and adherence to the rule of law. with american companies, citizens around the world know what you see is what you get. honest contracts, honest terms, and no need for off the books mischief. integrity in business practices is an essential pillar of our indo-pacific economic vision and what each country in the region needs. as i close today, i want every

had long been suspended due to the poor condition of the track in two thousand and nine the asian development bank provided thirteen million dollars to rebuild the missing link which. travel time between the two countries and boost trade trade between cambodia and thailand reached five and a half billion dollars last year up to ten percent from the year before the two asieh nations have pledged to triple that number by twenty twenty but the two countries still have to reach an agreement on trains crossing the border. corporate news now and the boss of german steel giant. stepping down german media is reporting that. is leaving before he gets fired american activist investor paul singer recently bought a stake in the company with the aim of forcing easing her out according to the news magazine. the move comes shortly after testing corp announced a deal to merge its european steel business with indian rival. internet entrepreneur kim dotcom who became world famous for his file sharing website mega upload as pretty much one himself a free flight to the united states that is after losing the latest fe

and america was proud to support foundational institutions like apec, the asian development bank among others. thanks to this history of economic and commercial engagements, america's relationships throughout the indo-pacific today are characterized by mutual trust and respect. american friendship is welcomed and american businesses are recognized for their ingenuity, reliability and honesty. today no country does more two-way trade in the indo-pacific than the united states. in southeast asia, the u.s. is the single largest form of investment larger than china, japan, and the european union. open a map of the indo-pacific today and it's dotted with u.s. and efforts to build self-reliance, business institutions, and promote private sector growth. in the philippines, there was a business that helped the country return into a crucial part of the semiconductor supply chain. in malaysia, general electric invested in a sales and service center in 1975, and today, 1300 employees in the country from kuala lumpur. when malaysians recently elected a new government, i want them to know the unite

had long been suspended due to the poor condition of the track in two thousand and nine the asian development bank provided thirteen million dollars to rebuild the missing link which aims to travel time between the two countries and boost trade trade between cambodia and thailand reached five and a half billion dollars last year up ten percent from the year before the two nations have pledged to triple that number by twenty twenty but the two countries still have to reach an agreement on trains crossing the border. now the latest on those kids trapped underground. officials are warning that rescue workers face a brace against water to save this young football team who spent twelve nights trapped inside a flooded cave system what is being pumped out around the clock reducing the flood level. but heavy rains are forecast and that could jeopardize the complex rescue operation. under the most extraordinarily difficult and hazardous conditions volunteers pick and swim their way through this fast cave complex. it's back breaking work but they do all they can to try to clear a way through. deep inside th

welcome sayuri shirai, a former member of the bank of japan and a former professor at the asian development bankity. -- is it a baby step in the direction of really tightening or is it a way of making sure they can continue on their easing policy by alleviating some of the extraneous problems? sayuri: it is both. what the apd to suggested. [indiscernible] they gave the impression to people that this is just a minor modification. actually, i think if market conditions pickup, this is suggesting that the boj is able also they target but did not say that they will maintain current interest rates until october of next year and they did not mention anything in their outlook. this includes the possibility that the boj may take steps toward normalization. that is my feelings. they said quite specifically they are not doing this to alleviate pressure on the financial community. is that right? will this relieve the banks some? this is -- this activity is good for the markets but in terms of the issuance company and banks, this interest rate is still too low. i don't think they are fully happy but it is b

by asian development bank experts, estimates -- they 1.7 trillion in investment. each year, for the next dozen years to maintain growth and eradicate poverty. today asia invests only 881 billion. barely half of what's needed. in my line of work we know all too well that adequate infrastructure is not only a central for accelerating economic growth, but really is a prerick zit to achieving better health, education, and other development outcomes. and that's why -- we're excited to be part of the infrastructure transaction and assistance network with secretary pomp announce this morning. our role is -- very simply put, to make it easier for you to do infrastructure business in asia under itan hard at work leveling the playing feild for you and companies like yours. work to promote a rules base and transparent environment for negotiating infrastructurens ifing. and we'll do it by strengthening legal, regulatory procurement camibilities. we'll also continue to invest in identifying and addressing constraints on investment like corruption. one example, in indonesia we

focusing on is this long-term strategy that china has been in terms of their version of the asian development bankplan for asia in which china is the if you financier and think about the advantages of the marshall plan for the united states in the 1950's and 60's it is one of the reasons they became such a dominant economy. the chinese are also employing other aspect, just a few years ago all trade done within asia was done in the form of u.s. dollars. it was the single reserve currency. we now see that many of these trade contract are being done in chinese renminbi and this is something that enhances the importance of the chinese within global commerce. this is something that we should not be ignoring, it is something that is quite important. francine: is there a vicious there,- china puts out the more the yuan begins, the more they risk urging of president trump because he believes that's manipulation. >> there's obviously concern on the part of many that this is manipulation. if you look at the performance of the renminbi since the financial crisis, however, you see that it is one of the few cu

developed within europe a bit more? if they can see growth in those areas, that could be good for the asian-based banks, or u.s.ch. joining us from sydney. let's have a look at the business flash headlines. the liquidator struggling abroad. an offer from cerberus capital management over a rival bid. deloitte is managing the operation. we are told it is seen as a better option, and an agreement may be struck within weeks. one source saying no final decision has been made, but the bid has been turned down. -- a locked in battle with samsung. the three contracts could be worth as much as $9 billion. samsung winning the race would signal a turnaround after a series of political despite the united states claiming it's a security threat. let's have a look at what's going on -- let's talk about this telecommunications company, it sees itself as more than that, doesn't it. wants to be an internet company with some investors will questioning. this as mainland investors are barred from buying the stoxx. -- sayingong exchange a stock selection will be discussed, and he is confident that it will be added to the training li