yemen, he delivered his traditional or be it or be blessing to paulson's, gathered on saint peter's square partition. as she li, a speech to front, the saying that it was his magnificent army. it was a message of hope and b, for the feat at christmas. and that's all the news for now. stephen beardsley is up next with the latest business use, you can always get more d, w dot com on our breaking news up. unexplained her thanks for watching people in trucks injured when trying to flee the city center. more and more refugees are being turned away. warner families played on the tags in syria. for these credit on with trade. people fleeing extreme drought.

ross getting 200 people. her son from the agency 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 with. ah, i'm stephen beardsley in berlin. here's a look at our top stories. pressure mounts on irans wobbling currency, the reale on going protests, and the failure to get a nuclear deal are pushing it to record lows against the us dollar. winter is

officially here and that has germans closely watching gas reserves across the country. sounds a bit dull, but for many businesses, the stakes are actually quite high. also in our show, the german government dubbed them freedom energy at the beginning of this year. so why is the build out of renewables like solar and wind power moving so slowly welcome to the show, the iranian currency, the reale, continued its record plunge over the weekend. pressure is building from 2 different sources, the ongoing protests against the regime and to runs, failure to make progress in nuclear talks with the west. the protests in which demonstrators, from all walks of life have called for the fall of iran's ruling theocracy, have thrown an already struggling economy. further into disarray, the reale lost more than 20 percent of its value. since the nationwide protest erupted more than 3 months ago. the effects are hitting ordinary families hard

love. i say this is leaking on the condition has become terrible. it's had a very bad impact on people's lives. life has become so stressful. people's purchasing power has declined and conditions have become extremely difficult. and the pain is likely to deepen even within the government. there's discontent. all team making that no law that of the team within the government who decide on the economy of the country, the currency of the country and the future of the country are acting so ambiguously and provide wrong reports on these issues. but iran's economy minister is putting the matter in the hands of a higher power in shallow what had obedient, my god willing with the decisions to be made by the central bank. the stability will come to the currency market in the upcoming weeks or months line. the german government on friday suspended programs designed to foster business with iran. the

move will affect export credits and investment guarantees, as well as germany's manager training and fair trade programs in the country. that will affect trade between the 2 countries. worth more than one and 3 quarter 1000000000 euros. let's look, let's look now some the other global business stories making headlines. tesla has suspended production at its shanghai factory for this week. the car, me car maker announcing the decision weeks ago without providing a reason. the closure comes as the number of coven 19 infections increases rapidly across shanghai. tesla is also dealing with higher than usual inventory, even offering rebates rebates, rather on some models. u. s. government has wanted a $1000000000.00 contract to lockheed martin to produce parts and components for f $35.00 fighter jets. earlier this month, the company received the contract for over $430000000.00 to deliver

a new high mobility artillery rocket system. a weapon system that the u. s. has sent to ukraine. massive strikes have disrupted ends of the year travel in the u. k . and france rail workers in both countries of walked out to support their demand for higher wages. in the u. k. airport workers were already bogging down travel times by striking more public sector employees have been walking off the job in recent days. well, if you turn on, the local news here in germany are likely to seat reports on gas reserve levels. that is the combined amount of gas held in various underground reserves around the nation compared to their capacity. it's not especially riveting coverage, but for many businesses it's a vast importance. should gas levels fall to fast say after especially cold temperatures, their gas could then be turned off as a rationing measure. and some firms don't have alternatives. germany, gas storage facilities and never attracted much attention before. now they're at

the center of public debate and for good reason, the countries energy security depends on them this winter. for german business has like this break factory in bavaria production is dictated by the levels of germany, gas reserves. that's a major thing or we, we check that almost every day and where it's, it's how we run our business. you know, we need it without gas. the ovens here stay cold, the gas go through the yellow line right through here, into the oven and there it here. inside the brick, you can see the fire, it fires the brakes. so the brake burn, full reserves, ensure steady brake production, even during the winter months when germany imports less gas than it uses

just a few kilometers from the brick factory and voy, fuss back lies. germany's deepest gas storage facility. it's a porous rock gas storage. what's above ground is just the tip. the most important part lies 3000 meters below their the gas, the stored and porous rock that's millions of years old. it soaks up the gas like a sponge and permeable rocks and water around it. act like a natural barrier and prevent leaks. the gas levels are closely monitored at all times to more to can talk to northern ones. today we're at 99.2 percent. it takes about $150.00 days to fill or empty the storage facility. and this way, the void, fast back gas storage could supply up to 300000 households with gas for one year. most of the time when we come, the uneasy question in the back of my mind is,

what if we have a really cold winter? because if it's really cold, we'll have problems even when the resource full that could see flames go out and factories close. despite germany, state of the art storage facilities and he launched on joins me from the political risk consultancy eurasia group. he's director there for energy, climate and resources heading welcome to the show. um, should germans be optimistic or pessimistic when they look at the way gas supply is shaping up this winter? and i think germany can look fairly optimistically into the, into the early saw the 2023 for sure. gas consumption just before christmas was really high. that because it was really cold demand this week after christmas and before new year's eve will be really low. because industrial gas consumption will go down because there was an all day and the lakes weather forecast is for relatively mild weather for the next couple weeks. and gas images are still about

86 percent full. so we should be right. we've often heard that next winter will be even harder to share that opinion. and why is that? if that's the case, that depends actually a little bit on the rest of this winter because if it the flips to be really cold of the next couple weeks and then stays cold for the remainder of this winter, then gas amenities will have been depleted quite far and that will mean that germany, it's, utilities must spend most of next year. we fill in the inventories again without any russian gas. probably. that could be a problem. but so far we estimate now that even if it turns quite cold again, that you may also should be right next winter government is, will be, will be refilled. the energy, the liquefied ship gas is now coming to germany and most supply has been secured. but it's going to be expensive and that is going to be a problem for next year because energy prices will remain pretty high. and there has been this looming threat of rationing, at least for maybe late winter or late fall,

i should say that sort of gone away so far. at the same time. have we seen that people have been responding to the threat that they've been saving, especially businesses and households? what have we seen there? have there been attempts to really pull back there happened to be quite impressive a 10 year, and i think that deserves mention in a so household definitely try to reduce consumption until about really cold. because if it gets cold, you need to heat a matter of life. but households have reduced consumption boost than normal levels . and so i've industry, most companies that we work with and that we talked to have made really active plans to reduce the consumption immediately and buy as much as possible without reducing the industrial output i causing recession. so this is one of the major successes in probably avoiding rationing this winter. it's reduction consumption by industry and households. we saw a story there before we came to you about a brick maker dependent upon gas should rationing take place and we can't say to what extent it would take place. but how devastating would that be to

a largely industrial economy here in germany? so this is a risk because especially small to mid sized companies that have less space to save money, they're less of a cash cushion, and they can't just sit down for a few weeks at their family. owned that this is, this is your life, and that is a risk and of course, energy intensive businesses. like you mentioned, the brick makers, glass makers, cement makers. this is an, this is an issue. this is a problem. or rushing would be a problem for someone to shut down. but the bigger problem is probably for several years of high prices that are going to hurt them. and that will probably require some further government support next year. all right, i'm sending launched on from the raise your group. thank you very much. and you were speaking of energy in germany. the build out of renewables is moving slowly despite a new push prompted by the war in ukraine and the countries dependence on gas. and whether it's rising cost or germany is often tenacious bureaucracy. almost everyone

involved from network operators to business owners and communities. believe things could move faster. germany is not known for its sunshine. and yet here, near berlin and new solar park is being built, the approval process for the park took just 6 months. but this set a precedent for renewable energy projects. that's other, the fact is that there is still a great deal of leeway to delay individual approval procedures. can they be gone for fun off to higher than rules for cultural heritage protection? no one possibility when war from aka open for if there is a hill somewhere in a field which no layman would even recognize as a monument. this means that in the end, there cannot be renewable development in a radius of several kilometers surrounded. i see that as nothing more than prevention, politics, and not very forward thinking. it's like my fin the homes politic. went on mission aff one guitar. and what about wind power? germany is most important renewable energy source. this year, wind turbines,

with an output of around 2200 megawatts, were commissioned enough to supply around 2000000 households with electricity in nice navient, next year, 12000 megawatts will be put out to tender. that's the enormity of the task. the administration is going to have to shift up the gear, but as albert's tempo, germany's electricity grid is expanding their snail's pace. and this is holding up the energy transition. the government has simplified many things, but there are often problems when it comes to implementation. the math, none particular roekel or growth until the measures actually take effect. we assume that at least as far as large solar, parmesan and large wind farms are concerned. it will take at least 3 to 4 years until they actually have an effect her with of, with us or 30 looking at yet. the sola park near berlin is to start supplying

electricity next year with an output of 20 megawatts. germany is picking up the pace in the energy transition, but needs to find a 2nd gear. here's our minor over top business story. ongoing protests against iran's harlan regime continue to take a toll on the economy. the reale is plunging to record lows, putting mounting pressure on households and businesses. and so for me, in the business team, thanks for watching. ah, and cultivating cocoa in canada, eating plantations, and climate change we're making life difficult for farmers. then a dutch, him to young, helped out with dish monitoring irrigation systems and organic their lives

a game changer for gun as coca farmers you can look on by next on the w. but i was just curious if you thought they were great you ah welcome to a qu, africa, i hope you're ready for pack show. i am chris, the lamps coming to you from.