Skip to main content

tv   Business - News  Deutsche Welle  February 8, 2019 5:45pm-6:01pm CET

5:45 pm
suspended production at three of its mines that's because the country's central bank has failed to honor its commitments to pay for gold deliveries in u.s. dollars the move comes only months after the company threatened legal action against the bank for quote significant and persistent delays and dollar payments gold is the most important export but several mining companies say the shortage of dollars is hampering their ability to expand and start new projects now this is only the latest development in an ongoing cash crisis which is affecting people around the country and as you'll see in our next report among those who have been hardest hit. hard you terri makes a living farming the fertile soil and southeastern from barboy she has five hectares of land and her tomatoes are doing well this year despite the dry weather she's generally used to good harvests but this season she'll be leaving part of her
5:46 pm
land fallow the reason zimbabwe's cash crisis. if i'm going to do things that i'm aware you know when we try to buy c m the vendors want payment in us dollars but we only have zimbabwe and barney notes and if we use them to pay the same seeds will cost far more than we can earn later so we make a loss when it was as it was it is zimbabwe was once called the bread basket of southern africa but those days are over the agricultural sector has imploded. government policies have left the country impoverished and cash strapped zimbabwe no longer have an official currency instead it has bond notes a surrogate currency which continues to depreciate the government does not have enough foreign currency to pay its debts or to finance sorely needed investments that's not only a problem for small farmers calista come i my virally owns more than eight hundred fifty hectares of land on them he grows vegetables in greenhouses but there are
5:47 pm
literally crumbling this was a complete chaos but the time that people were there was actually quite upward so we had to actually destroy but now the problem now we're facing is that we can't or stuck to the gales cause the coast off producing one is very expensive for us only four out of fourteen greenhouses are still in operation the others are to run down for him to grow vegetables in them he'd like to borrow money to fix them but he can't get a bank loan. so for now he's plowing just twenty of his one hundred fifty hectares of fields he blames legislation for the plight of zimbabwe's farmers. we have to do all these by door to door deeds and along the bank a ball because the lender form came in this way or the. land belongs to the state saw. we actually if you have a car you have to use a car or house in town for you to get a lawn. but that's too little to keep
5:48 pm
a farm of this size going at the moment he only plants crops on a small part of the land he's plod and he hopes that his tractor doesn't break down or he won't even be able to do that. let's bring in privileged muslin here who joins us in suburban capital harare good to have you with us privilege how can somebody get its currency crisis especially hyperinflation under control. solution to. the crisis at the moment economists say that. zimbabwe needs to boost production that is the major problem because right now these are nor are they are not exports literally nor exports that are going out of the country saw these nor generation of foreign currencies that has to come into the country and particularly if you look at the agricultural sector that's the major four x.
5:49 pm
in a for zimbabwe and tobacco is the only forest and that is bringing money to zimbabwe and it's a seasonal crop which only comes once a year saw that is the major problem these need to fix production particularly in the manufacturing sector where production is law how big a problem are those financial sanctions that are still going on i mean kenyan president kenyatta this week said that he would support zimbabwe so that those painful sanctions would be lifted how likely is that. judging from the events of the past six months since august the fifth when it was about we just had the elections in july it is becoming increasingly difficult for whatever sanctions that have been forced on the country because of human rights violations there have been a lot of things that have r.p.
5:50 pm
and i think the death of the six people in august that was short by the military when protesters were protesting for the release of the results and the recent events in january increasingly making it difficult for the international community to consider really moving sanctions that have been imposed on the country because these would help to. credit lines that have been not coming to zimbabwe for the past twenty years most of the international lenders are not to lending zimbabwe because of the sanctions right privilege. their reporting for us from how. capital thank you so much. the c.e.o. of struggling south african energy giant eskom says the government should take on some of its dead presidents iran opposer used his state of the nation address to
5:51 pm
set out a plan to save the firm by splitting it into three problems with eskom have led to blackouts and there's dispute about the best solution the company c.e.o. wants the states to assume part of eskom stance of more than thirteen billion dollars. meanwhile the south african rand weakened against the u.s. dollar following rama poses address a sign that investors aren't fully convinced by his economic prescriptions and that they expect new elections to bring added turmoil the round fell to a week low of thirteen point six six a dollar raising a recent search against the greenback the rand has been under pressure over the past year as risk investors flee emerging markets for safe havens like u.s. dollar assets. if you support the idea of a basic income to fight poverty for instance listen to this finance government has just revealed to the first findings from a two year basic income trial researchers say providing
5:52 pm
a basic income did not the unemployed to find work in january twenty seventeen two thousand unemployed finn's became the first european citizens to be given a guaranteed basic income so a wage that would be paid regardless of whether they worked or not and they were also no requirements that they looked for a job last year the finish government said it would not extend the trial to the wider public and the first findings from the highly publicized trial seem to back up that position. here in europe the european parliament has backed a compromise between germany and france over the controversial north stream to gas pipeline it will see berlin continue as the main negotiator with russia on the project which will bring russian gas to germany under the baltic sea. six hundred kilometers of the nord stream to pipeline have already been installed but the political problem surrounding it has still yet to be resolved this week france
5:53 pm
added its voice to those feeling uneasy about the project. this is what's at stake the pipeline would transport gas from russia to germany via the boat exceed the project in its current form is operated by the russian state energy company gazprom. and that's exactly what critics including president trump of the united states object to. the dependency from russian gas oil increase jessica lee with us knew a pipeline and that's the reason why they constructed. it contradicts obviously the european goals not only of the energy union but in the future we will see less gas demand because of climate policy and this is the reason why this pipeline is completely on the canonical front surprise its allies on thursday saying it plan to back e.u. proposals to extend the block's energy rules to cover gazprom but now a draft document suggests paris and berlin will together insist the e.u.
5:54 pm
member state where the line first connects should enforce the rules it's a win for the project but with other objections on the table is far from full steam ahead. all right just bring us up to speed i'm joined now by the boss in your research fellow at the oxford institute for energy studies in paris good to have you with us please enlighten us why is the project so controversial. i think when a guy has you say to them it's very controversial because we have a division between the e.u. member states we have a division. you commission and that you parliament where again state and interesting enough the direction and gas from one says is to be there as fast as possible because if you build it as fast as possible or then whether everything changes the regulation is not going to happen so i think it's a question of controversy. and speed of who is going to achieve.
5:55 pm
targets i.e. the new e.u. gets their active all the construction and operation of these new parts ok so it's something like a race against the clock but then we heard to all of this compromise that's been adopted what does this latest turn of events mean for the project. well i think this is a testimony is that this is all about i mean what we heard yesterday was that france was going to be in favor of the new e.u. directive and this could have means that the majority of the member states would have moved against him too as as you stated germany is the strong supporter of this pipe and has been i think it's cute to sign and to reach a compromise but he said as a compromise that i would germany to implement the rules and see what they can say yesterday we would have to say that the fate of those big guys think might be the case that france was going to europe again but with this compromise i mean this new
5:56 pm
directive will have very little impact on north stream to. they're speaking to us from paris now the next generation of bullet train has been unveiled in japan the alpha x. made by hitachi will have a top speed of three hundred sixty kilometers an hour it's twenty two meter long noses designed to reduce pressure on noise as it passes through tunnels it's due to come into service and twenty thirty when the comes in line is extended. business africa here in the w thanks for keeping me company.
5:57 pm
5:58 pm
every journey begins with the first step and every language the first word how much can you call the coax in germany to the trouble. why not come with him. it's simple our mind on your mobile and free. will be using the course speak german made easy. not all think out of the jam. just sometimes i am but i said nothing which cannot be said to have been thinks even for german culture of looking at the stereotypes question but in your thinking seems a country that i not. yet need it seems to take fullest drama day out to me it's all about. bob no i'm a joke join me for meet the german sunday w. . post once upon a time there was
5:59 pm
a young girl. with a burning ambition. to become a conductor. evison very curious child and very excited and in love with music and i would go to concerts with my parents and always. near him for being on stage with the musicians and being part of that magic it was a difficult trudge the first girl says she was told to become a doctor but this girl could other ideas and one day she really did become old world famous. among the. lamaist to. start the canary on t.w. .
6:00 pm
plane blag. the first. plane. this is e w news life for berlin disaster strikes at one of brazil's most famous football clubs we have janeiro's flamingo is in mourning after a blaze tears tears through a dormitory for young players local officials say at least ten are dead but several others severely injured also coming up to european a lot of american officials have joined forces to call for a peaceful solution to the venezuela crisis but will ask a german lawmaker what can your family do the assault the party hours.

21 Views

info Stream Only

Uploaded by TV Archive on