you k hospitals have already warned of a surge in heat related admissions is a quick reminder now of our top story. u. s. president joe biden has raised the issue all of the matter of journalist jamal cushion g, with saudi arabia as a crown prince mohammed bin selma, by the news in saudi arabia trying to main relations. i the tensions oft attentions over the kingston kingdoms, human rights record your up to date here on the w business. news is up next. don't go with every journey is full of surprises. we've gone all out to give you some tips with. i'm in your northern

most count please. ah, 3 times along. but still very much alive. detail you travel, you'll guy to the special with recognizes where exactly was fun and i have learned a lot our culture history. all their d. w. travel extremely worth a visit. 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 surround for botswana, now sanctioned on russia's gem trade could give the industry an even greater boost . i'm christy. pleasant. this is. deed of your business. while 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 up. the crisis can also be an opportunity as these 2 men. no, ma'am, had been said, mind the saudi crown prince and the conference 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 other forces that may be the last opportunity for these countries to profit economically one more time and earn high

revenues with oil production in the face of a global trend towards renewable energy. actin argales fuckin with a good diva lately 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 kashodi, in which been said mon was allegedly directly involved only russia's president boot and warmed up to him and been said, man will not want to jeopardize that relationship. definitely there is kind of a personal solidarity moment between them. there is definitely a policy and react to day 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 and the saudi royal family kept mostly friendly relations with the u. s. 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. are saudi and abu dhabi leaders willing to budge on oil out, but for biden, for now, 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 margaret reaction to the significant visit, i wanna bring in my buddy young quarter 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 grid to 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, he can't force the a private companies yours to do so,

but that's at least as intention to try everything possible. if you look at saudi arabia, that's a bit a different the crown prince, theoretically, you could alter to just pump mer oil more oil. if that's a, technically a possible. there's a lot of a guessing if a saudi arabia could increase production even if they wanted to. so no real commitment, but at least some intention to increase production on both ends. so the oil price actually did increase a bit and over the friday a session of for the week of oil is down by about 7 percent. but that's not because of the meeting, but because of global recession for years. okay, and what we know that our oil and energy is obviously a major factor playing into the u. s. and the global economy right now. we also saw 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 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 stopped 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 start. thanks for that. yes, i will check in with you on monday, china has reported weaker than expected growth, adding to 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 the aging, trying to 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 cobit 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 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 of suffering from semi 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 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, an increase global inflation. that can also increase ad, 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, theft of green and farm equipment, and the effect of lockheed black c ports amount to using food as a weapon. of war those most directly impacted are the poorest

households and the poorest countries. jaelyn 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. are correspondent adrian creased. 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 leong 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. so in the tammy, i police a mixer,

a ladies on it and they me view the dame and nigger. they're very thin, live, 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 daneen 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 weitel 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's discovered vast diamond deposits in less than 20 years. it 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 the richest diamond sir my and by value in the world. and basically the we are the big bono for was honestly put him in pending demand, they could still increase the 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 f 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 good of boy doesn't believe they should. they

should take advantage of the cases in iraq. the when you grade is very, it's very painful. i watch a 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. first that not, these are the best, the down ones. those are now blended on one's 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 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. with a joy ride through fascinating worlds. into uncharted deb this our guides know their way around with

a strictly scientific trip to some pretty wacky places. curiosity is required to borrow today. next on d, w, we love euro, we love diversity and anything unusual? no mountain is too high, and no road is too long. in search of the extraordinary we are the specialists of the lifestyle europe, your ro, max. in 60 minutes on d, w ah, did go,

mike speaking, how can this passionate hatred of a people be explained? a gold hon go? a history of anti semitism is a history of stigmatization and exclusion of religious and political power struggles. it's a history of slender, of hatred and violence even 77 years after the holocaust hatred towards jews is still pervasive. history that he semitism this week on d. w. ah ah, ah. july 20th march the 200 anniversary of the birth of gregor mendel who you may ask. ah, do you know, getting amended was no idea. it rings about no.