some soccer news in egypt have booked a ticket to the world cup finals for the first time in twenty eight years a last minute goal by muhammad sala sealed a win over congo and top spot in group e. this was how the result went down in cairo have look. it was the road scenes of jubilation because egypt has only played at two world cups before back in one thousand thirty four and one nine hundred ninety two was the second african country after nigeria to qualify for the twenty eight hundred twenty meant in russia. you're up to date it's a lot of. germany state by state. the most colorful. the liveliest. the most traditional. find it all at any time. check

in with a web special. take a tour of germany state by state. on d. w. dot com freedom of expression. a value that always has to be defended and knew. all over the world are to a freedom freedom of art. a multimedia project about artists and their right to express their views freely. d w dot com part of freedom. at. the royal swedish academy of sciences has decided. to study acidic spine prize in economics sciences in memory of alfred nobel. to richard h. failer for its contributions to behavioral economics. as the last

nobel prize of best year the twenty seventeen award in economics us professor robert as one the on the for having made economics more human by understanding that psychology of it. and they can only fall out of spain's troubles as complicated as the politics of catalonia threatens to declare independence but spain's share and as we bounce from last week's losses. also as the japanese rise wind sock a record label loses market share in japan's becomes above trend. and you're. welcome to do business i'm going to have an office in berlin u.s. economist richard thaler has been awarded the nobel prize for economics today's announcement by the swedish nobel committee praised the research of bridging the gap between psychology and economics so this distinction occurs as economists are increasingly under fire from rising populist and antiglobalization movements around

the world because of behavioral economics and thanks to. the royal swedish academy of sciences has decided to ward the stratospheric spank. good morning we also have social preferences and we care about you would not put it back so we're here in the session all of the royal academy of sciences. journalists from sweden and all over the world and. so who is robert what has he done to deserve one of the highest accolades in the world of science my colleague yorkie ellis. so a closer look at the man and his work here make the economics more human please explain well i would love to give you his most famous quote and here it goes

conventional economics assumes that people highly rational super rational and unemotional but they are not as we all know you know and that's why conventional economics is incomplete and often fails we as humans all make mistakes we make poor choices and why we make poor choices and how we can make better choices that is what his work focuses on and by putting behavioral science and economics together predictions are a lot easier than what's so special about this or this been low been common knowledge for a long time that you know consumers can't be predicted that humans make mistakes and all that what's so special about. well i want to give you an example you know if you have a kid and you tell your kid listen you can have one marshmallow right away and you put that marshmallow in front of that kid and you tell the kid but if you wait five minutes you can have three and you leave that room and that kid and that marshmallow in front of that kid you know what's about to happen the same thing happens with grownups they are no different although many people and economists

believe so but investors on wall street for instance they create bubbles bubbles burst and understanding all of this and taking these kinds of behavior into account into his risk research is really important and that's why he has received the nobel prize today. who else was in the race who was of the on the short list if you will well i would love to give you two examples to women this for instance esther do flow of french professor she uses our cities in whole work randomised controlled trials technique and speired by our cities in medicine to test the effectiveness of new drugs. that message you that uses two groups a randomly chosen group and a control group and asked to do flu uses that method to measure the impact of poverty health and educational programs in the world and then there was an krueger from the us she suggested that countries should be able to go bankrupt just like

companies instead of bailouts and years of austerity and massive cuts they should be able to wipe the slate slate clean and start again and that's also something revolutionary but as we all know they didn't win the prize the next year we might see a female winner but we'll have to wait a year will be about time and so far there was only one woman yes won the prize for economics circularly thank you very much for bringing a bring us up to speed with our last work which the markets in europe are preparing for a shock this week if catalonia makes good on its threats to declare independence from spain major companies are moving their headquarters out of the region to elsewhere in spain among them telecommunications firm sell next class financial firms and cash back and now the government in the madrid is making it easier for companies in catalonia to swiftly move out of the region a break with spain would also mean that catalonia would lose its current status

within the e.u. driving up the cost of imports and exports. despite growing concerns the objects stock index has actually recovered somewhat let's bring in general de milan our financial correspondent from frankfurt so the eye of x. is performing well despite the tensions can you explain why. well what i would say two things are happening first the markets are hopeful that the measures you mentioned the measures that would allow companies an easier exit out of catalonia will work in terms of ratcheting up economic pressure on the region and thus that would help to head off the worst case scenario from the markets perspective of course that is a cattle on exit the second thing that is happening is that that rally in the ibex is mostly being driven by banking shares now you've mentioned bank and banquet isabel now both those banks have seen their shares trade upwards after they announced that they would be relocating their headquarters outside of catalonia now

especially for investors who aren't feeling as optimistic feel the relations between madrid and catalonia have reached a point of no return this is something positive because it signals to them about companies have contingency plans in the bag that would afford them protection in case you would continue to fly both units are still solvent evelyn is financing operations by selling off parts of its business piece by piece. we stand the sec to argentine argentina now line says it's withdrawing services to the venezuelan capital of characters claiming concern over security as the nation plunges ever deeper into a political and economic crisis dozens of other allies have taken similar measures passenger traffic to the embattled south american country has plummeted by seventy five percent in the last four years the head of the airline trade organization says that israel is now practically disconnected from the rest of the world. now

the rise wind sock aid has been brewed and drunk in japan for at least a thousand years but increasingly it is losing market share and it's homeland but at the same time stock is gaining popularity in european bonds following in the footsteps of single malt scotch whisky all the recent revival of gin. soon to be dropped as well which is expected to further push the trend. in japan saki is an old man's drink but at the interest at this tasting in paris is any indication here in europe it's a young person's game with a new generation of european drinkers on the lookout for the next big thing on the cocktail scene premium saki is suddenly sounding good. like the bitter taste it's unique to japanese saki. convincing the french that there is something that comes even close to the experience of a crisp chablis is a pretty tall order but wine experts at this contest are optimistic.

if it was like you they usually go the winning saki is similar to the great french wines and i think it will go well with french cuisine. they go on their own that they want to see. premium sakis have little in common with the mass market brews mostly sold in europe rice grains are polish before brewing and no distilled alcohol is added to the mash so far sucking exports are rising sharply to the united states and asia. europe is virtually a virgin market for saki though but once import tariffs fall away experts expect sales to pick up quickly. and that's it from me and the business team here i'll have an update for you in the next hour. in the meantime check out twitter and facebook feeds before you go here's

a real time check on global markets and that performance at this hour thank you very much for watching.

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