place in reaching a 48 year high crisis of pakistan is hoping a financial de la package from the international monetary fund will finally be released and will go to spain, where people are outraged that price is for olive oil staple in spanish cooking. have increased by 50 percent on crystal programming. bad news keep piling on for indian adoni group. the embattled conglomerate shares tank as it had to call off a massive share sale a donna groups market losses now top $100000000000.00. and india central bank is concerned about the impacts for the countries entire economy. go to a donnie just a few days ago, still smiling bravely though no longer the richest man in india. promising lavish investments in the israeli port of haifa despite the storm breaking over his empire . the acquisition of hype art also comes with that significant amount of realistic

. and i promise you that in the years to come vivid bounce from the skyline. we see around us salam, a done, he is now in considerable trouble. his conglomerate has just suffered a loss estimate it more than a $100000000000.00 us dollars on the stock exchange. a report by the u. s. activist investor group hindenburg research triggered the dramatic fall to report cast doubt on the value of the indian group and accuses the danny of market manipulation over indebtedness and accounting fraud. i danny, canceled the groups share if p. o. but he assured investors that the company is healthy, governor mendoza about something already strong. on balance, it is heavy and assess robust. got my down. he rose from a school drop out to become the richest man in asia. his $220000000000.00 empire is

building a large part of india's infrastructure on government contracts and supplies. india with energy and armaments. the 60 year old rejects the hindenberg accusations, but a donnie is involved in so many sectors of india's economy. that analysts fear the fall of a donnie could be the 1st in a chain of dominoes. for more or less bringing the w correspondent, charo car, to gay and deli charo. india's central bank is now reportedly asking the countries financial institutions about their exposure to the dani group or the troubles of the conglomerate, a threat to india as economy as a whole. well, that certainly is among one of the concerns chris. i mean, a donnie group, so debt at the end of last fiscal was over $24000000000.00. and there are reports that indian banks are exposed to about 40 percent of this amount. that's a huge number. these banks also include banks like the state bank of india,

which is not just the largest public sector bank in india. it is the largest lender in india, apart from banks, there are other financial institutions also involved in their behemoths. for example, life insurance corporation with india, which is in the us largest insurer, it is also state run. so there's a lot of public money also involved as far as this exposure to any group is concerned that we're definitely an issue of national concern. that's the reason why now the issue has come up to the parliament and the opposition has just demanded approval either by a supreme the supreme court or by a parliamentary panel. chris, danny is active in a wide range of sectors. what would extended problems at the conglomerate mean for people's lives? well, that's true or chris or danny is active in a lot of sectors. these include from boards to mining, to energy and even to media. neither of these sectors are very critical in

frustrate sector infrastructure sectors. so if god forbid, if the group crashes oh and a meltdown, the stock market are an indicator of what is about to happen. there's any kind of massive economic crisis that will hit the these infrastructure earth sectors. so operations in critical infrastructure sectors will be head, jobs will be lost since there's a lot of public money involved. so apart from their direct hit that consumers will take, apart from that, there's a lot of public money, which is also at stake. so yeah, definitely this is off national importance and which is why the issue has even reach to parliament now christ. danny has called this fraud allegations a court attack on india. is this becoming a political issue? it certainly has become a political issue. it's an issue of national proportions, but the attorney grew by calling it an attack on india is merely trying to hide

behind this nationalism of rhetoric that has been, that has permeated the political discourse in the country in the last couple of years. now this also reflects the allegations against the group of being closely connected with the, with the ruling govern job lead government at the center. and the group chairman, a donnie got them, a danny's personal closeness received personal closeness to prime minister in ramadi. now, critics and, and also said that this is the reason why a, why in spite of these widespread allegations and these allegations have been around for several years. and then book has only short as only or you may excess a bit of the crisis and are apart from, in spite of all of these allegations, there has been no cracked down by the market regulator say b. so a lot of these things do indicate that, that, that there's a, there's a lot of politics also behind what is happening with your donny group. chris charles, harder and deli, tara, thank you to floods last year,

have made an already dar economic situation. even worse, inflation nowadays is a 48 year high and food prices are up by 43 percent. the pakistani government is hoping that a deal with the international monetary fund can come to the rescue. driving a rick shaw through the busy streets of karachi, brings in the only income for the young man and his family. his work has to cover all expenses, groceries, housing in school fees for 6 children. but since prices have been rising, it's getting harder every day to make ends meet. but it is fat and gloom all around petrol, so expensive, it's gone beyond our reach. now i think it will be better to take my vehicle off the road because what's the point of driving if i can't earn anything? i'll try to find some other work. if i can't, it's reached the stage where i'll have to resort to begging. the government hiked up gas prices by more than 15 percent on sunday to $250.00 rupees or 1 dollar liter

. after the country's currency value plummeted last week, rising prices for gas continue to fuel inflation. life is getting expensive for they are met with douglas costs 50 rupees, a kilo. now it costs a $100.00 rupees, twice as much. how can i buy it? i just had to buy a quarter kilo because whatever i earned has gone on fuel. the pakistani government is now hoping for further aid from the international monetary fund representatives of the i, m f i there this week to discuss a deal. they'll expect reforms in return, and that means debt reduction less spending higher taxes. citizens will have to be the burden. a common man is suffer. and i'm expecting that probably the people will be on the road for best because that is sent hike in the price is completely understood 5. and i'm sure that the gum it is solving what the i m f. as soon

as he coming days, we are expecting that there will be more food rise, hike and or that will be our son army in pakistan, around 230000000 people live in pakistan. not all of them earn as little as they are met. but many are poor, they are the ones who already suffer most and will continue to be hardest hit by inflation. and let's get more in this from my colleague water emron. i wasn't good to have you here on the studio. inflation in pakistan at a 48 year high at more than 27 percent. tell us more on what that does to the people, the country, the situation is dire, the people are struggling in ways that i can't even explain. it's because they can't afford isic food, health care, or even medicine things. the alice were expecting that it wouldn't even touch 26 percent inflation rate, but it's so much higher than expected. urban inflation is sitting on above 24 percent rural inflation numbers, even more shocking,

more than 32 percent. it's become so expensive to buy anything. the weed shortage is ailing the economy. so i think it's, it's a tough time and energy prices are skyrocketing, so we'll have to see how this goes. a lot seems to be hanging on the bailout package from the i. m. f tours have been stalled, but nevertheless, with that package be enough. to successfully complete the 9th review of the i, m f t arcs would actually be really, really helpful to the pakistani government. what it would do is actually bring in the next tranche of the i m f dollars and also encourage friendly countries like saudi in china, commercial banks, to be more open because this i am as successful review would kind of be like a kind of confidence in the economy, so i feel like it would actually have a really positive environment. but the i m f conditions that they're in imposing the removal of subsidies and introducing higher prices. this is going to bite the people really, really hard. so i think it's a brace for impact situation. waterman from dw business. thank you very much.

it's the spain now and people there are outreach that prices for olive oil and the central for the spanish resume have increased by 50 percent within one year. our reporter try to find out why the olive harvest is almost complete, was the shortest harvest and lowest yield and a long time for thousands of farmers in the countryside, the round seville will effect out why? because of the lack of water, of the olives did not take on the black collar, they should have also, they are smaller and the fat content is slower. all this affects profitability, smaller harvest, but a better price for kilo, however, that only partially compensates for the poor crop. sienna, cannot godaddy. i'm her laughing without these prices. we would not even harvest at all. it just wouldn't be worth picking the olives laguna. the harvest is so poor

because it hasn't rained in months and the temperatures have been high. it was clear early on that the production of olive oil would be reduced. now there is a shortfall of more than $600000.00 tons on the world market. that only dollar amanda at the moment we're noticing that demand is falling because oil is becoming more expensive. shaquira global consumption must have fallen by around 30 percent because there simply isn't enough production as in every dollar bug. and i notice you vision the brovio produces and, and the lucia could survive one bad harvest. but the next few years could again be too hot and to dry. more and more olive trees are being artificially irrigated. and that sets a vicious cycle in motion. look as see i north yeah. whitely are facing our higher temperatures and increasing water shortages are at a printer. but bank, this is what the future looks like and it is very worrying. they got a full doodle. olive farmer,

ignacio logging has also switch the 1st plantations to irrigation, but in one he already lacks well water. that wraps up are shown for more news and background information. check out our website at the d, w dot com slash business. and of course, always have p d. w. news, news, you champ, colburn, berlin from me and the entire team. thanks for watching. have a successful with ah, with

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