:00:00. > :00:31.We expect the Asian economy will grow by 10%, but we are disappointed
:00:32. > :00:35.by those who say the country will collapse. The former finance
:00:36. > :00:40.minister in Southeast Asia's largest economy weighs in on the current
:00:41. > :00:44.state of affairs. And book a bright or halo taxi. Find out how cab
:00:45. > :00:51.drivers in more buy are battling the wave of ridesharing apps -- or hail
:00:52. > :00:57.a taxi. Good morning. It is Friday! The
:00:58. > :01:07.weekend is just around the We start off in Indonesia and the
:01:08. > :01:10.central bank will decide today on whether its key lending rates need
:01:11. > :01:14.to go lower to help spur economic growth. The country's struggle is
:01:15. > :01:21.partly due to slowing demand for its come -- commodities from China. We
:01:22. > :01:27.spoke to Indonesia's former finance minister and asked if there is room
:01:28. > :01:33.for interest rates to be cut. I think there is room for Indonesia to
:01:34. > :01:39.lower the interest rate, especially if this amnesty were to have an
:01:40. > :01:43.impact on capital as well. There are concerns about the impact that a
:01:44. > :01:48.potential hike in US interest rates could have on Indonesia's economy.
:01:49. > :01:51.What do you think that might be? I am not so worried about the
:01:52. > :01:59.possibility of the raising of interest rates. It will probably be
:02:00. > :02:06.short lived. In addition, it is better to have this weak currency in
:02:07. > :02:11.order to boost our manufacturing, otherwise the economy will continue
:02:12. > :02:15.to focus on natural resources. Indonesia has launched this new tax
:02:16. > :02:19.amnesty programme. It is very ambitious and claims, certainly from
:02:20. > :02:21.what we've been hearing from the government, they are expecting
:02:22. > :02:26.billions of dollars worth of revenue back to Indonesia. You think it will
:02:27. > :02:32.work? In general I think there will be some repatriations. But the
:02:33. > :02:37.question is by how much it will improve the tax space will the new
:02:38. > :02:40.minister of finance suggested the budget and I think it was the right
:02:41. > :02:45.decision because she put the budget in a very conservative way, taking
:02:46. > :02:54.this amnesty as a bonus, rather than taking it as part of the government
:02:55. > :02:59.decision. There were worries that the economy would continue to grow,
:03:00. > :03:03.and foreign investors are looking anxiously at Indonesia because they
:03:04. > :03:08.are hearing mixed signals. Indonesia is a disappointing country. It
:03:09. > :03:13.disappoints optimists who think the economy will grow by 10%, but it
:03:14. > :03:21.disappoints people who think that economy will collapse every day.
:03:22. > :03:26.Everytime there about 6.5% growth we are exposed with the problem of the
:03:27. > :03:32.deficit because we don't have enough to finance investment. So the only
:03:33. > :03:35.decision is to improve the activity. Indonesia, you can't rely on
:03:36. > :03:39.national resources any more or completely Bangladesh because the
:03:40. > :03:46.wages don't compare with ours, so the only solution is how to come up
:03:47. > :03:51.with a sector supported by human capital. That was the former finance
:03:52. > :03:54.minister of Indonesia. Sydney, Beijing, London and Rio have earned
:03:55. > :04:00.the privilege of being Olympic hosts. The sporting extravaganza is
:04:01. > :04:06.often touted as a major tourism boost, with millions of visitors
:04:07. > :04:09.guaranteed. But what happens after the Games to the stadiums and
:04:10. > :04:14.swimming pools, after the party is over? One architect has worked on
:04:15. > :04:19.many events over the decades and has spoken about what developers can do.
:04:20. > :04:22.There are huge budgets allocated to the Olympic Games and in a perfect
:04:23. > :04:26.world the vast majority of those funds are spent on legacy items, so
:04:27. > :04:32.for the roads, the railway lines et cetera. Those things are done
:04:33. > :04:36.because of the Olympic Games but are left as lasting legacies. For the
:04:37. > :04:40.monetisation of the individual venues, the key thing is creating
:04:41. > :04:43.flexibility in the venues and actually putting things inside the
:04:44. > :04:49.venues which is beyond the sports themselves. If you would like to
:04:50. > :04:55.name a couple or several host countries, which have been
:04:56. > :04:59.successful not only in hosting the Olympic dames but have also been
:05:00. > :05:06.successful in monetising the venues after the events? I would say it is
:05:07. > :05:11.almost impossible to host the perfect Olympic Games. There are
:05:12. > :05:15.always floors. However, I would think that for the Olympics I have
:05:16. > :05:20.participated in and witnessed, I would say that London is still
:05:21. > :05:24.perhaps the high watermark in my opinion, in terms of being
:05:25. > :05:30.responsible, in terms of delivering the Games and after the Games
:05:31. > :05:34.leaving a lasting legacy. As an example, I worked on the handball
:05:35. > :05:38.venue and the fencing venue, that was used inside the London Olympic
:05:39. > :05:43.park. However, it was designed in such a way as to be left as a
:05:44. > :05:50.lasting legacy. So kindergartens, fitness centres, cafes, all
:05:51. > :05:54.incorporated into the buildings so that that's actually what the
:05:55. > :05:58.community uses it for. The Olympics is just something that was used in
:05:59. > :06:04.the building for one month. The next Olympic Games will be held in Tokyo
:06:05. > :06:09.in 2020. Everyone will be looking ahead to the 2024 Olympic Games. For
:06:10. > :06:13.those who are interested to bid, what would be the ultimate checklist
:06:14. > :06:18.for countries looking for hosting rights? It is all about trying to
:06:19. > :06:22.create efficient Olympic master plans. It is about trying to
:06:23. > :06:27.minimise the amount of permanent buildings that are necessary for the
:06:28. > :06:33.future and maximising the temporary venues so that you don't leave too
:06:34. > :06:36.many so-called white elephants. But most importantly it is about
:06:37. > :06:45.creating long-lasting benefits for the people of that city. Olympic
:06:46. > :06:50.venue architect with us there. Samsung has just seen its market
:06:51. > :06:57.value cross the $200 billion mark, making it five times more valuable
:06:58. > :07:03.than Sony and pushes it closer towards the ranks of Chinese
:07:04. > :07:08.internet giants Alibaba and 10 cents holdings. Alibaba shares jumped 5%
:07:09. > :07:13.to an all-time high yesterday and this morning they are slightly lower
:07:14. > :07:21.in early sole trading. It is the end of the road for hundreds of workers
:07:22. > :07:26.in India's taxi company that try to compete with Uber. What are
:07:27. > :07:40.traditional cab drivers to do? For more than 50 years more by's
:07:41. > :07:43.black taxis have driven the city's roads, but these drivers have a
:07:44. > :07:47.problem, because instead of hailing a ride in a traditional cab more
:07:48. > :07:53.passengers are using their smartphones to make a booking
:07:54. > :07:59.through Uber, or one of its Indian rivals. This man used to own a --
:08:00. > :08:03.earn about $400 a month but over the past couple of years he has seen his
:08:04. > :08:09.income almost half and so drivers like him are hoping their fortunes
:08:10. > :08:11.can be reversed with an app of their own that lets customers book a black
:08:12. > :08:18.and yellow taxi on their smartphones. TRANSLATION: It is the
:08:19. > :08:22.age of technology, so even we have to use it to survive in the market.
:08:23. > :08:27.Hopefully this will help us get more customers. Five years ago there were
:08:28. > :08:33.nearly 55,000 black and yellow taxis in more by. Now there are only about
:08:34. > :08:36.35000 and that's because more and more drivers are signing up with
:08:37. > :08:46.what is seen as the modern alternative. Uber claims that nearly
:08:47. > :08:50.one third of its drivers in India used to use black and yellow taxis
:08:51. > :08:54.or auto rickshaws. To try to recruit more it is offering deals, so
:08:55. > :09:00.drivers can buy their own vehicle and then drive under the system. The
:09:01. > :09:07.benefit to us clearly and always is more drivers partners. There is a
:09:08. > :09:13.commitment we've given to create 75,000 jobs. Already in two and a
:09:14. > :09:20.quarter years 65,000 drivers are registered. Many more by taxi
:09:21. > :09:23.drivers still see the likes of Uber as unset competition and wants the
:09:24. > :09:30.government to regulate fares. But that's only part of the problem.
:09:31. > :09:36.Black and Yellow taxis are often too old or uncomfortable to travel in.
:09:37. > :09:39.This one's window doesn't even function. So little wonder that
:09:40. > :09:46.passengers are increasingly using their smartphones and booking
:09:47. > :09:51.air-conditioned cars. That means the survival of Black and Yellow taxis
:09:52. > :10:02.will depend not just on them embracing technology introduced by
:10:03. > :10:09.rivals, but also the standards. Before we go, a quick look at the
:10:10. > :10:18.markets. Asia is ticking a touch higher in early Friday trade.
:10:19. > :10:21.Surging oil prices meant they touch their highest in six weeks, lifting
:10:22. > :10:28.energy sector stocks, especially in Japan and Sydney. Brent crude is now
:10:29. > :10:33.at $50 per barrel. And the US dollar is hitting its lowest level in
:10:34. > :10:40.nearly eight weeks in an eight-week low, after the July meeting showed a
:10:41. > :10:53.bias. Thanks for investing your time with us. Goodbye for now.
:10:54. > :10:54.The top stories: Brazilian police accuse a