elona bridget had launched a 3rd career as a sculptor. she took instruction and worked intensely in her studio in pietro sometime tuscany. and she's exhibited her works abroad. first, a film star and sex symbol than a photographer. and finally, a sculptor unless it's from me and the new steam bunker, why up next is stephen beds. they will have the latest business news for you, including the latest on the meeting of the global elite and doubles. have office in berlin. i'll have an update for you at the top of the thanks with we're all set to go beyond p o v,

as well as we take on the world. i do all the fans. we're all about the stories that matter to you. whatever it takes, 5 policeman a deal we are is actually on fire made for mines. ah, i'm stephen beardsley in berlin. here's the look at our top stories. the world economic forum opens up the doors in davos, switzerland. we'll look at what's going on in the talk shop for the world's elite, and the idealists hope to be part of the conversation. british oxfam says extreme,

well, has risen since the pandemic, but so has extreme poverty. we'll hear from them about their new report. also on our show portugal profits from pandemic era production shake ups, stepping into a shortfall from asia manufacturers. welcome to our show. have with us, extreme wealth and extreme poverty have grown simultaneously for the 1st time in the last 25 years. and 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. or 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 by the 99 percent at the bottom of 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. now, 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, for a few years 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 their, their politic political decisions that they have to take here. and what are they doing about the broken tax system? what are they doing about gen 9? equality, what are they doing about sorry, have wealth and poverty? and are they willing to not only talk about it,

but you're what hackers 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 store or their secretaries. so i think there is an openness, but really it's politicians that have to take the decisions. yeah. a show lot, becker with ox them they're speaking with us earlier or davos is a meeting of the wealthy and the well intentioned, who hope to lobby them, including so called social entrepreneurs. now that the 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. there the social entrepreneurs want to talk about inequality and they want to powerful, especially at dollars to pay attention. they're not coming to the ground enough,

they're not listening enough, and they need to listen, go on constantly, continuously because in the last 2 or 3 years we affair so many challenges we've seen go it. we've seen now that a show green one and implications of that in the world economy. and every day the board are 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 work with women, young people, the elderly, or the poor. 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,

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, fader, 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, lean 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

now. and in de mirrors 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, of 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 key 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. a reporter 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,

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 economies 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 wartime responses that correct? absolutely. our president visits to yes, met with president shallow sky and president jones, he mentioned,

surviving the winter is the top priority, and therefore, we have lent this year already 1700000000 euros. we are supporting purchases of gas for the winter. we are supporting urgent repairs of the electricity infrastructure, as well as trying to find us. 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 it steaks in russia as quickly as possible. what is the status on that we stopped investing in the russia after the annexation of crimea. on the eve of the annexation our portfolio there was equal to about was 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

committed to doing that. we also close our offices in moscow as well as many so it sounds like that's still ongoing. now obviously your organization has a lot of other projects going on and other parts of the country as well is ukraine to some extent overshadowing these other projects. for example, in eastern europe are also in africa, where i know you're also active, not at all. as i mentioned, we had a record year of investments. we invested 13000000000 euros this year. the needs for our support are great and we have the capacity to do that and we hope to play an even bigger role next year. i mean, lots of quotes are gathering over the european continent when it comes to the economic landscape. so i expect that we will be more needed than before, even this year. the, to your fortune chief economist at the european bank for reconstruction and development. thank you so much for the pandemic,

disrupted the world's manufacturers enriques havoc on global supply chains. you've probably heard that before, but it also created opportunities for less obvious players to step forward by portugal. take look that 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, worked in the hinterlands of portugal, who in full moon were important machines and other industrial goods from some regions in the world were difficult. during the pandemic life than 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

a premium on proximity and political stability. that's why portugal is trending, then gets fernandez, t n p. besides 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 is employing over 380 experts. phyllis is gets thumped when we're making decisions. we're looking at the big picture and that includes the availability of talent and the political framework of a country to lane on all the police to say at am and been 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 just given raises to all workers. them,

when does it mean that the order books are full were being flooded? that of i didn't so our future looks pretty stable for bethesda. i couldn't go futile. adams of young, fluffy 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 channels to watch. berlin, agents alert on every corner from the cold war to the present day. countless access vanish began and ended here. both real and

imaginary is great when the capital of spies aren't 20000000. next on d w a pulse ah, the beginning of a story that moves us and takes us along for the ride. it's own about the perspective culture information this is dw and d, w. made for mines. oh india, a land of contrasts,

of ambitions of inequality. 75 years ago, mahatma gandhi peacefully led the country to independence. what has remained of his vision? where does the world so called the largest democracy stand and where is india headed in? this is the moment to unleash on violet bias. gandhi's legacy starts january 28th on d, w. m. o l, in the capital of spies, both fictitious and re home, we were told to be careful look around. if we would ever because we had it all near from the cold war to today. many spiced toys be.