all foreign tourists after wildfire as whites out almost all of its force is the state of a business tunnel box invalid. welcome to the product of germany's economy as expect to shrink by as much as half a percent. this yeah, according to analysis by the institute of the german economy, the export relying nation is suffering disproportionately as a result of global events such as the war and ukraine and slow demand in china. economist estimates that level g d p will grow by 2 and a half percent base. you had a full percentage plane less and last year and the japanese economy or a ton to the size. it was at the end of 2019 a sour photographic. canon joins me now. german is down to and is looking difficult to shake, isn't it? how's it ended up in this position? well, germany's great strength is also in some ways. it's great week this the fact that it's very much an outward looking economy is very heavy, reliance on trade, very heavy reliance on exports. which means that when the geopolitical situation is

difficult, as it is right now, particularly since the rushes invasion of ukraine is particularly prone to the global market slowing down. so it's struggling with that. it's also very reliance on emerging markets, particularly china. it's relations with china are very ties and the chinese economy is growing quite slowly at the moment. so they're really suffering from that at the moment. there's not a lot to do any can do of as a lot of do you have let's go stuff is going on, but the what is the government trying to do to get out of this down to what it's looking at various options. i mean, one thing it's looking at and which is which, which is a 9th today, was by old shots by the chancellor of charles is $7000000000.00 euros in tax relief for companies. that this is in a way to try and kick start this industrial sector. it's focusing very much on energy intensive industries on the, on sectors that would use admin clever use of energy. so it's trying to look at different ways that account within germany itself. to help make that streamline the situation, improve the situate the tax situation for companies. and then help boost exports

and, and ultimately bring the economy back into a better position. okay, click again and thanks a lot for staying across this. and we'll keep watching developments in the gym and economy, of course, as the yeah, cuz now let's take a look at some of the other big business stories making the news a hyphen. i says it's launching a business version of chat, g p t t p t enterprise will offer customers special products like faster speeds. that release comes as chunk g p to struggle to maintain the excitements that made it the worst, fastest downloaded app in the weeks after its release. call make its way over to our suspending production at all of its 14 factors in japan. so i think a technical glitch was biggest comic and was trying to find the source of the problem number said it does not appear to be a cyber attack. unlike the hack that course, the company ship to shut down production last year. chinese comic

a b y d has more than doubled his profits in the 1st of the year as despise an intense price. well that's re have it on for an automatic is like tests are in volkswagen. price wise, also back to the smallest startups in the world's largest. com market. and australian work is it to liquefied natural gas. plants operate to buy chevron. so they plan to go on strike after weeks of failed negotiations of a pain working conditions. the 2 sides produced 5 percent of the was ellen, g. a, strikes could drive up to the level of prices. you know, saudi arabian football teams have spent at least 750000000 yours vis some searching into the ranks of the biggest spend is in global stuff. countries suffering wealth funding has taken over the top of a 4 top teams. and this out in front of me is splashing the cash to attract top talent. world famous players including 50 on a rinaldo carry benjamin and gold. come take off already that earlier this month.

saudi's biggest stuff out loud spent in high watering, $90000000.00 to develop resilience, cheapest on name. i'm going to discuss this by my colleague also sullivan. he's been looking into it for as also just put his spending spree into context for us because it's not just about improving the, the saudi domestic league. is it now for a number of years now? rob saudi arabia have been deeply invested in a very large, multi 1000000000 dollar sports investment project. so obviously you've talked there, but football, it extends to golf to cricket, to for me to one entity to east sports. they've been heavily invested in gaming and outside of entertainment. but if we look at how they've sort of disrupted the sports and how they've disrupted the commercial landscaped off of them, just take all this is a very quick example for the setup their own rival tour live golf used huge sums of money to attract players from the long established patriot or, and have ended up disrupting the game so significantly that there is no emerge or between the 2 tours. very controversial currently being legally challenged in terms

of football. obviously, over the course of 2023, the saudi pro league has just been blank. there's left right and centre. christy on rinaldo name, our host of top level stars, and they've been paying huge transfer fees and also huge wages. and of course, has transformed the transfer markers in terms of europe. that means that floods are getting huge sums of money for players that are now not necessarily worth that money anymore. because in some cases and they're misled tardies so huge. the transformative effect of the saudis billions. really because you're talking about 67000000000, they're estimated to expand on sports over the last few years is having on the global sports industry scan. if you're into sports, i mean, you really kind of missed it, right? they've had major bulky matches that also so but, but savvy says lots of this is about helping it's diversify away from oil, which we know is something that has a major problem for up until 202030. i think it is. um, how probably the claim is that that resolved is um, one of the key reasons that isn't data be true. i mean, if we look at the figure of mohammed vince on, so he's the crime prints of study arabia, the son of the king. but on delta v,

i'm literally the power behind the throne amount in his thirty's will probably be effectively running saudi arabia for many decades since he sort of became to power as it were. about 7 or 8 years ago, he made this big project vision 2030 diversifying decided economy away from lawyers . because as we know, close to half as g d. p is from or more than 3 quarters of exports is always what those need to, of course, diversify. and that is true. they've been focused on a lot of things that don't necessarily grab the headlines like mining green hydrogen. but the more headline grabbing stuff is the entertainment sector, tourism, and this, of course, a huge sports investment project. a lot of it is a domestic project. they want to change the domestic side of the economy, increase consumption, the very young population that do genuinely loved their sports there. and so he sees sports as a way of, of appealing to this young population of making sadie or it'd be a more attractive destination. a more attractive place to live, but of course there is another big side to this rob this we have to look at and that's about the, the foreign and overseas image of study rep. indeed sports washing as they call it . so how much of this is about just improving saudi arabia's image?

i think a huge bar. so i think what's important to, to say is to the context in which this is happening. so we see what's out. he already has done with football. and one thing that i didn't mention was the purchase, for example, of new costs. the nice is a major premier league sold in the north of england essentials to half a 1000000000 there over the last couple years. and so for people who are maybe sports funds and, and watch these teams like new costs united or are meant, know, following the saudi, probably think they need to understand the context in which some of these things have been happening. so said he already has an appalling human rights records, and it's gotten worse over the last 56 years under ben simon, for example, x, the cushions. i mean, women's rights, for example, have improved in the country to some extent that women are never allowed to drive, but it's coming from an incredibly low base. so that's the context in which some of these things are happening. and then there's the murder of the journalist, or malika, shogi, brooklyn, murdered in 2018. and the side of the constitution is simple. and it's important to say that the united states intelligence serves as i've said, my haven't been so i'm on the evidence all points to him having directly ordered his murder. so these things happened. saudi arabia was and has been

a pariah. and then all of a sudden, all these things start happening with sports data. the improves the country's image of what's important say about sports, watching rock. very brief is it works. we saw with the world cup and guitar last year, and the lead up to that guitar had all sorts of allegations about the treatment of migrant workers. k writes the corruption, the let's with getting the tournament. but yet it was a very positive event. people and i was sociate that with the tire i, likewise people are increasingly associating saudi arabia with rinaldo name or profession football entertainments. and that's, that's the reality of sports watching. yeah. and then we have seen funds willing to overlook these things often. sullivan, thank you so much for talking us through it. have a great island of area is something of a hidden gen 4 and torres in particular. however, in recent years it's been the victim of devastating wild fires like those that we've seen in roads this summer. have to most of the areas force will destroy the island, is in need of a thirst. so it could overseas travel is the key. early morning,

ireland shut to the 1st coffee is our opening in the background area moves at the laser, the price as low widens without the master's. i gave you a quick any. i said it's great to hear from an a as well as for young people that through natural beauty that doesn't lag behind the other i'm and as in nancy ocean, i thought i'd know more of yes and people are looking towards the future and more and more greek tourists are supporting of the navia because 2 years ago they were severe fires here with almost 80 percent of the forest being destroyed, and fires are flaring up again this summer. therefore, abn needs tourism now more than ever, especially since the island has more of an inside of tip, and nowhere near a school printer, a say, a creek or rugs miss significant, almost nature has to recover from the firestone. it's on the bottom, but we are trying to support macos with a programs. and what is most? most of them are they?

but the tours here prime literally come from the greek mainland. they loved the island smallness and quiet that hardly any for interest. tabitha hotel, owners like marley rushing for just that v as in i can do to for you. then we're actually satisfied kids. and we would like to have other tourist from outside greece and left and the longer season and get his visual. maria in the rest of the island, which is for the same she was born on navia and it's closely connected to her homeland. and she's been running conference here for decades and for the past few years, the speech box, great thing has never been an option for the 60 year old. that's in nevada. we've been suffering from the fires for a long time, but we try to keep going. i still see my future here as positive and we also convey this to our guests. as a rule, they support us and we're looking forward difficult. um every ad therefore won't be easily discouraged and it's definitely worth

a visit. the just talk for a lot of the top business story that we're following for you this, our gemini is economy. is that to shrink by as much as ha, a percent this year, according to the institute of german economy. analysts estimate speak, let that play with g d p will go by 2 and a half percent this year. i'm not your biggest economy over time to the size. it was at the end of 2019 and i saw from the end of business team here in berlin from all you can, has a d, w dot com slash business. so you can find this on the data in use youtube channel. and if you wanna get in touch, you can get it facebook as well. i'm fine. does that need to be? don't business until next time. the

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75 minutes dw, but you know, here we are happy that we are boxing the story. we have a getting a visa is more difficult than finding gold hosted to use the dream force. and for the future feelings about what's going on in the industry. instead of being discussed across the continent, d, the news africa every friday on the w of interest in the global economy, the report folio dw business b on here's a closer look at the project. our mission to analyze the flight for market dominance. east this is west with dw

business beyond the business b, w, news live from valid and an international outcry over repressive anti gay legislation. and you've done that and i am charged with aggravates into homeless x rather. you could face the death 10 also coming off thousands older, to leave the homes and northeastern ukraine. russian forces step up and tax on cities, including commissions in an attempt to re capture terry to the territory they previously occupied. plus the german government announced

a $7000000000.00 euros in tax cuts to boost vehicle.