russia, 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 model euro dry you. i think once that if i'm criticized from both sides, from the more hawkish and the more diverse side for my decision, i made something right. 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, pad 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 u. s. 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 some comfort that the terminal in financial market 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 tied me of monetary policy. so the most aggressive interest rates heights indicates that we've seen both in the us and in europe. we're to leave some marks 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 the bank lending that, 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 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, the yes, 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,

minnesota. and they are 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 3, developing at least 50 major airports and water boards and entered wrong 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 sell to tata group, including more long haul flights. how realistic are the companies ambitions? well, a steven there were a lot of nice as a when the deal really took place. nobody was actually sure what the future is going to look like. but when finally air in your place, it's

a deal of 470 new aircraft. it's a massive deal. it's almost unprecedented in the us asian history and the 3 governments across the world celebrated it. now 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 upbeat about in the us 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,

united nations reporting the trade search to $32.00 trillion dollars before reversing course, bucking that trin green goods like electronic cars and non plastic packaging. those items sought 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 us 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 from many oil depot workers as well as garbage collectors. ailing chinese property developer ever grand has unveiled

its long awaited restructuring proposal for its massive debts. the company's liabilities exceeded $300000000000.20. that's according to one estimate. every grant has long been on the verge of bankruptcy. or 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 miners 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 dad's. probably some simple to commit that to me. they are 180 communities and approximately 14215000 gentle mommy, people in a state of emergency stuff. the jamaica federal police say they focused on seizing equipment, including dredging raf, speedboats, 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, which is but it sees at the helm. 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 suited the, the hash, the lead gow, or age. and the police were, i will support whenever there is suspicion that legal parameters were not followed after bought it saved go over once. yes, the gifts spot, arms, leg, and foot often beach 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, g, w dot com slash business. we're also on youtube under the dw news channel. i'm seeing there's an invalid. thanks for watching. ah, with

ah fight for freedom in georgia, a controversial bill drives thousands into the streets. then the pro russian government is actually giving in. it's a great victory for demonstrator buttons will at last focus on europe. in 30 minutes on d w. o. oh i. oh, who did you do the food? i played tennis testing. she survived auschwitz, things to music, and he was the nazis favorite conductor to

musicians under the swastika, a documentary about the sounds of power and inspiring story about survival. music in nazi germany, watch now on youtube. d. w documentary. i wish i could've done more st. you discover stories that just click away, find out best documentary on youtube. oh, yeah. really good morning to see the world as you've never seen it before. describe now t d w documentary, these places in europe or smashing all the records, stepped into a bold adventure. it's the treasure map for modern globetrotters. discover some of you to record breaking sites on your backs,

youtube and now also in book form ah ah, this is dw news lie from bell it more ammunition for you crying european union leaders meeting and so sar boulton, dos, a plan that will send a 1000000 rounds of artillery ammunition to keith over the next 12 months. also coming up, tick tock, c o fights for the abs. future the united states is appearing before congress to answer questions about whether the chinese owned platform poses.