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fantastic write. that as they set out to safety environments. that i've learned from one another. and work together for the future. comfort. w. . x. . chinese leader xi jinping begins a historic visit to north korea so can beijing reassert economic influence over its excitable neighbor days before a crucial trade meeting with u.s. president donald trump. also on the show 4 years have passed since a devastating terror attack on a tunisian beach resort killed dozens of foreign visitors now terse to returning to the country. and looking for the perfect wine to pair with fish how about a bottle that itself was pulled from the sea. this is your business report i'm

stephen beers in berlin thanks for joining us. she jean ping has become the 1st chinese leader to visit neighboring north korea in 14 years and that's a sign of improving relations between the 2 traditional allies despite a drop in trade between them both president xi and kim jong un will want to make sure that their economic ties remain strong especially as she prepares for a crucial meeting with u.s. president donald trump and north korea 6 a nuclear agreement with the u.s. . the chinese president's arrival on north korean soil was a momentous one clearly not everything that crosses the border between the 2 allies he said with such excitement most of the exchanges between china and north korea happened here the friendship bridge across the yalu river 70 percent of bilateral trade passes here between dandong and the north korean city of sin nature you traditionally heavy metals made of a big part of that trade the u.n. sanctions imposed in 2017 banned exports of them to and from north korea with

electrical coal cars and textiles also subject to restrictions un sanctions have taken their toll in 2800 exports from north korea to china are thought to have dropped by 88 percent trade in the other direction fell by a 3rd. north korea can at least rely on one commodity crossing the border the number of chinese tourists is that to be at a record high trade relations are healthy enough that a new border crossing was opened in april this year and around the same time north korean officials were invited to a key summit on president she's flagship belts and road initiatives the maintenance of imports and exports remains essential to both countries kim jong un needs china's help to develop a struggling economy and beijing needs influence over its unpredictable and excitable ally. and a look at global markets a hint was all it took for the u.s. federal reserve which signaled that it could cut benchmark interest rates as early

as july and thus provide provoked a big impact on global markets now just look at gold the price rising to its highest level in 5 years on thursday it reached around $1386.00 an ounce that's a rise of almost 3 percent on the start of trading. and let's talk now to yens korda our financial correspondent in new york yes we see what happened to gold there how is this driven by a fed decision to keep rates unchanged. well i mean those surprise clearly show you that the markets in general are expecting or not expecting there is certain that there will be a rate cut at the next fed meeting by july abets that this will happen actually stand at about 100 per cent in the outlook for lower interest rates in the united states did put some pressure on the u.s. dollar and you see that quite often if the dollar drops then gold becomes more

expensive your pay for gold in a dollar and if the dollar decreases that makes it more attractive for foreigners to buy into gold so that partly explains this big swing that we saw for the price of gold so markets here seemingly getting ahead of the fed why are they so certain that an interest rate cut is coming. when i talk to people over here. quite a few are saying that we have no inflation we do not really see big inflation and we don't not see it in the united states you do not really see it anywhere on the planet dried now and so with inflation being an old this is one reason why not just the federal reserve here in the u.s. is playing around with the idea of cutting interest rates but also money is cheap all over the globe and then well but this is just a guessing we might see a monetary policy we might see actually currencies being a new vehicle to get

a competitive advantage against rivaling nations and you have to ask about oil prices they jump today on us iran tensions what's the big concern for the markets. now well i mean we did see a quite a big jump in the price of oil almost up by 6 percent and also by the way it's partly because of the u.s. dollar that's also what we see off in dollars. oil prices higher and then for sure also the tensions in iran but it's interesting i did talk to an oil expert and he told me well think back a couple of years if we would have tensions as we've seen them right now in the gulf and between the u.s. and iran big then oil prices probably would have to $8090.00 are underage dollars per barrel but in today's world where the u.s. is the biggest producer of oil on the globe the dependency on oil from that region

at least here in the united states and it's by far not as big as we've seen it in the pocket pozzo yes we did see a big swing in the price of oil but thinking a couple of years back this was would have been much bigger an interesting point about how much oil production has changed with the latest from new york. and over to europe now e.u. leaders have extended punishing economic sanctions against russia over the conflict in ukraine for another 6 months the penalties include curbs on russia's valuable oil business as well as the defense and finance sectors the block 1st put sanctions on russia for moscow and next crimea from ukraine and 2014 the decision comes a day after dutch lead investigative team charged 4 men 3 russians and one ukrainian in the downing of a malaysian airlines passenger jet in east ukraine. over africa tunisia's tourism industry was devastated by a terror attack in 2015 which left dozens of foreign visitors dead or injured and many would be visitors then switch to safer european destinations but now they're

back coming back to the desert to diseases come back as a holiday destination is gaining momentum memories of the appalling attacks have faded the political situation appears stable and the appeal of sun and sound design diminished. it's also a good value destination for a holiday compared to european or asian resorts and travelers get there quickly from europe. there were $2300000.00 tourists in the 1st 4 months a rise of nearly 20 percent over the previous year it's a cause for optimism to share the forecast is for $9000000.00 tourists in total an all time record hoteliers are pleased to be our hotel as 100 percent occupancy since april we're very happy about the return of confidence in tunisia. and it was. he's not the only one who's relieved 2000000 chin is ian's depend directly or indirectly on the tourism sector it's one of the most important sectors

of china's economy accounting for 8 percent of gross domestic product and there's plenty of potential for growth desert tours through the northern sahara or visits to national parks like to may for many species of animal have settled the government is investing in infrastructure and soon they hope eco tourism will bring in new revenues. and while we talk about tourism holiday makers could find themselves grounded by strikes once again this summer german cabin crew union is calling on the tons of stuff to take action in july over wage dispute euro wings and german wings both with tons of subsidiaries could be hit the hardest the union is expected to vote next week on whether should take action and it could be joined by others have tons of stuff for the airline says the strikes would actually violate an agreement between the 2 sides and it says it's considering legal action . so you're looking for

a new bottle of wine to impress your friends how about one that was aged in barrels that were placed under water the ventnor in this in this case describes the wine as silky and connoisseurs might just a tech notes of clever marketing. but now it's no ordinary diver it's a wine maker on his way to work. burckhardt serato runs a winery with a difference his wines are aged 20 meters under the waves made from tempered and other spanish grape varieties the winds are stored for up to 18 months water pressure total darkness and constant temperatures accelerate the aging process and add complexity to the wine. are ones can be slightly disconcerting at 1st that's because you kind of associate them with a specific region of origin but the true flavor of the great comes through their silky and easy to drink. which goes with. the price includes barnacles and seaweed a bottle costs between $60.00 and $100.00. we realize the sea offered us an

opportunity to develop a new project. we've seen in other places how bottles recovered from ship wrecks good valuations at auction both in terms of viniculture an economic value. so we thought of the sea had a hidden secret that allowed for the wind to evolve differently than. the underwater wine cellar is located 25 kilometers from the coastal town of bilbao in spain's basque region the government has provided the company with 500 square meters of sea bed because it also functions as a kind of nature reserve placing the winery there we create a protective space where many species can hide and build their new home for us it's very important to help the sea and the ecosystem and that's what. the wine is a treasure from an unconventional wine cellar it's just waiting to be raised from the depths and above all to be tasted. something new for you. and that's

it for me in the business. of course find out more about these and other business stories on our website www dot com slash business stay tuned right after this look at global markets it's watching.

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