:00:00. > :00:15.`` police investigating the murder of a student in Colchester our
:00:16. > :00:19.calling for witnesses. The race to be Indonesia's next president heats
:00:20. > :00:26.up. Will the strongest economic candidate win the vote? India is
:00:27. > :00:33.facing severe power shortages and blackouts are affecting many of its
:00:34. > :00:41.factories. Hello and welcome to Asia Business Report. Election day in
:00:42. > :00:46.Indonesia is drawing closer and polls suggest that a largely
:00:47. > :00:54.one`sided race has turned into a genuine competition. Indonesians had
:00:55. > :00:57.another opportunity to CD main presidential candidates in action
:00:58. > :01:03.last night as the men debated the major issues facing their country.
:01:04. > :01:10.Earlier I asked an economist what each candidate would do for
:01:11. > :01:19.Indonesia's economy. The candidates are quite similar if you look at
:01:20. > :01:28.their policies. The governor has proved his worth in politics before
:01:29. > :01:34.but he has said that he will cut subsidies if he comes to power. He
:01:35. > :01:37.way we read it is that either government that comes to power will
:01:38. > :01:45.have to have some level of subsidies. We know that Indonesia's
:01:46. > :01:48.economy route at its slowest pace since 2009 and so both are really
:01:49. > :01:54.under pressure to perform. What can they do? When they come to power, a
:01:55. > :02:00.monetary tightening agenda will have to continue. They have to lead the
:02:01. > :02:06.country with an effort to rebalance the economy. They need to focus on
:02:07. > :02:13.infrastructure and growth and things like that. The best thing they can
:02:14. > :02:16.do is to fast`track some of the infrastructure projects and to
:02:17. > :02:22.foster a level of manufacturing growth which has been lacking to an
:02:23. > :02:26.extent so far. We know that there has been a little bit of market
:02:27. > :02:32.uncertainty now because of this increased politician between these
:02:33. > :02:39.men so how are the markets expected to perform heading into these polls?
:02:40. > :02:45.We will probably see a bit of a dip but the risk around elections is
:02:46. > :02:52.quite high. On July nine and 10th when the elections start, we will
:02:53. > :03:02.probably see some of the restraint to start to come off because the
:03:03. > :03:07.risk is frankly lower at that time. In the latest group stages of the
:03:08. > :03:12.World Cup, Portugal and the USA have battled to a draw following a
:03:13. > :03:21.last`minute goal by the Portuguese side. Many of the viewers travelled
:03:22. > :03:26.in from abroad and they are providing a huge spending boost to
:03:27. > :03:34.the host economy. I spoke to the vice president of visa. We have
:03:35. > :03:40.found that tourists coming 60,000 of them are coming into Brazil for the
:03:41. > :03:48.World Cup and over a four`day period around the opening of the World
:03:49. > :03:53.Cup, we found that they increased spending by 73% of which is $20
:03:54. > :04:01.million. That is an extraordinary amount. Where is this spending
:04:02. > :04:08.come? `` coming from? It is the countries would expect. The USA
:04:09. > :04:14.coming France, the UK and Mexico. If you look at the Asia`Pacific
:04:15. > :04:19.numbers, the Australian tourists are dropping massive amounts. We know
:04:20. > :04:24.that they have a team in the World Cup but does it all comes down to
:04:25. > :04:34.the bigger increase from countries who have 18 represented? `` a team.
:04:35. > :04:39.Soccer is a world sport and everyone is excited about it and interested
:04:40. > :04:45.in it. Australia is seeing a big jump in Asia but also New Zealand
:04:46. > :04:51.with a 90% jump. Singapore has had a 70% jump in tourist spending in
:04:52. > :04:56.Brazil. It is a universal thing and the Asians have caught the fever. If
:04:57. > :05:02.we take a look at this spending, obviously it is a big boost to
:05:03. > :05:07.Brazil's economy but it is eventually offset by the cost of
:05:08. > :05:13.hosting the event so what is the determining factor in a country
:05:14. > :05:17.hosting an event like this? There are many different reasons why a
:05:18. > :05:21.country made choose to host a sporting event like this or the
:05:22. > :05:26.Olympics and they do tend to be expensive but what I can tell you is
:05:27. > :05:36.that it relates to the benefits of tourists coming in. 600,000 tourists
:05:37. > :05:38.are expected in Brazil and $27 million has been spent over four
:05:39. > :05:46.days which certainly helps the local economy. We are seeing spending in
:05:47. > :05:52.hotels, of course and hotels and other merchants so it does help the
:05:53. > :06:01.local economy. In other business news, shares of Australia's Ten
:06:02. > :06:05.Network has jumped over speculation of a takeover bid from a US private
:06:06. > :06:12.equity firm which is considering a bid for the struggling network.
:06:13. > :06:21.General Electric has taken the assets of Alstom after it was agreed
:06:22. > :06:26.that 20% of its stake would be sold to the French government and that
:06:27. > :06:31.was a key condition for the GE deal to go through. They will be paying
:06:32. > :06:34.OEMs of dollars for their assets making it one of their biggest
:06:35. > :06:45.acquisitions. A Chinese company has pulled out of Paramount's upcoming
:06:46. > :06:49.movie Transformers four over a Ontrack dispute and has demanded
:06:50. > :06:55.that its logo and properties be edited out of the film. They have
:06:56. > :07:05.also asked the Chinese government to suspend screening of the film. Asos
:07:06. > :07:09.have to Cash suspended new orders after a fire at its warehouse in
:07:10. > :07:16.northern England which contained millions of packages of clothes.
:07:17. > :07:24.They hope to be up and running again in a day or two. India is facing
:07:25. > :07:26.severe power shortages which should become particularly acute after
:07:27. > :07:32.increased demand in the summer months. Many in Delhi have been
:07:33. > :07:42.asked to do without power for a few hours a day and many others also
:07:43. > :07:50.have to tackle a lecture city cuts. Now we go to our correspondent. This
:07:51. > :07:57.upscale shopping mall like all the others in Delhi has no electricity
:07:58. > :08:02.supply after ten o'clock at night. The regular power outage is a
:08:03. > :08:07.planned move by the government to reduce the pressure on the creaking
:08:08. > :08:13.power grids. So this is what they rely on, a network of diesel powered
:08:14. > :08:19.generators that keep them running. The head of the operation says they
:08:20. > :08:26.have to store over 60,000 L of diesel to fuel just the backup. This
:08:27. > :08:31.is the economy at work and we cannot afford to have a power cut. Power is
:08:32. > :08:38.fundamental for any economic development. India has frequent
:08:39. > :08:45.power cuts because demand often outstrips supply causing grades like
:08:46. > :08:48.this one to fail. 300 million people across the country lack access to
:08:49. > :08:52.electricity and are not even connected to a grade of any kind
:08:53. > :08:56.which makes consumption of electricity in India among the
:08:57. > :09:03.lowest in the world. In spite of the low consumption, India is still
:09:04. > :09:09.unable to power its industry. Factory owners say it hurts their
:09:10. > :09:14.global competitiveness. If you look at countries like China and others,
:09:15. > :09:24.we are competing with them and their electricity is 20 47 and we have to
:09:25. > :09:31.rely on generators. It does impact our costings and our buyers don't
:09:32. > :09:34.understand that. Powerplants generated by coal supply much of
:09:35. > :09:40.India's electricity. There is sufficient to Mystic coal but the
:09:41. > :09:50.country's rail system cannot transported quickly enough ``
:09:51. > :09:56.domestic. As India's economy expands, the shortfall will
:09:57. > :10:00.increase. We have had a slump in industrial growth and the demand is
:10:01. > :10:05.being moderated but as soon as it picks up, these shortages will prop
:10:06. > :10:13.up again. Unless urgent action is taken, this could stifle India's
:10:14. > :10:20.growth and business. For more news and analysis, you can log onto our
:10:21. > :10:29.website but that is pretty much it for now. Don't forget to follow us
:10:30. > :10:48.on Twitter. We will have all the latest from the World Cup up next.
:10:49. > :10:51.The headlines on BBC News. ISIS fighters have taken full control of
:10:52. > :10:52.Iraq's border with