peter: competition has always been intense here in southeast asia.sed on making sure oour product and services continue to be one our consumer will continue to use. we have seen engagement. we have seen continuing interaction with our app. our drivers and as well as our merchants. we are going to continue to be -- to create this ecosystem, despite what we see around us with new competitors or existing competitors that we have. we also have one of the strongest balance sheets in southeast asia. ed: is there room for all of these players? do you see consolidation happening in southeast asia? what about m&a? peter: organic growth is key for us. we will continue to be focused on growing the ecosystem. we've got all of the initiatives we talked about. we are going to continue to develop new products and services. we've got to continue to broaden our plan. it is broadening as we have these new services that we're creating, things like digital banks, things we never had before, advertising we've never had before. we will continue to focus and execute on org

southeast asia is going to be really important. there has been meetings. the economic package that was rolled out was not very significant. also, the administration's rhetoric, i don't think it is well tuned to the context which is focused on sovereignty. i think we talked in the past but nationalism may be a dirty word in the certain precinct in western europe. but in these places in asia were it represents freedom from colonial rule. i mean, independence and national self-determination. that is a big word. i think there is a lot of rhetoric in the in the pacific and the rhetoric of the trump administration, they were better tuned to that context, where you have to move people and persuade them but it is not about imposing a certain one particular vision of what life should be. but it is allowing people to have the independence and freedom to determine their own future. that resonates. that is something china particular does represent a threat to. almost like a human elemental level, the sort of increasing illiterates and assertiveness -- belligerence and

, southeast asia, usa.east asia, usa. so you had been in business. as— southeast asia, usa. so you had been in business, as you _ southeast asia, usa. so you had been in business, as you mention, - southeast asia, usa. so you had been in business, as you mention, for- southeast asia, usa. so you had been in business, as you mention, for 30 i in business, as you mention, for 30 years — have you ever had it as tough as you are having it now? lilo. tough as you are having it now? no, we have been _ tough as you are having it now? iifr, we have been through many issues over those years, recessions, we have been through many issues overthose years, recessions, major fires, and of course pandemics, but i think this is probably the most difficult period that we have been through since the early days of the business. �* ., , through since the early days of the business. �* . , ., ~ business. and what is making it, in our business. and what is making it, in your assessment, _ business. and what is making it, in your

southeast asia least geopolitical risk? you look at asia, the areas that have the least geopolitical risk would be southeast asia and india. those are countries that depend on china for trade but also depend on the u.s. want to have a good relationship the u.s., for security reasons. these are markets that are small enough that are not going to threaten anyone also -- anyone. also, indonesia is in the middle of a big covid reopening. we expect reopening to have a positive impact. >> what about covid reopening in china? how much our markets really pricing this in? >> why would say there's very little pricing for a covid reopening. if you look at the prices of travel, tourism, these companies are still pricing in a continuation of zero covid policy. signs to look for would be the rollout of the domestic mrna vaccine poster to november. -- closer to november. and then maybe in march after the national people's congress, the government might take tentative steps to remove restrictions related to covid. that is something we are

let's find out more on what is going on around southeast asia as well with an online travel start up.t counts on a post-rebound expansion in the region. haslinda amin is in singapore. haslinda: i am here at the milken institute asia summit. and we are joined by caesar indra. you talked about the events coming to the lion city. 25. that's a testament to how travel is being revived. talk to us about the kind of travel demand are seeing in southeast asia. caesar: thank you for having me. the demand has been tremendous. domestic has been a key driver of recovery. we are seeing strong domestic is this from indonesia, vietnam, thailand. international travel is acting up slowly as borders start to reopen. if you are in singapore and there are so many events right now, there are more than 90,000 delegates descending into singapore. more than 25 events going on almost at the same time. this is a very exciting time for travel rebound and we are very optimistic. haslinda: as much as you are optimistic, demand is not at levels we saw pre-pandemic. how soon can that happen? caesar: it is not back

>> a lot of excitement here and southeast asia. years we have been in such a severe locked in various parts of our country. tourism here is starting to flourish. people are starting to travel again and people are starting to head to the airport and starting to get back to the offices in the commute is starting to pick up. people are dining out and enjoying things where they could have before. there's a lot of buzz and excitement in southeast asia, but we are also very cautious. macro economic circumstances. we are taking steps to make sure we got at how we are being cautious. the overall i would say the bludgeon -- buzz in southeast asia is of excitement and they are continuing to really take advantage of where the economy is reopening. haidi: he was speaking to bloomberg's ed ludlow. as get back to the fed speaker that directed a lot of what we saw when it came to the session overnight. take a look at what we hear from mary daly, the san francisco fed president speaking at a banking symposium in singapore. mary daly saying the str

this next footage is disturbing. human traffickers and parts of southeast asia have been trolling social media promising high salary jobs and easy loans. early to hand over the international applicants to telecom and online fraud rings, operating and fenced off compounds supposedly torturing the detainees into working for them as cyber scammers. to prey on other people, a highly lucrative operation and the workers risk death if they try escaping a closely guarded desks. a global anti scamming and g o says abuses sent these videos the captives as a warning boggle's law. according to local media, the victims of these gangs include tie when a's hong kong is chinese citizens, ties and vietnamese nationals. most of them end up in c, a knoxville and lawless port city in cambodia or mia, woody and me and mar. some are reportedly forced to work in laos and thailand they passports confiscated online boiler room rackets have long had a presence in the region. but as more details emerge, local law enforcement agencies. awaking up to this cross border phenomena, it'll take international cooperation

run a business making candid films, reporting by karina kharitonova one extraordinary day in southeast asiae sunny shots of a philippine city called tangup, employees of the local immigration department decided to detain a british citizen and now somehow reluctantly enter. although the british media write that they break into the bungalow he rented. this bungalow is more like a barn by the standards of the still prosperous united kingdom exactly inside the british grandfather, who had to tear himself away from a modest meal and start. what is called the morning toilet, about a dozen law enforcement officers patiently watch how he gets dressed, throws on half shoes and it seems that he does not immediately hit them with his feet, then pulls on his headdress. and apparently he cannot figure out what to take with him to the exit of the confused pensioner. pretty believable feigns dementia, although this is not the first time detention proceedings have taken place in the uk john crotty is on the sex offender registry. last year. he was released from prison, where he spent 9 years for child abus

of romance, or a high paid tech job, only to land in one of these high security compounds in southeast asia beaten, or hel to ransom victim say they forced to work for a network of swindlers. running on line scans and growing mines in cambodia, our schools a, tackling the food crisis by teaching kids how to grow their own vegetables. ah, i been puzzling, glad you could join us. young, well educated, but out of work and prepared to move abroad for what sounds like a great opportunity. but that's way the scan begins. this next footage is disturbing. schuman traffic is in parts of southeast asia, have been trolling social media, promising high salary jobs and easy loans. early to hand over the international applicants to telecom and online fraud rings, operating and fenced off, compounds supposedly torturing the detainees into working for them as cyber scammers, to prey on other people, a highly lucrative operation. and the workers risk death if they try escaping a closely guarded desks, a global anti scabbing g o says abuses sent these videos, the captives as a warning barbara, according to l

here from the same southeast asia southeast asia this is a strange osian. here is vasian us.ortant partner, but on the other hand they say that well, as a matter of fact, here is the intensity of your connection. what is with us, including, by the way, not only economic political. well, it’s right here, in principle, ours is this one, well, really speaking, may 5, yes lately. yes? no, we just now she stopped now. yes she found, at least when we are now playing for balance. china has china what is the economic forum boau. they also hold an economic forum, so to speak, unite the region. we have our own, if we have, but one belt one way chinese project for the consolidation of the eurasian space, the great eurasian partnership, which putin put forward in the sixteenth year. yes, it needs to be filled with content, but by itself this idea exists, so in order to resist the west, and here there are two ways one way defensive it must be created. it is different to attack one's own space - this is to impose sanctions. and they must be done both. i don't like it. the fact is that it i

what you will see in the future is the big story of southeast asia.ishaad: i was about to ask which one you stay away from, but i'm running out of time. >> i don't think there's any i stay away from because i like southeast asia. rishaad: thank you. let's move now to first word news headlines. japan's former has been awarded bail. he's alleged to have threatened a judge. his lawyer says the charges are baseless and will be contested. russia said to be considering a plan to buy as much as $70 billion worth of chinese land as well as other so-called friendly currencies. the arrest of neil phillips for alleged foreign-exchange market manipulation has threatened to ripple across the industry. other companies have suspended staff who previously worked with him. on wall street and london, phillips is associated with some of the biggest names in the hedge fund world. yvonne: coming up, macau gradually reopening to foreign travelers. find out who can fly into the gambling hub. this is bloomberg. ♪ rishaad: let's look at the hang seng, week again, but it could

. >>> they are betting that southeast asia is ready to embrace green transportation. they announced the building of a factory in thailand to turn out the eds. they are ready to produce it by 2024. the project will cost by a half billion dollars and bring in the capacity of 150,000 vehicles. they plan to sell them in thailand first and then export them to southeast asia and europe. they want the product in the country to reach about 700,000 vehicles a year by 2030. that it will be 30% of its total auto manufacturing. japanese manufacturers have about 90% of that. but it is mainly gasoline vehicles. that comes from country. byu is the biggest manufacturer and it has been expanding its footprint abroad. byu sells them in 70 countries and regions and has more than 30 factories worldwide. >>> the u.s. federal reserve said that the economic outlook remains weak as consumer and businesses deal with the highest inflation in four decades. the fed released the latest book on wednesday with the data collected from the 12 districts. they said that the economic activity was unchan

we were talking about southeast asia is down at least for investors.e you seeing on the ground? caecilia: this is an exciting time right now. ever since reopening, we have done well in q1 this year, and we are seeing there is a strong effect when it comes to general activities and general consumer confidence. people are happy and they are coming out of their homes again. i would say from a business standpoint, the impact is significant. the volume on the platform has gone up three times from the end of the year. it is that strong tailwind going into the next few quarters because a few things overall have not gone back up to pre-covered levels just yet. we see that not only as -- pre-covid levels just yet. to us, that is a clear indication of more intense problems. david: -- more trends to travel. david: do you see this moving into all of where people will go to where they are? caecilia: that is a great question. the operating of a payment paste -- based platform, we have seen pockets of people feeling more comfortable to book their trips. they are trav

southeast asia's growth outlook, let's bring in our next guest.ning us that the asaean region is no longer immune to outside pressures. it's good to have you with us. tell us a little bit about where you see the biggest vulnerabilities in southeast asia. >> good morning. we continue to remain cautious on markets, including growth momentum, margin pressure and the stronger u.s. dollar. it may continue, with foreign investor positioning with stocks, commodities, and energy. shery: how closely are you watching volatility in the global market? we do have the f1 see decision soon and i want to ask the question of the week, what is the best trade ahead of the decision and chair powell's fed announcement? >> we continue to look for the 75 basis point rate hike, and the forecast of 75%. despite the fed hiking rates close to 25 basis point so far. basically investors are managing the shift to tighter monetary policy even as the global financial condition is shifting. singapore and indonesia are there regions with the largest exposure and can benefit in the

david: we are looking at the markets across southeast asia.the back of this broad rise in equity markets. speaking of indonesia early on, we are joined with one of the pioneers of digital banking in hong kong. he basically made an announcement yesterday, which are not to be half billion dollars -- turned out to be half billion dollars, the biggest dealing in southeast asia. one of the banks in indonesia, they're planning to roll that out next year. the whole moving through digital banks in southeast asia, the of singapore, dbs, i asked him, your traditional banks doing their thing. they are 30 -- doing their own thing, to what extent is traditional banks encroaching on their space and how they are adjusting? >> i think traditional banks around asian are not giving up, they are fighting. david: are you worried? >> we are not. number one traditional banks have done a great job. they are lowering entry barriers, increasing interest rates. some of them open up a new customer sentiment product to compete with, digital banks, with your sentiment. at

barrier to the further advance of the japanese to the south, the japanese did not want to stop in southeast asia, they went to australia new zealand to papa new guinea, but the british surrendered singapore had a huge number of prisoners of war, and the japanese reduced the british with the americans not with australian prisoners of war on ceremony. they lived in the most difficult conditions. then, of course, by the british to the americans, first of all to the americans. i had to step by step, five by five, win back the space that they very easily gave to the japanese at the end, 41. forty second year, yet great britain even today maintains influence over its former colonies with the help of the commonwealth of nations. this is not just an interstate association, headed by the british monarch, but also a form of maintaining the influence of great britain over its former colonies as a result of the historical development of international relations in the middle of the 20th century. we see the gradual process of disintegration of the once great colonies. this applies not only to the british empi

well, while we are talking about southeast asia no, this is a zone for sending goods, it can be anyonend anyone, and any person can place goods on a bond in a warehouse and then through marketplaces and sell it most recently by mail. uh, launched another important service of the current situation. yes, you help people. just for to buy goods abroad, to help receive them, to help pay for them. here's what you can already say about the first weeks. e existence of this service. at least i received a notification from the russian post office, literally there a couple of weeks ago , you are, uh, among those, uh. probably 3,500 of our customers who have already generated more than 300 product orders . a. we secured extradition. we offer a service, and according to the order and according to the calculations, the goods are consolidated in our foreign warehouse and we after that we deliver it to russia at a specific address. we now have over 30,000 registered customers. there is another service on this service that i want to talk about. this is delivery without prescription drugs. again, what k

the small plastic packages are ubiquitous in southeast asia. caller larry assigned more kitchen waste in housing estates, put in the villages. more sashes are thrown away. we go. the single use packages are part and parcel of you man can of his own lifestyle. he lives in a small house in tongue around cilla chung. together with his older sister and his nice laundry. so shampoo, tooth paste, all supplied in single portion, plastic backs, even the spices for their food coming. sanchez dead as, as if there's no sashay products. i don't know what to do. the sash is very cheap plan. i hear the amount is just enough for one meal. i said that if i could buy a big pack, i would buy laundry. so both, so dish soap, sugar and coffee. but unfortunately i only have a little money. and if i buy a big package, oh, i'm afraid i can't buy other necessities. the important thing for me, the price of the sessions cheap, and i can cook every day for lack of pay and pay the rent as household help. she make some 50 euros a month. her brother earns between $60.12 euros, though their income does very even tog

ishika: mercy parts of southeast asia are holding up well. indonesia has little changed.na has little changed. see that start to kick off from the other markets in the region. it was close and missed it nearly estimate will see it divided southeast asia market like korea, taiwan. china is on its own. there are other drivers that market. >> david just brought of what we are into the valuation, at what point are they having a loud scream? ishika: you want to make sure do not fall into the valuation trap indexes are down about 20% from february there are not any reasons right now rebound, sustainably. investors are asking really where they getting into the space bring out given global equities. that china's zero coping strategy >> -- zero covid strategy. >> i guess the question, is this enough. get over your. -- let's get over to new york. >> prosecutors have arrested three executives as they allege bribery in the olympic process. it has emerged that there may have been a payment in bribes from 2019 and 2000 2021 they will cooperate with authorities. california is morning ab

he underscored america's strong backing of the southeast asia treaty organization. economic development and social well-being so that all may pursue lives in peace and happiness. ♪ >> then a last good-bye from the prime minister before his departure for pakistan. ♪ muck. >> later that very morning, as air force transport reached karachi. two of pakistan's top members welcomed the nixons to another nation. ♪♪ >> the 8th regiment provided the honor guard. the salute to vice president nixon in the absence of the prime minister who was away in london for the commonwealth conference. with the united states charge d'affaires if, the vice president and mrs. nixon met more than 50 members of the foreign diplomatic corps. ♪♪ >> catchy was another -- karachi was another place to greatly impress vice president nixon. the cameraman accompanying the vice president took these views of the city's booming. they are dramatic reminder of pakistan's energy and determination. ♪ ♪ >> at the presidential palace, mounted rangers in white tunics provided a colorful escort for the party fro

>> there is a lot of excitement in southeast asia.st two years we have been in such a severe lockdown, tourism is starting to flourish. people are starting to travel again. people are starting to go to the airport and the commute is starting to pick up. people are dining out and enjoying things where they could not be or. we are very cautious. we know in the developed marcus there is uncertainty. we are being cautious. overall, excitement and taking advantage. shery: we continue to watch the boom or bust cycles. for the first time in a decade, home prices have gone down. the fed study says working from home with more than half of prices were because of remote work. we're not seeing people returning, the reasons why people are staying at home. reporter: it's an interesting breakdown. only 9% of new york city workers , 36% say they are equally productive 24% say they do not feel safe on transit. daybreak asia is next. this is bloomberg. ♪ - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just

w names coming up next. indeed of you news asia you in traffic and force labor in southeast asia. we look at the online scams giving thousands and what the un caused a living health, health, and marketing. i'm next on the doesn't is asia g satanist ah ah ah ah. i mean with you a part of a for real what sounds like a joke of birth i can medium started up, wants to make reality soon. find out how they came up with this idea, how it works and how it will help the environment in made in germany in 60 minutes on d. w. good. hello guys. this is the 77 percent the platform with, you know, a because population is growing and young people clearly have the solution. the future belongs to a 77 percent every weekend on d w. a carefully, don't know how with ms to the girl. ah, feel the magic discover the world around you. subscribe to d w documentary on youtube. with this is the w news age up coming up to date, the promise of romance or a high paid tech job only to land in one of these high security compounds in southeast asia beaten or held to ransom victim say they forced to work for a networ

of romance, or a high paid tech job early to land in one of these high security compounds in southeast asia, b o, held to ransom victim say they forced to work for a network of swindlers. running online scans and growing mines in cambodia.

the continent with different subjects, there are russia and belarus, there is china, there is southeast asia, india, and the arab world. here is a motley palette, but here is the movement towards what is happening within the framework of the sco. this is, in general, a movement towards unification, all the same to removing the contradiction, this world of worlds was somehow formed. how does the west behave? now they are building an iron one, they are closing and imposing sanctions. and not only there against russia, but also china falls, of course, in the interests of, say, continental europe, germany would be united with eurasia, and there are these circles. there are the so-called eastern orientations, but they are so subjective and subject to the harsh dictates of washington that all these encroachments of germany end in the end, well, that's a failure. today and tomorrow , the president will hold a series of meetings with international leaders, including in informal events remind. our country has applied to join the shanghai cooperation organization as a full member. now minsk sco, obser

southeast asia will not be spared.: we have a unique opportunity is microsoft in this world today where we are building digital perseverance to ensure companies become resilient. and we are seeing tech grow as a percentage of gdp from 5% at the start of the decade, to 10%. we see continued digital enablement. haslinda: is there a sector putting in more investment into technology and advancing the capabilities? ahmed: two quick examples. i was in japan recently and kawasaki, a core manufacturing company, is using microsoft's hollow lands and easy digital -- to create productivity. smbc, a bank in japan, is working in southeast asia create green financing. it is an opportunity to enable, to create a resilient economy in the future. haslinda: how are you seeing it in terms of what is happening in china? the slow down, is it impacting the kind of investment that companies are putting into technology? ahmed: we have been in china for 25 years and we have about 20,000 employees. it continues to be an important market for us.

this is this year's largest digital bank deal in southeast asia.ong kong, where david ingles is standing by with a key player in the deal. david: absolutely. we are joined here onset in hong kong, simon loong, founder and ceo at welab. haidi was just saying it is the biggest deal in southeast asia. how big is the deal? simon: both parties invested more than half $1 million u.s. into this. this shows our commitment and optimism. david: expensive. simon: it is not just that. it is acquisition and we want to build scale. there will be investment in technology, customer acquisition, and training of everyone. david: you virtually own all this, right? when do you launch? simon: we are hoping to launch first half next year. david: do you have a name yet? simon: not yet. we will come up with something innovative. david: initial plans on the initial product on up --line-up? what should competitors be looking out for? simon: a couple advantages. we have already built the welab bank in hong kong so there are products we can readily port. we just launched an i

people are not coming when there are other choices like japan and southeast asia.nd, the opening, the rebound was very gradual. the recovered really well. rishaad: it is not an on and off switch. it is not binary in that sense. it will take time. what will be important is to get rid of the rest of these restrictions. you will not turn up here and say i cannot go for restaurants to three days. other people are asking questions about that. >> as i mentioned, all of the choices, so they can go to other places. because hong kong inbound has always been 2 to 3 days at his restaurants cannot be accessed that interest will remain low. we were hoping there would be a jump in search and interest, but not meaningful enough yet. if you look at southeast asia operating as well, we did see a very strong rebound. yvonne: do you think airlines are prepared for this? i am seeing how they unfolded in europe and the u.s. do you think asia will have similar situations? >> when you looking at southeast asia i think it is ok. the reopening was gradual. one area of concern i have is jap

haidi: there are some pockets of opportunity in asia, in particular southeast asia. we see that compared to global equities and the rest of the region. how is the market shaping up as we get into the last few months of the year? >> there are pockets of opportunity, there may not be enough to support asian markets. we are starting to see another week off day, this is again going to be hit today because of the energy prices -- crisis and what it means for global growth and demand and the demand from europe. it is incredibly uncertain. how deep this is going to impact investors. they already have to deal with the headwinds from china as you mentioned, they are widening the lockdown. they are sticking to the covid zero policy that impacted chinese growth and is continuing to weigh on investors. this is an opportunity there. as we head into the end of the year, as europe heads into winter with as energy crisis, it will be further pain. a lot of uncertainty as they try to figure out where is the bottom of this market? this market brought out that they have seen. i think pe

we just talked about southeast asia. as you can see, the weakness is quiet substantial.50 to almost 60 over nine months. we were talking to the philippine center and they said they were actually active in the market. >> they said they were busy yesterday. they were signaling further interest rate hikes. he did say they are not going to measure the same way but the governor told us exclusively that they are considering proactive market interventions. >> will have the same problems as the u.s. with inflation. the gap between u.s. inflation is nearly five points. >> it is still above your inflation market. >> yes. we project the middle of next year, inflation will be between three and four. and possibly closer to three then four. >> about boosting the philippines? >> if not for the fact that the fed policy could be doing that, in other words, we are responding to making sure we take care of inflation. and that will be carried over to next year. we are countering price pressures in the secondary effects of inflation. this will not be very good for them. there is this momentu

yvonne: michelle joining us on all things southeast asia.g up, extending a weeklong lockdown, how that is weighing on the economy. we will talk about that next. this is bloomberg. ♪ david: that's a quick zoom in. emerging from lockdown, the extension for a few more days. stephen engle, what do we know? >> it just shows the extent the authorities will continue to push the policies. shanghai was supposed to have an eight day lockdown. authorities are saying they want to stop the community spread so they're basically telling everyone in the central business district or neighborhoods of the city of 21 million people to stay indoors and get tested every day. they're going to extend this for at least another week to stamp out commuter spread. some of the outlying regions, people have been told if there is no spread in the comedic they can go about their daily business. but essentially it's a citywide lockdown is continuing and we don't know how long is going to last, and we don't know the extent of the economic damage. we know they will go to any

that the question is, will this be enough to quell the anger in southeast asia, us largest economy? us run is an economist with a center for indonesia policy studies in jakarta. welcome to dw news, asia, governments around the world as subsidizing energy costs. indonesia is taking those subsidies away. why? because it hadn't been to the huge intonation, national budget. we know that there has been increase in the global price than intended to, but because i'm assuming the subsidy july agency . so in the, in the major national budget function for a subsidy is the price to be like the us dollar. but when we run increased more than $100.00, already be huge. by the way, when i go to that, they don't enjoy it anymore. so the quite, i think they take out the funds. so the systems become affordable, but i find it interesting that they're only just working out now that a lot of these subsidies weren't going to the right people. we've got simulation every time i, every time because limits subsidies people assumption people will get the benefit from that. but we cannot pick up because of the a

the big question is, will this be enough to quell the anger in southeast asia? largest economist has run is an economist with a set of for indonesia policy studies in chicago. welcome to d, w, and use asia. governments around the world, a subsidizing energy costs. indonesia is taking those subsidies away. why? ah, i mean, because it has been a huge part of indonesian national budget. we know that there has been increase in the global price in the beginning. what that intended to but because i'm assuming the saturday july, i mean the agency. so in the international, by the function for subsidy is the always the price to be like the $3.00 us dollar . but when the oil rust increased more than $100.00, already be huge, but nobody has been, i've been goldman and they don't enjoy it anymore. so that's why i think they take out the problems. so the systems become on affordable, but i find it interesting that they're only just working out now that a lot of these subsidies weren't going to the right people. a resign i every time they go about subsidies, people are the bri

shery: let me turn to southeast asia, surprisingly i have seen a lot of optimism about some of theseconomies, including indonesia where we are expecting a rate hike in the philippines, cpi numbers out of malaysia and singapore this week as well. what are you watching? >> the southeast asian economy is doing pretty good given the inflation it is seen in southeast asia at the moment. southeast asia was a little bit late in terms of opening up and getting their domestic economies up and running again, and we are seeing that both in indonesia and the philippines. you mentioned the economies are opening up, domestic spending is improving, and in the philippines at least there is a good chance that fiscal policy will provide support with murder spending on infrastructure and education and health care and such. i think the outlooks are pretty good for both countries. i do think central banks will be willing to raise rates in order to manage the currency and to manage inflation. haidi: always great to chat with you, steve cochrane. get a roundup of the stories we need to know in today's edit

when i started my career i was the desk officer for southeast asia during the asian financial crisis. we were focused on back then because we were worried about the blowback in terms of the training and how much it would slow the u.s. economy and the u.s. economy is still going game busters because of the localization trend. it is your problem. alix: before i let you go if i look at the shirt -- the short-term direction of the euro am i looking at netherlands gas prices? marvin: they built the new lng facility so there is some positivity around that. alix: does that mean you see short-term stabilization and the opportunity for the euro to gain some stability? marvin: i can see that the euro could follow through in the short-term with the debt cap balance with what is going on in ukraine, but ultimately i do not think that lasts. i would expect the next two to three weeks seeing the downtrend reemerge. alix: thank you. we really appreciate your time. coming up we will stay on the topic of european gas and talk about the plan to cap energy profits. this is bloomberg. ♪ guy: checking the

goldman is more upbeat over southeast asia, countries including indonesia backing the global equities. let's take a quick look at how apple suppliers. apple made an announcement that the iphone 14 and a number of other products. apple is little changed after hours. same story for qualcomm and texas instruments, the only mover there, but not a lot -- a huge amount of change. the same could potentially be said for the products unveiled themselves. from the event in apple, bob o'donnell, the chief analyst at tech analysis research. we have gotten rather accustomed to apple blowing our minds in the past. do they still do this? what is your take away from the products? bob: look, they were incremental improvements. most of these are things to be expected. we saw improved iphones, improved watches. but it is the little extras you look for from apple. in their case, you could argue it is the satellite communications and they offer now with iphone 14 as well as is the zoom capabilities in the iphone 14 as well, especially the proseries. these were things we expected so seeing the market not m