the red hot markets, why is the global spice industry is booming? business needs to be business on k. ferguson. thanks for joining me. oil prices have risen off of the world to biggest ex for her is of the commodity made move to cost to production and exports. so the re, b a says it will extend its current. i put costs of a 1000000 barrels a day until august, while russia says it will reduce its exports. both re at moscow are concerned about the prospect of oil prices, sliding weaker demand from china and europe put pressure on the factory activity for more. and that's that spring in all markets, almost live yeah. color right, to live. yeah, i want to look at both these decisions in a broader context. more than 2 thirds of faddie, rayas income still comes from selling fossil fuels. how worried is the country if i have a broader a global economic floating? well, saudi arabia is well aware of the risks of a little boy,

you know me to slow down. and that is why for us, precisely why they have been progressing the incrementing production costs that we have seen over the last few months. the, the market brought the expected this latest one medium box for the voluntary attempt to be rolled into all this. so there were no surprises there. and given all the micro certainty that's facing the oil markets, it is very likely decided media would keep monitoring the amount of a closely and make any adjustments to supply that are going forward. or right. i want to turn to russia now we know it has been selling cheap oil to the likes of china and india. will these export cuts actually have a tangible effect on those countries? a yes, absolutely. we believe that's the bulk of the rest of the production costs that were announced yesterday. we'll follow them. crude exports and assign. not any. yeah. have been to me for to the restroom codes the you and barbara took effect at

the end of last year. and over the last few months, russia has be one of the main discount, the boils that china media be purchasing, as well as rain in wales. they've benefited from that a lot. but the, the additional comes from russia will mean that, sorry, it will have to transfer more expensive benchmark res, going forward. what are your projections done for the coming months? are we likely to see more costs? do you think? well, we decided we did. we continued to ensure that that increasing the global markets do not build. this might be montane song production costs later into this year, particularly if the max environment doesn't improve or even even more deteriorates further. it may not be the full one medium box to day tasks. the data extended to listing may be small and cod. my extension is definitely something that can not be

able to balance at this point. right. maybe i gather rossi. thank you very much. thank you. and staying with the oil industry, while some countries, including sadie, arabia, are trying to lessen their economic dependence on the fuel in the long term in other parts of the world. new projects are just getting underway. our next report brings us to uganda in east africa where a drilling project on lake offers is sparking controversy. construction is in full force. soon they will extract massive amounts of oil here at lake albert and the western part of you gone to the that's trying to oral giant china national offshore oil corporation and frances total energy. as the pumps are set to begin operation as early as 2025 estimates are for at least 1400000000 barrels hidden underground. a 1400 kilometer long pipeline is planned to bring the oil in to

neighboring tons in the year. but the project is highly controversial. environmental is worry about damage to the land and water, and people would have to be moved and resettled elsewhere. people like julia tacoma, she's already been moved into a house provided by the energy venture. she's worried about her future, which will still be dominated by the mega project nearby. and then the listing, one of the major problem we've experienced so far was a couple of days ago. there was a huge task that originated from the construction site. and all of us were covered in that dust environment was also worried about the water supply. and generally, the climate crisis. oil production comes with high carbon emissions. some organizations have tried to suit total energy in france without success. officials and you've gone to reject criticism of the oil field. the government on the project putnam, we have took in deliberate steps to ensure that the oil and gas projects developed sustainably. we've taken care of the environment and by the bus to pick one son. we

are also ensuring that the livelihoods of the community to surrounding this operations improved along the sides of the development of the projects you're going to is. government is banking a new oil, riches of billions of dollars and investment to bolster the local economy and create tens of thousands of new jobs. but it's unclear of all that will happen. many here worried that any in the multinational oil conglomerates will be the ones reaping any profit, and they themselves must deal with the problems to germany. a new law has gone into effect design to make it easier on less bure crossteck to hire foreign workers. it's a much needed news. the country is sort of hundreds of thousands of workers and key industries. but for business owners, hoping to sponsor talent from abroad if can still seem like an uphill battle business is going smoothly directs tools. it takes the business in the northwest in

german town to fill it back with orders flowing unlikely our company own their deep . my direct could double sales revenues by starting a 2nd production shift, but he can't nahu give sellers. no, we don't have young work or some germany anymore. that's because at some point in the past manufacturer has had less work and tired, fewer apprentices do. we should be nearly, i understood happen. they have 43 people working in the factory, half of them from abroad production is fully automated, so work is need to know how to operate the machines. feed. my directs is in contact with an a median who could do that. he wants to hi him. hello, did my i'm well, how are you? very good. i have already saw you in a parcel going to in germany for 18 months deep. my dogs has been trying to bring rustic from armenia to germany. but german

authorities do not recognize these credentials that has been frustrating for the business owner who wants to sponsor his work visa a video. and i think also the plastic would move here from, i mean, yeah, we could manage to double up production. but because that's not the case, it's obviously a big limitation for us. i'm just thinking phones, the lack of skilled work as, as hungering growth. thereby preventing more employees from being hired. today, germany needs hundreds of thousands of new skilled workers and it will need even more in the future. for 1000000 people will retire in the next decade and there aren't enough young people to replace them. germany is relying on immigrants to fill the gap. and while a new immigration low and used to make it easier for skilled workers to come to germany experts and convinced the effects of the law helps. but we have major bottlenecks in administration. we're much too slow. the processes are not digital and take forever. and this ultimately prevents immigration and the gains we could get from it. how given that means recognizing for an credentials won't be enough

via for eighty's, will need to speed up how fast they process fees or requests that could help businesses like the my dogs with their goals to high a more workers and run up production now into some of the other global business stories making news. china has imposed export controls on to where metals vital for making some a conductor trip. from august, businesses will need a license to sell gallium on germanium to foreign buyers. oppressors, china produce of 80 percent of the world's supply of the 2 models. a facebook parent company messer has a nice a new out to compete with twitter. it's called threats and is expected to be launched over the coming days. meanwhile, twitter owner isla, must have honors users after putting more features behind a subscription payroll. now if you liked your food spicy this

next to where you will be of interest over the past few months, the price of both acumen on to work half his record highs. higher prices may be bad news for consumers, for entrepreneurs, if old a more encouragement to spice up their business plans to marie carter, him into spice sales on the rise to the height of the sun is one of the people behind the trend, his top cetera is intended to be enjoyed on popular german braids, usually eat with pure butter, and now comes around with a bit of sharpness. such spice mixtures, helped to start up score points in the eyes of the customers. give its missions and spice mixes are essentially a problem solving. perhaps i don't want to deeply involve myself in deciding what goes into my goal or so he needs spies in that case. i'll just use it to he knew your both spice mix and that naturally simplifies things. it works great for those

who might not have any cooking experience. they funded amazing just one spice and it simply tastes good and just make time tough. his business is located in the old warehouse district of hamburg despite his stuck. pembroke is the 3rd most important, top for spices worldwide. after single point, new york therefore spiced farmers like these men from uganda. come here for market research, do they a small farmers benefit from the boom? um hub. see because uh, i need this kid a. yeah i, i know if i stayed after then the price is would be much more because now, so based on demand subsidized, if you cannot separate, i too much of it. you kinda know how much more prices developing a new spice mix. here's another industry new come are from hamburg. oriental spices like human ought to be included as they are currently very popular. all ingredients

come from farmers and developing countries with fairly paid. it's part of the concept of new companies that are currently shaking off the industry as the sustainability. so for me, yeah, i seek suppliers to do exactly that. who have a direct line to the plantation often already in the 2nd or 3rd generation. and it take a closer look in advance. what is the philosophy? how important is it to them to maintain the entire supply chain, fee of payment, right back to the original product, connell. this is what they were supposed to quit that product to. the ceo also offers tasting swear premium shop us show up, you know, to often young and willing to pay up to 18 year olds for a candle spice, eager for a new taste. you know, i'm going to send that off. if i show from where you can always check out w dot com slash business, we're on the dw news youtube channel as well, from me on the entire business team here in berlin. it's by

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the burden catastrophe. climate change starts july 13th on dw, the, the business dw nearby from len israel, such as the janine refugee camp, looking for militants. dw, is in the occupied westbank city, on the 2nd day of what is riley forces. they're calling a counter terrorism, correct? on the palestinian officials say it's an attempt to displace.