:00:00. > :00:00.visit to Britain, the first by an Irish head of state. Now on BBC
:00:00. > :00:17.News, all the latest business news live from Singapore. Indonesians
:00:18. > :00:24.head to the polls, what impact will this have on the economy? And cool
:00:25. > :00:34.jobs. Find out what it's like to plan parties for celebrities. Thanks
:00:35. > :00:38.for watching Asia Business Report, broadcasting to viewers around the
:00:39. > :00:40.world, I'm Rico Hizon in Singapore. We kick off with Indonesia, and
:00:41. > :00:44.voters trip to the polling stations today to choose the new lawmakers
:00:45. > :00:49.for Parliament. It is the first step that will help choose the new
:00:50. > :00:53.President. But what effect will it have on the country's economy?
:00:54. > :00:56.Earlier I spoke to one of our regular guests and I asked him how
:00:57. > :01:03.the Asia economy was performing this year. The trade deficit has improved
:01:04. > :01:10.somewhat, inflation has come down somewhat, and the interest rate has
:01:11. > :01:13.stabilised. `` exchange rate. You have to connect this with the global
:01:14. > :01:20.market environment, where external risks have levelled to some extent.
:01:21. > :01:23.So the comfort level in Indonesia, there are more than a few
:01:24. > :01:26.fundamentals which have risen, and the money has come back and there is
:01:27. > :01:31.a feelgood factor. How important is the performance of the economy to
:01:32. > :01:34.voters? It was substantial last year, it has abated to some extent
:01:35. > :01:42.for the reasons I mentioned, because things have stabilised and inflation
:01:43. > :01:45.has come down. Perhaps they're not as concerned as last year. India is
:01:46. > :01:48.a good contrast, where economic issues are paramount. In Indonesia
:01:49. > :01:56.they are still old`fashioned with going with personalities and images.
:01:57. > :01:58.Staying with elections, voters are said to choose representatives for
:01:59. > :02:01.India's parliament in the next few days, the results of which would
:02:02. > :02:12.have significant implications for the economy. What should be at the
:02:13. > :02:28.top of the agenda for the new lawmakers? It can be safe to say,
:02:29. > :02:35.regardless of the election outcome, the goal, post` election, would be
:02:36. > :02:38.to keep investment going. And in that regard, there have been some
:02:39. > :02:54.missteps. The policies past have been seen as more favouring domestic
:02:55. > :02:56.and foreign businesses. Staying with elections, voters are said to choose
:02:57. > :02:59.representatives for India's parliament in the next few days, the
:03:00. > :03:04.results of which would have significant implications for the
:03:05. > :03:08.economy. The stock market has already risen in anticipation, but
:03:09. > :03:12.where do the political parties stand on the big issues? The overall cost
:03:13. > :03:15.of living has increased by about 10% annually. To try and control prices,
:03:16. > :03:20.India's Central Bank has raised interest rates many times. But that
:03:21. > :03:27.also can hurt growth. So what do politicians think is the answer? We
:03:28. > :03:31.need to enlarge economic activity. Then we will have the revenue to
:03:32. > :03:37.take care of the supply side of it. Plus you have to address the gross
:03:38. > :03:40.mismanagement of the food economy. You have to have a curious and
:03:41. > :03:46.striking balance between not having inflation and deflation. At the
:03:47. > :03:48.moment we are seeing some satisfaction with improvement
:03:49. > :03:55.possible, but it's a constant watch and battle. Opening the door to the
:03:56. > :04:00.likes of Walmart and Tesco has been the flagship policy of the current
:04:01. > :04:06.government. It says it could help improve consumer choice, modernise
:04:07. > :04:12.supply chains, and create jobs. But the BJP said it could scrap the
:04:13. > :04:20.policy. What do they do? They outsource from the world and dump it
:04:21. > :04:23.in their houses. That will be a case where the Indian sector would lose a
:04:24. > :04:36.lot and create a problem for our very small grass`roots owners. But
:04:37. > :04:40.the government disagrees. What happened to paying more to the
:04:41. > :04:47.farmer and getting less from the consumer? Are you happy paying to
:04:48. > :04:54.those middlemen involved? What about the promotion of refrigeration
:04:55. > :04:56.chains and warehouses? While everyone is focused on the big
:04:57. > :04:59.parties, the smaller parties hold the key this election. I'm at the
:05:00. > :05:03.headquarters of a new party which surprised many with a strong showing
:05:04. > :05:06.in the Delhi state elections, on the promise of fighting corruption.
:05:07. > :05:09.While they are strong on that and other issues, they didn't want to
:05:10. > :05:12.speak to us on the economic vision they have. That's a pity, because
:05:13. > :05:15.they could hold some sway on the Coalition that comes to power, and
:05:16. > :05:24.trying to fix the Indian economy will be a big priority. In other
:05:25. > :05:27.news, South Korea and Australia have signed a free trade agreement which
:05:28. > :05:32.will scrap almost all tariffs within a decade. Australia will immediately
:05:33. > :05:38.lift its 5% tariff on cars and South Korea will scrap most of its
:05:39. > :05:41.agricultural taxes. Prime Minister Tony Abbott has also entered an
:05:42. > :05:49.agreement with Japan this week and is pushing for a similar one with
:05:50. > :05:52.China as well. Authorities in the United States has fined General
:05:53. > :05:54.Motors after they did not respond to requests for information around
:05:55. > :05:58.faulty ignition switches that have been linked to 13 deaths. They have
:05:59. > :06:00.been fined $7,000 a day until they comply with authorities. Faults were
:06:01. > :06:30.first reported more than ten years ago. One of the world's biggest
:06:31. > :06:37.producers of aluminium, Alcoa, has reported losses. It was hit an 8%
:06:38. > :06:42.decline in the price of aluminium compared to the same period last
:06:43. > :06:52.year. The results include the closures of smelters and rolling
:06:53. > :07:00.mills in Australia and the US. A pharmaceutical company, Takeda, has
:07:01. > :07:10.been accused of hiding the cancer risk involved in one of its drugs.
:07:11. > :07:13.Stocks fell following the verdict. Now, if your idea of a cool job
:07:14. > :07:16.involves flamboyant parties and networking with millionaires, then
:07:17. > :07:18.this might interest you. With more and more wealthy individuals in
:07:19. > :07:21.Singapore, one woman set up a business as a party planner to the
:07:22. > :07:34.stars. Lavish and extravagant scenes are a normal day in the office. We
:07:35. > :07:37.found out more. If you like hobnobbing with celebrities and have
:07:38. > :07:47.a flair for creativity, then this may be the job for you. Olga is
:07:48. > :07:50.putting the finishing touches to a charity ball, with tickets costing
:07:51. > :07:53.thousands. Her job is to plan lavish parties for the rich and famous.
:07:54. > :07:58.Kevin Spacey, Ronan Keating, Diane von Furstenberg. These are some of
:07:59. > :08:04.the famous names she has entertained as part of her job as a party
:08:05. > :08:09.planner to the stars. Her clients include Rolls`Royce, Cartier and
:08:10. > :08:12.American Express. Just some of the big brands that call her when they
:08:13. > :08:16.want to throw extravagant events to splash out on their high`spending
:08:17. > :08:22.customers. When she's not on location setting up, she often works
:08:23. > :08:30.from home. So what makes your job such a cool job? Well, I meet so
:08:31. > :08:40.many amazing people. Some famous people, creative people, inspiring
:08:41. > :08:46.people. I get to know them. It's not all about fun and parties, though.
:08:47. > :09:01.While the sky is the limit for some corporate events, not all of them
:09:02. > :09:06.will make a lot of money. For the charity events, it is pro bono, and
:09:07. > :09:10.I have done it for many years. For the clients' events, it depends on
:09:11. > :09:14.the overall Budget and I see how I can fit my feet into it. Do you
:09:15. > :09:17.think people come to you because you offer something different, you have
:09:18. > :09:22.this European sensibility? What makes you suited to this particular
:09:23. > :09:25.line of work? My overall cultural background, with my childhood in St
:09:26. > :09:28.Petersburg, I learned how to play violin and piano and I went to the
:09:29. > :09:32.School of Arts. I believe this background and education I was given
:09:33. > :09:35.early on in my life gives me an opportunity to show this creativity
:09:36. > :09:38.through the events that I stage. But don't let that stop you. If you
:09:39. > :09:41.don't mind the adrenaline rush of working to tight deadlines, under
:09:42. > :09:44.the pressure of demanding clients, and you can always think a step
:09:45. > :10:05.ahead to the next party, then what Olga does may well appeal to you.
:10:06. > :10:08.That is a cool job. Before we go, here's a quick look at the markets,
:10:09. > :10:11.and most Asian equities are in positive territory following Wall
:10:12. > :10:13.Street's gains overnight. But Japanese equities are tumbling,
:10:14. > :10:22.following the yen's surge on the dollar. That was after fading hopes
:10:23. > :10:30.of measures by the bank of Japan. Hong Kong, South Korea and Australia
:10:31. > :10:35.in the winning column. As for Japan, down by 210 points. Those are the
:10:36. > :10:47.Asian markets. Thank you so much for investing your time with us. Sport
:10:48. > :10:50.Today is up next. The top stories this hour. Deputies have traded
:10:51. > :10:52.blows in Ukraine's parliament as NATO warns Russia further
:10:53. > :10:55.intervention would be a historic mistake. Senior officials from the
:10:56. > :10:57.US, Russia, Europe and Ukraine will meet next week. Oscar Pistorius has
:10:58. > :10:58.wept in court