and turkeys official inflation figure edges of again, it's now over 80 percent. the how reliable is that number? 50 to be a business. i'm robot in berlin. welcome to the fred european gas prices again. reach name, record highs on monday. you countries are digesting the implications of russia's decision to switch off flows down the node stream one pipeline to germany announced late on friday. european stocks dropped to the start of the week and the euro has been trading at his lowest value against the dollar for 2 decades. chimney's chancellor schultz insists his country can make it through the winter without russian gas. but your will need to reorganize its energy supplies, muscles per capes, does for you to smooth of more on their sled? speak to mic dm a maria to maps. this is deputy director of the brussels based economic think tank brew go. thanks a lot for joining us. on t w business, this shut off of the no stream one pipeline. we knew it was gonna be shut off. they

said it was just gonna be for 3 days and then it turned out it's indefinite. but it's not a surprise. is it a no, not at all. it's not a surprise that the, the only thing is not so long as we are not making a decision by we, i mean, the european union, we suffer unpredictable consequences at the timing were put in decides and to inflate their pain. and so either we have to find a way of change and controlling the message here for as long as we don't decides and put in then it is capable of actually changing and turning the top off whenever lights so. so you're suggesting that it should be a decision taken by the european union to stop importing russian gas? absolutely, absolutely. but what would the impacts of that be? i mean, there's a reason why that decision hasn't happened so far. it's that the unique russian gusto. absolutely. but one way or the other we're going to have to do without it, and we see it happen. the winds of president bush and what,

what do you mean right now is to find a way of reducing consumption of, of all energy because all energy will need to be reduced and needs to happen in a way that is control coordinated and co organized. this is why you can't eat it will be working for the september and october in the, in the falling meetings that they have different would be that we will control that we will manage that for the moment. we are simply reacting and as we are reacting, so is the market and we're seeing that the market price is jumping unexpectedly in a way that is much more applies and had to be at our own decision. and of course, the euro itself follows because it reflects the market sentiment. so the think that europe and leaders are doing enough to try and prepare for winter without rushing gas. i mean, chances, michelle seems think that the gemini isn't a good position to get through or at least to scrape through. c indeed, if that is the case, then we should take the decision much faster than this,

and there will, there will not be any solution without a reduction of consumption. the question is by whom i'd want base. until when we know that next winter is going to be a difficult winter, because we have to de campos from russian energy, oil will happen by the end of the year and gas. well, it probably will happen sooner than that, but it will not happen, but from us it will happen. or when the russians decide to do it, that is not good for the prices because it makes it much more volatile. i had the european union come or decisively and said we are cutting it off immediately or at the very dictum, all time path. then all market will have organize themselves accordingly. and therefore the prize will be a lot more controlled. the supplies, what it is, we cannot do anything about that. but what we can do is control the timetable of it . can we read anything into putin's approach here, of cutting off supplies to europe in terms of what the impacts of the sanctions have actually been for russia's economy? is it worse than the countries letting on?

well, i think the impact of the sanctions given the decisions that we've taken on the russian economy will only be in the medium term or the long term. let's be clear about this. you will be catastrophic for the russian economy by we're not going to see it this time, this sir, and winter, probably for another 6 months or so. simply because we're still relying on energy on ration energy. and that of course, puts the price up. i'm an e to only benefits of the revenues for the russian economy. and the so that is the bit that i think we still need to fix it. we have to cut it off, bite the bullet, and forbids, and the russian economy for benefiting from their future incremental prices we've seen on, on energy. this is the issue that needs to be resolved, the supply side. we have to cut it, but also let's be clear that the russian economy is kind of, he begun enormous heads, but with some delay. ok, maria demetrius from brewer. thank you very much for joining us here and it of a business now,

official data from turkey puts our noun inflation at over 80 percent for august us more than half a percentage point higher than the previous month, although some economists in the country and says the real rate is much higher, while households battle extreme price increases. turkish industry is also suffering . it's an exasperating cycle, as prices for rent, electricity, and consumer goods rise, businesses are raising prices. as a result, customers have less money left for every day purchases. the textiles sector used to be a booming industry and turkey. now that's over. oh, we can't buy anything any more. everything's too expensive. things that used to cost $200.00 lira about 13 euros a month ago. now cost $400.00 lira. we're just walking around here, but we don't buy anything. many shops are on the verge of bankruptcy, even smaller producers. the weaker turkish lira means raw materials that get imported are becoming more and more expensive. hudson, you know,

the price of everything from needles to threat have gone through the roof and we don't produce any of them, had neither the needles nor the thread in our own country. unfortunately, this is our biggest problem the turkish government is trying to support the leer as exchange rate, but president air to one is an avowed enemy of high interest rates. and that's contributing to soaring inflation rates. any tax is one of the biggest firms of its kind in turkey. here they die, and so fabric themselves. looking to compete with asian textile producers, this c e o says his company can do the job even while paying his employees well above the minimum wage. years all on your home, there was a 50 percent increase in the minimum wage, but the cost of living has doubled. that wage increase doesn't compensate for inflation. it's a difficult time and i don't know how long it will last long. florida knowles nicholas irving, his company could survive the crisis,

while many other smaller companies won't make it, leaving many turks without work and frustrated. for more on that, let spring in d to be a business reporter, acura mckee. g, thanks for being in the cedar with us, 80 percent inflation. now that's the least the official figure, isn't it? what's the impact is that having to household say, well that's official figure which is horrible enough. but the independent inflation monitoring group is suggesting that there's actually 181 percent which is which is even more horrible. it becomes a seizure it's, it's so much of a different way of looking at a more up to date, more realistic basket. as i understand it and the figure they come up with reflect the are the lives of wage laborers. and when you look at the supermarket, for example, in turkey, the food prices are through the roof and it's growing increasing almost every week . so, but 80 percent is already high enough to place turkey to the, to the, to,

to the list of highest inflation countries in the world, the 7th. so this is quite difficult. it's quite difficult to live in turkey right now, because when you look at the official inflation figure, you will see that the highest increases in transportation and higher education costs. so it's really difficult to be a student. it's difficult to be moving around in turkey and it's definitely difficult to be of a laborer. i got elections coming up next year. haven't a social life is so much harder for so many people and inflation persists up until 2023. is that going to have an impact on the outcome of that of action? well, we will see about that, but what i can say is that i do on government does not seem to be changing course anywhere near anywhere soon. so, but for that, we will need to see what is the concrete options from the opposition block,

what they say, what concrete plaza programs they are offering? we have seen nothing yet basically. and when we look at each of the government, they say everything is going on course and we will not sacrifice investment and production just for the sake of lowering inflation. so it's going to be all right, very soon we just have to go through a dark time. but when you look at turkish people, they are suffering a lot now, and i don't think they will forget it any time soon before the election. mckee, cheap from t to we business. thank you very much to bring us that update. now let's take a look at some of the other global business stories, making the news cfo of us retail chain bed bath and beyond. gustavo, our now has fallen to his desk from a skyscraper in new york city. incident comes just days after the company said it was closing several stores and after our now was targeted in an investigation on a pump and dump stock trading scheme. jackie morgan plans to hire

a team of retail bankers in germany is the biggest us lender, profess to expand his international consume of business. last year j. p. morgan entered the british market with a digital only retail offering. the bank has since signaled. it's aimed to expand this to other countries. and 6 months after a government mandate to work remote to make remote work available to employees where possible, the option remains popular in germany 24.5 percent of employees still work from homes as a new survey with experts saying it seems to be a long term work model. now, lithium is vital to much of the technology that we use every day, including us smartphones, for example. that's why mexico is hoping to make the most of his as yet untouched deposits. the government is setting up a new state company to oversee the mining of lithia. beneath these hills and

northern mexico lay large deposits of lithium. so far the deposits have not been mind dot set to change. lithium as an essential raw material for the production of rechargeable batteries. in electric cars, for example, it's in major demand worldwide. the mexican government wants to allow commercial mining. this means awarding contracts to private investors said mexico's president andreas manuel lopez abra door who launched the plan in mexico city. no gasoline, but it would not be enough for us if the exploitation of the lithium remained a public task. it requires a lot of investments young, but that he left that is the government recently set up the state own company lydia party, mexico, which aims to organize and control the mining of lithium to meet surging global demand. the raw material is valuable without lithium and energy revolution moving away from fossil fuels, untoward sustainable forms of transport is not feasible. that's why the price of

lithium keeps climbing to record highs. but the environmental price of mining is also high. say critics. among other things, mining is very water intensive, and i reminded the top business story, we're following foil this. our european gas prices again reached near record highs on monday, ear countries digesting the implications of russia's decision to switch off flows down. no, no, to stream want pipeline to germany indefinitely. vessel from the business. same handling from already had i was a d t v dot com slash business to next time ticket. ah, [000:00:00;00]

with ah. oh, is it okay to simply make music in times with an encounter with ukrainian store? conductor of san alina, celebrated by audiences in by voice books on only need on balancing part, and war a. d. w. good bye neutrality. hello nato. finland wants to join the western military

alliance. the association of reservists is in favor of the move, conscientious objectors, reject it. what are their reasons? and how does the rest of the population view the end of neutrality? close up? in 75 minutes on d, w. making the headlines and what's behind them. dw news africa. they show that the issues have been the continent. life is slowly getting back to normal here on the streets to give you enough reports on the inside. our cars funds is on the ground reporting from across the continent. all the trends doesn't matter to you. t w news africa every friday on d. w a

is a journey across the entire continent with a variety of cod, so would and this so all the focus, the movers shake is visionaries and made to embody the meaning of modern africa. on d w with ah, this is dw news live from berlin. germany asks israel for forgiveness for it's handling of the 1972 unit olympics massacre. president frank vall to shine meyer acknowledges germany's responsibility for failing to protect is railey athletes at