hunger and the thank you so much. this is day w. our business africa there with monica joins us up next i'll be back at the top of the have a good day. coach of british police. doing link to news from africa and the horrible story link to exceptional stories and discussions from oh news of easy town where i would say debbie to come snatch coffee coffee join us on facebook that africa. dismissed for to tell us about. let's ask her. let's experience a modern museum centered with her question cultural heritage foundation berman

researchers are looking for answers in more than $5000000.00 objects each object relates part of the history of mankind. russian cultural heritage foundation. treasure trove starts june 21st on t.w. . oil markets are in turmoil hot attentions in the gulf of oman escalated to oil tankers were attacked close to the strait of hormuz adding to fears of vital shipping lane of a global all supplies could be cut off. also coming up cocoa producing countries have never accepted much leverage when it came to prices but now they're flexing their muscles. and investment in africa's a blue economy that's what's. basic things like fishing aquaculture and transport

the focus of a feeling conference. i'm want to come to a business africa and 1st the story that shook oil markets this stay we're talking about the attack on to oil tankers close to the strait of hormuz one of them allegedly hit by a took paedo the brant crude prize has been volatile since the attack hitting over $62.00 a barrel immediately after the news broke the strait of hormuz is one of the world's most strategically important choke points along the coast of iran almost a 3rd of all liquefied natural gas and almost 20 percent of global oil production has to squeeze through here to escape the persian gulf and get out into the well it's. well for more on the impact there on all markets so we're joined by our financial market correspondent in frankfurt only what's this latest incident mean for the oil market. i think it's too early to tell what it means in the medium term

in the long term talked to an analyst and he says the immediate reaction and today was partly also a result of oil going down so so much in the past days and he says that if this continues of let's say there's an escalation if there should be firm evidence that iran was behind the attacks in the us should react perhaps militarily then it would escalate and that would send the oil price back up in late april it was much higher than today so there's still a lot of room for it to move but certainly it's something that people are having their eyes on apart from the oil market in equities for example stocks or in safe havens like bonds or gold there's not movement away from equities into safe havens for example we just saw some very dramatic pictures that we as you were talking about those all time but ending if things were to escalate further would just leave europe's oil supply. well europe would not be directly affected at least not in the

beginning because most of the all for europe comes from other places leading suppliers or russia norway cause a stop on nigeria but on a list say of course europe would be affected through price in the world markets going up you can't contain something like this regionally price wise so that would make working consuming investing earning a lot more difficult for everyone concerned if this escalated into any best and from for thank you so much. well the price of cocoa has risen sharply after ivory coast in ghana demanded a minimum price for what is the base of the world's chocolate the move has been seen as an historic attempt to shift the balance of power away from big companies and back to produces and here's why it's such a big issue at present the world's coca market is worth around $100000000000.00 but of that only $6000000000.00 goes to farmers and that is

a major headache for ivory coast and ghana because together they produce some 60 percent of the world's cocoa but because they traditionally haven't had a say over prices the country's farmers have been especially vulnerable to market fluctuations and that's now set to change after the nation said they would no longer sell cocoa for less the $2600.00 per tonne about $150.00 more than the current average price for more let's bring in who joins us now in akra and i'd like if you can hear me already could you please tell us what impact will the new minimum price have on the cocoa business in ghana and ivory coast. what the interest in growing cocoa in the few years spaza has been dwindling because people thought we're not getting the pride the right price for what do we actually produce him and so the new pricing means that people will have the

interest in going back into production of the cool because it is an important produce and it sector for these 2 countries so the other impact of your city will be that these 2 countries can wreak in more revenue because this is a produce that i see is contributing much greater part of the revenue base in developing countries so that is they mediate the impact of this new pricing all right and i said of course we all also heard that farmers had to bear the brunt of the fact that there was no minimum prior. with this new the agreed price. yet they are happy by it appears the happiness is limited because many of them i've spoken to since the news broke of the new pricing have say that saying has been that the percentage of revenue that they get when they're being is has been so small that they want to opt for example currently they don't get

a system that's just a 5 percent of the revenue doc comes from the. they one that's up to 70 percent so even though they are happy about their price and they think that they need great top part of the money went government so that being on the international market but you also think that if value can be added to the cocoa bean locally they will be able to get more revenue so they are happy by limited ok what about the other end of the spectrum and the consumers will end consumers feel a difference. well the different brands will be uprising of cocoa from the international saying all foreign chocolate are produced book chalky that are produced from other countries apart from these 2 countries will be going up the price will be going up because the cost of production will be odd because the cost of the cocoa bean will be up close you must obviously quote i suspect that prices of the chocolates will be up because most of the chocolates consumed in ghana and ivory coast in other parts of africa come from your open

american and up parts of the world not from. i just very briefly will the color market at least in ivory coast in ghana the staple of for well the next foreseeable time after this base of flow price has that agreement. yes because it appears that the meeting that was held in a crowd was to push for something to be done about the price and because they are tempted was if nothing was done then you could destabilize the whole system by stopping to produce with this new price in relatively for the coming years i'm sure that it will have some stability but i'm sure that will continue to push for better value all right. reporting from across thank you so much and now to some other business stories making the news. the world's largest sovereign wealth fund is

moving out of fossil fuels and moving towards green energy norway's parliament is forcing the country's fund to pull around $11000000000.00 euros out of over $100.00 companies specialized in oil gas and coal a besides protecting the environment also helps to protect the fund from oil price fluctuations. talk caught in germany has ruled that the industrial scale mass slaughter of male chicks remains legal for now male birds cannot lay eggs and yield less need the unwanted animals are gassed and shredded on hatching 45000000 the killed in germany last year the court said to the killing can continue until a reliable method of determining gender before hatching is developed. how's this for a used car ads for sale one well loved to been to car one previous owner with objective c. to 4 backseat drivers machine guns and to tie a slashers james bonds iconic aston martin d b 5 is going under the hammer restore to the 2 original condition sotheby's expected to sell it for $6000000.00 later

this year. at a german african conference of berlin today representatives of government business and civil society was discussing investment opportunities in africa's economy that is a part of the economy closely linked to water fishing aquaculture or maritime transport the blue economy could play a major role in africa's structural transformation sustainable economic progress and social development. fisherman in senegal fear for their livelihoods declining stocks mostly due to an increase in european and chinese trawlers and their waters are pushing can close jobs on the line. the problem is being felt in many other african countries to. no surprise then that the issue was on the agenda at a meeting of african and german business representative taking place in berlin. countries that don't have the means to monitor their own waters tend to attract illegal

fishing vessels. that lead to huge losses huge financial losses for us that is why we need more investment in survey in. more than 30 african countries have a coastline and 90 percent of the continent's imports and exports go by see that strength and calls to invest in the so-called blue economy a term that refers to harnessing the oceans resources to promote economic growth. we have the resources. we have to we have to see we have minerals we have other form of things that if we can manage it well and combine with technology from western country. technical help from the western countries or together can make this happen the main challenge is 1st of all the change of attitude because

the economy has to be sustainable it has to take care of the oceans and the way we do we cannot mix now in the world has proven to be wrong and the oceans are not healthy and this is the reason the oceans are on healthy marantz of polluting plastic waste which wipe an estimated $13000000000.00 off africa as maritime economy every year money if saved that could well be invested elsewhere. kenya's government has unveiled its budget plan for the next financial year it includes proposals to reduce government debt and to make it easier for private companies to access loans the country has one of the fastest growing economies in east africa in 2018 and posted growth of more than 6 percent thanks to a strong harvest. a company run by private security firm blackwater has found a erik prince has registered a subsidiary in democratic republic of congo with

a mandate to extract minerals and timber and to conduct financial operations prince sold blackwater in 2010 after several of its employees were indicted on unlawful killing charges in connection with their work as u.s. government contractors during the iraq war is hong kong based company francesa business group already provides security aviation and logistics services to chinese operating in africa. and that drops up a business africa for me and the team here in berlin thanks for keeping us company .

bursts. home. of species. forcing to. give those are big changes that must start with small steps global interiors tell stories of credence people and innovative checks around the world. that country. boost green energy solutions and reforestation. interactive content teaching the next generation about the

2 protection. using channels available to people to take action and when to turn it into doing something here for the next generation along as the environment series of global 3000 on d w and online. is d.w. news africa coming up in the next 15 minutes the us sends its top diplomats to offer a cop to help mediate between the conflict in parties in sudan. efforts arriving at little too late. to reverse a town in south africa family on its way of winning the box all against high rates .