the nine years and the british. welcome to devalue business asia i want to get jones good to have you with us german chancellor angela merkel is in the japanese capital tokyo meeting with the japanese prime minister shinzo in a joint press conference both stressed the importance of close trade ties in times of rising protectionism this it comes just three days after a sprawling trade pact between the e.u. and japan came into force. good friends are important especially in hard times that's why german chancellor angela merkel has been emphasizing during her visit to japan a major ally in her call for free trade but their relationship is about more than trade bintan from. i am in japan for the fifth time now but we've met seventeen times already. and we've always worked well together even at international conferences. and we have

a long friendship with twenty twenty one marking one hundred sixty years of diplomatic relations for us it's an incentive for us to work even more closely in an ever more disorderly world. for his part he warned against rising protectionism saying germany and japan the world's number three and four economies respectively had an increasingly important role in protecting multilateralism both countries face similar challenges a rapidly aging population and the need for improved digitalisation germany is japan's biggest trade partner within the e.u. some four hundred fifty german companies are active in japan and the german chancellor is traveling with a business delegation eager to forge even more deals. cleamons called the director of trade policy of the german chamber of industry and commerce in brussels told us about the significance of this it to japan. from a business perspective important. both economies want to cooperate

closer we. trade well your move over forty billion euros between germany and japan we have a new trade deal that is set to reduce the trade barriers for both exports and imports and improve investment so there's a very much needed signal especially for the drive an economy that has heavily dependent on open markets internationally free trade on openness for investment. came as quote by the director of trade policy of the german chamber of industry and commerce in brussels they're emphasizing the importance of open markets the trade of a britain that could soon proved difficult with threats at less than two months away and no deal in place u.k. based businesses stand to lose access to the european single market come march twenty ninth japanese comic and nyssa decided to act and shift production away from

the united kingdom. the nissan plant in sunderland produces more than half a million cars a year its new flagship s.u.v. the extra zero was also supposed to be assembled there but that has changed the japanese carmaker has shelved those plans due to uncertainty over break that my reaction to this is first of all which is absolute disappointment this comes at a time when the u.k. automotive sector is in the huge amounts pressure not only with rex it days in emissions automation four point zero other issues more than seven thousand people work at the nissan plant in north east england one of the country's biggest car factories parts come from all over the world across the ply chains that traverse the e.u. . well sunderland voted for brags that free trade within europe is crucial for nissan well it's devastating news for the city and the region any loss of future production at the plant makes it less stable but i can't say i'm not surprised you

know that the the uncertainty around wrecks it is is always a fact you know in any decisions made in manufacturing. britain will leave the e.u. in a few weeks but no one knows what will happen next in the brics that crosses a nice and clearly does not want to wait to find out. now it is the high point of the indian festival may last on the thirty million people are expected today alone at the gathering which is said to be the world's biggest religious gathering millions of devoted pilgrims more miles to take a dip in at the confluence of the ganges and he reversed it's a mega event that stross a massive number of tourists and it's worth hundreds of millions of dollars to an estimated one hundred twenty million people attended the twenty thirteen mailed out and this year's to be expected to be even bigger. and

for more on the economic impact of the comb festival i'm joined by row one then qatar a christian on who joins us from delhi rome good to have you with us religious festivals we understand can also be big money spin especially when millions of people are on the move what are we talking about in terms of money involved. well monica the scale of this festival is truly something else it's mind boggling as you said one hundred twenty million people in the last edition and this year people are expecting as many as maybe one hundred fifty million people to visit over two and a half month period of thought the numbers of very large the center and the state combined have put in about six hundred million dollars just to get the infrastructure and arrangements in order and a report from the confederation of indian industry expects the impact economically to be something in the range of thirteen to fourteen billion dollars into what is

otherwise a poor a part of the country so the numbers are very large and they expect to impact things like hospitality the tourism sector but also even consumer goods companies across the board you will see a huge amount of money pouring into this part of india all right but is this a long term impact that could boost business in that region beyond such festivus so now the coombe is a regular festival it happens every twelve years and in this case this is the hof actually sort of happens every six years so there is some sort of regular amount of money coming in every time there's an edition of the festival but this year will likely be much larger because the center and the state us lately more religious minded so the amount of money being poured in this year is more than three times larger than the last editions six years ago it's hard to gauge how much it will impact afterwards but they'll definitely be

a huge increase in investment into the area and the infrastructure will last for much longer than the festival it's certainly impressive figures there thank you ron . who joined us from delhi. singapore authorities are investigating fraud allegations against a german digital payments company why a tot last week media reported that a wire cut executive based in a single person had falsified contracts for transactions linked to money laundering that story caused the financial company stock to tumble since last summer wired cars has been listed on the dax germany's blue chip index german authorities are also investigating allegations of market manipulation relating to the market share price drop why akad has rejected the fraud allegations. and for more on that story let's bring in our financial correspondent stan but it's in frankfurt pal you've just finished a conference call with the wire caught what's been said yeah the

c.e.o. marcus brown commented on in detail on the allegations and we learned that they have first come up in april of twenty eight team when a company a company employee in the department. made the allegations against another individual upon which internal compliance looked into the issue and didn't find anything they said however since there were so substantial claims they also got an extra law firm to look into it also with no results found no criminal. wrongdoing in the activity from wire card that still doesn't wipe out all the doubts there's still no independent confirmation as for example from the singaporean police just briefly investors they're buying is that impressed. well they're certainly buying it there was speculation that maybe the f.t.

got an early version of the law firm's report listing all the allegations their share price or price is certainly up and recovering hasn't quite reached the limits of the levels of last week yet. it's certainly recovering ok pakistan but it's there from frankfurt thank you so much. celebrations of the chinese new year just around the corner and a growing number of people are getting tired of hauling around heavy sacks of groceries the only thing they wanted to hold in their hand before digging in from. dried fish. all kinds of sausages dried mushrooms food is always the priority when it comes to chinese new year many used to prefer to get what they need from the new year market but now people's preferences have changed. the new year market is too crowded uncomfortable you need to avoid bumping into others while looking after

shopping bags at the same time it's exhausting. the new way to shop for food is through a few simple clicks online. but this is a huge challenge for businesses with traditional stores. however some of them are willing to try and move their businesses online. mr chew has been running his food business for thirty years and he's one of those who's made a successful transition. has many people called me and wanted me to deliver their food to them. that inspired me to sell food online. only i just. fell under my hat. now being online demands a sky rocketing.

i have a kitchen downstairs and it only prepares food for the store here i have another larger location which mainly handles my online orders. tenders at the market also see the need to move online soon since that's where the money is now. especially at this time of year food seems to be what matters the most. business asia here ended all the year thanks for watching.

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play. played . this news comes your life and then. western countries deal a blow to venezuela's embattled president nicolas maduro after you rejected their deadline to call new elections several european countries recognized his opponent as the leader of the country but what do insists he never. also coming up pope francis makes a historic trip to the united arab emirates the pontiff says he hopes to write.