scare away the tourists to talk to sri lankan state officials about convincing travelers to stay. i think is when it's your business it's off before they could even get their engine started italian u.s. group via chrysler wanted to build one of the world's biggest car makers by fusing with france's renault shares in both companies it shot up on the news it's abruptly pulling out blaming the french government and its demands it owns 50 percent over and over and wanted more time to review review the deal and get support from its longtime japanese partner instead french officials blame fia chrysler for trying to rush through the merger stock in the comic is getting off track today. and is at the frankfurt stock exchange for us what went wrong. when you mentioned france the government. owns 15 percent of all

new but the reports about the negotiations really sound like france the government there wanted to dictate the deal in total for once the government demanded that its share be valued higher higher than the current valuation of course no on the market is the reasoning behind this is that the french factories of the north are much more competitive much more profitable than the italian factories of fear but also the government in france demanded job guarantees for the french renault factories and last but not least it sounds like the timing wasn't perfect the japanese partner will go nissan was to be included in the negotiations but it seems there wasn't enough time for this so it's obviously got political but is this the last we've heard of it. no it's not already we've been getting statements from the french government namely from the public accounts minister dhamaal now who said

that the door is not slammed shut that he can't imagine that the talks be restarted again and you know ben if you talk to people on the trading floors 2 experts for the car sector a lot of them believe that a merger really makes sense that alone neither of the 2 car makers would be able and equipped well enough to face the challenges that all of the car makers are facing in terms of technological transformation it's going to cost a lot or booze and thank you very much for your insights. the european central bank has taken surprise action to bolster the 19 nation euro zone mario draghi says the bank will extend the earliest date for an interest rate increase from the end of the year 2 half way through next year and rates are at record lows e.c.b. follows other central banks in responding to fears about trade sanctions interest rates their current us president donald trump is threatening to slap tariffs on

another $300000000000.00 worth of chinese goods financial markets are on edge again the biggest concern is a slowing global economy wherever donald trump makes an appearance there's always one key question what is the likely outcome of his trade wars especially with china on thursday the president threatens to more than double u.s. import tariffs on chinese products. hardrock for a lot of interesting things happening. in the meantime we're getting 25 percent for $250.00 trillion dollars and i could go up another at least $300000000000.00 i'll do that at the right. but i think you're going to want to make you feel badly the chinese response wasn't long in coming. from the united states continues to escalate tensions we will fight to the end. beijing says it's commerce ministry's

poised to take retaliatory measures if the united states decides to escalate the conflict tensions between the world's 2 largest economies have mounted since the last round of trade negotiations collapsed at the beginning of may and neither of the 2 appears willing to result the conflict quickly. china has given the go ahead for its main state owned mobile carriers to start rolling out next generation 5 g. networks china is bracing against other countries to deploy high speed connectivity it's seen as a response to the trade war with the u.s. the move will lead to telecoms investment and vendors like weiwei it's been blacklisted by the way safety is it could be used as a tool of chinese state espionage denies the claims. india's central bank has cut its key interest rate by a quarter percent to $5.00 corporate investment and consumer spending

a faltering benchmark interest rate is what the reserve bank of india charges on lending to commercial banks going the right makes it cheaper to borrow. inflation in the fastest growing all the major developing economies in the world. now if you type sri lanka into google the next word the pops up is safe travelers want to know if it's a safe place to visit again as the president recently put it the tropical paradise had become one of the world's top tourist destinations until suicide bombers killed over 250 people in april. sri lanka's beaches were a favorite german holiday destination until easter sunday terror attacks now the country's hotels are almost empty when the last guests leave this the resort there won't be much to do here. all together we're giving

a 50 percent discount to our guests. normally at this time we'd be fully booked and have a lot to do. with. the resort has $170.00 employees entrepreneurs like ruan gallio archie were responsible for generating the tourism boom after the end of the country's civil war in 2009 germans tend to be the main customers for the eye of a to treatments here to other hoteliers turned their backs on well paid us i.t. sector jobs. being they're also part of the post-war founder generation in the capital colombo they converted this old house into a hotel many of their rooms are empty now but there's no talk of giving up things have returned to normal the business is operating the hotel industry is us to live if you will like the price does haven't opened up yet if you want to enter a hotel it's high security if it was bags that was not there before

a state of emergency has been in place since the easter sunday attacks the streets dotted with military and police checkpoints the search is still on for the terrorist supporters. is also to go after the attacks the foreign office upgraded its travel advisory by advising against any non-essential travel meaning tourism to sri lanka so german tour operators are not offering any trips to sri lanka right now. that didn't keep gabriella jack and see a way she has her own take on things. i am completely relaxed incredibly good no i don't regret taking on the risk which is exactly what it hasn't been that. theory of a the result has already taken a few bookings for the fall the sector is hoping lots of sign the tourists could be returning again so is it just tourism my colleague general to milan our strength

is development minister if investment had also taken a hit there was concern for a short word but the epithet is increasing but it's also important for the government to see to be in control again which we are and to show the world that we are in control which we are now doing again as well and not just to shore but really to have a safe sri lanka again just for the people as well as those who come to do business in sri lanka. now speaking of doing business in sri lanka let's talk about the hambantota part now this was of course handed over to the chinese for 99 years because of the inability to pay a loan how would you assess then sri lanka's overall participation in the baton road program. want to set the record straight on how month and how month and of course was built on a loan taken from the chinese exam bank and partly commercial loans and the loan

was a large amount we had to take a strategic decision as to whether we want to disserve this service this loan and have a port. and have the burden of growing that port the economy of that port as a government or whether we were going to take her have a public private partnership which is. part of the strategy that we're using to to to bring in investment to sri lanka we opted to take the p.p.p. route i see that there is revenue for the country coming in helping the economy and there are jobs coming in for the people supported by the industrial zone we're going to position there the port to grow even more industrial zone by itself to have its own. growth bringing in foreign income to the country as well as badly needed jobs for the youth of the country so this the how months at a venture has now been transformed into

a strategic move by the government of sri lanka from what i understand sir there have also been other development projects like the rajapaksa stadium or the rajapaksa airport that have not been as successful they haven't seen a lot of business does that detract in your view from the overall result of your partnership with china there are some inches not wrenches some of the assets that were put in place that are still redundant the stadium is completely out of place even the port. was out of place is still not completely in place if you take the port we built the port during the rajapaksa regime there's no water to the industrial zone is not ready the lands are not there for their zone haven't haven't been acquired there's no water for the zone there's no electricity for the zone and the people are not trained to take on the. possible look at the the plan vocational

with the vocational skills that are required so they work to backwoods we're not able to set all of it right in one go but we are in the process of working through and we have idea tree payment plan under control in sri lanka minister of shipping and southern development talking to our very own ginnell to milan and a reminder of our top stories chrysler has thrown its merger plans with renault out the window and trump has threatened beijing with hundreds of billions more in town i'm. not in business with it.

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