so what our show, how does india's 3rd largest airline end up going bankrupt? well, the look the trouble surrounding go 1st airlines. and it's been dealt a floating power outlet and it could become the 1st of a consolation that helps europe di carbonized. it's energy sector to walk into the show, i'm assuming there's lead in berlin. european central bank raise that's key interest rate by 25 basis points on thursday. it's 7 consecutive hike as it battles. persistent, inflation across the single currency zone is to be present. christine le guard said, the bank has more ground to cover against rising prices, and quote is not causing rate hikes, despite essentially slowing them on thursday. annual inflation was at 7 percent in march across the euro zone. the easy b has been hiking rates since july last year. the decision to raise rates more slowly, following a similar move by the federal reserve in the us last week. joining me now is carson, just the chief economist for i n g. germany help us break this down with the c b

course and welcome back to show, 1st of all, any surprises here with this rate hike? no, not really. i think it was clear that these to be want to slow down either page and the size of rate hikes and what life that because we have seen that the most aggressive monetary policy probably being in history is clearly leaving marked on the economy. all righty. so that was the time now to slow things down from us. again, how are we seeing the effects of all these rate hikes to this point? now what we're seeing is, and that was what we saw. i see this week of the so called bank lending survey. so we see that there is very little credit growth into european economy. we see that banks record clear drop and demand for new loans, both from household and from corporate. and normally at the end of the week, week or demand for loans today is weaker investment and weaker spending tomorrow. so this is how we're seeing this, the impact of interest rate hikes. so far we will also see is um, you know,

it is more complicated to, to, to get a mortgage. it's more complicated to get into the real estate market. and this is what is gradually slowing down the economy. at the same time, if i go to the grocery store and look at the costs of food right now, i may say that these rate hikes aren't having the effect that i would expect when is inflation going to start going down. um why it had started to come down. um, but me on the, on the bank off no longer increasing energy prices or even lower energy prices takes a while. and that's, you know, everyone getting in and you cannot mix textbook knows that it's going to take between 6 and 12 months before you really see the full impact of interest rates on the read economy and where we don't, you start to come there now and um, so this means we will still have to wait probably until the end of the year to really see the full impact unfolding of the rate hives that we already have gotten until today. you already mentioned the other effects of raising these interest

rates, and that is the tightening credit conditions on the markets. is there any danger for european economies, especially those that already have trouble borrowing and continuing to raise these rates of the guard also implying that these rate hikes will not stop. as of course, there is a risk and i think for a long, long while the we have been arguing there are no adverse effects of the re type. of course the everyone borrowing money knows that there is an impact, a higher interest rates on boring. and this doesn't hold for you and me, but there's also holds for, for governments, for example. so governments have much more difficulties to know gas money in the financial markets. they have to pay a higher price and paying just higher price also means that at the end of the bill, there's right there will be less investment, there will be less public expenditures. so this is the more natural balance to how far they use be. can go by high interest rates. right? that's costing jessica with i n g germany. thank you very much.

let's go down to some of the other global business stories making headlines. the world bank has a new president. obama is an indian born american executive. and he's been held by the media in his birth country as the face of change for the global development lender on go was nominated by us present to abide last month. asian investors and credit suisse are joining in a series of landmark lawsuit against the swiss government saying it mishandled the takeover through us. in march, the investors collectively lost nearly $17000000.00 when their special class of bonds was written down to 0. as part of the deal, new number of show a surprisingly sharp drop in german exports in march compared to the month before germany x 45 percent fewer goods. which shows how recovery in your biggest economy means fragile. at the moment, drop came after 2 straight months of growth over the age and now india is

3rd largest airline. go 1st, filed for bankruptcy on tuesday and ground at all flights, leaving almost 100000 passenger strand to the carrier now owes its creditors. roughly $800000000.00 blames its troubles primarily on problems with pratt and whitney engines use. and it's aircraft with go 1st thing it was forced to ground. so many flights of the us engine baker has a, the airline is exaggerating its roll. go 1st. also struggle during the pen demik with strict rules, limited aircraft over to charge the card to kate in delhi. charles go 1st, wasn't exactly a small player with market share around 10 percent before the pen to make. what happened with steven? go 1st in the insolvency finding satisfied with the tribunal. it has uh, would be entire blame on for the engine supplied by pratt and whitney baton with me

being the american company that supplies engines to across companies that will know that. and what both of us has said that its agents started developing snags way back in 2020, but the seems button, but we couldn't do anything about those for the engines initially. so it was supposed to ground to say across and by december 2022 with this last december uh, goal for said that it was forced to ground by ground or at least 50 percent of its fleet. now that was a big loss and resulted to several other problems cascading into into sort of a domino effect which brought a lot of financial strain on the airlines stating that this was in many respects, a surprising turn of events. what does it mean for go 1st arrivals, and what is a very competitive market when it comes to aviation in india? a? hi, steven, it's a competitive market and it's, it's essentially, it looks like good news for both of us rivals. 2 of uh,

both as valuables which i listed on the in stock exchange spice to an indigo, the same price as the wind up yesterday. so it's already being seen as an indication that they're likely to benefit that a lot of us lots that belong to go fast to go 1st and those last we'd be a full grabs. these values would be very happy to gain those laws as well. and especially indigo, looks like in, in a very happy position because there are also reports that list source of go for us to add that had a provided a cops on a lease might also be contemplating providing some of those aircraft to indigo now. so good news altogether for all of us rivals. if this is such an attractive market, is there not perhaps value in an investor coming in and rescuing those airlines as well? that could be possible to stephen. but right now, what uh the owners of golfers have said is that they're still very much committed

to the airlines and they're not looking at an exits. and the owners, being mostly body group is an old investor house in, in the i'd also owns the companies in other areas like virginia and like one be dying the, a, it c o, in fact, address the press yesterday and said that the company is very much committed to it and said that even the central government does not want the airline to fame. so this thing that we've moved insolvency proceedings to revive the airline and not to be able to sell it, whether in the same breath to the scene. you also said that some companies, some individuals have already expressed interest in buying the line. so as of now it's, it's, it's not entirely clear as to what future is going to be. of the creditors are also what it does to the exposure is about $800000000.00. so a lot of things of need to be resolved before the future of logo for us becomes clear. steven. alright,

discharge the card to k and delhi. thank you. or offshore wind turbines are central to your apps efforts to di, carbonized, the energy sector. but the technical problems involved, they're often complex, including how to store electricity efficiently and how to bundle that energy from different wind farms. a one potential solution is now flawed in the baltic sea. take a look. this is that this swimming electrical socket, leaving the port of antwerp in the early morning hours on route to germany. that's 5 stories high clocking in at 4 and a half 1000 tons. all of the ports shipping have to be halted to secure the safe transport of the wind power platform. it was built by belgians elia group. the government displaced this on industry that supplies 40 percent of all the swimming sockets. to paula europe. the transformer station is the heart of the baltic sea off shore energy plan. this is how it works. electricity produced by

a cluster of wind turbines is bundled 30 kilometers off the coast, and then transferred on land to a single cable. from here, electricity can be fed into the grid. half a 1000000 households are expected to be powered by green energy that way. bundling the energy from several turbines makes the system more efficient and prevents power loss. that's important as the we said it's green energy target to 40 percent by the end of the decade. so we will have to connect much more wind farms up the for sure going forward. and this one is quite important because if we bring this together at the one platform that brings up to a higher voltage level, it's the most efficient way to bring winter energy to shore. a few last adjustments then the baltic eagle is ready to be tow. it's to his offshore location with will now help withdrew him and his energy transition plans affordable, clean energy as possible with builds and technology. germany shipyards aren't equipped to build such platforms that are a couple of countries that were

a fairly early into offshore wind. so one of the expertise that we have in belgium, with the, the ability to build these kind of large platforms to prepare them to the sale of, to bring to the do, to the see where they are then will be used for 20 to 25 years. the energy business is changing. fast. politicians are still working on the new rulebook, but it's already clear that wind energy will bring lots of opportunity, profit, and jobs. swimming sockets like the ones built in antwerp, are in high demand. and here's a reminder of our top story therapy and central bank has raised interest rates by another $25.00 basis points, and it's ongoing battle against inflation. that's a slow down from recent rate hikes, move comes after the federal reserve and united states also slowed its own rate hikes. that's it for our show. find a more online you w dot com slash business team. there is a blend thanks want the

the

goals. so often if the fatal attraction, tens of thousands are drawn to the more retaining and desert to dig in treacherous mine and risk their lives every day. but for them is greater than fear. 3030 minutes on d. w. united by a shared sense of purpose. their bond has never been stronger. the twins, fussy, in whose side they grew up with different families. now they want to build their

future together. and to do so, they must leave their home in sierra leone. twin sisters united in the search for a better life. to 75 minutes on d. w. for brain uptake. it's magic. it's the kind of man sake. because this orchestra called the brain continuously as facts in cells. we ask a few astute questions. are we smarter in swarms for us? causes monster waves. hope your full are your thoughts wherever we can control our thoughts, which makes us very power. games we have to learn a lot and we do that through play. questions about life,

the universe and kind of like a superpower. our series 42, almost every thing this week on dw, the, this is data over the years, life from time and ukraine's president calls for world war 2 style tribunals to deal with the russian war crimes. a lot of them is the landscape says the russian data, vladimir putin and others responsible for crimes and ukraine must be held accountable also on the program.