Have seen so far this year. The countrys biggest corporations are seeing opportunities in all of this. What is going on . Theyre buying back shares, rish. Index, for example, though worst performer this year. It comes amid a rising stock market globally. The index at unprecedented highs. Decay to 25 down by five and a half percent. The weaker yen is also having an impact. This year, not as much. What we are seeing is the major japanese corporates. Toyota and mitsubishi corp. Buying back 25 billion worth of shares. What it has done is led to an increase in terms of investor perceptions, foreign investors, and at the market declines. Share buoyed their prices. We have a 5 decline for the nikkei, but some of the stocks are up more than 5 on the year, a very interesting move, indeed. Buybacks do boost the appeal of these japanese companies, i guess, for investors. Why . Return equity is what i am talking about. Additionally, that metric has lagged in japan. They havent had a strong r oe compared to other developed markets. What is missing is cap fax. The need to be more Capital Spending as well as how to be russians toward wages. Listen into what some economists are saying. It needs to give its workers a pay increase, because we really have to arrest this decline in real Household Income if we are going to afford sustainable improvement. There is Capital Expenditure going on, but it is going on outside the borders of japan. They relocate production activities in emerging Southeast Asian economies. It is happening in places like South East Asia but not in the home market where they would like to see it right at home in japan. Thanks for that. And wealking about japan also have that open here in hong kong. The head of that, lets have a look at those Japanese Equities and take a look at australia while we are at it. Here is john dawson. Forums are really quite low. High re really volumes are really high in the u. S. Japan evenarkets in though the yen is quite strong, up by one third of 1 in malaysia. Chineseforward to the crucial 49. 7. Japan. At stocks in for example, we have the overnight deal of al to him being bought by general electric. Alstom beingeham bought by general electric. Are alsoso involved with hitachi and toshiba sharing a slight decline. Also have this report of a a pinball tax theyre calling it or slot machine tax. Sammy isee that sega up by 3. 2 touches down by 3. 2 percent. Those are examples of stocks that have seen declines. Stay with the japanese story. The yen is 102. 10. Dollar yen trading quite low. Nevertheless, and corporate japan, the day there is the ge story and the pinball tax stocks. Thanks, john. Chinas biggest oil and gas reducer. Chinaorders are finding National Petroleum corporation miscalculated their gas sales and also fails to report a gas project on time. There is a gas Storage Facility in the northeast without permission. Their private survey adding to the picture of a deepening slowdown. This is the china beige book. It says Capital Spending weekend and fewer Companies Applied for credit this quarter. The government will make adjustments to meet the 7. 5 growth target. Be partially to blame for the lane crash in seven cisco. Theyre debating whether the design on the automatic throttle confused, leading to a series of errors. A final decision is expected tuesday. The plane a seawall at the end of the runway last july. Three chinese teenage girls were killed. Government will try again today to get rid of the carbon tax. It will be reintroducing a repeal bill to parliament. Lets go to sydney and paul allen. Does the Prime Minister have more confidence this time . He is giving that impression, anyway. I think it would be safe to say you wouldnt be trying again if he wasnt confident. The greens dominated senate was in no way going to repeal the tax. We have a new Senate Getting its feet on the table on july 1. Was arbon tax repeal central part of his election campaign. Tony abbott claims he has a mandate to get rid of that carbon tax, although it is a point of conjecture whether the people voted for that or whether they wanted to get rid of the dysfunctional circus that was the government we had the six years preceding. Wants to have it removed. He says it is a huge burden on the economy and jobs and costs the average family 500 dollars per week. He will still need some help in this new senate. , Clive Palmers three senators as well as ricky meurer of the motoring enthusiast party. It will hinge on them. Clive palmer has a famous vendetta against the liberal party in queens land. Tois mercurial and given mood swings. The stage is set for some pretty interesting horse trading in the senate, rish. We are having a look at the wider implications for the foreign exchanges based on what is happening in iraq. This is on the move. Back in a few. This is what we have, just slightly over 102. Weve had a good year for the korean currency this year so far. Turn our attention to what else is going on. Start stop we can without talking about oil. How important are these factors . I think it will depend on what currency youre going to talk about. It is a negative for Financial Markets, but i think there are currencies that have more of an issue due to oil imports and oil prices. Yen, indonesian rupiah, these are going to be the ones that will take it on the chin. Crude has stopped at 113 or thereabouts on brent. Alarm bellst the off . The current level is probably a little less comfortable for those currencies. Higher in crude will definitely be an issue. Then youll have Financial Market players taking greater aim at these currencies. Janet yellens comments as well. We keep on talking about this all the time. When will we get Dollar Strength . T just doesnt appear it is almost nil compared to where it was during the taper tantrum last year. This shows the taper is well priced in. I think we will have to wait until the end of the year until we see the taper. Then you can start concentrating on oil. Then we will have endless talks about the rates going up third we will have endless talks on this channel. They will have to change the rhetoric quite hawkish leak and signal to markets a timeframe. Then you will start to see the impacts on fx and Dollar Strength. You get 3 or 3. 5 on the year. That will also become more dollar positive, right . You see a breach of that 3 level. So when you see shorter term yields higher, that is a lot more over the movement will be. It will be an issue. Before that, it will probably be range trading. Sterling is moving up for a well. Ahead of the curve in some ways. We saw the inflation data of canada giving a boost to the Canadian Dollar as well. Then we look at what is happening in the euro zone and the possibility of some form of qe. Probably going to see a couple months of waitandsee to see how the most recently announced measures have been taken up and how they are impacting yields in the economies. Andre still euro bears rethink it will be 1. 30 by the end of the year. That is a difficult call. I would say trying to predict where the euro goes is a job i would not like. We seem to have settled down. Is this a ceiling where we are at . We will need a catalyst. I think of it as coming from the u. S. Point of view. We need that sustained move. Have to see something more substantial as well. Do you think the bank of japan will increase the Monetary Base . I think it is still wait and see. Wes far, doesnt seem like should expect something in the very near term. What are you liking at the moment out there . Malaysian bulla for some time. For the ring in terms of the performance. The oil balance has turned around and it is probably neutral to fairly positive. Other fundamentals are looking good. We have a more hawkish central bank. In the terms of trade, things are looking better now. Thailand, its neighbor to the north, with military the bank of thailand not doing anything. Some are saying maybe it will raise rates. Still a thai baht there. There is a lot of pent up demand there on investment imports. That will hammer the trade talents. It probably will not be covered by the delayed portfolio influence that we saw coming back in. I am still a bear on the b aht. There is a little matter of an election, isnt there . It is not looking all that clear cut. That is the problem. Still looking like the favorite, but what kind of parliament is he going to govern over . He will be a lame duck, anyway. Andndonesia is a big unwieldy country. Be able infrastructure to help the currency. I am a little bit skeptical at this point. Great talking to you, sasha. Is talking about the machinations of foreign exchanges. After the break we will meet an artist who has made big eye staying small. This is on the move. It day by made staying small. This is on the move. Israel has carried out a series of airstrikes in syria. The idf says nine targets took direct hits, including a military headquarters. A 15yearold boy died. Others were wounded after what was described as a projectile was fired from the Golan Heights on sunday. Russia supports the ceasefire in ukraine and is called on both sides to end the increasingly violent unrest. Said any putin solution must guarantee the rights of russian speakers in east ukraine. Separatists have declared independence and asked to join russia. Korean troops have exchanged fire with a soldier who killed five of his comrades on the weekend. The man is surrounded in words about 10 kilometers from its border post. They say he is a sergeant and his armed with grenades and a rifle. Seven other soldiers were wounded in an incident. China has reaffirmed its policy ondirect negotiations maritime disputes, rejecting inational calls for the most recent standoff, hanoi claims a chinese ship rammed and sank a fishing boat near an oil oil riggingnd an boat. Korea was crushed in a fourtwo defeat in porto alegre. That leaves him at the bottom of group h with just one point. To the usa ando portugal playing to a dramatic drop in manaus. Portugal equalized with the very last kick of the game. Movie special effects create a special experience for viewers. For one artist in los angeles, the eye is her canvas. Bloomberg is having a look. There is a long line of artist in my family. I started drawing when i was a little kid and i pick up a pencil and brush and start doodling. As a got older, i kept with it. Older, i kept with it. I aint contact lenses for film and television. People say, somebody does that . Well yeah, somebody has to. It was a complete fluke. I was working with a Makeup Artist and they would occasionally go to set and take and put contact lenses in. I tried it out and i was hooked. A very small canvas. A tiny, tiny campus. I have to use very fine, fine brushes, a few hairs, basically. It is a process. It takes a few hours and sometimes a few days to complete , depending on what the design is. Size covers your pupil and your iris. The ones that cover the white of the eyes are called scleral contact lenses. The whole i is yellow. You may want a bloodshot or hemorrhage lands, someone has been hit in the face few giant films like pirates of the caribbean. Her Makeup Artist showed me a rock. It had all of these flecks of different colors in there, blues and greens and pinks. Basically, i tried to incorporate all of those colors. Nto that lands lens there are only a handful of us, less than 10, i think. Great thingsmany about this job. I am an artist and i get to paint for a living. To see them finish their makeup and put in the contact lenses, everything comes together in the finishing touch. It is the cherry on top. Sony scored another box office hit, think like a man too. The film stars kevin hart and is sonys second number one debut following 22 jump street. Still to come, we have the latest on this worsening situation in the middle east. A closer look at the fallout coming through on Power Companies. Day getting underway in hong kong and shanghai. Important data points were looking out for today include china manufacturing reports, also the United States doing similarly and the eurozone as well. That is what we have at the moment. Overall, the markets should get an idea of global manufacturing, how it is doing. As we say, we have that manufacturing data out of the eurozone. Trading, up by nearly 2 10 of 1 . Oil rising for a third day. Insurgents gaining ground in iraq. The ability to fight hackers is being questioned. Tourists are flocking to japan like never before. Out,manufacturing data giving us an idea of what is happening with the economy. We have the open here in hong kong. We also have the open at shenzhen and shanghai. China is opening unchanged, hong kong is the same. Forecast will be 49. 7. We have about 50 minutes time from now. Volumes are really very low. Its gains has lost after a fourmonth high. Malaysia it is pretty bleak. There are clouds over there and targets. And darkness. Iraq violence intensifying. Ukraine and russia intensifying. Is the u. S. Economy really recovering . That is the story as regards ,hat. Individual stocks today as i mentioned before, japan inc. Is very much relevant. Today, we wake up to the ge story. Ge has made its biggest acquisition ever. The french government given the goahead. Give it the goahead. Toshiba and hitachi lose out. They were making a counter bid. How much money would cost to do it . Meanwhile, the japanese introduce a cut to Corporate Taxes. How else to the get the revenue back . If you give with one hand, you must take with the other one. Therefore, by looking at the we look at the opening prices. Here are the stocks were watching today. Which stocks are falling and rising the most . He biggest gainers unicom to nukea and cosco pacific, and cnooc. Those of the decliners in gainers. Hsbc manufacturing figures are out this morning. The latest developments out of iraq. Militant forces along the borders. Felt to of most will insureds to insurgent hands about two weeks ago. Boko but is just 55 kilometers from baghdad. It does come as baghdad released pictures showing the Iraqi Air Force patrolling the countrys biggest oil refinery. Sunni militants are seizing part of the Energy Complex and holding the army off ever since. The refinery covers several square kilometers of land. That has not been affected year. Crude has been on the rise. Costsill slightly raise for global utilities and not least the asian one. Hereberg Industry Analysts with more. This is bound to happen. What is the biggest challenge coming out of here . Basically, gas prices in asia pacific are connected to oil prices. Theres always a lag effect. The danger now is that with the Geopolitical Uncertainty that is ng on in iraq, continuing or prices will continue to go up and so forecast will slightly go up. Ultimately, it means gas prices will go up. Gas prices going up is bad for most utilities in asia. About you see many countries cut gdp forecasts. However affect these companies . Market forecasts for gdp for most countries except for a couple exceptions like japan, are coming down. Countries like china, you have a oneonone relationship. It is about half the rate. Gdp is important. We can to us about what expect and how it hits us in the pocket. Oflities will pass on some the costs to the consumer. In most countries, rish, prices are expected to go up. Utility prices have to come up. Those automatic passthroughs in places like hong kong and japan, the passthroughs is considered an moldova in places like korea ulled over in places like korea. Would mean that they would delay them, or would it be full steam ahead . Ipos coming a few through, especially the big Chinese NuclearPower Companies that want to list on the stock market. Obviously in a week equity et environment they may joseph, thank you so much for that. Lets have a look at singapore, because it is making headlines after suffering several highprofile cyberattacks. Lets find out more. Were joined now from singapore. Tell us more about this. That is a huge demand for people with skills to fight a small pooln that of them are stretched. Cyber security is a growing concern. We need protection even more. We need a defensive system to detect and respond to cyber threats. It is disconcerting that the number of Cyber Security professionals is falling. Now it, we had 1200, and is down from 1500 from the year before. In the meantime, there are more threats. Client data was stolen in singapore. More than 1500 accounts were compromised, as well. Hackers are getting smarter. In the past they used emails for malicious attachments. Now they research their targets. Their attacks are more targeted. What is the cost, so far . How do we evaluate how this is all playing out . What to know about the damage is being done by the cyberattacks . Fair to say, these attacks are expensive. Cyber crimes cost singapore an estimated 1 billion. To put it in perspective, the g 20 nations bear the brunt of the cost. The worlds four largest economies, were talking about the u. S. , china, japan, germany, they collectively lost 200 billion. Needless to say, more needs to be done. The World Economic forum says delays in adopting Cyber Security measures could result in a lost of 3 trillion in economic value by 2020 locally. The problem remains a lack of awareness. Online threats have become more sophisticated, but organizations lack the awareness and urgency to deal with the problem. Thank you. Singapore becomes a victim of more and more of cyberattacks. Japan is on course to welcome a Record Number of foreign visitors this year. More tourists are arriving the japanese are traveling. The first time that is happened in 44 years. Obviously, this is down to the weaker yen which is trading at a 30 discount if you are a foreigner after what it was a year and a half ago. It is expensive to visit japan in the first place. Give orat helps take a few percentage points. Japan is traditionally an expensive place to visit. It makes sense that you would see an increase in Foreign Tourists given the fact that is is more affordable. The main Tourism Corporation sees 12 million visitors in japan. That would be a record in 2014 and the First Time Since 1970 that the number of inbound tourists is more than the number of japanese going abroad. The japanese are voracious travelers. Youre likely to run into japanese tourists anywhere in the world. The camera is surgically attached. Seeow youre more likely to chinese and koreans and many others among them. The fact is that with abenomics, there has been a concerted effort to grow the number of tourists in japan. It all comes with an economic benefit as well. I was reading the other day that what is also helping is that it is hard to get a visa. They have loosened up those requirements, havent they . Their loosening the visa rules because the Huge Consumer potential for tour groups coming from those countries, lets not forget the discount air carriers flying between jakarta and tokyo , vietnam and tokyo, for example. The goal by the way administration is 30 million visitors. You can bet, along with this , youase or lax visa rule see things like dutyfree shops, for example. Those are expected to grow exponentially in number. Heardnks a lot for that up next, we will have a look at latest chinese manufacturing. That should be breaking on the other side of the break. Thea economists, this is move, stay with us. Lets check on the markets. Lets have a look its at sweats going on in tokyo. 403. Stocks areapacific experiencing a few bumps on the road. Singapore is marginally higher. Manufacturing reports of the United States and out of the eurozone as well. China numbers are out for a shortly. We will be looking at that as well. Just ahead, news from the world cup. Greece is winning in the price of a beer. Greeces game is a must win or lose her last in this world cup. Or a draw and they are on their way home. Their big winners when it comes to the bar. Why . The greek fan is able to buy 2. 5 times as much beer as they would at home for the same money. Reports are carried out annually in march and september. And the numbers are based on a ottle of 500 milliliters defense can drown their sorrows without feeling too ripped off. Three brazilian beers for two english beers is what it costs. Cheaper than buying a home. Who is the big loser . Ghana could be that because unless they can salvage a win against portugal on thursday, losing to the u. S. In their opener and a tie against mighty germany in the second leaves them with only one point. One beer does not come cheap. Anaian supporters spend at least 60 more for a beer. Greece tops the charts. And others cana celebrate or commiserate without too much of a whack on the wallet. After ghana, it will be an expensive world cup for honduras, bosnia, croatia and spain. For Will Champion spain, it has been a very costly experience. I am john dawson. Some breaking news coming out of china. Data coming through. This is the first look at june. Above 50 indicates expansion in anything below is contraction. Of 49. 7, but we got a number of 50. 8. Lets get a reaction. John, thanks for joining us. I think it was fairly broadbased. It was a strong rebound in output. Acceleration in new orders in general. Overall, it seems the economy has turned a corner. Wasnt it that bad before in the first place . That might be down to inventories, as well. Inventories number actually continued to contract this month. On the whole, was it mean the numbers have contracted . It is good Going Forward. It suggests that manufacturers can increase out put if the market continues to sustain its current rate. It does seem like the president s promise that it will not be a hard landing is probably ringing true. It is a good sign that we have turned a corner. It is still early stages of the recovery. There will be questions over the sustainability and the general strength of the recovery. Not least what we have seen when it comes to the reserve requirement. Interest rates proper which could be used here as well. For now, theyre going to want to see whether the data matches the indicators. Theyre waiting for a few more data points before and seeing what else they should be doing. On the whole, youre right heard you have a lot of policy options. In with what is happening with the credit data, as well, for may. Some easing is taking place there, but tell us more about it. Thehe trend has been that pboc has been trying to make sure liquidity is ample in the system. For now, you have had a series of partial rrr cuts. This applies to more banks through out the monetary system. Again, it is in the trend of finetuning and many stimulus. Nothing overaggressive from the authorities. Ell probably have to see otherwise they would have to keep that on the Balance Sheet rather than actually lending it. It amounts to the same thing in some ways. The cumulative impact that youve seen for the past couple of months has grown substantially. It is going to be a while before data. There tends to be a lag. There could be more to come, i think. There is some Downside Risk specifically in the property markets. Looking at the currency, do you think it is fairly valued . I think it is. , iterms of the volatility is. Some people have cited the Housing Market as a biggest headwind for the economy. Is it something you would go along with or is this being blown out of proportion . There are certain signs that housing prices and housing sales are coming down. Also, construction and construction investment is on a downward path. Stimulusew, the many has been focused on infrastructure. Theres more room to be done there. Thank you for joining us. On the a figure manufacturing data. , thef china for this month number is not complete. We will get the proper number at the beginning of next month, but it was 50. 8 as opposed to 49. 7, which is what economists have been looking for. Still on the way, the winners and losers at wimbledon on and off the courts. Wimbledon starts today and we look at the awards on offer when the move returns in a couple of minutes. Wimbledon kicks off today. Defending champion andy murray would face off against a belgian opponent. Look at all the money involved for the tournament winners and the losing players, too. Sent of onee the rise particular homegrown player, it is even more of a battle for tickets. Elected here, it is peaceful, he does not get bothered by members when he comes here, so you can practice. Tickets to see andy murray will cost nearly twice as much. From 20112015, it cost 47,000. Now, it will set you back 80,000. The money is being used to help clean up the club. And million for a new roof landscaping. Fans should be happy and players have a reason to be happy, too. This year, they will be paid 45,000 for the privilege of losing in the very first round of wimbledon. From 2011. Rise it is a lot of money. For the last three years we have been trying to emphasize increases in prize money and targeted those players who we believe needed most. To reach the top echelon is a long and difficult road. The bills add up. When traveling, coaching and taking into account, the annual account the annual cost of playing tennis can be as much is 143,000 according to one study. How do they afford such general fees for losers . Rightsing broadcast before sponsorship. I am sure we could make more money in the short term if we accepted some of those offers, but we would ruin the brand and ruin wimbledon forever if we did so. So we are not planning to. Brand wimbledon has much to thank for its past. It success now relies on not upsetting the status quote. Caroline hyde, bloomberg. Wimbledon starting off today. Up next, a detail on manufacturing in china. On the move coming to you live from hong kong. China surprises again. Attacks andces hack its ability to fight back has been questioned. Japans own version of gambling. Stocks losing out in tokyo today. Is [indiscernible] lets kick it out to john dawson. We have an aussie dollar that reacted to all of this. Area. 8 is the crucial hsbc pmi manufacturing forecast for june was 49. 7. That is the real figure. Significant gains for the hensing. For the hang seng. China show you the composite and i will also show you the aussie dollar. Just marginal. It was down just before the reading came out. Aussie dollar, lets look at that if i can. There it is. They do rely on one of the whicht export markets, china is quite crucial. China has an impact on the aussie. A bit stronger. There you see the impact. An immediate jump there one third of one percent. That is the impact of pmi from hsbc. Also, again, the map, china is up above the gain line by a third of 1 . So is australia by two thirds of 1 . To a strongn reading in pmi, about 50. It is a good sign. When the full number comes out we are nearly in july. Investors have been shunning equities so far compared to the gains in the nikkei. Well,es come a bit corporate japan getting into the mix, seeing more opportunities. Seems invoke to do so. To the tune of 25 billion so far. Mitsubishi corporation as well as toyota. The thinking is, as the japanese market severely lags the other developed markets, the worst performer this year, the companies are buying back shares. That boosts their share price in a declining market. And they are getting then cheaper, too. And that makes them more attractive to International Investors who have pulled out of the market. This is something were watching very closely given the fact that japan has underperformed this year. The companies that have announced buybacks, they have registered a gain, an average of about 4 . That is set to continue. Interesting, clever strategy that these companies are using and it is happening all across or per japan. Tell me about the buybacks. What theyll to milley do is increase the attractiveness what they ultimately do is increase the attractiveness. Historically, japan has lagged behind other markets in terms of return of equity. So this boost makes them more share. Ive and a higher they are not investing in organic growth or in existing businesses. Something thato is increasingly being focused on in japan because they have not kept pace. Is a payt needs to do increase because we have to arrest this decline in Household Income if we are going to forge a standard improvement. Last year, topix companies was up 69 . Those countries use the cash to build a defense wall, if you will, to prevent a future lost a decade. Government, the bank of japan, they dont want see that. They want to see prices rise. Japan is poised to attract a number a Record Number of foreign visitors. Visalso some easing of rules. Japan recorded a net gain in became revenue since abe Prime Minister. Kdbi says a letter group is investing [indiscernible] japans government considering a new tax on slot machine games. Would cover lost revenue from a planned Corporate Tax cut next year. Lets have a look at any impact that might have on these pachinko makers. Government giveth the Corporate Tax cuts and again take them away. , pinballg companies makers, they are taking a bit of a hit today, one of the biggest declines on the topix. Sankyo down by a third. Heiwa isell and the biggest decline in. Do watch out for that. Pinball makers are seeing declines across the board. Lets move to some stories making headlines around the world. Forces claiming to take control of border crossings to jordan and syria. They now control a string of towns including 155 kilometers from baghdad. Is sendingking 300 military advisers. Nine targets took direct hits. And hisearold boy died father and another person were wanted by what is described as a projectile on sunday. Russia says it supports the ceasefire in ukraine and calls on both sides to negotiate an end to the increasing unrest. Putin says they of russianthe rights speakers in ukraine. China has reaffirmed its policy of direct negotiations on maritime disputes, rejecting calls for international arbitration. Beijing says it will uphold its territorial claims, for the raising tensions with japan, vietnam, and the philippines. Hanoi claims that a roo that those. Rammed one of singapore has been suffering highprofile cyberattacks and its ability to fight them seems to be questionable. Tell us what how big a problem this is. Can you believe it . We do not have enough people with the skills to fight hackers. Just a small pool of them. Cyber security a growing concern, a huge challenge in singapore. The government linking public facilities infrastructure for realtime data. So we need protection even more. We need a defense for my system to detect and respond to cyber threats. Last year, we had 1200. The year before, 1500. So there is a drop. In the meantime, there are more threats. We had the Prime Ministers website being hacked. Sayingp sing pass breached. Ahead what do we know in terms of the cost of this . Its costly. Its expensive. These cyberattacks are expensive. Cyber crimes cost singapore an estimated 1 billion. But the g 20 nations bear the brunt of it. The world for largest economies, the u. S. , china, japan, germany, they collectively lost 200 billion. Needless to say, more needs to be done. A note of caution from the World Economic forum who says that delays in adopting Cyber Security measures could result in the loss of 3 trillion in economic values by 2020 globally. The problem still remains a lack of awareness. Have become more sophisticated but organizations lacking the awareness, the urgency to deal with the problem. Thanks. Up next,inued china continuing to surprise. After the break, we will assess what it means for growth as we approach the midpoint of the year. We are back and coming to you live from hong kong. This is on the move. The on the move. A another step closer to the biggest acquisition ever conducted. During the last hurdle. In its 17 billion bid for m fulfilling a condition by france sealing the deal. Going to try to get rid of the carbon tax by a repeal bill to parliament, a plan to scrap the levy has been stalled in the senate which has the power to block and amend legislation. Prime minister tony abbott repealing the tax says it would help the typical household say 500 a year. Crude on the way up at the moment. That may raise the cost for asian utilities. Of the the conflict middle east playing out affecting utilities as their bills continue to rise. What have we got here, joseph . Aboutare really concerned sure costs. It is a major cost of the end of the day. Similar coal prices are expected to go up year on year. Oil actually is not a major fuel. Its links to gas its linked to gas. Exactly. There is always a lag effect. If the Geopolitical Uncertainty continues or gets worse in the middle east, Oil Price Forecasts will come out and gas prices will come up as well and utilities will have to bear higher costs. Several cas are seeing their forecasted gdp cut several countries are seeing their forecasted gdp cut. Gdp actually drives the volume in emerging countries. The relationship is 1 1. Right now, forecasts are coming down. That doesnt bode very well for volumes. Somebody has got to pay for it, right . Its got to be you and me at the end of the day. Yes. [laughter] but in japan, for instance, because of the lack of nuclear, it will affect that country quite drastically. Yes. But ultimately, it is the consumer who will have to fork out more and could lead to inflation as well. Exactly. More and history more importantly, industrial users. All the Nuclear Reactors are down and the timing as to when they are coming back is very uncertain. Typically, it doesnt have a straightaway or overnight. Utilities agreeing certain prices for certain lengths of time. It actually can result in quite a rude shock and not a gradual one. That is possible as well. Lets talk about ipos. Do we have ipos taking place . Does it hasten the progress . Or does it mean. Ahead . Or does it mean full speed ahead . Front,he Nuclear Power chinas biggest developers, one look one listing in hong kong and another looking to invest in china. Obviously, you are going to have some uncertainties. Equity markets are not buoyant. But ipos is one of the things that we will see. The appetite [indiscernible] oil will have to go a bit higher before bells start ringing properly. 114 on brent. Yes. What we look at his trend. Upward trend means the index could actually come out. It is more the trend creating uncertainty and that is share prices. Thank you. There is often wanted painting than meets the eye. We will meet an artist who has made it big i staying small by staying small. Createe special effects a more than meets the eye experience for the viewer. For one Los Angelesbased artist, the eye is her canvas. There is a long line of artists in my family. I started drying when i was a little kid. I started picking up a pencil and a brush and started doodling. As i got older, i just kept with it. Meet random people and they say, oh, what do you do for contacts i say i paint. It was a complete flip of working with a Makeup Artist a contact lens technician. I was hooked. It is a very small canvas. Very fine, fine brushes, a few hairs basically. Takes a fewess that hours, sometimes a few days, to complete, depending on what the design is. The cornial and the retina and the iris. The grinch, where the whole i is yellow or a hemorrhaged lands, somebody has been hit in the face. A huge on a depth films alice in wonderland, pirates of the caribbean and i worked with Angelina Jolie for a couple of her shows, including maleficent. Showed me aartist rock and it had all these flex of different colors in there, blues and greens and pinks. Basically, i tried to incorporate all of those colors into that lens. There is competition. Us, ais only a few of handful, less than 10, i think. There are so many things i love about this job. I get the paint. I am an artist. I get to pay for a living. To see them finish their makeup and put in the contact lenses, everything comes together as the finishing touch. Its the cherry on top. Has producedidson a green bike that runs on electricity. Cool look at some of the him a clean ride you may well enjoy. Data Shows Chinese manufacturing on the up. The hang seng headed for its highest close since january. Ofni militants in charge iraqi borders, at least some of them. And the world cup of beer shows unexpected [indiscernible] latest developed out of iraq militant forces claiming to control border crossings with jordan and syria. They now control a string of towns, including 155 kilometers from baghdad. The u. S. Is sending 300 advisors but has ruled out putting troops back onto the ground into iraq. Thatsing pictures claiming it shows Iraqi Air Force patrolling above the countrys biggest oil refinery. Part oflitants seized the complex last weekend have been holding off army ever since. The refinery covering several square kilometers of land in northern iraq. It produces fuel for domestic customers. International oil output remains unaffected. Lets go live to melbourne. Seizing certain better post with syria and yourdon and jordan does up the stakes. It certainly does. Of that controls all territory practically between the euphrates and tigris across syria. They control most of the border crossings. This last seizure is a significant gain for them. Socalled sunni triangle they are trying to create. How could they possibly withstand a huge offensive from the air if u. S. Air forces are indeed committed . First lady, occupying theare territory because they have the support of sunni leaders in the area who are fed up with the maliki government. The trouble with airstrikes is that you risk very high collateral deaths. Drawdown,2011 troop there isnt good on the ground intelligence and makes airstrikes very tricky. With the kurds in the north, perhaps this cements that as well. The entire map of the middle withcould well be redrawn all that is happening at the moment and we can assign the authors of that map [indiscernible] to the history dustin. I think we can overstate that. But when it comes to syria and iraq, the internal borders have been redrawn over the last couple of years. The greater region probably will not change that much. Its unlikely that syria or iraq will go back to what they were before. How will it look if we look at a map from a year from now . Cann some ways, the best we hope for is that the kurdish baton of us zone in the northeast of iraq remains peaceful. It is a largely kurdish town and a key city. I dont know that isis will be pushed out of the sunni triangle quickly but it is important that whatever government, whether it inmaliki or a successor baghdad, they rebuild the confidence of sunni tribal leaders and slowly squeeze the space for isis. But even if that worked successfully, we would still be looking at semiautonomous zones rather than a unified state. If you can call anybody a winner out of this, is it iran . Up until now, iran certainly has been the big winner. This last decade has been a windfall for iran. I think that will be something that will be discussed for decades to come. But at this point, it is looking in the bit that for iran. I dont think iran wants a civil war on their doorstep nor do they want a restrengthen al qaeda offshoot challenging them. So i think iran is beginning to feel that it is in the interest to step in to stabilize iraq if they can possibly do that. That means, if anything else, putting pressure on the maliki government. This withiki survive pressure from iran and the United States the, too . There is a limit to what american pressure can achieve directly. But suggesting this policy of being very sectarian and being proshia is not helping anyone, especially not the shia. Pressure coming from tehran. Indirectly, if america gets its wish, which is an evolution of government and perhaps the replacement of the premier, but maliki is very paranoid, bunker down, and resistant to taking advice from anyone. Thank you very much for joining us. Lets return to the other big story. Chinese manufacturing gauge up to sevenmonth highs. More. Find out tom. Yes, some pretty impressive numbers out of china this morning. Came in at 50lash. 8 in june, up from 49. 4 in may. The first positive reading above the 50 mark so far this year. Pretty good signs for chinas economy. Rolled upvernment has a series of programs measures over the course of may, making it easier for the banks to tap funds come accelerating public in absence of infrastructure projects. It is a sign of the impact being felt in the real economy. Buthis is manufacturing prop 3 does play a part in this. How does the property sector play into all of this data . That is right. The fear for chinas government is that this is a kind of temporary respite, that the june data is the eye of the storm. Contractingl estate sales in the first half. That could be through to a contraction in construction in the second half. Secondly, exports have been one of the positive stories for chinas economy in the last few months. Shift from construction to expansion in overseas sales. Recently, we have seen downgrades for expectations in global growth. Downgraded bank has expectations. If real estate continues contracting, if exports disappoint, then junes pmi data could be an anomaly and we might see the government leading forced to step in to do more to support growth in the months ahead. Great talking to you. Indonesias residential race is using up, headtohead in the third of five debates on sunday night. Was on the agenda this time around . Both president ial hopefuls have put reformation of relations between indonesia and australia as one of the top priorities. , asked nights debate how he would handle relations with indonesias southern neighbor especially after relations soured last year. Does not come from indonesias side and he said that australia might have some sort of suspicion or phobia towards indonesia because they might think the population as a threat. But he still wants the two countries to remain friends. And emphasizing the importance of diplomacy to improve the relationship between both countries. , indonesiathe trust and australia must increase in medication and exchange it increase communication and exchanges. The tension between the two countries has suspended cooperation in several areas. Tony abbott met with the president earlier this month. He is confident resolution is on the way to mend relations. Candidates towns but lookingalistic to strike a balance. The next debate is scheduled on the 29th of june. Ontopic will be Human Resources and technology. Thank you. Is Australian Government again trying to get rid of the carbon tax. We can head over to paul allen who is in sydney. Opposition stalled this last time. Is tony abbott a bit more confident now . The odds have improved tremendously. There will be a new senate in australia from the first of july replacing the outgoing labour greens dominated senate which was really never going to allow this carbon tax repeal to go through. 30 minutes ago, tony abbott did reintroduce the repeal legislation to parliament. A 9 billion tax hit on the economy and reiterated once again his desired to get rid of it. Whether he manages to do so is still an open question. The odds have improved, but it is why no means guaranteed. The new senate, the balance of power in a new senate will be held by an eclectic bunch of independence and cross benches, the largest part of which is a told by clyde ballmer. Which way you yet will vote. On the carbon tax repeal legislation. He is expected to make an announcement on that on wednesday. Clive palmer is one of the great characters of australian life and it will be interesting to see if he wants to expect some kind of price from tony abbott for his cooperation. Thanks for that. Next, greece may not have won a game yet at the world cup, but they are frontrunners in another contest altogether. All the details coming up after this super short break. Coming through from the world cup and it does not looking good for south korea. Optimism before facing algeria, but they fell to a 42 defeat. Beating russia. The United States in a dramatic draw in manaus. But portugal equalized with a very last kick of the game. Lets take a look at the greece. They lost to columbia and drew with japan. But they are winning with the price of beer. Indeed. Tomorrow is a must win or it is their last in the world cup 114. Follow that the greeks are the big winners unless it comes to the bar. The greek fan is able to find buy a 500 and for the fans, they can drown their sorrows without feeling too ripped off. , three england fan bottles of beer is the same as buying two at home in england. So he was the big loser . I can tell you that off the pitch, it is crucial because they cost of beer is very expensive. Have the ghanian supporter is paying more. It has been a great game against germany. The crucial game. Teams in the world cup, greece tops the charts and in that order. They can commiserate without feeling too much whack on the wallet. After ghana, it would be a very costly world cup. For spain, it has been a very costly experience. Murray will open up on center covert centre court against his belgian opponent. Court, hallowed turf, has seen some of tennis is tenniss biggest battles. Likes it here. It is peaceful. He isnt bothered by our members. He can come practice. The reigning champion andy murray, it andy will cost you newly twice as much. From 2011 to 2015, it cost 47,000. Now it will set you back 80,000. The money is being used to revamp the all england club. 117 million for a new roof and other landscaping. Fans should be happy and players have a reason to be happy, too. This year, they will be paid 45 house and dollars for the 45,000f losing for the privilege of losing in the very first round of wimbledon. It is a lot of money. Years, wee last three have been trying to emphasize increases in our prize money targeted at those players we believe need it most to reach the top echelons in the sport. It is a long road, a very difficult road, and a very expensive road. When travel and coaching are taken into account, the n. L. Cost of playing pro tennis is 143,000. So how does wimbledon afford such generous fees for losers . Putting cost before if we accept some of those offers, we would ruin the brand and ruin wimbledon forever so we are not planning to. Brand wimbledon has much to thank for its past. Its success now realize on not upsetting the status quo. Up next, india has suddenly gotten more expensive. Find out after the break. A busy week ahead. Lets look at what is expected in the u. S. And why theo economy may dominate the week ahead. The coming weeks on wall street, a key question for investors will be can the s p 500 record rise continue. We will get new economic reports that will play a role. Economists say this weeks data may show the u. S. Economy shrank in the First Quarter at the fastest days in five years and that u. S. Durable goods probably fell in may while personal spending and home sales rose. A Bloomberg Surveys a Bloomberg Survey shows that homes climbed. Earlier this year we will get that data on monday. On tuesday, we will get the data on home sales. On wednesday, it will be all about the highly anticipated ipo for go pro, the maker of video cameras used by surfers, skydivers, and other extreme sport enthusiasts. Thecompany will list on nasdaq and seeks to raise as much as 427 million. With jobsut the week data and confidence data on thursday and friday. Mumbai 50 minutes away. Downiday, the market was. 1 . Go, a highhe losses again rail fares means it is as costly to travel by train as it is by air. Definitely good news for the aviation industry. The finance minister last week said that their medicine would be needed for the economy in order to and whether it makes political sense as it makes financial sense. We are watching out for the development of the governments stake in [indiscernible] steelmaker. That will happen later today. Passengers and free trade hiking prices. Impact of 3 . N the big one that you were talking about is passenger fare hike, 14 , effective the 25th of june. The minister saying that meeting annual expenses is not possible if such a hike is not done. What is going to be the price difference now between rail and air fares which are expected to narrow further Going Forward that could really encourage that is the hope of the Airline Industry to move from rail to air . We have seen several prices being offered here in india. It has not really done much in boosting demand but this could be possibly one step further in that direction. Thanks. Lets take a look at sony. Its scored another box office hit, think like a man 2. Hart,lm starring kevin sonys second number one debut in recent weeks. He did it to did have 22 jump street. Markets across asia at the moment moving to the upside with the exception of a few bumps in the road. Levels we havent seen in Something Like six weeks. Is asia edge was quote coming up next. Adrian mo ette wat is our guest. It is the middle of the asian trading day. You are watching asia edge. The top stories this hour, the early read looks, saying. Andtants advance in iraq oil is rising again. Is the honeymoon over . Promised shins abbe takes a hit in japan. Visitors flocking to the country like never before. Singapore under threat. Cyberattacks on the rise. The question about the citys ability to defend itself. And an alternative view to the world cup. The beer championships put up some surprising results. Look at the reaction, the Hong Kong Market really jumping. The chinese market, the aussie dollar, that is reacting. Dramatic