on our show, brazil reports progress in the fight against illegal gold mining community. say the damage is already done. welcome to our show. the latest rate hike by the u. s. federal reserve was pushing markets in different directions as investors puzzle out its broader implications in asia markets rose on hopes that the quarter point rate hike announced by fed chair jerome powell would be one of the last that was after shares on wall street fell. we address investors, they're focusing on power comments about a possible credit crunch among banks. concerns over the banking sector, remain high after recent high profile failures sparked in part by those raised borrowing rates. and we're joined now by carson. jesse. he's chief economist at i and g germany. carson, welcome back to the show that we both know the fed is in an unenviable position. it has to on the one hand, protect the stability of banks which have been effected by fast raising. fast

rising interest rates. it also of course, has to fight inflation by raising those interest rates. was yesterday's decision, the right one? i think it was, and i always remember a former e. c. b president mario the raw dry you. i think one said if i'm criticized from both sides, from the more hawkish and the more diverse side for my decision, i made something right. so i think it was a very good compromise. the, the fed could not really blink to the terminal. we haven't financial market back to show that they are willing to, to fight inflation. that siding inflation is actually, are, has a higher priority than financial stability. but at the same time, they kept the door open for, for stopping, where they are right now. and they didn't give markets the impression that they are willing to hire much further. so i think we're pretty close to peak interest rates in the u. s. since yesterday night global markets, of course, have been anticipating what was going to happen yesterday. what does this news mean

for europe in particular? well for you, for a year, i think it currently means that both the major central banks fed and e c. b have demonstrated that they, that they think or so that their installation find determination is for real. i think that is an important one for europe as well. and it also shows that the fact things that the financial risk in the us are manageable, that they were, that they could afford to continue hiking interest rates, which is also a good time for europe. so i think, you know, it all shows that some comfort that the terminal in financial markets in the banking industry could slow down also in europe. and that we're close to peak interest rates. not only in the us, but probably also a bit later in year. at the same time, we heard powell speaking about a possible credit crunch among bank sort of suggesting that the, the crisis may not be over that seem to alarm some investors. what did you make of

those comments? in all honesty, steven, i'm not really surprised because for me, the, the time me of monetary policy. so the most aggressive interest rates heights, in decades that we've seen both in the us and in europe. we're to leave some mark on the read economy. so this is not a surprise, and this is what is happening right now. so it means yes, there will be some issues in bank lending there, which is a reason why we think that the u. s. economy will enter a technical recession. this is one of the reasons why we think that europe will be in a much more subdued recovery. because i think many analysts, many forecasts have been underestimating the adverse effects that we will be getting this year from this extreme aggressive hiking of interest rates over the last 12 month. all right, that's carson, just key at i n g germany. thank you. are shifting

gears to india, where foreign airlines are pushing for a greater slice of the country's growing aviation market, emirates, and turkish airlines among those companies, calling tuesday for the country to open up more international routes in and out of india during an ation conference and delhi their complaints, commas, india plans to invest nearly $12000000000.00 in the aviation industry by 2025 and as flag carrier air india raises its international ambitions in part through the purchase of $470.00 aircraft. the current restrictions on international carriers went into effect during the 2008 financial crisis. after air india incurred heavy losses. that was going to charge again, deli charo. why is deli, so strict with granting foreign airline capacity in the country? well, stevens, the thing is india is one of the fastest growing aviation markets in the world. but india also believes that bulk of international traffic has been captured by

international carriers. and now the government has been very categorical in saying is that it wants indian airline companies. to expand recently, deviation minister has been of speaking to the press and he's been making a very categorical comments that india is that an inflection point. there's going to be an explosion in a traffic in the coming years, and he wants indian companies to recapture the space of that to a foreign airline does have a sort of cornered for several decades. now. these foreign airlines obviously see the india as, as quite a market for their expansion. what can we say about that market when it comes to air travel? well, said stephen, again, look that one off for the fastest growing year vacation markets in the world. every and every, every aviation company in the world, once once a share, once a share of that by the end in the federal aviation minister,

with the recently said that government estimates suggest that over the next 5 years of domestic and international traffic through 6 major airports of the country is boys to double increased by more than double to about 420000000. now those are big numbers that even in the airline companies are looking at and foreign airliners are also looking at this federal budget. there's accounting for at least re developing at least 50 major airports and water boards and entered rooms and so on and so forth. so major expansion appears to be on the cards in the indian aviation market . the other side of the story is air india. it has big plans now after sale to tata group, including more long hall flights. how realistic are the company's ambitions? well, a stephen, there were a lot of miss issa when the deal really took place. nobody was actually sure what the future is going to look like. but when finally air and your place, it's

a deal of 470 new aircraft. it's a massive deal. it's almost unprecedented in the us. a vision history and the 3 government across the world celebrated it now or by placing this order. and india has very much put itself in the game. and now that there is a lot of positivity about india's potential. so yes, the and now my analyst, i definitely are beat about it and he has plans to go about his business. but of course it remains to be seen when those planes are actually delivered. and when finally does at india begin, it's a massive expansion plan. there are other airlines also, which i've done in this fashion plans, but there you get to unfold, or a char, a car to carry on air india. it's big plans. thank you very much. and we go now to some of the other global business stories making headlines. global trade values hit record levels last year, despite growth in trade, falling into negative territory. in the final quarter of 2022,

the united nations reporting the trade search to $32.00 trillion dollars before reversing course, blocking metron green goods like electronic cars and non classic packaging. those items are strong growth throughout the year. germany is exporting more electric vehicles. speaking green goods last year, around half a 1000000 were shipped abroad. that's according to new officials, new official figures, rather as a surge of 65 percent compared to the prior year written was the leading destination for german made electric vehicles. ahead of the u. s. union organizers in france, a hundreds of thousands of workers will go on strike across the country today as protests against president microns pension reform continue traffic and air travel, travel are likely to be seriously disrupted. teachers are also walking off the job while rolling strikes continue for many oil depot workers as well as garbage collectors. ailing chinese property developer ever grand has unveiled

it's long awaited restructuring proposal for its massive debts. the company's liabilities exceeded $300000000000.20. that's according to one estimate ever grant has long been on the verge of bankruptcy. but illegal gold mining has been a problem in brazil for quite a long time. for many indigenous communities in particular. it's the scourge that doesn't seem to go away. or new government agency is now fighting back and reports it's making progress with the locals. wonder if the damage is already done. brazil's federal police are calling it a new era in the battle against environmental crime. and in defense of indigenous people in the rain forest, the newly created environment and amazon department of the federal police says it ousted nearly all of the illegal gold minors from the yano mommy people's territory

in northern brazil. illegal gold and other mineral mining has devastated the region which is about the size of portugal, not just polluting rivers and scaring off wild game. miners have also threatened indigenous people with firearms. that's all lead to higher numbers of malaria, malnutrition illnesses and dead poly. so similar to the gym, they are 180 communities and approximately 14215000 gentle mommy, people in a state of emergency, a major federal police say they focused on seizing equipment, including dredging, raft, speed boats, and plains. equipment is often and also destroyed, please say this engine was used. any legal gold mining authorities say they've confiscated $1.00 kilos of gold and it's gold and other precious metals that bring illegal miners like this one to the region illegally. mind source is account for

roughly half of the gold exported by brazil. the government is considering laws to crack down on gold laundering, but that would require electronic receipts. i shouldn't, but he sees it the hell. we need a structure that isn't based on good faith deposit. it has to be on the approval for origin and a robust legal tracking system through text document and sort of the, the hash, the lead gow or vision. and the police were well support whenever there is a suspicion that legal parameters were not followed also bought it saved go over once. yes, the gifts spot am slacking, foot off indies. indigenous people are suffering immensely due to illegal mining. how well a federal police say they are now conducting an investigation and to what could be a genocide of the yano mommy population. but many minors have not been arrested. and the fear is they'll move on to other regions of the amazon to continue their

you legal operations. and that's our show for more about these and other stories. you can check us out online, you w dot com slash business. are also on youtube under the dw news channel. i think there's no blood, thanks for watching with ah,

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learning german has never been simpler. german to go. ah, ah, ah, this is d w sly from bell it. ukraine needs ammunition. and it needs it, fox, the word in brussels as european leaders, gather forest summits. they're expected to approve a quick delivery deal. agreed to earlier in the week. also coming up, tick tock, faces a ban of the united states. the popular app is owned by a chinese company and their c o is in congress today for a hearing on the company's privacy record.