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 earth turning 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 il 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 is weighted 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 metal is made of a big part of that trade but un 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 thought to be at

a record high trade relations are healthy enough that a new border crossing was opened in april this year and is around the same time north korean officials were invited to a key summit on president she's flagship belts and road initiative. 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 ahead it 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 promote 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 young's quarter 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 at about 100 per cent in the outlook for lower interest rates in the united states put some pressure on the u.s. dollar and you see that quite often if the dollar drops then gold becomes more expensive you 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. well 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 a solo 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 monetary policy we might see actually currencies being a new vehicle to get your competitive advantage against rivaling nations and i have to ask about oil prices they jumped today on us iran tensions what's the big concern for the markets. now well i mean we did see 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 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 and 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 for min 3 russians and one ukrainian in the downing of a malaysian airlines passenger jet into 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 is on 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 tourists in the 1st 4 months a rise of nearly 20 percent over the previous year it's a cause for optimism this year the forecast is for $9000000.00 tourists in total an all time record hoteliers are pleased. our hotel has had 100 percent occupancy since april we're very happy about the return of confidence in tunisia. he's not the only one who's relieved 2000000 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 me were 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 other 2 tons of stuff 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 when pressure 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 much as the tech notes of clever marketing. now it's no ordinary diver it's a wine maker on his way to work. for ocho runs a winery with a difference his wines are aged 20 metres under the waves made from temporary low

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 complexity to the wine. are ones can be slightly disconcerting at 1st because you kind of associate them with a specific region of origin but the true flavor of the great comes through there silky and easy to drink. and which goes with. the price includes barnacles and feel we eat a bottle costs between $60.00 and $100.00 the most. of what we realized the sea offered us an opportunity to develop a new project. you know we've seen in other places how bottles recovered from ship wrecks got good valuations at auction both in terms of viniculture and in economic value. so we thought of the sea had a hidden secret that allowed for the wind to evolve differently than on land you know which of these things are not going to give us the under water of wind solar

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 and will be that i do my placing the winery there we create a protected 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 what are. 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 your wine cellar there and that's it for me in the business team here of course find out more about these and other business stories on our website dot com slash business stay tuned right after this look at global markets it's watching.

but you are no one on. the length of. exposing injustice global news that matters to me the minds. i am. it's been 50 years since the moon landing. he was the 1st man to walk on the moon. where. as a small boy she dreamed of the stars. as a pilot she flew anything no matter how dangerous. or go to the pole. as an astronaut she took part in the greatest adventure in history.

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