stains would be tight, the same, much face as men across all 3 variations of his sport. india is the 2nd cricketing nation to adopt such policy following new zealand historic announcement earlier this year. as it you're up to date, i'll have more world news at the top of the hour. you can always get more course on the www dot com on the w app. and next at stephen pathway, has your business updates have a good day. ah ah, i mean not everything you enjoy eating at home with your family,

was harvested by people more being exploited if than i think we're pretty in the green revolution is absolutely necessary. europe revealed the future thing, determine now how documentary theories will show you how people, companies and countries are we thinking everything that's making later changes 0 revealed starts november 3rd on d, w a . ah, kenny european central bank tackle the continents high inflation without hurting economies already in a downturn. we'll look at today's meeting and europe's slide toward recession. also on our show will visit a pawn shop, and many customers are even bringing their rolex watches to make ends meet.

and the new report by the international energy agency predicts that fossil fuel emissions will peak globally in 2025 as consumers of li, higher prices. i'm see from beardsley. welcome to our show. can europe central bank help cool the continents galloping inflation without cooling its economies even further? the key question is, policy makers me today in frankfort. a boring rates are still quite low in the 1000 nation euro's own. and they've only just started rising. and look at this in july for the 1st time after 11 years, the central bank raised interest rates by 50 basis points in september. the high command at to 75 basis points are the same figure is expected from today's e. c. b meeting by comparison, the fed has already raised interest rates by 75 basis points for 3 consecutive time since last june. right, maria merits us is deputy director of the brutal institute. she joins me now for

more rigor to have you on the show is always the head of the u. s. federal pow has made it clear that he's willing to raise rates and risk recession to crush inflation. he said, now here in the, in the, you, we know that recession is more than likely around the corner. isn't it even more dangerous here, raising rates as we expect the e. c, b to do? i think that's probably right, sir, simply because of the nature of inflation in there in the u. actually in the eurozone is very different. and to the nature of our, of inflation in the us here, inflation is very much driven steadily at the beginning. i buy energy prices and i would have been an important to identify because this is what determines what they should be can do if you're going to raise interest rates without lic, resolving the for vanity prices are you doing is you're affecting their real economy. and without necessarily managing inflation, so it is dangerous. how can the resolve the issue of energy prices as it only been

through the war, or will we see them settled down over time? and that actually essentially not just for inflation and energy prices. the resolution of the war quickly is absolutely essential. that is going to ease a little bit of a show of the energy prices. and then it is a matter of the transition how quickly we can transition into meeting energy demands, stabilizing in a new equilibrium. and of course, and move into the green transition. how worried should we be? how worried should we be about rate hikes for these weaker economies in the euro? so this is always this needle that the easy be, has a threat. is that really a concern? i think it is there any effect isn't just that the small countries actually, you really see germany would say no census of the word is the changing of the year of the euro economy. they are technically recession now. and this inevitably, that this will continue for some time or till energy demand stabilizes into a new equilibrium level. so i think it is it the, the energy at the is a rate hikes that we are expected to see from these. we today will affect countries

very differently simply because they are the very different way in terms of managing the fallout from the war. so we will see a differentiated impact her off of the, of the rate hikes, but in any case, it will not be anywhere near the rate hikes of we have seen in the us precisely because the u. s. is in a very different position when it comes to inflation, orient ameritas with a bravo, etc. thank you very much. o energy costs are rising across europe, including here in germany. some households and businesses can't afford those prices and are turning to an age old solution for short term high interest loans. the pawnshop. the customers of the shopping to his board have fallen on hard times. there's a video game console in the box done from out of the owner gives the customer a receipt. she has just given the consoling on as a collateral for that she gets a 100 year alone for 3 months with the monthly interest of 4 percent businesses up

at michael, my earnings bone shop due to the skyrocketing cost of leaving his customers, need more money than they earn, claim he cut. what before the war last booter cost one year 39 cents. now it's up to one year or $99.00. sometimes the coffee went from 3 year or $62.00 for years. everything cost more. all once alone has been granted, the pon item goes on a chef video games rare model trains, anything with some resale value. if the customer doesn't pay back the loan on time, the pawnshop is entitled to resell the collateral lives the normal and many regular fold. i can't make ends meet with her salary a group. so now a lot of people come to her pawnshop who didn't need to do that in the past. the pawnshop is one of several branches, all located in the rural area in western germany. it's noon and the pawn shop is

full. mos customers pay off their loan on time and get their items back. frolics, watches are particularly valued up to 18000 years or more. one of them belongs to the boss of a manufacturing company. by a 100 years of problems for many trade, their claims don't pay by they still have to pay their bills and rent taxes salaries in at the end of the money they bring in their expensive watches in the toilet. one of these men, once upon a tv set, so he can pay his gas bill. we used to pay $150.00 euros. now it's $250.00. we feel that he gets 100 years ago enough for now. at the end of the week, he expects to government's gas allowance payment for the next month. then he hopes

he'll be able to get his to be back. let's take a look now at some of the other global business stories making headlines. boeing incurred a surprising loss of $3300000000.00 in the 3rd quarter. aircraft maker blaming, hire manufacturing and supply chain costs for losses in government programs. but it's commercial plane business is improving as air travel takes off and airlines buy new passenger jets. turman car maker, mercedes benz says it's withdrawing from the russian market. it's selling shares and it's industrial and financial services arm to a local investor. the company in the local production and export vehicles after russia's invasion of ukraine in february. russia's industry and trade ministry said car dealer after comp upto dom would buy the stakes. south africa as pledge to take over part of s. com's multi 1000000000 dollar debt to help the utility company stay afloat and ease the energy crunch. the government has already

poured large sums into as calm but south africa has suffered from sweeping power outages due to the company's aging and poorly maintained infrastructure. the war in ukraine is speeding up a global departure from fossil fuel use, any adoption of more renewables. that's according to a new report by the international energy agency. the paris based organization says global emissions are set to peak by 2025, giving way to cleaner sources, including renewables. rising prices for oil, gas, and coal are behind the trend. di e. a said the war was needing to quote, profound and long lasting changes in energy markets. party tempered is an energy economist with a german institute for economic research in berlin. she joins me for more. claudia, this report suggest a turning point, but it's not all good news to limit climate change to one and a half degrees. by the end of the century, there would have to be a doubling of investment in renewables by 2030 to $4.00 trillion dollars. is that

feasible based on what we know now? i think it will be feasible if the financial markets are ready for it and we need here there. right? framework said that the money is suspended for the right direction into the renewables and the transition and set off of fossil fuel infrastructure. unfortunately, we see also bad things going on on the global market because a lot of investment is now spent also in fossil fuel infrastructure. are drilling said to fossil fuels, which is not in line what we need and hopefully this will change. you touch on this government doing enough that question. we also look at the build up of renewables itself, not just investments in fossil fuels. if i look at wind, for example, here in germany, they're great aspirations for building out wind. at the same time that build out actually drags along, we don't see the same kinds of approvals, for example, what is the government going to have to do to, to push through

a lot of these projects. yeah, on the one hand indeed we need the right framework for it and the money that the spend in order to increase the share for renewables and germany. for example, we need enough land, which is also provided to install the wind males and also provide the right data framework for it and to reduce the barriers which are still existing. and i think that's true also for the rest of the world of other european countries to provide the right frameworks that the investment into renewables is coming instead of fossil investments. we need a lot of renewable s investment the i e. a has also said in the past, the more country should consider nuclear as a clean energy option. should that also not be an option for germany? now i think nuclear, especially new nuclear power plants, i so costly that is not really an option. look at the new installations they need the decade to be installed. they need a lot of investments and we don't have the time for it. we need to be ready by 2030

and renewables of fast. that cheap, and we can install them all over the globe, and that's the answer to it. nucleus certainly is not. we see that in france. how the problems occur. if, if the, our power plants are not maintain it correctly and the costs are too high. so renewable this yansa not nuclear. this idea that we can see a peak, an emissions by 2025. could this take some of the pressure off governments when it comes to the kind of activism we've seen when it comes to kind of pressure to speed up the process or does that urgency still there from what you see. i see an urgency coming also because of the war or the fossil energy war we are in and the investments are coming into renewables and this is speed up process here, which is good. on the other hand, we also see investments into the bad things that is fossil fuel. so i think the is right by the peak, that they assume. but what we really need now is to have investments ready for renewables. and the governments which provide the right firmware frameworks for it

. all right, quality comfort with the german institute for economic research and berlin. thank you. thank you. and finally, the german cabinet has approved the key points of a plan to partially legalize cannabis, saying that a regulated market would be safer than the black market. germans would be allowed to possess up to 30 grams of marijuana. private cultivation would be permitted to a limited extent, and adults could buy in license shops and pharmacies. but germany's health minister says the changes must square with e u law before legislation is put forward. putting any concrete measures on an unclear timeline. all right, his reminder, the top business story we're following for you, the european central bank is expected to raise interest rates by 3 quarters of a point. it's an effort to curve inflation even further, but it will put even more pressure on an already strange euro's own economy.

all right, that's it for our show will be back later with more. in the meantime, you can find out more about these and other stories online. d, w dot com slash business are also on youtube or the dw news channel. i'm seeing busy, invalid next roger. ego, india. kimberly in, whoa. in ongoing decline in demand has reduced the number of sheep hairs causing the ecosystem to suffer. now some local organizations are trying to

rejuvenate the want trade, which would revive traditional craftsmanship and benefit the environment. eco, a dw, she's got a thought say what grade level with every creature as a police need to be to printer in the jungle and infected.