09/04/2014 Asia Business Report

visit to Britain, the first by an Irish head of state. Now on BBC

News, all the latest business news live from Singapore. Indonesians

head to the polls, what impact will this have on the economy? And cool

jobs. Find out what it's like to plan parties for celebrities. Thanks

for watching Asia Business Report, broadcasting to viewers around the

world, I'm Rico Hizon in Singapore. We kick off with Indonesia, and

voters trip to the polling stations today to choose the new lawmakers

for Parliament. It is the first step that will help choose the new

President. But what effect will it have on the country's economy?

Earlier I spoke to one of our regular guests and I asked him how

the Asia economy was performing this year. The trade deficit has improved

somewhat, inflation has come down somewhat, and the interest rate has

stabilised. `` exchange rate. You have to connect this with the global

market environment, where external risks have levelled to some extent.

So the comfort level in Indonesia, there are more than a few

fundamentals which have risen, and the money has come back and there is

a feelgood factor. How important is the performance of the economy to

voters? It was substantial last year, it has abated to some extent

for the reasons I mentioned, because things have stabilised and inflation

has come down. Perhaps they're not as concerned as last year. India is

a good contrast, where economic issues are paramount. In Indonesia

they are still old`fashioned with going with personalities and images.

Staying with elections, voters are said to choose representatives for

India's parliament in the next few days, the results of which would

have significant implications for the economy. What should be at the

top of the agenda for the new lawmakers? It can be safe to say,

regardless of the election outcome, the goal, post` election, would be

to keep investment going. And in that regard, there have been some

missteps. The policies past have been seen as more favouring domestic

and foreign businesses. Staying with elections, voters are said to choose

representatives for India's parliament in the next few days, the

results of which would have significant implications for the

economy. The stock market has already risen in anticipation, but

where do the political parties stand on the big issues? The overall cost

of living has increased by about 10% annually. To try and control prices,

India's Central Bank has raised interest rates many times. But that

also can hurt growth. So what do politicians think is the answer? We

need to enlarge economic activity. Then we will have the revenue to

take care of the supply side of it. Plus you have to address the gross

mismanagement of the food economy. You have to have a curious and

striking balance between not having inflation and deflation. At the

moment we are seeing some satisfaction with improvement

possible, but it's a constant watch and battle. Opening the door to the

likes of Walmart and Tesco has been the flagship policy of the current

government. It says it could help improve consumer choice, modernise

supply chains, and create jobs. But the BJP said it could scrap the

policy. What do they do? They outsource from the world and dump it

in their houses. That will be a case where the Indian sector would lose a

lot and create a problem for our very small grass`roots owners. But

the government disagrees. What happened to paying more to the

farmer and getting less from the consumer? Are you happy paying to

those middlemen involved? What about the promotion of refrigeration

chains and warehouses? While everyone is focused on the big

parties, the smaller parties hold the key this election. I'm at the

headquarters of a new party which surprised many with a strong showing

in the Delhi state elections, on the promise of fighting corruption.

While they are strong on that and other issues, they didn't want to

speak to us on the economic vision they have. That's a pity, because

they could hold some sway on the Coalition that comes to power, and

trying to fix the Indian economy will be a big priority. In other

news, South Korea and Australia have signed a free trade agreement which

will scrap almost all tariffs within a decade. Australia will immediately

lift its 5% tariff on cars and South Korea will scrap most of its

agricultural taxes. Prime Minister Tony Abbott has also entered an

agreement with Japan this week and is pushing for a similar one with

China as well. Authorities in the United States has fined General

Motors after they did not respond to requests for information around

faulty ignition switches that have been linked to 13 deaths. They have

been fined $7,000 a day until they comply with authorities. Faults were

first reported more than ten years ago. One of the world's biggest

producers of aluminium, Alcoa, has reported losses. It was hit an 8%

decline in the price of aluminium compared to the same period last

year. The results include the closures of smelters and rolling

mills in Australia and the US. A pharmaceutical company, Takeda, has

been accused of hiding the cancer risk involved in one of its drugs.

Stocks fell following the verdict. Now, if your idea of a cool job

involves flamboyant parties and networking with millionaires, then

this might interest you. With more and more wealthy individuals in

Singapore, one woman set up a business as a party planner to the

stars. Lavish and extravagant scenes are a normal day in the office. We

found out more. If you like hobnobbing with celebrities and have

a flair for creativity, then this may be the job for you. Olga is

putting the finishing touches to a charity ball, with tickets costing

thousands. Her job is to plan lavish parties for the rich and famous.

Kevin Spacey, Ronan Keating, Diane von Furstenberg. These are some of

the famous names she has entertained as part of her job as a party

planner to the stars. Her clients include Rolls`Royce, Cartier and

American Express. Just some of the big brands that call her when they

want to throw extravagant events to splash out on their high`spending

customers. When she's not on location setting up, she often works

from home. So what makes your job such a cool job? Well, I meet so

many amazing people. Some famous people, creative people, inspiring

people. I get to know them. It's not all about fun and parties, though.

While the sky is the limit for some corporate events, not all of them

will make a lot of money. For the charity events, it is pro bono, and

I have done it for many years. For the clients' events, it depends on

the overall Budget and I see how I can fit my feet into it. Do you

think people come to you because you offer something different, you have

this European sensibility? What makes you suited to this particular

line of work? My overall cultural background, with my childhood in St

Petersburg, I learned how to play violin and piano and I went to the

School of Arts. I believe this background and education I was given

early on in my life gives me an opportunity to show this creativity

through the events that I stage. But don't let that stop you. If you

don't mind the adrenaline rush of working to tight deadlines, under

the pressure of demanding clients, and you can always think a step

ahead to the next party, then what Olga does may well appeal to you.

That is a cool job. Before we go, here's a quick look at the markets,

and most Asian equities are in positive territory following Wall

Street's gains overnight. But Japanese equities are tumbling,

following the yen's surge on the dollar. That was after fading hopes

of measures by the bank of Japan. Hong Kong, South Korea and Australia

in the winning column. As for Japan, down by 210 points. Those are the

Asian markets. Thank you so much for investing your time with us. Sport

Today is up next. The top stories this hour. Deputies have traded

blows in Ukraine's parliament as NATO warns Russia further

intervention would be a historic mistake. Senior officials from the

US, Russia, Europe and Ukraine will meet next week. Oscar Pistorius has

wept in court