they should not have to risk their lives to do their jobs. you're watching the news we've got more for you coming up the top of the next hour coming up next monica will be here with all the latest business for you of course you can catch up on all our stories anytime you want on our website that's at g.w. dot com claims terri morrison thanks for watching. i think is everything churning 1st i'm going to be a muslim. so much different culture between here and there challenging for

everything. leads. to some business i think it was worth it for me to come to germany. got my license to work as a swimming instructor sure now our 2 children or 3 dogs just rushed out just. what's your story take part sheriff on in full migrants doc. file works on the trading floor just days before the new year's celebration us stimulus package that breaks its trade arrangement on the front of august backseat investor sentiment. as a good mood rubs off on oil prices we ask an energy experts about opec's next steps . out of the world's biggest film industry and terms of output. wood is feeling the

pinch. welcome to business i'm monica jones in berlin the good to have you with us and here i am and the markets are in a festive mood asian shares jumped on tuesday with japanese stocks hitting a 30 year high now that following record highs on wall street the broad rally comes as investors welcome the decision by u.s. president donald trump to sign a $900000000000.00 coronavirus economic aid package despite his complaints that 600 dollars payments for most individuals would go the package also includes $1.00 trillion dollars to fund a government agency averting a federal government shutdown that otherwise would have started on tuesday. well and for more on all this market action let's bring in our financial market correspondent hyundai in frankfurt good morning to you should it is any considering

the fact that most of the world is currently in lockdown this rally is pretty amazing tell us a bit more about the winners and losers who is gaining most. good morning monica it's in credible isn't it. the markets just don't seem to care what's happening on the main street and they've been on a bull run and it's been pretty much the story the same story throughout the c.e.o. . it's the usual suspects this time amazon google and apple they've been performing really well are the work from home stocks that's as zoom out on the fitness bike make netflix so all these stocks are the best have been the winners of the pandemic and then there's of course tesla which i've seen like a phenomenal rise this time this year 600 percent more than 600 percent but i have to think it's the investors and traders are looking into 2021 already they're

looking at a post pandemic future betting that these are vaccine and efficient rollout of the vaccine is actually going to ignite the world economy which would be perhaps greener and more digital going forward. hyundai there in frankfurt keep up the good mood we needed more than ever these days thank you so much. well a positive mood also helped oil futures rise during asian trading on hopes for an acceleration in economic activity now that is good news for all producing countries of course the golden days for the oil rich gulf region are long gone 1st they had to deal with the u.s. through letting the market with their frakt oil and now demand for oil is low because of the groan of ours pandemic and the worldwide economic downturn the german institute for economic research estimates that the revenues of the oil exporting gulf stop states plummeted by about 60 percent you saw that curve just

earlier now that's a problem because the gulf states are nodular dependent on income from oil exports in concert right for example more than 50 percent of government revenues come from the oil sector in kuwait and saudi arabia it is as high as 90 percent of or more i'm joined now by dawood unsorry his research associate in the energy transportation and environment department of the german institute for economic research the institute that also is responsible for the study i just mentioned good to have you with us please tell me what's it take for the oil price to recover opaque normally has a say in that by throttling production or by increasing supply so what's it take for the oil price to rise again.

eventually an end to the pandemic is the most important factor but other than that well opec has been doing a pretty good job since since october because the result of the last meeting of showing that stability and cohesion within opec is pretty much the next best thing they can actually do besides the very strong production cuts that have there are in place since me he mentioned that the pandemic is playing a big role there i mean what impact does it actually have on the economic situation and the gulf region. will eventually have tremendous impact on the off region and south so we for all of these that we 1st see stand results ability europe in terms of reduction in overall g.d.p. to wrist have been have not been attending but besides that obviously given that the all sector is such a tremendous tremendous impact on the countries. having decrease our consumption of

less than. of less than 12 to 10 to 20 percent. during the pandemic that is an extraordinary disaster for these countries. this is why we've actually seen also production cuts in place since may 2020. being there in order to stabilize the price nevertheless it will ultimately need. me to long term stable as all prize in order to lead this economy back to stability what could to perhaps a shift from fossil fuels to renewables help those economies to stabilize in the long term when do you think we will see that shift. frankly i not don't really know if we will ever see that shift or at least if we will see a voluntary and a gradual shift in these regards diversifying the economy is something we do find for instance in saudi arabian government objectives since literally 975 so although

there's often pictured as a very contemporary challenge it is something that people are talking about for a long time and until now results have been very limited so there are some some cause some generate some policy programs that are so far they have not really yielded any lab success which makes a lot of sense given that these countries given that the royal family is given that just the way these companies work is entirely linked to the oil business and to its revenue the right sorry energy expert at the german institute for economic research thank you so much thank you. tom now for a quick look at some of the other business stories making news. the controversial north stream 2 gas pipeline has been completed in german waters that's after a 2.6 kilometer long portion of been stalled for months by the threat of u.s. sanctions continues in danish waters altogether the pipeline will cost almost

$10000000000.00 euros and transport russian gas to western europe. e.u. member states say the necessary political backing is in place for a controversial investment pact with china clearing the way for a deal between the world's biggest economic blocs the pact will open the chinese market for further to e.u. investors while brussels is set to soften its stance on chinese investments in europe. spain says spanish commuters to the british territory of gibraltar will be exempt from border controls after breaks it even without a free movement to deal with trade in london are negotiating how to police the border left out off last week's trade deal between the e.u. and the u.k. . talking of which businessmen in the u.k. have been for reflecting on the how this new trade arrangement between britain and the e.u. will affect them time is of the essence as they only have 4 more days to adapt

until the transition period ends and the new rules apply. peter wood's heels were prized by his customers in germany sweden and lithuania but now he fears his e.u. customers will look elsewhere for supply after the new breaks rules come in on january 1st the deal involves a vast amount of paperwork. we will produce the documentation but unfortunately customized have also got a roster of documentation to produce to allow the import to go ahead so why buy from the u.k. might as well buy it for the no producer and for us who can deliver to the dole mo documentation no problem peter wood says he would never have voted for banks that if he knew he was going to this is job. the british government acknowledges there will be specific challenges but the biggest obstacles are out of the way. working more intensively with business in order to make sure that everyone is ready for the

new opportunities and challenges that come after the 1st of january i think business is broadly in a good place but inevitably with any change with any transition there are occasional bumpy roads the confederation of british industry wants the government in london to translate the deal which is more than a 1000 pages of legal text into practical guidance for business owners like peter one the clock is ticking. the entertainment industry has been one of the victims of the coronavirus pandemic hindi cinema also known as bollywood normally office millions of us an escape from the drudgery of daily life but endemic restrictions have left their mark on the world's biggest film industry . glitz glamour stars and professionally choreographed song and dance the ingredients that make bollywood films unique worldwide. behind the glittering façade are many day laborers. they form the backbone of the film industry. a

single film used to mean hiring more than a 1000 people but today's productions are much smaller. all the big stars and big roles are not stopped there starting with the upcoming new york almost and we had them in well. before we had enough they. laid department of how many markets. and i would come along 5 or 6 members and i know the law gloria for being now it is not there. due to the coronavirus authorities now impose restrictions on certain popular wedding scenes involving multitudes of guests are banned as are hugs and kisses and fight scenes therefore the pandemic bollywood produced about 2000 films annually more than anywhere in the world in 2020 that number has tumbled to less than half. so it does affect it

severely. and i'm quoting the daily wage laborers as well as technicians as well as this so it was a serious damage actually so it might take another corporate 3 s. go to court on this effect i guess so yeah this is a serious damage serious damage which we didn't expect that. after shutting their doors for nearly 7 months india cinemas reopen in october under strict conditions every other seat must now remain empty but the reopening represents a glimmer of hope many people are counting on a happy ending next year with a comeback for the bollywood dream factory. that's your business thanks for watching.

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