let's bring in our correspondent, haslinda amin. there were a few surprises out of this budget. ht. surprised to read has substantial reserves to draw from, but that not a long-term solution for the country, hence the slew of tatts is announced in the budget. gst won't get to 9% from 7%. important to note that gst in the height, singapore will be among the lowest in asia. the taxes to be implemented, a tax on online, video, music streaming, the likes of netflix, plus a carbon tax of five dollars a ton to raise between $10 and $13 a ton. industrialect large facilities, companies that produce at least 20,000 tons of greenhouse gases per year. of, they account for most singapore's greenhouse gases, so like i said, a slew of taxes, on income for revenue from state-owned investment companies the likes of gse, the likes of -- key spending priorities for the country in the coming year will be on health care infrastructure , which will rise to 3% of gdp over the next decade. yvonne: that was a surprise that we were not expecting. what are the details here. what if i could that have on th

haslinda amin. may'sda: yousef, theresa team with holding of pounds in brexit payments if the e.u. does not give the u.k. the trade deal at once. whilst the move is not the option, it could be necessary in case that you tries to raonic on ge on a trade deal. mark carney says he is already bracing for the you k's rental crisis wealth -- u.k.'s crisis. he is planning for bank failures providing extra liquidity and levels. higher capital carney says accepting the crisis will happen is the best way to prepare for it. the head of opec says the rebalancing of the oil market is gaining traction. cartel, russia, and other producers are looking at ways to continue cooperation later this year. he does not want a return to the market volatility and downturn we experience between 2014 and 2016. deutsche bank is said to be eliminating jobs around the world to keep a lid on expenses. we are told to hundred 50 positions have gone. the number could top 500, trading. with bonuses pushed businesses into the red. the

let's get you to first word news with haslinda amin.r isthe aussie little changed as employment edged higher in january, adding to signs the rba will hold rates for now. 16,000 jobs were added, just above estimates, although full-time positions plunged by almost 50,000. the unemployment rate went down to 5.5%. despite a healthy jobs market, wage growth and inflation remained tepid. compliance tohows opec curbs has slept. the rates among the 10 non-cartel nations fell in january, the lowest since july according to bloomberg calculations. russia is responsible for more than half of non-opec cuts and achieved 93% compliance. mexico exceeded 100%. russia is eager to be part of the anticipated saudi aramco ipo. banks in a joint fund with china are interested in participating when the kingdom sells a stake in the company in what could be a record listing. the ipo is the centerpiece of saudi plans to wean the economy off oil. the government could valley aramco at $2 trillion, although some analysts have offered lower amounts. washington is pus

before that, first word news with haslinda amin. to repeal existing term limits on the presidency to allow xi jinping to rule beyond 2023. the communist party says it wants to remove the constitutional provision barring the head of state from more than two consecutive terms. that would remove the only formal barrier to xi staying in power indefinitely. the move was first proposed that a party meeting last october. china's drive to cool the property market continues to work with home prices rising in january. new home prices, including -- excluding state subsidized to 52 comparedd with 57 in december. they were unchanged in five cities. the government is experimenting with ramping up rental supply well fine tuning existing control. a proposal for mexican president enrique pena nieto to visit the white house is said to have been postponed indefinitely. two officials close to the president's diary declined to confirm a washington post report that during a call last week, trump would not agree to publicly confirmed that mexico will not

i'm haslinda amin.ets asia." david: markets across the asia-pacific extending a the euroglobal rally, weakness ahead. a barrage of data from japan. investors now turn to ae fed as jay powell prepares speech on capitol hill. his words could be all-important. david: president xi wins the power name in china. may stay in office forever. social media with support and criticism. and a goodwill tour of germany. the biggest shareholder in daimler. david: a lot of change there has , the changing ago of the guard when it comes to the auto industry. we have equities in the 120 six, roughly taking us halfway back. if you measure a picture trough, following the selloff a week and a half ago. a little bit of a reversal on dollaro-dollar and the that we saw on friday. the u.s. 10-year yield up one point to 86. the pricing around treasuries at the moment. has? aluminum and steel, david, because president trump is mulling whether or not he with paris on the two metals. will unclear if china retaliate on those tariffs.

in sydney, i am haslinda amin. david: and i am david ingles here in hong kong.david:fter retreating from a 15 month high. haslinda: bitcoin breaks through $11,000, although another critic raises doubts. the bank of england boss calls it a failure. david: struggling noble, we will see if there's any value left in asia's once dominant trader. ♪ david: will be live outside h is ec -- there we go, outside hsb c's headquarters with stephen standing by. their earnings report will be coming and we will be live with what to expect and also them analysis in regards that from bloomberg intelligence. the silver lining, we are coming off the lows from today with the nikkei 225 on the sway back up. let us look at warmbier seeing across assets here. currency markets are going down a bit. the story, that is driving markets, rising bond yields and treasuries. two-year at its highest level, and we are approaching 2.93%. haslinda: it changes so quickly, dave. i would like to point out a stock that we are watching, a company that has been in the headlines for ever, noble. the stoc

haslinda: i'm haslinda amin. manpreet gill is still with us.at extent has the currency market factored in future rate rises. manpreet: to some extent, but it is not fully priced in. we are most closely watching the euro dollar. on the dollar side, we have seen a lot of repricing. i think europe is most interesting where the market is by 2019 and wein think that is where the market may be underpricing risk. that is why we like the euro so much, a good entry point. haslinda: how much higher for the euro because it has already reached the levels targeted by a lot of analysts already? manpreet: i would worry less about the level then interest-rate futures in terms of what the market is pricing in in 2019. when we go back and see what type of pricing, i wouldn't be surprised to see us go over 1.25. expected,ster than we but going back above 1.25 isn't difficult. david: when do you think the first rate hike will be? the first half of next year, ecb? manpreet: next year would make sense, to mirror the fed to an extent where it eases up on its qe progr

haslinda: i am haslinda amin.billion launch just in time for the new year. the senior executive director told us that will not affect demand. >> we are very solid in that is why we had to go out there. we have a lot of people who wanted to visit us in cotai, and also friendly, in our property in macao. macao are also very strong. >> you were allotted 120 five gaming tables for this property, which was less than what was expected of 100 an150. what does this mean for the number of the ip tables you are going to be phasing -- the number of v.i.p. tables you will be phasing in? grant: for the opening date, we have the same number of tables that the others have. we will be building up two additional tables coming in the future. we will be working with the governor and, as we always will, to ensure we are in the best possible position. as previously announced, we are working primarily with a mass table institution. pretty soon we will be junket operators. by the time we get through to this year, i think balancing the t

haslinda: i am haslinda amin.is expected to win, as it takes the second location of its headquarters. they have ruled out tax breaks to try to win the race. amazon narrative to 20 cities last month and plans to make a decision this year. dimon says he will be on the phone the moments of the newsbreaks. >> i have to confess on the list for amazon is columbus, phoenix, dallas, chicago. these are places with 20,000 people. sure i will be calling the governor on this, i am not kidding. going to fight for your company, folks. if you don't, no one else does. ending services launched years ago. a phone number and date pin, well the other uses special payment codes. been told they are no longer available the end of next month. they were launched in 2012 at two change credit cards, but never caught on. uslinda: struggling toys "r" said to be in talks to sell its operations in asia to a local partner. talks to sell off the chain and offload the 80% stake in the venture. a hong kong billionaire who owns of the rest of the ve

i'm haslinda amin. >> i'm david english, welcome to "bloomberg markets: asia."e dealt, nerves back in the asia-pacific with markets pairing early gains. -- one of the days climbers after steve wynn stepped down. departure easing regulatory scrutiny. between her figures january before the lunar new year, the consensus is still for double-digit growth. haslinda: out of the rate spotlights, the philippines facing the tightest inflation in three years. welcome to our viewers joining us. lots to talk about. let's get a quick sense of where we are market wise. stocks are up, off the highs of the day. we are looking at yields on the way down. an ominous sign of things to come. haslinda: we are also looking at commodities, oil drawer -- dropping as record crude concerns supplies exceeding demand. thelongest slump since first week of september, gold has lost about 4% since hitting an 18 month hig

that is haslinda amin's joining us here. this is happening from 4:00 and 1:30 in hong kong and singapore and you can fund the big diary entries with some of the advances you might have missed out on. thatasino operator says people are returning to gaming tables that to their -- theyke with the ceo after announced a decline. what that reflects is and theting a quarter ves, there have's been a lot of happy gamblers there. it is fullness of time, -- >> you had to look at the crowded gaming rooms growing we are notand growing as much as we used to. that is why we have announced we need to spend too provide facilities to reignite the growth. we saw the significant reduction and we were down in the first half. >> did you take away any lessons from that? >> we have been on this journey and we can't rely on a source market. outstrippingowth north asia. this is now getting a really good traction. , how the main competitor much of an impact you see on that business? have three years or so to prepare and part of the investment we are m

i am haslinda amin in singapore.t fly much higher than nathan blecharczyk, today's high flyer. airbnb is listed in almost every single country on the planet.

i am haslinda amin in singapore.lippines in 1983, a high-profile assassination, a dollar crisis, a ban on imports, and the beginnings of a regulation that would lead to the downfall of ferdinand marcos. there were life-changing times for chris po, son of the country's tuna king, now chairman and ceo of century pacific food. christopher po is today's high flyer.

i am haslinda amin in singapore. 1983, aippines in high-profile assassination, dollar crisis, a ban one beginnings of a revolution. it was life-changing times for chris po, son of the country's king, now ceo of sentry pacific food. chris po

in i'm haslinda amin with the first word news. apanese exports gained for 14th straight month in january. they rose 7.9%. i drove the first japanese trade deficit in a month spare the strengthening yen remains a risk as it will make imports cheaper. china says proposed u.s. tariffs on imported steel and aluminum products are groundless and may reserve the right to retaliate if they are imposed. wilbur ross says the u.s. imports of aluminum and steel including a tariff of at least 24% on steel imports from all countries. isna's commerce department beijing will take the necessary measures to protect its own rights. noble group says it is confident that rebuilding its business and asia despite flagging a fourth-quarter net loss of up to $1.93 billion. they are restructuring talks with stakeholders have been productive per chair holders have criticized a deal announced last month to restructure $3.5 billion worth of debt. india's ceo bank says it has exposure of about $412 million to a fraud against a bank in a case linked to a billio

i am haslinda amin in singapore. the cofounder of airbnb, a billionaire several times over. airbnb is listed in almost every single country on the planet. a trailblazer of the sharing economy, he is today's high flyer. ♪ financially self-sufficient at 14 years old, able to pay his

haslinda: i am haslinda amin.lk about earnings out of singapore. the past two or three days, we look at a summary of how it looks. we are looking at the index, to give you a snapshot of earnings the season, 59 on the 27 constituents of the entire index 15 out ofinancials, the four and in terms of sales surprise, there we go, three of the four have reported revenue that has beaten analyst estimates, but only one of those companies have actually come in with a surprise when it comes to these bottom lines. haslinda: and you know what, david, singapore banks stocks have done really well. last year among the best performances -- performers and stocks were up about 50%. and ocbc, which released earnings today, we will bring in the group ceo who is with us in the lion city. sam, congratulations on the strong numbers, 30% up on the earnings. question is, whether it can be sustained going forward? sam: good to be here. the momentum that we reported today is really a continuation, quarter by quarter, in 2017. in that respec

i am haslinda amin. david: let's check the open in india. here is sophie.nchmark recovering come up .9%, as his the nifty. thestors bracing for what r.b.i. might say about the recent selloff and the central banks view on inflation. r.b.i. will leave interest rates low to ensure prime minister modi can bridge the widening fiscal deficit. haslinda: asian stocks are set to snap a three date drop, but the mood in chinese markets, what is happening there? the rebound in china if operating has developers are sliding and the shanghai property index lower 4%. banks have raised mortgage rates in several cities, dampening the mood for real estate stocks. let's check in on some of those real estate stocks. fun cut grandefell, but ever rising. some inch marks at the break, the shenzhen looking little changed. the chinext swung to gains. chinese large cap gauge under pressure over 1%. david: still on the way out. we are off the highs for the day. sophie: the hang seng that higher, but off the high of the day. this as tencent recovers from the biggest loss in 2011. japan

pushed back the first delivery mid 2020.rs to let's cross over to the singapore airshow where haslinda aminng by with the companies sales and marketing vp. haslinda. haslinda: yvonne, we are talking about the emaar j -- mrj. it does seem like it is coming online. good to have you with us. was meant to take delivery in 2013. what is the status. testingve conducted very smoothly and we have passed the midpoint. more than 1700 flight hours. the delivery is in mid 2020. haslinda: what is driving this optimism considering the issues you have had so far? >> we are conducting flight testing. the airplane is getting more and more mature and also we design airplanes. haslinda: at this particular airshow, we have not seen any mockup plane or the real plane. what is the purpose of this plane? how much interest are you seeing? yugo: this is a great opportunity to meet all the customers in the asia-pacific region. we have explained the current situation. haslinda: are you seeing any interest? yugo: sure. haslinda: where from? yugo: from many potential customers in the asia-pacific region. we have got ve

it cost back to the singapore airshow where haslinda amin is standing by with the chief. nities from honeywell aerospace? haslinda: there is so much optimism at honeywell. earnings fortheir 2018 and said there have been a lot of confidence shown among its customers. let's get perspective. stephen, good to have you with us. what justifies this earnings revision? what's different? is it because growth is sustainable going forward in the region? ande have growth in 2017 the numbers as we exited the year. , especially in aerospace, we continue to see strong momentum. not only market momentum, more airline passengers and travelers , but honeywell's ability to capitalize on that by having the right people with the right tools and selling that in the right way. haslinda: there are particular growth markets you look at? southeast asia, for instance, what kind of growth specifically are you looking at? >> high single-digit growth. we look to follow that in china and across southeast asia. we capitalize on that through supporting airlines that are seeing that growth which puts them

am haslinda amin this is bloomberg. ♪ let's >> you a quick update on markets.nd trading higher. onducer prices coming in expectations. trading atllar .7374. futures looking lower going into the sydney open. not a lot of leading events this week. releasinge rba minutes, as well as fomc minutes from janet wellen's last meeting. we are expecting more color as to the growth outlook from those statements. the aussie softer against the yen and year old. come of the weakness in the yen, falling back from that 15 month high, driving the ramp up in tokyo equities. we are waiting to see aphasia can build on the week. trading getting underway today. 106.58 is where the yen is trading. u.s. equity and treasury markets not trading for president's day, but a massive week ahead. an auction totaling $258 billion testweek could be a litmus for the bond market as to how steeply these are roaring costs could rise this year and a reminder that the s&p he much flat, the best week for the u.s. benchmark in five years. we will see if we can build on that. let's take a look at trading

haslinda: i am haslinda amin in singapore. you are watching "."berg markets: asia haidi lun -- "bloomberg markets: asia." haidi lun. >> zumba has bowed to pressure and resigned. with -- disagrees with the decision forcing him out. his years in office have been marred by scandals including selling influence. a newre expected to name acting president until next year's election. no lives should be lost in my name. anc should never be divided in my name. come to thefore decision to resign as president of the republic with immediate effect. haidi: the taliban is offering talks with washington to end almost 16 years of fighting in afghanistan. a letter from the leadership says the war was imposed on the group and the choice is to resolve the situation through peaceful dialogue. the letter says the u.s. must end its occupation and accept afghanistan's right to form a government consistent with the beliefs of our people. oil rose strongly despite new research showing compliance with the opec's upward curve has slipped. fell in january to 79%, the lowest s

david: -- haslinda: i'm haslinda amin. haslinda: and i'm david -- david: and i'm david english.loomberg markets: asia. ♪ david: some solvation. building on new york's friday rally. strength, snapping six days of decline. trying to prepare a futures market. -- threee measure times higher than it was back in january 26. haslinda: looking at u.s. inflation numbers that may accelerate the pace of rate hikes. a check across the markets of the asia-pacific. it is a new week. hopefully it is a new week following what we saw last week. asia-pacific stocks on the way up. we are getting strength coming from the currency. japan is closed. we don't have trading in treasuries at the moment. of four basis points on your aussie 10-year yield. not quite back to levels this time last week. it does help to see this come up a little bit. we are still above average. have a look across the chinese markets. bloomberg, .7% on your bloomberg, .7% up. there is this build up in margin we have to consider, less the liquidity squeeze in the chinese new york. there is a silver lining here. flipping the

in i'm haslinda amin with the first word news. january. they rose 7.9%. i drove the first japanese trade deficit in a month spare the strengthening yen remains a risk as it will make imports cheaper. china says proposed u.s. tariffs on imported steel and aluminum products are groundless and may reserve the right to retaliate if they are imposed. wilbur ross says the u.s. imports of a

. >> and i am haslinda amin. nda: red flags are flying as hong kong and china join the steepening slump. chinese stocks up by 6%. the s&p 500 and the hang seng index, nearly $5 trillion wiped out since january's high. haslinda: the new york fed boss is not overly concerned. bill dudley says the market slump is small potatoes. david, what a day. s&pr that correction in the and the 1000 point drop in the dow, markets in asia following suit, bloodbath across the board. david: it is one of those days. we had similar losses on tuesday. signs of stability wednesday and thursday. what we are having across the region right now. this will like -- india will likely join the orut -- rout. there is a shutdown and news out of washington we have to contend with. msci asia-pacific poised for a technical correction. enter thete, as we last 30 minutes of trading, china is getting killed, silly. the shanghai composite brings to mind how we were selling earlier. this unwinding of wealth management product, we will talk more about in

amhaslinda amin i am -- i haslinda amin in singapore.in sydney. >> mario draghi has told eu lawmakers he is sticking to his stimulus plan and is not ready to reduce support for the euro area despite confidence inflation will pick up. he told the parliament that slack may be larger than thought and the bank must continue to provide accommodation required amid uncertainty. man fired three years ago as financerica's minister is seen as making a comeback after he was sacked in 2015 month but he has the support of the new president. the president is to announce a cabinet reshuffle tuesday evening with the current finance minister seen as going back to his former job has home affairs minister. a general may contest indonesia's next presidential election, which will be a re-one of the 2014 race. -- a rerun of the 2014 race. he is popular and has improved access to health care and if a structure, but has fallen short of his goal of growth. india toozen in enforce an award. 2008 when the brother sold a company to da iichi. a tribunal ruled the br

haslinda: i'm haslinda amin. a quick check on the headlines.including domestic rivals gsw. $4.7 billion.ean the bank is designed to clear out the stress assets and has set up a contest for steel assets stirring worldwide interest. david: the bank of india is transferring assets. regulations would require banks to make provisions for suspected loans, instead of the current system, where they cover the actual losses. the idea is this what double the -- is this would double the number of assets. a quick check on your markets as we make our way into the lunch break here in hong kong. it does not look very good. look before quick we get into the open. has, quite a bad day. day, dave. great >> asian indexes fall further after the dow jones suffered its first single plunge ever. driving fears. polesitter jones says it is about to appear with a vengeance. neel kashkari says the fed is watching. >> i do not see a financial crisis on the horizon, but we are paying close attention to it. >> how will middle east markets

haslinda amin is looking at the economic impact of change in the asia-pacific. , this digital transformation we think. microsoft says 85% of jobs in the asia region will be transformed and have significant impact on gdp. to --being -- let's speak quantify the change to gdp. >> it is really on agenda. we are interested in understanding, what does it mean for the economy and businesses? and askstudy with idc more than 1500 decision-makers in 15 markets in asia. there are two interesting data point. 15% believe they are getting benefits. , 50%n the next three years expect it. expecting $1.2 trillion impact on gdp with products and services, which is massive. it is a 0.8% increase on gdp, which is exciting for the industry and decision-makers. haslinda: but that is the potential. our companies, our governments on board? don't know where the next technological investment should be. areh: i think the ceo's really setting up for a tough problem but a big opportunity. 60% of gdp three years from now will be based on digital technology. now, three things need to happen. ceo's need to take care on ai,

. >> that was the iea director speaking with haslinda amin. up next, going mobile. crypto kiddies. blockchain-based gains sparked a global craze for collecting cartoon cats. with theing to speak cofounder, next. this is bloomberg. ♪ yvonne: this is daybreak asia. i'm yvonne man in hong kong. betty: i am betty the in new york. crypto kitties. it spiked a global craze for cats. it could mean another pilot for the world's second-largest cryptocurrency. 30% of all ethereum transactions, causing network congestion, and now, it is set to launch a chinese-language ioa app that will only stoke the frenzy. let's get over to vancouver. sure many people tuning in will be like "what is this es we're talking about?" explain how these games that seem to be coming out more and more -- how is that affecting or interlocked with the blockchain, the cryptocurrency market? guest: i would say it's very interesting. did it possible with this concept of smart contracts, and it allowed for many other decentralized apps. you can think about uber, but decentralized, and airbnb, but decentralized. there is n

haslinda: i am haslinda amin in singapore. you are watching "bloomberg markets: asia."s in south korea signal support that they term normal cryptocurrency trading. having an outright ban, they now say they want to see open and transparent trading. bitcoin almost double its latest on february 6. fortescue slumped. 42%,-half net income fell $681 million. revenue was $3.7 million. the iron or producers have a capital expenditure of $900 million. fiat chrysler boss has delivered the best returns among his automaker peers and has been compensated handsomely as a result. nearly $12 million in base pay and bonuses and stock last month. andtakeover of chrysler fiat and the spinoff the following year. president trump has directed the justice department to ban so-called bump stocks that allow semi-automatic rifle's to be riflesore wrap ugly -- to be fired more rapidly. shows and 97% of americans now want universal background checks on rifle purchases. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am paul allen. this i