and in india 13 of the most 20 polluted cities on earth are in india. when i was on the holy ganges river, you see dead bodies floating in -- and others right near them. when i was in government, i had a small part and you had a large part in negotiating the civilian nuclear deal with india. partly that was about our strategic partnership with india, but a lot of it was about getting clean, non-polluting power as india scales up its electricity use. it's a big win-win for both countries. india has these super-optimistic projections about how many nuclear reactors they were going to build. if you divide those by three, the deal still saves more co2 emissions than the kyoto protocol implemented in all of europe. and i would say similarly, i am a -- i really think what the obama administration did with china on the climate change accord that was announced in december of 2014 and that then helped spur the rest of the world to announce their own binding commitments on emissions was another helpful way that all three can work together. >> more to come on that

india much worse. india has 300 billion people still under the world bank poverty line, which is $1.25 at a. not very much. china has 84 million. the scale of the problem is much bigger it's also in china most of the poor especially the urban poor are working in factory jobs or in jobs that are on the books. in a way they are easier to help because you can do it for the paycheck and you can give tensions and you can get health benefits. it's possible to do that. in india all of these guys are working in the formal economy. what he going to do? included integers introduced a new biometric id system which actually put some these people on the books and give them an existence and nobody has opened almost 250 million new bank accounts which would allow these people to actually be helped by the state and the way they were not before. >> one of the things, these are countries that have very different approaches to development and seeking prosperity, in some sense seeking power for i know you avoid the horser

together beyond the idea that india in the u.s. are coming closer with china and the rationale potentially to put the relationship on the untenable path without military encountering of china. >> i agree with the premise we need as much as possible to incorporate china into everything we're doing people are increasingly worried about china's aggressiveness for the u.s. in the head japan australia and others to be an together and don't think a decade ago we would have considered doing joint military to discard the idea that is now happening much more frequently it is important to even though china makes it difficult and especially on the military issue that is the hardest thing to resolve. and one of the things that he said that he is quite proud of as a great initiative to persuade the p la that the chinese sailors need those of other nations

emily: let's move on to india, a huge investment in india, the great india sale is happening there ase speak. david, talk to us a little bit about how big of an opportunity this is for amazon. david: if you think of amazon being such a powerhouse steamrolling its way over global e-commerce already, if they're competitors are spending $3 billion to compete with them, for them to spend 50, 100 million here or there to build market share in a critical market like india by offering special discounts which they seem to be doing right now, that makes a lot of sense to me. it is a global opportunity. this is where they agree, e-commerce is a global business and it will be probably the central form of commerce down the road. amazon dominates. it wants to continue dominating. it has to do it, therefore, in places like india. emily: china has been a difficult place to crack. india is very different, the language is different. does that make this a completely different story? >> look, i was actually at amazon when amazon acquired and saw a bunch of those in action. let me remind you that india i

in a weird way you can see that iran depends more on india more than india needs iran.t more can india do in the wider asian stander? >> they have an investment in a smaller petroleum company that intends to invest a few billion dollars to expand refinery. if he turned to china, its , china hasket allowed a lot of smaller independent refineries to bring in more of their own oil. and that we the iranians are trying to find a way in. the recently signed a deal to they can then sell it to independent refineries which could give them another outlet. first: let's check in on word headlines from around the world. here is juliette. >> iran and the u.k. have pledged to advance their relationship seven months after sanctions were lifted under the nuclear deal. president rouhani said he and the prime minister will work side by side and she promised to play an active role in implementing the agreement. kuwait has signed a deal to buy helicopters from airbus. the order was formalized in paris for 20 aircraft to be used in combat search and rescue operations. more than 500 have been

and i showed it to india.ng that i want to do this." >> whitaker: the proposal suggested that through environmental conservation, a community can not only sustain itself but more importantly enable children to thrive. >> howell: he said, "you know, i've written a business plan." i said, "oh, i would love to see it." >> whitaker: what did you think of this plan when you saw it? was it-- >> howell: i thought it was brilliant. >> whitaker: --this is realistic? >> howell: i thought it w-- hm? >> whitaker: did you think it was realistic? >> howell: i'm very practical in my-- no matter what idea comes to me, my first thought is, "and where does the money come from?" because it doesn't matter if it's a good idea if you can't pay for it and sustain it. >> whitaker: so peter's proposal was all but forgotten. then this happened: one of india's employees at the safari lodge told her he was not only quitting his job but abandoning his three-year old son, named doctor. just like that, india was thrust into motherhood. >> h

if you look at our india business, it is easy to understand. india is a fast-growing market.gh perhaps the overall smartphone market in india is not growing externally fast, it is certainly growing, but the online market is doing very well. in india,, for example,, just over, -- in india, for example, just over the last few quarters, our performance has been noticeable. some numbers came out from idc talking about how the note 3, one of our most important products in india, is the highest selling smartphone in the history of the online market in india. meaning no other smartphone has sold so many units, so much volume through the online channel, people buying phones over the internet, as this one particular product from us. in india, our business has been growing on average 72% year-over-year, which has really been extraordinary. just for this one model alone, we shipped about 1.7 5 million phones in just five months -- 1.75 million phones in just five months. so the part of the market we see, this online, internet market, from that perspective we are seeing very healthy grow

the same course is open to india if the peoples of india will agree about the terms of a free constitutionng that can be imposed from without. it can only be created from within. >> the indians have a responsibility to reconcile the differences that exist in the its indian population with hundreds of different languages, religions, and on march the 11th, 1942, the british government placed itself on record and promised full self-government to india if india will work out a constitution that will satisfy its people after the war is over. but during this war, military leaders agree that allied troops are needed in india as a democratic block keep the nazis and japs from uniting. there, it provides the basis to get at the japs from burma. in other parts of the empire, democracy stand on guard. if it weren't for the british in -- andcyprus, alexandria they are hanging onto them regardless of the cost. without the drive to tripoli, there would have been no north american -- no american landing in north africa. ♪ >> there is another tune the nazis play about the british empire. >> the british ar

the same course is open to india if the peoples of india will agree about the terms of a free constitutionng that can be imposed from without. it can only be created from within. >> the indians have a responsibility to reconcile the differences that exist in the vast indian population with its hundreds of different languages, religions, and on march the 11th, 1942, the british government placed itself on record and promised full self-government to india if india will work out a constitution that will satisfy its people after the war is over. but during this war, military leaders agree that allied troops are needed in india as a democratic block keep the nazis and japs from uniting. from there, it provides the basis to get at the japs from burma. in other parts of the empire, democracy stand on guard. if it weren't for the british in malta, cyprus, alexandria -- and they are hanging onto them regardless of the cost. without the drive to tripoli, there would have been no american landing in north africa. ♪ >> there is another tune the nazis play about the british empire. >> the british are s

three years ago india was facing a current account deficit.inflation targeting regime. the monetary policy committee that is going to be deciding on rates from here on, and he also went off bank loan problems -- after bank loan problems. he wants to clean up most of the bank bad loan problems. there has been extremely positive results in that regard. remains,of the matter why is he not getting another term? there are critics of his policymaking and many believed he was more hawkish than expected in holding onto rates when they should've been lower. the other big challenge of criticism was that he often spoke on areas outside the ambit of monetary policy that did not go well with the powers that be. of whoe: give us an idea is likely to succeed as governor of the r.b.i.. he is leaving in september. should we not know by now? harsha: you are right, september 4 is when he leaves office and we are hoping the government will be announcing another name any time. there have been no official communications as to who will be succeeding him. the former

i've heard a lot of big industrial leaders backing the gst india.ndia's single biggest economic reform in its history. potential tothe gain. you have efficiency gains to growth, both in terms of trade across state lines. you have the hope of self reinforcing compliance eventually over time to increase government revenues. you only get your tax credit for your value addition when the supplier passes it up along the chain so it is self reinforcing in terms of compliance as well. most big industries and the government stand to gain, but that is only over time. state governments were worried about losing revenue and control under the new system. that has been the real sticking point. years of compromise, or investors jumping the gun? the rupee has gained tremendously versus the dollar. the white line there is the rupee versus the dollar. we have inverted its eight can see the rupee gaining strength. it has been a pretty steady bet for foreign investors. the idea of a country essentially creating a free-trade area with itself sounds counterintuitive. are

thatweird way he could say iran depends more on india than india depends on iran.hat more can they do in the wider eurasian theater? in aey have an investment smaller company that intends to invest a few billion dollars to expand refineries. ,lsewhere if you turn to china its biggest market, it's already selling a lot of oil. china has allowed a lot of smaller independent refineries to start ringing in their own oil. in that way the iranians are trying to find a road in. crude and then they will sell it on to the independent refiners. egypt is stepping up its fight against the black market being blamed for the shortage of hard currency. economy remains in focus. joining us is the head of asset management for the national investor. ongoing.oes are i pulled up a chart for our viewers to get a sense of the latest numbers in terms of foreign currency reserves, down to the lowest level since march 2015. 11.45% drop in the month of july, $2 billion straight off the top. as egypt continues to negotiate with the imf, how does it find a way out of what appears to be a growi

that was vegetarian, which accounts for one-third of india's population. he uses stir fried vegetables with carrots and onions. simmering them to create a thickly textured food. this is the product of akimoto's five months of trial and error. he calls it veggie ramen. it costs about $8 a bowl. >> i'm a vegetarian and this is the first time i have had vegetarian japanese style ramen. i have never had something like this before so it's very nice. >> when the restaurant opened, about 20% of customers were indians and now it's almost half. >> it's a rare opportunity to be the first to enter such a large market. and i'm determined not to let it pass me by. >> reporter: as 1.2 million indians explore japanese cuisine, they're drawing new customers from around the world. >>> the confectionary industry has been sagging in recent years. so they're starting to look to other countries. >> reporter: people in hong kong head for this shop to satisfy a sweet tooth. it features more than 600 types of japanese confections. they're imports so they cost half again what they

india, our business has been growing on average 72 sent year-over-year.hich is really been extraordinary. and just for this one model alone, we shipped about 1.7 million phones. product.latively new the part of the market we see is andonline internet market, from that perspective, we are seeing very healthy growth. what is your strategy in india, because that is a growth market. what is your strategy. in india istrategy quite similar to our strategy in china a few years ago. we are a very young brand. college students, recent grads, young professionals. we communicate with our customers. we share news. it's essentially our marketing channel. and we also sell almost exclusively online as well. we have an entire e-commerce platform deployed in india and we work with all of the main online friends -- brands to sell online. we have grown to be potentially a house rand when you look at the online market, those customers reading tech blogs, making their buying decisions on the internet, which is very good is listening for us to have. given the direction that re

india has brought in a new tax. >> good evening. ofmakers in the upper house parliament voted to change the country's tax structure. the goods and services tax bill the most ambitious reform taken so far under the prime , as he tries to boost the economy. reporter: one nation, one tax, goal of the biggest tax reform passed in india since its independence. india's upper house approved a single goods and the country and its 1.3 billion consumers. will replace a slew of levies in 29 and states it. >> will be one single point tax, willgle rate that we probably move towards over a period of time so it's the taxation architecture which makes it simple but importantly it also makes india market, a unified one market. easierr: that means access across state borders for indian businesses which have lobbied for a single tax rate. the bill was introduced over a languished in parliament. one of the reasons, it will be harder to cheat. with the process so simple and transparent, there will be or no room for any corruption and also that's one the

but there are many things we do not know about india. india pays no taxes to britain.tariffs laws often to britain's disadvantage. 11 of the 15 members of the council is indian. 10 of every 11 judges is indian. it was voluntary enlistment that raised the army to a million and a quarter today. and on the subject of india, listen to the words of field marshal. british 40gainst the years ago and was defeated in his fight until he became the leader of the british commonwealth of nations. india can be free in the same way and by the same means as canada and new zealand. their peoples worked out a constitution for themselves, the same choice is open to india. can thats not a thing -- that can be imposed. it can only be created from within. >> they have a responsibility to reconcile the differences with its if the dozens of different religions. the british government placed itself on record and promised full self-government if they will work out a constitution that will satisfy its people when the world -- war is over. that troops are needed to keep the not season japanese fr

the 11th, 1942, the british government promised full self-government to india if india will work outits people after the war is over. during this word military leaders agreed that troops are needed in india to keep the not these and japs from uniting. it provides the basis to get at the japs. in other parts of the empire, democracy stand on guard. alexandria --for they are hanging on to them regardless of the cost. there would have been no american landing in north africa. there's another tune they play about the british empire. the british let others fight the war for them. >> britain will fight to the last. that thousands of canadians and australians and new zealanders have gallantly --and gallantly died in greece and in libya. there's something pretty important. inhabitants of the british empire, one comes from britain. but of the casualties suffered so far in this war, seven out of 10 were born and raised in britain. seven of 10 in casualties. air, as the planes three are manned by cruise from britain and the planes on the overseas front, four out of five are manned by men from b

the emirates boeing 777 was arriving from india when the accident happened.ryone survived but a firefighter tackling the flames was killed. here is our transport correspondent, richard westcott. richard: what must it have felt like to be on board this? normal landing plunged into chaos as the aircraft skids along on its belly. credibly, one passenger -- incredibly, one passenger films the estate. -- the escape. some people start getting there luggage down. the plane might have stopped but these people aren't safe. realizing the danger, one of the cabin crew shouts to get passengers out. indiscernible] richard: on the ground, another terrifying sight, fire. not long after, this happened. 300 people escape to this wreck. at the terminal, they say it came without warning. >> it was a big noise. the smoke was coming inside. we escape from the emergency exit. >> all of the children and women were shouting. richard: a firefighter was killed putting out the blaze. the chairman of emirates says everybody seemed fine as the aircraft approached dubai. >> i think it was

reporter: india wants to radically overhaul the current system. right now, the government levies a sales tax and tax on services but the country's 29 states are each responsible for levying taxes on goods. rates and regulations vary greatly from state to state. modi wants a centrally imposed national tax on goods and services, considering a rate of 18%. the plan is aimed at making it easier for companies to conduct business across state breezy. state boundaries. logistics companies and internet retailers would be winners in that reform. it could give indian g.d.p. a boost as much as 2%. but what about the poor masses of this enormous country? it looks like those in the worst financial position could soon have to pay more for the basic commodities of daily life. reporter: you might have heard of self-driving cars but it's not just passenger vehicles set to become autonomous. take this self-driving tractor being tried in denmark, using g.p.s. and sensors to navigate around a preset route at the touch of a button. the dutch firm behind it says the te

india, the start market up 7.5% so far this year. is india the place to be?out what's going on in indonesia. >> i think when you're looking at emerging markets, having broad exposure is great for portfolio construction and asset location. if you're looking for an out for play, the alpha reform environment and policy measures for certain single countries, particularly india and indonesia, is a great tailwind. if we consider what happened in india over the last few years with moody coming into office, not only do they have monetary policy reform, but structural and fiscal reform as well. that's really powerful as a tailwind. inuations are not sheep india. we look at entry points to create more exposure to those. i think the outlook in terms of long-term investing, thinking about where you want to be, the demographic play there is going to be a powerful story for india. cory: in the near term, the currency trade may be not bringing a lot of foreign investment into india. thehey are relaxing some of restrictions as part of the reforms in terms of foreign direct i

and china and india.is a little backward looking, it goes to april but it shows that investors were not deterred too much by the threat of the brexit vote which we did know was going to take place throughout that investment time. we will have to wait to see how it performs. yousef: very interesting. elsewhere in europe the spanish prime minister is facing a confidence vote. what is to be expected there? he is an acting prime minister. he says we need the government to avoid economic impact although he said the data out of spain has been encouraging. he said there is no alternative to a people's party led government. he has been busy signing pacts to try and get other parties on side with him so that during this first round for the confidence vote that takes place today he will be able to carry , his intention. the people's party has signed a deal which have together 170 votes but they need 176, that is the magic number if they want to start a second term. we have eight months of political deadlock in spai

an emirates flight from india with 300 people on board crash landed at dubai's main airport causing a fireball and black smoke billowing into the air. there were no fatalities. all the passengers and crew were safely evacuated. the plane was a boeing 777. at least 22 people went missing after a bridge collapsed in western india due to excessive pressure from the swollen river below. officials say a major search operation was under way. >>> a judge has cut nearly all of a potential $562 million fine against pacific gas and electric in a criminal case alleging it violated safety regulations before a deadly natural gas explosion in california in 2010. 8 people were killed in that blast. >>> a recall notice for a grand jeep cherry was mailed to the actor seven days after killed in a freak roll away accident. according to his family's

anna: if india is one of your goals, if you like india at the moment, is that based on the central bankfe pair of hands, a technocrat in charge of the r.b.i., or based on the reforms of modi? geoffrey: face on a combination of structural packages over the last few years, but also on the ground the earnings outlook is improved on a structural level. so once that turns, it's one of the leaders within emerging markets. so in the last few weeks or so, we have seen emerging markets rallying. it was a bit too much of a return chase in the past. markets, -- we do think that the india story is more sustainable. anna: when we talk about emerging markets, you artie mentioned the role of the dollar, and that crucial emerging markets story. i pulled up this chart we were talking about at the start of the program. just a one-week chart, but it shows how elements of the fed, talking, and as a result the dollar moving higher. how does dollar strength play out for the emerging markets? which have the most to lose from that? geoffrey: we need to look at differentiation right now, and see whether there's

he's following the stories from on millions of people in india. the damage floodwaters have done so far and why there may be more problems ahead for the region. plus, a police shooting in north carolina getting national attention. what sets the victim apart and why it's sparking a conversation about disabilities. those stories and much more when >> welcome back to "12 news this morning." we are on weatherwatch 12. we are looking at dopplar 12 radar. sal, they are moving slow across the area? >> they are moving very slowly. it is raining, thundering and lightning over the southwest porks of the state. we are looking at dane county. we are pausing the radar, portion of the western part of the state. a lot of rain associated with this and a lot of action out of iowa and western illinois. just to west of i-90. 74 at the airport. 68 waukesha. for today, morning rain and storms. heavy before 10:00 and showers are scattered into the afternoon. and ben, we look at the spotty showers persisting tonight and a look at the weekend forecast in a moment. >> tha

upper house of parliament in india passed a landmark tax bill that could -- tax bill. to initial tax rate has yet be decided, but already the business community in india has hailed the reform. reporter: the bill had been fiercely debated for a decade and it calls for no less than changing the india's constitution. a single unified vat system. india, local say it will make their lives considerably easier. >> [indiscernible] for consumer as well as seller, it should be easier. currently he has to pay a difference rate of sales tax in different states. happeningwhat is [indiscernible] i'm billing to a middleman and he is billing to the consumers, so there are four taxes being paid on the same product. this could add up to two percentage points to gdp growth each year. to bring the new tax regime into force by the start of india's next fiscal year on april 1. taxmain rate of the will be decided by state and federal officials. currently it is estimated to be between 15% and 18%. won't apply to alcohol, petrol, and electricity. some of the other stories we are tracking for y

. >> severe flooding taking a toll on millions of people in india. the damage floodwaters have done so far and why there may be more problems ahead for the region. plus, a police shooting in north carolina getting national what sets the victim apart and why it's sparking a conversation about disabilities. those stories and much more >> welcome back to "12 news this morning." we are on weatherwatch 12. the rain is starting to move in the milwaukee area. >> it is a slow moving storm now just getting into fond du lac, dodge, and moving in from the west to the east. you are seeing now, thunder, locally heavy rainfall and up to fond du lac county. washington county you are going to see this. 94 jefferson county as well getting wet. showers and storms across illinois. if you are travelling to northern illinois, you are not driving out of this, it is impacting all of us. the storm threat index at a more than anything, the ponding and the road spray. there we are with a live look at the station. showers and storms most numerous between 7:00 and 10:00 this mo

india is quite important to us.t i would say is there has been a lot of good stuff as you say, the recommitment to fiscal consolidation of the federal level. it will help integrate the indian states as far as trade. manus: that seems to be one of the most significant news moments for modi. arnab there was a lot of hype over the campaign -- arnab there was a lot of hype over the campaign. the reality of politics and now he has gotten the reform show back on the road. the gst quite important because that is taken a decade to get done. it is not complete done yet but the next step should be more technical with less political resistance. a very positive the moment. against that, the inflation trajectory is probably over for now. the break easing cycle is probably coming to an end. this whole today, maybe there is room for one more rate cut if inflation starts to fall again at some point. monsoon is better than has been the case. i think if we step back from all of these particular keys of the cyclical on inflation, the

now. >> sequoia has a much bigger presence in india.y are much larger. emily: on the question of india specifically, we see a sort of landgrab area of the amazon. amazon making huge investments there and you have so many u.s. tech companies that have failed in china but are looking at india as the next frontier. will they succeed where they have failed in china? >> that is a great question and it really depends on the organization designed within the companies. amazon has done a fabulous job with the indian market. we have never seen a company do such a great job of entering a new big market before. they are adding $5 billion to the india market which is more than both of the competitors have raised so far. they are well positioned to beat competition. i think what is important to understand is how to do business in a large country that is very accepting of local businesses coming in. and he has a lot of english-speaking population so you do not have that much of a language barrier and they are very accepting of global trade and the eco

do you think this is a relief for markets in india?estion, i think relatively speaking to the other candidates that were thrown into the debate, he is probably the more hawkish or even the most hawkish one. we should not forget that the framework, inflation rajan targeting framework that mr. -- inflation targeting that mr. rajan brought in, that is good news for the long-term. i think the markets were bracing for somebody coming in slightly less hawkish and a bit more dovish than mr. rajan. that is not the case. i would not be surprised to see a settling in india. longer-term, it is the right approach. yvonne: great stuff. we have to leave it there appeared thank you so much. up next, we continue to talk about the new xi jinping -- new rbi governor. we will talk more about urjit patel. this is bloomberg. ♪ yvonne: the outgoing governor of the reserve bank of india made headlines with his outspokenness. his successor is the opposite. urjit patel is seen as a techno crowd --technocrat and likely to continue the policies of raghuram rajan

francine: if you look at emerging markets and india, that is what is going on. let's get to the bloomberg first word news. taylor: turkey's prime minister goes to moscow for talks with vladimir putin. it is his first trip out of the country since last month's attempted coup. the meeting comes nine months after he imposed -- after putin imposed sanctions on turkey. small business and manufacture groups are praising donald trump's tax proposal. he called to take the corporate tax from the highest to the lowest among developed nations. belgium, the refugee who attacked police officers with a machete had been ordered to leave the country two years ago. his residency application was rejected twice. he was shot dead after injuring two officers. dauntingay faces demands from eu nations. drawn,he red lines being for of movement and continued protection for eu citizens living in the u.k.. those demands could run counter to what may host to achieve post brexit. lilly king won the gold in the 200 meter. on the metal scoreboard, the u.s. leads with 19, china has 13, and jap

the loss of rajab is huge for india.s long as his replacement comes in and maintains the same kind of regime he had been running, hopefully that will be ok. but he's definitely a loss. he's a guy that has been very positive for india. francine: what does a fahrenheit mean for emerging markets? mike: we think emerging markets can withstand one fed rate hike this year and the gradual pace we expect going forward. what becomes problematic for emerging markets in general is if the dollar strengthens meaningfully. we've seen an inverse correlation between emerging markets relative performance to the rest of the world and the dollar. when the dollar goes up, emerging markets underperform. if the fed but interest rates up significantly faster, then that could cause dollar strength and weakness in the market. francine: we saw the taper tantrum two years ago. are they in better shape than they were then? it just depends on whether the fed flags it properly and whether they are in a stronger place to withstand a fed hike, so we do

india's biggest e-commerce startup is heating up not in a good way.e will focus on the internal turmoil at flip cart later this hour. this is bloomberg. ♪ >> one story we are watching. regulars say there is a huge difference in the value it places on its intellectual property depending on whether it is in europe or the united states. in europe amazon claims the i.t. behind its went shopping platform is immensely valuable. it does this to justify the billions of dollars in tax-free revenue it has collected since moving its affect -- assets to luxembourg. authorities on both sides of the atlantic are asking questions with the virus telling amazon it owes $1.5 billion in back taxes. amazon maintains it is following the law and has sued in response. we are expecting a decision this fall. china is one of the hottest markets in the world for e-commerce. annual online shopping volume made double to more than $1 trillion by 2018. one company poised to capitalize on that is j.d..com. this is china's economic is e-commerce operator behind alibaba. the company s

surveys suggest up to half the india quit careers after having made. leave,s paid maternity but now parliament is changing the law, doubling paid maternity leave to 26 weeks, giving paid leave for adoption and surrogacy, and forcing firms employing more than 50 people to provide facilities. the government says these measures will help at least 2 million women across the country, but what do they think? >> basically, we have too many nuclear families in him bombay so in the suburbs we are getting an additional leave. >> my friend is a currently pregnant and i think it is a very good idea because for her to come back in three months is too short notice. you need more time with your baby and i think it is a good decision. reporter: getting more women to work and keeping them there is something could boost india's economy. especiallyy, informal employment, it will depend on family support and changing attitudes towards work. laura: day 6 of the olympics, and as we reported, the women gymnasts are racking up the medals. in the rugby finals, fiji is getting

rishaad: india moves closer to a national sales tax. it is seen as a major political victory for the prime minister. yousef: rishaad: welcome to bloomberg markets middle east. with these gyrations comes to the oil price. people have been reevaluating where they see oil going. beat often you can't dependent on what is happened recently. yousef: we were just talking about what happened in the oil options market. the indicators were that the bear market did not have long to go. this really sets the tone for your day. you can see the top story here is all about oil. what i like about this is the nuggets of information that you get. stockpileasoline falling by the most since april. the other chart i want to show you shows u.s. crude production falling. this is the first time in four weeks that we have gotten this from the eia. ending the longest stretch we've seen since january. 8.4 6 million barrels a day. radicallye is changing a short amount of time. let's quickly have a look at what is going on this part of the world. treating now almost

you grew up in southern india. tell me about your upbringing.masree: i grew up in a small town in southern india. it is probably a big town now. my father was a lawyer. my mom was a math major but stayed home to take care of us. i was always interested in math and science growing up. i would say i was a curious, troublemaking, precocious child. i would do experiments at home. i would drive my mom crazy. one time, i wanted to see what would happen if you melted plastic. i actually lit a plastic dish on fire. i am terrified now to think i did this. emily: what was it like being a young girl interested in studying stem in india? was there a tension between boys and girls? padmasree: not so much in education, but in engineering. science was different from engineering. there was not much, i would say, encouragement -- there were not many women engineers. there were a lot of women and girls studying science. so i wanted to be a physicist. i joined my undergrad degree, started as a physics major, and switched after one year to engineering. that was unu

india is being converted. not one week passes without my inbox showing something of christians being attacked or having problems in india. when you talk about all this isis and isil, these are people who are doing genocide. they are not governmental. you have invited the prime minister here four times in two years. today, you come out, they are sitting laughing at your report if there is no follow-up action to do something about this. >> president obama traveled to india and he gave a major public speech in which he was very clear about the need for religious freedom in india that could be exercised without people being subject to violence. so i think we have been clear, where there, about our view of what is needed, and our willingness to be supportive in confronting the challenges to religious freedom that need to be addressed there. and when the government has been slow to react, urging them to be more assertive on that. so, you know, when he has promised to ensure that everyone, and i'm quoting now, everyo

emily: you are focused on india, africa and he used to work at sequoia in india, one of the most venturen the united states. i am serious how their approach to india is different given that that is where so much potential is right now. they have a much bigger presence in india. they are a much larger fund, but hopefully, there will not be much of a difference. emily: coastal impact investing partner sandhya hegde. that has it for this edition. tune in at 3:00 p.m. pacific. we will see you then. this is bluebird. ♪ -- this is bloomberg. ♪ >> coming up on bloomberg best, the stories that shape their week in business around the world. walmart ads online strength. the stimulus program has pickup. trump and clinton layout economic blueprints. >> upon taking off, i will issue new great -- new agency regulations. >> we will work with both parties to pass the biggest investment in new, good paying jobs since world war ii. ramy: earnings season continues. a tour behind the numbers. >> the chinese consumer is very healthy. >> as far

india is one of the markets we like. it has the earnings that we're looking for so we're expecting earnings from india this year, but also has the, you know, the sort of structural reform and policy stability so you've got all three bit is if you like lining up. emerging markets are benefitting. there is reason to be selective we think here. >> just say to viewers. get involved if you have any questions or comments on markets you can write in. and we'll be talking about that if five, six minutes time. you have time to get the e-mails in. you can find me on twitter. i promise i'll pass on your comments and questions to our guest. the earnings season, corporate earning so far. i've had a hard time sifting through to see what's the feel. usually it feels like it's easier, especially when it comes to transparency and some of the outlooks the ceos are giving, but it feels a bit muddled at the moment. >> it does. in the u.s. we're much further through those earning cycles. it's been interesting because we've seen beats on a lo

sandhya: they have a much bigger presence in india.r fund, but hopefully in a few years, there will not be much difference. emily: coastal impact investing partner sandhya hegde. that does it for this edition. we will bring you all the latest in tech throughout the week. tune in at 3:00 p.m. pacific. we will see you then. this is bloomberg. ♪ ♪ it is just after 8:00 a.m. in tokyo, the first major market opens across the region. the economyour, how performed, that in the second hour. this is "daybreak asia". ♪ signs of stability, china says the economy remains on track, despite the stumble. >> the latest data expected to show the economist load last

emily: you are focused on india, africa and he used to work at sequoia in india, one of the most ventureal firms in the united states. i am serious how their approach to india is different given that that is where so much potential is right now. sandhya: they have a much bigger presence in india. they are a much larger fund, but hopefully, there will not be much of a difference. emily: coastal impact investing partner sandhya hegde. that has it for this edition. tune in at 3:00 p.m. we will see you then. this is bloomberg. ♪ emily: he says he never aspired to be ceo, yet, now finds companyrunning a aiming to prove wall street wrong. it was a match made in silicon valley have been. he became the ceo he never expected to be. hoffman stayed on as chairman. linkedin faces

interest rates in india -- in india has -- have come down.s than three years, had quite a bit of change administrative leave. playing by the rules. enforcing the rule book especially on willful defaulters. cleaning up the banking system on bad loans and enforcing new ideas. i will leave you with one quote -- the governor of the central get is not meant to facebook likes. i hope i do the right thing no matter what the criticism is. we still do not know who his successor will be. "bloomberg markets rishaad: -- thank you for that. yousef:many believe the r.b.i. r time to check in on the first word headlines. the former philippine president is in hong kong for informal talks on china. statusdiscussions on the of the south china sea. he says he will not raise the recent arbitration ruling as that is not part of his mission. high after saying it boosted capital and cut low returning assets. that thendicated expenses would remain steady. six years of record earnings are ending. cost involved in shrinking its operations in asia. barclays has a great

he opened a restaurant in southern india. the biggest challenge was to come up with a menu for vegetarian which is said to account for one-third of india's population. akimoto uses stir fried vegetables. simmering them far long time to create a textured soup. this is the product of akimoto's five months of trial and error. it costs about $8 a bowl. >> i'm vegetarian. for the first time i'm going to have vegetarian japanese style ramen. it's very yummy. i really like the flavor, the balance. i've never had something like this before, so it's very nice. >> reporter: when the shop opened, about 20% of customers were indians. but akimoto says that has risen to almost half. and that the restaurant is full most evenings. >> translator: it's a rare opportunity to be the first to enter such a large market. i'm determined to not let it pass me by. >> reporter: as 1.2 billion indians explore new cuisine, the almost limitless business opportunities are drawing restaurants from around the world. nhk world, new delhi. >>> japan's confecti