why not sit today. so don't do both how's your day the business update in just a moment brant. news talk in between of course there's always the web site e.w. dot com i'm good. i'm not laughing at the germans well sometimes i am but mostly i'm nothing with. and i think deep into the german culture of. new jersey when taken as grandma. it's all about who i am not i'm rachel join me for me to get money to host. climate change.

gears today the future. dot com. click turn. they're still counting all the election votes in the united states markets from wall street to hong kong seem able to smell of victory they like. also coming up the world's largest i.p.o. was a jew today but beijing brought it to a grinding halt at very short notice we take a look at what happened to the $37000000000.00 and group listing. and kenya seeks a friendlier repayment terms for a. annis loan used to finance

a railway construction project. welcome to d.w. business i'm joined on in berlin thanks for joining us now markets may despise uncertainty but they've been taking election variability on the chin quite well even the dow jones industrial average climbed 1.27 percent right at the opening on thursday asian shares a scaled near 3 year peak after a democrat joe biden picked up wins in some closely fought states and great publicans looks set to hold on to their majority in the senate analysts are calling it the goldilocks gridlock or the belief that a divided u.s. government would make tax increases and tighter regulations on business unlikely. but what about german markets our financial correspondent conrad booze and sent us this analysis from frankfurt. germany have ice free during the 2 days off to the

u.s. and mexico as surprising as this might sound. so clear outcome of the u.s. election is actually not so bad news for many people on the markets for example if the democrats failed to with a majority in the u.s. senate this makes it less likely that the tax cuts of the trump use will be taken back completely or that president biden can manage to push through his plans for a tax increase very easy all this is good for share prices also good for the german market german factory orders they're up in the month of september which gives a little bit of hope for the german manufacturing sector of course more new orders that's more jobs to be done in german factories. today would have been the day the world's largest i.p.o. was said to happen in shanghai and. chinese financial tech firm and group hope to

raise $37000000000.00 but just 2 days before the much anticipated debut beijing pulled the plug it's an extraordinary move that raises new questions about china's holds on its companies. has beijing squash the ends of the high riding financial technology firm was supposed to herald china's homegrown tech revolution instead after a meeting between regulators and company leadership beijing made clear that it sees and differently the company will face the same level of scrutiny as a bank the last minute decision pulls the rug out from investors many had expected a windfall. from dia gray my cat that they were rumors that the stock could pop anything from 30 to 50 percent so that would be a pretty good payday for a lucky investor as to who will be a lot of shares now is that. they would not get any a lot month the i.p.o.

is not going to come behind beijing's decision appears to be answered changing business model known across china for its payment system alli pay in recent years and has transformed into a fully fledged financial platform among other services it connects individuals and businesses to lenders in other words it makes money as the middleman banks hold the risk but chinese regulators have grown increasingly sensitive to bank exposure to debt as a result in september the central bank required fin techs like ant to increase their cash buffers that in turn appeared to irritate founder jack ma at a conference last month he said regulators were off base. we cannot manage an airport in the same way as we manage a railway station we cannot manage the future with the same old approach of yesterday. but its regulators that appear to have the last say in its filings and had already warn that further regulation could be a challenge its entire valuation is now in flux regulators have far more say over

bank finances and lenders are typically valued much lower than tech companies are correspondent and taipei seoul had so told us what this move means for the future of private tech firms in china we have to know that the ant a group is so successful and that is full of and to printers with ideas and business and services that really could make a really big impact in china and this is of course against what the chinese communist party believes in they have state control banks state controlled companies and that's very important to this country so this incident really once again just casts a shadow over the growth of the private institutions in china and chinese president xi jinping simply put that the private sector need people who listen to and follow the chinese communist party's rules. let's take a brief look at what else is going on in the business world away from the u.s.

elections the bank of england increased its bond buying stimulus package by a bigger than expected 150000000000 pounds as it prepares for the economic fallout from new coronavirus ventures and the looming with afraid that the move comes as england entered a 4 week lockdown to curb a 2nd wave of covert 19. now that 2nd wave of the coronavirus pandemic has stalled a recovery in europe and its latest forecast the european commission projects that e.u. economy will contract by 7.4 per cent this year it believes the economy will not return to previous normality before 2023 the commission also warned the current rise of infections is unleashing yet more uncertainty. the i.m.f. predicts that cove in $1000.00 will lead to the worst economic decline in generations the understand china was a bright spot of growth this year but while the asian region would rebound in 2021

full recovery from the virus could still be years away meanwhile china's president xi jinping says plans to become a self-reliant technology power will not stop the country from opening up further to the world australia would beg to differ over that as its trade dispute with china worse since the australian government is looking for answers amid reports that china is preparing to suspend certain exports from the country to the tune of $6000000000.00 starting friday barley wine. from lobsters just 3 australian exports now believed to be facing depression over chinese purchase farm. outside media 1st reported the existence of a purchased bomb list 2 days ago. beijing mouthpiece global times appear to confirm its existence on wednesday. the purchase band would mark the most serious step in china's one sided trade war against australia beijing has been eyeing goodbye

cameras close relationship to the us as well as its recent calls for an investigation into china's coronavirus response in recent weeks it's tightened restrictions on australian party beef and wine lobsters the face new hurdles to import chinese officials say those decisions are in line with customs procedures but also urging australia to change its course. we hope that australia will do more things that are conducive to mutual trust and cooperation between the 2 sides and in line with the spirit of the china australia comprehensive strategic partnership so as to bring china australia relations way back to the right track sooner. if not beijing believes australia will feel the pinch. now since the pandemic china the single largest creditor to africa announced a suspension of development loan repayments for african countries struggling to

cope with the crisis but it's not clear whether the same consideration will be made for commercial loans that's what kenya is hoping for as it looks to renegotiate interest rates on its $4500000000.00 loan it made from china's xom back to finance a major railway construction project. kenya's singletrack standard gauge railway runs 480 kilometers from the country's port city of mumbai to its capital city of nairobi the really line cost kenya $3200000000.00 to construct it was financed by a loan from china and is the single most expensive project the country has ever impact on kenya's legislators no one terms of the chinese loan renegotiated to take into account the current economic hardships caused by the covered 1000 pandemic which has affected economic growth worldwide. kamiya we know an economist based in kenya says the kenyan government and parliament all kenyans transparency when it comes to the contract details of the re we construction loan parliament should of

asked who are we born from under what terms they didn't instead they joined the president when the when that was being. in order to join all of them were very very happy that it was done without asking themselves we are people who was the public possibly going to pay for it was all becomes designed to carry 22000000 tons of cargo each year the really line was meant to contribute to kenya's gross domestic product and significantly and close the largest port in east africa but since the beginning of operations in $27000.00 the railway line operators have not met their revenue targets now all the chinese build a $380000000.00 in unpaid operation bills. government has not disclosed. the contract itself the cost is high but at the same time the rate of the utilization of the line and the money that's coming in in terms of the.

has is much much lower the costs of the payment. are well below what the assumptions were for a line that was already too expensive so obviously that means the copy is even bigger the product is good. but the funding has a lot of questions because you'll find we've been told that it's not even breaking even and. i'm not sure whether it's true but. we risk losing some of these assets to china if you're not able to salvage the loans you know to burger king your government to cover partial control of the re we operate from the contracted chinese firms in a bid to cut open racial costs by 50 percent china now owns more than 70 percent of kenya's bilateral credited date some of them are commercial loans leaving little or no room for renegotiation. for a bit and for decades fashion shows have now returned to the sudanese capital card

to male and female models are spreading their stuff on the runway 6 months after the sudanese toppled islamist president omar al bashir as part of a general easing in social respects sions sudan's interim government has allowed designers to show off their i.d.'s cartoonist seeing a cultural renaissance even if these polls are aimed at the more affluent. thanks for watching.

to the point. clear position on the international perspectives. america has followed suit but the outcome of the presidential election is posing more questions than answers fool who couldn't dream unite in reconcile these bits of a divided nation move on to the point short 40. 2 point. 016 . on t. w.

. with different languages we fight for different things that's fine but we all stick up for freedom freedom of speech and freedom of press. giving freedom of choice global news that matters d. w. made for minds. this is the news africa coming up on the program will be in caps on the edge of our seat to hear views on the opinions from across the continent from the election the house costs so much controversy and he said the date also coming up. we need more blot help authorities in uganda see the cone of violence from that make us cause the shell to jump blood supplies in the country and lives have been lost.