she, especially as the country's coal power plants are very old. they break down easily and often have to go for maintenance. that puts them out of commission. as the electricity crisis further deteriorated, the managers of the pal gets in his he held emergency meetings with the countries president and other stakeholders. but south africans have been warned. there is no quick fix and that the outages will continue for at least a another year. oh, well here's the top of it. ah, stephen beardsley, how's your business update in just people and trucks injured when trying to flee the city center more and more refugees are being turned away. order families played on taxes to lease credit owners with his traitors. people extreme

and 200 people around the world. more than 300000000 people are seeking us because no one should have to flee. make up your own mind. double you made for mines. ah, ah, i'm steven beardsley in berlin. here's a look at our top stories, crypto lender genesis files for insolvency in the wake of the f t x collapse. we'll look at the company with almost $3000000000.00 in active loans. agricultural ministers gather in berlin to talk about the food prices affecting their countries

. we'll hear from a minister out of the united arab emirates also on our show, davos flies, the l g b t q flag, or a company is ready to move beyond symbols and make their workplaces safer. off into our shop crypto currency lender genesis has filed for bankruptcy in the us. it's the latest to fall after a state of 3 shake out in the digital asset market and the collapse of crypto exchange, f t x. genesis global capital, one of 3, genesis entities that applied for bankruptcy. protection on thursday, froze customer withdrawals in november, days after f t x made its own insolvency filing. a genesis estimates it has more than 100000 creditors or less koreans corta in new york for more gens crypto lenders like genesis, we're really acting as almost like banks. but the customers didn't really have deposit protection like they would with banks. so what can have recourse if any,

do they have when someone who freezes their, their deposits? well steven, i would say get in line. i mean those bankruptcy protection protest this, they are very lengthy. they take some time and then at the end of the process, you have to see what is left that can be distributed to with all those creditors from genesis. in this case, you can definitely expect that a lot of people will not get their money back. and then you mentioned that platform like genesis almost works as a bank, but at the end it isn't then i would say, be careful what you're wishing for. i mean, the crypto industry in general wanted to create an alternative system to the traditional financial and banking market and it is obviously insecure. and there you see what consequences that industry can have in says crypto crash has

been going on for quite some time. now we've seen the collapse of some major companies. why is it that this hasn't really leaked into the mainstream financial system? we're not really seeing a lot of sort of normal, i guess, non rich people who are really affected by this if we want to take any positive out of all the scandal and the bankruptcies that we're seeing right now in the industry, it is that we can be thankful that is not to intertwined into our regular financial system. so the losses are really limited to a few investors them and not into the heart and bottom of the financial industry. so i would say that's actually positive. and if you look what the financial system and also some banks actually were doing in the past couple of months, i mean, they took crypt currencies that took the whole industry more serious. they treated bitcoin, for example, other crypto currencies as assets. but fortunately,

it is not to intertwine and that even if it's painful for some investors that is not threatening our financial system overall. by the way, what i find very interesting is, besides all those bankruptcies, all those scandals, the underlying crypt, the currency themselves are actually doing pretty well right now. bitcoin, for example, went up on friday by a good 5 percent at the beginning of the year. big cars cost less than $70000.00 today. it's more than $22000.00 to but overall, i think we can be thankful that the crypto currencies and not to intertwined in our financial system at this point. and then i'm sure there will be another cry for more regulation in the days and weeks to come in quarter in new york. thank you. and we go now to some of the other global business stories making headlines. google's parent company, alphabet, has announced it is eliminating about $12000.00 jobs or 6 percent of its workforce

. so our beach high off, but ceo said an a staff memo that the company had rapidly increased hiring and recent years for a different economic reality. the cars come days after arrival, microsoft said it would lay off $10000.00 workers. chinese technology company, dd global's domestic ride helling app has returned to china's apple app store earlier in the week. it also return to some android app. stores de has been awaiting approval to resume new user registrations and downloads of its 25 band apps and china. the company fell a fowl of chinese regular regulatory authorities. in mid 2021. on saturday, dozens of agricultural ministers from around the world are set to meet here in berlin to discuss the challenges facing the global food network above all the consequences of the war and ukraine and climate change. now one participant is the united arab emirates, a federation of 7 oil and gas rich emirates on the persian gulf. and one of the

main issues here. groundwater is used to irrigate crops like tobacco dates and citrus fruits, but it's salty and resources are finite. the middle east has face water challenges for centuries, and more recently with the rapid growth of cities like to buy and up adobe global warming is likely to make conditions worse in the near future. and that's creating urgency for solutions. mar emory is the united arab emirates minister of climate change in environment. she recently spoke with our reporter kate ferguson, who began by asking why the country had chosen sultan algebra at the head of state oil company to lead this years international climate gathering. cop 28. now mary begins this interview by mentioning the global stock take, and that's how countries track progress on their climate goals. take a listen. we all know that the global stock take it will be the 1st global stock take will take place and it basically it's a report card where we see where we are against where we should be. we all know the results won't be looking good. and so it's really important that we have people who

can get results. and so tom comes with a track record as well, of being c e o of founder of monster, which is our flagship, a renewable energy company. and he's really move the needle on transitioning. the u . e. m a into the renewable and energy space. and so with that today, if we look at the economy, 70 percent of the g, d p is non oil based. and so this drive we want to get as well going on a global level. right, i'd love to ask you about some of the climate challenges that the u. a itself is facing out of the desert country. of course you are used to facing water scarcity and but this is being made worse because of climate change. what is the government doing to address that problem? yeah. so we, we are a war to scars country. we have less than 5 percent arable land. and as i was saying, the 2nd half that we are, we are responsible for is really ensuring we're positioning the u e as

a country that is committed and serious on the climate action. and with that comes the space and how we're using innovation and technology. i'm also making sure that we are working on our andy sees making sure that we're looking at of the climate agenda, not just as the energy a dialogue, but also food systems transformation, a reversing by diversity loss. and as well as tackling pollution and a waste and all the likes of the other and emitters and the system or in the climate change agenda. so what's really important is that we and this is something that i'll be leading with all my fellow ministers in the country and all the stakeholders is really making sure that people understand the climate action dialogue is not just the energy dialogue. it's so many other aspects which we want to bring to lights at. cop 28 and innovation will be really key to this and not just innovation and products, but also innovation and systems approach as well. or board k 1st and there with

mariam omari. she's the u. eas, minister of climate and environment. or to day marks the end of the week long world economic for meetings in davos and mix of political and business be dating were companies talk shop ends like to tout values for the l g. b t q. community visibility is growing at the week long events, but so are concerns. the companies are more interested in talking about change than actually encouraging the world economic forum and our voices flying the rainbow flag for l g b t q rice. after 50 years of divorce, global l g, b t q. acceptance and equality are taking center stage at various events. belgium's deputy prime minister pit deserter is a trance. woman who long considered divorce a corporate haven with no relevance to the broader debate on inclusion. she split it's changing, and these are, it is also important for you as

a c o in your business to have attention for diversity and inclusion. it will make your business better. so it's a win, win is giving rights to people and opportunities and attract talents. an anti lee to grow and personal growth, but also economical growth as the wind wind. and i think we need however, critics here say companies are still shy about supporting the community. but as young people play a bigger role, they are growing calls for greater acceptance and understanding of the l g b t q community. as no visibility, a divorce is important to boost support. like a big imprint sort of visible fine of hey career people are here are inside or outside. we are important contributors to these conversations, but also this community of global leaders who are we're really improving 0. we're on the reality remains that an over 60 countries, l g, b, t,

q activities are still forbidden. this mostly, but not exclusively happens in developing countries. i am always aware of how transgender people is having a lot of travelers in mexico, in latin america, in every region, with a lot of balance. i mean, in my region, davina killed their life expectancy is very low, and we need to do something because this is not possible. they're human beings, they're amazing human beings. we need them, we love them. and we need society to think that way too. even and many industrialized countries, there are discriminatory anti l g b t q laws. so activists say it's not enough to put diversity on the agenda at davos and make themselves look good. this new profile has to translate into actions to improve l g b t q writes or in, finally, asia is getting ready to celebrate the lunar new year. and for many countries,

it's the year of the rabbit. what do you do if you own a pet rabbit? and are hitting the road for the holiday. a common question i know. well, you can take them to bunny style. it's billed as a luxury rabbit resort. guest there. can rome a large play area and even stay overnight? the business open 7 months ago and is fully booked for the holiday. keeps yes, it's busy with regular exercise spa treatments. and of course i'll take care back in. all right, that's our show for more you can check us out online. d, w dot com slash business also finds on youtube or the de debbie news channels to watch when making the headlights and what's behind them. d. w, news, africa. this shows that the issues have been the continent. life is slowly getting back to normal here. where on the streets to give you enough reports on the inside our cars funds is on the ground reporting from across the continent and all the

trend stuff. the mazda to you next on d w. ah, farmers and the punjab region have 2 opposite problems. groundwater levels that are far too low for groundwater that's far too high. increasing salt levels in the soil . good trim, forming be the solution. what we are doing in i already exist, been salary in the water. we have boating organism, part of the lively heart of these apartment, e to india. in 60 minutes on d w. ah, we're all set to get go beyond a as we take on the world. 8

hours. i do understand we're all about the story that matter to you. whatever it takes. 5 policemen follow being paid deal. we are your is actually on fire made for mines. this is the dublin use africa coming up on the program called south africa as weston and energy crisis lead to we collapse so that countries economy it's affected lives and businesses from health care stopping when the power is out to flash and extra cash on generators also coming up she bought closes.