also on our show, the leaders of russia and india meet on the side lines of a summit and it was pakistan. what could it mean for the growing energy trade between the 2 nations and brazil's 2 year old digital payment system picks has seen wide adoption. and some surprising uses along welcome to the show. i'm seeing beardsley. berlin has put the germans subsidiary of russian oil giant ross enough to under trusteeship. that means a federal regulator is taking control of one of the nation's critical refineries in the eastern town of sped, which is served by the russian oil pipeline trooper. the german government said growing concerns from banks insures and suppliers about the refineries future, forced it to act. now berlin is bowing to find non russian sources of oil for the refinery. that announcement about raw snuffed part of a larger bouncing act in berlin as it tries to preserve critical energy infrastructure while disconnecting it from the russian supply that keeps it going.

another example is the natural gas company uniform. it was the largest importer of russian gas, brazil struggling as russian deliveries fall away. now the german government is considering stronger measures to keep it afloat. germany's largest importer of russian gas uniform is in trouble. no, but berlin is determined to guarantee the resource companies survival as winter moves in. and the energy crisis deepens. germany needs foreign gas supplies and without them, nothing works. that's the dial warning from the german energy regulator, bundis net eigen tour last month. when it is a gas to chris, a good chick on it. just 2 days before a planned maintenance shut down of the nod stream. one gas pipeline. in the 1st half of the year, russian supply cuts caused unit more than 12000000000 euros in losses. uniform burned through its cash reserves sourcing gas on the spot market. the company has already soaked up a government rescue package worth close to 20000000000 euros. but now the diesel

off based gas importer needs more help. in july berlin offered a rescue package which included buying a 30 percent stake. i'm diving by unit. now chancellor will have sholtes us. government is poised to increase at stake above 50 percent, giving the government a controlling interest. full nationalization is also under discussion, but for that to happen, uniform finished parent company for t. m. majority owned by the finished government would have to give its approval. finland recently announced its own multi 1000000000 euro energy sector, bailout b. my gun and soccer. you're done last month. you know, at the recent strong price fluctuations in the electricity derivatives market mean the government has to take quick measures to insure market stability while yahoo and on welt on it, while the owner was de la italy, it the government's economic policy. ministerial committee has advocated for a 10000000 euro stability package for companies producing electricity and finland

to cover their acute liquidity needs. been got mixed. but finland has made it clear they will not be putting up bailout money for uniform. for now, fortune is still the majority shareholder in the energy supplier. so it appears that unified only chance of survival could be the german government, acquiring a controlling state. the leaders of russia and india vladimir prudent and arrange ramadi are scheduled to meet today on the sidelines of a summit and it was becky stan, it's a conversation that's likely to touch on the growing trade between the 2 countries . india has turned into one of russia's biggest customers for oil over the past 6 months. it began the year importing a paltry, $30000.00 barrels per day of crude from russia. but by early august, it was bringing an 850000 barrels a day, taking benefit of deep discounts due to g 7 sanctions on russia. a trade has also grown beyond energy products,

with turnover between the 2 nations reaching more than $11000000000.00. by my car, leave my colleague char to kate joins me for more from dela deli charo. what can both sides really hope to get out of this conversation? we saw a lot about putin and she yesterday now put in a moody, we're just going well, stevens or for russia. it's very clear that it wants to show that in spite of all the western sanctions that is not entirely isolated in the world and many countries of the world and including a dominant powers in the region like india and china are still backing it for india . although a lot of hype has been made about a whole prime minister movie will be directing their, their, with vladimir putin and she's in pain. but her, for india. there are several reasons. and perhaps the most critical ones have been highlighted by the prime minister himself. when he spoke today at the summit, and he, he beached essentially and as a manufacturing hub,

he said that we are turning into jaga into a manufacturing have. and he mentioned about the $7.00 drawer trade, which is projected for decision making. india is the fastest growing economy among all the major economies in the world. he projected how india has so many startups. now, a lot of them have become unicorns now. so essentially, east it is to bitch india is a manufacturing hub as a dominant player in this region, of course, or the rivalry with china is always on india's minds whenever regional summers are concerned. and there is a strategic element also to windows participation of the summit. but as far as from what we can derives from what the prime minister has said at the summit. it has been about pitching india as a manufacturing hub, steam or one of the topics that's already come up at this summit is fertilizer prices soaring in recent months because of the war. and put in says that he's hindered from exporting more fertilizers due to the e u that you, of course, says that's not the case. how important is that issue for india?

but it's hugely important, steven, on fertilizers, india is hugely import dependent. and this year because of the high prices in the international market, if something is not done, then the entire subsidy bill for, for, for delays as the domestic sub submit subsidies bill is likely to dublin urines, a huge subsidized fertilizer program also for its farmers. so there is a huge implication for that program, and for this reason, india has already been buying fertilizer at cheaper rate from russia. now russia has become india as largest supplier of imported fertilizers. and now what india is looking at is a long term at least a 3 year import deal from russia, so that even the long term future of the fertilizer bro subsidy program in india is secured. and now, a lot of figures have not been revealed by either governments or players involved, but there are reports to suggest that russia has been offering for eliza at at least 10 percent of the prices in the international market, which is a huge,

huge discount. and it makes a big difference to india or to fertilize a bill. so this is something that india is looking at. it's at the top of and as mine remains to be seen, whether this will work out or not, steven oil, of course, another big issue. we just saw that chart showing how vastly india has increased its oil imports from russia. now there's more pressure for india to join in on the so called oil price cap, at which it theory would make prices even cheaper. what's deli stance on this? well stephen dell is down so far has been just as it was in her arm and all the western pressure on route as far as the sanctions were concerned. india has not committed itself to the old price gap. it has not spoken its mine out at her own. on the contrary, it has given no indication that it might not be in favor of this at the recent her estate nomic forum india, sir said that if it supported russia are here,

a representative in the government who are in charge of the energy department. they've been saying that her as far as the, for as far as the oil cap is concerned, the details are not out or not yet out. and india needs to our study. the proposal in there needs to go through. so basically, dilly dallying the announcement of her mom, where does india stand on this issue? but indications are that in there is not really in favor of a price cap. steven or a charo cartucker in deli, thank you very much. china is also part of that summit in was pakistan and it had some positive news on the economic front friday retail sales and higher industrial production. both coming in higher for august and retail sales grew by 5.4 percent for the month, lucid by higher car sales. industrial production also up beating analysts expectations. the national bureau of statistics said recent stimulus measures from

beijing have helped but warn the recovery was fragile, and the global conditions remain complicated. let's go down to some of our other global business stories, making headlines. 0 zone inflation has reached a record high prices in august increasing 9 point one percent compared to a year earlier. that's according to the latest figures. consumers and businesses have been had hardest buy cost for energy and groceries. and that's raising pressure on the european central bank. the international monetary font expects a stronger economic downturn worldwide in the 3rd quarter. it points to continuing lockdown in china, supply chain disruptions and inflation. the i m f expect many countries was slipping through recession next year. world bank issued a similar warning, adding the threat of a global recession is rising. 2 years ago, brazil central bank announced the launch of a free electronic payment system called picks. and many brazilian scratch their heads. they never heard of the system. to day daily picks,

transfers exceed the number of credit card and debit card transactions. brazilians use it to pay for food, pay for rent, and even help the poor shoe al claudina desousa is on housed and earned his living on the streets of sao paolo, on many occasions, he is forced to ask for money from passers by and drivers. he's been receiving less and less cash, and more transfers via picks it make him would received it. it's very easy for every one. even a homeless person can use picks because it's not something difficult to get. i want going to pick in light of his purpose. i think the vocal there problem of the electronic payment method was launched in november 2020 by the central bank and has become one of the most popular means of payment in brazil. picks accounts for one 5th of electronic transfers. users highlight it's immediacy. nautica

was epa when you point the cellphone camera like this, all my data appears, my name, my account, everything, and it's fast in a few seconds. it can scan everything automatically. and that said, you just have to type in the amount chosen as well. digital valo for now, it is used in transactions of relatively small amounts, such as donations or for a snack, which used to be done in cash. this system is particularly advantageous for merchants, as its fees are much lower than those of other e payment methods. it also saves them the risks involved in handling large amounts of cash. dummy empathy, money can get lost or stolen. picks is a lot easier because everything is more secure. it has excess codes. where's blankets nowadays work with a contactless payment system? and a lot of people get their cots stolen orders, they will boy,

but the system is not immune to security threats. so called express kidnappings have increased by 40 percent. people have been forced to transfer money for their release. so the central bank has put a $200.00 transfer limit between 8 pm and 6 am. what are, that's it for me and the dw business team, you can find a more online t w dot com slash business for us on youtube or the dw news channel. senior zebulon to watch ah ah ah

o eco in. they seek leslie poison at the festival of good measure. sure to see hundreds of thousands of idols are sunk into the water. but the toxic colors kill fish more and more families and now a friendly, idle, green and a religious tradition, and known by india. in 30 minutes on d. w with respect to the world over d, w on facebook and twitter up to date and in touch. follow us.

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ready to me journey this week. do you w ah, this is the w news life from berlin, ukrainian authority say they found mass graves outside the city of india, which was liberated from russian forces 6 days ago. president, blood of mesa, lensky says bratia must be held responsible for leaving behind a trail of death. dw visits the hotel in kenya, where britain's.