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tv   Business - News  Deutsche Welle  June 7, 2018 1:15pm-1:31pm CEST

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not even now as north korea and the us discuss peace. like a. how can we talk when we're in the grave she asked him you'll be lying alongside your wife no mother he said that's just my life and death and i will be really nice as. it was indeed to have the news coming up ahead this is with monica please stay with us. to cut. out all the germans came together in one nation from shall the money to chancellor also from bismarck. the history of the germans has been shaped by great rulers. by swells always to bring my royal college of bass to protect christendom and spread to find the truth of the book are we to fall back
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a bit to the enemy in tom latham up and steered by courageous decisions for the free must follow the player play the germans every week on t.w. . investors are pulling out of turkey amid a weak lira and rising inflation can the turkish central bank prevent a potential recession or does turkey need aid from outside we asked a professor of international economics also on the show europe's power engine is losing steam in germany factory orders dropping for the fourth consecutive months
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after. the long wait is over german chemicals giant bio completes its takeover of u.s. seeds john on some toe emerging as the world's biggest player in the agro chemical sector. welcome to do business and we start with breaking news the turkish central bank has raised interest rates to seventeen point seven five percent the move is set to cause more uncertainty for investors less than three weeks ahead of the country's presidential and parliamentary elections the interest rate hike of over one percentage point had been widely expected as data showed this week turkish inflation hit a six month high last month president of the one announced his intention to exert more control over economic policy if he wins the election and that's triggered losses in the putting further pressure on the turkish central bank to raise rates.
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and today's meeting off the turkish central bank comes only two weeks after an emergency interest rate hike so a clear indication that these are difficult times for the turkish economy a growing number of foreign investors are pulling their capital out of the country since the beginning of the year the lira has shed twenty percent of its value against the u.s. dollar is a major foreign companies are simply afraid to invest in turkey and its falling currency is a huge problem turkish firms have foreign currency debts totaling over two hundred twenty billion dollars and the weak makes it more difficult to repay the loans to make matters even more interesting among the lenders include the lenders include european banks including italy and italian banks and. yeltsin professor of international economics at constance university of applied science what insolvency off turkish debt has could mean for the e.u. . it's italy it's spain and these are exactly the countries which have been going
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through a very difficult financial period and the central bank in europe had an eye on this loan positions with respect to turkey but in italy in particular you mention it this country is in a political on a stable situation and that link it should turkey will force european politicians to think about the potential bailout off turkey fire italy but i'm afraid that the german politicians in particular are not going to be happy about these kind of into linkages and dependencies just remember the discussions in germany that bailouts basically why should germans pay for mismanagement in other countries and given the rhetoric between germany and turkey over the postes years that will be a very very difficult situation also for the european banks and european politicians i might marry if you want so now before the e.u. bails out key there is another alternative for one has asked the international
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monetary fund for aid could do the same and what the i.m.f. stepping. well there is a major difference in the i.m.f. is a lender of last resort basically comes in if there is a potential to restructure governmental deputy particularly in turkey we have a large commercial private death which creates this friction some problems and besides that i have my doubts that the political will in turkey is existing to take in foreign international organizations i just want to. remind you that i don't himself was always boasting we as a as adept a country became now a credit to country and within the i am after that will be not very high in times of the election ok that sense i know you. professor of international economics at constans university of applied science thank you so much i think you. now german industry is beginning to slow down in april demand for
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industrial products dropped for the fourth months in a row germany's federal economic ministry fig figures show that germany recorded two point five percent less factory orders and the month before due to declining demand from within the euro zone economist expected growth of north point eight percent the reason given for the receiving orders is the general insecurity course by international trade disputes and with that it's over to our financial market correspondent only box at the frankfurt stuck exchange really how is this latest data going down where you are. not that great shares queries here are going down that also has to do with the euro the year also went down initially when the news came it was in on some unpleasant surprise for everyone concerned but since then the euro has climbed and it's now being traded well over a dollar eighteen and i think that has less to do with the industrial orders side
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but more to do with the expectancy the discussion developing what the e.c.b. will say about reducing monetary support for the economy next week but the industrial order side is of course a very serious question because as you said four months in a row ouch that hurts is what response of one economist was he talked of a nose dive and he said that it's time to stop to try explaining. the numbers receding with one off factors like vacations or the weather or the democrats lose so clearly people are are worried about this development comparing it to the situation in two thousand and twelve when the euro debt crisis was going on as well luckily it's a twenty eighteen right now and maybe maybe there is something around us that could boost optimus and do you see anything. well at the moment it's hard to imagine i mean you mentioned that worry over trade wars was behind this well that was back in
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april when these numbers were coming in and now we have may june and worries over that have increased as they have over the stability of the kind of confidence in the eurozone over the development in italy but you know economists are still pointing out that look this is complaining or worry at a very high level the order books in germany are still chalk a block full companies are still frantically looking for qualified people to work for them saying it's an impediment that they don't have enough people and the production is still humming along at quite a good pace all right so no reason to panic just yet that's good news and fine thank you so much. it's the largest ever for an acquisition by a german company german chemicals group bya is finishing its takeover off u.s. seats giant months until today the deal is with sixty three billion dollars and it turns buy into the industry giant. it took almost two years but it's
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finally done with its purchase of months on to buy a becomes the largest agra chemical company in the world. it holds just over thirty percent of the global market that's ahead of the chinese swiss firm came china syngenta which has just over twenty eight percent then it's the u.s. business dow dupont with seventeen and a half percent b.s.f. controls about thirteen and a half percent of the global market you know other words just five corporate entities will determine the direction of global agriculture and the nutrition of humanity this while the world population grows ten billion people by twenty fifty according to current estimates because farmland isn't increasing it's up to these five firms to figure out how to coax more out of the ground that's already under the plough. to india now where rising incomes have fueled the country's appetite for luxury cars last year more than three million cars were sold in the country out
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of which forty thousand well. the potential for growth in india is enormous hurdles remain our correspondence on your follicle with more from delhi. for deepak sharma this shiny roadster is a dream come true. the fashion designer has been a fan of mercedes ever since he was a young boy he graduated from business school a year ago. and that's when his grandfather a farmer gave in the sports coop that he my grandfather of employing the thing you know this is where they're weak and vegetable fields used to be but now it's prime real estate with india's economic growth there's a demand for land and soaring property prices have transformed the outskirts of delhi farming families like de perhaps have become millionaires youngsters like me . think that all of this is the most. it may look good but
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driving a luxury car on india's rough roads is anything but easy. holds down all these guys because they don't need the need for the both or. the ratios of playing with anything that holds. after they get it carefully into play. because there was a storm coming out from the towards it can only damage or. this. time deepak can really step on the gas is when he's out on the highway but soon heavy traffic puts the brakes on the joyride. it's an expensive passion day pax car cost about four point five million rupees or about fifty six thousand euros that's a hefty price tag for a fancy ride showrooms like this one are thriving here the used car sell for about forty percent less than when they're bought new it's a big draw for customers. in
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india very few people can afford new the three cars. that's because they're more expensive here than in most other countries but buyers like deepak are already dreaming of bigger things he now wants to buy a luxury sports utility vehicle to better navigate the bumpy roads in remote areas . he stays connected to his roots here in this village in the northern state of hari ana a his family still owns farmland here it's a place where no rolls royce or mercedes well ever dare to venture a out and that's the business update here and. more to come in the next as you give them the to move the to. the
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to . the to the to the to. the to. the to. euro. what unites. what defines. the moment trojan horse. what binds the continent to outright answers and stories of climate change. spotlight on
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people going to a few and. entered the conflict zone the fight against newsweek you mean some of the former israeli prime minister and who is a whole much she wanted an invasion of gaza in two thousand and eight what do you suppose about the recent violence along. the border under fast funny israeli prime minister who went to jail for corruption how is it that he has no regrets. with different languages we fight but. that's. giving freedom. global news that matters w made for mines. a school exercise book filled with
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stories of war atrocities written by brave people who want justice. and then she this picture was taken in banking in the us and it's in an exercise book why don't cite england who were abused in range of women and girls who gave birth to one wanted children. feel would winning documentary starting june fourteenth on d w. alone a very warm welcome indeed to focus on europe with me piece of craven and we begin in italy which finally has a new coalition government a coalition however that blames the brussels and above all bulletin for its release
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what brought some or both coalition partners the anti establishment five star movement and the far right league say they're going to take a hard.

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