future, this is dw business i'm of the vina. welcome to the show. russia is hosting 17 african leaders at a russia africa summit in st. petersburg. it's a sign moscow wants to strengthen, is that can all make ties with a continence according to russia. its trade with african countries last year go to nearly $18000000000.00. its main partners are all julia egypt, olivia and go lot nigeria and so done, rushes biggest exports to africa, our weapons, they confir, 44 percent of exports and don't come with human rights strings. attached moscow is also an important food supplier, especially in green, an exchange it gains access to african raw materials and strategic entries like port bases in libya and so done. all that you can develop as a senior lecturer and politics and international relations at leads back at university. i asked him what african nations hope to gain from the summit?

well, thank you for having me. um, i think i mentioned uh quite a lots of things to gain. uh, but as i stated previously in my rights all up prior to these defaulted under, this would be on easiest related. so for the security, so i'm show weights are the easiest with the green do for security on how to solve that green deal will be, uh, it will be on the agenda of secondly, uh, they would also want to get some security assurance ease from russia. incense on the, on the new security architecture of going forward. so yeah, fine. so i love pay the kind of game, but they need to be able to speak with one voice. that's the only way to kind of get anything from you so much. i to yeah, you mentioned flipped security here earlier today. russian president vladimir put in pledge to gift african countries,

tens of thousands of tons of green. but at the same time he's also destroy ukrainian green export facilities. that africa relies on it and he's torn up an existing deal. so how concrete and how high are these hopes that there will be a real green deal that emerges from the summit and not just gifts? well, but not for me. i think of gifted has nothing, no for this page. it shows how long does he bring to rely on the to the needs based charity, supplemental grades and then needs to be reassured that this supply would be guaranteed. so gift is not good enough. and that's why he said that the needs to be a strategy on how the green, not just from russia also from the train will be assessing was the last week i'm country. so if this is not good myself, you know you to model out to maintain. so like, i think the medium to long term is another aspect that's playing

a big role in the summit of security. the russian, a private military company, wagner has a strong foothold and a few african countries like the central african republic and libya. and there doesn't only interfere in these countries leadership, but it also holds a lot of economic weights. for example, by running a vast mining network to other african nations fuel where you have the influence of this private company hold on the economy. and these come countries. yes, absolutely. many other countries, especially in west africa, um uh various just to call home the role of watching a gun. i use a variable called voice. this which i did when he comes to these because they have bought out and didn't know to book, you know, fossil i, country that has very strong ties with what? no group, i do a whole lot spoken previously on on this group is not really a problem in being in west africa we. i have a phone interview, but they do central because of because it said a lot of human rights atrocities are carried on by just bruce they they,

they do what we also use a computer. they say they did when they had the operations. a very, very um, i'll say in, in some area. so yes, i agree that maybe the doesn't in does rejoined uh uh, not confronted, but we do road. one thing that i think should be on the table will be up to 2 ways . the, the new security conceptual going forward, which should be devoid of of private miniature companies, including one that was already inca adella, senior lecture and politics and international relations at leaves beckett university. we're now going to our dw correspondence funding. if a chart in riga, dw is reporting on russia from rica since the russian government shut down the w's most called bureau. funny, we just spoke about what african nations hope to gain from the summit economically . what about russia?

if you look at the different panels there with 30 of them in the next 2 days, you really 1st would think that this is a purely economic summit in some way where it's about usually about the trade about corporation agreements with regard to development. and of course, this part of these 2, they saw me too. but if you zoom in on that a little bit more and also look at the specific time when the somebody takes place, literally just 10 days after russia withdrew from the really crucial grain deal with, with ukraine. then of course, it has a very political meaning here for russia, they're basically looking wildly put for friends, for new friends on the african continent. because of course, it's not since yesterday that rush, she has an interest in having allies in africa. in fact, historically, if, if you look back in countries, for example, like south africa or on going over when it was still at the soviet union. so the former soviet union, a support of these countries in the liberation movements. historically, speaking already, there is a lot of relationship from the past, but now there's

a war in ukraine. so for the past one. yeah, of course we have seen russia being increasing. we isolated on the international agenda. so they are looking to applicants when you african partners. and i think that's really the main goal here for russia. and for us, just president, put in to make sure we can walk away from this summit by saying that he's not just saying because he's already of course are presenting this summit is a success towards the russian domestic audience. but also to know actually that he has moved partners apart from those korea for example, but also partners in africa. a. w was funny for char, in rico, and now to some of the other global business stories making news. and european central bank has announced a new 25 basis point re type reading it's key interest rates to 3.75 percent the if you begin this journey to tackle high inflation a week ago on wednesday,

the u. s. federal reserve also increased interest rates. oil firms including james shaw and to tell energies, reported sliding net profits in the 2nd quarter. oil and gas prices fell in the past 6 months. the development that follows record energy prices after the invasion of ukraine by russia, one of the world's heat energy producers. the international energy agency says global coal consumption at a record high in 2022 and is expected to stay at this level for now. according to the report, the coal consumption grew more than a 3 percent last year, surpassing a 1000000000 tons of such a strong demand from china and india. now some of that, coal goes into powering electric vehicles. in china, for example, for decades, china has been the biggest market for german car, brand folks button. but recently, local car makers are overtaking as folks. i'm is lagging behind in the

e v market. now it's changing years folks 5 and has brought in. it has bought nearly 5 percent of chinese e. v make are expanding. the 2 companies will develop cars together as the start of a german chinese car partnership. if you can be them, join them. that seems to be a fox walgreens plant making good deal with local maker ex, paying to happy turn its chinese fortunes around. the chinese conglomerate b y. d has not overtaken fox login as a top, sending bronze tanks to forks, loggins, weakness when it comes to electric costs to be why do sold nearly 548000 electric vehicles in the 1st quarter of this year with a nearly 70 percent increase us manufacturer tests not sold more than $440000.00 electric cars. in contrast, fox logging on the managed to set of 6300 the electric vehicles for volkswagen. it is becoming increasingly difficult to keep up with the electric cos vision. test

price competition is also taking a toll on the german altima to giant. more than 40 manufacturers, including tesla have cut the prices for electric vehicles in china. volkswagen is now attempting to contract this with large investments, but it appears that fox bargain will not do up that easily. the agreement with ex paying indicates that the german car maker is doubling down on the chinese market. earlier this week, the international monetary fund released the global economic outlook warning of slowing growth ahead. but there was one bright spot, india, which is set to grow more than 6 percent this year. that's more than any other major economy. according to the i m. s, the increase in indian domestic investment is here and also said the growth is set to continue in the years ahead. i'm joined now by the w's daily corresponding charo

card to k t r. what fueling india's economic success. it was a different expos, have different opinions about it, but the i'm a see you is that the growth is primarily being fueled by domestic investment. there's a lot of capital expenditure that is happening, in fact, in the us and government's data shows that investments rose by almost 9 percent during the january march period, which is also the period which the item of has looked at for its assessment. uh, there's a lot of infrastructure spending that is happening and primarily in sectors like roads and v ways. they don't have highways and expressed ways of being built. so uh that seems to be the primary driver of growth at this point of time. money taro. india recently overtook china as the world's most populous country. a lot of people are speaking about a demographic dividend also driving economic success. there. is that an accurate picture? well, that demographic dividend has become more of

a challenge now. i'm very given the fact that unemployment is, is that really high levels in the country does estimated to be upwards of 7 percent . in fact that a private estimates that's probably supposed to say that could be over 80 percent. you would find employment is even higher. it's, it's in double digits. so this is a big challenge, which would be the jimmy's to be not just so near to him, but a, but a long term medium term as well as long term challenge for the country. how to secure jobs to millions of youth, especially who are waiting for jobs of many factors, a head responsible for that. but that is something that is being highlighted as of now it's, it's a big challenge, a dw, as charl car to kay in delhi. and that's our show. thank you so much for watching for me and the business team here in berlin. you next time. take care the

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july 29th on t w. the is it the, the, the news line from silent? it's about a minute to turn off as african countries free russian drain shipments would replace the ukrainian expos, which is blogs. and he says, russia is expecting a record harvest also on the program is as military backs the crew over throwing the government president is fabricated inside his own palace and tweets that he will defend democracy. those 3 and later came.