the european union, but hungry is especially hard hit, and it's not because of the war. and as tension rise over time, one us take steps to isolate its economy from china and taiwan. i've been fizzle and let's do business. a 1st shipment of ukrainian grain has set off from the port of odessa, even as the war with russia rages. it sailing under an internationally broken deal designed to release large stores of ukrainian crops to foreign markets. the ship and ships to come. being monitored from a control center in turkey along safe shipping lanes, it's hard, ukrainian grain can ease a growing global crisis. as far as hunger goes to esl is carrying 26000 tons of corn and will head 1st to turkey for inspections. then on to lebanon, ukrainian officials say unlocking ports will provide at least $1000000000.00 annually, and foreign exchange revenues for the economy. so, you know,

economist gabrielle fed, eliah joins us from vienna. how much relief will today's news bring commodity markets? do you think? well, there's certainly some relief you know, prices have already anticipated the fact that the great deal is in place and the have started to come down already weeks ago. so what we now see is that the deal holds. there is the good news. when do you think real relief will come to the market? you know, the high prices of all sorts of commodities. we. corn soybeans, rice, also not only depends of course on the, the war new crane. they depend on weather conditions around the cold on the harvest, that is going to come in this full, what is doctor to come in already. and these factors are quite important as well. and so the fact that ukrainian or russian commodities are now more easily going

on to the old markets is good, but it will remain high. and the shortages are on the, on not only cost by what they were like, let the conditions apart from those 2 factors. what would you say? would you say more? is driving up prices right now, or is this to a certain degree post pandemic in place in the way, seeing in so many parts of the world? so i think the volatility is certainly due to the or that we have seen or divorced oxygen crane that is true for a lot of food staples as well. this reflects, of course, the recovery of the world economy after the crisis. this has been up for price is now that you see the u. s. b in recession, the chairman, you close to the china slowing down. this will probably reduce the amount for commodities and will bring down some of that extra price growth that the recovery

after corona has generated. so i think the more important trend than the more no longer live trends is connected to that. so the current crisis will to war really brings is a fee, and then you get over as far as high inflation goes, how much longer do you think consumers will have to put up with this or what are we talking months are we talking a year? is that people will have to get ready for you normal of types. we're talking years and i think this is become quite clear now. all the data that comes in on the police and expectations shows that it leads to the next 3 years. inflation will be much higher than the 2 percent or so that central banks around the world, the target and even to the 5 years window course, a lot of uncertainty there, but even all that long though,

it's expected inflation remains to percent. but of course, again, so it's true that the central banks are reacting if the growth comes down faster than many think it will, then this will also bring down inflation faster. but it's certainly so that high inflation is not something that will be, or let's say in a couple of months, going to get your take on those topics. now the less that we have to have a, my senior economist force in vienna. thank you. thank you. or people are feeling the effects of high inflation suddenly and hungry pensioners are especially hot here that the government is thought at setting prices for certain foods. otherwise, inflation would be even higher, but its businesses that are paying the price t bore cells beans from his garden at the market in cure. he's 82 years old and has

to earn extra money. he says his pension is $230.00 euros a month, and it's only getting smaller because hungry is inflation. is it a 20 year high? although i little cover i just by less when i get milk, i no longer buy for leaders at just 3 me. i don't fill up my glass any more that can happen. oh, this is how many people deal with inflation in hungary. the government is trying to help by setting prices for some goods. they must be sold at the same prices as 6 months ago. without that inflation would be 14 percent. but now producers and sellers are forced to absorb the cost. had nekisha then it's difficult because everything has become more expensive, but we're told what the price has to be that are all e u countries are suffering from the effects of inflation. but hungary, more than most, a big, big reason of the high inflation environment in hungary. is the war itself and the

sanctions are which have been imposed by the european union. but hungry has been granted exemptions from sanctions. it's allowed to keep receiving cheap russian oil . experts say the real reasons for the exploding prices came before the war. part of the inflation is the government to her because the budget has spent too much or 2 years ago, and those were last year and this year in connection we did the election. there's been plenty of government spending and overpriced construction contracts that largely benefit government allies. the e u has withheld funds due to what a those deficiencies and the rule of law that keep getting bigger in response, the government is introducing new taxes for small businesses. there have been days of protests and the government has been pushing for the e. u to release those funds with before the government take surreal. convincing step. i don't think the european institutions are in a hurry to provide the money. and the more we wait,

the higher is the cost of financing the budget deficits here and get people fear that inflation will just keep on climbing even if apricots, or particularly be plentiful and cheap this year. in other business use. shares in alibaba have been falling off the u. s. authorities threatened to de list the chinese e commerce company in new york. that is, if it doesn't comply with auditing requirements, report what the announcement comes as tensions between washington and aging, grow over a range of issues including technology, human rights, anti one pilots. janelle, i look tanza have voted in favor of a strike. it could mean further disruptions during the busy summer travel season. the punch unit is demanding a 5 and a half percent pay rise. strikes and staff shortages have already forced carriers to cancel thousands of flights. and course ours don't cues at major a port

time when he's tech. jive t s m c warns an invasion of the island would render its factory an operable, devastating global supply tensions arising ahead of a potential visit to taiwan by you waste house speaker nancy pelosi and the growing chip shortage continues. last week, taiwan said it's key position in making semiconductors won't be shaken in response to the u. s. passing a law to subsidize its domestic semiconductor industry in an effort. it says to compete globally, europe wants to ramp up production. germany has been trying to clench a deal for a plant from ts emc, the biggest player, the companies factories in taiwan are running it full capacity to alleviate the shortages. over to our studio in taipei where exactly is standing by ear, in germany and in europe. some politicians are wanting about lack of semiconductors due to the tensions in taiwan. do people in taipei have the same concerns?

was you mention people here to have concerns about a shortage of cheap, but this is not because of the tensions in the region for sure. an attack by china will cut up things. so technology co, goods, a human capital. my lease is up the abyss. leave the less than the most people are concerned about local people. you are very used to china all attention between china and i was thinking between the us in china. we've been discuss, laura if the chief and science act passed in the us last week. there is a place to increase the amount of my close chips in the u. s. there has been tie one worried about it. keepers decent you make you say me conductors with we all know tie one place, the important role in global supply of me, conductors. it dominates the was production of semiconductors to response a to respond to the chips in the us. the tony's authorities also try to surely come

to been it's been a duction. yes. make a statement regarding the ships in the us saying that it could help pie one nice chip make us by providing them subsidies to build their manufacturing facility in the u. a. zack, can i just ask you how you see this story developing, considering the importance of the local semiconductor industry to the world and all these different changes and challenges that are facing the industry right now? yeah, it's amazing. k one has ts mc, which is the largest to make a mix while they're half of the chip in the word in the daily life. many of our high tech products have high quality chip in site. soon you have an i phone your pockets and also a laptop, a desktop. those old needs chips inside and chips us. so it's thing. so company

of electronic devices. it's like if like the brand of electronics in abilene, technology is critical to global economy goods, as well as nation know, security and the countries global compete is. and this is why tell me, what's manufacturer industry, it's very important for the word. ok. it's going to be very interesting to see how this one plays out, but the company then countries involved and the competition is going to remain fears. i'm sure, zachary, for us there inside a thank you. thank you. now, during the pandemic cape was one of the most isolated countries on earth, but a very beautiful one. and now, optimal in 2 years, new zealand has lifted its final border restrictions related to coven 19 all overseas visitors. and there are lots of the ones made. now apply for a visa, it's hope is will give a boost to the countries tourism industry, allowing people to come see new zealand spectacular scenery. it well as well,

make it easy for international students to return. that's also a big business for the islands. official say they are the expect, a slow stop. and reminder of the top business story we're following for you. this hour of a shipment of ukrainian grain has set out for the port of odessa, even as the war with russia rages, it sitting under an internationally broken deal designed to release large stores of ukrainian crops to foreign markets and head of a global food prices. i've been puzzling, nice doing business with with

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yeah, a lot. this kids to me and they go back to nikki to interact with you want to know their story, migrants verified and reliable information for my grants. india, a lead of contrasts of ambitions of the the quality 75 years ago mahatma gandhi peacefully led the country to independence full of ideas with what has remained of his vision with what's the status of human rights and social justice in what's called the world largest democracy where is india headed? this is the moment to unleash on,

on violet pass and re imagine now these teachings or elements to us. gandhi's legacy starts august 6th on b, w. ah ah, ah. this is dw news live from berlin, a huge victory for england and for women's football celebrations in a london trafalgar square to honor the lionesses who beat germany to win the european championship. we look at how he record breaking tournament has changed the game for good.