2 countries restored relations in july last year following years of hostility. michael jones is up next with the business south africa for world news at the top of the hour and of course it's always sat around the clock on the web site that's t w dot com for the day. and for. language courses. video. anytime anywhere. w. . the charge of the famous naturalist and excuse. to sunny rachel

alexandra from the world's 250th birthday or embark on a voyage of discovery. expedition voyage d.w. . jacob zuma is to stand trial on corruption charges from south africa's high court has just denied to the country's former president a permanent day off prosecution. running out of oil could explore new rich oil wells if only it topped the money to do so. but come to a business africa but then good to have you with us and we're starting with the latest development in a major corruption trial. in south africa our former south african president jacob

zuma has been denied a stay of prosecution to prevent him from being charged in a graft case relating to a 2 and a half $1000000000.00 arms deal efface is 16 charges of fraud racketeering and money laundering. zuma held office from 2009 to 2018. he is accused of taking bribes from french arms manufacturer tallis in 1900. 60 in charges of for old racketeering and money laundering to be struck out but a judge in pietermaritzburg moved against him. up a commission for what she called the d.c. system and the piece number c c d 30 spoke to 2018 was dismissed cost such a cost improved consequent to 100. 77 year old politician was ousted last year after almost a decade in power he was removed following

a bitter internal battle within the ruling african national congress party his lawyers argue that he had been treated unfairly by prosecutors and was a victim of a politically motivated witch hunt the ruling means 2 months long awaited trial will start on october 15th. his government us turn to cannabis as a new source of income for its ailing economy it's approved plans for the country's 1st hemp farm and production plant the 1st organization to be given a cannabis research license is harare zimbabwe industrial hemp trust it celebrated the sowing of its 1st hemp crop on friday industrial hemp because of a variety of a cannabis grown specifically for industrial uses derived products it's fibers used in textiles and paper and it seeds are edible. to angola now one of africa's major oil producing countries that's run into trouble the state needs money on the 1st of october the government in rwanda introduced

a new value added tax and a few days later for the 1st time since 2011 it put new oil concessions out to international tend to the problem the presumed to oil deposits lie a few 1000 meters below the ocean surface which makes the wells very expensive. for many years the oil rigs off the coast of angola were guarantors of growth but the black gold is no longer bubbling out like it was a decade ago. the established wells are running dry oil production has fallen from $2000000.00 barrels per day in 2008 to $1400000.00 barrels per day this year or almost a 3rd less that's a dramatic drop for a country whose tax revenues are largely derived from oil new wells are needed and experts say there's plenty more oil in angola is coastal waters the government has put 10 separate areas out to tender but exploratory drilling is not without

financial risk and offshore exploration is declining worldwide the current relatively low oil prices make big multinationals sharry away from the high investments the extent to which angola is suffering from the fall in oil prices is reflected in the country's gross domestic product which has been shrinking for the last 3 years. the international monetary fund is forecasting a slight increase of not point 3 percent for this year. the i.m.f. granted angola a loan of $3000000000.00 last december meant as a bridging measure and its oil industry is expected to be back to profit again by 2021. now for more let's bring in andy executive chairman of the african energy chamber and also the author of several books on the energy industry he joins us now in capetown where the 4th annual africa oil and power conference is coming to a close good to have you with us on the program let me start by picking up on the

last sentence in our piece that the oil industry not going to expected to be profitable again by 2021 faced on what. it's called me based on new economic policies that do fall in place to restructure it i think angola is facing a production decline and that is going to hurt the economy for a little while but what is beautiful is that the government has put in in in place some new series of regulations so new series of improved environments for example day are going to be sites what you would see were taxes they are providing incentives to our companies to drill margin our worlds and leave margin our fields you're putting new concessions there and you're making it easier to do business so if the if these these new incentives these new policies are put in place and

implemented their research ends indorsed they're all on gas and investors might find that all angolan love again and go out and vest and put money and drill but it has to be closely monitored we have to quit close to push it and drive it and it is in the us or ford because it has to really benefit people and benefit the economy right and this is also what your latest book billions at play which was released and summer is about it's about focusing on how energy can work better for africans how would that work in the case of a goanna. the what how and who would work better for angolans is going to come of doubts cation you cannot rely only on oil companies pay in rents to the government and government using their grain to pay to to pay for everything in the country we have to empower

people we have to drive people up we have to really start believing in free you market capitalism as the best pass to prosperity for angolans us how we do it we diversify from the oil and gas from the oil and gas industry you start investing karcher you start investing in gas to power projects you start creating an environment where everybody can do business and also create jobs and create opportunities and that's what billions of plays about is a great book by the way it's 2999 on amazon and it's been doing very well right now a big bestseller and golan's are going to do so well we when you look at i was fighting the economy going to mix so much and the i really going to see a lot more wealth come out of the resources. actually irons as angolans as well with a lawyer suite on the government or right now i understand we have any idea that stank you thank you so much for your time and your impertinent i'll definitely look

that book up thank you so much. global oil prices rose slightly after what is believed to have been a missile strike on an iranian tanker in the red sea benchmark brant crude oil rose over 2 percent in trading to reach $60.40 a barrel after that bt was hit off the saudi port city of jeddah the ship was headed towards iran's ports in the gulf it was the latest strike by an unknown attacker. next week the u.s. will impose a 25 percent or levy on a range of agricultural products from europe it's doing so after the world trade organization ruled that the you had been illegally subsidizing aviation giant airbus to the detriment of its u.s. rabba boeing while this dispute is still going on european food producers sounding the alarm. this is parma the italian province that's been producing hard

cheese for 9 centuries. journey back to nelly's family has been at it since $895.00. much of his product is banned for the united states it's the 2nd most important export market for parmigiano after france but one week from now the cheese will be subject to a 25 percent tariff. or better. for the whole region of parmigiano reggiano for those farmers this was a slap in the face because of course when we no longer have that export market for the cheese will be forced to lower the price here and after that we won't make any money everything we earn is from parmigiano reggiano. parmesan cheese is just one of many european agricultural products the united states is targeting not to the world trade organization ruled that the e.u. had been illegally subsidizing aviation giant air puff other goods affected include

french wine. and spanish almost. in madrid farmers have been taking to the streets to voice their opposition to the levy. but are not good nobody trump wants to impose a 25 percent tariff and we can't compete at that price in the traditional olive groves are going to ruin them. with trade tension between the united states and the european union he sing up many farmers fear and all of france alone won't be enough to end this dispute. and that is some of the other global business stories making news. french carmaker run no has fire chief executive officer of evil all that comes after reynolds partner named a new c.e.o. both com makers wanted to get past the scandal around former chief carlos goan

jailed in japan for alleged financial misconduct. the c.e.o. of german software manufacturer a s a p bill mcdermott has unexpectedly resigned germany's most valuable listed company has not given a reason for his departure after 9 years in the post he's been replaced by board members jennifer morgan and custom klein with immediate effect. the u.s. federal aviation administration has been accused of failing to properly review the safety system on the boeing 737 max an anti stall mechanism has been blamed for 2 deadly crashes an international panel of safety regulators says the f.a.a. had an adequate understanding of how it worked from. the head of east go to sharing company alliances germany needs new infrastructure as the vehicles grow in popularity joe hart say faces complaints about them clogging up pathways are justified and more dedicated parking places and. some 2000000 people

in california were left without any tricity on thursday after the state's biggest utility company cut off power to prevent the spread of wildfires that have been ravaging the area explaining its decision p.g. and e. said it wanted to prevent foreign branches from coming into contact contact with live overhead lines the move did prompt some criticism from individuals and businesses though who said they didn't receive adequate warning of the blackouts. that's your business update on d w thanks for watching. la

. eco africa. yes so come out. and hopes to say to the countries of mangrove. the coastal forests i'm being used to. the also being damaged by cattle herds. yes some camera some. comfort. in 60 minutes.

after the fall of the berlin november 9th to w. . the same. there's as did every news africa coming up on the show introducing them on piece 2019 it's obvious prime minister ahmed has won the nobel peace prize for his the size of an issue to resolve the conflict with neighboring the retreat so what does this mean for you on the rest of africa also coming up. this upcoming court says jacob zuma will have.