also coming out of india, pakistan on gold smuggling with another proposals, a cost import duties on the pick list written come odyssey and will take you to the us state of nevada. whether brace to mind, lithium has a connected legal battle between indigenous people and the federal government. this is dw business. i'm head ferguson. welcome. massa, the parent company of facebook and instagram says they will allow former us president donald trump, back on it's platforms following a 2 year ban. the company suspended trumps accounts in the wake of the capital riot in 2021. but now says, quote, the public should be able to hear what the politicians are saying. the move would allow trump to communicate directly with his 34000000 followers and to presume direct fundraising on the site. critics accused the company of pushing profit over people's safety. now india is expected to slash the import

duty on gold to undercut smugglers government backpedaling on an earlier policy. last year, india actually raised the import duties in an effort to bring down the deficits that the higher fees turned out to be a boost for black market. operators who smuggled golden from overseas, ansel, it for cash to avoid duties. the government, the hopes that causing import duties again comes in time to lift sales during the upcoming peak season. for gold, india is the world's 2nd biggest consumer of the commodity. that for more in this we can talk to d, w correspondent tiro car to k in delhi charo. give us some context here. how big a problem is gold smuggling and india? well, it's a huge problem gate. oh, there's huge demand for golden. india is the world's 2nd largest consumer of gold after china, and are imports and most of, and, and very little of it has produced a domestically. so most of this demand is made through import imports. keep rising

every year. but so does smuggling tons and tons of gold, a smuggled gold is confiscated every year by the authorities and engaged by government figures suggest that in 2021, 22 gold worth $5000000000.00 indian rupees was confiscated. now this was just the confiscated smuggle smuggling and the 6 modeling that succeeded could have been much, much higher. so government has been thinking of ways to counter the smuggling, but so far to very little success kit. ok, they've had very little success. well, best to fish and actually come up my going to thing where it remains to be seen. kate, it's easier said than done what the government is planning is that has been thinking that dan has been a baton whenever imports grew or go up, or smuggling also goes up. so governor has been thinking that if it slashes the or duty then, or the bureau of retail prices of gold will come down and retail sales will improve . the thing is that does smugglers give huge discounts?

so it's, it's a very beneficial proposal for those who indulge in the smuggling of gold. so it remains to be seen whether just slashing, import duty will bring down smuggling as well or not. interestingly, just about 6 months ago in july last year, government had significantly raised the import duty. so this is a kind of for you turn in policy that government appears to be taking. remember, these are only unconfirmed reports. government is yet to announce this. slash and import duty, kate and her, you mentioned that most of the indians called is important. but could there sufficient half an impact on the domestic over finery that are, are facing the country was certainly get if this decision is taken. ah, good refineries and banks are they've been asking for this decision, in fact, for a long time, because the kind offer discounts and the kind of cheap prices that smugglers offer . it is very difficult for refiners and our banks to match those offers. so they've

been asking the government for a very long time to reduce the duty you to use the roughly around 18 to 19 percent at this point of time, which is very high and which significantly takes the price of gold or upwards just duties ago. gold hit an all time high air gold prices hit an all time high in india and are, but refiners and banks have been asking for a very long time for the reduction in this import duty. such remains to be seen whether this is actually done or not. but yet, refiners would certainly be happy if that has done kit, or i terrified hope. thank you so much. it's to lebanon now where are farther plunge, and the country's currency has prompted protests on the streets of favorites. lebanese households have been suffering through one of the harshest economic downturns in recent history. many people say they simply cannot take more pain. the anger outside lebanon central bank is palpable demonstrators, bern, tires, hurl rocks, and call for financial reform. that's largely due to the fact that the lebanese

pound has lost more than 90 percent of its value since 2019. 0, for us, this used to buy a kilo of meat for me and my kids. now it doesn't get me chewing gum. our kids are hungry, we're hungry, dropped the dollar. we want to live, have mercy on us. i will protest that little is being done to mitigate the economic disaster. no jane, and i'm with him out to tell lebanon central bank chief, that their mistaken policies of let us hear that someone should be held to account . they should work to return the strength of the lebanese pound to what it was, and returned the country and its finances to what they should be better than that he had midway. eliza mccool, one of those gathered here, have a few proposals restructure banks, implement capital controls and reform bank secrecy laws. a similar scene is playing out in iraq, rockies protest in front of the central bank,

asking the government to intervene and the decline of the dinar. the currency dived after the new york federal reserve imposed tighter controls on international dollar transactions, resulting in increased prices for imported commercial goods. but demonstrations here seem to have made some impact. iraq's prime minister replaced the central banks governor siding, his inaction back in lebanon. the governor of the central bank rashad solomon remains in his post, despite being accused of laundering public money to europe. and the country has yet to reach a bail out agreement with the i m f. a consequence of a government with a divided parliament, adding fuel to a growing fire. now to some of the other global business stories making news, german software giant s a p is to cope 3000 jobs of 2 and a half percent of the company's global workforce. it says it wants to cut costs to

focus on its cloud business and is considering selling its remaining stake in us software maker qualtrics. it follows math lay off on google, microsoft, amazon. and in stark contrast, germany's economy minister, robert ha back says nearly 2000000 jobs need to be filled in the country. that figure is significantly higher than the 800 fives and vacancies released by the federal statistical office. the government says it wants to change laws to address address the lack of workers. british annual car production has dropped the lowest level since $956.00. now due to global shortages of semiconductors, which have limited capacity to make cars at all. you case, biggest foreign owned auto manufacturers made 277-5000 vehicles in 2021. that was 41 percent less than the previous year. electric car maker

tesla made a record $3700000000.00 profit in the 4th quarter after price reduction on some models for its demand. the company is hoping to build 2000000 cars this year as it seeks to keep up with a strong competition from china. now to the united states where the government is in the middle of an ambitious push towards the green energy, a key part of the plan involves switching to electric mobility. but the lithium needed for evie batteries is still in short supply. at present there's only one operating mine in the car and plans for new operations at soccer path and you are state of nevada has ignited a legal battle between indigenous people and the federal government. i reported stephan theme and visited the potential fight. ah, believe it or not, this is the only major operational with your mind in the united states. the silver

peak mine in nevada, silver peak is a so called groin. mine, lithium is drawn and extracted from brian that is in the ground water. the process involves a network of $22.00 palm spending 21 square miles and takes 18 to 24 months. at the end, there is lithium or white gold, as they call wanting to get up to, you know, between upwards of 8000 metric tons and annual production. $8000.00 metric tons of lithium per year. soon. sounds like a lot. it is not, in fact, it will be less than what was the demand for lithium in the u. s. 3 years ago in 2020 air go the u. s. as a lithium problem. just about 50 miles from about us northern border with oregon. second pass is supposed to be the future side of a massive lithium, open pit mine and process facility spending. at least a 1000 acres or 7300 hector's is believed to hold the largest this im deposit in

the united states. not only do we need this project for national security purposes, but we need it for the environment. so we're, we're committed to doing it right. we're moving forward with preparing for construction it. however, the 2nd pass is not only the traditional homeland but also sacred ground for the indigenous nations of the war. she shook the you and the social at least 2 tribes by the lawsuit. that ends of stopping the project effect appears completely that the people know that mining doesn't also just bring jobs, but it also brings annihilation to homelands and will, will annihilate indigenous peoples way of life. there also none indigenous people who have concerns about lithium mining attack a pass q max wilbert, for him a member of deep green resistance, an environmental group that some brand as radical. the idea of mining effect pass

is fundamentally wrong. no matter what. going up, the mountain isn't green and blowing up a sacred site isn't right. there's nothing more to it. i here is where different worlds used cars and a court decision about the pending lawsuit against the mining project is expected to be issued soon. and i, reminder of the top business story we're following for you this, our mess, the parent company, a facebook and instagram says it will allow former us president donald trump, back on its platform after a 2 year bond in the wake of the capital riot. the move would allow trump to communicate directly with his person. 4000000 followers. fundraising on the site

critic se messa is pushing profits over people safety the far show for more you can always check i c, w dot com slash business. for all on the jumping, you'll get your channels to find a staircase for me and the entire team. it's a by with

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