that's their business. india's yes bank have plunged by as much as 85 percent the central bank has imposed withdrawal limits for customers to prevent the collapse of the private lender it sent the rupee falling to its weakest levels in 2018. thousands of customers all across india have rushed out to a draw their money from bank but they can only get $50000.00 rupees per month that's around $600.00 euros one of india's largest banks is now under direct control of the reserve bank of india that guarantees all deposits are safe and that nobody should worry about their money that the issuances are easing everybody's mind. us. the money. is. going to.

yes bank has a high level of bad loans and not enough capital to cover the losses putting the bank at risk of default that's why the central bank decided to place yes bank under a moratorium and is now working on a merger or takeover naturally a market based. solution of the problem a bank. of the problem is already a profitable we have said that in office statement yesterday also so naturally you have to give time to the bank to the management to you know take whatever steps. need to take. because of the uncertain future shares of yes bank plunged more than 70 percent during trading hours wiping out around $1000000000.00 euros of market value in a single day it's the biggest fall ever of an indian blue chip stock. yes or no bank let's go to both kind of running krishnan who joins us from delhi for

the new side scroll rolling could you tell us whether or not depositors should be panicking right now. broadly speaking deposit of fine yesterday and so there's a bank of india which is the banking regulator showed everyone that everything would be taken care of nobody would lose money from it if there were counselors and today that of the bank and the finance minister of what's going about it reconstruction plan a draft that would see essentially the state back of the debt coming in rescuing the bank and ensuring that anyone who has money in it as a deposit or is safe investors on the other hand will have to move money but anyone who has an account holder their money is safe except for the limits that are there for the next month what about the bank what's going to happen to it. so the reconstruction plan that was put forward today sees the shares diluted quite a bit sees an investor bank presumably the state bank of india bank which would

large amounts of cash putting money in and diluting the shares of the existing all of those as well as money potentially coming in from other investors so you would see this attempt to recapitalize the banks and ensure that it's liabilities don't take it down. but you have this would be a painful process but because the government of india essentially 2 of the state bank of india is coming in there both of those given you know rest a little easier then a bit of a hard time over the next row and thank you very much for joining us there from delhi on the future of india's yes bank. europe's multinational corporations are in crisis management as the corona virus continues to creep into almost every corner of the continent many companies rely on parts and brought materials produced in china by suppliers or their own subsidiaries but supply has dried up. the management consultant fang fang is currently pursuing crisis management she and her team advise 60 german firms that do business in china

they're in demand right now because covert 19 is causing havoc fanfan is on her way to a client in a small town in northern germany the shelter group. the automotive parts supplier had to halt production at its facility near beijing for 2 weeks. things are starting up again but with precautions in place. we. are. we're back up to 50 or 70 percent capacity so far we don't yet know when we'll reach 100 percent because we can't get the stuff back into the factory yet.

the drop in revenue and therefore the economic hit amounts to several 1000000 euros . or. international supply chains are collapsing or at risk you can't make a car if the gearbox isn't available. 8 plants in europe have to offset the production halt in china but not for much longer says the optimist fact in fact. you see. is not convinced however. it's some president i can't recall anything like it on our planet. in my view we've got through this and i hope we do deal with it sensibly i think we'll have to think about what needs to change in the future. for example will there be calls to curtail international business travel fanfan usually travels back and forth between germany and china spending 2 weeks at a time in each country she has

a team of certainty in china but for now she can't go and see her colleagues or her family so she communicates with them online from hamburg. fine fine believes the tough measures imposed by the government in china have been decisive. germany and europe there's so much freedom and people don't wear face masks. masks it's a different mentality and a different way of life. fish me and that's why the numbers here are rising day by day. now and they're the virus is threatening not just the health of individuals but also the health of the global economy. german manufacturing orders were up in january but the statistics office star also reveals that china was germany's most important trading partner for the 4th time in a robust year

a faltering chinese economy will hit germany hot. it was the strongest month on month increase for manufacturing orders since mid 2014 and more than 4 times the predicted 1.3 percent rise the german statistics office has said the spike was mainly due to large orders particularly of air and space craft and machinery and equipment the strong result stands out against generally gloomy economic data for europe's largest economy growth ground to a halt in the 4th quarter of 2019 and the coronavirus pandemic is expected to take its toll on germany's export focused economy. for the 4th year in a road to status ranked china as germany's most important trading partner the 2 countries traded goods worth 206000000000 euros last year ordinarily that would have been great news but beijing's economy is beginning to slow down

a symptom of the coronavirus epidemic beijing's draconian quarantine measures have forced chinese industry to scale back analysts using pollution levels as a gauge of industrial activity major cities in china are well known for being choked by smog but necessary to light images show. lucian levels have shrunk dramatically since the beginning of the year that illustrates a substantial decline in industrial activity in the 1st quarter. that will eventually have a knock on effect on german exports but also on the supply of chinese made components on which some german manufacturers rely. talking about supplies let's go live to will be bought sell financial correspondent in frankfurt will lead the e.u. has been holding emergency talks they worried about supplies particularly medical supplies and of talking about boosting local production over imports how realistic is that. you have to look at the really really long picture

long and long run if you're going to realize that in any way maybe maybe i'm too german but i just see a host of regulatory problems but she drawled financial issues you know if it were easy for drug makers to make these drugs for european customers of patients within europe they would be doing it right now but they're not doing it to suspect that it is a lot to do with profits perhaps also raw material availability and you know getting to grips on this with the 19 e.u. with the 27 e.u. health ministers and then dealing with all the companies i don't think it's going to come anytime soon seeing what impact corona has seen one impact something else like this can have i think it's worth looking into though only on the financial front the fed has cut rates congress is approved an emergency spending bill but so far a lot of talk little action in europe. that's right people are waiting and seeing

again you have one government in the united states being able to say this is what we're doing the fed says we have the united states is what we're doing we know the situation the e.c.v. deals with $1000.00 countries the e.u. as a whole with $27.00 countries it's a lot more complicated and another difference the fed still had ammunition it still has an initial now the e.c.b. it's with its rates is already at 0 it would have to go into the negative to do something like the fed or increase the costs for banks to positive money at at the e.c.b. believe as far as the frankfurt stock exchange stay safe. there are reports that russia will not back and plan to cut oil production by one and a half 1000000 barrels a day opec plus members have been meeting in vienna looking for ways to stabilize prices due to the growing of virus crude prices a drop of water since the disease appeared officials have slashed full cost of

grant full demand growth is here and openness has plunged in the years. and south korea's prime minister has described new travel restrictions from japan as excessive is called on the government to drop the new rules japan is imposing a 14 day quarantine on all visitors from south korea and china because of the viral outbreak south korea's foreign minister has announced it will halt visa wave is all japanese with all. that brings you up to date on all the business news thanks for watching d.d.l. we will see you again very soon and nice doing business with. odd

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played such a claim. this is good news coming to life from bali and some response from millions of civilians trapped in serious in a province russia in turkey greeted a cease fire a tense calm is being reported in the region where almost a 1000000 people have been displaced as a result of fighting between government and rebel forces in recent months also in the program.