you case because we're just not used to them. so our bodies are not acclimatize these types of things and we don't have the house. it's designed to keep cool. we don't have air conditioning, and our infrastructure is not built for the heat. you k hospitals have already warned of a surge in heat related admissions. you're up to date here on t w. business news is up next with christy plots and is of course more on our website, d, w dot com and on social media where i'll handle is at dw news. i'm directory to billing, thanks to with people and trucks injured one, trying to flee the city center. more and more refugees are being turned away. families played on the tax in syria for the credit on,

with extreme us getting $200.00 people in june around the world. more than 300000000 people are seeking refuge as to why? because no one should have to flee. make up your own mind. d. w, made for mines. ah, ah, you as president joe biden needs a helping hand with oil prices, 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 know, how much been set in mind, the saudi crown prince and the conference of abu dhabi mohammed been said, 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 done high

revenues with oil production on the face of a global trend to watch renewable energy. dr. marbella fuckin with a diva late leaf and solomon 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 rushes to president boot and warmed up to him. been said man will not want to jeopardize that relationship. definitely there is kind of a personal solidarity movement 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 so man has a cool relationship with his successor, joe biden, are saudi and abu dhabi leaders willing to budge on oil output for biden, for now at the saudi crown princess 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 margaret 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. the kristi, they have not been any commitments but the 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 it's intention to try everything possible. if you look at saudi arabia that's a bit different. the crown prince, the radically could order to just pump. now, 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. 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?

yeah, 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 banks have in common. that obviously they're looking at quite some headway and 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 banks so far and have announced a pretty steep profit decrease, they're still profitable, but not as profit profitable as they were before. it was the anyhow. interesting to see on friday 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. yes, i will check in with you on monday, china has reported weaker than expected growth adding to an increasingly weak

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. you're a worker, he said locked downs in china, 0 covert strategy are clearly impacting the country's economic recovery. well, today's data set up, can you prove that 0 tolerance comes at the price? i mean 0.4 percent growth year and year is virtually nothing. they're talking still 5.5 percent for the whole year. that seems to be impossible. and just keep in mind that they were still suffering from locked down. so similar down 31 fifties are still in this kind of condition, which means a cool, 250000000 people are suffering from semi locked on

a lockdown for 75 percent of g d p is hit like this. so either 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 attack 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. his ding, commodity prices, an increase global inflation. that can also increase ad creating areas bill over to debt. not only what 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. boone sections including the destruction of agricultural facilities, theft of green and farm equipment, and the effect of black. he'd black 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 their countries, particularly china and india, will heed this call. western sanctions against russia are transforming trade relationships around the world. and that's not just 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, kill a booklet cloquet lang struggled to fight the job after finishing school when she was offered a training position at this time and processing factory. and do any fancy things, though, in the tammy i police a mixer,

a lake nissan, and, and damian. the dame and nigger, they are very expensive 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 to adding value and creating jobs. now more than 30 companies cut and polish diamonds locally. so the name, but for another 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 botswana, 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 wanting the richest diamond mine in the world, employing more than 6000 people. the government struck a unique deal with the world's biggest diamond cooperation dubious. each site owns 50 percent of the mine. this is delicious day 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 producer 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 would of boy doesn't believe they should.

they should take advantage of the cases in iraq. the one ukraine is very, it's very painful. i watch news every day. i don't like what is happening there. ah, but you know, in an economic point of view, they come to put, some should have started to promote. they put on a dumb ones for that, not these are the best, the 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 is expanding and constantly hiring new people. well, that's our shell for more check us out at d, w dot com backslash business for me and the whole team here in berlin. thanks for watching. to the point. strong opinions, clear positions, international perspectives after claiming the capture of ukraine's johan region, russian troops,

no one to take full control of neighboring thunder. so what's next for vladimir putin and doesn't have enough time for more. find out on to the point shore. to the point with d, w, they were prisoners of turkish president era to 13 german citizens held in turkey. the charges for politically motivated, their arrests were completely arbitrary. more and less them was deep mental, linguistic, back in germany, they talk about their warranty. political prisoners in murder, one's turkey. in 45 minutes on d, w ah, someone else to the tv highlights, it's selected for you. you every week in your

a box. subscribe. now. imagine how many portion of love thrown out in the world right now? climate change, if any, off the story. this is my flex the way from just one week. how much was can really get we still have time to go. i'm going on with success. his subscriber all morning is like with as the crisis in ukraine continues to intensify. so does the relentless wolf woods in and around the conflict. vladimir putin shocked many by saying rushes invasion of ukraine has only just begun. one thing is for sure with have you shout.