she tries to deal with it by getting back to her old hobbies like swimming in the sea. her daughter kitty is also making slow progress. and a reminder of our top story today, european commission president was left on the line that says that the you plans to place fresh sanctions on moscow before the 24th of february, exactly one year after russia invaded ukraine on the line, made the announcement at a summit and keith after a short break rout watts, we'll have the latest news from the european central bank in dw business stage in for that article early in berlin. thank you so much for your company. with blacks can inspire big changes, meet the people making it go africa joined them as they set out to save the environment,

learn from one another and work together for a better future. ah, many folks, do you all for tuning in africa on d w. make? oh, raring to read me. if there is any erotic benefits, remember you'd have to find it between the lines. he w literature, 100 german must reads ah, another hefty rates high from the european central bank. as now let up in the ac v's assault on inflation. but is it leading the euro zone towards the recession and a $100000000000.00 gone in a matter of days in d, as a donnie group,

market value continues to tumble as it abandons plans for stock offerings. this is day of your business on robots in berlin. welcome to the program. the european central bank has raised interest rates, half a percentage point. i'm sick, not yet another hike in march, e. c. b has been increasing rates a record pace in the face of high inflation, fueled by the energy crisis that followed russia's invasion of ukraine. the latest 50 basis points hike comes despite data, suggesting that yours and inflation is easy. it also follows the u. s. federal reserve announcing a smaller rights increased and lastly, as here from the see be chief christine, my god. the governing council will stay the course in raising interest rates significantly at a steady pace and in keeping them at levels that are sufficiently restrictive to ensure a timely return, often inflation to 2 percent medium to target. well,

let's discuss these, these latest rates, decision with cost and bridge s k, the chief economist at ion j. thanks a lot for being with us cost and b, c, b actually have them follow the fed in phasing down the rate increases. how's it? so what does that tell us about the different stages that the 2 central banks rat yeah, yeah. this is the more advanced in the, in the tightening cycle. then the be still has some, some grounds to catch up. so they are still very aggressive. it's not only that the should be higher interest rates by more than 50 basis points, but they also more pre, committed to another rate like at the march meeting as the president in regards to that they intend to hire another 50 basis points in march again. and she didn't indicate that these rises are going to stop either. i mean, is there any end in sight? how long can this go on for? well, if you look at the, the us, it could still go on for a while,

but i don't think that the to be, can go as far as the fed did when it comes to the level of interest rate. so i think march as a done deal as well, and then we'll probably see another one or 2 race fives before the summer really starts. maybe smaller sizes, no longer 50 basis points, but 25 pages quantica. now the tricky thing for the e. c, b increasingly gets yes, they only have one job to do and that is to bring down in places. but the higher they go with their interest rates, the more hom they do to the read economy. and that is not what the me really has in mind. so balancing, getting inflation down and not hurting the economy is getting increasingly complicated. so we will see an end to re types before the summer. and we are already at the point where the, your, as an economy is universally stagnating. is there a danger that we could go into a recession as a result of rates, hugs?

looking hydro, monetary policy, higher interest rates are probably the most under estimated negative impact for the year as an economy this year. we already had $250.00 basis points re times we're going to get another $1250.00 basis concert total of $400.00 basis points in probably less than the year time. this is done an enormous mark on the read economy dusting off the housing market. just think of loans and businesses in order to find an investment that we so urgently need. so yes, these, these extreme pipes, monetary policy and interest rates will slow down the euro gone economy and are in my view, a big driver behind the big nation that i expect for the years in economy this year . okay, customers, s k from i n g. thank you very much for bringing as your expertise.

now let's take a look at some of the other global business stories that are making the new british joy and oil giant shall have posted nearly $40000000000.00 a profit for 2020 to doubling. if any is compared to a year earlier, it's storing energy prices. the company also announced the record for the quarter profit on the $10000000000.00 exceeding analyst expectations. and matters. shares jumped almost 25 percent after the company reported better revenues than expected for the 4th quarter. 2020 to the tech giant, which owns facebook, instagram, and what also cut it's expensive outlook for this year by $5000000000.00 and announced additional $40000000000.00 or share buyback on that. let's cross to our financial correspondent in new york in the quarter against the new york stock exchange for me. why is method done better than people that were expecting? well robin, the good question is also, why is the stock come up so much?

i mean, clearly it got to hemorrhage in the past year, but actually this earnings report wasn't that, stella. yes, revenue came in a bit better than expected, but still for the 3rd consecutive quarter. actually a revenue a drop, the what wall street clearly like this that facebook or met us getting the expenses under control. they also announced let's investment in some businesses for 2023. so mark tucker, burke, the ahead of mid it was talking about that 2023 will be the year of efficiency. that doesn't really sound too exciting, but costs that could be come under control. and that's why what we'd reacted. so i'll be me. well, after the bell, we've had some a big tech results haven't weighed. so how's the rest of the sector looking? well, i would have to say that the initial look at the after reading from amazon or from

the google parent, dim alphabet, do not look too great, especially after both stocks actually increased about 7 percent during the session . so now, after hours, if we look at the alphabet, for instance, they clearly missed on the profit side. so that stock cuts under quite some pressure after hours. we see, for example, that the cloud business was doing as great as expected, especially corporate clients. they're pretty flexible, how to spend their money when it comes to the cloud segment, the same by the way. it's true with amazon also there the cloud business, a bit of a disappointment for the past quarter amazon and beat expectations when it comes to revenue about the outlook for revenue, it's all over the place. so obviously, some uncertainty is there, and also amazon got under quite some selling pressure, at least initially, after those figures came out after the market tells me an interesting 2023,

especially after all these companies now. so there's job losses. young corta in new york for his thank you to india. now, the ambassador, a donnie conglomerate, the industrial giant, has now lost a massive $100000000000.00 in market value in just a matter of days. after a short feller, i serious allegations about the companies tax practices. the latest plunge came after donnie was forced to cancel a massive shasta got on my danny, 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 off. realistic. and i promise you that in the years to come vivid bands from the skyline. we see around us along a done, he is now in considerable trouble. his conglomerate has just suffered the loss,

estimated more than a $100000000000.00 us dollars on the stock exchange. a report by the u. s. activist investor group hindenberg research triggered the dramatic fall to report cast doubt on the value of the indian group, and accuses the donnie of market manipulation over indebtedness and accounting fraud. i. danny, canceled the groups, share f p. o. but he assured investors that the company is healthy. fundamentals of our company are very strong. on balance, it is heavy and assess robust. got him 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. aliana g crisis is not the only reason the life has been getting more expensive. europeans, unseasonably. hot weather has hit harvests across the continent, driving up prices in spain. it's affected a kitchen table staple. the olive harvest is almost complete, was the shortest harvest and lowest yield in 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. seen. i cannot godaddy, i'm laughing without these prices. we would not even harvest at all. it just

wouldn't be worth picking the olive cigarette 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 will make dollar amanda at the moment. we're noticing that demand as falling because oil is becoming more expensive than europe. global consumption must have fallen by around 30 percent because there simply isn't enough production as in every dollar bug. and i notice vision to brovio produces and, and 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 add a printer. but bank,

this is what the future looks like and it is very worrying. we got a full doodle ali farmer. ignacio logging has also switch the 1st plantations to irrigation, but in one he already lacks well water. to suffer a mind of the top business story that we're following for you, this house. european central bank is raised interest rates, half a percentage point as signal yet another hike in march. dca has been increasing rates at a record pace in the face, the high inflation mass over man, the business name here. as data will you, if you are more from, as there had the d, t, v dot com slash business, all the data, we encourage you to chat until ya is in the throes of a real estate front. the turkish metropolis is running out of affordable housing as more and more russian spar buying and renting. their prices are exploding.

those with average incomes can no longer afford to live in their city and are being displayed focused on europe. next o d, w in good shape. a child's health is the most important thing to parents. but what is good and what is bad for little ones? and when should grown up, start to worry. in good shape, dw, ah, in mind is with

getting ahead using tech as our documentary series of founders valley foliage africa. to meet the founders in. they're continental through digital innovation transformer, work and health and living conditions in their country. and inspiring the world with their ideas founded valley africa started february 13 on the w with hello and welcome to focus on europe. it's great to have you with us. for many people in turkey.