these and loosening regulations will get more and us from brussels. also coming up the recent report states world track us back to pre pandemic levels. but a good chunk of the cargo is stuck at sea will tell you why. and we'll go to china where a winter, olympic induced sports industry is taking millions of new skiers down slopes that normally wouldn't even have any snow. i'm chris over welcome to the program. it is a major announcement from the you to supercharge computer chip production, the so called chips act being unveiled today by the european commission. it's expected to direct over 40000000000 euros and subsidies to the industry. the goal to prevent supply chain problems that have plagued businesses in many industries. for months. the united states, china and south korea have invested billions in their countries semiconductor infrastructure. now that you wants to follow suit for more years,

our brussels correspondent and we get the u commission wants to mobilize more than 40000000000 euros to beef up the development and production of semiconductors in europe. the production should be heard drupal in the next 8 years. the aim is to gain independence from asia and the united states where the bulk of production is taking place. right now. the problem is that the supply chain for semiconductors is pretty much globalized. raw materials and chemicals to produce them come from china . they are developed in the united states. and europe is building the machinery that is needed to print the semiconductors to get the whole supply chain into europe. will be very costly and very difficult. experts say, but they use very eager to get the semiconductor production to europe because this is and strategic acid steel and coal where the backbone in the industrial age.

semiconductors will be the backbone for the digital economy. and another chip news deep, 66000000000 dollar take over to violated my good mazama dw, has been doing a reporting from brussels there. and another ship news, the $66000000000.00 deal to take over the chip designer arm by the industry giant and video has fallen through reportedly due to resistance from competitors and competition. regulators arms owner, soft bank is now planning an i p. o of the chip maker instead. chips based on arm architecture are in almost all smartphones. regulators feared and video could have used arm to unfairly dominate the market. all right, let's talk trade and global trade is rebounding. that's the good news, according to germany's keel institute for the world economy volumes have now even surpassed levels seen before. the corona virus pandemic world trade

rows 2.4 percent in january compared with the previous month, which is higher than pre crisis levels. most of the increase is coming from western countries like germany and the united states. at the same time, 11 percent of all goods shipped worldwide are currently stuck in traffic jams for a closer look at the story. let's bring in vincent stammer. he's an economist at the keel institute for the world economy. good to have you on the program, vincent, what are the main reasons for this carnival being stuck? well, the actually a lot of reasons for, for the traffic jams, you know, it sounds like a contradiction that we have a lot of traits and disruptions and the content shipping network at the same time. but it's actually the huge demand for physical goods and orders that replaced in

$21.00 at that and now being delivered. this creates a huge demand for us for the transportation capacity. and the capacity just cannot cope. the supply of transportation network cannot cope with huge demands still. and then there also are some small disruptions at the ports where the army can waive, let's to workers missing shifts. and this leads to 2 ingestion wind, all their short term solutions to this problem or do we just have to wait it out? infection the only long term solution is like investments in, in the infrastructure. in the short term. we can only hope that the american wave subsides without further noise. that especially china is bared from from the army can base an addition to that, that the consumers worldwide rotate their consumption back from physical goods to services such as travel. this would ease up some of the constraints on the

container shipping network. now you mentioned china there, which is obviously a massive player when it comes to world trade is smooth, uninterrupted, world trade even possible. as long as china sticks to its no cove, its strategy which does imply that there will be factory closers. there will be port closures. at the very least, it's very unlikely. i'm not a religious. i cannot comment on the condemning situation in china. but if china ranked to outbreaks of the grown up drivers, for example, the mac wave with it's your coven strategy, as you said, it's part close with might be individual. so this will continue to cost to disruptions. and so we must see some sort of change policy change there in order to guarantee smooth transaction and the future mentors dahmer of the keel institute for the world economy. thank you for talking to us and now to some of the other

global business stories making headlines around the world and israeli newspaper ledges that police in the country use software to spy on the son of former prime minister benjamin netanyahu, spyware named pegasus, comes from an israeli company and his own group, which is mired in controversy after its spyware was previously linked to east dropping. social media giant meta warns it could shut down facebook and instagram in europe if it's forced to overhaul its data privacy practices and stop transferring user data to the united states. the dispute is part of the use broader regulatory crackdown on big tech companies. you as low cost carriers, frontier airlines and spirit airlines have agreed to merge the deal valued at $6600000000.00 will create the nation's 5th largest carrier. the 2 airlines to say they are expecting annual consumer savings and are looking to expand services with more than $350.00 aircraft on order. b,

p returned to profits last year, looking 6700000000 euros. as oil and gas prices searched it was a strong year for the british energy giant following a huge loss. your prior aside from profits, the company also announced plans to accelerate its target to reduce operational carbon emissions. let's turn to australia now and for almost 2 years, it's been almost impossible to get into the country amid the corona virus pandemic, australia initially closed its borders even to its own citizens, then opened up only gradually to some visitors with visa and proof of vaccination. now, australia wants to welcome all travellers again, as long as they meet the requirements. the news was delivered by the prime minister himself, the strider will reopen out bout us borders to all remaining visa holders on the

21st of february of this year. of course, strict vaccination rules still apply. if you double vaccinated, we look forward to welcome you back to australia and i know the tourism industry will be looking forward to that and over the next 2 weeks. as i will have the opportunity, both for visitors to be coming and for them to be gearing up to welcome international visitors back to a stride you. prior to the pandemic, the tourism industry generated around $85000000.00 us dollars in annual revenue and employed about 5 percent of the australian workforce, or least some of those jobs have come back. many restaurants and bars remain closed, even though australia started well coming, visitors from singapore last november. and then japan and south korea a month later, it was high time for the rest of the world to come back. almost all the thought of the country is open, therefore it is like not as radio, but it, so it was really difficult and you know, so many people went to depression because they had got

a lot of plans and does. and now i'm really happy that it's got my son has made that announcement yet. menus trillions. now hope that their streets will see some crowds again, after all, many businesses count unhappy travellers and that deep pockets barely 25 years ago, china had just 9 ski resorts, according to official data, but fast forward to today, they are now close to $800.00 of them spread mainly across the country's northern regions and with the beijing winter olympics. in full swing, a booming near sports industry is taking skiers down slopes, which normally wouldn't even have any snow fabia and catch my reports. one of the big game changers for skiers from badging, is this rent you bullet train link from the capital to chung the in her bay province. if you was there for have a it took your letter 3 hours for 4 hours or so. you took the train fully take lego

hours strongly is hosting most snow sports during the 2022 winter games. and just a short ride from the station is tied to a ski resort. designed by canadian plain us echosign featuring 30 slopes and surrounding an alpine style village. it open and 2015 shortly after bating one the right to host the games. i re, i think people are really, really excited to have this and that coming over by in terms of like down and entities for lake lake and the whole area now. and then the building. i think it's quite coin, but amid lingering fears of an alma chron outbreak type measures and place that will dampen the economic benefit of the olympics, projected to cost $1560000000.00 in operational spending. the event will neither boost domestic consumption nor trevor. and since no tickets are thought to the public, an estimated $120000000.00 in revenue won't be generated. title won't host any of

the lumpy competitions, but it will provide accommodation to some of the 10s of thousands of visitors coming to the games. it's operators are hoping to cash in on long term growth and snow sports. it seems like a safe bet. official industry figures show the number of skiers in china rose to just under 21000000 and 2019. that's over a 1000000 more than the year before, but there is one downside. despite the very beautiful mountain scenery and the state of the art facilities at the region has really one major problem. there's almost no natural snow. the region averages about 20 centimeters of snowfall annually. the results are heavily reliant on snow making machines to give people the powder they need for a quality skiing experience. but people here are adopting to that and the modest peaks. many visitors a snowboard series is law, young people started snowboarding. thing is more cool. and 2nd,

we don't have very high altitude here. so maybe more mobile friendly. regardless the infrastructure that's under development, coupled with china's ambition for metals in 2022 and beyond. mean the future of snow sports. yeah. looks right. and his reminder of our top story at this hour, it's a major announcement today from the you to supercharge computer chip production, the so called chips act being unveiled today by the european commission. it is expected to direct over 40000000000 euros and subsidies to the industry. the block wants to co drupal chipped production in the coming 8 years that social thanks for watching ah, with

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