:00:00. > :00:00.of state. Now time for all the latest business news live from
:00:00. > :00:12.Singapore with Asia Business Report and Rico.
:00:13. > :00:21.Indonesians head to the polls, what impact will this have on the
:00:22. > :00:26.economy? And cool jobs. Find out what it's
:00:27. > :00:33.like to plan parties for celebrities.
:00:34. > :00:36.Thanks for watching Asia Business Report, broadcasting to viewers
:00:37. > :00:40.around the world, I'm Rico Hizon in Singapore. We kick off with
:00:41. > :00:46.Indonesia and voters trip to the polling stations today to choose the
:00:47. > :00:51.new law makers for Parliament. It is the first step that will help choose
:00:52. > :00:55.the new President. But what effect will it have on the country's
:00:56. > :01:00.economy? Earlier I spoke to one of our regular guests and I asked him
:01:01. > :01:05.how the Asia economy was performing this year. The trade deficit has
:01:06. > :01:10.improved somewhat, inflation has come down somewhat, and the interest
:01:11. > :01:14.rate has stabilised. You have to connect this with the global market
:01:15. > :01:20.environment where external risks have levelled to some extent. In
:01:21. > :01:23.Indonesia, there are more than a few fundamentals, and they have risen
:01:24. > :01:29.and the money has come back and there is a feelgood factor. How
:01:30. > :01:33.important is the performance of the economy to voters? It was
:01:34. > :01:38.substantial last year, it has abated to some extent for the reasons I
:01:39. > :01:41.mentioned because things have stabilised and inflation has come
:01:42. > :01:46.down. They're not as concerned as last year. India is a good
:01:47. > :01:52.contrast, where economic issues are paramount. In Indonesia they are
:01:53. > :01:59.still old`fashioned with going with personalities and images.
:02:00. > :02:01.Staying with elections, voters are said to choose representatives for
:02:02. > :02:09.India's parliament in the next few days, the results of which would
:02:10. > :02:17.have significant implications for the economy. Where do the political
:02:18. > :02:23.parties stand on the big issues? The overall cost of living has
:02:24. > :02:28.increased by about 10% annually. To try and control prices, India's
:02:29. > :02:32.Central bank has raised interest rates many times. But that also can
:02:33. > :02:40.hurt growth. So what do politicians think is the answer? We need to
:02:41. > :02:45.enlarge economic activity. Then we will have the revenue to take care
:02:46. > :02:47.of the supply side of it. Plus you have to address the gross
:02:48. > :02:53.mismanagement of the food economy. You have to have a curious and
:02:54. > :02:58.striking balance between not having inflation and deflation. At the
:02:59. > :03:02.moment we are seeing some satisfaction with improvement
:03:03. > :03:07.possible, but it's a constant watch and battle. Opening the door to the
:03:08. > :03:13.likes of Walmart and Tesco has been the flagship policy of the current
:03:14. > :03:19.government. It says it could help improve consumer choice, modernise
:03:20. > :03:25.supply chain and create jobs. But the BJP said it could scrap the
:03:26. > :03:33.policy. What do they do? They outsource from the world and dump it
:03:34. > :03:41.in their houses. That will be a case where the Indian sector would lose a
:03:42. > :03:47.lot and create a problem for our very small grass`roots owners. But
:03:48. > :03:53.the government disagrees. What happens to paying more to the farmer
:03:54. > :03:59.and getting less from the consumer? Are you happy paying to those
:04:00. > :04:02.middlemen involved? What about the promotion of refrigeration chains
:04:03. > :04:06.and warehouses. While everyone is focused on the big parties, the
:04:07. > :04:10.smaller parties hold the key this election. I'm at the headquarters of
:04:11. > :04:15.a new party which surprised many with a strong showing in the Delhi
:04:16. > :04:18.state elections on the promise of fighting corruption. While they are
:04:19. > :04:22.strong on that and other issues, they didn't want to speak to us on
:04:23. > :04:26.the economic vision they have. That's a pity because they could
:04:27. > :04:32.hold some sway on the Coalition that comes to power, and trying to fix
:04:33. > :04:37.the Indian economy will be a big priority. In other news, South Korea
:04:38. > :04:42.and Australia have signed a free trade agreement which will scrap
:04:43. > :04:47.almost all tariffs within a decade. Australia will immediately lift its
:04:48. > :04:54.5% tariff on cars and South Korea will scrap most of its agricultural
:04:55. > :04:58.taxes. Tony Abbott has also entered an agreement with Japan this week
:04:59. > :05:02.and is pushing for a similar one with China as well. Authorities in
:05:03. > :05:06.the United States has buying General Motors after they did not respond to
:05:07. > :05:11.requests for information around faulty ignition switches that have
:05:12. > :05:21.been linked to 13 deaths `` find. They have been fined $7,000 a day
:05:22. > :05:25.until they comply with authorities. Faults were first reported more than
:05:26. > :05:30.ten years ago. The world economy is growing but so are the risks for
:05:31. > :05:34.emerging markets. The warning from The International Monetary Fund came
:05:35. > :05:46.in its twice a year world economic outlook. Michelle is in Washington
:05:47. > :05:51.for us. While the world economy is growing
:05:52. > :05:56.there are signs of weakness. The IMF trimmed its forecast slightly for
:05:57. > :05:58.emerging markets. The tightening right here in the United States of
:05:59. > :06:04.Monetary Policy Committee is just one of the challenges they face.
:06:05. > :06:12.Although IMF chief economist believes they will adjust. I think
:06:13. > :06:16.the Chinese authorities agree that the rebalancing of growth towards
:06:17. > :06:21.domestic consumption will probably lead to a slightly lower growth
:06:22. > :06:25.rate, in the range of around 6%. I think this is coming, not coming
:06:26. > :06:33.this year, but it is coming and the world will have to adjust to this,
:06:34. > :06:37.it won't do it easily, though. He does expect growth to be low in the
:06:38. > :06:47.future as the country becomes less reliant on exports. Once in a while
:06:48. > :06:51.there will be flareups. But I expect the process to be fairly smooth. The
:06:52. > :06:54.world is changing for emerging markets, they will face high
:06:55. > :07:00.interest rates and tighter financial conditions. Despite perceived
:07:01. > :07:05.risks, the mood here is broadly optimistic. After all the Fund is
:07:06. > :07:11.predicting global growth to continue not just for this year but also into
:07:12. > :07:19.next. Now, if your idea of a cool job
:07:20. > :07:23.involves flamboyant parties and networking with millionaires then
:07:24. > :07:26.this might interest you. With more and more wealthy individuals in
:07:27. > :07:30.Singapore, one woman set up a business as a party planner to the
:07:31. > :07:43.stars. Lavish scenes and and extravagant scenes are per day in
:07:44. > :07:47.the office. We found that more. If you like hobnobbing with
:07:48. > :07:52.celebrities and have a flair for creativity, then this may be the job
:07:53. > :07:58.for you. Older is putting the finishing touches to a charity ball
:07:59. > :08:01.with tickets costing thousands. Her job is to plan lavish parties for
:08:02. > :08:07.the rich and famous. Kevin Spacey, Ronan Keating, Diane von Foston
:08:08. > :08:12.Burke. These are some of the famous names she has entertained as part of
:08:13. > :08:17.her job as a party planner to the stars. Her clients include
:08:18. > :08:22.Rolls`Royce, Cartier and American Express. Just some of the big brands
:08:23. > :08:24.that call her when they want to throw extravagant events to splash
:08:25. > :08:28.out on their high spending customers. When she's not on
:08:29. > :08:37.location setting up she often works from home. So what makes your job
:08:38. > :08:44.such a cool job? Well, I meet so many amazing people. Some famous
:08:45. > :08:51.people, creative people, inspiring people. I get to know them. It is
:08:52. > :08:55.not all about fun and parties, though. While the Skye's Law it for
:08:56. > :09:03.some corporate events, not all of them will make a lot of money ``
:09:04. > :09:08.while the Skye's Law it. For the client's events it depends on the
:09:09. > :09:12.overall budget and I see how I can fit my feet into it. Do you think
:09:13. > :09:17.people come to you because you offer something different, you have this
:09:18. > :09:22.European sensibility. What makes you suited to this particular line of
:09:23. > :09:26.work? My overall cultural background, with my childhood in St
:09:27. > :09:31.Petersburg, I learned how to play violin and piano and I went to the
:09:32. > :09:38.School of arts. I believe this background and education I was given
:09:39. > :09:43.early on in my life gives me an opportunity to show this creativity
:09:44. > :09:47.through the events that I stage. But don't let that stop you. If you
:09:48. > :09:50.don't mind the adrenaline rush of working to tight deadlines under the
:09:51. > :09:57.pressure of demanding clients then you can always think a step ahead to
:09:58. > :10:01.the next party, then what Olga does may well appeal to you `` and you
:10:02. > :10:05.can. Before we go here's a quick look at
:10:06. > :10:09.the markets and most Asian stocks are in positive territory following
:10:10. > :10:12.Wall Street's gains overnight but Japanese equities are tumbling
:10:13. > :10:20.following the yen's surge on the dollar. Hong Kong, South Korea and
:10:21. > :10:27.Australia in the winning column. As for Japan, down by 210 points. Those
:10:28. > :10:29.are the Asian markets. Thank you so much for investing your time with
:10:30. > :10:45.us. Sport Today is up next. By Mike Embley in London. Deputies
:10:46. > :10:46.have traded blows in Ukraine's Parliament as NATO warns