to say billions and subsidies and loosening regulation or get more of this from brussels. 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, downslope, and normally wouldn't even have any snow after us cover gotten to the program. it is a major announcement from the you to supercharge computer chip production, the so called chips act announced earlier today by the european commission, foresees over 40000000000 euros and subsidies for the industry and for much faster expansion of production than previously planned. the goal to prevent supply chain problems that have played businesses in many industries. for months? yes, china and south korea have invested millions in their countries. the semiconductor infrastructure. now the you wants to follow suit for more. here's our brussels correspondent boundary. yet,

europe should be the home of the next industrial revolution. said the president of the u commission. ursula found a line to day in brussels. she presented unambitious plan to spend 43000000000 years over the next 8 years to boost the semiconductor industry. in europe, she wants a market share of 20 percent and not only 10 percent globally for europe to day europe is leading in the production of the machinery that is printing the semiconductors. but europe also has to have the end production of the semiconductors in europe. this is the aim of the u commission, and the commission is also aiming to gain more independence from suppliers in asia, especially china. but to have the whole supply chain in europe can be a costly endeavor, wants some experts, it could just be cheaper and remain cheaper to produce. in china,

dw is banned. he got 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, and i p. o of the chip maker instead. chips based on our architecture are almost all smartphones, regulators, fear, 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, is 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 cargo being stuck? well that actually a lot of reasons for, for the traffic jams, you know, it sounds like a contradiction that we have a lot of trade and disruptions in 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 that we cannot cope with huge demand still. and then there also are

some small disruptions at the ports where the on the con wave led to a workers missing shifts. and this leads to, to congestion worldwide. all their short term solutions to this problem or do we just have to wait it out? and actually 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 per the noise. that especially china is spared from, from the article base. in 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 religious. i cannot comment on the pandemic situation in china. but if china ranked to outbreaks of the wrong number, i was, for example, in the army wave with it's the recovered strategy. as he said, it's part close with might be individual. so this will continue to cause to disruptions. and so we must, the, some sort of chain policy change there in order to guarantee smooth transaction and the future been to summer 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 it's spyware, was previously linked to ease 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 e was broader regulatory crackdown on big tech companies. you as low cost carries frontier airlines and spirit airlines have agreed to merge the deal valued at $6600000000.00 book read 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 that 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 as 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 visitors to be coming and for them to be gearing up to welcome international visitors back to australia. prior to the pandemic, the tourism industry generated around $85000000.00 u. s. 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 fadia, 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 us. 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 news sports industry is taking skiers down slopes, which normally wouldn't even have any snow fabia and customer reports. one of the big game changers fuschia is from badging, is this brand new bullet trailing from the capital to chung the and her bay province. if you as her to have a, it took your letter 3 hours for 4 hours, but you took the train fully take like, wow, strongly it's hosting most snow sports during the 2022 winter games. and just a short right from the station is tied to a ski resort designed by canadian pianist echosign featuring 30 slopes and surrounding an alpine style village. it opened in 2015 shortly after beijing 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 from lake lake and the whole area now and, and of building i think it's quite caught my eye, but amid lingering fears of an omicron outbreak tight measures and place that will dampen the economic benefit of the olympics, projected to cost $1560000000.00 and operational spending. the event will neither boost domestic consumption nor trevor. and since no tickets are sold to the public, an estimated $120000000.00 in revenue won't be generated. title won't host any of the olympic 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 in snow sports. it seems like a safe bet. official industry figures show the number of skiers and 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 snow fall 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 bed and the modest peaks. many visitors a snowboard series is law, young people started snowboarding, thing is more cool. and so again, we don't have very high altitude here. so maybe more, more for regardless the infrastructure that's under development. coupled with china's ambition for medals in 2022 and beyond. mean the future of snow sports year? looks right. and is a 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 ah, with

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solutions or out the join me for a deep dive into the green transformation. for me to do with ah, ah, ah, ah, this is dw news. why? from berlin, a diplomatic frenzy to avoid war on europe's eastern border. frank president and my new on marque, ron holt crisis talks with ukrainian president, lot of mirror zalinski in care of.