is the central bank of india the bank of into they have a central bank and their own bank of india supports a fee on money system that is open to all terrorist them. and actual terrorists to print and buy arms and kill each other and they call the g.d.p. growth korea paul krugman york times is g.d.p. growth not far from nine eleven o'clock paul krugman celebration nine eleven as a g.d.p. booster is like oh right let's go to our car well of course indian people themselves are the biggest holders of gold so they at least were a little bit more i mean you to the ravages on to the economy in the financial system of the monetary system which economists and the brilliant geniuses of harvard inflicted upon them whether or not merican their europeans are going to be as well protected when their schemes these q.e. and all this sort of nervous stuff unfold but now let's look at some of the consequences max exactly how disruptive was to monetization well it may have eliminated over five million jobs is certainly ensure that growth slowed for weeks hundreds of thousands of small businesses str

of a headwind. the former central bank governor of india.onald trump could be seen as a wind by an administration clouded by scandal. what can each country gained? from the standpoint of malaysia, it is about business and investment over the past couple of years, there has been chinese investment coming through. possible news about the chinese president will be that way so perhaps this is donald trump flying the american flag saying, we used to be great ballets perhaps we can talk trade. —— rate allies. getting malaysia in an environment of unity... in terms of trade and investment, how is the prime minister going to get any investment out of the us when he is clouded steel in corruption. the fbi still have an did and open investigation into one in "bibi" which is the big state fund that he is alleged to have misappropriated. 1neb. you see the private sector, business getting on with life. i think they look beyond 1nedb. until such time as they impose sanctions, i think life still goes on. in other news: google is appealing against it record

later, an interview with the former reserve bank of india governor vice-chairman of the ,ank for nationalettlement what he says about the outlook for central-bank policy. a big show coming up and we are already remittance into the u.s. trading sessions. julie hyman is here to give us a rundown. >> more negative when you look at the nasdaq here today. rundown. we have appear the 10 year yield . we seeing some buying but not much as the 10 year yield fluctuates above and below unchanged. i'm talking about the 10 year yield. interesting here, we are seeing a change in session and for the u.s. treasury market. take a look at the bloomberg in terms of positioning. asset managers on out net short the 10 year treasury contract -- contact. this is the first time this year they have been. in other words, the view is that yields work -- will continue to rise. ofwill hear from a number different fed officials this week. the commentary has already begun and we will hear from janet yellen tomorrow. that is pertinent to the positioning of we will see if it does indeed stay in this direction. two stocks

the former reserve bank of india governor. that is at 10:30 a.m. in new york. 3:30 p.m. u.k. time. oubles we are seeing in india as the reforms are lagging. this is bloomberg. ♪ what did we do before phones? they save us from getting lost, getting hungry, and getting tired of places like this. phones changed everything - shouldn't the way pay for them change too? introducing xfinity mobile. where you can pay for data by the gig, and share it across all of your lines. no one else lets you do that. see how much you can save when you pay by the gig. xfinity mobile. it's a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. francine: this is "bloomberg surveillance." these are live pictures from germany. this is the ader of the free democratic party. people say it's thanks to him that his party did so well. young, dynamic, this is what people are telling us. huge turning a point for angela merkel as she tries to regroup after her victory scioscia needs to find some kind of alliance. we know mr. lindner wants to talk about what happens with greece fro

banking people. the former governor of the reserve bank of india says the country must fix growth if it is to providenough jobs for the world's biggest workforce. slowedafter expansion the 5.7%, he said the pace needs to step up. growth, if it stays at six or so rather than going to eight or nine, it would imply we have a harder time and dissolving this labor force aming in, which creates concern about what kinds of actions you take going forward. juliette: global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. anna, matt? matt: thanks for that. russians central bank is said to discuss a reduction in its key interest rate by a five -- .5% according to the governor. in an exclusive sitdown, guy if she wased her likely to be more cautious, given the recent volatility in the inflation data. forecast, never give and never give estimates of what we would do with the policy. it will be up to the board of directors who will make a decision at a subsequent meeting. if you look at our track record during the past year, both have taken diff

we bring in former chief economist at the bank, and former chief advisor to the bank of india.g us. my question to you, for so long, india's gdp, 8% was a number everyone was looking at. this slow down, can we make this link to demonetization? >> i think the link is fairly clear. 2008 ats from 2003 to 8.59%. there was a bit of a shock in 2008 because of the global crisis. it picked up again over 7% and now it is down at 5.7%. the biggest driver of the slowdown is the demonetization in november of last year. currency. the it was given a four hour notice that would cease to be legal tender. that shock is playing through the economy. i knew it would go down. but 5.7% is bigger than what had been anticipated. you say, a lot of people may have expected the economy would slow down. but in theory, a could have been worth it if there was a big removal of dirty cash out there. but the big shocker it seems is that nearly all of the bills made in -- invalid did come back, suggesting there was not that much illicit cash in the first place. how did the get -- how did the government miscalcu

carney said last night, did he step back from the perhaps more hawkish tone that came out from the bank of indialso talked about the global equilibrium in rates, rising in monetary policy, moving to stand still. an upgrade, 1.33 by the end of the year. there arehester, risks to the bullish view. anna: the currency team at nomura. paulound did fall again mark carney was speaking, more dovish interpretation than thursday. but having said that, in the european session, the pound has gained momentum. let's have a quick look at the bond markets. bundis the price on the future. we talked a little bit about the bond market and what could be in it for them. manus: nick says when it comes to tapering, obviously what they want to avoid is a taper tantrum, but you could break through that .06% and it could happen quite quickly. anna: let's get an update on the first word news. here's juliette saly. juliette: thank you. in the u.s., president trump will use his address to the united nations general assembly to call on world leaders to confront north korea and iran. trump, who has been critical of the u.n. i

reforms costing growth now will boost growth later, and actually pave the way for more reserve bank of indiaback on monetary policy this week. kathleen hays there in new york. societeus now is generale's asia pacific chief economist. this line that bloomberg intelligence came out with, not expecting much in terms of that rate trajectory this week, but more details as to what the balance sheet unwind looks like. this is a tightening of policy by largely and tested means. do you think we are underpricing the risks? >> we may. it is difficult to answer. it comes to what the market is discounting in terms of interest rates, we have futures and instruments that allow us to get what the markets are thinking. in terms of the balance sheet, we don't have that. i don't think markets are as incredulous of the fed's own plans when it comes to the balance sheet unwind, but we cannot be sure. now pretty much everybody does expect the fed will say we will start the program, probably october. although, nothing really runs off until the end of the month. that will give the fed some time before they consider

later, an interview with the former reserve bank of india governor vice-chairman of the ,ank for national

means the slowdown may be even more severe than the latest figures suggest. 0n wednesday india's central bank said 99% ofere banned have already returned to the system. analyst for it makes the cash ban a failure. the exercise was aimed at weeding out unaccounted wealth or so—called black money. the worst the economy may still not be over with the introduction of the gst which came into effect injuly. this reform is expected to overhaul the way businesses pay tax in india. small businesses are finding it difficult to adapt and this will delay expansion plans. the imf and world bank had estimated india's economy would grow by more than 7% in 2017 out with these latest figures coming in, the target looks difficult. to achieve. chinese president xijinping difficult. to achieve. chinese president xi jinping will be meeting with resilient president later today ahead of the ninth annual summit of nations known as brics. china is now the south american country's largest trading partner. brazil recently came out of its worst recession in history written by agricultural growth. as a south american correspondent r

the former governor of india's central bank said he had warned the government the project was a bad ideahort—term costs. especially if you have not printed the money necessary to replace what was taken out. what we have seen is the short—term costs have materialised in one way or another, that transactions... there is evidence that the fun of considerably. you can see it in the gdp numbers. at beating anything precisely is difficult but gdp has slowed. the hope is this is a temporary phenomenon as the cash has been printed and has gone back into the system. the demand for cash has tapered off. but in general, that means, for a period of two or three quarters, we have seen a slowdown. that is certainly evidence of short—term costs. longer term benefits are things like tax compliance. we have seen some blip in tax payments. it is hard to attribute that precisely to the monetisation but the jury is out. we will have to see if we will see enhanced tax compliance. a quick story from here in the uk from cornwall. the region is one of the poorest in the eu but it could be sitting on a multi—bil

vice—chairman of the federal reserve, stanley fischer to hand in his resignation to president trump, adding to the turbulence at the us central bank as it now faces a host of vacancies at senior levels. india'sst film of the summer exposes a major problem across the country. this is in the new york times. the film is called ‘toilet, a love story‘ and it speaks to one of the country‘s ‘most serious public health concerns‘ — 1.3 billion people and not enough toilets. ultra—thin models ‘out of fashion?‘ the financial times looks at a ban by french luxury fashion groups of models under a size 32, that‘s a uk four or a size zero in the states. the brands include louis vutton, christian dior and gucci. and, in the daily telegraph, ryanair is banning passengers from using wheelie bags as hand luggage, over claims that customers are abusing its "two items" rule and causing delays. let‘s rule and causing delays. have a look at all of that. have let‘s have a look at all of that. we have micaela with us from the european bank for reconstruction and development. it makes sense to start with the hurricane. notjust the devastation but the cost. it is huge. i have been in typhoons and they are frightening.

vice—chairman of the federal reserve, stanley fischer to hand in his resignation to president trump, adding to the turbulence at the us central bank as it now faces a host of vacancies at senior levels. india's is in the new york times. the film is called ‘toilet, a love story‘ and it speaks to one of the country‘s ‘most serious public health concerns‘ — 1.3 billion people and not enough toilets. ultra—thin models ‘out of fashion?‘ the financial times looks at a ban by french luxury fashion groups of models under a size 32, that‘s a uk four or a size zero in the states. the brands include louis vutton, christian dior and gucci.

it was the fifth straight quarter of slowing growth and raises pressure on the central bank to keep rates lower for longer. imports in indiakorea fell short, trade surplus of $7 billion. it follows second quarter gdp growth of 2.7%, same as the previous estimate, and core consumer prices jumped 2.6% from a year earlier. the bank of korea held its key interest rate steady on thursday. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. rishaad: it is normally a closely held secret, china setting the date for its twice a decade communist party congress, the biggest political reshuffle since 2012 with much of the top leadership slated for replacement. it should allow president xi jinping to tighten his grip on power. what can we expect when this new standing committee has announced? >> a number of scenarios. ,hen the curtains are unveiled does president xi jinping signal he wants a third term? depending on what he does, it will provide clues into that. he could reduce it to five andle from seven right now stack it with some allies and that would be an in

of my colleagues yesterday would rather eat grass to give up on the nuclear program. plus the syrian army banks by russia moves toward the north to be kilometers of ice and stronghold india resort look at the recent councils to retake the city for the first time in three years. and staying in the middle east auntie's big exclusively to the deputy chief bill.

interesting area of overlap between generating digital identification and account opening, which india of course has done really well. here, particularly for people who are under bank and have a significant documentation problems, digital i.d.s would be really useful. i think that combination of the digital identification as well as providing more opportunities for simple basic accounts, that is also something that we could learn from other places. and then finally i think a lot of the experiences have shown both here and in africa and india as well as south asia is that there is a market for people who are doing very small frequent transactions. and i think we need here in the u.s., we need to revisit how it is we encourage innovation around that and how it is we regulate around that small but frequent transactions. >> thank you. thoughts for how the united states can improve our inclusion landscape? >> look, john, i'm not an expert in the united states. but that doesn't prevent me from answering. this is very easy. you guys in the u.s. have to go see what is happening in the world and go copy and paste. copy and paste. let, for example, fintech grow in the united

of 1%. the commodities space, positive most in australia banking stocks lifting the asx 200 by .7% and indiathe last hour or so doing very well like 1%. what is moving in terms of index points, it is a lot of that tech players, tencent, and others doing very well. australian banks are also doing very well. we have seen some movement coming through as well in the carmakers in hong kong and china which rallied hard yesterday on the weekend announcement from china of the push toward moving away from fossil fuel vehicles. if you look at some son, of course, apple's biggest competitor is a little bit street. australia as well, citigroup saying that amazon could launch in australia within 60 days. we have seen what that has done to the supermarket giants in the u.s., one amazon took over whole foods. speaking of australia, a little bit of doubt coming through in terms of business confidence. fallen to the lowest level we have seen since november 2012. garfield reynolds did this chart which you can see in the m-lab function showing that if we continue to see downwind coming through, consumer sentim

plus the syrian army banks why russia moves to within a few kilometers of ice cold stronghold india as your we look at the recent battles to retake the city for the first time in three years.

plus the syrian army banks by russian moves to within a few kilometers of i still stronghold india as dog we look at the recent battles to retake the city for the first time in three years. and staying in the middle east r.t. speaks exclusively to the deputy chief of the lebanese military group hezbollah and its battle against terrorists in syria. hello there it's nine am here in moscow and you're watching r.t. international with me making arun good to have you with us. the u.s. envoy to the united nations says diplomacy is failing with north korea after pyongyang conducted its largest ever nuclear test on sunday the u.n. security council met for urgent talks following north korea's announcement that it had conducted a controlled hydrogen bomb explosion the impact of which triggered an earthquake in the region but so far it seems the united nations has been unable to come up with an alternative or new solution for the crisis. and enough is enough i think enough is enough the stakes could not be higher the urgency is now time is short action is required are countries patience is not un

of august, the bank holiday weekend. six men and two women lost their lives, including the driver, from nottingham. his passengers, originally from india re passengers, originally from india, were on their way to catch that eu rostar were on their way to catch that eu rosta r to were on their way to catch that eurostar to france. a five—year—old girl was amongst those left seriously injured. david white staff, he is 53, is charged with eight counts of causing death by dangerous driving and four counts of causing serious injury. today, he was granted bail on the condition he does not leave the country without permission. a polish lorry driver also charged with causing death by dangerous driving and with causing best death by careless driving whilst over the limit appear before magistrates last month and was amended into custody. this was david white staff's first court appearance but matters as serious as this can't be dealt with at the magistrate's cord, so both lorry drivers will appear at aylesbu ry crown lorry drivers will appear at aylesbury crown court in two weeks. a crash on the mi near northampton this afternoon has seen a lorr

of april economy which is based on cash. banking system, credit cards, internet shopping are less sophisticated and widespread in india than otherhe last couple of months we seen the government introduce a new sales tax, companies were confused about how it would work, those two effects seem how it would work, those two effects seem to have slowed the economy marketly. it. was expected to be over 6%. marketly. it. was expected to be over 696. let's talk about uber, a change of leadership. they‘ve had a difficult past, shall we say. they might have thought the new ceo would bea might have thought the new ceo would be a new chapter and beginning, but already they‘re having to talk about already they‘re having to talk about a bribery allegations. how is the company? well, it's too early to blame the new boss for that one t happened before him. this reminds me, when i was at school we did a history course on the age of expansion, conquering mexico and carving out an empire for spain that made individuals wealthy. if you think about internet companies that have done well they‘ve been like that. once it was conquered the spanish sent

of india's stock market by foreign funds. local investors are still investing, which is an interesting story. the other thing that happened was it set up a trigger of investment banksk their growth forecasts for the year. carol: apple's shiny new thing, but will you pay $1000 for an iphone? oliver: hong kong's one-stop shop. carol: this is "bloomberg businessweek." ♪ ♪ carol: welcome back to "bloomberg businessweek." oliver: keeping catches on the radio at sirius xm channel 119, am 1330 in boston, 9901 fm in washington. carol: and in asia on the bloomberg radio plus app. oliver: apple is getting ready to sell the most expensive iphone ever. how much are you willing to pay for augmented reality? mark: there have been a lot of expectations about what they would introduce. seeing it live, how it's put together and get hands-on with the product is totally different than knowing or expecting what is a come. i think the iphone x was an oppressive launch. it was something they needed to do and it lived up to the expectations. apple finally embracing any type of phone design. oliver: give us the quick rundown on the specs. mark: the iphone x has this 5.8 inch diagonal edge

of them! obama got swamped real quick. the export-import bank uses our tax dollars to provide subsidized loans and loan insurance to foreign buyers of american goods, if air india wants to buy planes from boeing, exim will loan them the money at below market interest rates. i'm not sure if the american taxpayers are fronting the money for it, but the defenders of the bank claim it exists to support american small businesses. really? over 60% of financing helps 10 giant corporations like boeing, caterpillar, ge and bechtel, the same giant corporations that spend millions in charge of the export-import bank. every year, a few dozen members of congress set the defense department's budget. a job which practically guarantees huge contractors. they received on average $430,000 from defense contractors. it's more of a jackpot if you chair one of these committees. come on down dick durbin of illinois, the second highest-ranking democrat in congress, and someone who is constantly popping up on tv screens pomp usually pratteling on about the trump administration's ethics violations. durbin became chair of the subcommittee which led to a wave of cash that made him the top

banks to defend their currencies and economies. the bigger picture remains that if you wanted to get a pan-regional omelette out of india, korea, and japan and eggs from beijing, that is not the biggest worry. the biggest worry is the fed and the global backdrop. haidi: i think that's all the food puns i can take. bloomberg's top ranked forecaster. we ask where the currency is headed after the party congress and into next year. this is bloomberg. ♪ ♪ haidi: this is "bloomberg markets: asia." i am haidi lun in singapore. david: i am david ingles in hong kong. a quick check of the business flash headlines. ge's cost-cutting plan targeting a high profile area, corporate jets. the new ceo john flannery is eliminating $2 billion by the end of next year. starting now, flights on executive planes will be scaled back and replaced by charter. he wants to increase earnings and reversed the biggest stock slide on the dow. haidi: an indian binding $2lionaire plans to spend billion on anglo-american shares, 9% of the company. investment and he does not intend to launch a takeover bid. stake started build a 12% . it has been benefiting from reco

a lot of people in countries such as india and all over developing countries trust banks and financial -- and middle men less than they trust the mobile phone. so our feeling that they don't trust the mobile phone. no. it's the other way around. so that's way it comes back to what you've just said, which is that the -- you know, existing financial institutions are not geared and not interested generally to make the change. and in india we've been trying for ten, 20 years. it was only when the new fen tech people just through e-commerce or whatever grew that we've got pt n's and others. but i won't go into detail. we can talk later. my question to you is to what extent is the issue of identity, you know, digital identity a critical factor in financial, inclusive financial, financial inclusion? as you know in india we have now put 1 billion people in bio metrics and become very controversial, our supreme court has it. on the other hand, the issue is should everybody have a social security number. it's really as fundamental as that. to what extent has that been a constraint in finding inc

a lot of people in countries such as india and developing countries trust banks and middlemen less than they trust a mobile phone, so that's why it comes back to what you just said, which is that existing financial institutions are not interested generally. in india we have been trying for 10, 20 years and it was only when the news in tech people grew that we caught atms and others. i won't go into detail. my question to you as to what extent is the issue of identity, digital identity a critical factor in financial-- inclusive financial-- as you know in india 1 billion people biometric, people are worried. on the other hand should everyone have a social security number? it's really as fundamental as that. to what extent has not been eight constraint in providing inclusive finance or not? >> did you want to answer? i think it's been a huge constraint because in many many countries people are very immobile. they don't have fixed addresses they don't have identity papers. all of those things that are typically required by banks to satisfy, know your customer role etc., so it becomes a real

of them! obama got swamped real quick. the export-import bank uses our tax dollars to provide subsidized loans and loan insurance to foreign buyers of american goods, if air india wants to buy planes from boeing, exim will loan them the money at below market interest rates. i'm not sure if the american taxpayers are fronting the money for it, but the defenders of the bank claim it exists to support american small businesses. really? over 60% of financing helps 10 giant corporations like boeing, caterpillar, ge and bechtel, the same giant corporations that spend millions in charge of the export-import bank. every year, a few dozen members of congress set the defense department's budget. a job which practically guarantees huge contractors. they received on average $430,000 from defense contractors. it's more of a jackpot if you chair one of these committees. come on down dick durbin of illinois, the second highest-ranking democrat in congress, and someone who is constantly popping up on tv screens pomp usually pratteling on about the trump administration's ethics violations. durbin became chair of the subcommittee which led to a wave of cash that made him the top

bank and g.b. is a product of the meeting of the minds that occurs at breaks summits where leaders from brazil russia india. china and south africa meet each year now like its name the goal of this debate is to provide loans and foster new development with emerging economies while at the ninth annual bric summit in sharm in china last week i sat down with k.v. comment the president of the new development bank which many consider to be an alternative to the world bank or international monetary fund i asked him how n.d.p. sets itself apart from other global financial institutions. i would put it in context of the n.d.p. you can understand that he is a product of the song it is aspirations of the developing countries to try and stand on their own feet in so far as the point assistance is concerned. complements and supplements at all of other institutions but at the same time it makes the statement that. developing countries would like to stand on their own feet now the n.d.p. has already provided billions of dollars in loans just since two thousand and sixteen what are some of your goals for the coming year b

india's august inflation accelerated to the fastest since march, exceeding expectations ahead of the central bank'sreview. theas 3.36%, ahead of analyst estimates. inflation is now closer to the upper limit. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. betty: leon cooperman is back with us. he is known as a value investor for his stock picks. he is back here with the conversation. earlier at the conference you picked out five cheap stocks. wpx, andontinental, others. why those five? leon: as i mentioned this morning at the conference, i look at the s&p 500 to see what i have to pay for dollars and earnings growth. these companies are growing at a superior rate. airlines could probably compound earnings over the next few years at a 15% clip. 35% or 40% fork a stock repurchase. they generate substantial free cash flow. i think it is seven multiples of earnings in the market is trading at 18% -- 18 times earnings. you never see a stock down without a reason are up without a reason. in the 1970's american motors stock was going up a lot. wou

paul: india's august inflation rate accelerated the fastest since march, exceeding expectations ahead of the central bankconsumer prices grew 3.36% ahead of the median estimate. that is up from 2.36% in july. inflation is now closer to the upper limit of the rbis expectations. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. david: appreciate that update. after a year of poor performance , family office investment returns rebounded, an average of 7% for the year. before that, 0.3%. that is according to a report at of ubs. we have that new report out. here it is. not too long. this is the press release. what does this mean? let's get it from the source, ubs wealth management global family office head in the asia-pacific. thank you for coming on. 2016 was a decent year. 2017 is a bit of a turkey because risk assets have still rally, but have you seen any changes in the risk appetite, what key trends of form so far? >> 2017 has been has good a year as 2016 so far. management,t risk family offices in asia and globally are more risk a

of what india has. we have to compete with them in the future which means we have to get our bank for our back. we have to develop our people and get serious about this. we cannot use them as ponds for -- we cannot be using them as in a political steve: how do we get there? game. what is the role of washington and government? dr. carson: they have to work together. you have seen a coordinated effort with hurricane harvey and irma. we have to have the same kind of seriousness when we think about education that we will provide for our children. and when we think about the development of our people. we have a lot of people who could be developed. i look at the fact we have 5% of the nations world population, but 25% of the inmates. think about all that lost potential. a lot of those people who end up in the penal system, they grew up in a horrible environment. probably with no authority figure in their lives. the first authority figure they run into is a policeman, in a case it doesn't work out and they end up in this situation that is not nurturing. we need to spend time thinking about, are there

india as we have in china, not enough material, not enough stock. we need more listings of big state-owned enterprises, railroads, banks, insurance companies. ie: top risks about india? >> top picks in terms of sector would be consumer and what is happening in the internet space. with the reliance on smart accessible to 500 million people, it will be an incredible boom in every direction. we have to watch that carefully. tech stocks of by mostly across asia. shery: thank you for joining us. a whole hour, so that is great. we were discussing india and emerging markets. pressureeing downside across markets in asia and geopolitical tensions gaining ground, having an impact on everything across assets. angie: we're hearing from a lot of people with cash on the sidelines getting ready to go in, but the emerging-market picture as it pertains to mark mobius, it is still very helpful and healthy. bloomberg markets: middle east is coming up next. this is bloomberg. ♪ >> the following program is a

india, it ends up being indonesia. the simple reason is, countries where you have a lot of chinese companies that had gone there, they used to get their financing from chinese banksht now what is happened has happened, is china is shutting that off. you are able to lend to those companies and make anywhere between 15% to 20% and you are able to use the legal system of those countries. frost australia, for us, i'm able to use a legal system that , and i'ms very good lending at a senior level and doing it at a 40% discount. >> specifically australia? >> it is all very idiosyncratic. you have to find those situations. >> do you worry about economic backed up there at the moment? >> i worry about everything. i have a lot of issues. so we have heard where mark thinks there are opportunities. we have been following the big banks. there is just not that much volatility in the marketplace. that plastic pond that jamie described is difficult. where do you see opportunities? >> there is good times to buy stuff and good times to build stuff. ,e are having a ton of success the big energy infrastructure business we started a few years ago which is one of the most remarkable t

it's not just about the billion trillion dollars of debt it's not just about the banks it's not just about the government to my real. deep in southern india a secret construction project a small concerns about the country's growing nuclear capacity if you're saying that to be a enlarging option if you know amid fears of an escalating arms race with its neighbors elisabeth's a lot of nuclear the which the indians may claim there did is a dent in china but it's bob's indians fault when to go see and have a bush that was the so what lies behind india's nuclear or do people in power investigates at this time on al-jazeera. i'm certain in london with the top stories on al-jazeera it's been a major breakthrough in the long and bitter dispute between rival palestinian movements hamas and fatah hamas which has ruled gaza for ten years has released a statement saying it is willing to end its feud with factor which controls the occupied west bank has agreed to dismantle the administers of committee that runs the strip and held elections. hamas the hook but i was hamas made a courageous serious and patriotic decision to dissolve the administrative c

in the occupied west bank japan's prime minister shinzo has broken ground on a project for india's first bullet train the development of strengthening economic ties between the two countries as craig leeson reports. a welcome fit for royalty india's prime minister narendra modi blessing japanese prime minister shinzo and his wife for their friendship and the economic gifts they bring with them it's an important visit preparations in modi's home state of gujarat been going on for months. no trip to india would be complete without a visit to its famous tourist locations but eventually it was down to business tokyo is now india's third largest foreign direct investor helping it develop everything from its roads and buildings to its automotive industry and the scope has become even bigger with the launch of the new bullet train project. japan is a pioneer of high speed rail networks and the project at the center of this collaboration with india is a high speed link between i made a bet and mumbai india's first high speed train and one which will significantly reduce the travel time between the two cities. japan is providin

jazeera is that because we have a bank of nap or people would come for us and actually show and meet with the al-jazeera team into that that. ever since i was a little boy in india my dream was to me but he would films so five years ago i decided i was finally queen to do it one man's quest to realize a lifelong ambition the story i choose the laws of my one village and it's transformation going behind the lens has gone from saying brings his personal story to life. al-jazeera correspondent my own private bollywood at this time. more tales of horror. violence in me i'm on the un says half a million refugees have now crossed into bangladesh. canada i'm already watching al-jazeera live from london also coming up. russia's president putin arrives to meet his turkish counterpart now working together syria despite past disagreements. china orders north korean companies in the country to shut down as the chinese vice premier high level talks in washington. take you to the japanese museum showcasing work from an artist known as the queen of polka dots. the u.n. and international aid groups say more than half a million refugees have now fled to bangladesh since violence

india's problems of debt including government and corporate debt, they go back a very long way. they are significant government problems there, not least having to do with state owned bankslota is not a whole different, except the acceleration in the loans and credit growth has been absolutely astounding. i do not think anyone has ever seen anything like it before. and of course, it is not just the level of debt that is worrisome, it is the speed at how much the debt is accumulating, which leads you to believe that perhaps the vetting of the loans has not been as careful as might be. and that some of these loans should have never been made, will not be read paid or reservist. that will create problems for people going forward. yousef: he are putting out these warning lights, the worst and most difficult conditions since the last a national crisis, too much debt out there, let us talk about the solution. with a person of your track record, what would you recommend in terms of a prescription that central banks should adopt to try and address those risks? >> i think the fundamental problem yusuf, is that we do not have a liquidity problem that central banks can solve. the u

$5,000 in their bank account, and they used it to send me here by myself when i was 16 years old to go to college. it's a sacrifice i've never forgotten. they still live in india because of our broken immigration system i've never been able to bring them here. it took me 17 years to get my citizenship. anyone who thinks it is an easy process, let me give you a little bit of education about how tough it is even when you come here with documents. it's incredibly difficult. and i'm just so honored and grateful to the united states of america for taking me in and for taking in so many people and for being something that i really think no other country in the world is, this beacon of hope and opportunity for people around the world. host: went to college at age 16. georgetown university. got your b.a. there. went on to get an m.b.a. from northwestern university. guest: yes. host: at what age did you graduate with a masters? guest: let's see. i must have been about 24 because right after my b.a. i actually went to work in finance and in the private sector and then went and got my m.b.a. and then decided i wanted to devote my life to social justice and so i went to work for non