tv Business - News Deutsche Welle October 23, 2018 1:15pm-1:30pm CEST
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chain between hong kong macau and the chinese mainland china opens the laws along the same bridge. that immokalee happen business news would get hot and for us to still be deducted news if you get. to. play. female candidates then it's a v. for. women a striving for power in the us military mean that shouldn't. matter how i doubt her out of the can look to these women want. this pathway. and meet some of the candidates on the c.w. me most. played if you ever
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have to cover up a murder the best way is to make an accident raring to play. players never read a book like this was the first. most profound streets. occurrence of moral hygiene as several high profile guests pull out of an investor conference in riyadh the diplomatic fallout from the suspected killings suspect of the killing of a dissident journalists is evolving into real economic damage for saudi arabia. not also monsanto pays two hundred million dollars less in damages to a former round he was up at a cost of holds the link between the weed killer and cancer. and it took
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a decade to build and cost billions now china has opened the longest sea bridge in the world to boss doesn't make economic sense. this is deed of your business and get out of his welcome a major investment conference got underway in riyadh today but has been plagued by a series of cancellations by high profile figures over the presumed murder of saudi journalist jamal because should she u.s. treasury secretary steve minucci in and i.m.f. chief christine legarde have both canceled their attendance joe kayser the c.e.o. of german industrial giant siemens has pulled out as well albeit reluctantly. kitty dimitri a c.e.o. of their russian direct investment fund an idea. the organizers had launched a charm offensive to ensure the conference met super billing with a high profile roll call of business names to to attend but the reality on the
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ground as the conference opens is a sobering one. that among those giving the event a miss on the u.s. treasury secretary the head of the i.m.f. and the c.e.o. of industrial conglomerate siemens joke asia he cancelled only at the last minute prompting further criticism back home in germany. men saying the business of business is doing business business has also the responsibility is this leaders are also moral leaders in our well now with. ford j.p. morgan and likewise dropped out of the event. the organizers have refused to reveal just how many guests will be absent and have taken down a list of plans speakers posted earlier on line. the three day meeting dubbed davos in the desert is still expected to see the signing of major billion dollar deals.
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saudi arabia wants to become less dependent on oil revenues by diversifying its economy needs launched an investment for a range of new infrastructure projects the promise of job creation is another factor one in three people under thirty in the kingdom are currently unemployed. investors had seen the young crown prince mohammed bin solomon as a positive influence for the future after he lifted the ban on cinema and permitted women to drive cars. but after the international outcry over the death of dissident journalist jamal khashoggi in the saudi consulate in istanbul many companies are putting distance between themselves and the regime. so what does all that mean for the kingdom and those doing business with it let's bring in somebody who's a financial analyst from medical findings and joins us now from dubai we've heard that countless high profile figures have pulled out of that conference does that hurt the kingdom financially oden say it would hurt them financially in terms of
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fair pete ation it that it's ruining part of that image that crown prince had been so none has been getting so much effort into building in the recent months over economically does it would it affect saudi that badly saudi still the largest oil exporter one of the largest oil exporters in the world and in fact public investment fund has been investing heavily in index and tech stocks all around the world especially in the states. so for the companies for example who have actually pulled out do the saudis watch that carefully and do they have a long memory on these companies expect when all this is blown over this whole scandal and they expect to have more trouble doing business with saudi arabia. and of course we do not expect the government to hold grudges against the corporates but also showing showing some faith in the saudi government and its and its judgment would be a positive thing for certain companies to do it's understandable that companies such as siemens itself has been under
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a large scrutiny before before the before the reluctant. so on the behalf of its c.e.o. from the investment summit however in the long term these deals are quite large and they serve a bigger purpose and it's the vision of twenty thirty and i think this is a long term goal the saudis not willing to give up despite the current mishaps that are taking place right now definite definitely certain companies who have decided on not going to the or attending the investment summit will be punished in a certain way not quite sure how but an example would be instead of giving thirty billion dollars deal to a certain companies could be outsourced to several smaller companies and that way you would lose that the deal size and. why is saudi arabia so keen on foreign investment these days and again this is part of what you were talking about earlier the focus is on diversifying its. economy and its income stepping away from oil generated revenues is a big is a big part for the g.c.c.
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at the moment and we're seeing those reforms across all tissue states so the rec one direct investments serve as a way to also strengthen the trade agreements between countries it brings more more exposure to. certain pro docs in the market introduces new investment alternatives in the markets as well so it's really a wide variety of options and this is why south you're doing that. because obviously from called finance joining us from dubai thank you very much thank you. punitive damages that chemical company monsanto has to pay to form a groundskeeper have been slashed from almost two hundred ninety two seventy eight million dollars at the same time the court upheld the jury's finding that monsanto's weed killer had caused the man's cancer monsanto says its it is pleased
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with the reduced reward but still plans to appeal the verdict saying that there was no scientific proof linking its best selling herbicide round up to counts of german chemicals john the buyer earlier this year and inherited thousands of roundup related losses. let's bring in our financial correspondent for friday for paul what does this ruling mean for buy and how did the market react to. well you could expect two hundred million dollars to pay less would be a good sign but overall this ruling is not good for fire actually it could be potentially devastating because the judge held the ruling by the jury and the buyer was unable to break that link between its product and the cancer this this man suffered from that could trigger or encourage other people with similar cases to
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also sue the company who said by this ruling now and there are over eight thousand of these cases in the u.s. alone that are out there is sending out so this could potentially be a very very costly for a buyer and the question is was it really worth acquiring at monsanto for sixty six billion billion if there's additional price tag coming through these lawsuits so let's leave her there lost over eight percent actually lots of legal had exit headful by both stocks around the globe have been tumbling on tuesday give us some obama. yes. lots of geo politico our worries in the us were donald trump has threatened a nuclear arms race basically kind of fusion about saudi arabia and then here in europe there's the italian debt crisis looming and. too much for people today that back at minus one point seven right now it's down even further earlier as another
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can take care. of this it's from the front that started strange thank you. b m w's diesel problems multiply and the german car maker is recalling over one million additional diesel car it says an exhaust system problem could cause a fire in quote extreme cases the recall affects models made between two thousand and ten and two thousand and seventeen b.m.w. says cooling fluid can leak into the exhaust cooling system and mix with other substances posing a potential fire risk the announcement brings b.m.w. global recall total to now one point six million big bills. china is building bridges quite literally in this case it happens to be the longest in the world china does do small these days but it's not just a procedure project it creates a road link between the special economic zone of the high on mainland china macau
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and hong kong that's fifty five kilometers long ten years to build cost billions and its usefulness is disputed it looks great though. it has been a monumental challenge but after nearly a decade of construction work and some twenty billion dollars the big day has arrived so it's no surprise the chinese government is hailing the opening of the record breaking structure. i now declare the hong kong bridge open. but opinion is divided among ordinary hong kong others i. know of i haven't been on the bridge yet so i'm not sure but i think the opening is good but the brains convenience to the three cities. they get a call all the time but it wasted a lot of hong kong is money right it's meaningless for normal people we rarely go to the mainland we would hardly use the bridge. construction for the bridge was
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dogged by controversy ten workers died during construction and cost overrun the budget by more than one billion dollars hong kong residents have also complained about the restricted access to the bridge they will need special permits to drive across it another objection is that the bridge isn't even open to public transport . but what china the bridge is also part of a larger initiative to connect hong kong and the chinese mainland to form a high tech business region to rival silicon valley. that's all your business i love an update for you in the next hour thanks for watching the box set.
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is that possible. to go into the city researching the future of the culture of strips of wildflowers which could replace pesticides. plans for. the fertilizer span a balance between high yield bond diversity be found to borrow today sixty minutes. boy. slowly. carefully. was so. nice to do go to. the edge.
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