bank thank you very much for your insights. asian economies are bouncing back from the cove in 1000 pandemic but at very different speeds that's the key takeaway from an asian development bank report out today economic growth across asia is expected to jump 7.3 percent this year after a 0.2 percent contraction in 2028 but economic fortunes are diverging across the continent china is set for a strong rebound this year thanks and part to booming exports the rest of the world but growth will be much lower in the tourism dependent economies of the pacific and southeast asia meanwhile the threat of coronavirus still looms large especially in india the a.t.v. has project that it will see one of the strongest economic rebounds with 11 per cent this year but india is now battling a record surge and virus cases costing many lives and livelihoods for more i'm joined by abdul ib odd he's the director of the macro economic research division at the asian development bank in manila welcome to to the show let's start with india how much do you see this current surge in virus cases impacting india's recovery. it's obviously a very serious concern obviously both at the social level but

the asian development bank says getting back on the path to growth will require a vast amount of government and private funds lawrence lee. just there with me said. top stories india has seen its worst day so far from the crowd a virus with nearly 3300 more fatalities taking the official toll past 200000 but the actual number is thought to be much higher and it's withdrawn and has more from new delhi. hospital to hospital to have.

but economic recovery has begun in many asian countries according to a forecast by the asian development bank growth which strengthened in the latter part of last year has been driven mostly by exports of electronics and personal protective equipment developing asia which groups $45.00 countries in asia pacific is forecast to grow 7.3 percent this year rapid economic recovery. stronger import. the us. economy. we are one of the top. trading partners and therefore will likely provide. but the outlook for asia pacific countries will depend mainly on how the pandemic unfolds many countries have started vaccination programs but any delay in rollout could prolong the crisis new outbreaks and subsequent curbs on movement will disrupt mobility and economic activity even as economies recover countries will be counting the cost of the pandemic for years to come school closures disrupted education and students in developing asia last nearly a 3rd of a year's learning on average that to substantially reduce future earnings and productivity the asian development bank says getting back on the path to grow

annmarie: that was the president of the asian developing bank on vaccine rollout in the region -- asianopment bank on the rollout in the region. next, what we have learned from this season's bank earnings. ♪ >> a successful quarter across the board for the company. >> 36 billion in the first quarter was really shows how strong the franchise has performed. >> we had a good start to the year. we had a significant increase in profitability up 18%. the 1.4 billion is one of the biggest profit wise we have had for several years. >> economies have started to recover coming from individuals. >> profits up almost 80%. a very strong recovery. annmarie: a few of the banking executives we have had reflecting on a strong earnings season so far. let's dig deeper into the numbers. we will look at the wider corporate sector, but first the banks. the np relied on lower provisions for loans and a resurgence of equities business. let's get the analysis this morning from jonathan tice, our senior eu banks analyst. looking at bnp, looking at bbva, a beat on the provision. we see provisions coming down. is

the asian development bank says getting back on the path to growth will require a vast amount of government and private funds. plenty more still ahead including find out why the. investigation concerning the prime minister. changing course we look at how american foreign policy has moved in a different direction during his 1st 100 days in office. insists he's very serious about buying also. now on the eve of his 100th day in office u.s. president joe biden is due to gave his 1st speech to a joint session of congress it's an opportunity for him to update americans on where his election promises the pandemic and his $1.00 trillion dollars spending plan likely to feature prominently speak to an official who joins us live now from the white house so i know plenty to talk about what do we expect. well we haven't gone this deep into the farce terram of a presidency before a joint meeting of congress remember every year we have the state of union is different in the 1st year apparently there were shared feeling difficulties but many people suspect that joe biden wanted to delay it till around 100

the asian development bank says getting back on the path to growth well requires a vast amount of government and private facts largely al-jazeera. oh plenty more ahead here on the al-jazeera news hour including we'll be telling you why somalia's president has decided not to extend his term and calls for early elections also tension in the gulf as u.s. and iranian military vessels confront each other. and p.s.g. stars prepared to face manchester city in the champions league semifinal later we'll hear from them in sports. at least 3 people are being killed by a car bomb in somalia's capital it happened on the western side of mogadishu another 7 were wounded the target was the headquarters of the national prisons authority is the latest outbreak of violence as somalia deals with political turmoil and somalia's president has agreed not to extend his term and is promising to hold elections mohamed abdullahi from majia had faced a growing rest on the streets of the capital mogadishu many people have been fleeing the city and residents fame or violence as armed opposition members take a positions.

haidi: the asian development bank president.untie more to come on daybreak australia. -- plenty more to come on daybreak australia. this is bloomberg. ♪ shery: a quick check of the latest headlines. caterpillar is warning that the chip shortage could impact results later this year. the company beat sales and profit estimates in a strong start to 2021 with revenue rising 12% to almost $12 billion on the back of construction growth in china and the u.s. it put a damper on expectations, saying it may not be able to meet equipment deliveries due to a shortage of semi conductors. china's largest lenders posted profit growth below three percent in the first quarter as policymakers leaned on them to rein in debt. the pboc last month asked major lenders to curtail loan growth for the rest of the year on concern over bubbles. chinese banks benefited from the economic recovery after the worst turning slump in a decade. moody's became the second major writing firm to downgrade china huarong asset management this week. huarong remains on wa

the asian development bank says getting back on the path to growth will require a vast amount of government and private funds lawrence lee. still ahead here on al-jazeera i'm simona fall in iraq the desert close to the border with saudi arabia where nomadic tribes a struggling to cope with the facts of climate change. as diving for cover how this boy go to himself out of harm's way and major league baseball game that's coming up it's cool. cool. but again let's get straight on to this board has just. thanks nic despite being in a state of emergency organizers of the olympics are pressing on with their plans to stage the games in just over 3 months as the torch relay continues a new set of coronavirus measures has been released after least during the olympics we tested daily and banned from visiting tourist areas shops restaurants bars or gyms and they must wear masks at all times except when eating drinking sleeping training or competing there are more specific details in rules and guidelines to ensure this health and safety and they can give confidence and they show how diligently. japan i

from the pandemic but some parts are bouncing higher than others will find out more from the asian development bank. and is portugal set to be common in silicon valley. this is the w. business i'm joined now the.

year's learning on average that to substantially reduce future earnings and productivity the asian development bank says getting back on the path to growth will require a vast amount of government and private funds lawrence lee al-jazeera. is there with. top stories india has seen its worst day so far from the crowd a virus with nearly 3300 more fatalities taking the official toll past 200000 but the. thought to be much higher and it's withdrawn and has more from new delhi. the situation is such. that people family members from hospital to hospital to have loved ones admitted. predatory and to have a toy. to hold funerals in a country. held as soon as possible just because of custom but because of the very hot temperatures because of a shortage of mortuaries facilities and as the situation unfolds we have international aid that's been evolving in the country for the last 2 days a lot of different oxygen supply that is concentrated sterile ventilator the british prime minister has denied allegations that he tried to get party donors to pay for renovations to his official residence boris johnson says

money if there's no money how can you develop the pipeline we got in touch with standard bank and this is what they told us because some of the big financial guys asians he would know me back big infrastructure projects like this the environmentalists are saying you shouldn't be doing this let me show you what they said to us and sent the statement to us send it banks new fossil fuels financing policy sets out stringent conditions for lending to fossil fuel projects among other conditions project owners must commit to minimizing of adjacent greenhouse gas emissions standard bank group statement a full 192021 so this is still confusing elizabeth i don't know how you can be extracting fossil fuels and also reducing greenhouse gases that i think that some kind of magic that i'm not aware of does it even occur to you as something is working fossil fuels that you need to come up with a solution is there another solution that's renewable sustainable and not to do with extraction is that possible. i mean they are the solutions as i've told you jane if they dump. more. as well as uganda but it's still in its and i'm still of the opinion that there is a partic