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tv   Business - News  Deutsche Welle  January 17, 2023 4:15am-4:31am CET

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and don't forget, you can always get the w news on the go, just download our app from google play off of the apple app store and it will give you access to all the latest news from around the world is when it's push notifications and breaking all your up to date with all the world news. don't forget to get more if you want news and analysis. it's all on d, w dot com. you can also get social media updates at the dublin news is handled and told me to let it go myself and the team. thanks for your company. ah. she's up to date. don't miss our highlights. the d w program online. d, w dot com, highlights to put into the unknown to day. this
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means flying to a foreign planet. in the 16th century, it meant being a captain and setting sail to discover a route run. the race linked to military interests, a race linked to political and military prestige, but also linked to men, financial and adventure full of hardships, dangers and death. magellan journey around the world starts january 19th on d. ah, i'm stephen beardsley in berlin. here's a look at our top stories. the world economic forum opens up doors in davos, switzerland. we'll look at what's going on in the talk shop for the world deletes. and the idealists hope to be part of the conversation. british oxfam says extreme
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wealth has risen since the pandemic and so has extreme poverty. we'll hear from them about their new report. also on our show portugal profits from pandemic era production shake offs. stepping into a shortfall from asia manufacturers. welcome to our show. it's good to have with us, extreme wealth and extreme poverty have grown simultaneously for the 1st time in the last 25 years. that's according to aid organization, oxfam. it released its report survival of the richest at the opening of the world economic forum in davos, switzerland. today. the report shows that globally around 830000000 people are facing hunger and starvation. that's nearly one in 10 people in the world. over the past 2 years, nearly 2 thirds of the $42.00 trillion dollars in newly created global wealth has gone to the richest one percent of the world population. that remaining 3rd shared
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by the 99 percent at the bottom. or the total wealth of the billionaires worldwide has increased by an average of $2700000000.00 a day. again, that's according to that report from oxfam. the organization is calling for nations to tax well instead of just income and to raise levies on companies earning more through inflation. or earlier in the day we spoke to ox fams, director for berlin, and asked whether she expected progress at this years davos meetings. take listen yeah, thank you. yes. now, inequality has made it unto the agenda of the world economic farm. but the question is, what are politicians doing about that? not necessarily the wealthy, but really politicians because it is there. they are political, political decisions that they have to take here. and what are they doing about the broken tax system? what are they doing about and 9 equality? what are they doing about sorry, power and wealth and poverty? and are they willing to not only talk about it,
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but go ahead with both decisions that benefit the 99 percent rather than the one percent at the top. we have seen 1000000000 as also calling for higher taxation because they also find it utterly unfair that they are paying less than ordinary people. have a market stall or their secretaries. so i think there is an openness, but really it's politicians that have to take the decisions. yeah, sure. laura becker with oxford, they're speaking with us earlier. oh, davos is a meeting of the wealthy and the well intentioned, who hoped to lobby them, including so called social entrepreneurs. now that's a designation for small business owners who aim to create positive social change through their operations such as expanding low lending to women and developing countries or perhaps supporting sustainable farming. a reporter caught up with a group of them at the beginning of their stay in davos. a short break of fun. the next meeting is starting soon. they are the social entrepreneurs, want to talk about inequality and they want to powerful, especially at dollars to pay attention. they are not coming to the ground enough.
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they're not listening enough. and they need to listen, go on constantly, continuously because in the last 3 years we are face so many challenges. we've seen co it, we've seen now that a shave greenwald, and the implications of that in the world economy. and every day the poorer suffering, it's the poor who suffer, and i think we need to listen to them for this group has come to the world economic forum at the invitation of the schwab foundation, the social entrepreneurs know what's going on in the world after all, they worked with women, young people, the elderly, or the pool dis, people don't, don't have a unorganized voice. ah. so you may see the macroeconomic news on how the numbers affect are the poorest. but when you're there working every day or in slums. um, you can, you can notice that the situation is,
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is way worse than we imagine. these entrepreneurs are not interested in the route to the top and they are not looking for the fastest way of making lots of money. they want to use their companies to bring about change. this social entrepreneurship gives people an opportunity to not only get involved in a way that's entrepreneurial, right, like a business, but also generate impact. and i actually think that generations now around the world are thinking about how can i do something that impacts the world, not just, how can i generate, how can i make money, but how can i do something to change this the world? their goals are participation, a freighter distribution of wealth and more careful handling of natural resources. article door, gar, once more. so where do you want to be in 10 years? back in dallas and bro helene, the position of bower and making change and seeing a world which is much better in terms of climate, in terms of peace, in terms of inclusive decisions. hopefully it's much better than what it is right
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now. and in de nears of, you have a much younger leadership all across the globe. and also while ignoring full while many of the social entrepreneurs are still getting used to the cold and the wind in dallas, even the snow is energizing them. oh, the war in ukraine is another major topic of this years davos meetings, financing the ukraine government in particular, rushes targeted attacks against critical energy infrastructure have left keep reeling for more immediate support. and not just promises of reconstruction funds. the european bank for reconstruction and development has been one of the grants biggest investors in recent years or a puerto spoke. this chief economist, i'm joined now by the author. i've ordered, she's the chief economist at the european bank for reconstruction and development. thanks for joining us. now the e, b, r d was formed after the fall, the iron curtain to help support transitions and former soviet states,
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looking at ukraine. specifically, what have e, b r d loans accomplish? they're both in the long term. and since the war began before the war, we were already the largest institutional investor in ukraine invest. think about 1000000000 a year. we had a lot of stuff on the ground and a very in depth knowledge of the country. we supported not only the economy through lending, but also through reforms since the war started. we have focused on helping the economy in here. and now our focus right now is to help the country make it through the winter. we help keep the lights on, we help keep the ship on, and the trains running. i wanted to ask how the b r d 's approach to ukraine has changed since russia's invasion, it sounds like it's been a lot of more time response. is that correct? absolutely. our president visits to yes, met with president shallow sky and president jones, he mentioned,
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surviving the winter is the top priority, and therefore, we have lent this year already 1700000000 euros. we are supporting the purchase of gas for the winter. we are supporting urgent repairs of the electricity infrastructure, as well as trying to find notes. it's important to keep the flow of essential goods coming into the country. following the invasion, your institution said that it would get out of its stakes in russia as quickly as possible. what is the status on that we stopped investing in russia asked her the annexation on its crimea. on the eve of the annexation our portfolio there was equal to about was to worth about 9000000000 euros. by now, it's only about 800000000. we have been exiting our investment in russia. of course, for legal reasons. it takes time to unwind everything. but we are certainly
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committed to doing that. we also close our offices in moscow as well as immense. so sounds like that's still ongoing. now obviously your organization has a lot of other projects going on in other parts of the country as well. is ukraine to some extent overshadowing these other projects, for example, in eastern europe, or also in africa, where i know you're also active, not at all. as i mentioned, we had a record year of investment. we invested 13000000000 euros this year. the needs for our support are great and to we had the capacity to do that and we hope to play an even bigger role next year. i mean, lots of clouts are gathering over the european continent when it comes to the economic landscape. so i expect that we will be more in need it than before, even this year the i to you for chief economist at the european bank for reconstruction and development. thank you so much for the pandemic,
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disrupted the world's manufacturers and reeked havoc on global supply chains. you probably heard that before, but it also created opportunities for less obvious players to step forward. but portugal take a look set riding, cutting and sending for customers and friends, denmark in germany, even in the midst of an economic crisis. business booming at the olivera metal works in the hinterlands of portugal. for me were in full moon, were important of machines and other industrial goods from some regions in the world were difficult. during the pandemic. like the me, i think portugal has benefited, especially since asia couldn't deliver on all the orders of the shuttle usa 1st, there was colbert, then rush, just worn ukraine in times of crisis. many european companies are restructuring their supply chains, putting
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a premium on proximity and political stability. that's why portugal is trending. then gets from the inner t n police sites, industrial production. it's the service and i t sectors that have drawn attention. companies want to work with portuguese partners, the developing software here, some are even starting a portuguese subsidiary to do the work right here in beacon. drummond car, make a mercedes has just recently opened a new office here, and his employee over 380 experts. phyllis is gets thumped when we're making decisions when looking at the big picture and that includes the availability of talent and the political framework of a country to lane on albany, police to say it amendment to moving another advantage of working in portugal, relatively low wages compared to the rest of europe. but that could change as here to skilled workers are becoming harder to find. that's why the metal works hath
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just given raises to all workers. them, when doesn't mean that the order books are full, were being flooded. that of i didn't. so our future looks pretty stable that a good little futile adams of young for food, job security for workers, and increased confidence for a country no longer willing to be just an industrial supplier. for 2023 economists are expecting solid growth for portugal. even in the midst the full with white crisis. and that's our show check us out online for more d, w dot com slash business. we're also on youtube or the deed of news channel. it's water in there, the last primeval forest in europe. in lapland, the land of the saw me, my eyes and ecological treasure. but even here,
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the timber industry is felling more and more trees. environmentalists and the sammy r g to fight back. it's a song but there are succeeding. clue next on d. w. a treacherous journey into the heart of darkness. jonas travels from finland to cambodia. his mission to find out what caused the death of a good friend. he documents his search with a camera. the result, a gripping record of his desperate pursuit of the truth lost boys. in 45 minutes on d w. oh mm. you, thing was like a stepping point to, you know, i bought you into that. would you want to be finish your studies. now you have
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positive control crane. you can choose to go back to somewhere else. currently, more people than ever on the move worldwide in such a better life. so why, but i want to go back to 9 g. like i do have any reason to, but there's no reason that's moving from the bit. yeah, i believe something great is coming very, very soon. and yeah, come with you more about love valley story in for my grief. reliable news from my grants, wherever they may be with them, it's the end of may any naughty and the ice hasn't quite disappeared. the average annual temperature here isn't much above freezing point me in year.

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