they just composers. i can't even begin to imagine a world class or employer similar on a journey of discovery. or the only. store september 16th. and economic upswing for germany the country's central bank says that's in the cards but after a historic downturn where is that growth meant to come from. also on the show drawing but not desolate how the united arab emirates is turning its desert sand into arable land. and river holidays are all the rage and brush as locals avoid overseas travel. this is the the way of business i'm joined

on in berlin thanks for joining us a rare bit of good news on the economic front in these troubled times germany's central bank the bundesbank says it's expecting strong growth in germany in the summer of this year but it's also warning against expecting a return to pre-crisis economic activity too soon. the days when there was not a soul to be seen on german streets are over with the lifting of coronavirus restrictions life is returning to normal since the low point in april things have been on the up. in the 2nd quarter the german economy slumped by 10 percent the biggest fall since world war 2 the balance sheet for the current quarter looks set to show a big increase according to the bundesbank. the impact of the coronavirus in the broader economy has been relatively small the engineering industry shed over 30000 jobs in the 1st half of the year with over 1000000 employees in the sector

this is bearable. the services sector and private consumption also did not completely collapse as the state kept on paying a large portion of salaries. sometimes the european central bank's expansive monetary policy there are plenty of cheap loans available. so is everything looking good not exactly whether growth proves sustainable depends on what happens in other countries if their economies don't start to gain momentum then germany a major exporter will find it difficult to counter the downward trend. let's get more on this from carsten brzeski he's the chief economist at i n g germany carson what would be the source of this growth of carrots to be the lifting of the lockdown there is to be honest with you since end of april we see that konami activity has returned and it is both private consumption investment investor production and also exports which was started to gain some momentum in may

and june so this should continue throughout the summer but how do we reconcile this expected upswing in the german economy with a wave of bankruptcies expected late this year those will go together. i think you need to make a distinction and this is the english language has the nice words one is rebound and the other one is recovery so we're currently in this rebound very obviously so the downstream was driven by the lockdown measures now with the listing off the lockdown measures were on the rebound and this read on pretty much looks like a v. shaped rebound what comes after work is the recovery and this recovery will be driven both by what is going to get a 2nd wave of the virus are going to get the 2nd wave of lockdown measures but also by the more permanent damage caused by the crisis and this is bankruptcies by businesses this is how many people can really return from 4 pound work schemes to full time employment again so these permanent damages will only surface in the 2nd

half of this year. and no one's there and maybe another one germany's export oriented economy of course does depend on how well other trading partners a bounce back as major economies post record declines how much confidence does that really inspire well not too much because when you look back prior to the crisis we already had export suffering from trade wars from changes in china the entire german industry was more or less in the downswing before the crisis actually hit so now looking at looking at it means where you look at the u.s. still struggling to manage the virus the u.k. also an important trading partner for germany still in this breaks it uncertainty china is changing its business model so i think this recovery will not come from export it has to come from domestic demand and in this regard i think it is positive that we have seen so much stimulus so many stimulus packages by the german

government because they are really targeting this domestic side of the economy everyone in the same boat but with different detailing thank you carson basque a chief economist at i n g germany now to some of the other global business stories making news. norway's solver and wealth fund lost $21000000000.00 in the 1st half of the year as coronavirus global markets the fund was hit hard by its investment in oil companies which plunged a 33 percent this year as the men for crude oil tumbled. the us government has given the go ahead for controversial oil and gas production in alaska the decision allows for leasing rights to be auctioned by the end of the year environmentalist have said they will challenge the move which permits drilling on an arctic nature reserve in northeast alaska. oracle has entered the race to

take over take tops operations in the u.s. canada australia and new zealand u.s. president donald trump has threatened to ban the gap in the u.s. if china's bite downs would keep ownership microsoft and twitter are also interested in to talk. the u.s. will further restrict to always access to american technology including chips it's the latest blow for the chinese tech companies whose equipment is being blacklisted by governments around the world amid fears it could be used by the chinese government for espionage china has since moved saying there's no evidence of security risks. a giant and group is planning a dual listing in hong kong and shanghai it's set to be the largest i.p.o. in history surpassing the saudi aramco offering last year the financial arm of e-commerce firm is expected to rake in more than $20000000000.00 and it's getting

a listing in the u.s. it would be the 1st time for a company of such size not to be present on wall street or nasdaq which could further intensify tensions between the u.s. and china. our financial correspondent joins us now from frankfurt only the obvious question why is financial foregoing a listing in the u.s. . because it's an answer that's political being viewed from the other perspective from the one that you just mentioned listing in the united states my tag and i was the beijing leadership and saw jack ma the alibaba group chief and of course also responsible for and is considered here in the market to have that as its primary criterion and not looking at perhaps the extra dollar that can be earned and that can be taken in by having the listing on the nasdaq the nasdaq or

any other us market would of course read more money but he can't afford to lose the support of the chinese leadership and that's really the only driving force behind this move people in the market think. and in a further swipe at a china president did say that he was going to offer incentives for american firms to move out of china how do you think that will play out really. i don't think it will play an analyst i talked to a little while ago said it's pure campaign rhetoric president trump has 3 months left in office in the new year it could be joe biden who isn't in the white house nobody's going to risk making the wrong decision there and also would be a wrong decision most likely very likely because of production costs that would go up in china the customer would have to pay more profits and sales would go down and also of course nobody wants to really untag and as the chinese government by

pulling out with that huge market. separating policymaking from campaigning usually a good idea thank you we'll have arts there in frankfurt for us. the united arab emirates may be swimming in oil but it has little arable land and draw a baking summer's spent it had to buy in the 90 percent of food from overseas but now with the help of new ag. cultural technology if the government is hoping to overcome its dependence on food imports. the united arab emirates is growing pineapples salads bananas and more this agricultural revolution in the desert has been turbocharged by technology. these salads receive exact amounts of humidity white water and heat and. we want to have looking at the product to vittie throughout the year the most on the cardless of climate change or if there's a winter or drought a bit of them is on no not on

a just the. house where farmers are working with hydroponics to grow pineapples without soil and sell the technology on. to tell it out about the enough we produce approximately $4000.00 fruits per year and we're working to increase this production and. we're also teaching our friends to learn the hydroponic system. it's part of an aggressive effort to secure its food supply and guarantee the country has up to 6 months of stocks locked away for whatever may lie ahead. the mess that tourism has surged around the world as the coronavirus pandemic makes international travel more difficult in russia holiday bakers are flocking to countryside reversed when joy a summer break. if there is one thing the coronavirus has been good for it's domestic to resume here along the riverbanks initially novgorod thousands of

intrepid muscovites come to discover the hinterland too are operating bookings are up 3 fold thanks to those like the clemente of family. just like humans for abuse no of years we have so many places that it's difficult to visit them all the kayak gives freedom no need to drag heavy backpacks over the mountains you can travel by water the landscape is constantly changing you can sit by the fire talking and relax gourds of the quality of this thing would be. perhaps the appeal of camping holidays as much to international travel bans as rules on social distancing and the great outdoors there is plenty of space to swim fish kayak and cook and none of the distractions of city life. bitching comparable with overseas holidays because here we are closer to nature we

are purifying ourselves we don't have phones we don't have a wife i would just relax we look at the sky the stars it's beautiful it's great. it's not just russia there has been a boom in holidays a home around the world the question for the beleaguered tourism industry is will it continue long after the pun demick is over. and that's it from the end of the scene here in berlin and for more you can always go to detail be it all kong slash business or follow us on social media thanks so much for watching.

combating the corona pandemic. where does research stand. what are scientists learning. background information and. our corona update. 19 special next on d w. how does a virus spread. why do we have it and when we'll. just through the. weekly radio show is called spectrum if you like in the

information on the chrono laroche or any other science topic. check out our podcast . podcast you can also find us at. the university experience but time to broaden the mind and forge lifelong friendships at least as the pandemic is emptied lecture halls close encounters replaced by physical distancing. in hard hit countries studying abroad can be an opportunity and a challenge. higher education in the time of corona what next for generation lockdown. millions of kids study abroad every year it's the best way of building

a global network before graduating but applications are falling for the u.s. canada and the u.k. germany is rising in popularity or find out why in a moment 1st the challenges foreign students are facing here german campuses would be teeming with life at this time of the year but 19 has pushed back the start of the semester for several universities to november and that's hit foreign students hard. i was supposed to go. into this month. to get council again so my only option is to take. a lot of students from abroad are stuck here far from home and their families.