india rupee is falling fast and how. linking the rupee woes to the emerging markets.e chart clearly shows, there are things closer to home as well. if you look at the chart, the trade deficit is shown by the following line. the widest since 2013 which is also one of the factors impacting the rupee. india does not have much control of the external risks it faces, it can look at the trade deficit data and try to cut down on the nonessential imports to get the rupee, to support the rupee at this time. we have productions coming down that the rupee could go down as much as 75 to one dollar. rishaad: that is a great chart as well. this is a tough one, guys. david: here we go. rishaad: what is your viewpoint ? i will judge today. david: we talk about the rupee a lot. a lot of people know about the trade deficit. rishaad: especially in that situation. david: yeah. i like the iron ore chart. that is my opinion. incremental information. rishaad: sorry, not today, but great stuff anyway. it was difficult. crystal, thank you so much. if you want to have a look at that chart, the

rupiah -- the rupee sank to a new low. indian stocks also fell, extending losses after the worst week since june. the rupee has been asia's worst-performing currency for the past month. global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm paul allen. this is bloomberg. ♪ isid: premier xi jinping meeting with vladimir putin later this week. chinese first time the state is attending the russian-led forum. discussingey will be the tensions with the u.s. and their own strengthening ties. what is expected out of xi's attendance. >> that's right, quite didn't -- quite significant that she's --ing is here, the first quite significant that xi jinping is here. said herump last week is ready to go all in, willing to add short notice put tariffs on all chinese imports. and from that rush us i, moscow is looking to pin it more towards beijing as they fit -- and from the russia side, moscow pivot more to hit they haveijing as your sanctions. we also h

also this week india's rupee it's not the worst performing currency in asia we'll take a look at why. plus why an upcoming election is causing ice cream sales to melt away in kabul. when the world's two biggest economic powers engage in a trade war the rest of the world is left watching of wondering where it will all end if this week is anything to go by it could mean an escalation the ongoing protracted tit for tat trade dispute between china and the united states did intensify this week so much so that it prompted a warning from the o.e.c.d. the paris based think tank says that the world's economy can't keep growing if things don't improve on the trade front china has now slapped tariffs all around sixty billion dollars worth of u.s. goods that move a retaliation for the latest round of u.s. tariffs on two hundred billion dollars worth of chinese products al-jazeera scott hype the reports now from beijing. within hours of the u.s. announcing a second round of tariffs on chinese goods beijing responded. the chinese commerce ministry saying it had no choice but to retaliate and it hop

candy rupiah and the rupee stem the slide in their currencies?currencies are expecting a spillover affect —— can be. these two countries are prone to trade deficits, and this is the issue, their suspect to higher oil prices. inder particularly. looking at the indian economy, it has an eye watering 8.2% gdp on friday, but trade is focused on trade balance. when trade balance is front and centre, driven primarily by higher oil prices, this becomes a bit negative and this is what is driving the weaker currency in my view. the indian rupee is at a record low and the indonesian rupiah is at two decade low levels we haven't seen since the 1997 asian financial crisis, is there a risk for other emerging asian currencies to be affected by what has happened to the rupee and rupiah? all the emerging market currencies in general are on that slippery slope, and we're starting to see possibility of an escalation and a trade war with china bring more... bring other currencies onto that slope. yes, there could be more contagion through the based. but we're seein

of left businesses unhappy and there are fears of protectionist policies being put into place the rupee is now the worst performing currency in asia despite government efforts to turn the tide india is often referred to as the world's fastest growing large economy but its currency has hit a series of record lows versus the dollar over the past few months that weakness in the currency has coincided with rising global oil prices compounding the pain all of this means that the current account deficit has widened its not two point four percent of gross domestic product so far growth has held up gross domestic product grew eight point two percent from april to june and that's its fastest rise in two years but there are worries that it may take a hit to the finance minister it india is out and jaitley he's blamed the depreciation of the rupee on global factors including the us china trade wall joining us now from glasgow is greg when greg is chief economist at global counsel greg good to have you with us again and counted the cost of what is going on at the moment with the with india's econom

day decline, the rupee trading at a new low.e gdpupport report from the currency as well as bonds that has evaporated in the face of a stronger dollar. jp morgan saying the weakness wilfork and tighten monetary policy as early as next month, given that the rupee is the joker in the pack. there might be some room for signal that the too fark has fallen too fast. down,da: markets are thailand's one of leading political figures who is confident his country will return to democracy early next year. the nation has been ruled by the military since a coup in 2014. the leader of the democrat party electionhe believes an is on the horizon. i'm not sure it will be in february, but we are confident it should be held in the first half of next year to be a. we offer a different alternative. we think the country needs to move away from the current conservative and bureaucratic and centralized regime. it cannot address changes happening in the world. we do not think the country should go back to regimes that are corrupt. -- centered around pop

of left businesses unhappy and there are fears of protectionist policies being put into place the rupee is now the worst performing currency in asia despite government efforts to turn the tide india is often referred to as the world's fastest growing large economy but its currency has hit a series of record lows versus the dollar over the past few months that weakness in the currency has coincided with rising global oil prices compounding the pain all of this means that the current account deficit has widened it's not two point four percent of gross domestic product so far growth has held up gross domestic product grew eight point two percent from april to june and that's its fastest rise in two years but there are worries that it may take a hit to the finance minister it india is alan jaitley he's blamed the depreciation of the rupee on global factors including the us china trade wall but joining us now from glasgow is greg when greg is chief economist at global counsel greg good to have you with us again on counting the cost of what is going on at the moment with the with india's econ

of left business is unhappy and there are fears of protectionist policies being put into place the rupee is now the worst performing currency in asia despite government efforts to turn the tide india is often referred to as the world's fastest growing large economy but its currency has hit a series of record lows versus the dollar over the past few months that weakness in the currency has coincided with rising global oil prices compounding the pain all of this means that the current account deficit has widened it's not two point four percent of gross domestic product so far growth has held up gross domestic product grew eight point two percent from april to june and that's its fastest rise in two years but there are worries that it may take a hit to the finance minister it india is out and jaitley he's blamed the depreciation of the rupee on global factors including the us china trade wall joining us now from glasgow is greg greg is chief economist at global counsel greg good to have you with us again and counted the cost of what is going on at the moment with the with india's economy wh

to make matters worse for the struggling economy the sri lankan rupee has lost almost nine percent of its value against the dollar so far this year and worse is expected. the devaluation has a former president demanding to take over you don't like them because. for god's word out about anything in this radio i mean if you want to discuss. you want to excess. oh the first thing is do i look for the operating for government ministers or dismissing rajapakse as complaints and see his former administration cause the problems this from this. eighty three percent of the good. and of course we would have had to we have had to pay. lorne's in order to said previously that. but while doing that while doing all this while grappling with both my own good i'll get that out about. we have also managed to bring me who. sphere. while the government and opposition trade accusations about who is to blame for the economic problems many sri lankans are struggling to make ends meet among them the war the nuns who are determined to stay afloat and make a go of their business despite the odds going to fina

india is also not fairing too well right now the rupee has lost ten percent against the dollar since march this year but argentina's been the worst hit so far austerity measures have unleashed wave upon wave of anti-government demonstrations the unions take to the streets of corners ariz on an almost daily basis argentina's peyser has lost eighty six percent in value against the dollar over the last six months. immediate casualty of that very crisis is argentina's construction sector it is said to cut some forty thousand jobs in the coming months as high interest rates financing and the government's scales back infrastructure projects to the massive budget deficit the government has announced a raft of a sterile measures this week as it seeks to slash the deficit and restore confidence in the past so which has lost more than half of its value as we've seen so far but those measures won't come quick enough for those working in construction. it's large public infrastructure projects like this railway line in that will take the biggest hit argentina's central bank is holding interest ra

also this week india's rupee it's not the worst performing currency in asia we'll take a look at why.plus why an upcoming election is causing ice cream sales to melt away in kabul. when the world's two biggest economic powers engage in a trade war the rest of the world is left watching and wondering where it will all end if this week is anything to go by it could mean an escalation the ongoing protracted tit for tat trade dispute between china and the united states did intensify this week so much so that it prompted a warning from the o.e.c.d. the paris based think tank says that the world's economy can't keep growing if things don't improve on the trade front china has now slapped tariffs all around sixty billion dollars worth of u.s. goods that move a retaliation for the latest round of u.s. tariffs on two hundred billion dollars worth of chinese products al-jazeera scott hides the reports now from beijing. within hours of the u.s. announcing a second round of tariffs on chinese goods beijing responded. the chinese commerce ministry saying it had no choice but to retaliate and it ho

the rupee has taken an absolute beating as well. could bounce back because it's one of the most undervalued currencies in the world? mark: absolutely. one of the things we talked about yesterday was the idea that september made a big turning point. andiscussed dollar weakness e.m. fx strength. we have also seen much more differentiation. some currencies have continued to weaken. there are quite a few others that has strengthened significantly from their loads. -- lows. the next one to follow in that sphere of saying, we have seen the bottom, we are going to rally, is the indian rupee. .rowth is exceptionally strong the currency has been beaten down a long way. there is a real chance for the rupee to get momentum if we see this macro turning shifts in dollar weakness and e.m. fx strength. anna: let me ask you about another emerging-market. we get a central bank decision in russia later today. what is your expectation? mark: i think people have begun debating whether there will be a hike or not. say, either 50 basis points or nothing

the rupee down, the lira down. how much worse could this get?en: just when you think they are down so much, and people come on our shores and say the weaker they get, the more you may see buying opportunity. president trump throwing few on the fire. there is an individual story to explain this. president trump saying china tariffs will be good for us, used u.s. many fracturing -- boost u.s. manufacturing. this comes at a time when the emerging markets are grappling with the fact that the era of global liquidity is ending, led by the federal reserve raising rates, ending the easing of money. governments from india, to turkey, trying to restore investor confidence. as you say, jump into the bloomberg library for what of our #gtv charts. what you are going to see is trade barbs from trump really being blamed for sinking this msci emerging markets index to this low. it is the lowest we have seen in 17 months. look how well emerging-market currencies were doing just a few months ago. troubling tois so many investors. our bloomberg news team caught wi

indian rupee out to new weakness. francine: i like that. the indian rupee deserves more attention.am looking at. u.s. futures drifting with stocks. chinese government saying they will not devalue its currency. we know that she kick executive --danske bank is resigning the chief executive is resigning. that bank is at the center of a money laundering scandal. let's get you to the bloomberg terminal. tom: please. francine: this is what we will push out on social media. you can see the size of danske banks balance sheet compared to the size of the danish economy. tom: wow. that is something. we need to start our coverage of enforcing 10. yes, it is on trade. importantly is a debate. has been watching the kavanaugh hearings. it is an overnight issue, the idea of the fbi looking at a matter from i believe 30 plus years ago. what is the likelihood the fbi will be in the process of mr. cavanaugh's nomination. kevin cirilli we don't know yet. >> chuck grassley says this hearing will proceed on monday with testimony from brett kavanaugh, who is denying these allegations made against him. ye

to make matters worse for the struggling economy the sri lankan rupee has lost almost nine percent of its value against the dollar so far this year and worse is expected. the devaluation has a former president demanding to take over all part of the don't fuck with them because after. all god we're not monitoring anything that's radio i mean if you want to discuss. that we want to. own the first thing is. that we operate in twenty. government ministers are dismissing rajapakse as complaints and say he's former administration because the problems this from this year. eighty three percent of. the popular and of course we would have had to we have had. lorne's inaudible said previous of it. but. doing all. my own good job. we have also been trying to bring in. who. while the government and opposition create accusations about things to blame for the economic problems many sri lankans us struggling to make ends meet among them the job or the nurses who are determined to stay afloat and make a go of their business despite the odds with the lenders al-jazeera colomba. out some news from venez

to make matters worse for the struggling economy the sri lankan rupee has lost almost nine percent of its value against the dollar so far this year and worse is expected. the devaluation has a former president demanding to take over. you don't start with them because from. god we are monitoring it let's review i mean if you want to discuss. that we want do we accept. only the first thing is too early for the operating twenty. government ministers are dismissing rajapakse as complaints and see his former administration cause the problems this from this year's victory primos eighty two percent of the good work from the prosecutor and of course we would have to we have heard the lawns in order to say previous to this. but while doing the while doing all this while grappling with both my own good of the. we have also managed to bring me who of spirit. while the government and opposition treat accusations about schools to blame for the economic problems many sri lankans us struggling to make ends meet among them the war the neighbors who are determined to stay afloat and make a go of their

the real whipping point of emerging currencies is the rupee up by one cents of 1%.to the 15,000 level. haidi: thank you so much for that. let's go over to singapore and bring in joseph. to be kept in suspense, waiting for the philippine inflation numbers, let's talk about the rupee. in terms of the downward pressure when it comes to emerging-market currencies in this part of the world, you look at contagion -- there is not much economic passage. how bad does it get on the basis of the spillover and sentiment alone? exactly, you can call it whatever you want. contagion, cost correlation but not much has changed. there is aa, yes, pretty steady but gradual current account of deterioration but it is reflecting what is happening. the reason why indonesia is so sensitive as you frequently talk about is because of the financing it has for the current account at there is a chunk of a poorly of investment for the country. asia will continue to reflect what is happening in emerging markets. with: this is happening the rupee close to a record low despite ranking nation of com

rupee will-- the come under pressure.h oil being the biggest import component for india, the trade deficit is likely to widen if oil prices keep continue to go higher. they have been buying a fair bit of oil from iran. that will come under a cloud because of sanctions. oil at 100 is not good news for india. if oilcan quickly change hits $100 a barrel. yvonne: different scenario than. thank you. joining us from the by, india. -- mumbai, india. rishaad: sounding alarms, it's cyber risks. blackrockhe chiefs of saying? we are looking at that next. ♪ a quick check of the latest headlines. revenue was overstated by as much as 90% last year. 20 sales in asia were worth about $117 million. short of the money declared in financialecent report. the co-finders have resigned and the inquiry has been passed on. mcdonald's is getting rid of president is -- preservatives and artificial colors. chainis a complex supply with the company having something like 37,000 global supply chain. the catch-up contains high fructose corn syrup. propo

now one catalyst would be the rupee at this point in time.t's coming close to the seventh and we figure it's more likely we will see stabilization at this level instead of further depreciation over the selling. we don't believe the chinese government is incentivized to see much more declines from your. three reasons. markets have traditionally been harboring of capital light. the memories of what happened in an5 and 2016 are very fresh, opening this can of worms is likely the last thing they want to do at this point in time. second, trade talks between the u.s. and china are still ongoing. the line in the sand is a politically sensitive flesh point. the chinese would not want to believe as a currency. manipulator finally, there's a lot of dry powder in the arsenal that would be supportive. over the last few months, there's been a period of benign neglect on the part of the chinese government, more willing to let the market drives it toward lower levels. we are seeing increasing signs the chinese government is uncomfortable with excess of decl

yet today the indian rupee is leading asian currencies.ks as though they still need to raise rates which is something they are hoping to avoid. it has dragged the indonesian repeal with it and the turkish lira is having a pretty bad start. it has become a contagion effect since going from asia to europe. you're just going to have to get past it for the time being. like they arelook having chinese stocks or the emerging markets slumps -- it looks like it as continuing for now or that either one of those things are worrying treasure investors. you don't see them running for the 10 year. 3% on fridaye hit and we are not far off it right now. where do you see investors looking to sell because they expect more rate increases? >> we are getting a pretty consistent message from fed speakers in the last couple weeks, they are very happy with the state of the u.s. economy, even bringing a relatively dovish area to ensure rates can go up twice this year and probably again next year. everything we are hearing from the fed says there's still a long wa

we are seeing them try to them bolster the rupee.o cut imports of goods including a comics and capital goods. includinga wide -- capital goods. -- i thought was this was a healthy emerging market. shery: the india stock market was the best-performing of the year. now, you can see the correlation between oil and india stocks being the most negative in more than a year. ,ou can see when brent rises crude prices rise, people are thinking sell indian stocks. caroline: the indian rupee is the worst currency. how much could cutting imports help? trying to look at the dollar spending going into this and trying everything possible. they have already tried to defend their currency. they are sitting on $400 billion of reserves, but that has not helped. we are seeing a double when he because when it comes to the indian equity market, we see a liquidity crunch taking place. bring that up. the shadow bank in india, it is this big industrial shadow bank and missed a payment on a commercial payment? talking about infrastructure and financial servic

the rupee again has moved out. my investors find it too little, too late.hat investors want more is there needs to be more action from the r.b.i. more action from authorities to really -- what people are calling structural problem. yvonne: what are those so-called silver bullets then? if you're asking for more action from the r.b.i. or government, how much more drastic do these measures have to be? >> it is clearly what's happening is that the current deficit needs to be addressed and it is going to be the interest rate corridor where the wrib is going to -- r.b.i. is going to meet next week. they will race the rate by 25 basis points. that is one part of the problem. the other part of the problem is the oil importers problem. there is a lot of demand to take this demand the market so what the r.b.i. needs to do do is probably open a window for these companies. it has done it in the past in 2013. that has taken a lot of pressure away from the market. the ther part is that in government -- that will be onresidence indians a broad. -- abroad. authorities at w

got you know the sixth largest economy fastest economy growing in the world what's your take on the rupee. well let's talk about the economy itself for a minute i mean do you know if you're a country you must replicate births with debts they you have to keep your current your population pretty stable india in terms of the emerging markets is the only country that i've seen that is replicating itself they are having as many births deaths in terms of the rupee you know again it's just one of the worst performers from other nations representing sixty one different countries and there is unfortunately more unsettling news today that almost ten thousand individuals who work near the site in new york's financial district were exposed to toxic fumes and now have various forms of cancer according to the world trade health program as of the end of june more than ninety three hundred people are said to have cancer and an added four hundred twenty have already perished from cancer in total more than forty three thousand people have some nine eleven related health problems time not for a quick break

rupee, weakening against the dollar. we continue to watch where it trades. back on the risk radar, the south african rand, on the rise e. re this currency weakening. we are keeping then i on the contagion story. respite for emerging markets? ,ome of these markets stabilizing a bit. are we going to see the stability. let's look at what is going up today. a lot of news out of the u.s. auto sector. speak exclusively to the volkswagen's cfo. trends.ing something we have seen for some time. let's get the first word news update. >> thank you. central bank has published a survey showing the economic outlook to charlie or dean. recession,sted weaker currency, higher inflation. officials had made progress with leaders seeking to reform the credit line. donald trump and his allies have attacked a book by bob woodward. it is titled fear. it portrays the president is internet liar. trump tweeted, it has been discredited and contains fraudulent quotes, describing it as a con. looking union officials to unlock a wider brexit deal. they accept an earlier version of the pla

right now the rupee has lost ten percent against the dollar since march this year but argentina's been the worst hit so far sturdy measures of unleashed wave upon wave of anti-government demonstrations that unions take to the streets of pointers ariz on an almost daily basis and seen as paizo has lost eighty six percent in value against the dollar over the last six months. germany's exports has all thriving despite punitive tariffs and other trade barriers new official figures show that in july germany sent one hundred on the eleven billion euros worth of products abroad that was a rise of seven point six percent on the previous year demond was especially strong in european union countries but impulse also very strongly up twelve percent on last year's tally. and all financial correspondent otis's box is with us now at the front but stock exchange and what he said german exports were in dymov but also we saw that increase in imports to the country so that's got to be good news for the countries trade balance. that's right and it's good news for germans if you will because behind this i

they are at the bottom of the heap in asia along with the indian rupee.ice trade quarter of unchanged rates in taiwan. reactionin the way of for the kiwi dollar as we did have the governor discuss prospects for inflation as well as downside risks to the economy in new zealand. haidi: thank you for that. lots more for investors to digest in what has already been a busy morning. let's get more on what asia will be watching. was sort of something for everyone in that fed statement. they plan to keep plowing ahead, but inflation is seen as mild. reporter: that's right, but i think the underlying commentary from the fed is that what is driving the u.s. economy and fundamental factors that continue to make them normalize policy, that is still intact. we had a little bit of a move towards more people thinking we get a hike in december. you can have a look at that. it is in the library on the terminal. we updated that dot plot chart. now the markets have moved into that already.we already had a big selloff the last couple weeks. it's interesting the bonds rallied

now sri lanka's former president is accusing the government of mismanaging the economy the rupee has plummeted against the dollar in recent months and inflation is at an all time high finance reports from colombo there were jayawardene opened a big green colombo six months ago bringing his savings and experience from working abroad he had big plans but his wife says an unstable economy increasing costs and a sliding rupee have made things very difficult we can't increase our prices each time gas prices increase stuff lives increase because our customers know what price we offer certain items that so each time we come increasing thought as a result we absorb the cost. the price increases have been many. fuel sugar even bus fares commuters forced to fork out higher fares for the second time in four months. it may be a small increase in the fear but when you take the total cost it's a big amount for the man. to make matters worse for the struggling economy the sri lankan rupee has lost almost nine percent of its value against the dollar so far this year and worse is expected. the devalu

the indian rupee weakens across nine at the last 18 days., mob rule, a charade and mockery. street, storage in a time of scale. good morning, everyone. i'm "bloomberg surveillance." moving her son off to school. i'm off tomorrow to move offspring off to school. nobody in emerging markets is doing that. they are focused on another day of weaker data. guy: absolutely. the dollar is up again. that is the theme that is rolling around the markets at the moment. the dollar continues to be the dominant force it has been. it is trading up again. it is farmer again this morning. bad news for emerging markets. you have a week euro. the dollar is where it is at. tom: i agree. the distinction is mexico was weaker as well. it rolls over into the equity markets as well. we will do a complete data check here and we are thrilled to bring you alberto in a number of minutes. first word news, here is taylor riggs. taylor: south africa's government is coming out with a stimulus and reform package to revive an economy that has gone into recession. details will c

the sri lankan rupee against the u.s. dollar and they're concerned about certain things in rural communities for example like. the excuse me the fertilizer prices and the subsidy being removed by. by this government so there are many issues that they are seizing upon and really it's a case of him to rajapaksa seeing blood if you like seeing that he really sees an opportunity here to protect what is viewed as a weak government ok many thanks for joining us there from the protests as it continues in colombo. breaking news coming into us high court judges in israel have approved the of diction of palestinian villages in the occupied west bank in july israel's supreme court issued a temporary injunction blocking demolition following criticism from the european union bedouin community lies between israel's illegal settlements of admin and admin and a few kilometers outside of occupied east jerusalem since one thousand nine hundred sixty seven israeli bulldozers have demolished more than fifty thousand palestinian homes and for

done you know the sixth largest economy fastest economy growing in the world what's your take on the rupee. well let's talk about the economy itself for a minute i mean do you know if your country you must replicate births with debts they you have to keep your courier your population pretty stable india in terms of the emerging markets is the only country that i've seen that is replicating itself they are having as many births deaths in terms of the rupee you know again it's just one of the worst performing asian currencies and it continues to just slide so we'll see what happens here it is the fastest growing economy i don't think that's going to stop their population is very strong that helps drive a lot of purchases and of course whether that internal purchases or imports that's that's something that the country has to depend on so we'll keep them on our watch list john grace the founder of president of investors advantage corporation thanks so much john. but so much parts in x. time. and we know what a pair of shoes are to charlotte dubinsky takes a look at the parisian stock market in

the argentine peso, turkish, and indian rupee are among those sinking to record lows and's recent days- in recent days. the british government has abandoned key brexit demands striking a deal with the european union. limit has learned that they are economy andept trade talks with the eu to get a divorce tilde. for a morede settled big statement postponing some decisions until after brexit day. in japan, a powerful earthquake rocks the country's northernmost island. the 6.7 tremor triggered landslides that crushed home and knocked out power and forced a nuclear power plant to switch to a backup generator. at least two people have been confirmed dead. global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus: thank you very much. the rising emerging markets show you sense -- look for the silver lightning -- lining. this has investors and strategists from like rock to jpmorgan using one single word, contagion. joining me now, jane foley, senior currency analyst for rabobank. let's t

also this week india's rupee it's not the worst performing currency in asia we'll take a look at why.

trading giants on the planet escalate their trade war the worst performing currency in asia india's rupee plus ice cream sales are melting away. counting the cost on al-jazeera. i. come back you're watching out zero time to recap our headlines now in a major to the u.s. the e.u. says it will set up a new mechanism to enable trade with iran it's designed to get around washington sanctions on those the trumpet ministrations withdrawal from the iran nuclear deal earlier this year. the un humanitarian affairs chief has warned a famine in yemen could strike at any time and lead to even more loss of life food prices have soared and fighting over the keep order for a day that has stopped a day agencies from reaching about a million people the u.s. is warning russia is making a major mistake by deploying its missile defense system in syria the kremlin is sending the s. three hundred system a week after one of its planes was mistakenly shot down by syrian anti-aircraft fire. a year ago the u.s. president called the north korean leader little rocket man in his debut speech at the u.n. general assem

to make matters worse for the struggling economy the sri lankan rupee has lost almost nine percent of its value against the dollar so far this year and worse is expected. the devaluation has a former president demanding to take over. with them because from. where we are monitoring it just waiting i mean if you want to really discuss. you want to. know the first thing is do i would look. up waiting for the. government ministers or dismissing rajapakse as complaints and say he's former administration because the problems this from this. eighty three percent of the. theater and of course we would have had to we have had to pay. lorne's in order to. previous with it. but. while doing that while doing all these. we have also managed to bring me who. while the government and opposition trade accusations about force to blame for the economic problems many sri lankans us struggling to make ends meet among them the war the neighbors who are determined to stay afloat and make a go of their business despite the odds with al-jazeera colomba. pope francis has paid tribute to lithuanians who suffer

also this week india's rupee it's not the worst performing currency it asia will take a look at why.plus why the upcoming election is causing ice cream sales to melt away in kabul. when the world's two biggest economic powers engage in a trade war the rest of the world is left watching of wondering where it will all end if this week is anything to go by it could mean an escalation of the ongoing protracted.

china trade war and the foreign value of the indian rupee do stay with us if you can. hello i'm adrian said again this is counting the cost on al-jazeera a weekly look at the world of business and economics this week. of products the biggest trading giants on the planet just escalated the trade war. also this week india's rupee it's not the worst performing currency in asia we'll take a look at why. plus why an upcoming election is causing ice cream sales to melt away in kabul. when the world's two biggest economic powers engage in a trade war the rest of the world is left watching of wondering where it will end if this week is anything to go by it could mean an escalation the ongoing protracted tit for tat trade dispute between china and the united states did intensify this week so much so that it prompted a warning from the o.e.c.d. the paris based think tank says that the world's economy can't keep growing if things don't improve on the trade front china has now slapped tariffs on around sixty billion dollars worth of u.s. goods that move a retaliation for the lates

nejra: that deficit widening to the most in five years, affecting the rupee. get bloomberg first word news with juliette saly in singapore. juliette: thank you. in the u.k., boris johnson has launched what many see as a new bid for power,: the prime minister's exit strategy a humiliation. in the mail sunday morning, he savaged theresa may's policy as keeping britain tied to eu trade rules after brexit. in an interview with bloomberg, the eu's budget chief gave an assessment of divorce talks with britain. ongoing.gotiations are the new chief negotiator of the ..k. is really active so our expectation is we have a good chance to come to a smart brexit. juliette: china's chances of escaping the trade complex with the u.s. with only minor damage are looking less likely, this after president donald trump doubled down on his threats to impose higher tariffs on the nation's goods, saying his ready to tax them all on short notice. while some see it as limited, former people's bank of china's governor warns the effect on economic confidence may be larger. in washington,

also this week india's rupee it's not the worst performing currency in asia we'll take a look at why. plus why the upcoming election is causing ice cream sales to melt away in kabul. when the world's two biggest economic powers engage in a trade war the rest of the world is left watching and wondering where it will end if this week is anything to go by it could mean an escalation in the ongoing protracted tit for tat trade dispute between china and the united states did intensify this week so much so that it prompted a warning from the o.e.c.d. the paris based think tank says that the world's economy can't keep growing if things don't improve on the trade front china has now slapped tariffs all around sixty billion dollars worth of u.s. goods that move a. the latest round of u.s. tariffs on two hundred billion dollars worth of chinese products al-jazeera score hides the reports now from beijing. within hours of the u.s. announcing a second round of tariffs on chinese goods beijing responded. the chinese commerce ministry saying it had no choice but to retaliate and it hopes the u.s. c

trade environment sending currencies into freefall investors are pulling out of the peso the lira the rupee and the rand and flee into the dollar us in argentina the construction sector is set to cut some forty thousand jobs in the coming months as high interest rates financing on the government scales back infrastructure projects but those measures won't come quickly enough for those in construction. it's large public infrastructure projects like this railway line in winter cyrus that will take the biggest hit argentina's central bank is holding interest rates at a punishing sixty percent to try to curb high inflation and halt the pesos slide that's making it difficult for local contractors to secure financing for projects or to buy imported materials and that means that after several years of growth in the sector jobs will have to go. after month a sector was taking on people creating jobs through twenty seventeen and into the first months of this year then in the crisis in may things changed that's when employment started to change it was negative and now every month jobs are being lost

but the rupee is also at all-time lows.he fiscal slippage ahead of elections applied both to indonesia and india. so there are many parallels. what is not working for you right now but could turn out to be a good thing is we don't see policymakers leading against appreciation of the currency as much. some have welcomed it. that could be a risky proposition right now. but in the longer term, it may play out in favor of the rupee regaining traction. we have to leave it there. thank you again for coming on the program. coming up, the two koreas are set to hold another summit. in less than two weeks, they will look at -- we will look at what is at stake in that meeting in pyongyang. exclusiveplus, an interview with jessica cokahn. we are live at the bloomberg sooner than you think event in the line city -- lion city. asked at tech ceo if google not showing up with a good idea. she said i don't know. should they have been there? >> in my book, this is about getting to the bottom of dealing with this problem and developing a solu

small operators weren't able to do the online paperwork and couldn't afford accountants billions of rupees of tax credits are still owed to small businesses mainly because of software glitches that affected jobs. i did then said yes did our troubles began from the day the g.s.t. was launched some days we get work and other days we don't get any when the g.s.t. was launched for the first few months we had no work at all and we had to sell our land to feed ourselves. our. those at the beginning of town tell a different story the goods and services tax replaced several federal and local taxes and removed tariff barriers between india's states greasing the wheels for large nationwide businesses. overall i think overall the manufacturing industry is fine and after the introduction of g.s.t. the industry has received a boost and we hope that the government will reduce the higher tax groups to more reasonable tax rates then industry will grow further. but for the two hundred thirty thousand small businesses that shut down due to compliance and cash flow problems a future tax rate reduction may be

they have spent billions of dollars to bolster the rupee, with little success. jpmorgan's ceo picked a fight with president trump and immediately regretted it. speaking at a bank philanthropy of vented jamie dimon said he could beat the president in an election, adding he is equally tough, but smarter. the bank issued a statement saying he should not have said that and he would not make a good politician. the white house did not offer comment. news 24 hours a day, on-air and online on tictoc on twitter, powered by journalists in over 120 countries. i am jenna dagenhart. this is bloomberg. shery: the u.s. government prepared another round of talks with beijing to avoid escalating the trade war. joining us is greg sullivan. what is prompting the u.s. to take this measure? greg: tensions are very high between the two countries on the trade front, with the trump administration poised to add $2 billion of imports potentially. they have not pulled the trigger yet, but tensions are there. they have extended an invitation to their chinese counterparts. today white house

india is also not fairing too well right now the rupee has lost ten percent against the dollar since march this year but argentina's been the worst hit so far austerity measures have unleashed wave upon wave of anti-government demonstrations the unions take to the streets of when a star is on an almost daily basis argentina's paizo has lost eighty six percent in value against the dollar over the last six months. and we're joined now by a holocaust meeting chief economist at bear in bag bank good to have you with us today took us through the turmoil that we're seeing in emerging markets firstly what is driving this crisis. there are two things that are driving this crisis the first is that many emerging markets simply had times that were too good to be true too good to last in recent years so there is some belt tightening there is necessary and secondly what we also see that those emerging markets that have significant debt in u.s. dollars and significant current account deficits those are struggling at a time when the u.s. federal reserve bank is raising interest rates it's interesti

a way to buy under strict access to the details of any other number of for less than five hundred rupees from a group operating on whatsapp so there are real concerns about data privacy and security and neither of which we have to remember you know they currently is no privacy law for it in and today i think the supreme court did point out that the indian government really does need to bring out a robust what it calls a robust data protection law so i think that is an cottaging use for activists. in delhi thank you very much for that update. now let's take a look at some other stories making news around the world japan's prime minister shinzo r.b.a. has told the u.n. general assembly he's willing to meet north korean leader kim jong un they said any such meeting would be devoted to resolving a decades old rao or abductions of japanese civilians by pyongyang. the wife of malaysia's former prime minister has appeared before an anti corruption agency roselawn monsoor was questioned over the alleged misuse of a multi-billion dollar state investment fund police found luxury goods and cash dur