And background on all our top stories on the bbc news website. Log on to bbc. Com news or download the bbc news app. Now live to singapore for Asia Business report. Facebook underfire. Facebook under fire. Us facebook underfire. Us politicians label the social network delusional and not deserving ofjust over its cryptocurrency initiative. Resignation from the imf, her decision to become the head of the European Central bank. Good morning, asia, hello world. Its a wednesday. That you could join us foran its a wednesday. That you could join us for an exciting addition of Asia Business report. I am rico his own. Lets start off with facebook, the social media giants plans for cryptocurrency has come under further attack by us politicians. The latest comments follow criticism by president trump, the treasury secretary Steven Mnuchin, and jerome powell. Appearing in front of the Senate Banking committee, facebook executive david marcus defended this project. I believe that if america doesnt lead innovation in Digital Currency, and payments areas, others will. If our country fails to act, we could soon see a Digital Currency controlled by others, whose values are dramatically different from ouis. Are dramatically different from ours. I believe that liber can drive does it have changed for many people and provide an opportunity for leadership consistent with our shared values. North america reporter dave lee told me what else we learn from this hearing. Reporter dave lee told me what else we learn from this hearingm wasnt a particularly comfortable hearing for facebooks david marcus, ican hearing for facebooks david marcus, i can tell you that. There are two issues here at play, one of them is that he is about Digital Currency in general, whether it is going to be used for illegal purposes, money laundering, buying of drugs and so forth, but also the secondary issue which affects facebook specifically is Justin Facebook which affects facebook specifically isJustin Facebook itself. Senators called it delusional the company would think people be willing to trust them with their Financial Data and they criticised the firm by having the past 18 months of apologies and promises to do better. There is real worry that facebook has so much on its plate already to fix with this Company Bringing on another huge project like this might be another step too far. In response, david marcus from facebook, he said they arent going to do anything thats going to be without regulatory approval, but it looks like their goal of launching this next year, 2020, could be slightly ambitious. They got a lot of people to convince before they can really let that go ahead because in washington, this is one of the few bipartisan views in washington, there is real worry about the power of facebook and other tech giants. And launching a cryptocurrency would give facebook even more power than it has today. Earlier i spoke to a Cyber Security firm manager. Cryptocurrency is a now a rural nextep for the Digital Economy and we should embrace the new Technology Next step. I know there is complexity, but it is those unknowns in complexity that propels innovation. That is the unknown that Steven Mnuchin is talking about that could be used not for good but for bad. Quoting him, he said a lot of players use cryptocurrency is to fund their malicious activity and thatis fund their malicious activity and that is a National Security threat. What is your opinion on that . Unknowns can be leveraged by both sides, definitely. But unknowns are also the Fertile Ground for us to think about how to move forward and the whole world has gone through so many different crises which have given birth to opportunity. For Cyber Security and looking at the last few years, privacy issues have really bring everybody into this debate. Why should facebook be in this business . I am hoping the lessons they learn from the privacy concerns that people had on this event would give them really the wisdom to design it with the right security. With so much pressure from the white house and from leaders in the white house and from leaders in the Federal Reserve and capitol hill, could facebook crumble under pressure and just totally give up libra . I think the innovators actually welcome pressure. Pressure actually welcome pressure. Pressure actually gives us more motivation to do things better. I certainly hope the whole technology, notjust facebook, as an ecosystem brings together, all teams up and makes it better and more secure, make it better and more secure, make it better for everybody. The whole problem is about connectivity, better access and easier commerce across borders. I think those problems when solved can help humankind and make society better. Christine lagarde has announced she will be stepping down as managing director of the International Monetary fund this september. The move comes ahead of her nomination to be the first female resident of the European Central bank. As head of these National Monetary fund, Christine Lagarde was pretty unique. The former french finance minister was the first female to lead the globalfinancial was the first female to lead the Global Financial institution, which a cts Global Financial institution, which acts as a lender of last resort and provides economic guidance to governments around the world. Under her leadership, the fund successfully helped its members navigate a complex set of challenges. From the Global Financial crisis to its after shocks. Now it appears she is headed to the European Central bank, whose responsibilities include setting the eurozone Interest Rate and ensuring the stability of the banking system, no easy task, given the divisions tween Member States and the need to boost growth in europe. If confirmed, both the ecb and americas Federal Reserve, the us central bank, will both lead by people who have no academic Monetary Policy background. Her resignation also comes the day before g7 finance ministers meet in sean kuraly in france. It will no doubt be the starting gun to find her replacement meet in france. George osborne and french politician pierre moskowitz you seem likely contenders. Whoever succeeds may have a tough time preserving her legacy at the imf. Many businesses have jumped onboard legacy at the imf. Many businesses have jumped onboa rd the Sustainability Movement to shrink their carbon footprint, but some Green Alternatives can be more costly. In singapore, one microbrewery is teaming up with a local start up that uses a local insect that is ready to do battle for the environment. Monica miller sent this report looking at the future of food. The recipe used to make perfect beer is a mix of science and art. The brew master of one of singapores the first micro distilleries spends hours mixing mould, hops, yeast and water. Malt, the result is 500 kilos of spent rain from the brewing process. We had to pay to throw it away. But one persons trash is another persons treasure. About a year ago, a local start up called insecta said they would take it off their hands defeat a local species. They would take it off their hands defeat a local specieslj they would take it off their hands defeat a local species. I was like, what is that . You are rearing black soldierflies . What is that . You are rearing black soldier flies . They were like, what is that . You are rearing black soldierflies . They were like, yeah they take one metric ton of parent mash to a vertical insect farm on the tiny island city. Insecta uses the tiny island city. Insecta uses the black soldier fly larvae to feed fish and birds as well as turn it into natural fertiliser. Fish and birds as well as turn it into naturalfertiliser. The fish and birds as well as turn it into natural fertiliser. The love they can eat four times their body weight a day and it can eat all types of food waste. This is where the magic happens. After the black soldier flies become adults, the magic happens. After the black soldierflies become adults, they come here and mate, creating about 600 800 come here and mate, creating about 600 800 eggs they arent long for this world after that, 5 seven days later they die and are composed. While they may have a short lifespan, the species can potentially make a large contribution to society as a alternative to traditional animal feed which require hundreds of acres to cultivate. She learned on the job and wasnt trained in agriculture, she learnt on the job and through the internet. Theres a lot of trial and error. Its still a very pioneering industry. But is insect farming afad, pioneering industry. But is insect farming a fad, or is it here to stay . Some experts say we have no choice but to think outside the box. I hope that consumers will be more willing to try out these alternatives because eventually we will be running out of traditional food sources. Singapore isnt the only country to receive the wake up call to consider other packages. Practices. Black soldier farms can be found all over the world. While the industry is made of pioneers, their work could pay for the generations to come. Mark miller monica miller, bbc news, singapore. Here is a quick recap of our top stories this hour. Criticism of facebooks plans for their new cryptocurrency, libra. Facebook executive david marcus defended the project. Lets have a quick look now at the asia pacific markets now and how they are faring in early trade. Currently all in negative territory with the nick shady lower, as with the lords take a look at the nikkei. ,as the lords take a look at the nikkei. , as are the lords. All ords. This is bbc news. The top stories this hour in washington, the house of representatives has voted to condemn president trumps racist tweets. Four republicans backed the motion with feelings running high. At least 180 people have died in torrential monsoon rains across south asia. Millions more have been left homeless. 50 years ago today, apollo 11 blasted off from the Kennedy Space centre in florida. Then, new generations of scientists have been pushing base exploration forward. Among them, a group in surrey who have done more than 50 Space Missions in the last three decades. Marc ashdown has their story. Not as the land on the moon, but this is the science uk scientists are pioneering. Ways to clear space junk which is threatening future missions. If we do nothing, there will be a catastrophic cascade of collisions of space objects. The debris from that will cause even more collisions. It simply, they are going to sing. There we are. A net at the end can help clear a path through the debris for further space exploration. We are at the second space race and we are back in the race to the moon. By the 20 30s, we could expect to see International Groups landing humans on the moon. Lift off stop the idea is to live there and go beyond. There is water on the moon, water to drink, through electrolysis which you can bring into oxygen. So you would have air to breathe, and the oxygen is rocket fuel. So you could use that to further explore the solar system. The moon exhibition at the National Maritime museum is one of the events marking the momentous 50 Year Anniversary with 180 objects, a rtefa cts a nd anniversary with 180 objects, artefacts and memorabilia on display. It shows our fascination with our closest companion has never dimmed. We havent stopped exploring the moon. Weve been looking at it through telescopes, robotic spacecraft and everybody can have a look at the moon in the sky, there is still that. But we are starting to feel a swell of possibility again in being able to go back to the moon. These concept designs show what a future lunar base might look like, most likely built under the surface to survive in such a hostile environment. These countries are planning missions. Its very ingenious, sorrys done more than 50 Space Missions in the last 30 years. We have helped revolutionise space. Mark ashton, bbc news, london. Hello, welcome to sport today, live from the bbc sport centre. Coming up on this programme the big names in golf prepare for the open. Can tiger woods summon up some masters magic at the final major of the year . Theyve got their man matthijs de ligt is set to be presented as a juventus player after arriving in turin. And jofra archer can deliver for england in the ashes the verdict of one former captain, impressed by the bowlers performances in their world cup winning journey. Manchester city have finally arrived in china for their pre season tour after delays forced them to fly two days later than planned. The premier League Champions had an open Training Session in shanghai. Theyre taking part in the premier League Asia Trophy alongside west ham, wolves and newcastle. Welcome to the programme. The worlds best golfers are settling in on the antrim coast in northern ireland