it's a business the world's 2 biggest democracies claim they're making progress on a free trade deal president of trump says u.s. ties with india stronger than ever and india says that both sides have decided to formally engage to move towards a pact that sounds like baby steps no that not a comprehensive trade agreement he's signing not yet at least the u.s. president put his name to the visitor book at the memorial to mahatma gandhi in new delhi before being presented with a bust of the much revered independence leader however that was not the only place where donald trump left his presidential mark i know prime minister bertie will agree that this has been a very productive visit for both of our countries earlier today we expanded our defense cooperation with agreements for india to purchase more than $3000000000.00 of advanced american military equipment including apache and m.h.

60 romeo helicopters the finest in the world there was also a deal between us and e.g. big hit to exxon mobil and the indian government to to see the americans improve india's energy distribution network it'll mean the u.s. can sell even more of its oil and gas to the subcontinent after that closely watched comprehensive trade deal president trump says there's been tremendous progress but they're not shaking on it just yet. correspondence or joins us now from delhi so we take us through the main sticking points on that eventual trade deal. so you know even the u.s. even now india's biggest fear is still wants a bigger share of the mocking saw especially in a guy is. suited to have potentially the world's biggest middle class saw the 1st ticking bomb of course eve greater access to the indian market for many goods

particularly. and agriculture but india of course has the dexterous policies and certain sectors and it wants to keep it that this again of course is the trade of the sit between the 2 countries which isn't india's at the moment in fact president jumped up this up several times during his visit here in the last 2 days he's calling unfair and he said that this country wouldn't have it and it would have to change so this means that india would have to accept the fact that the u.s. has latin india specially in a. steel industry and one of the last sticking point is that on. the issue this issue of the nation. which is the essentially the storage of the don't look at selflessly sitting in government want the bigger companies like google and amazon pushed back and said that's very expensive for them so that's again a major fall the dispute between the 2 countries what about these other deals that are being announced on this visit of the or any of them actually new. oh

not the mean ones actually you know we do not expect some defense to use a lot of announcements to be believed especially until it's just at the helicopters but you need and also the announcements that they need on the way to energy now again as we've all said pull the leaders of the to he said this is a new way. in the u.s. to egypt's relationship but to me though he does actually go down what that means you know going follow so we have to wait and see what these details to be so just briefly do you reckon trump has a friend in modi i mean it said he needs a power as a counterweight to china. well if we're to believe that do leaders then yes they certainly seem to feel as though they said that to be deadly over the last few days obstinate aegypti and also makes a lot of sense for us to build

a better relationship with india especially at a time where a presence in this region and in the middle east is. declining and increasing so this is going to obviously provide a vacuum that shine up the solution so i think the book i actually think is i think nice that mutually beneficial to the ship and which is why i'm the c.e.o. if you've also seen their step up to team defense. surbiton excellent talking to you thank you very much. and let's bring you up to date on the financial impact of the coronavirus now italy says it may need budget leeway from brussels the euro zone's 3rd largest economy is struggling to prevent an outbreak spreading traders on global exchanges are doing their best to keep their cool. a slightly kharma day for stock markets yesterday some exchanges saw their steepest one day drop since 2015 today more mixed picture. some

exchanges opened slightly up and others down the mixed picture is partly down to chinese factories slowly reopening signaling a replenishment of global supply chains tempered by the near inevitable reality of a global pandemic now is to try and repair so we're in a phase of preparedness for a potential pandemic seoul south korea is quiet it's too late for preparation instead disinfecting the main train station new cases are being detected around the world such as here in poland sicily southern italy it means that business as usual is becoming impossible. and it is only there is of course an economic impact do you to the suspension of activity including for the regions directly affected but we are ready to deal with this emergency you'll see that we can manage to limit the negative impact including the economic impact.

few analysts are predicting a global downturn largely because governments are willing to step in with measures to stimulate the economy but the last few days show that every time the virus spreads to a new country stock markets and the economy more generally take a hit. the white house is seeking 2 and a half 1000000000 dollars from congress to respond to the epidemic the money would be used to speed up vaccine development and help the u.s. prepare for possible cases speaking in india president trump tried to sound upbeat . we other than yesterday which was. simply pretty bad with respect to the virus and we'll see what happens i see the futures are up today fairly substantially but that's very seriously but we think we're in very good shape in the united states we've essentially close the borders to areas where we had to close them. taiwan's parliament has agreed

a stimulus package to help ease the economic impact of the coronavirus politicians have passed a bill allocating close to 2000000000 euros in aid the money will provide small businesses with cheap loans and support the tourism sector which is seen a dramatic drop in visitor numbers coach companies will have a tax cut for the plans include vouchers to spend on food and usually to a strong night markets. finance textiles a good suffers of results of the virus produces a focused in a severe shortage of materials during the 2nd quarter of the year and they say they have sufficient cereals until the end of the 1st quarter the production beyond that could be hampered by difficulties importing from key supplies in china japan and south korea is that a british clothing company prime och said it may have to speed up or up production in countries outside of china like vietnam to counter supply problems but it sounds like vietnam has problems of its own. it's all shows how intertwined global

businesses have become and how vulnerable they are for conoco told from the german association for supply chain management says some companies a shifting operations away from china but that it's tricky to read the situation adds react this is something where how our companies see that risk management is getting more and more important. and that this is of these entire supply chain and analysis of the entire supply issue and supply a portfolio to see where can we shift some issues attorney to root of transport an issue so all these aspects putting all together. under a concrete evaluation and lettuces also for the future to be even better prepared if such kind of situation should ever cure again especially from the chinese authorities i think transparency and keeping up transparency is crucial so that we all can get an idea of what they did about the dimension that this virus is

bringing to the global impact and furthermore from the german torah he's also talking about the german federal government so far we believe that the risk management is quite good but however if this crisis will continue on having an impact federal government should also have a look not only on the health issue but also what they could do to stimulate or to protect the german environment in terms of economy let's take you back over to frankfurt throughout financial course on the heels of delaney notice dramatic today is far stocks go but some big moves for bond markets and oil. that's right there's been so much focus on on the stock side of this this dramatic declines we've seen in global stocks but the bond market in particular has also been seeing some pretty intense moves over the past couple of weeks and it's sending a slightly clear signal in the stock market a week ago u.s. stocks were at record highs but the bond market has really been sort of showing

concern about coronavirus pretty steadily for the past several several weeks it's today the 10 year treasury yield that's really the world safe haven asset fell below its record close so it's getting very close to a record record lows and that really is signaling people's concern about the global economic impact of this but also the rising expectations among among investors and traders that this is really going to force the federal reserve and other central banks to respond with more interest rate cuts the other interesting market you've mentioned was oil oil has also been hit really hard by this this is obviously going to reduce demand for oil in part from from airlines from from manufacturers but it's also raising sort of existential questions about the future of the opec suppliers they're holding a meeting next week and there's already been a big rift between russia and other oil suppliers so i think investors are really

focusing on that as well as you let me thank you phil chime in. and most trouble in paradise before we go you would have heard about the tourists traps on cruise ships because of the coronavirus now no one's allowed to leave a hotel on spain's canary island 8 h. 10 costa daisy palace on terror if is on to track down old lockdown rather after a visiting italian doctor tested positive for the virus is footage was filmed by a british guest i'm stuck in the hotel he's now mr this flight italian doctor who caught the disease is being treated at a hospital on the island. iced in business with.

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w. place . busy w. news live from berlin and former egyptian strongmen hosni mubarak has died at the age of 91 to some he was a guarantor of middle east ability and a loyal u.s. ally to others and autocratic tyrant president mubarak told egypt for 30 years until his ousting in 2011 and we'll look at his legacy.