greece with russia as president putin ones are further reductions in flows through the crucial north stream. one gas pipeline, adding to german worries ahead of thursday's schedule restart. but as borrowers refused to pay for unfinished homes to discuss china's mortgage boycott that correspond with this data, we have business on robots in berlin. welcome to the program. ranking lawmakers have chosen 6 time prime minister renelle vick grimacing as president to succeed, the ousted leader. he fled the country. mm. it turmoil in the island nation, grimacing. who was until now also finance minister has been leading crucial talks on an economic bailout package with the international monetary fund. after his victory, he told sir lang because parliament the country needed a new strategy to put itself out of its financial crisis. i've been getting more on this from our correspondent charge card to k. i voted out the vicar,

missing his election was unlikely to go down. well with this ranking public. that's right. drama, i mean all indications point out towards that fact. it says because the protestors who have been out on the streets of the country for the last several weeks, they've made it clear that running becoming is not the man that they want in power earlier. the chance will for a go go for good or bad. i just like to to go those chance have now been replaced by good run illegal. so the british does have made their mind very clear that they do not like when you become a save. the for them running become a thing here, represents a continuation of the order that they are so upset with that they're so angry with, and they want it that order to go entirely. so at the end, there are 2 boys from columbia that protests have already started. so it remains to be seen how run it manages to retain his job and do a good job at it. ronald become a singer, was already the vanguard of tackling sri lankan economic problems. so what does his

election mean for the economic crisis therapies are likely to be any change in approach. well unlikely, rob, because the iranian has already or lead out a roadmap. he give a speech to the bottom and early on when he became a prime minister and then eventually he became acting president as well. and this message is resuming the talks with i am a on a be lot back is that the dogs have been held off for quite some white a few weeks now out on it all the parliament that the i m f has agreed broadly to what his government has proposed and now what job they want to present to the image is, is a debt restructuring plan. that's something which is most critical to fill and guide is critical to i'm of also in that and it was the asians now if, if that the structure debt restructuring plan is agreed upon by the i m f. then a dollar conference, a scheduled to be organized by the government led by now in which

our shillinger is looking upon. countries like family countries like india, like china and japan. these are the countries that run in named for providing all the financial help that sri lanka needs. and this is going to be a long process of at least about 40 years as outline by running himself rob. and they say election doesn't look like he's going to lay any of the anger that sin shall anchor at the moment. but is there any hope for sir lankin the economic problems there are on the way out? well, the economic problems are getting bigger and bigger by the day robber, the inflation is likely to hit around 60 percent by the end of this year. so inflation coupled with the food crisis as well as a fuel crisis. these are some of the biggest problems at the country is facing right now. there's not enough our fuel left for an uninterrupted power supply.

they are rolling blackouts across the country. people are spending days that federal stations for, for, for raw fuel, several emergency services, even emergency services have been shut across the country for lack of fuel food is again, a major challenge. so tackling all of these things is going to be a big problem. a big challenge, the roadmap, run it has already presented, but it remains to be seen whether he's accepted by the public because that would be the 1st precondition to the beginning of the rollout of his roadmap. rob ok, correspondent in delhi, ciocca. ok, thank you very much. for keeping us updated next, russian president vladimir putin as want of further cuts. the gas supplies to europe, exports down the key note stream one pipeline to germany are due to resume on

thursday following maintenance work, but russian state energy for gas from was already limiting, flows, blaming repair work being carried out on one of the pipelines turbines. a claim met with skepticism in the west. president putin has now indicated issues with another turbine could mean further cuts 2 deliveries speaking during a trip to iran, he said the you was to blame for its own gas supply problems. european nations shut down one route after another, putting the sanctions on the gas pumping station gas problem is ready to pump as much as needed. they shut down everything themselves. ross problem has always full food, full filling, and he's going to hope all is commitments. yes, president vladimir putin there now some of the other global business stories making news, japanese biggest gas import, the unit could be allowed to pass on some rising costs to its customers as part of

a possible government rescue package. the company is seeing financial problems as gas prices increase and north stream one flows decreases. we've been hearing is reported to be meeting with chancellor. all i've shown on friday wednesday is the deadline for tech companies in indonesia to sign up for new licensing rules or risk being blocked. new requirement effects, things like google and matter. under the rules authorities could order platforms to take down content deemed unlawful or disturbing. netflix jazz rose in after hours trading after the company reported it lost fewer subscribers than expected during the 2nd quarter. around $970000.00 page uses left the streaming platform and q 2 and a half of what the forecast is expected. staying with tech amazon is suing people who leave fake product reviews for products sold on the platform. a major problem plaguing the e commerce giant amazon has filed

a lawsuit against the administrators behind over 10000 facebook groups, which are recently used to recruit people to bright make reviews for china now, where home buyers furious at the delayed completion of their properties, that they're already paying for have taken things into their own hands. tens of thousands of them have begun withholding payments for unfinished projects across at least 50 cities in the country. response response in china's banking regulator is urging banks to extend credit to real estate developers and support construction. the boycott has also found fears of financial contagion in china's real estate sector, which accounts for up to 30 percent of the countries g d p. and as a key driver of growth. but to discuss this further, let's cross to our correspondent in ty paid. so don't hon. so good to have you on the program at withholding mortgage payments. it's

a pretty big step. what's actually driven them to this point? the root cause of the unfinished construction projects is the high degree of leverage that is the private diversion of funds originally intended for the construction of buildings by housing developers. with the impact of coby night in pandemic on the chinese economy, banks do not give loans to the developers. funds do not flow to real estate anymore . so the developers have a big problem with their cash flow. they don't have money to finish building these properties. for many buyers have put their life time savings into these projects and have been suffering from the double pressure of mortgage and rent for a long time. now they just want to stop their loss even at the expenses of the banks credit rather than to be totally wiped out. aging has taken quite a hard line with its real estate developers, developers. but at the same time it's, it's not exactly open to, to popular activism like this. so i'm interested to know what side the chinese

government taking while the government just said that the key is to ensure that the, the delivery of buildings dressing, that it would guide financial institutions to control rates and work with the people's bank of china, housing and construction departments and local governments to prevent the collapse of these projects. however, china's financial institutions are also in the middle of the house in crisis itself and have been questioned for ears for their an inadequate supervision landing and even suspected of corruption in politics and the business as well as being affected by the high amount of bad debts playing the complex ro, all both co conspirators and victims. so it's really hard to say which side that they are taking. yeah, and the pressure on the attorneys real estate market is, is you know, there's very well documented. so where is this going to go from here?

the crisis in the real as that sector is spreading to the banking sector. as i mentioned, the total amount of non performing loans due to refusal to repay mortgage could reach 81 1000000000 euros as the communist party approaches. if twenties, national congress in autumn and as chinese president seeking pin secure his 3rd term in office, the worsening debt problem in china's real estate market could impact their country's economic and political stability. and in the process, the international community and the financial markets will also field the pan. okay, so, so i'm and i pay for us. thanks for the update. and a record breaking heat wave is sweeping north through your efforts even reached us here in berlin. now the impact on the continent is close to see. while fires, heat, waves, and drought warnings have engulfed figure a be in continent. this summer alone temperatures in many countries,

including the u. k. romania and spain search to record highs. researchers at the european commission warned that almost half of all e territory is currently at risk of drought. the hardest hit region is italy and in spain. water levels are far below the 10 year average as wildfires rage, i left her my country under fire. literally under fire, more than 20000 actors had been burn december last 3 days. more than 400 casualties. ear are being caused by this a heat wave. the 2nd heat wave in less than a mouse. the heat wave is affecting crops and agriculture the most. and rising temperatures will impact energy and water supplies as well. the report says

in southeast europe, croatia has placed water usage limitations in the history up and insular officials are advising people to use less water for our appellate. i'm on us. we appealed to our fellow citizens as well as tourist. i have to reduce their consumption of water . i believe it will be a good indicator in a few days for the water management that measures have been effective. and we will avoid the 2nd step of reducing supplies and what we track of the week work with firefighters rushing to contain flames and the cost of climate change, climbing each year. many are very the situation will verse and in the coming years, that's all for me in the business team here in berlin. ah, ah, ah, with

innovations bring it on new ideas on the conventions. what drive the economy? the engine a social program. but do they really make our lives easier? any, what our future will look like? oh, made in germany in 30 minutes on d. w. with sometimes

a seed is all you need to allow the big ideas to grow. we're bringing environmental conservation to life with learning backs like global ideas. we will show you how climate change and environmental conservation is taking shape around the world and how we can all make a difference. knowledge grows through sharing, download it now for free. sometimes the big jump right now that you our tv highlights for shipping book every week. not come up with a man with the memories of a woman. oh and from syria is born in a female body or forced into marriage. great to escape will be the journey of his life far from home. ali can finally become the person he's always wanted to be. i won't be spared badly. oh,

in that re credit that will go through with it. i was born in berlin. starts july 22nd on d w. ah, this is d, w is life from berlin. europe's looming energy crisis member states a told to use less fuel to a versus squeeze this winter as brussels wards and rushes using gas supplies as a weapons. also on the program.