this is day w. news still to come america's decision to back out of the iran nuclear deal is not in your blow to iran whose economy will look at the many german businesses we've been developing the close ties with the country and with the country. ahead of humphrey will have from out on the rest of the days of business news very shortly your business update on the back of the top of the hour good. frank food to help watch international gateway to the best connection sells road and radio. located in the heart of europe you are connected to the whole world. experience outstanding shopping and dining offers and try our services. be our guest at frankfurt airport cd managed by from.

byron dorgan and like to go pick out a favorite scenes story got all the best goals we've got all the action. is the whole judgment but all share the experience every match that the bond is legal every weekend here on d w. one day after washington walks out on the iran nuclear deal the question now what does this mean for german business interests in iran will they be deterred also stand for also coming up the plunge of the argentine peso zs president mark recall on the i.m.f. to lend a hand and help shore up the currency. and it's a non likely combination blocked chain investors flock to hurricane stricken puerto rico for tax reasons and they say. to help out. this is your business update on

helen home for him but thanks for joining me concerns today that the future of german companies if they keep doing business with iran they softer u.s. president donald trump announced in one fell swoop that not only was he pulling the u.s. out of the iran nuclear deal but that he also plans to reinstate sanctions against the country as well as those still party to the deal and working with the country so far germany france and the u.k. say they will remain committed to the green mint and protect their business interests in the region. the u.s. u.-turn affects large e.u. corporations in particular siemens for one book text revenues of one hundred thirty million euros last year but the contract with iran surged soon after sanctions had been lifted now siemens will only say that existing projects will be completed quote as far as legally possible. trumps decision is a direct hit on european plane maker airbus

a contract for one hundred airliners for iran now hangs in the balance. german finance minister olaf scholtz promises to do everything possible to protect european commercial interests i'm struggling that we cannot predict at this point what we can do as the european union has come on you know news show you that we are in continuing talks and that i personally will have a couple of telephone conversations with u.s. colleagues today in order to progress on that is you don't find it was a. pox wagner had also been banking on business with iran europe's largest carmaker began exporting cars there in twenty seventeen. and a lot of german engineering companies also resumed business with the country as sanctions were lifted and the nuclear deal came into force. there were dreams. the reality words definitely of you not according to this reams so now we have to see a realistic approach doing business with iran we will continue doing business with

iran we will stay with our treaties to the iranian companies and every company must be side on their own all they want to continue and how they will do it in twenty seventeen german exports to iran rose sharply albeit from a low level they were sixteen percent up to three billion euros. so here's our financial correspondent daniel corby in frankfurt with more on the effects of the decision on european companies difficult days for the german and european business world who had lots of plans and ideas how to do business with iran arab us wanted to sell more than one hundred planes to iran's national carrier pretty george signed a four hundred million dollar deal in a joint venture to manufacture cars in iran volkswagen the german car maker also saw a big potential to do business with the country but all those companies even have bigger and more important deals going on with the united states and they know what

the possible sanctions off the u.s. could be very painful so they might have to reconsider and eventually pull out of the country. cope with that now german or to make it be m.w. is recalling more than three hundred thousand of its cars in britain due to concerns that intellectual fault could cause the cost to cut out completely while being driven in one case a vehicle that stopped caused a fatal accident effective models include a one series three series is age four and the x one made between march two thousand and seven and august twenty seventh last year b.m.w. recalled thirty six thousand petrol powered cars two to safety concerns. the argentine peso continues to fall sparking fears of a new an economic crisis president has asked the international monetary fund for help to prevent a further drop piece looking to dodge a serious crisis remembering the no doubt the two thousand and one crisis when the

country defaulted on its debt. the argentine peso has been in freefall it has lost eight percent against the u.s. dollar since last week and seventeen percent since the start of the year president machree announced plans to put the brakes on. the i decided to enter discussions with the international monetary fund to secure a credit line. i said just minutes ago i spoke with the director and she confirmed we can start negotiating an agreement. to try and curb the rapid inflation argentina's central bank boosted key interest rates to forty percent but investors have been pulling out and diverting the money to the us. the interest rates in the united states have gone up significantly and currency said evaluating against the us dollar. the dollar is putting immense pressure on other currencies

including argentina's. the government hopes the emergency credit will stop the crisis from worsening president might create has been grappling with the country's high fiscal deficit since he took office in twenty fifteen he made just cuts to social benefits and since then poverty in the country has soared. if you've got your eye on unexpected commodities look to see if it's a key component of electric cars and with more and more people turning their backs on diesel and going green the price of lithium is rising. lithium is bolivia's white gold the prices doubled since last year and an estimated nine million tons of it ahead in the world's biggest salt flats the sellout the uni the ticks traction is a new korea's process it takes two months to fill a container twelve tons of pure lithium carbon it mostly heading for china some of

it and up on the streets of shanghai. china is the world's biggest market for electric vehicles more than eight hundred thousand was sold last year and this year's ticket is expected to reach one million all these cars run on potteries containing lithium so there's a lot of hope pinned on this rapidly expanding market especially in latin america where there are considerable lithium reserves in bolivia argentina and chile the chinese want to get the hounds on it but that's proving particularly difficult in chile and they're not quite sure why i don't know we have our suspicions of. the chinese offered five billion dollars to take over a third of the chilean mining company ask un the government had the deal checked by competition authorities saying it would give asia an unfair advantage but the deal fell through the chinese say they were pushed out unfairly. criminals if you believe this is

a commercial transaction. getting more here are here therefore it will go public officials in chile intervene and the court mixing it up with politics no . we don't think that should happen if the courts are pretty normal pretty much varies. with the demand for lithium batteries rising the scramble to gain more access to it continues. puerto rico is still suffering off the hurricane memory of past of the island over seven months ago tens of thousands of people are without power but despite that cryptocurrency investors are coming to the island eyeing tax incentives and the block chain technology they use could be put to good use and rebuilding. darkness on the streets of puerto rico island white blackouts are still part of everyday life even seven months after hurricane maria thousands of puerto rican slike one necron a still lacking in basic things like

a briefing for their heads back never there is a rush like their water. when the house on the water but at the same time the island presents a completely different picture investors from the block chain sect coming to puerto rico with capital and visions for the future german entrepreneur florian reich has seized block chain as an opportunity for the island to repair itself the public database that block chain is made of can help to connect the consumer and supplier if a transaction directly. train technology can help to rebuild the infrastructure in countries like puerto rico you can for example regulate the power supply in a more efficient way to prevent power outages almost from the plant up in san juan the young entrepreneur meets up with c.e.o.'s who have chosen puerto rico as their ideal location for innovation there's incredible tax incentives that allow you to

have low cost operations and some of the incentives to apply in many ways to blocking the government of puerto rico office tax incentives to attract companies and investors to the island last month the department of economic development and commerce announced plans to form an advisory council that will support block chain businesses many puerto rican since some one still unsure about the idea of their island becoming a paradise for crypto investors read daily we deploy our food people and where you deal with the bio well or food people what they want to do it seems like they want to change everything and kind of take over. the part that kind of freaks me out a little bit the investors don't seem to care too much about that. critics all they see as potential. puerto rico is a blank slate and we can utilize block chain for government for community many different ways and puerto rico could be

a unique place in the world by utilizing watching first in the meantime graham is preparing for the next power outage he's never even heard of the word change hopefully one day the two worlds will be able to converge on the islands they share . that's it you're up to date with the latest from the walled off business will find us on facebook follow us on twitter on disco business on net so you kind of miss the homefront is my handle thanks for your company see you soon all right now here's a look. as. we .

enter the conflict zone with tim sebastian. our guest this week during your obama's views on our show john vice president of the republican party which moved on me near the last train you will hear music colleagues now accept defeat a little bit make trouble for the new leader of. conflict so for. an exclusive

interview with the french president. man well monaco is stirring up rounds in europe and the world we meet the rising star of global politics the interview. climate change. isn't it time for. people and projects that are changing our environment for the better it's up to us. to displace two nations. one homeland see tradin to program.

one end of the green on peace but an assassin put an end to that train. returning. to the displaced people who are still fighting for their homeland. israel seventeen years may twelfth. all broadcast times online. a month is a long time these days in armenian politics long enough for the last president to finish his term in office and take most of his considerable powers to the prime minister's office. crowd some protests and force him out i'm now the man who led those protests has taken his place as well. my guest this week hearing .