challenge starbucks in time. this is business asia. as in berlin welcome the u.s. government announced it will stop exempting countries from its sanctions on buying iranian oil from a second and anyone who still buys all from tehran faces a dispute the biggest economy in the world the price of oil was already on the rise up thirty percent over the weekend after the news from washington the pies took a significant increase brant crude the global benchmark cost nearly seventy five dollars a barrel on tuesday the u.s. sanctions policy is putting the global economy under pressure and is driving prices higher particularly in those countries that have benefited from the exemptions until now such as india. india's economy is booming its g.d.p. is expected to rise by seven percent and that economic growth is fueled by oil and so india is buying in large quantities from what iran is selling on easy terms

iranian crude is delivered free of charge a fully insured and with a payment period of up to sixty days excellent service but who will be able to fill the void. that's what india and seven other countries are asking themselves now that washington is getting serious about iranian oil the japanese comment on the end of the sanctions exemptions was diplomatic. we'll hold close talks with japanese companies in question and will take necessary measures so that japan's energy supply will not be affected. when i do not tell you look into his day when you join his answer has been less muted beijing's demand for iranian crude is second only to india's appetite. the chinese government is committed to safeguarding the legitimate rights and interests of chinese enterprises. we are willing to play an active and constructive role in

promoting the stability of the international energy market. turkey's struggling economy is dependent on cheap oil from iran and korea has heavily criticized the american move despite washington's assurances that saudi arabia and other countries would be able to quickly fill the gap i did you're offering oil from other countries and prohibiting oil from iran is going too far are you doing marketing on behalf of these countries it's not right to direct oil consumers to a few favored countries. whose also know that oil from these countries is very expensive. many observers agree that shutting off iran's oil tap will do more than just push up the price of crude america's move is also likely to stoke regional tensions in the persian gulf. as one of the biggest

importers of iranian oil eighty percent of its oil is imported how will this impact on the indian economy let's bring in that event p.k. from factor daley who joins us from bangalore jay there will be a significant shortfall for india can it get oil from other sources not sure whether jay can hear us try that one again jay can you hear us. i'm afraid we have to have some technical difficulties here and we have to come back to jay a bit later in the show our next topic a massive hydroelectric dam is being planned in myanmar to provide energy to the chinese province of you none but there are fears will also cause significant environmental damage and displays tens of thousands of people four thousand demonstrators on monday demanded that near mass president also in sochi chalk to stop the chinese project the contract was signed by the old military government ten

years ago led to the three point six billion dollar project mothballed but now pressure from china to build a dam is growing again. china's coffee company luck in the most truth is the most recent challenge of a global coffee empire starbucks is the venue of choice for urban coffee drinkers it's quite a task starbucks is strong on lock ins home turf the u.s. chain opens a new branch in china every fifteen hours lock in its capital's account of that kind of market dominance and that's why now wants to go public. to look in coffee start up came out of nowhere staking a claim in a rapidly urbanising china with a special fuelled energy where one starbucks reign supreme suddenly there's a host of looking at let's in china's new shopping malls and business districts to beijing based coffee chain wants to go public in the u.s. looking as applied to list on the nasdaq exchange and plans to raise red three

hundred million dollars in the i.p.o. since june twenty seventeen look at has expanded into two thousand three hundred seventy stores in twenty eight cities with backing from investors including the singapore sovereign wealth fund g.i.c. and china international capital corp by the end of this year look at names to become the largest coffee network in china in terms of number of stores. looking is taking aim at starbucks which is open to three thousand six hundred stores across one hundred fifty cities in china are we competing with starbucks probably to some extent we don't really care if the demand is coming from new coffee drinkers or from starbucks coffee drinkers we're going to make sure that people are happy they come back to us and they buy more product. look inside later cashless and designed for fast pick up as well as delivery with an app that rushes out deliveries in about eighteen minutes call relational to the. i don't think there's too much difference in the taste starbucks and look ins to pretty much the same. there's no

big gaps they're both delicious huge. military it's a little of. the caffeine fueled expansion and high marketing costs have seen its losses explode last year looking to one hundred twenty five million dollars in sales but racked up a loss of two hundred forty one million dollars. coming back to top story the end of the sanctions exemptions for buyers of indian oil i think we can now talk to our correspondent in bangalore j p k j if you can hear me i hope you can there will be a significant shortfall for india one of the biggest importers of iranian oil can get india oil from other sources. so that india's third largest consumer of oil in the world and a majority of for disapproval from oil from countries like iran saudi mexico and it looks like india is going to have to source or oil from alternative sources so in

this oil minister said as much earlier today that you know we're going to our source oil from mexico and saudi and u.a.e. and other countries but this is definitely going to push prices up for india. what's the economic fallout of this move on india. reman so this is going to push oil prices which is already happening and. as you reported earlier today that there are some analysts are also predicting that the price could end up somewhere between a people eighty five dollars a barrel which means you know it has a cascading effect on india's fiscal deficit it has it has an effect on inflation and in part on the prices of goods definitely not a good story for india. in bangalore thank you very much. a bit over a year ago china literally stopped top taking the trash out up until then china had

been processing up to seventy percent of the world's recycling with dire consequences for its own environment now that it has reduced taking other nations rubbish countries like australia to stop shipping the problem overseas and down under us was citing industry has to tackle a growing rubbish crisis head on. australia has a stinky problem after depending on chinese infrastructure for over twenty years there's just too much rubbish to handle. spicing why straw says. we thought of the solution the word of the time is circular economy and this business does just that up cycling old plastic and grinding it down to granule it to build new asphalt roads. we recover resources and we re-use them so when not just to restock but in a national endeavor australia searching for more concepts to keep precious

resources from going to the landfill this waste to energy plant is one of them. what we're basically doing here is converting food wise csaba nubile energy using the gases that's produced when you stop the wise to voltage and. the plant can process thirty three thousand tonnes of rubbish a year creating enough energy to power nearly seven hundred fifty thousand homes but building waste to energy stations is to turn the capital intensive critics are demanding similar legislation as in the e.u. where waste disposal is only seen as a last resort and so the cost of putting a wise thing to a landfill is much harder than it is even astride it. because almost it will every option that's a bottle of bullets an alternative to landfill is more expensive excessive waste is not just a mistrial ian problem but a global issue more countries will need to move towards a circular economy to keep the earth sustainable for over seven and

a half billion people. japan's prime minister shinzo alba is on an eight day tour of europe and north america he's preparing for the june g twenty summit which japan is hosting. it was met at the elysee palace in paris by french president manuel markel it is a firm proponent of global free trade and he's looking for common ground amongst leading trade nations during his meeting with mark kong also pledged financial assistance for the reconstruction of the notre dame cathedral following its recent devastating fire. samsung is postponing the launch of its hotly anticipated two thousand dollar folding phone after reports of breakage is early reviewers called the galaxy fold on the usable just forty eight hours after receiving the device south korean firms an inspection

suggested the breakages could stem from impact on quote exposed areas of the hinge the delay is a setback for some song as it seeks to battle stiff competition from rivals like huawei and apple's new release date is due to be announced in the coming weeks. whatsapp thing. that's it from me and the business as a team here in berlin for more business news and lots of background stories check out the w dot com slash business thank you for watching stay tuned now for. right after this quick look.

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