23/06/2016 Asia Business Report

for a special programme on the referendum. We will be overseeing

the results of the votes as they start coming in. More from me later.

Friend or Foe- can the investment bank confront its critics as it

prepares to hold its first meeting and working hard in the lap of

luxury. An insider 's look of what it takes to run a 5-star hotel.

Welcome. The China backed Asia infrastructure bank holds its first

meeting this weekend with representatives from the 57 founding

members. The bank is widely seen as a rival to the World Bank, led by

the US, of course a number of US allies have joined it. I asked what

is likely to be on the agenda? The second panel discussion is about

green lending and investment. They are focused on the Click correct

issues but there are going to be three things are discussed -

firstly, a bit of getting the day you session. The organisation is

less than a year old. -- getting to know you session. Secondly, other

discussions with other multilateral banks. It is quite clear the AIIB is

not in competition with these organisations but is cooperating

with them. Thirdly, discussions with Boris and service providers to the

AIIB. Very fascinating. They have their work cut out for them. What

are some of the projects they have been funding and concerns that they

may be critically motivated by Beijing? That was the initial

concern. That this was really a political vehicle from China but in

actual fact, a lot of those concerns have in dissipated over the course

of the last year or two back. There will be about a dozen projects

launched in the first year and pretty much all of those projects

are going to be in infrastructure, obviously, but also in cooperation

with other banks. This is not setting its own agenda but it is

setting negotiations with other organisations. Has the US in Petterd

and -- impediment been much of a hurdle? They have legitimate

concerns but quite frankly it has not stopped the organisation romp

setting up. There are 57 members. -- from setting up. They raise a

sizeable outcome. Half of the capital of the World Bank. Pretty

sizeable. Over the course of the coming decade, they could be a

significant force in infrastructure investment. In Asia there is a

Chilean demand in infrastructure needed. --8 trillion. A downgrade in

growth forecast with a 2.2% prediction which is down from last

year. Christine Lagarde, director of the IMF, called on the US to raise

minimum wage and to encourage more women to work. The IMF chief says

the Federal Reserve should avoid sudden moves on interest rates. Any

such decision to increase rates should be data dependent, gradual

and should clearly be focused on the objective of stability and not

abrupt decisions, 1-way or the other. Shares of Tesla motors tanked

by more than 10% after the electric car maker made an offer to buy the

solar installation for them, solar city. $3 billion worth stop there

was a lack of specifics on how a potential merger could bring savings

to both companies. FedEx shares closed 5% lower after the company

reported a company lost it blamed pension adjustment. And other

factors. It has no clarity on how the acquisition will affect future

earnings. Mitsubishi motors have forecast a net loss for the current

business year in the wake of its current fuel scandal. It has been

falsifying tests for decades. It led to a sell-off of Company shares

dropping more than 3 billion dollars. Cathay Pacific has decided

to ban the shipment of shark fins in all flights with immediate effect.

It is a turnaround. It now joined the list of other international

airlines who have adopted the ban, including Qantas and Singapore

airlines. Coutinho is key when it comes to business but could also

potentially be damaging? -- connection. In China, a study has

looked at the impact it is having on the financial industry was concerned

about relationships between financial analysts and fund

managers. It exists in every society and culture. Even in the US and

Europe, you find it affecting business relationship but in no

other country is it more important than in China. The reason is pretty

simple, the market is not well developed and the cost of

transaction is pretty high so people have to resort to low-cost ways to

do business. Is it potentially harmful to markets and what can and

be done to regulate it? Financial analysts and fund managers find ways

to collude and benefit each other rather than help small investors.

The typical career past of a mutual fund manager is to work a few years

in a brokerage house and then work as a fund manager. They keep these

natural relationship. What is your dream job? Most people could name on

the not everyone manages to make money the way they really want to.

We are going to meet people from around the region who have made a

career out of doing something quite cool. This week, we find out how one

Polish man went from chef to running a 5-star hotel here, in Singapore. I

the general manager of this hotel. Being operational manager in

different destinations for almost 80 years --8. There are more

responsibilities but I am going to be myself and am going to fix

everything. When a look at myself today, I am very proud of what I

have achieved. What drives me is of the same as what drove me 20 years

ago-to be a better person, to live a better. I do not want to be the

richest man in the world. I started as a chef. My aspiration was my

uncle. I loved to sit next to him in the kitchen and looked at the way he

was creating his food. That inspired me at the time to do something for

others. To bring satisfaction and smiles to other people. I have seen

so many different management styles and, you know, that is what drives

me at the time, to come to work and learn how you talk, how you dress,

how you create atmosphere in the hotel. If this is my last role, I do

not know, in the sense of development. When I work, I have my

pleasure element. I did not work hard to be stressed, I work hard to

follow my passion. This is the end of the report. Stay tuned for

sports, that his next. You are watching BBC News. The

headlines: it is time