neil can augmented reality feel. one german start of says it's technology keeps it pretty close. and max, it goes government steps in with measures to contain food prices. but are they working? this is the w, is this i'm janelle dumas on. welcome. a warning for turkey. the european bank for reconstruction and development says the recent earthquake there could hit the country's economy by up to one percent of its g d p. hampering recovery efforts and a report out today. it also warns there's misplaced optimism in the economic recovery of developing regions in europe. the middle east and north africa, the e b r. d says it's focus regions, saw 3.2 percent growth between january and september of last year. but that was still slower than growth. the output of all of 2021. looking at country growth, specifically the biggest decline came from ukraine, which posted

a 30 percent drop in the study period. while turkey grew 6 point one percent during that january to september period, the e b r d says the earthquake has significantly dampened those prospects. we're joined now by evie are the chief economist, be at the g for chic. welcome be outta so let's start with turkey. you views the experience of a previous earthquake in 1999 at the model to assess the economic damage that turkey may expect from last week's earthquake. tell us, what are your findings? while the earthquake has been a huge human strategy, but also it has economic costs. however, even though this year's earthquake was stronger in magnitude than the one in 1909, we hope that it's economic impacts will not be greater. and that's because the previous earthquake affected part of the country with very strong input output

linkages to other regions. so the impact of the earthquake was felt why beyond the region directly affected the part of turkey that was hit by the cataclysm this year is focusing mostly on light manufacturing and agriculture. so the hope is that the agricultural season can still be saved. and because of weaker linkages to other parts of the country, the impact will be more limited. now, i would like to ask, what is the e b r d going to do? will you be making any emergency funds available for turkey and syria in order to help them rebuild? my colleagues in ankara are looking into ways we can help. now, it's very clear that in end the reconstruction effort, public funding is never enough. therefore, it's critical to mobilize private investment and that's exactly where we can come

in. we invest in private sector. last year we invested 1600000000 euros in turkey. and we hope that through the, our knowledge of the country, through our links to the private sector, we can bring additional private investors from abroad. and in this way help the reconstruction effort. many hands to help than and, but zooming out more generally on your report. so the title is not out of the woods yet. you mentioned a whole range of factors affecting growth expectations. what do you stands out as the biggest challenge of all? inflation is clearly the challenge that standing out, even though we are expecting a lower inflation this year. we are still talking about double digits for m aging for emerging europe and looking at historical experience. even these current projections may be somewhat optimistic,

and of course inflation is harder for people in emerging europe to cope with simply because their incomes are lower. so a larger chunk of their income is spent on basic necessities. now you've also said that markets are expecting higher gas prices in europe, and they're expecting them to remain high, sorry for the next several years. why is that? well, that because the global supply of l. n g is limited by physical infrastructure and it's very costly and it takes time to increase the ability of the world to, to sell more. ellen g, moreover with china opening the demand for gas imports is going to be higher. and even though the prices are lower than what we saw a few months ago, they are still in europe 5 times as high as the prices in the us. and that's going

to have a negative impact on european competitiveness. thank you. e, b r d chief economist b at java check there for us. thank you for your insights. thank you. now to some of the other global business stories making news. the u. s. experienced and unexpected balance and retail spending in january sales, john 3 percent from december as auto dealers, department stores and restaurants all recorded strong turnover. it's the largest month to month gain since 2021, and is expected to add to pressure on the fed to keep raising interest rates as it fights inflation. world bank chief a david malpass says he will step down as head of the development lender nearly a year early. he was appointed to the role in 2019. when donald trump was president . recently mel pass has come up against calls to step down for his inadequate approach to the climate crisis. next up are reality check. an

augmented reality check that if german start up kick fell says it's using a new technology to make augmented reality. reality feel like a real encounter. we take a look through their so called wonder data glasses to southern german city of calls rule a young start up with a lot of money and 3 founders with big plans. there are 2 so called holiday acts here. they connect colleagues as if they were in one room with the green party that glows like that as an infrared tracker at the top and can recognize the via glasses in the room. and then when i move, the image is corrected up here with software, giving the illusion that the person is in the same space. i didn't watch it. this works because the glasses reflect to the eye, what is on the screen above the person has come to me for quite a lot is going on here at the same time and there's

a display in there. we have the whole human factor, white, different dimensions. and the brightness is a big point because we're looking through it and fighting against the ambient light . and i think augmented reality is one of the most complicated things you can build right now. well yeah, because i haven't launched a rocket into space yet, but i suppose it's easier. who's making the glasses. the big tech companies are investing billions in the fight for the future market. i need to play of some players have been around for a few years like microsoft and magic leap on the big hope is that apple will bring out augmented reality glasses soon. it looks like this won't happen until next year at 5. there are other companies like in real for example, who's brought 1st marketable consumer ready glasses on to the market. the health market. a lot of these young founders in karlsruhe aren't phased by that. they technology has so far, only allowed limited fields of vision in defect. m isn't in the end. it's

a technical problem still. a few times you thought you'd solves dennis, you through a lot of money added and then realized afterwards that you don't get the fields of view that the form factors that you need. so you don't look stupid with it. i and you get that immersive feeling. we're doing something completely new. we're doing. i won't say how is that going to be 12 i t specialists and engineers work full time for gig sell so far, only men, but hopefully that will change soon. say the founders, the glasses will come on the market in 2 to 3 years, and they may open the world's eyes. now, last year, mexico's economy grew 3 percent, but rising food prices continue to weigh on mexicans wallets. this year the government has been taking steps to keep the cost of staple food and check, but they have had limited effect. going to the store is something carmen now dreds . as a single parent,

small stores are the best option. she has neither the time nor the means to shop at supermarkets. in the past, her weight is from her job at the gas station could fill the pantry. but inflation has changed that bit as these are the actual vegetables have become very expensive and other food items i used to get by on 500 pestle the monthly. no, i need 1500 pixels. at least i'll get on pulpit and saudi lead. american, i guess the only clean in january the mexican government adjusted its response to the effects of inflation. for the 3rd time. the number of basic products for which prices will be stabilized, was more than doubled to 50 from $24.00. ricardo sheffield is deering, the government measures. it says the price of a basic shopping basket has remained at $55.00 beating the government target. thanks in part to the time of the year. yes. does yona lee that in to. ready

laws, law, many products i seasonal in that a years looking for someone and what we noticed with a 2nd round of measures that emma was that the price change for fed a laser could already be seen back to the low mental it, but as years are laws are. ready not alo therapy, the santas, but basic products have still become more expensive despite the efforts made by supermarket chains and food companies. one of the challenges is the complexity of the mexican market. families tend to shop at smallest doors. more than 200000 of these shops are members of the national alliance of small business owners and peck . and it's president quite tech li vela says supermarkets used the subsidies to lou a customers to buy other brands. it their

little nicole movie weather. so we have a very diverse market, a to truck market because we have a formal industry and a very distinct shadow economy. the qualitatively bad products are not among the subsidized goods. they are used to lee or customers. they say they cost $1038.00 pixels, but it's less in the assay yami. those are bristles. carmen lives with her 4 children and 2 grand children on the outskirts of mexico city. she needs to feed 7 mouths on 2 wages. an empty fridge is the result of rising prices, and an ever hard a choice on what to buy. that gotten is there it is fair that we've reduced eating me to 3 times a week from 5 and fruit to 3 or 4 times a week from 5 given that can be amazon, letterman, inflation is leaving. it's mark, not just a mexican wallets, but also on the eating habits. and finally,

carnival season is approaching for people around the world. and of course, one of the biggest parties is in the brazilian city of rio de janeiro. their carnival is opening on friday and authorities. there's they, they are expecting $1000000000.00 worth of economic activity. a 12 and a half percent increase from the last carnival celebration, which took place in 2020. just before the pandemic shut down much of the world. $2000000.00 tourists are expected to flock to the event. that's our show. thanks for watching. mm ah. with

ah. on the road with our super heroes, my mission is clear. who crushed iga and nicole polish, explored germany. they dive in and they check everything out. there's a lot going on in there. oh, but germany tried and tested with in 30 minutes on d. w or night. you conducted snell solutions. socially, the consortium. i mean the swiss mccook, unless i have seen you before, had done the commercialism as a prescription. interested them a bruised squad. this machine used on these,

gordon said they are said a story of resilience ah, in 75 minutes on d w. hey guys, it's avalanche. are my welcome to my podcast, love matters that i and by celebrities, influences and experts to talk about all playing loved bags from day to day. nothing less the south, all these things and more in the new season. make sure to tune and wherever you get your path and join the conversation because you know it love matters. i was interested in the global economy, our portfolio d w business. beyond here, the closer look at the project,

our mission. to analyze the fight for market dominance. this is where you stood with the w business beyond. with this is a w news live from by land is ukraine running out of ammunition to combat russia's invasion. as russia intensifies it's offensive in east and ukraine. they're growing fierce. the key is using ammunition faster than it can replenish. we'll put that to one of president the landscape senior advice.