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tv   Business - News  Deutsche Welle  January 2, 2019 6:02am-6:16am CET

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charities. what a time to take the brain. assumes the rotating e.u. presidency as protests grow at home over corruption. brazil's weighs in a new president. says his country has been liberated from socialism but it's also saddled with debt. and one of cambodia's hottest exports boosting paper production to energize a whole region. i've been fizzling it's do business is romania up to the job it's taken over the e.u.'s rotating presidency but european commission president. has voiced doubts about its ability to do the job romania joined the e.u. in two thousand and seven and is subject to special monitoring by brussels due to
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shortfalls on corruption and the rule of law. these protesters say they've had it with corruption and nepotism so they gather at noon every day in front of the governing parties buildings in the city of sydney you in the region of transylvania. they're calling for politicians to respect the rule of law on. the grounds of existence what's clear is there is corruption at all levels of society that's why we're standing here on the streets to send a message we cannot look away any more all the politicians should know that we're watching them very closely. adrienne champion is the mayor of. a town in the car pay theon mountains he is frequently confronted with corruption allegations connected to his plans to revive an old gold mine close to the nearby city of davao with the help of
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a canadian mining company. he says his plans are all about bringing employment to the region. but. this project could create hundreds of jobs and thereby help significantly reduce unemployment in our town the whole region including neighboring villages could benefit from the mine. but the project requires getting rid of four hundred hectares of forest so far opponents have blocked the mine through the courts. in the town hall the mountain of files on the mine is growing. corruption is something the mayor doesn't want to talk about he presents a document from the government's anti corruption agency it says he has not profited personally from the five hundred million euro project. yes and
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n.g.o.s cuse me of illegal dealings but the anti corruption agency investigated everything and now i've been officially exonerated. down in the miners' settlement former employees are hoping for new jobs there are uncertainties once again up on the mountain new allegations of corruption against the mayor. the n.g.o.'s mining watch accuses him of illegally signing over the forests to the mining company. it says the mayor was in cahoots with the firm then after just one month. the mining company. and corruption directed right and then there. for now corruption is bringing anger to remain in its hindering investment and keeping investors and jobs
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away. european union officials call the euro a symbol of unity sovereignty and stability but they stress the need to strengthen its resilience against future crises a single cards he turns twenty today. the euro was launched on january first one thousand nine hundred ninety nine with a huge parsi the european central bank set the exchange rates with the national currencies but europeans could only pay with the euro using checks credit or debit cards coins and notes were released into circulation three years later. initially financial markets were skeptical. the euro fell to a record low of a c. five cents to the dollar on october twenty sixth two thousand. things improved two years later when the currency was launched as cash in paper and coins
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that confidence the euro climbed reaching a record high of nearly one dollar sixty. but the two thousand and eight financial crisis shook the global banking system. the euro also took a hit within a couple of months it lost a fifth of its value. times remain turbulent for the common currency the twenty ten greek debt exacerbated the situation and in danger of the euro the european central bank jumped into supporters and the currency lost significant value in twenty fifteen amid another debt crisis in greece and the conflict in ukraine but it started rising steadily afterwards. the euro is now the world's second most important currency more than three hundred forty million people use it in europe but times have still remained stormy for the common currency.
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brazil's new president has pledged to kickstart the economy. the policies of u.s. president trump. says he wants to put his nation. the private sector. his plan the country is drowning in debt it's going to be a tough job for his finance minister this is paolo gadget is the man in charge of turning brazil's economic fortunes around a u.s. trained economist he's pledged to introduce a host of free market reforms here he is back in october telling the media about his plans to boost investment by lowering interest rates and reducing bureaucracy. he also wants to sell off state enterprises in order to reduce public debt which skyrocketed to in the previous administration so just how big of a challenge will that be let's take
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a look at the numbers. back in two thousand and fourteen brazil's government debt amounted to fifty eight percent of total economic output by two thousand and eighteen is had surged to seventy six percent. the world bank has warned that the figure could rise to one hundred and forty percent of g.d.p. in the next decade if no drastic measures are taken one measure that's being discussed is the privatization of state owned oil company petro brass it's brazil's biggest firm and by far its most valuable asset. parts those have already been sold off that decision came in response to a major corruption scandal that broke in twenty fourteen. but the prospect of the entire company ending up in the hands of private investors is a step too far for many including apparently for president paulson narrow himself sealing the face of the oil giant is therefore one of many pressing issues on the
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agenda for the new finance minister. european union produces a trans tariffs a backfiring spot having to pay higher judi's on their products shipped to the united states they say it's been an unforeseen move in the market benefiting them. each of these aluminum blocks weighs more than nine tons specialist produce elements uses them to make extra durable industrial competence. since june the german company has had to pay ten percent in import duties in the united states but is actually making more money. that's because the tariffs have pushed up the price for aluminum. one reason the company c.e.o. once to increase production at its plant in south carolina the american africans he thought that's why the more value creation we do on site the less we have to import it from our point of view and the result will be that the tariffs will have no
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effect in the future because the more we produce on location which trump wants the less tariffs. the u.s. operations only account for ten percent of the company's total revenue but that will change soon demand is rising the company special is required in medical technology much like it is to make solar cells and cars. some call it the best paper in the world and it's proving to be a hot export fall cambodia compote its even received protected geographical rights from the e.u. putting it in a league with a ham and champagne this could be the cash crop for one of asia's poorest countries complet pepper is grown on about four hundred fifty farms income podia said to be ideal for the spices because of its oil industry is the biggest employer in the impoverished provinces of complet and kept. going complet pepper has allowed me to
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take care of my family and have a good standard of living. i one come godi in snow how important it is to grow here . during communist era the coming rouge cut down the production saying it was decadent the crop was revived in the mid one nine hundred ninety s. it's rebirth helped the local community and paid for your old medical clinics and schools the e.u. has given comfort to pepper to protect a designation that has pushed prices higher and opened up new markets the folks who have to make the real function have come far expecting production to increase in twenty nineteen either from the father com but pepper is already well known in some international markets but we are also developing some new markets on the pitch for developing the new markets gto quality and reputation of competent which is considered to be the best paper in the world by out that the problem here is how the fabric jocose by the revival of farming here has transformed lives and
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the landscape and created an awareness of the region among peppa loving consumers across the world. spice up your life a little in twenty nineteen and still cambodia will thank you nice doing business with a. plane . going to. play. a game. to play.
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