and protests, moderation officials say good bye yo rodge boxer and his wife forwarded in air force, plain headed to the mold eaves who was affected to resign. this week. crowds continued to occupy his former residence in the capitol colombo and you're up to date on your business news up next with christy plants. and i remember there's always more news on our website. that's d w dot com. i'll be back at the top of the next. i will with more news. thanks for joining us. for her, i'm just kinda. i think that's hard and in the end is a me, you are not a lot us to you anymore. we will send you back. are you familiar with this with the

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rising scarcity. and what does croatia think about the euro? it's switching to the currency next year. but not everyone is thrilled about it. i'm christie plaza. this is d. w. miss business. the euro reached $1.00 to $1.00 parity with the us dollar on tuesday, continuing a downward trend. the product with lowest value in 20 years. rising interest rates and a relatively stronger outlook in the us have helped fuel and ongoing dollar rally. meanwhile, in europe, fears of slowing growth within the euro zone, driven by the war and ukraine and developing energy crisis are weighing on investor sentiment. well, earlier we spoke to the w correspondent, christine mcguire about the, to currencies. she told us, this is the 1st time in her career, she seen dollar euro parity is the tale of 2 currencies, right? you have as a soaring doll and you've got a sinking gear, of course, at the dollar, strengthening on, on expectations at the fed is gonna go foster and further in terms of its interest

rate hikes and in the sinking euro. and, and the big issue here is genuine concerns. the fear that russia is going to cut off gas supply to, to europe. and that is going to be devastating. you've got the german economy minister at repeatedly warning on domestic television that the winter is going to be really, really brutal. now. added to that is, of course, is consistent trend that we're seeing here in europe of slow growth and high inflation. and so policy makers are lipping to target, particularly that and yours own finance ministers are meeting to daycare in brussels. going into that meeting, they talked about having to address those issues, how to fight those inflationary pressures to ease the burden of european citizens. but also look to stimulate and growth across the years own because that is a big concern. well, for the view from the us, let's bring in my call again quarter in new york. now. yeah. and we just heard from christine, we understand why the euro is weak, but can you tell us, why is the dollar so strong right now?

well, i mean, one of the main reason that the dollar is red talk to because of interest right here in the united states. as we already heard, we see the federal reserve for a very aggressively trying to fight inflation. so just recently, we had the biggest increase of interest rates than more than 20 years. and at the next meeting, we about the another increase by at least 50, if not even a $75.00 basis points. how much the federal reserve is going to increase interest rates from here on also depends by the way on inflation. so on consumer prices, we will get fresh data on that on wednesday. ok, well, what effect is this going to have on the u. s. economy or even the ripple effect outside of the global economy. what can you tell us? christy clearly has a huge effect on many levels. so if you look at some emerging markets, for example,

countries to hold that in us dollar. i mean, for them, it's really painful if the dollar is going up here in the united states. i mean, the biggest economy on the planet does not so much depend on exports. so therefore, the country can probably resend the higher dollar. but if you look at some of the big multinational corporations here in the united states and they bring their profits back from abroad, so that's going to hurt margin and to profits on that level. and then what we've already seen here on tuesday, i mean all the commodity is oil goals. other commodities are all actually traded in a dollar. and therefore we already did see the prices of those. come out commodities coming down quite a bit on tuesday for example, a loan oil last about 8 percent in value, but that at least is coming at

a trend. i would say that at least some of the commodity price is according well, we'll be checking in with you on this topic going forward. yes, thank you so much. well, croatia is scheduled to switch over to the euro beginning next year with 6 months ago. however, not all creations are excited. some don't want to give up their beloved coon, up and with inflation on the rise worldwide. there's also concern that being part of the year ozone will drive up the cost of living even more. well, our reporter fanny for shar reports from dubrovnik miles and miles of every attic coastline. nearly 20000000 people came to visit croatia in the year before the pandemic tourism is a key source of revenue. until now, you paid with this to corner the local currency, but croatia wants to add up the euro next year. and creations are split over the question of who will benefit from the new currency. this is the place mo,

stories one to seen dubrovnik, the old town, the sun such views from our there are pretty amazing for 20 euro per person. and we've unhook of each guides tourists from pull lane, u k, and canada through dubrovnik. the war and ukraine means hundreds of thousands of russian ukrainian tourists are staying away. he hopes the euro will mean even better business. people will spend more money if it's only euro's own and they are going through is only $1.00 currency annually from tourism. answers them, secretaries and vast majority of the business and revenue increase asia. but for locals, living in dubrovnik is getting pricey. inflation reached a new record in may 10 point 8 percent. net. i'm not happy. i have a 400 year old pension. what can i do with it? nothing. the fish vendor says where the euro prices will go up through the because

every one will round up prices. he would prefer to keep the kona, he sang. a mom as we well, we have our own currency. if anything, during this unstable times of war happens with euro crashes, we would have earned currency and the state could function below. martin cru stole of h represents the citizens of dubrovnik, right? he fights for affordable housing. you know, you don't have people who would pay rent in the old town. one bedroom is more than $500.00 euros too much for locals. there. everett income, 800 euros. could you, bright is our old radio catastrophe. inflation is officially just 10 percent, but if you asked people in the restaurants law prices are already up by 30 percent . and this was which of the 3 that said was according to one recent pool, the majority of creation. se agree that prices will increase with the euro and only

one 3rd believe crochet is ready to introduce the new currency. nobody can say how switching from the corner to the euro will ultimately affect prices. only one thing is clear, just like this old coon bill from the last century on sale here. the modern coon out bank no to will soon be an outdated currency. now to some of the other global business stories making, there's opec is expecting oil demand to grow in 2023, but slower than it did this year. the forecast is part of the cartels monthly report released tuesday benchmark brent crude prices fell on the news. meanwhile, u. s. president joe biden is visiting saudi arabia later this week. he hopes to convince opec to increase oil production spain plants to impose a new, temporary tax on banks and energy companies, which would bring in $7000000000.00 euros over the next 2 years. government leaders say part of the windfall profits generated by rising prices must be returned to

citizens instead of quote, fattening salaries of big business leaders. heathrow airport has introduced a limit on the number of departing passengers. as of tuesday, only $100000.00 people per day are allowed to fly out of the london hub. officials say the cap is needed to ensure proper service and avoid disruption. the limit will stay in place until mid september. while ukraine, russia and to turkey will join the united nations on wednesday for a new round of talks aimed at freeing up grain exports from ukraine. that's according to russian media reports. the announcement falls, growing global pressure for more political solutions to rising prices and growing scarcity of commodities like wheat and corn. more nations are warning of urgent food crises and even starvation within their borders. the weak crop is mature and ready for harvest here in need. pearl pet, bronowski, 400 kilometer se of the capital keys. but as the grain warehouses are filling up,

the war is drawing closer. why assume there's no good dries for our grains discharged facilities refuse to receive them, so farmers have to leave them here. the front line is not far and at any moment, all of this could be destroyed by a bomb or a field could be set on fire. working in the field is dangerous during war time. farmers are constantly on alert for rocket fragments or projectiles embedded in the soil. and there's a backlog. more than 20000000 tons of grain from the last harvests are still piled up and warehouses. those crews are ukrainian grain cannot enter the international market because ports are blocked above the sea route was the most important, but now it is an option. so the demand for our grain as decreased. lindenwood porpoise measures of some new logistics routes through europe are being developed with europe. can't handle the large quantities of grain reproduce that a lot or skin movement of darya. ukrainian farmers are stuck with their we and are

missing out on vital income. in peacetime, ukraine exports about 30 percent of its grain to europe, 30 percent to north africa, and 40 percent to asia. who finds the solution, whole open support because result open in ports, i don't sees it. the ukranian form was, will sort and it feels to if ukrainian farmers who will not survive rule and be able to feed in african countries even if current grain stocks could be moved. experts warn that this year's wheat harvest in ukraine will be meager, a coming european heat wave threatens to cause a major drought piling further pressure on ukraine's farmers. and a reminder of the top business stories were following for you. this our, the euro reached $1.00 to $1.00 parity with the us dollar on tuesday. continuing a recent trend that's put it at its lowest value and 20 years. rising interest

rates and a comparatively stronger outlook in the u. s. have helped fuel and ongoing dollar rally. ukraine and russia and turkey will join the united nations on wednesday for a new round of talks about freeing of grain exports from ukraine. that's according to russian media reports. ah, well that's our show from me and the holding business team here in berlin. thank you so much for watching. ah ah, full throttle through the desert. before l, sasha, a dream comes to the 1st women rally in saudi arabia. a special day for the

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