tremendous i feel very proud and i'm very happy with my the effort up with all their the entire week. the revamped davis cup team event begins on monday but that's the men's singles base new sheriff hopes to shoot for all the stars. this is did only news coming up next to get a hot house business south africa. news up top of the hour in the meantime of course as always the web site they don't you don't come up with. bursts. home to use of species. of home worth saving. again those are big changes and most start with small steps but global interiors tell stories of creative people and innovative projects around the

world. like news that protect the climate news to green energy solutions and resource to should. decrease interactive content teaching the next generation of mental touch i should. be using all channels available to inspire people to take action and more determined to build something here for the next generation gloomily as the environment series of global 3000. and online. if you feel the threat of further division is growing amid on rest that left dozens dead critics of president as being fear of more rest in a country that is on the verge of the poor think of all the great forms i'm looking for more investments. all the perennial bowing and. at the

show the europeans seem to come out. of the seattle flyboys anything but. this is business africa. as well if european prime minister who was awarded the nobel peace prize this year is planning reforms to revitalize the economy is goal is to promote growth and create new jobs but he needs to attract investors to do that many foreigners are glad to set up shop in the east african country because salaries are so cheap that but ethiopian workers. come from east africa to finish off the growing process in germany and then they'll be sold worldwide plant breeders pair. are investing in a new production site after setting up shop in uganda and kenya are now expanding to ethiopia because they say ethiopia is just right it has the perfect climate low

salaries and its developing its infrastructure. it's not only businessmen from stock got that feel that way other investors are finding that ethiopia is just right for them as well direct foreign investment in ethiopia has increased in recent years in some sectors it's above the average for sub-saharan africa ethiopia is finally catching up with its neighbors who have benefited from direct investment for a long time. the ethiopian government wants to make foreign investors feel welcome the state investment commission promises to do more. the only. post the proof of course. was if this was not. in the past 5 years it's still really crucial to be. sure in the coming year since we're really really. interested in dumps the huge division in the ninety's. one of the most important industries in this deal. stuff we can country is tech saws here in this factory in

the capital addis ababa they're producing clothes for the european market german wholesalers like hugo and k i k have their products own an ethiopian to the country on the horn of africa has a long textile tradition but the workers in the textile factory say the low salary they get is not enough to live on. i mean i would need to earn twice as much to pay my rent and take care of my family's needs. let me do. on prices there are going up faster than pay. salaries in ethiopia are usually around 50 u.s. dollars per month that's less than bangladesh in egypt and it's much less than in china where workers get paid around $200.00 u.s. dollars a month investors want to make the most of that while they can. the country's economy is growing but people have been responding to the government's reforms with

protests there is a power struggle underway and there have been violent clashes like those in october which left many dead and injured. so what can be done to convince international investors that ethiopia remains a good place to invest their money earlier today i spoke to looks hartman he's one of the founders of our going cultural business fruit box africa and an investor with a next extensive experience in africa i asked him what he thinks should be the highest priority for the ethiopian government right now. security. foreign exchange and stability certainly those 3 items are extremely important for foreign investors access to foreign currency is extremely tight there has been no progress in on this side security everyone has followed the news. they must act on this

do you have confidence that the government will get things under control it's very hard to to say because all the issues are extremely tough. to solve and in short period of time because people are are waiting and are pushing a lot so it's very hard to foresee how quick the government can console that with the situation right now is it deterring investors at the moment i don't think so because you know when to 2 several periods of of the difficulties of security issues and the ones now are not are not worse than what we have seen in the past certainly we all regret that and it shouldn't go on like that what do investors in general like about ethiopia. if he appears the 2nd largest country in on the african continent with 110115 1000000 people. so it's an extremely big country secondly people are extremely nice and welcoming so certainly this

is also why oh why oh why people go there yeah that's that must be it and for sure a coffee i guess but also one reason for investors of course is cheap labor that's a good thing for investors but not necessarily for your peon workers do you see the middle ground that can be reached there needs to be a development can't be because also the time is different than 15 years ago social media is reporting so people know that they are cheap labor and fight against it so there needs to be a development here the problem is mostly in city areas where the labors that are paid are perhaps in line with the medium in ethiopia but the prices are very high so it's especially textile companies need to need to look out and adapt their policies here would you favor a minimum wage. i'm ok with it i don't have any problem with it that we pay

actually 10 percent over what our neighbor is paying we will not go above that. for obvious reasons because we don't want to steal him his employees but here that that's fine for me that's up with thank you very much thank you. and to some of the other business stories making headlines today german chemicals company long says is selling off its stake in the south african chromium or mines 74 percent stake goes to south african company 12 hours in line says sold its chromium chemicals division to china's brother and to process the mine is a major source of materials for that business. british lawmaker peter hain has told a south african judicial inquiry that corruption under former president jacob zuma was enabled by international banks companies and governments the inquiry is looking

especially into the geishas the prominent gupta business family had captured the state's influence over zuma and said companies like h.s.b.c. should now help to recover the loot they helped loan. embattled south african airways is resuming flights to 6 african destinations including lagos and across canceling some domestic flights in the next 2 days the state owned allen has canceled hundreds of flights since a cabin staff strike over wages began on friday it says the stoppage is costing it $15000000.00 rand that's $3300000.00 per day. now several asian airlines have canceled flights to hong kong as months of civil unrest grows increasingly violent and disruptive carriers blamed a drop in demand as customers fear for their safety and all those pro-democracy demonstrators paralyze hong kong airport for days causing hundreds of flights to be

canceled the crisis and the ongoing us china trade will have tipped the financial hub into recession for the 1st time in a decade. good news from the dubai asho the european plane maker signed 2 massive deals was worth a combined $30000000000.00 u.s. $1.01 airline is replacing its superjumbo a $380.00 fleet with the more nimble a 358 rival boeing also announced fresh orders even for its controversial and currently grounded 737 marks. some had come to see the planes are those had come to sell them it was european space giant airbus that led the way with some head spinning deals the fast with emirates announced at a he still e a range press conference. the emirates will sign a purchase agreement for a $58.00 of us. x.

there you piece today. this is from the order worth of $16000000000.00 at the list price including of course royce trent that will you it be agent orange it was quickly followed with another order for $120.00 planes by air arabia we are very pleased. and happy to put an order and today there were some and left in the pan for trouble dr a boeing picked up some crumbs signing a deal that was cetane of it 737 max planes sold to sun express. it's a great day for us we are in the city to partnership with all the shit it. was for the ship was on and we are very happy to. our commitment to this ecologically friendly and economically efficient is. a small but much needed vote of confidence in the company and the model after 2 fatal crashes in the

space of months so it grounded warroad white. the american electric car maker plans to invest up to 4000000000 euros and a new factory outside berlin so-called gigafactory could bring thousands of jobs a region low in manufacturing jobs bottom legally binding agreements have yet to be signed and tesla found. have a bit of a reputation when he put his money where his mouth is. the announcement came as a total surprise you know award ceremony in berlin. a news matter of fact. we've decided to put. the gigafactory. the plan is to build it in the small town of queen hided just east of berlin it'll be tesla's new europe factory where the s.u.v. model y. and batteries will be built it will create at least 7000 jobs and the factory will

be built inside 2 years otherwise not much is known at the moment. the new competition right in german car makers backyard might also inspire more progress in german electro mobility and the hippie that iran is pulling us a bad i think the german industries really know strongly in this thing and keep your alert. on friday fox falcon announced it will be investing 60000000000 euros in electro mobility and digitize ation. and that's it for me and the business team here and. check out our website that's w dot com slash business go here's a quick look at global markets at this. scene

around us and be glad that you still can. if you other cities seem so close to the pattern rule of. predecessor vibe industrialization traffic and crowds are tourists but it may not survive climate change. under threat.

in 60 minutes. w n. what secrets lie behind small. discover new adventures in 360 degrees. and explore this amazing world heritage sites. w world heritage 363 get cleaned up now. this is state of the news africa coming up in the next 15 minutes what all south sudan's chances of peace it's need is embrace and if he'll pull a deal before the captors but they're still far apart and don't see eye to eye on a number of issues.

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