spurred about just how damaging that could be for your, of the largest economy. hello, welcome to our show. i'm speaking, there's a in berlin of the russian rouble dropped to his lowest value against the dollar in nearly 15 months as investors responded to revolt. but russia's mercenary group wagner over the weekend. gas prices also briefly rose before settling later on monday. mercenaries led by if jenny precaution stuff stopped a rapid advance on moscow on sunday, with questions about present, it's not important grip on power. the russian currency is down half percent weekend, but it's last about half its value since russia's invasion of ukraine did us know or is founder and president of the global solutions initiative. he joins me for more than his thanks for coming on the show. we've seen the rouble fall against the dollar. we've seen a gas prices rise. how would you describe this market reaction that we're seeing put it into perspective for us, please. as i think the market reaction is very partial

and has not considered adequately all the risks that arise from the current situation. there is some of them in russia. russia is not one of the top 10 most important economic powers in the world anymore. but it is a major energy producer and the major supplier of grain. and if something happens, the then obviously green price has less energy prices will change. but that is not by any means the full scope of the challenge that we face. because we recently had invalid and the global solution summit, where we looked at big global problems, climate change, biodiversity laws, financial instability, poverty. these are global problems that require a rule based international order in order to solve them. and if we do not feel that we are approaching such an order because of this conflict,

then i think the problems in other areas likely to be mess is that something that markets right into account? what could this mean for russia's already difficult task of staying afloat in the sections economy? we know that there's loves speculation beginning that the sanctions will help sink this economy faster is managed to hang on. this has to be another troubling development. is this an extremely troubling development because of the increased on certainty? we don't know how strong pollutants grasp on power is. we don't know in which direction the future or of russia is habits. and therefore, it's really important for us to understand what this could mean for investments more broadly in terms of economic activity in countries

that are either geographically close throughout, show or have for economic relations with it's a huge amount of uncertainty is brought into the fixture and that is bad for economies because it reduces investments. and so, puts people in a position of waiting and seating rather than acting, which is what we need now and recovering from me because it's been done they should for our age trying to bring the ukraine conflicts to um, negotiated conclusion, which ultimately it has to have that is something right away from the level before that's dennis, nor president of the global solutions initiative. thank you very much. thank you. and out of some of the other global business stories making headlines. opec officials expect global energy demands rise to 110000000 barrels per day by 2045.

that news coming during an energy conference in kuala lumpur, malaysia. now despite other energy sources such as gas and hydrogen, expanding oil will remain, quote, eras irreplaceable for the foreseeable future. according to opec, german business morale worse than for the 2nd consecutive month in june, mostly on account of weakness in the manufacturing sector. and that's according to a survey by the countries renown evo institute. analysts say that it shows that you have the largest economy faces an uphill battle to shake off a session, or lack of skilled workers continues to hamper germany's economic growth. that's according to the state own k, f w bank. a for in 10 businesses are affected by labor shortages. the bank expects the situation to worse and if the economic recovery gains momentum. meanwhile, government bodies calling for germany to hike its minimum wage by 82 cents to 12 year olds and $0.82 by 2025 marcell frontier as president of the german institute

for economic research more so thanks for coming on the show of this work or shortage in germany is not the radical anymore. it's cutting into companies bottom lines. what does that mean for the german economy? as the shoulders of the workers, which we have 2000000 open shops out of the employment of 45000000 is a massive problem for many companies as fedex, skilled workers from highly skilled engineers to work is in the health care sector, and it automatically is not just meet you about growth. it's also the issue about the question. many companies can buy and many companies come find the i t program is they come find the, the skills workers they need to stay competitive in the global economy. so it's be the next essential threats to many companies, such as a just this past week and a district level official was elected from the far right alternative for germany

party in the state of to arrange it. now, for those of you may not be familiar with this, this is a 1st for this party in germany, and it's caused a lot of hand wringing across germany most. so you've said that this right were turned in. parts of germany could have an effect on this work or shortage. can you explain that to us this, this successful economy needs? um, what uh, richard, florida and economy. its called 3 tvs, technology, talents, and tolerance. and uh, for the region to do well, it needs to have skipped work as a queen, set young worker. so i'm motivated to want to stay in that beach and will advocate inspected and won't be seen. now studies is that was regions where you have less tolerance, particularly young people move away, and people don't want to move into the regions. and, and this is this, the, the, the demographics is the single most exp, strongest explanation. why the writing f d is doing very well,

the regions where young people are leaving. i'm not doing wiley, and obviously i'm to that again, has to do with the also with the tolerance that exists and that reach. we've also seen that these regions are seeing a lot more investment in recent years. um a lot more announce investment a lot more of factories coming to the regions, production halls, things like that. could that not help by adding a kind of a stable job picture for region that might then help the political picture? that's the crucial challenge for both the federal government and the local governments is to create new opportunities and regions that have structural disadvantages where people have been leaving. and because regions that don't have a very strong infrastructure, whether it be more remote and so it's really about creating opportunities stand. but of course, governments can do it only as much. i mean, they can provide subsidies for companies to move to certain regions. but that alone

does not do the trick. you still need to have that openness tolerance develops a groups to what's the address groups within reach and for those subsidies to work right. much more so frontier is present of the german is to for economic research. thank you. thank you. i in the past decade has seen a retail revolution with online companies booming compared to brick and mortar shots. but the swarm of package deliveries brings its own complications as subsidies greeting their teeth like barcelona is now putting a tax on delivery services every day. thousands of career drivers navigate their way through the streets of barcelona. keeping up with deliveries, schedules means constant time pressure, and traffic regulations sometimes take a back seat. with even disabled parking space is considered fair game. here at city whole local politicians, one amazon to pay its fair share. a little med nurse. bethany was under the new one

on monday. i left you this. the homeland companies don't pay local taxes, but retailers, do they create jobs in the area? the online giants are happy to come here and use public space and disappear again because you're going to be spending $50.00 that makes fees and that space is a very scarce asset in barcelona. only 5 handles the tax some way and then see what it is part of your political case won't be in discussion of to the homeland traders with i know you're turnover of at least $1000000.00 zeros now have to pay $1.00 and a quarter percent of their revenue to the city. market leader, amazon. under range of other logistics firms are fighting the move. yes. ok. now look at face, a guiding it will make online what is more expensive in barcelona than elsewhere? what's the next step? i'll say maybe try to know why i find the city to prevent people being able to go shopping on the internet and putting definitely the local authorities. i striving to support local retailers here and this and in the u district,

you'd barely know that the internet existed. a lot of residents do their shopping and the traditional way on foot. businesses that have been here for generations are among those complaining about online retail via choose the new competition of avoiding taxes and adding to air pollution. but most of the letters came from, you know, just air but bottom dimensions about 15 minutes. the concept isn't everything being reachable from home on foot in 15 minutes means far better sustainability. at the same time, we tell stories, invoke social contacts, identify shop owners, and we give people a sense of community and what's community that godaddy are going. the especially on the new tax does not apply where customers collect the order themselves at one of the 1000 or so pickup points. amazon has across the city, the city government wants to see significantly more of them. amazon and other companies affected have already challenged the tax. many other cities are keeping

a close eye on developments after roll. it wouldn't be the 1st time the advice alona has been a trends that are and finally monday, march, the beginning of the hush, the annual muslim pilgrimage to mecca and shop centers in the city are seeing an uptick and business. a larger number of pilgrims is arriving for the annual hodge compared to when coping 19 restrictions were in existence. well, this year, as well as holy site is expected to host more than 2000000 worshippers from 160 countries. a figure that could break attendance records. this is a reminder of the top business. the way we're following for the russian rouble dropped to as low as value against the dollar in nearly 15 months, as investors responded to in a boarded revolt or the private wagner group. of mercenaries, that's our show. do check us out online for more of these headlines and more. that's d w dot com slash business. we're also on youtube or the database channel.

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our series guardians of truth watch now on youtube dw documentary, the a this is the, the news live from ballot flooding the filter and makes his 1st appearance fits the weekends a board to revolt. boston is video address that russian president failed to mention the most serious challenge sofa to his long route also coming off and they to also make since 1st comments on the chaos in.