tv Business - News Deutsche Welle February 21, 2023 10:15pm-10:30pm CET
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islam corresponded. tonya kramer has this assessment of pushed funds trip. the visit by germany's justice minister came at a sensitive time for israel by israel. president ice or council has called on prime minister benjamin netanyahu coalition to see consensus over the traditional reforms division in the connected and society gross deeper by the date. so far, no common ground has been found. was tanya cramer reporting their business, these is up next. i will see you tomorrow with imagine how many pushed in floods us her out in the world. climate change very hot the story. this is my plan, the way from just one week. how my wife can really get we still have time to go. i'm going all with
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what this number for her in charlotte midwife office icon b. currently, more people than ever on the move world hide in such a better life won't have us as will it as a committee god to help guzman, ashley, find out about rubinez stories, info migrants ah, wall mos warning has wall street worried u. s. retailers save price pressures on shoppers will hit that bottom lines this year. we'll cross to our correspondents in new york to south africa is in a state of disaster over its electricity crisis. we'll ask if there's any end in
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sight and then an exclusive interview. the fed philippines, foreign affairs minister explains how his country plans to balance us and china trade is to see, to re business on robots in berlin. welcome to the program. america's biggest retailers are expecting inflation to hit their bottom lines in 2023 u. s. chains, wal mart and home depot have both offered cautious. forecasts for the year ahead sank, price rise as a hitting some consumers. walmart is the u. s. is biggest private employer. will st stocks tumbled on tuesday as news of inflation precious raised invest a fears that the federal reserve might need to take a more hawkish approach interest rates hikes. set him on this that's crossed to the new york stock exchange, speak to teddy austro correspondent there teddy. so what exactly have we been hearing from walmart and home depot? home depot of you is to say well, we're, we're looking at is the,
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in these annual projections is that home depot, wal mart, these retail giants believe that the macro situation here in the united states is going to decline that inflation is going to continue to hit americans wallets, and of course those sales are going to come down. now wal mart earnings did better than expected, but they seem to be still their consumers are getting hit by inflation. we're seeing sales down in, in things like apparel and home goods. but it is a bargain, retail or right americans are buying their groceries at wal mart. now at home depot, we're seeing that a decline and forecast because of a one bill and dollar investment. they claim in wage increases in retaining their staff. so as the reaction been like that where you are well, wall street isn't particularly surprised or frightened by walmart. however, at home depot that $1000000000.00 investment in the workforce side is bringing that
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stock down. but really, the news today on wall street is across the indexes of the markets really are scared that the fed is going to continue down it's hawkish path. we saw at the beginning of this year, our recovery calculation, that there might be a pivot that the fed will be cutting rates, but indeed there seems to be a return on that calculation. ok. it's also the new york stock exchange. thanks a lot for the update. now south africans have suffered years of rolling power cuts, but just recently things have gotten much worse. earlier this month, the country's government declared a state of disaster with energy utility. ask them in deep crisis, left quite literally in the dark. many south africans are now wondering when their electricity struggle will end. forced to so by candlelight fraser. caswell, a seamstress and cape towns, mitchell's plane township has had to give up a lot of her clients due to rolling power outages that have become
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a part of life across south africa. i couldn't take a look, so it was just off, but i never disappointing. so i always try to finish up. we are stuck, clean is close. with south africans left out a 10 hours a day without electricity because of rolling blackouts by struggling state utility . ask on the city of cape town, aims to have power cuts for its residence by 2026. are you congruent economy with a poem? so we would not be having this discussion as a city, if it is come, was working. if the state monopoly was working, but like many stake monopolies around the world, it is not working. it is very ineffective. it has not invested adequately. it is very bloated. it is very, very corrupted as at the center of south africa state capture scandal of the last few years. so it does require moving away from cape town, issued a $200.00 megawatts or energy tender last year and expects to follow with another.
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in the next few weeks, officials planned to procure up to 500 megawatts from private power companies by 2026 to provide roughly a 3rd of this city's annual electricity needs. ultimately, we would look at producing as much all imports from a school as we could. but i would say for the next 5 years or so, certainly still the majority of all the power will come from is gone. but to the center, we will be able to reduce the demand to the point where the amount of we have to ship by per stage would obviously drop. other cities, including johan iceberg are looking at issuing similar contracts with private power companies and sore energy tenders. but there are major challenges, for example, so far it's mainly just large businesses and wealthy residents who can afford to install solar panels. alternative energy companies now want to help low income households. i shopping i the edge against the
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sunni, able did this city. and it is like that we do with hands dressmaker phase that caswell hope. so one day she will also be able to afford solar panels to easy impact of the persistent outages. so it's actually being done to en south africa electricity crisis. well, as the question that we put to ella's been held her reporting from kate, well, it's clear that africa will need older, extra power. it can get sold as many plans, many projects. for example, wind energy, solar energy, i think, as well last year during the climate change conference, the hope was that i forgot maybe really go green. well, the government is clear, we still need coal. we still need nuclear energy. so to go to work on all these projects, what they are going to do is going to be easier for private entities to have a solar form. i have a wind farm and fill that electricity. and also consumers,
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if they do have the means to put solar panels on the rooftops, and they have extra power left that they're not using for the household. they can send it back to, to sit african government. so many plans but not a lot of confidence because that african say we've been hearing is for a long time. now this is a crisis that has been in making for many, many years. if you look at the power stations here, on average, i think they're like 40 years plus olds. so the infrastructure has been agent has been breaking down. there's been a lot of mission management and corruption as well in the, in the power utility s. com. so people have actually lost hope. this is not a crisis that's going to go away soon. so africa is playing catch up and not a game you're going to win and winter's coming. so the fear is a might all get worse. fun hell of that. now to asia and the government of the
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philippines is hoping to perform something of a diplomatic balancing act. it wants to increase trade ties with china, while also building relations with the united states can really be a friend to all of the government claims. philippe, philippines, foreign minister and re came a knowledge has been speaking to d, w businesses. janelle jim alone, secretary manella, thank you so much for joining us today. it was a hope of the previous administration, of course that china will deliver a lot in terms of infrastructure in terms of investment. not that much of what was promised was actually delivered in the end the current government of ferdinand marcos. junior. he is also looking to pursue deals in infrastructure, agriculture, tourism. how confident is he that the chinese would deliver a little bit more for him than they did for the therapist? well, we're hopeful because when he, the president visited china last month,
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and there were a round of meetings amongst businessmen, not government, the government business and quite a number of investments ledgers were made almost $22000000000.00 worth. so where hopeful that that this will actually materialize because there was definite interest on the part of the chinese investors to come to the philippines. so we really have to see how much of these can be translated into actual projects. we hope it does, because that would certainly be a big bull into our economy and also be a source of employment, i suppose, because there is a key difference between now and then between when do there there made these deals? and when marcus has now made these deals, and that is of course, the positioning towards the us, why would they deliver more for the philippines now? well, i would benefit china. i think also for investment wise it's, you know,
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in terms of business and the whole idea is to see how we can promote economic ties and then make pro and then get the business men and the people to profit from it. and we have also recently signed into the our sip, the regional comprehensive economic partnership with china is also a member with 14 other countries. so i think these are meant to, these are actually, you can nominate or business transactions. so i basically would go in there only if you would benefit and i think that's all china would, would hopefully that's how they would perhaps just speaking from the perspective of germany, there's been a lot of review of the idea that economic engagement brings countries into the community of nations and germany has learned this lesson of the hard way with regard to russia doesn't the philippines have similar worries with regard to the
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entanglement with china, like not a democratic state and authoritarian one. well, we don't actually have a policy to prevent what we do is have a policy of diverse diversifying our interests. so for example, when we say we are friends to all that includes also economic ties. so just last week the president went to japan and we also had a number of investment agreements there, monday to almost $14000000000.00. and we have extensive arrangements with, with australia and other countries. so we are trying to not put all our eggs all in one basket, and that's exactly what we mean, or that's part of the meaning of our independent foreign policy. so while we have no particular policy to, let's say, minimize relations with any countries, we seek to maximize relations with as many countries as possible. thank you very
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much. thank you. and just lastly to spanish transport officials have resign day or a quarter of a 1000000000. your order for trains that could not fit through some tunnels. operator ren fe, ordered the trains in 2020, but the following year manufacturer a calf realized that the dimensions it had been given were inaccurate and stopped construction. the spanish government says the mistake was spotted early enough to avoid financial loss. however, the region of contemporary is demanding compensation. that's all for us until next sunday. ah. in ruined the lives of millions of people in turkey and syria. it was a catastrophe. many had predicted, primarily striking, those already struggling to survive. we travel to areas hardest hit and encounter
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despair, grief, and anger to next on d w. this week, the 77 crusade is in nigeria. welcome to st debate. thank you as electra. those are coming up really soon. well, what do your people really was the ones free of the election? want to be feeling? oh, blue with every day counts for us and for our planet. global ideas is on its way to bring you more conservation. how do we make cities, reader, how can we protect habitat, what to do with them all our ways?
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we can make a difference by choosing smartness solutions over stains, said in our ways global ideas, the environmental series in global 3000 on d, w, and online a . he couldn't make it to the funeral in time, sitting in front of his mother's freshly dug grave and the turkish village of tow car. 2 inch i shall haine, still can't believe what has happened. his mother was among the 10s of thousands of .
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