so it's, it's a safe and harmless partying that we're talking about tomorrow. lisa, the, we in paris tonight. lisa, thank you you're watching the w news. after short break, rob watts will be here to take you through the business news. another rise in us interest rates. i'll see you tomorrow, with people in trucks injured when trying to flee the city center. more and more refugees are being turned away. families on the syrian for these correct only thing we learned demonstrate people seen extreme command.

getting 200 people in june around the world, more than 300000000 people are seeking refuge. yes. why? because no one should have to flee. make up your own mind. d. w. made for mines. ah ah. is the federal reserve taking a step back? the u. s. feds latest interest rates rise is the lowest hike in months? so is it winning its war on inflation? and also on the show how ukrainian tech workers are keeping their high

t sec to running even from a far less this database business on robots in berlin. welcome to the program. another month. another rates rise from the u. s. federal reserve, but december's hike signals. a change in gear rates are going up by half a percentage point somewhat less than a 3 quarters of a percent increases following the previous for fed meetings. it's just a cooling and the central banks, all our war on inflation and follows date is suggesting price rises, slowed in november. however, the fed has indicated further hikes are still on the way well, let's cross over to new york and to our financial correspondent, yann's court and discuss this bit further. yes it, was there anything surprising really in what we heard from the fed? you know, well, i would say there were a couple of things that were quite some interesting. i mean, 1st of all,

i mean yes, we do the inflation cooling off a little bit. but obviously it's a bit more persistent than what the federal reserve expected. just back in september and that has consequences. so we will probably the interest rate to increase a bit further. also than expected in september it will reach somewhere a good 5 percent and probably in the next couple of months. and then that will also have consequences for the labor market. so the federal reserve, the unemployment rate up at least 4.6 percent. so that would be an uptick of about one percentage point from where we stand right now. and then also the economic outlook got lower to about point 5 percent for 2023. meaning more or less that we will see a standstill when it comes to economic growth for 2023. even if a jerome paul did not want to talk about the recession at this point, ends markets around the world of in anticipating this fed rates rise all week, but has it gone down where you are the new york stock exchange?

yeah, it has been a pretty wide ride here in the afternoon, especially since jerome saw paul thought it all started talking. we hit the market down by more than 300 points in the adult jones and i still everything with all its like uptick that went down again. so at the end of the day, blue chips ended the day around $150.00 points lower. not quite them hopper percentage point, but i've seen that so often with those days of the federal reserve meeting, traders often need a night and investors to sleep over of what they're heard. so the real reaction to that meeting, we will see that on thursday. yes, i still need to settle in the next quarter in new york for us. thank you very much . but it stay on that fed rates decision as talk about his why the implications particularly belong beyond the united states. joined by jo cohen, chief economist,

the keenan institute at the university of north carolina. thanks a lot for joining us on the to be business of the central banks are going to have been watching the fads today and jerome pals announcement, what will they have taken away from it? i think following up on what your cars find that you said, i think that they're going to continue to have to, to raise rates. and, you know, they moved up their, their expectations in terms if you look at what the fed is saying, they raise their forecasts to over 5 percent by year and half a percentage point from the timber meeting. and then as opposed to market tenants, they did, you know, them kind of easing faster. they're actually going to be using less than an 80 or so that's a bit of a change. and perhaps shit in market expectations. i think back across the world, they're saying, well, that is going to be continue to be fighting inflation and especially and, and so their u. s. interest rates are going to be higher. that's going to put upward pressure on

the dollar down real pressure on, on other currencies. and that's going to, you know, help in some, in some cases such as europe in terms of competitiveness. but in other cases in emerging markets, in places where you have a dollar that denominated debt, that's going to be more problematic. it just makes their cars interest cost higher . so that's the challenge. yeah, let's talk about emerging markets a little bit more because says stocks in emerging markets, you know, left with relief earlier this week when we saw the us inflation figures that were, you know, better than expected. why is fed policy being so closely watched in emerging markets and what are they going to be looking out for in 2023? so 1st i was surprised by the people so positive about the inflation data because the core, the kind of excluding the energy price is still relatively unchanged. so i think the challenge is that in place has been much more persistent in the us. and as a result, via the added continue to have to raise rate in terms of emerging markets,

the challenges that, that in many cases, their debt is denominated in dollars. so they don't a can't issue as much that in, in foreign currency. and so while they're there, a weaker current, you know, a stronger dollar, a weaker current, emerging market currency, beneficial to their trade numbers, the financial aspects of it is, are harder. so what happens is that it cost them a lot more payback that, that and then that raises questions about financial stability in those emerging work countries. and so that becomes a big challenge and, and, and so that's, that's what i think they're, they're most worried about the financial stability impact of, of the, of the fed and youth. unfortunately, we've seen this game play out, or where fed raising rates causes pain to emerging markets and that's ups. you know, i mean, countries have been working to try to avoid that. you know, sure of their balance sheets, but it's just, it's something that, that, you know,

there's, there's, it happens frequently and, and, and in some cases there's not much you can do because as an emerging mark country, people want to borrow in dollars versus, or don't want to let you in your local currency because of that's all i can explain, great hearing what you have to say a gerald curren. thank you very much for joining us here on the to be business. thank you. now let's take a look at some of the other global business stories that i'm making. the news years president joe biden called for broad partnership with african nations. today at a 3 day summit of african leaders in washington bite and also highlighted some $55000000000.00 worth of planned us funding for africa over the next 3 years. which includes private investment deals, quite frankly, new or the year is pledging to invest 10000000000 euros in southeast asia. it's part of a plan to offer account weights to china's influence in the region. the news came

during a meeting in brussels between leaders of the you and the association of southeast asian nations has yet coming grow, can be your energy ministers if again, failed to strike a deal on a block wide cap on gas prices. countries demanding the measure se would shield their citizens from and their economies from high energy cost. but that puts them at odds with germany in the netherlands, who worry that suppliers will simply skip over europe. germany's recession is expected to be mazda then, previously predicted. according to the institute for economic research analyst expect gemini, g, d, p to shrink by not point one percent in 2023. that's less severe than the, nor to point 3 percent previously predicted. and banking joint hsbc says the plans to end financing the new oil and gas fields as part of its climate transition plans . it says it will continue to provide services to energy sector lives at the corporate level. if their plans are in line with the banks climate talking now you

cranes, tech workers are still very much on the job. despite the hardships of war. many companies in the sector are secure in contracts as a show of solidarity from their clients. at the same time, thousands of i t workers who fled to the fighting ascending money home to help with the war aft, oh hearty. shortly after the initial russian attacks in march. ever since the war came to ukraine, telecom experts are trying to repair cables and connections under difficult working conditions. whenever there's no electricity, they'll have to get by with flashlights and rely on help from colleagues abroad. noticed america no more. no. our main problem today is that with no electricity and no network and we are no longer connected to our workers,

not and many of our people are working in. hark, if bush and we don't even know if they are safe then year. yes. oh, yes. ah, that's why most 80 businesses have pulled the employees out of hockey entirely. one of them is natalia salem, aka. she's running her company's hockey office remotely from the polish city of krakow virtually connected to 1400 i t specialist. every morning she asked how they're holding up. the all keep doing our best we understand that we have to outperform, to make sure that the are, are successful and be able to support our country. yeah. yeah. just wanted to show you a one of our best friends of these days work. i don't have electricity right now, but so the generator is working. the star link is working. there is some problems

in here with electricity and water, for example, at my home. but there is no problem in office. so everybody gains do or to keep on by today and yesterday also here is the light. here's the coffee. so we keep going. this is what they'll worked, looked like before the war when 250000 ukrainians were working in the i t. the business had been booming for years, even growing by 23 percent this year, the year the war started, hospitals were among those benefiting we in west and donate a lot in defense of andre. so we, beneath our kim, we id be within it more than $1000000000.00, grieving us, and we continue to do it. oh, the fact they're still able to do this proofs. one thing ukraine's i t sector is more resilient than most people knew. and a reminder,

the top business story that we've been following for you this our, the u. s. federal reserve has hiked interest rates for the 7th time this year. december's rise of half percentage point is lower than the previous fall. however, the fed has indicated that more rights increases are still on the way muscle from in the business team. here in berlin, from alder, head over to our website, it's data we dot com slash business. you'll also find it on the d to we and use youtube channel and on facebook as d to we've dr. business. so next time ah ah, the teacher in terms of boy, yes, in the go need is a ukrainian farmer. many people depend on his family, his employee,

people around the world are counting on his with how does that affect him? 3000. next, on d, w. more aside, ukraine's technology sector continues to boom with growth of 23 percent last year alone. and natalie, is it alma in her company? are but part of the success story? how is this even possible under conditions like these made injury with 60 minutes d, w. ah, ah! on the melting reporter tracks down the arctics. major players

with you see rouse, begins a dangerous game, people overseas that yeah, we are here. we're patrolling the area now, the cards are being re, shuffles, who has the best tattered russia, is a quite active economic in the arctic. if you see something that looked like james bond, it has to do with the military. yes, i do think it starts december 23rd on d w ah ah, welcome to global 3000 landfill refigured. we discover a very spec.