This is a transcript of top stories presented by China's CCTV Business Channel as produced by CNBC Asia Pacific.
Good evening, I'm Saijal Patel and you're watching "Asia Market Daily".
Exxon Mobil's CEO says he doesn't think the jump in oil prices is hurting the U.S. economy yet.
Even though U.S. imposed sanctions have stopped Exxon from buying Libyan oil, he's unaware of any firms having sourcing difficulties.
(SOT) Rex Tillerson, President & CEO of Exxon Mobil:
The $20 jump we've seen in the last few weeks is really the market pricing in the risk premium as they view it on the future supply of oil. Today all the markets are all well supplied with oil. We have our own supplies in the Mediterranean interrupted when we had to cease lifting Libyan crude. We've not had any difficulty replacing that supply and I'm not aware of anyone who's having difficulty securing supplies of oil.
Despite the current turmoil in the Middle East, Exxon still sees great potential in the region - which boasts the largest undeveloped oil resources in the world.
(SOT) Rex Tillerson, President & CEO of Exxon Mobil:
I think there are tremendous opportunities ahead of us in Iraq as Iraq continues to evolve its government and things continue their path of stability. They have tremendous resources that are yet to be developed, tremendous resources that have yet to be discovered. I think the same can be said for Abu Dhabi - a lot of resources yet to be developed with exploration potential. So those are two areas that I think are going to be very important to global oil supply in the years ahead.
Cash is king now for Pimco's $237 billion Total Return Fund.
The world's biggest bond fund has dumped all of its U.S. government-related debt, and instead raised its cash holdings to $54.5 billion at the end of last month, up from $11.9 billion at the end of January.
Founder Bill Gross warns a yield of 4 percent on the U.S. government 10 year bond is not an unreasonable expectation, given the Federal Reserve's second round of Quantitative Easing expires at the end of June.
(SOT) Bill Gross, MD & Co-CIO, Pimco:
When they disappear, or if they disappear from the scene at the end of June this year, that simply somebody has to fill up the space. And the 2 QE policy programs along with a 27-month policy rate of near zero percent produced artificially low levels of U.S. treasury rates. So when that buying power disappears it's a legitimate question as to how high yields have to go.
Speaking of making money, the BRICs are churning out billionaires. Rising steel and oil prices in Russia, Brazil, China and India have fueled a wealth spike - according to Forbes' annual rich list.
China nearly doubled its number of billionaires to 115, while Russia saw its number of the ultra rich rise to 101.
It's the first time countries outside the U.S. produced more than 100 billionaires.
The combined wealth of the 1, 210 billionaires on the list stands at $4.5 trillion - up 25 percent from a year ago.
Topping the rich list for a second year in a row is Mexican tycoon Carlos Slim - who is now worth $74 billion.
Bill Gates comes in second, with 56 billion. He lost out on the top spot after giving away $28 billion to charity last year.
Fellow philanthropist Warren Buffet placed third with $50 billion.
Earlier today, CNBC spoke with Steve Forbes - about whether he thinks the new rich in Asia will start giving away their billions anytime soon.
(SOT) Steve Forbes, Chairman and Editor-in-Chief, Forbes Media:
I think the spirit of philanthropy will start to take root, and you will start to see some benefactors putting money down to create new institutions. After all, institutions of higher learning and other institutions are burgeoning in China and India and I think this is going to excite a lot of these philantropists, potential philantropists."
And let's hope it does.
Well that brings us to the end of "Asia Market Daily". I'm Saijal Patel from CNBC.
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