sides also in our show, india expands its pilot project for a new digital repeat. we'll hear from our correspondent in delhi. and russians who have fled to turkey might be wearing out their welcome in an economy where many are struggling walking to show, i'm seen beardsley in berlin. super aggressive, the words reportedly chosen by french president, a man wilma cron to describe a new american law that he argues will distort transatlantic trait. mccomb speaking during a closed door meeting with us lawmakers on wednesday. today he'll have the ear of us president joe by as part of the state visit to washington. the new law, the $430000000000.00 inflation reduction act subsidizes us investment that lowers carbon emissions such as electric vehicles across as it discriminates against european firms at a critical moment for the content. what has happened in recent months is a challenge for us because we are starting to have differences on energy issues.

and the cost of to her is not the same in europe and in the united states. but the choices that have been made for which i shared the goals, in particular, the inflation reduction act, or the chips act are choices that will split the rest. because they create such differences between the us and europe. that for those who work at many companies, they will just tell themselves we're not investing on the other side of the ocean anymore. clemons cobra is director of trade policy at the association of german chambers of industry and commerce. he joins me from brussels. clemens walking to the show, we just heard the complaints of a man. well, the con, there are they shared by other european nations? look absolutely. the current situation just to show you the background, the energy crisis has a big impact on the competitiveness of all european countries. especially also germany and with the i r a,

there's another very challenging situation that increases the lack of competitiveness. so for german businesses, it's really important that both our government, as well as the european union, tackle that issue to make sure that we can continue to have a level playing field on our commerce and business ties at the same time or their german businesses. large multinationals that benefit from this legislation, which incentivizes companies that are settled in the us. i'm thinking of volkswagen, i'm thinking of. siemens isn't, is to their benefit as well. now look for german businesses. there are certainly a number of companies that will be able to use legislation and make, make years of it. and in general, german businesses are very happy that the united states also takes

a stronger approach towards the climate mitigation measures or measures to fight climate change. because so far it's been mainly the you moving ahead and creating a issues of late level playing field because other countries weren't following that much. but this is a big issue for a competitiveness of germany as well as other locations within europe. there are many, many companies that will not be able to move there to fulfill these local content requirements that seem pretty much are illegal according to w t o regulations. and there is a big fear that it will create a global race of subsidies, which will in the end for a to lose lose situation for everyone. and this is not something german companies want. i think no one wants a stronger, great conflict,

especially now in that geopolitical situation. the good thing would be to, to negotiate fair, equal access, and to make sure that we together can fight climate change and to continue to have good business relations was to leave it there. clemens cobra with the association of german chambers of industry and commerce. thank you. very much let's take a look now. some of the other global business stories making headlines. your figures show the u. s. economy expanding more than previously thought during the 3rd quarter of the year. g. d p growing by 2.9 percent. that's an upward revision from the previous estimate of 2.6 percent. economists are also expecting growth for the current quarter, although the trade deficit is growing again. twitter owner, you must said that he and apple ceo tim cook resolved their dispute during

a meeting on wednesday. and earlier this week must had said that the tech giant had cut advertising and threatened to remove the twitter app from its app store. the former ceo of crypto exchange f t x denied committing fraud and apologize for the mistakes in the collapse of the crypto currency giant. the video saved on a wednesday, sam bank mon fried, said he did not deliberately mislead investors, who have been unable to withdraw their funds from the bankrupt platform. fashion retail. each of them has ended its russian operations posing as moscow flagship store. the swedish clothing company also said it would be laying off $1500.00 employees worldwide to contend with softening demand due to rise and inflation. it's the 1st big european retailer to do so or india is expanding its pilot project for its digital repeat today. rolling it out to a group of retail users, they'll be able to make payments in real time using digital wallets. india is just

the latest country to move forward with a digital version of its sovereign currency, joints, china, russia, and saudi arabia, among other nations that are already running pilot projects of us dollar and euro may also have digital versions one day. and europe might get there 1st, some years on countries like spain are already planning plot pilot projects for the digital europe. the indian government argues that its digital currency will improve payments and access to money. also increasing transparency. deli also hopes that a digital currency will take even more steam out of decentralized crypto currencies, which has tried to discourage charo car to k, joins me from delhi for more charo. this is the 1st retail pilot of the ruby. why now? well steven, to be sure, the r b i and the federal government have been working on this for a long time. in fact, we're back in 2017 was the 1st time when the federal government asked the r b. i to study group to currencies and is to currencies,

and that was the 1st time when the issued a warning against crypto currencies and started working towards the digital currency thing. now the i is believe to be a part of at least 26 central banks that are, that are studying the calls that have been studying the concept of a digital b. you have been in resulting launching one. and it has been a gradual process about a month ago. the launch studies to be for wholesale purposes essentially forgotten securities. and now the sub pilot for a retail is to repeat, begins today it's a close to use a group that has been treated for this purpose, a lot of full fledged public rule out. but a pilot, how can we expect consumers and merchants to adopt and e repeat? what will be something that they embrace? well, it remains to be seen stephen up. first of all, we need to remember that what is being lost today is a pilot. so as i said, a close to user group a will be a part of this by looks like banks have been selected for

a couple of years ago. you get has really flourished and people use you before even the smallest of transactions in that everyday lives. so digital payments are definitely are, have become very popular in india, so b a, b could also have a bright future, but god remains to be seen as a 1000 tro. you mentioned crypto currencies, india now taxing crypto transactions pretty heavily. why has the government, they're taking such a hard line against crypto? well, yes, you're right. there's 2 units. it's a hard line. in fact, the taxes only, so as not to be able to band to currencies because they continue to be very popular will. now, of course, because of the slump in the crypto market, to investors out a little bit wary, but there has been enthusiasm in the concept of criptos for a very long time because of which the government has stayed away from a ban. but the tax is to discourage people from using criptos. now the are being

has been saying for a long time that cryptic are in these are volatile, they are unsafe and they're not necessarily the best instrument for, for countries like india, where even financial infusion is, or is this something that is that government really needs to expand so for several reasons, the idea has really been against tucker in sees it has also highlighted that is digital is not a crypto currency. it's, it's, it's, it has a sovereign backing. it has been regulated by the central bank. so the idea has really big to defer from some analysts will say that this is a, that is to be, is, is the governance official crypto student. laura, my colleague char to k from delhi. thank you. with western sanctions taking a bite out of their country's economy. many russians have headed abroad including to turkey. but the presence isn't seen as a positive by many turks who are facing so significant challenges of the road is

stumble, airport, flights from russia land here daily. among these passengers are many young men opting out of fighting and rushes war in ukraine. r 2 r a landed on a flight last month, shortly after partial mobilization or deployment was announced. he staying with his friend myisha and settling in quite well june. they're called drew people. i know here i found a russian bank and payment system that can make transfers from russia to a bank. here in 3 steps. school, bob, which is what was his demo yesterday. but what pleases are to her here, infuriate starks while they are suffering the russian visitors are doing extremely well. and it's not just then 2 months ago, beller russians. vladimir and olga arrived and, and thalia and set up a dentist academy. of course i'm fairly is perfect. i feel like over at home because totally irrational from different rations begin concerts. when you have every seen their god in school business is going well for their apartment. the

entrepreneurs can afford to pay $3500.00 euros. 70 dines, the average turkish salary agency guys still rated, told us that don't kitch citizens and i have very huge problems. they can't l m cells to rent leds, they come time because everyone looking for foreigners for dirks like eunice, emory at the rents are unaffordable. the 26 year old teacher was affected from his old apartment after his property owner raised the rent 5 fold. so he moved in with a friend the homes in on marcy. i used to spend about 10 percent of my salary and rent that's over. now it's at least 50 or 60 percent if i can find anything at all and a bit of an updated. now there is anger, especially at turkish businesses and property owners. after all,

they are the ones benefiting from valley rush inclines were driving up prices. that's it for me and the business team here in berlin, you can find out more about these are other stories online at d, w dot com slash business. you can also find us on youtube or the dw news channel. we back in a few hours more in the meantime. thanks for watching. ah ah, with

blue in awkward reunion on the coat de zia craney and more refugees come face to face with pro russian oligarchy from their home country. they all flayed here. but whilst most of the refugees left everything behind the oligarchy slot their suitcases full of money. the situation is difficult to bear. focus on bureau in 30 minutes on d. w. ah . with secrets lie behind these will discover new adventures in 360 degrees. and explore fascinating world heritage site d w world heritage is $360.00. get the app now on the green

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