0:00:00 > 0:00:01to drop allegations of rape by a party member.
0:00:01 > 0:00:04Now on BBC News all the latest business news live from Singapore.
0:00:16 > 0:00:25India given a big boost in countries that want to do business with it. 46
0:00:25 > 0:00:41million people affected in Malaysia. Good morning, Asia, hello, world.
0:00:41 > 0:00:47Glad you could join us. An exciting show a head. For the first time
0:00:47 > 0:00:54India has jumped into 100 place on the World Bank 's annual rankings of
0:00:54 > 0:00:59countries of doing business in the region and the world, climbing 30
0:00:59 > 0:01:14spots. Is this a sign that the economics is working?Signs are
0:01:14 > 0:01:18definitely encouraging for the economy that has seen a growth
0:01:18 > 0:01:22falling for the last quarter and the worst performance in the past three
0:01:22 > 0:01:29years. What we have seen in the World Bank report is India has run
0:01:29 > 0:01:36up in ranking when it comes to paying taxes and the keys of paying
0:01:36 > 0:01:40taxes thanks to the online reforms from the government and protection
0:01:40 > 0:01:45of minority investors were India has shown a massive improvement which
0:01:45 > 0:01:54has held it to the scale of the top 100 club of growing economies also
0:01:54 > 0:02:00another area it has improved is the ease of access to credit. Permits
0:02:00 > 0:02:04are still required to start a business and this is where it
0:02:04 > 0:02:14falters. The report mentions the number of days it takes has come
0:02:14 > 0:02:18down to 127 to 30 days in the past 15 years and that is a massive boost
0:02:18 > 0:02:25but for that business to start the number of licences required, that
0:02:25 > 0:02:31still remains a worry.Still many challenges for the Modi
0:02:31 > 0:02:39Administration but how aggressive is Prime Minister Modi in pushing these
0:02:39 > 0:02:43reforms?For the government, it has been a silver lining because it has
0:02:43 > 0:02:51been under pressure after fall in growth, job numbers that still look
0:02:51 > 0:02:54relatively small and this report has not taken into consideration the
0:02:54 > 0:03:01massive tax reform of goods and services tax - uniform tax - across
0:03:01 > 0:03:04the country. Because businesses have been suffering will have to wait and
0:03:04 > 0:03:10see how that impacts the next report.Malaysia has been hit by a
0:03:10 > 0:03:15data breach and it is believed that the entire country, with a
0:03:15 > 0:03:24population of 32 million, might have been affected. What more can you
0:03:24 > 0:03:30tell us about this hack?The data of more than 46 million mobile
0:03:30 > 0:03:35customers in Malaysia has been leaked into the so-called dark Web
0:03:35 > 0:03:43and the population is about 32 million and this may affect the
0:03:43 > 0:03:49entire country. We also saw public websites such as the medical
0:03:49 > 0:03:57Association, dental Association, jobs through .com and even a housing
0:03:57 > 0:04:05website seen the data taken and posted in the dark Web. When first
0:04:05 > 0:04:09discovered, it found an individual trying to sell this for an
0:04:09 > 0:04:16undisclosed amount of Bitcoin. The data was compromised between 2000 14
0:04:16 > 0:04:23and 2015.Regulators and are investigating. The breach is a very
0:04:23 > 0:04:29deep and what can consumers do to protect themselves?Under Malaysian
0:04:29 > 0:04:32law is, service providers are supposed to keep data secure saw the
0:04:32 > 0:04:42could be legal repercussions. -- so there could be. Having compromised
0:04:42 > 0:04:47data is a serious threat, especially since criminals can use information
0:04:47 > 0:04:57for identity theft and fraud.Thank you very much. Technology executives
0:04:57 > 0:05:00have finished their first day of testimony on Capitol Hill in
0:05:00 > 0:05:09Washington. It is the first time we presented from Facebook, Google and
0:05:09 > 0:05:14Twitter have appeared publicly in a matter of Russian interference in
0:05:14 > 0:05:20the presidential election. Dave Lee described to us the mood at the
0:05:20 > 0:05:24hearing.It was a fairly uncomfortable ride for the three
0:05:24 > 0:05:30technology companies. They put on something of a united front stop
0:05:30 > 0:05:35they wanted to show the senators that they were capable, they say, of
0:05:35 > 0:05:39dealing with this problem on the rain and the problem is frankly
0:05:39 > 0:05:45enormous. Facebook has said as many as 126 million users may have been
0:05:45 > 0:05:54used. Google and Twitter also having widespread problems. They say they
0:05:54 > 0:05:58are going to enforce stricter policies, more transparent policies
0:05:58 > 0:06:08and that will solve this problem for a car in stock -- we are carrying.
0:06:08 > 0:06:16Senators do not seem as convinced. They are pushing for regulations.
0:06:16 > 0:06:21The company is of course do not want that.After these three committee
0:06:21 > 0:06:26hearings, at what do politicians plan to do with all this
0:06:26 > 0:06:32information?They are going to see at first the extent and what
0:06:32 > 0:06:38patterns have emerged that can be applied to protecting the integrity
0:06:38 > 0:06:43of future elections will the regulation I mentioned, there is a
0:06:43 > 0:06:49bill being at, the honest and, which would put in place some regulations
0:06:49 > 0:06:54particularly when Anand has been paid for by a political party but it
0:06:54 > 0:06:59becomes very complex. How do you know when a certain group is a
0:06:59 > 0:07:04political party. We are just starting to see the tip of the
0:07:04 > 0:07:08iceberg where we tried to see what regulation if any could be effective
0:07:08 > 0:07:15in tackling this. The tech companies think they are in the best place to
0:07:15 > 0:07:27do this.The reserve is in the middle of a meeting with many
0:07:27 > 0:07:32analysts not expecting a move in interest rates until December at all
0:07:32 > 0:07:39eyes on who will replace Janet Yellen with her term expiring in
0:07:39 > 0:07:46January. Jerome Powell is the favourite. He is a Republican.
0:07:46 > 0:07:53Another contender is John Taylor. His stamp that economists and always
0:07:53 > 0:07:58on the Republican list of potential fed chairs. He has never been given
0:07:58 > 0:08:09the job. Should Janet Yellen stay on?She should. Someone is credible
0:08:09 > 0:08:16as her. Important for this president. All the other candidates
0:08:16 > 0:08:21are either less credible in terms of the economic background or they are
0:08:21 > 0:08:27more or kitsch. However she is a Democrat. And President Trump has
0:08:27 > 0:08:33been trying to overturn so many things that Barack Obama did. The
0:08:33 > 0:08:38expectation is she's going to make it.One of the favourites is Jerome
0:08:38 > 0:08:44Powell. Why could he be the logical choice?Because he would offer
0:08:44 > 0:08:50continuity. He has been on the Fed board for quite well. He is not a
0:08:50 > 0:08:55well-trained economist and he is unlikely to drive a big change in
0:08:55 > 0:08:59opinion among the rest of the voting members. He will not influence of
0:08:59 > 0:09:05half the board who have Ph.D. Is in economics, for example. He will
0:09:05 > 0:09:09offer continuity and if you want low interest rates, which presumably
0:09:09 > 0:09:15President Trump wants, putting him in would be the obvious choice.Why
0:09:15 > 0:09:30it should John Taylor be the man?He is a huge figure. He looks at how
0:09:30 > 0:09:34far you are from unemployment target and comes up with estimates. This is
0:09:34 > 0:09:39called the Taylor rule and it is used by many central banks will not
0:09:39 > 0:09:46at some point. However the problem is, the rule tells you interest
0:09:46 > 0:09:52rates should be 2% above where they are at the moment clearly scare the
0:09:52 > 0:10:04markets.Bitcoin is getting closer to being recognised. A move could
0:10:04 > 0:10:11make the digital currency more financially mainstream. A quick look
0:10:11 > 0:10:26at the markets and most of Asia is in positive territory. Rising oil
0:10:26 > 0:10:32prices have helped. Have a wonderful Wednesday, everyone.