get your minder now our top story this hour lebanon's capital beirut is in shock after 2 colossal explosions devastated the city the blast tore through the city's port killing at least 100 people injured sounds. and more details on that as they come in for now though thanks so much for being with us. for posters from nigeria who we are as a people here that's what nollywood stands for their unique. point 00. 00 centric. fast moving. and successful beyond belief.

that this is the way we do it. nollywood starts august 7th on d w. people for d.w.i. on facebook and twitter was up to date and in touch. business is a bad that the nationwide restrictions to halt the spread of the coronavirus in india choke the economy we'll talk to an economist about that. goal takes on a whole new shine the precious metal continues to rally it's a sign of heightened uncertainty around the long term effects of the corona pandemic. and i joined tina says it's range than initial agreement with its jilted creditors could the deal help pull. country out of

a crippling to hear ascension. and then fizzle and that's their business the coronavirus death toll continues to rise globally one person is dying every 15 seconds india is one of the nation's leading the rising fatalities it's been in and out of lockdown a failure in the fight against the virus and a catastrophe for many businesses less than a month ago stores in the indian tech hub of bangalore were forced to close once again. numbers of covered $9000.00 cases have risen after the steady easing of india's initial lockdown. still businesses and citizens alike clamored for the chance to get back to work. and they got what they wanted since late july restrictions have been gradually relaxed. but once again came a renewed surge in corona virus cases new infections nationwide have now topped $50000.00 per day for 6 days straight the world health organization has urged india

to rigorously enforced health measures. again the potential for the disease to spread quickly in overcrowded urban areas and in poorly served rural areas is always there and india will obviously have to keep a very strong and sustained effort to both prevent the spread of the disease and to treat those who fall ill. people across the country are eager to get back to normal life but with infections on the rise it's unclear how india will balance reviving the economy with protecting its people's health. raji is executive director in asia pacific chief economist at i.h.s. market this back and forth easing restrictions and locking down again and then opening the economy only to see another surge of infections is exactly what economists warn would wreak havoc just how much damage is being done right now.

the indian economy is there are very much in a deep recession already it's facing the worst economic crisis since 1979 which was the last time india out of recession because of the negative shocks to consumer as the corporate sector is also suffering very badly consumer spending has been hit very hard by the protracted lock downs with lock downs having 1st come into force in late march and ever since then various forms of restrictions of been in place that have affected the consumer and therefore many small businesses are suffering and the economy as a whole is facing a very long period of weakness until perhaps a vaccine can be found and there is some hope that india will perhaps be relatively early in being able to use the vaccine because the oaks for a vaccine this in

a late stage of development and india has an agreement to produce 1000000000 doses so that's a bit of hope at the end of the tunnel for india ysaye business is suffering just how bad is the situation i read that some businesses are even being abandoned i mean what do people do in this situation. well the problem in india particularly is that many small businesses operate which is very thin margins. many people are in the informal sector and are dependent on day to day income to survive and that includes many small businesses in the markets so i think the economic consequences can be very severe the longer this goes on there has been some improvement in the last couple of months in consumer spending up to vittie but clearly the impact is very severe and india already had a banking sector crisis even before the pandemic began so if many small to medium

enterprises and even bigger companies face rising bad debts this is problems for the banking sector and that's a downside risk that could go on long enough to depend on the ends of the banking sector accumulates very large mountain of debts lead welsh to failures of small enterprises quick question quick answer if you can what what's the best way out of this health crisis then i think the way things look right now for india and also for many other developing countries in africa for example brazil is the vaccine there's a lot of progress now in the final phase trials of vaccines for india the oaks for the scene is the best hope because it's almost at the end of its final trials and because india has an agreement to produce a 1000000000 doses so i think at the moment a lot of hopes are being pinned. maybe

a successful rock scene for india and india itself is currently testing the vaccine to make sure it is affective cable have to lead to that base bus h s market thank you thanks. is a strong indicator of the growing on me about the global economic outlook the gold price is set yet another great chord investors have been piling into the precious metal it's usually seen as a store of value if stock prices decline well equities are all over the place at the moment there's still so much uncertainty surrounding the coronavirus. for weeks the price of gold has hit a record off the record so reaching the magic $2000.02 is merely a question of time overall since the beginning of the year the price has gone up by around 30 percent and analysts say the trend is set to continue but that's just the shiny side of the coin the flip side is rather different the current

pandemic looks increasingly unlikely to disappear any time soon many countries are already experiencing a 2nd wave with devastating consequences for people and economies at the same time central banks are also printing large amounts of money raising fears of inflation investment opportunities to scare us interest rates are at 0 or even lower and trust in the dollar is dwindling too so there are many reasons why investors are heading for the safe haven of gold. but just how safe is it let's go over to the now financial correspondent in frankfurt conrad is a golden bubble forming and could it pop. you know ben traders hate the b word it scares off retail investors the b word being bubble of course traders prefer to talk about an overheating of the

market of the gold price we are seeing there which of course only illustrates that financial professionals to find it difficult to explain with fundamental reasonable reasons what's going on there definitely is an element of fear in this surge and when you know feelings drive investment this of course has the potential to be reversed as quickly as it occurred how much of this is a no confidence vote in currencies like the dollar of the euro. oh it definitely is a no confidence vote against the u.s. dollar its position as the words as the world's leading reserve currency has been shaken lately investors are discussing can america remain the world's leading economy or is it warranted right now to be more cautious most skeptical with dollar investments of course the federal reserve's stimulus policies are playing into this

it has they have sent you know bond yields down but what's also playing a role of course is the way how the united states is governed right now. rebels in person frank thank you very much. now to some of the other business stories making news this hour disney has reported a loss of $4700000000.00 for the 2nd quarter it's due to the pandemic with revenues down 85 percent and 50 percent of its movie division is nice as its new film on the big screen but instead on a strain that form. the e.u. is launching an investigation into google's proposed takeover of us from fitbit as due to the amount of postal done to the wearable devices can collect about the user the european commission worries data could be used to entrench google's position in personalized at the ties in. and germany's b.m.w. has reported a loss of 212000000 euros for the 2nd quarter comes as revenue plunged more than 20

percent in the period from april to june when many economies were under lockdown but things may be looking starting to look up in a firm says it's cautiously optimistic about the rest of 2020. hour ties for argentina it's enjoyed a crippling were sufficient worsened through the ongoing pandemic in may the government was unable to make a low repayment putting it in default the knights time in the nation's history now what desire is has reached a deal with creditors to avert an even deeper crisis. the coronavirus pandemic has pushed argentina's already struggling economy to the brink the country is in recession over a 3rd of the population lives in poverty since the outbreak the queues outside soup kitchens have become longer. we were using what little we had to buy food sometimes my son who worked as a painter brought us some money but now he doesn't have

a job either we have no income so we are using his and my savings to eat. argentina's economy is contracting while its national debt burden has been growing according to the government and when osiris the interest alone drains 20 percent of state revenue it simply can't pay such sums especially now during the pandemic but the cash strapped nation could soon be afforded some breathing room to deal with creditors would amount to significant debt relief the economy ministry says under the deal investors would swap bonds and argentina defaulted on for new securities the new bonds reportedly could be worth around $0.55 on the dollar meaning big losses for many investors. in exchange argentina agreed to move up some payments and strengthen rights for bond holders in case it has to restructure the debt again in the future the settlement is still pending a vote by creditors but there's already optimism the country's president tweeted we

resolved an impossible debt in the worst economic crisis that can be remembered and in the middle of the pandemic we have now cleared the horizon the stakes are high if the deal fails to secure approval creditors could leave empty handed argentina might be cut off from the international debt markets for years and that could make everyday life even more difficult for arjun tines. and tried to cut me off the next few hours nice doing business with you i'll see you again very soon here on.

women from 3 countries with one they're fighting for their rights and their children. in brazil against violence and. india for the right to play. in sudan with visible success on enjoying new freedoms.

tolson the truth. any role and slowly moving to the limits of course the subconscious always a world without beethoven i can't begin to imagine. without it to start september 16th. welcome took global 3000. they're beaten degraded and killed by their partners for brazil's women their own home is often one of the most dangerous places there is. waiting for a winter climate change in russia's arctic poses huge challenges to the nimitz people and their herds of reindeer. but 1st we meet the courageous women of sudan.