he has a very good relationship with modi that has been developing.is modi's second visit to washington, and seventh visit as seema mentioned, and this is one thing that is a time of tremendous division in the country that both of those can unite on. >> and you bring up the e election, and you were very early in calling that you did not see a contested gop convention, and i wonder given the results last night how well the table is set for the general? is this really it? quickly? >> yes, this is it. i cannot imagine a scenario, and several have talked about a dupb trump scenario, and i do not expect that to happen. >> all right. here is the prime minister of india modi speaking in front of congress and of course, as he makes headlines, we will bring them to you. and of course, political and trade ramificationa and nice collision between politics which we don't cover as much and business where the results, the hopes are real and tangible whether it is at a netflix and apple or the g.e. or amazon, and so we will keep the headlines coming as they come in.

so why is modi here? i think any leader from india and all of us will continue to make these trips over and over again just as you continue to come and engage with us. and that's really exciting. and more than anything i can tell you that our morning programming, it keeps us really busy in the morning, because we turn on cnn, and it's the best show on earth. [laughter] so we're all waiting to see what's going to happen. [laughter] >> apologies to the camera crews in the room right now for that kind of -- [laughter] thank you. ray, the u.s. perspective on this. big deal on the horizon? things happening in india, other things companies want to see happen there? love your perspective too. >> well, first of all, i want to thank you, rick, for the opportunity to be here. as rick has said, we go back 20 years. i remember him as a fresh-faced kid with a lot of hair when he first came from michigan. thanks,csis, it's a great privilege to be here. i think the question really is why would president obama -- who thi

he have that and why would modi want to come? from the u.s. perspective, this comes at a time when both sides want to consolidate the gains which have been made. those gains are very substantial. rick has referred to the indian side. are the fastest-growing major economy in the world, 7.9% in the last quarter, you are the number one recipient of foreign direct investment in the world. look toa good time to the greatest source of our and direct investment in the world which is the united states. from the u.s. perspective, i am sure that president obama sees the gains by leaps and bounds which had been made particularly on the strategic and security side. there are joint exercises, the trilateral arrangements with japan, being able to work together in afghanistan. a lot of people don't recognize that on this trip, prime minister modi's first stop was in afghanistan to inaugurate a dam which is there. indiat to do more with and not less. i see these things as a consolidation of gains which have been made. i think it's important to r

so why is modi here? i think modi will -- or any other leader from india and all of us -- will continue to make these trips over and over again just as you continue to come and engage with us. and that's really exciting. and more than anything i can tell you that our morning programming, it keeps us really busy in the morning because we turn on cnn and it's the best show on earth. we're all waiting to see what's going to happen in november. >> apologies to camera crews in the room right now for that comment. ray, the u.s. perspective on this. big deals on the horizon other things companies want to see happen there. love your perspective too. >> first of all, i want to thank you rick for the opportunity to be here. as rick as said we go back 20 years. i remember him as a fresh-faced kid with a lot of hair when he first came from michigan. thanks csis thanks cii. it's a great privilege to be here. i think the question really is why would president obama, who this will be the seventh meeting with prime minis

seema mody there on capitol hill where prime minister modi just appealed to congress. >> and yes, thereowth over 7.5% in india, and inflation is coming down due in part to the drop in oil prices, and you have a pro business leader and prime minister modi who is prioritizing the u.s./indian relations and bilateral trade which he did address to congress, and with china slowing down, the u.s. companies are taking notice of the growth in india, and jeff bezos, ceo of amazon, mentioned the growtht in the country, and announcing in front of modi last night, the inv investment of 3 billion tlrz in a company that puts the toe -- total inves tment in tech. and now, yesterday, prime minister modi and president obama announcing a nuclear energy partnership to include the production of six westinghouse toshiba nuclear houses, and so that is a big step going forward to, and become a member of the nuclear powers which they are not a member ofment and also, westinghouse's partner emerson electric, and i spoke to the ceo ed monster who expects $1 billion of revenue from the produck is shun of the six n

it's natural therapy. >> modi has called yoga soft power. he apparently believes international yoga day can make people around the world interested in indian culture and boost yoga tourism. >>> tourists from other parts of asia have been flocking to japan in recent years. singaporeans are especially frequent visitors. now a new destination lets them soak up japanese culture without getting on a plane. nhk world's derek cai reports. >> one, two, three. congratulations. >> reporter: the first spa with an authentic japanese style public bath has just opened in singapore. a local company that runs japanese restaurants is behind the venture. >> singapore is hot all year round. you would think taking a hot bath is the last thing on everybody's mind. however, singapore just opened a japanese bath house boasting a variety of baths of different temperatures. >> reporter: the spa features 11 pools and 6 different types of baths. it also has a sauna. a local company that runs japanese restaurants is behind the venture. the entrance fee is about $30 u.s

modi may be appealed in an address to congress. speech is a high point of his three-day visit to the u.s.. on tuesday, he held talks with president barack obama on a range of sus -- subjects. how did the indian prime minister present himself today? reporter: i think he did very well, it was a very american speech. it was very personal, he mentioned that when he was a younger man he traveled the u.s. from coast to coast, has seen more than 25 states. he said thank you, america, for fighting international terrorism. he said he loves american people for the values that they stand for, liberty and freedom. and let me have a look at the statistic, he was a rough -- interrupted by applause from congress almost 60 times. sarah: that sounds all nice and good, but what about the bottom line, how would you assess this trip? didn't achieve anything that was concrete? reporter: i think it is more than only a america and india are not allies, but they are some sort of partners trying to balance china's rise in asia. and this brings the u.s. and

effect i believe in me than the philistine prime minister modi with your but we didn't do that today. relates to the announcements or the discussion with the prime minister there was extensive discussion about the leading role that india played in achieving an international agreement to fight climate change and fight carbon pollution. we have said on many occasions that india's role in the process was significant, and it's unlikely we would've reached an agreement in paris last december and the indians that stepped up and shown some leadership. that's a testament to prime minister modi and his willingness to take a political risk to do what he thinks is right, not just for his country but for the planet. and he deserves a lot of credit for that. what i will also say is that prime minister recognize that there's an important economic opportunity. president obama servant recognize that and we've made the case it is more, countries around the world consider the move to a low carbon economy that creates important opportunities in the alternative energy sector. and they're sort of our impo

why is modi here? i think modi or any other leader from india and all of us will continue to make these trips over and over again just as you continue to come and engage with us, and that's really exciting. and more than anything, i can tell you that our morning programming, it keeps us really busy in the morning because we turn on cnn and it's the best show on earth. we're all waiting to see what's going to happen in november. >> apologies in the californmer on that comment. >> big deals on the horizontal. things happening in the india. other things countries want to happen there. love your perspective too. >> thank you, rick, for the opportunity to be here. as rick as said, we go back 20 years. i remember him as a fresh faced kid with a lot of hair when he first came from michigan. thanks cii. it's a great privilege to be here. i think the question is really why would president obama who this will be the seventh meeting with prime minister modi, why would he ask him and then again why would modi want

eastern with joint meeting of the senate to hear from indian prime minister narendra modi. it's his first address to congress. members will debate two bills later today. one delaying e.p.a. rules on ozone standards for eight years and changing how those pollution rules are to be created and another setting safety for oil and gas pipelines. live coverage of the house here on c-span. and transportation secretary anthony fox is on capitol hill this afternoon. he this be explaining the administration's plan for fixing today's highways and bridges. the senate commerce committee is considering a five-year re-authorization for the transportation department and various surface transportation programs. live coverage on c-span3 at :30 eastern. >> this is an amazing family story, if you think about it. cruelty, the empire has increased, there are great love affairs and it's a family where fathers kill their sons, where wives have their husbands overturned and murdered. this is a family unlike any other. >> sunday night on "q&a," simon ebag discusses his book "the romanovs 1613-1918."

modi has pledged to turn this into an act ea policy. the two leaders agreed to prioritize the completion of an india/myanmar/thailand trilateral highway. >>> indonesian authorities decided on friday to tow a boat carrying more than 40 migrants out to sea after rescuing it last weekend. the boat is believed to be from sri lanka. it was found stranded off the coast of indonesia's northern province of aceh last week. the migrants were trying to reach the australian territory of christmas island. the aceh government said on friday the vessel had to head back out to sea after it was repaired, and those on board were supplied with food and fuel because indonesia was not their destination. officials advised the migrants, who included nine children and a pregnant woman, not to continue their journey to australia, but to head back to sri lanka. activists say they should have been given access to the u.n. refugee agency. >>> india's long-standing fondness for curry is legendary. but that seems to be changing as younger and richer generations broa

modi for me but president of bob barr and address a joint meeting of congress on wednesday. will highlight the growing collaboration between the united states and india. according to the "wall street journal," modi post about progress the two countries have made an economic and security fronts as china's rise changes the balance of power in asia. lauren: breaking news this morning. tropical storm colin is expected to hit the florida panhandle as soon as this afternoon or tonight. so they could dump up to eight inches of rain on the western part of the state, eastern church and coastal areas of the carolinas through tomorrow. if you turn it is also possible today across parts of florida and southern georgia. fox meteorologist maria molina ball has the details on tropical storm colin that the. nicole: goodness in california where firefighters are gaining the upper hand on a raging brushfire. evacuations have been called off now that the fire is 80% contained. hundreds of acres in several buildings have been burned. clouds of gray can be seen for miles. >> the fire was not done

and modi himself was refused entry to the u.s.2005, after religious riots killed more than 1,000 muslims in the state he governed. but since becoming prime minister, in 2014, he's worked to foster new cooperation with washington. sumit ganguly is a professor of political science at indiana university in bloomington. >> unlike a host of other indian prime ministers who had cut their political teeth during the cold war, and thereby harbored all manner of misgivings about the united states, modi does not carry the same sort of political baggage. >> brangham: the two countries share growing concerns about china's assertiveness in the asia-pacific. climate change could be another area of agreement. modi suggested yesterday that india-- the world's third largest emitter of carbon-- could join last year's paris climate pact by the end of this year. >> to take from nature only what is most essential is part of our indian culture. >> brangham: still, serious differences remain. human rights groups say modi has failed to stop indentured ser

indian prime minister modi continues his three-day visit to washington. he met at the white house. today he addresses a joint session of congress. checking in right now. ahead of the up and about, that after the dow site 18,000 for the first time up seven points. s&p futures and nasdaq futures higher by one each. nicole. nicole: thank you, lauren. a big night for hillary clinton and donald trump and bernie sanders bowing to stick it out till the convention. what is this all mean and for what is more than what comes next, shone trendy. is the senior elections analyst for real clear politics. earlier, this morning bernie sanders said he's staying in this race and taking it all the way to philadelphia. contested convention not even possible. what chance does he have to this off? >> i think it's not particularly possible unless there's some black slime like an indictment. hillary clinton falls further behind donald trump. i just don't think it's likely he will be the nominee at all. lauren: sean, if ernie kent pull this off, word of voters go? will they switc

president, i came to the floor to talk about the visit of prime minister modi of india and his speech this morning in an amendment i have, but listening to the senator from washington, i have to just express my sense of wonder and amazement at our democratic colleagues for whom no amount of money, no growth in the size of government is too much. and while i am certainly sympathetic to the senator from arizona's amendment, which would increase defense spending at a time when there's a greater array and greater diversity of threats to our country than the director of national intelligence, james clapper, has seen in his 50-year career, the idea that because we want to take care of the number-one priority of the federal government -- which is national security and self-defense -- we have to somehow use that to leverage more spending in other areas that are non-defense-related is simply unacceptable, particularly at a time when our national debt is $19 trillion. now, the other day, i happened to be speaking to a young woman who asked me -- said, well, what would you tell me to tell my pee

>> it puts the spotlight back on prime minister modi.ing to see if he delivering on reform. he has been making progress, but it is a mixed bag. is a blowure of rajan to india's policy making machine. it will be interesting who is appointed next. it might be difficult to attract indian talent to come back and work, so they may have to reach for the bureaucrats. who prime minister modi chooses and how they go about it will be the critical thing. rishaad: thank you very much. economists to consumers have been weighing in on rajan's departure. politics in play on the speculation of what happen and led to this surprise announcement coming from raghuram rajan. prime minister modi's government was caught off guard because this was before they made any announcement of a new governor or what would happen next, but the finance chief did not do much. in light of the criticism we had seen against the governor, particular from one out swor outspoken lawmaker. he has cut rates five times since january 2015. some people are saying give credit where cre

name was modi.i've come to the realization in recent years that that was his last name. everybody called him modi. and for many, many decades he was in engineering and he moved to new jersey and we kept in touch. so, mr. president, i'm happy that the prime minister is going to be able to address our nation in the house of representatives, and i'm sure his people look forward to that. again, i tell everyone here my warmness for indian, this great democracy, second largest muslim population in the world is in india. so it's a friend that we have, and we must maintain that -p friendship. mr. president, i just left a meeting a few feet in back of us. stunningly important meeting. every one of the guests were prominent but the two i want to refer to briefly here is dr. frieden, head of the centers for disease control; and faucie from the national institutes of health. he's in infectious diseases, among other things. it was very frightening what they told us. as we speak there are three confirmed cases of

>> thank you very much, seema mody. once again, second year in a row where msci says no. you know, we were talking earlier on "power lunch" making the point, and you were making the point, there has not been a run-up going into this potential inclusion date we saw last year. so investors may not be caught offguard by this decision. >> and if you talk about the massive respect to the local stock market in china, there's been a lot of quotes in the press over the last couple days, they're not even talking about stocks anymore. we're down 40% from where we were. essentially you've dragged sideways around 3,000. do i think that the authorities or essentially the folks that are there to add some tranquility and smooth out some of the volatility are at play here? yes. just to be clear at a time when all we need is for the chinese market to implode, i don't think this is a driver for that. for eem, it's not even in the eem. 26.6 without the market. >> what is the mechanism where they decide to include -- is it once a year thin

. >>> india's prime minister modi is on a visit to the u.s.will be addressing congress at 11:00 a.m. eastern time. modi meeting with barack obama yesterday and attending an event with amazon's ceo jeff bezos. bezos announcing that his company would invest $3 billion in india. bezos calls india amazon's fastest growing region. >>> in other news, ousted lendingclub ceo is reportedly looking at it as a takeover of the company. he left the online lender last month after a probe found the company falsified documentation when selling $22 million worth of loans to an investor. >>> the stocks to watch. dave & buster's is raising its four-year guidance. the operator of restaurant and arcades said it did well, despite challenges affecting of its dining rivals. the chain is launching a $100 million stalk buyback. and oxford industries cutting its first quarter forecasts. the maker retail brands such as tommy bahama and lily said it was with apparel. verifone is cutting its outlook after weak results. the payment technology company says it's launching a s

that is the problem for primus to modi now. angie: is it enough to derail the india story?ould certainly done damage it -- damage it. the inflation mandate, the new rbi board, that should continue, even when he moves on. appomattox --ng apparatus and whether the political will will he thereby his successor. it is too early to tell whether the wider prime minister modi project of india, but in the near term, i think it's fair to consider it a significant blow at the very least. angie: absolutely. watching the story closely. thank you so much for that. >> checking other headlines this morning. alibaba unit is planning to buy thailand toin become a key player in financial services. ant financial once the option to smallse by 30% and offer loans. reported the struggling steelmaker arrium five mins before the election. primus or tumble will provide $36 million in machinery. prime minister turnbull described it as a no regrets investment that will improve profitability and create 2000 jobs. said to be trod from the hang seng family of indexes because their high shareholding conce

president barack obama and indian prime minister narendra modi. tities between the u.s.nd ind have become closer under the obama administration's efforts to focus on asia. earlier this year the coununtr defense officials reached a deal to cooperate on logistical support. >> as the world's two largest democracies and couountries wit strong bonds between our peoples, our businesses, our scientific and educational communities, it's natural that the united states and india have deepened and broadened our partnership across a whole range of issues. >> modi said he is proud that the u.s. and india are using their friendly relations to exercise leadership together. >>> experts with japan's science ministry have been looking into what went wrong with a satellite that spun out of control and have concluded that human error was to blame. the japan aerospace exploration agency launched the hitomi satellite in february. it cost about $300 million to develop. the agency wanted to use it to study black holes and other mysteries of the universe. but they lost communication with it in l

a very warm welcome to "worldwide exchange" on cnbc i'm wilfred frost alongside the lovely seema modihis morning. welcome back. we'll hear your meeting today. very cool. and also a throwback theme for the music today. what song was that. >> rihanna. >> -- i was just joke. the theme for throwback thursday is early 2,000. millennial theme. let's get to futures. yesterday we had about a quarter of a foerkt a third of one percent for gains. the dow called lower by 38 points the nasdaq by 12. the s&p 500 by about six points. in general the u.s. markets have been much more resilient than their counterparts. let's look at the 10 year note here in the u.s. we've seen bond buying in recent days since the jobs number last friday, and yellen earlier this week. and that's continued. the yields have been pushed down. below 1.7% this morning at 1.675. >> overseas trade this morning. closed for the dragon boat festival. south korean central bank surprising markets by cutting the key interest rates to a record low but that did not give stocks a boost. japan we're in fact seeing a stronger yen and the

>> seema mody, thank you. >>> now your nbc 10 first alert neighborhood weather. >>> tracking light rainhe area. the first of it moved into northern delaware, wilmington getting some very light rainfall this morning. good for the grass at frawley stadium. clouds overhead will produce more showers. south philadelphia also getting light rain right now. no wind. you can see the wind mill on top of lincoln financial field are not moving at çall. 66 degrees, the time is 5:26. jessica boyington is in the first alert traffic center. >>> we are paying attention to septa's broad street line right now. it is suspended, heading northbound until further notice because of a power outage and accident on the boulevard. the southbound service has resumed but they're shuttle busing service from some stations. >>> the fatal hit and run that killed an 18-year-old man in philadelphia. hear from the victim's father and the final moments he spent with his son. >>> good morning, i'm matt delucia, live in cape may. we're wrapping up a week-longshore tour here at the tip of southern new jersey. a couple big thi

prime minister modi: mr. speaker, mr. vice president, distinguished members of the u.s. congress, ladies and gentlemen, i am deeply honored the invitation to address this joint meeting of the u.s. congress. thank you, mr. speaker, for opening the doors of this magnificent capitol. this temple of democracy has other ed and empowered emocracies the world over. it manifests the spirit of this in abraham which incoln's words, "was conceived n liberty and dedicated to the proposition that all men are reated equal." in granting me this opportunity, you have honored the world's largest democracy and its 1.25 billion people. as a representative of world's largest democracy, it is indeed privilege to speak to the leaders of its oldest. r. speaker, two days ago i began my visit by going to the arlington national cemetery, the final resting place of many brave soldiers of this great and. and ored their courage sacrifice for the ideals of freedom and democracy. it was also the 72nd nniversary of the d-day. on that day, thousands from to great country fought rotect the torch of liber

it does seem modi is trying to balance international appeal with domestic popularity.ooking at what was said at last week's bank of japan policy meeting. the next trouble spots are traders and why the referendum is not the only threat to the markets. ♪ rishaad: the u.k. referendum is dominating global markets but on this side of the world have issues. for example, the tensions in the south china sea. theimplications -- here is deputy head of asia for research. thank you for joining us. the south china sea is a powder keg potentially. the thing is how where he should we be -- wary should we be? >> we don't think a major conflict is likely anytime soon. we think that is a remote possibility. however, the biggest risk for countries and companies that have assets going through the south china sea would be unintended escalation as a result of conflicting claims by different countries such as china, vietnam, the philippines, malaysia and so on. rishaad: that is just it. could we get to weigh position where the sides become so polarized that doing business in one jurisdiction

but modi's plan has fallen well short of the targets. india has fallen 47% short of its construction target for household louves. china is also undergoing a so-called toilet revolution. china's central government has earmarked money for toilets in an effort to meet u.n. targets and to boost tourism. you see western tourists don't look kindly on traditional chinese facilities. as in so many areas, china is beating india hands-down. the financial times reports that the revolution is well underway and government agencies say that china will meet the u.n. targets. there is even a trump toilet in china which the manufacturer claims was not inspired by the presidential candidate. make pooping great again, foreign policy declared. party humor aside, the economic benefits are very clear. the world bank estimates that in 2006, inadequate sanitation cost india what amounts to 6.4% of its gdp, globally the u.n. estimates that lack of proper sanitation and water cost developing countries about $260 billion each year. more importantly, there is the l

modi will visit washington.d open the hydroelectric dam and will discuss media power when he is in switzerland. he will make a speech on capitol hill before finishing his global tour in mexico. frankfurt airport has been sold to an unidentified buyer in china. the civil aviation development known to have been in talks. the reports do not mention the successful bidder. the vehicle is a copy of the land rover. similar door panels. powered by over 2400 journalists around the world, this is bloomberg news. angie: welcome back. joining me now, we have johanna chua. we talked about the fed. let's bring in china. no doubt there is a sigh of relief that there is no move coming out of the fed likely in june or july. >> that eases it. >> where does it go from there? we will get a hike eventually. not as bad -- bad is the wrong word. >> we used to have been even more bearish forecast. even dollar relative to asia, if you look at the dollar index forecast, dollar stabilization -- that is a bit of pressure off of the asian c

." >> today, indian prime minister narendra modi addressed a joint session of congress. he emphasized india's shared values of the u.s. and cooperation in promoting stability in asia. he is the fifth indian prime minister to speak to congress. this is an hour. sergeant at arms: mr. speaker, the prime minister of the republic of india. -- e minister modi: the speaker: members of congress, i have the high privilege and the distinct honor in presenting to you his excellency, narendra modi, prime minister of the republic f india. prime minister modi: mr. speaker, mr. vice president, distinguished members of the u.s. congress, ladies and gentlemen, i am deeply honored the invitation to address this joint meeting of the u.s. congress. thank you, mr. speaker, for opening the doors of this magnificent capitol. this temple of democracy has other ed and empowered emocracies the world over. it manifests the spirit of this in abraham which incoln's words, "was conceived n liberty and dedicated to the proposition that all men are reated equal." in granting me this opportunity, you ha

our own seema mody live in washington.re, seema. >> reporter: it is, simon. invited by house speaker paul ryan will address congress momentarily where he will likely identify the key opportunities and investing in india's growth story from its intention to build out infrastructure, from its also importance behind developing nuclear energy to also constructing a landscape where u.s. technology companies can prosper. last night jeff bezos, ceo of amazon, did address the u.s.-india business council among others where he showed strong support for modi's campaigns and also announced $3 billion investment in india which brings total amount invested in the country to $5 billion. we know india's demographics make it an attractive destination for foreign investors, over a billion people, half of which are under the age of 25. so you have this young vibrant digital savvy audience that is using more consumer and digital devices, hence the reason we're seeing many of the u.s. tech companies from amazon to apple trying to gain more mar

the timing of modi to washington is interesting because it comes after china and u.s.elations are falling after the dispute in the south china sea, and the commentary coming from the strategic economic dialogue in beijing, and there are reports that the tensions will continue to escalate with u.s. and china, and that is why they say that the partnership in india will give the u.s. a ability to maintain a stronger ability and influence in asia and counter balancing china. that is something top keep an i eye on. and modi has a packed schedule here in washington, including a key meeting tonight with the u.s. india business council where are a range of the american ceos and the executives will be including including jeff bezos, and innooyi of pepsi, and we will give you the highlights as they come in. >> yes. thank you, seema. >> and now, coming up at the halftime report, we will will look at lululemon before the end of the day trading. this just got interesting. so why pause to take a pill? and why stop to find a bathroom? cialis for daily use, is the only daily tablet ap

>> thanks so much, seema mody. it's interesting.here's so much optimism over a couple of weeks where a lot of analysts came out and upgraded the stock and ran up to 14 and now what? >> i'm still long the stock, and i've been one of those guys that have actually averaged on the way down, which i hate doing. it's always wrong and couldn't help myself from doing it because every time you look at mike ron. if you get it below "x" price it's a bargain or get it below this price you've got to really love it. i've been averaging and waiting for this turnaround-type story and maybe you see a pop from it for positive headlines going forward. >> from 9.5 to 14 in a month, month and a half. >> amazing. >> the stock trades down. it has to hold $12. 12 is your boeingy. >> now to a little dose of stock therapy. biotech is down nearly 4% since monday but the biggest names in the sector could be a steal right now according to the street. our resident stock therapist meg tirrell is here to explain. >> earlier this week on all the brexit concerns we

per prime minister modi finally bit the bullet, meaning greater competition. changing times.rseas carrier saying here? ore we heard from airasia singapore airlines? response, if you ask me. singapore airlines and the like say they will study the policy before they say anything. emirates says it aims to address some of the challenges. moveia ceo welcomes the that is a tad critical. he said the minimum fleet requirement of 20 is too many, but he did thank prime minister modi for the changes. we are told that airasia plans to build its fleet to 20 from the current six and plans to invest in asia. the sense is that india should embrace open skies and remove all the restrictions. it takes 36 months to get an airline started, 3-4 years to build a fleet of 20 planes, so it will take some time. rishaad: thank you a lot for that in singapore. rally in itsn a bond markets, but investors are catching their breath from the rise. how much debt to these chinese companies really have? >> nonfinancial firms have to repay 2.2 trillion yuan in the second half, a record amount. a lot of this is

went by minister modi meets barack obama this week.ngton as part of a five nation tour. he helped to open afghanistan's biggest hydroelectric dam and will discuss nuclear power in switzerland. he will make a speech on capitol hill and meet business leaders before finishing in mexico. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. rishaad: now the chairman of the ani saypower giant ad they may abandon a development. let's get to sydney and paul allen. it is the carmichael mine. we are talking about it earlier. there have been? 's over those mines for some years now. there have been environmental challenges over those mines for some years now. insignificant project, $16 billion will be spent to mine this project. it would create 5000 jobs, ani, should about 11 billion tons of coal, and it needs infrastructure as well. that has been one of the bones of contention, because that is close to the great barrier reef marine park. environmentalists already have a commitment that the dredge spoil it wil

hasan prime minister modi helped open afghanistan's biggest hydroelectric dam.boostn afghanistan's power capacity by 10% and provide irrigation water for farmland. modi called it a historic moment of emotion and pride relation to the two countries. india has invested $2 billion in afghanistan since 2001, including construction of the new parliament building. peaked inseine has paris at the highest level in almost 35 years. it is slowly descending after reaching a height of 4.5 meters above average. it could take up to 10 days for the river to turn to normal with the louvre to be closed for at least four days. there were serious flooding in france, germany and belgium. at least four people were killed in france and 11 in germany. ,000 peopled 125m0 have gathered in hong kong to, mourad -- to commemorated the tiananmen square massacre. they clashed with visual organizers. they shouted slogans as they were also away from the main stage. the disruption underscored tensions in hong kong on how to counter china's growing influence. powered by over 2400 journalists in

by prime minister modi and pleased to have the federation and leader of csi to join me here on stage. you look at later today and air india one will arrive in washington, d.c. you'll see a visit to arlington cemetery, engagement with think tanks. a lot of events planned over the next couple of days, both with the administration as well as with congress. modi's fourth visit since becoming prime minister just two short years ago and this will be the third focus submit between president obama and prime minister modi. >> all the questions that we get are what's the significance, what's it were importance about these meetings. if we don't see a nuclear agreement like we did in 2005, was it really a successful visit which is always a hard measure i think, but i think the fact that you've got such a frequent engagement between the two is both the reason and indicator of progress that we've seen on a wide range of fronts. i think u.s., india relations today are the strongest they ever have been. probably more so on the defense and security side. last year with the release of the joint strateg

very good morning and warm welcome to "worldwide exchange" on cnbc i'm wilfred frost alongside seema modyoining us for the next hour, ron. great to be with you all. let's get you up to speed on the markets movements. yesterday we were higher but only slightly by a quarter or half a percent for the nasdaq. we're just losing about that amount this morning. the dow called lower by 72. the nasdaq by 30. the s&p by 11. although we are down at the moment we are still up for the week. sorry slightly down yesterday. got it wrong. slightly down yesterday but all three are still up for the week as a whole. let's have a look at the bond market. as well the 10 year treasury note has seen significant yield compression in the last week or so. we are near the lows as you can see from the chart. 1.67. one of the key drivers though is bonds elsewhere. and we'll get to that. >> currencies and commodities are a big overall market drivers right now. take a look at the u.s. dollar slightly lower against the japanese yen. the euro though lower against the u.s. dollar. so a mixed trade for the currency market.

prime minister modi meets president obama this week.elped open afghanistan's egg is -- biggestic dam hydroelectric dam. they will make a speech on capitol hill and meet business leaders. china's government may have a bigger problem than slowing growth. a new report suggest the nation's jobless rate may be three times the official estimate. indicatoremployment has tripled to 12.9% over the past four years. the official unemployment rate has hovered near 4%. the official gauge excludes china's more than 270 million migrant workers. the world's biggest oil exporter has raised prices on most of his deliveries to asia and the u.s. saudi aramco increased its official selling price by $.30 -- $.35 more than the regional benchmark. saudi arabia has said demand for oil reserves, and crude has rallied 60% over the past four months. the worst is over after two the uae spending cuts, is projecting economic growth to accelerate and is planning projects. the chairman of the department of economic development told bloomberg television that the budget

modi will go with someone he likes to a safer, someone who will not target in ration, someone who willot knocked down banks and deal with corruption there -- that's wrong? bigger risknk the is on the tone and the enthusiasm with which a new governor would go about continuing to focus on inflation and monetary policy. in both ofocked those trajectories, both of those directions, but the level of enthusiasm for the new governor will be important in how the r.b.i. goes about this mandates. they cannot change the mandate, but they can certainly change the tone and the pace. alix: all right, who was on the short list? who do you think will get that spot? a huge spectrum of names and there's a large number of people that could fill his shoes credibly and competently.- i think you have safer options that will more clearly pursue policies, people like the patel rbi governor and you have bureaucrats, particularly the current economic affairs secretary and many would see that appointment as a signal the government really doesn't appreciate the in.i.'s growing independence recent years and would

we turn to seema mody. >> good morning. let's start with the markets first.wall street may be in wait-and-see mode until we get the big economic news of the day. stocks closing modestly higher. yesterday reversing earlier losses. we get that monthly jobs report before the opening bell. hiring expected to be solid once again. numbers could be impacted by the verizon strike that just ended this week. unemployment expected to hold steady at 5%. nasdaq adding about 19. walmart plans to attempt grocery delivery with the help of uber and lyft. it holds a shareholder meeting today. tests will start in denver and phoenix. walmart will charge a delivery fee of $7 to $10 and will notify when your order is being sent. online groceries, a nearly $11 billion industry in the u.s. starbucks teaming up with anheuser bush on the fast-growing ready to drink tea business. they will debut some time next year and sold in supermarkets and other retailers. starbucks sold $1 billion worth of tea in its own stores in the past year. >> there you go. here is to something refreshing. >>

seema mody joins us from washington, d.c. hey, seema. >> that's right.ers of the two largest democracies in the world meeting today at the white house, unveil agnew clear energy partnership which will include the production of six westinghouse nuclear reactors in india, ujds scoring modi's efforts to not only elevate his economic status but also his development of nuclear energy. the leaders also discuss tackling climate change, unveiling a clean energy pac, also emphasizing the importance of the u.s., india, bilateral relations. remember, india, the fastest growing emerging market in the world. also it bears political importance as well. there's no secret that u.s./china relations have deteriorated in the past two weeks due to the ongoing issue in the south china sea. u.s. potentially sees inindia as a way to strengthen its presence in asia while also counterbalancing china. tonight, though, an important night for prime minister modi expressing jeff bezos, and others. and tomorrow he'll address congress and the question is whether the prime minister of

for cnbc morning business report, i'm seema mody. you. >>> and you can head down to the the usda farmers market at night. they will have vendors with the best meat, eggs and vegetables and plants. it will open every friday from 4:00 to 7:00 through the end of september. >>> the annual herndon festival continue this is weekend. you can enjoy music, food and fun beginning at 5:00 p.m. it runs through sunday in historic downtown her donndon. pets are not allowed on the premises for this event. >>> comic book fans will descend. awesome con is the biggest pop culture convention in d.c. this year it features celebrity guests from tv and movies as well as is an he wipanel discus. >>> in just 24 hours, as part of the 20 more 24 campaign, you helped raise more than $1,460,000 for local nonprofits. i was at an event at target and erika gonzalez was at another event. check out the nbc washington app to see who is benefiting most and you can mark your cal endhars, next year's dave giving is june 2, 2017. >>> court out of order. a murder victim's

. >> let's get to seema mody in the newsroom. >> uber receiving a $3.5 billion investment from saudiestment fund. the investment is part of an existing funding route. keeping the valuation at $52.5 billion, and does not cash out any existing investors. now, as part of the deal, a managing director at the fund will get a seat on uber's board. >> seema mody, thank you. $62.5 billion valuation, pete na jer yan. >> i'm just trying to figure out different ways, i know it's not a comparable. to put uber at that valuation is staggering. >> you want to talk about the long-term threat to gm, it's uber. there's plenty of wall street analysts that talked about ride sharing is going to cut car production in half over the next five to ten years. this is a staggering amount. i believe it's the largest single investment in a private company ever made. you might want to check the facts, but pretty close to that. and it's being done by a country that has made a living off of fueling cars. >> i have a question, though. i'm not an expert in cars at all, as everybody knows. >> agreed. >> everybody knows

modi, and there is an ongoing dialogue with china having to do with the south china sea, with cyberspacewith other issues. how could we bring the three of them together? anja: this is the core question in the book. it's not going to be easy, but china and india will have as dramatic of an impact on the united states as any two other countries on earth, just to give you some examples. by 2030, they will be the world's largest markets for our companies, with 3 billion people between them and the world's fastest-growing middle classes. we used to think we could solve some of the world's biggest problems, such as climate change, if just the u.s. and europe got along, but unfortunately that's no longer the case. china is the world's largest carbon emitter, and india is the world's fastest-growing. so we need them to tackle these problems. i argue that we need to be clear where the lines are. we are going to have interests that are separate from theirs, especially with china, we have all those issues you pointed out. so we need to be clear and consistent and keep the burn low. on the south chi