tv Business - News Deutsche Welle January 2, 2023 10:15pm-10:30pm CET
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told me to a game, i'm only sinister because of my father and there's no way to separate that from the connection with a layer. it's something i can't describe and it makes me very emotional. she got a mazama. p lay arguably the world's greatest ever player had been undergoing treatment for cancer. on tuesday, a procession carrying police coffin will pass through the streets of santos before he will be light to rest. in a private ceremony, you're wanting to be news article really state you now or business with any winter . with every journey is full of surprises. we've gone all out to give you some tim, why the indian, the footsteps of the rigby home i'm in your northern most count please.
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ah, 3 times longer. still very much alive. dw channel, your guy to the center in germany knew it recognizes where exactly it was fun. i learned a lot. our culture history. all their d. w. travel extremely worth a visit. ah, ah, croatia is making a big change for the new year, adopting the euro. the government believes is a big opportunity for the country will speak to correlation, finance minister to find out why. also coming up turkey notches up recalled exports, but there's more economic trouble. beneath the surface will have the nellis and to
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get vanilla or strawberry customers in cape town, or turning to some rather unique ice cream flavors to cool off this summer. if that time again dw business, welcome croatia has kicked off the new year with 2 major moves towards integration into the european union as well as adopting the euro. it's also joined the passport free shannon zone. for the next 2 weeks, croatians will be able to use their old kona bank notes alongside the euro. then it's a final good bye to the old currency. the moves are expected to provide a big boost to their countries, a tourism industry, which accounts for a 5th of its economic output and was badly hit by the pandemic. our reporter stephen beardsley spoke to the croatian finance minister, mako primrose in zagreb, minister primrose. thank you for joining us. today. marks the 1st full day the businesses are open fully. they're using the euro now they should be giving back change in euro up. you've overseen this implementation. how do you expect the
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introduction of the euro to really have an effect on ungracious economy? thank you very much. first of all for inviting me. well, the benefits will be multiple of 1st of all, i would stress the importance of eliminating the currency risk of primarily from the public. that portfolio, since more than 70 percent of our republic that was euro denominated. so with the reduction or elimination of this currency risk, ah, we will be also more attractive. and we have also witnessed the benefits in terms of the credit ratings. whichever significantly increased. so the 3 relevant rating agencies, moody standard and poors, and feature ratings have already in july increased the crate rating of crecia, which is now historically high. ah, also with the accession to the european stability mechanism, we expect our boring cost to decrease. our not only for the government but also for
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other sectors, for the households and for entrepreneurs. and so we expect really multiple benefits for him from your introduction, all st room. so for transactions, the transaction costs will be reduced. seen some there estimated at around 1200000000 kona and so increase sha currently. and the costs related to the conversion of occurrences on which are the significantly high will be a completely eliminated with the introduction of europe. we also expect of benefits syndrome. so firm being more attractive, not only for tourists, since we are a well known to his destination, but also for businesses. we expect the also benefits in terms of attracting before in investments or, and other benefits when it comes to the more integrated and connected and approached words. the countries that we mostly do business with about also to the
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most developed countries of the resume at the same time, krisha is a very small economy compared to some of the other big economies in the euro's own . should there be any concerns about what that means for an economy that no longer has total control over its own currency? while not really whipping that the benefits will be a multiple not only for crecia, but we think that the introducing the euro and accession to the euro's on of country. as gratian is really a benefit for the euro zone as well. and since when it comes to our public finances and our public that to g d p ratio a has been constantly decreasing. and also our budget deficit is within the master criteria limits. so we're also adjoining the euro's own will not only may crash about eurozone general stronger, and that will be hard when assy briefly will be hard for creations to give up. that old currency has so much symbolic value of course of the currency of independence.
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what do you think? i don't think there will be some challenges in disregard them. of course, the question of national identity is important, especially for certain segments of the population. however, a, with them creation side of the euro, kill your european union coins. so the euro coins ah, with gratian national side, we will also be able to promote our symbols. and we are actually happy that the euro coins with gratian national side with will certainly. um, what, join of the european union's and the financial system. and i would say a financial circulation of bureaus own, so we are see benefits in this regard with incur it will also promote creation will use and creation identity, recreation, finance minister, marco premera. thank you very much for your time. thank you very much. and that was
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steven bitterly reporting there now to some other global business stories making news. the international monetary fund is expecting a 3rd of the world to enter recession this year. the downward trend is primarily being driven by a slow down in 3 major economies. china, the us, china, and europe. dubai has suspended its 30 percent tax on alcohol sales free year. it also cut the price traders must pay to sell alcohol. the city has cut back on regulation lately, with the aim of boosting, tourism and attracting more foreign workers to the reaching and turkey's trade deficit reached a 110000000000 dollars last year, the highest and nearly 3 decades, according to data released by the ministry of trade on monday, or tuesdays exports rose by almost 13 percent to a record high imports increased by a whopping 34 percent. and our reporter x from energy has more on this aircraft. so course ada one's going to want to emphasize or record exports,
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but there's a massive trade deficit that importing more than it's exporting. so what's the main reason for this massive trade deficit? well 1st for turkey has never been a country that him that exported more than it's important since 1946. but it's such a high deficit has never been seen since almost 3 decades since 1996. and maybe this is not the main reason, but this is for the most part due to the unconventional monetary policy ado on government has been following since a year and a half. and which is basically lowering the body of turkish lira and letting foreign currency continue competitive. and this reflects on such a high trade deficit. because as i said earlier, the tokyo is always importing more than it exports. and weak mirror is not happening at all. okay, and these figures appeared to show as well that russian turkish economic ties have
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strength. and despite the war that's going on in ukraine, why is that? this is extra precisely because of the war that's going on in ukraine. as you know, turkey has never taken part in the sanction regime, which is imposed by european union and united states on russia. so we see, especially in december, in last month, the trade william between russia and turkey as increased significantly, turkeys, exports to russia, increased 122 percent. enforce imports from russia also increase 56 percent. and this is primarily due to turkey's some sort of unbiased roll and intermediate position between the west and russia. so since russia is sanctions almost everywhere in the west, it turns to turkey for purchases and $0.04. ok. and of course, big elections coming up this year. and we don't know exactly when yet. but what does this development in the touch economy?
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what is the situation that you're going to mean the election? surely something big? what? short answer. somebody has got to pay. yeah. but this is going to be after the election, because what you see now in turkey are due on, on government is ramping up to public spending, reducing to retirement, age, and laws are getting cheaper and cheaper. as you know, the interest rates are going lower and lower and we are months away from the election. so this is time to spend money for, for any government in turkey actually. and this will most likely end up in a huge recession higher than ha, should've expected already. so and who will pay this price, of course, turkish people and turkish working classes and. and there will be no way back from this because combined with 84 percent inflation, this really doesn't look good. ok. so it's going to be a difficult election for either one by the sounds of it due to the economy. a
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committee. thank you very much for joining me here in the studio. now something completely different. what's your favorite flavor of ice cream? what about cost, cost flavor or even fish? that's right. well, an ice cream shop in cape town is treating its customers to some rather unique flavors this summer. but behind some of the older flavors is a serious point about connecting africans to food from their own continent. when tap you are goose. i 1st started making ice cream 12 years ago. he never imagined he be working with ingredients like roy bowes and pumpkin puree. but his promise is a taste of africa in every scoop. and that means using ingredients and flavors that are indigenous to the continent. at some point it became an aspirational thing to say, i don't eat african foods, i eat italian food and eat blah, blah, blah. you know, at some point i realized actually wanted to correct this narrative, that's things from africa 2nd reads,
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or the not as important that is valuable or then what is delicious will accessible . so i started to try to address that problem or thing in the world where we have africans and value ourselves. and consequently, we don't get to change your own foods as much as machine is. little creamery is located in cape town and is called coffee toppy. which in band to means yum, yum people often bring him ingredients from other parts of the continent, allowing him to make ice cream with amaran's seed, biscuits and coconut or a bough, bap with ginger. customers are always surprised to some or touched many se there's struck by the familiarity of the flavors. a growing up wouldn't you? that asked him can be vanilla. something that is, is not from here. now if you eat something like sam, something that you know we grew up eating at same time it's it's, it's, it just mixed it connect it, connect to with your childhood. top you are gazelle says he's concocted over 800
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ice cream flavor. so far, no flavor is ever repeated, he says, and he believes there are many yet to be discovered, not just for africans, but for tourists looking for a taste of the continent. and before we go, a quick reminder, our top business story croatia has become the 20th country to join the europe. move is being seen as a major milestone in the countries integration to the european youth and job to date with d w. business. if you want more, check out our website, d, w dot com slash business. thank you very much. to watch with a resolution on the street really thinking urban environmental european. couldn't deering to leave away next on
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d. w. a joy ride through fascinating worlds. into uncharted deb with our guides and know their way around with a strictly scientific trip to some pretty wacky places. curiosity is required to borrow today in 60 minutes on d w. ah. with i think everything jenny fair, some are big. i'm listening so much different culture between here and there. so jelly, do you for everything? ah,
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and to some of this i think it was worth it for me to come to germany. i shut my got my license to work as a swimming instructor here on dish. and now i teach children and adults with what's your story in take part, share it on info, migrants dot net. ah well used to the streets of our cities being hectic, smelly and noisy always have been always will be. right. it's up to us to find all way through the traffic. what other options do we have in more than ha.
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