what secrets lie behind. discover new adventures in the 360 degree. to explore world heritage sites. world heritage 360 p.r. . a clash between 2 oil titans send stocks around the world tumbling markets experienced their worst day since the financial crisis in 2008 we'll ask our correspondent on bull street to assess the damage. also coming up plus the corona virus infects global supply chains we take a look at how one german company is welcoming the storm. on the choppy waters ahead how years of on the press have pushed miley's tourism sector to the brink of

collapse we'll meet some of the people whose livelihoods are at risk. this is. i'm kate ferguson welcome. it's been a day of carnage on the markets with shares posting their biggest losses since the financial crisis in 2008 the massive drops were triggered by saudi arabia's decision to increase oil production after russia refused to cut its a push in response to weakening to munt because of the coronavirus and here's the damage here in germany the dax closed around 8 per cent down entirely wiping i almost the gains of the past year the footsie $100.00 in london fared no better it ended just shy of 8 per cent in the red as well and there was chaos that trading going on in new york 2 similar to other exchanges the dow jones closed nearly 8 percent lower as well all of this volatility of course coming as the price of oil

so it's because $1.00 day drop since the gulf war in 1991 now earlier i asked these financial correspondent jose luis to harrow on wall street for his take on a saudi arabia's decision to increase i put and i asked him whether he thinks the move could lead to retaliation from russia. what we can say kate it's not like the core current situation it's only sustainable for a short period both for opec members and russia mosco might have a started or trigger the war to push prices down by the keeping them to current levels or pushing them even lower will have a political implications especially since they have for russia to break even price for oil is around $42.00 a barrel a lot of reporting a promise at the beginning of the year to approve but something goes to melissa because of these low popularity still the current situation will make any

investment in infrastructure or any increase in social spending much more difficult for all the republican members some of them depend on income from oil to survive so i think if you can decline in revenue could destabilize politically and socially and jose would you say what happened on monday is a single shot or do you think we're going to see more losses in the coming days. it is hard to tell cave from diac reduce perspective on the all oil perspective but keep pushing prices down in crude oil will send jitters said to the u.s. jail all industry to do seem just trees facing a 3 sided attack of falling prices move off institutional investors to divest from fossil fuel companies and question that bloats so we've had prices at the current levels we could see a wave of bankruptcies and some instability in the junk bond market to various speculative one with the current levels of volatility and uncertainty anything can happen in the next coming days and we can all take out of the picture more losses

not only in equities but also in oil prices and anything is possible how that is the hair on wall street thanks so much for your insights. now to some of the other business stories making global news governments around the world have been trying to offer reassurance amid the market turmoil brazil's vice president described the 10 percent plunge on the south paolo stock exchange as a normal and transitory situation this after shares in stage oil giant petrobras lost more than 24 percent. and in mexico president under as manual opens up the door says the economy will bounce back after the paizo drop to a 3 year low against the us dollar he also maintains the country has adequate reserves of the commodity economy relies heavily on oil. and israel has proposed setting up a network of safe airports in order to maintain global supply chains speaking to european leaders the country's prime minister benjamin netanyahu suggested

designating a number of hubs as corona virus free in order to facilitate transport operations. and as you'd expect the outbreak has had a major impact on global supply chains especially those with operations in china and our next report we take a look at the measures one german maker of electric motors fons is taking to weather the outbreak. production is still running smoothly that e.b.m. pumps in southern germany. one of the world's leading producers of fans and electric motors it supplies companies around the world and sources many of its components from china that's why it's formed a task force which meets several times a week to monitor chinese production and supply chains pat says there's been no bottleneck so far. as the feeling of risk management high priority and we don't put all our eggs in one basket if one topples over they'll be another one somewhere that takes its place on those alternative suppliers are decisive now still the

company can do entirely without china but ports in china are clogged up air freight is available but it's expensive that we're not going to even even if the unpleasant side effect is that costs are exploding where we used to pay $1.00 euro a kilo base rate now we've reached $10.00 to $20.00 euros a kilo is that we get from spokesman all customer that of expecting was higher costs more effort e.b.m. pops storage facilities are full and they're set to grow the company is stocking up on supplies to cover a 12 week period besides china italy is now under scrutiny. yes into english safety also tops the agenda in germany with employees undergoing a cultural shift because when we greet each other we don't shake hands any more than a fire. truck drivers on the italy run are given protective clothing the fears are not unreasonable germany's electrical industry association is gauging the costs of

the coronavirus to the sector in china alone. in that respect we're looking at deliveries under threat right now worth half a 1000000000 to a 1000000000 in advance payments the coronavirus has been testing the economy for over a month highlighting how vulnerable supply chains have become. to long term shocks like that offer us a chance to ask if we shouldn't reposition our value added chains and production lines more locally. but we don't want knee jerk reactions before they could threaten the enormous gains in efficiency we've been able to make in the past. that's the. one thing is certain that that maker e.b.m. pops and many of the german companies the coronavirus will weigh on the bottom line just how heavily is still not clear. over the past few weeks leaf reported extensively on the impact the coronavirus is having on the tourism industry but it's certainly not the only factor hurting the sector in the west african country

of mali years on rest have destroyed a once thriving travel industry. a gentle trip down the niger river taking in the landmarks of mali's capital bamako once a very lucrative business for captain dowden but odda today he's happy to get even one paying customer aboard his pirogue whose business is all but collapsed since the crisis began 8 years ago. i used to carry people and goods on large boats all the way to go. with the crisis i've only got 2 small boats left in bamako for tourists that you don't see any more of either. hoteliers are also suffering for 2012 malise historic sites were major tourist attractions the deteriorating security situation means hotel operators wait in vain for customers like john close the owner of the hotel mirabelle who. look at the hotels completely empty you can

tell by the keys they're all standing in the box is that. if the hotel was full they'd be lying flat. we only have 4 molly and guests. that we give the last to our interest here left 5 years ago that we've not seen any since. outside the mervo the street has changed completely most of the bars and hostels long gone. this was one of the liveliest streets in bamako. there were loads of tourists nowadays it's empty nothing works anymore. it's total desolation. foreign visitors have slowed to a trickle down the loss of revenues is ruining livelihoods. traditional mali and

works of art on finding buyers nowadays many of the artisans can barely survive. has been searching desperately for some way of revitalizing the sector and what we've got to focus on domestic tourism in the past it was always about foreign tourists so far mullins haven't shown any interest but it's our aim. at it legally . i don't have a daughter is back from his trip down the niger he had 3000000 guests on board and will be the last for today as well. as he treated no one was waiting on the jetty when he got back just like every day. and finally british hard rock legends led safwan have scored a big win for a long running copyright battle over the opening guitar riff for stairway to heaven a san francisco court said let's lynn's $970.00 want to rock anthem did not rape of

a song written 4 years earlier by spirit guitarist randy wolf the band could have faced millions of dollars in damages if they'd lost. it makes me wonder if i'm not following the time far from me and the business to get by and.

i'm not often out of the jam just sometimes i am but i sound off with that. i think steve interject culture of looking at the stereotypes classics piercing the future of the country that i now want. to thank for this drama. it's all about ok. i'm right show join me for me to jam and fun to be a. host to use crime fighters are back. for those most successful in radio dramas. this season the stories focus on. the mention

of sustainable chicago production. all of the sos are available online and of course you can share and discuss on africa's facebook page and others. social media platforms. crime fighters tune in now. get. a free jenny full of surprises. coming. to some said one of the indian players the footsteps of the great. insurance. challenge the fleet street. for a time you want to film very much a life challenge to display in germany. where exactly. the last car sculpture history

they're. dealing shallow extremely worth a visit. and welcome to news from the world of culture let's look at what's coming up in the next quarter of an. series 100. the. book. of life. everything as experience. and a video game the 5th and final chapter of the cult classic. bots we begin with a restaurant that is really trying to do its bit to save the planet climate change

and global warming never far from the headlines of the owners of the restaurant freya. the amounts of wasted their restaurant to absolute 0 is this possible. plastic but not to this restaurant. at the end of the day this little pile is all that remains of to lift. these delegates. free of geminis fits. or you just have.