and they're going to get west me to do something now a red warning signals, a risk to life. so it's harder to cope with these types of temperatures in the u. k, because we're just not used to them. so our bodies are not acclimatized. these types of things, and we don't have the houses designed to keep cool, we don't have air conditioning, and our infrastructure is not built for the heat. you k hospitals have already won't of effect in heat related admissions. you know, up to date here on t w. business news is up next with christy pots and i'm jar grade in berlin. they turn to that. ah for i'm you can that i want that's hard. and in the end is a me, you are not locked up to you anymore. we will send you back. are you familiar with

this with the smugglers, with lions as of the what's your story. ready i mean, wasn't, i was women, especially victims of violence in a lot of them take part and send us your story. we are trying always to understand this new culture. so you are not a visitor, not the guests. you want to become a citizen in phil migrants, your platform for reliable information with ah, you as president joe biden needs a helping hand with oil prices and how he's visiting saudi arabia. but what can the kingdom really do? also on the show g, 20 finance ministers gather in bali ready to act on world hunger and the war and

ukraine. but will they accomplish more than pointing fingers at russia? and diamond mining, turn things around for botswana now sanctioned on russia's gem trade. could give the industry an even greater boost. i'm christy. pleasant. this is d w business. well, it's over to the middle east where president joe biden has visited saudi arabia on friday. oil prices are a major concern back home in the u. s, and no one has more to say on global supply than re out. a crisis can also be an opportunity. as these 2 men known mohammed been said, mind the saudi crown prince and the crown prince of abu dhabi mohammed pennsaid no wonder they're in a good mood. their country's oil is more sought after than ever. crude prices of only just fallen slightly after staying stubbornly over $100.00 since the start of the war in ukraine. the enforcer that may be the last

opportunity for these countries to profit economically one more time and earn high revenues with oil production on the face of a global trend towards renewable energy. dr. marbella, fuck on, look at the the late leap in sentiment has been courting the attention of the vest . once again. he had been a pariah for years, leading a military coalition into the devastating war in yemen than the murder of journalists. shamal cush augi in which been said mon was allegedly directly involved. ah, only russia's president boot and warmed up to him and been said mon will not want to jeopardize that relationship. definitely is kind of a personal solidarity moment between them. that is definitely a policy and react today to seize the moment to send a message and to, you know, to show wide and clear what is actually true, that saudi arabia matters to them. the saudi royal family kept mostly friendly

relations with the us under president trump. the u. s. has been traditionally their most important ally, but been said, man has a cool relationship with his successor, joe biden. our saudi and abu dhabi leaders willing to budge on oil output for biden, for now at the saudi crown prince has played the crude guard cleverly re establishing his country on the energy market and himself as the pivotal actor on the world stage. well, for a market reaction to the significant visit, i wanna bring in my buddy young corta at the new york stock exchange either. yes. so we know that biden is likely to leave saudi without making a public announcement on the oil supply. but you're there at the exchange, tell us how have markets reacted to his visit. christy, they have not been any commitments, but they have been some remarks from joe biden after the meeting and he said he's doing everything within his power to make sure to increase demand in the united

states. well, i mean, you can't force the private company years to do so, but that's at least that's intention to try everything possible. if you look at saudi arabia that's a bit different. the crown prince theoretically could order to just pump oil more oil, if that it technically possible. there's a lot of guessing if saudi arabia could increase production even if they wanted to with the no real commitment, but at least some intention to increase production on both ends. so the price actually didn't increase a bit and the friday session for the week oil is down by about 7 percent, but that's not because of the meeting, but because of global recession fears ok, yeah. well, we know that oil and energy is obviously a major factor playing into the u. s. and the global economy right now. we also saw the 2nd quarter financial results for banks out this week. can you tell us, what did those results say about where the economy is headed?

yes, sure. i mean, so far we've gotten the numbers from j. p. morgan, for instance, the biggest bank i'm in the united states are from city group on friday. and what those bank 7 common, that obviously they're looking at quite some headwind. that's why they're putting money aside for a possible credit and losses in the hundreds of millions of dollars embedded. dragging a profit down at this point. so all the bank so far and have announced that a pretty steep profit decrease, they're still profitable, but not as profit profitable as they were before. it was anyhow. interesting to see on fridays city beating estimates on wall street. the stock was up by a stunning, 13 percent, and now on monday, the bank earnings continue with the numbers from bank of america and goldman sachs, but i expect a similar, sorry. thanks for that yet. i will check in with you on monday china has

reported weaker than expected growth adding to an increasingly bleak economic picture around the world. the chinese economy grew just under half a percent annually between april and june, a period of time that includes a major lockdown in shanghai, the world's largest port. that's according to figures released friday by raising china has forecasted the growth of 5.5 percent this year. a goal that most analysts say is all but impossible at this point. now, earlier we spoke to president of the european chamber of commerce in china. your worker, he said loc downs in china 0 cobit strategy are clearly impacting the country's economic recovery. well, today's data set up can improve the 0 tolerance comes at the price. i mean 0.4 percent growth year and year is virtually nothing. they are targeting still 5.5 percent for the whole year. that seems to be impossible. and just keep in mind that today we're still suffering from low down. so similar down 31, cities are still in this kind of condition, which means a cool,

250000000 people are suffering from 70 locked on a lockdown for 75 percent of g d p is hit like this. so in a way, it's not going to go away, it's actually just maybe the start. so it's very worrisome for european business how the economy is developing right now. like every other event this year, the g 20 summit in indonesia is being overshadowed by the impact of russia's attacks on ukraine. the finance ministers and central bank chiefs from leading industrialized and emerging economies are gathered there. now to discuss a laundry list of global economic woes. the challenges are mounting. how to bring an end to russia's war against ukraine. what to do about a hunger crisis that threatens millions, while the 20 finance ministers could deliver concrete answers and may even set up a framework for cooperation. expectations are low. the indonesian government hosting this year, summit warns of the consequences of failing so that people threat of

war shifting commodity prices and increase global inflation. that can also increase and creating areas below over to debt. not only one low income countries, but also in the middle income countries are even at bottom economy. she added these factors could lead to more hunger and even social unrest. us treasury secretary, janet yellen is accusing russia of being solely responsible for the economic problems now facing the world pollutant sections, including the destruction of agricultural facilities, 5th of green and farm equipment, and the effect of black. he'd like see ports amount to using food as a weapon of war. those most directly impacted are the poorest

households and the poorest countries yellen is calling for a price cap on russian oil to drive down energy prices and to deprive the russian federation of revenue. what many summit watchers will be following closely is with are countries, particularly china and india, will heed this call. western sanctions against russia are transforming trade relationships around the world. and that's nozzles for oil or grains, but also for precious stones. our correspondent adrian crease recently visited botswana in southern africa to learn how the diamond industry there stands to profit for brushing sanctions. for 2 years, killable, he led cloquet lang struggled to fight the job after finishing school. when she was offered a trainee position at this diamond processing factory and do a lease in the thing though. in the tammy i please, amy,

so 8 make nissan and damien, the dame and nigger, they're very sensitive and in okay, a problem for years the country has been pushing to not only export rough diamonds, but also to attract companies that processed them here too. and in value and creating jobs. now more than 30 companies cut and polish diamonds locally. so the name boots on under garment is quite our pro diamond industry. now it is the main industry for most wanna ease of doing business in botswana for diamond printing and polishing is, is, is quite a white l thing. why people are easily able to come here instead of the businesses landlocked boards. one, i was once one of the poorest countries in the world until it discovered vast diamond deposits in less than 20 years. that had turned itself into

a success story as well as the middle income country. but the success wouldn't have been possible without this mine and winning the richest diamond mine in the world, employing more than 6000 people. the government struck a unique deal with the world's biggest diamond corporation, the bias, each site owns 50 percent of the mine. this is the richest them one, sir my and by a value in the world. and basically the, we are the big bono for, but honestly put them in pending demand. they could still increase their output. since russia, the world's biggest diamond produced by output is facing sanctions. the 2nd biggest producer board swanner is eyeing a bigger market share. russia currently can't export diamonds to major markets like the u. s. and diamond prices have spiked by 20 percent since the beginning of the war mining companies and the government here are only cautiously talking about possibly filling this gap. but economist rudolph boy doesn't believe they should.

they should take advantage of the cases in europe. the way new crate is very, it's very painful. i watch news every day. i don't like what is happening there. ah, but you know, in, on economic point of view, they come to put on, i should have started remote levels on a dumb ones for that. not these are the best down ones. those are now blended our ones. back at the diamond processing factory. julie will really look, billing is hoping to get a job as a publisher when she finishes her training, and chances are goods, the company's expanding and constantly hiring new people. well, that's our shawl for more. check us out at d. w dot com backslash business. for me and the whole team here in berlin, thanks for watching. what's making the headlines and what's behind them? dw news africa. they show the faculty issues shaping the continents. life is slowly getting back to normal here on the street to give you enough reports on the inside

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