or to several people. tales are wounded. that's all for now. if i stay with us, kate ferguson will be here after a short break with dw business. you can get your news. 247 on our website. that's d w dot com. and our handle on social media is dw news. i'm out of hamilton. berlin, thanks for watching the people in trucks engine trying to feed the city center. the straight pieces explain the around the world more than 150000000 people of we

of mine. because no one should have to make up your own mind dw, made for mines. the further flow to china is aiming property sector as one of the biggest developers country garden inches towards a default. we'll take you inside the empty sky scrapers, that one's in body to the engine of chinese economic growth. also coming off on on, comfortable truth. why the you is buying a more russian l n g, than ever before. to this the state of the business on k ferguson. the thanks for joining me. the crisis within china is property market is deepening as the

country's largest private developer country garden inches towards a default. the real estate side missed a key interest repayment on wednesday. fueling fears about it's longer term ability to pay back from $17000000000.00 worth of international loans and potentially leading to a faith similar to advert crohn's, which filed for bankruptcy in new york earlier this year. china is property sector tends for a quarter of its total economic output, but slowing population growth drop in spending of a government clocked on on risky landing practices, have loaners the sector into crisis. the result, individual home owners fixing on property is declining in value developers with more units, then they can sell it's a common site doing chinese sidewalks. these days, realtors, advertising apartments and self made signs. the problem, no one wants to buy,

like you've shown who an hours drive from badging. massive apartment buildings stands like concrete skeletons, 20 floors high. these apartments are supposed to be sold in 2020. some customers bought them as an investment, but only about 10 percent are currently used. the trains are moving construction debris is everywhere. buyers in china usually pay for their apartments before they're even built finance by mortgages. but now around 100000000 apartments. so standing unfinished, the end of a real estate public, that's up prices, rockets, sometimes double. now with the chinese economy in prices, the bubble has burst of the costs isn't of ending. our total sales have dropped to less than half of what we have seen in previous years since we've been construction successful. but these height is stock and stock in good hockey. the relisted sector

accounts for a quarter off the chinese economy. no wonder business there is highly sensitive. we're on our way to find out more. when the police stops us, we have to show our passports and answer the questions. that last we're allowed to proceed to see some finished apartments, the owner so desperately trying to sell them before prices drop even further. real estate as an investment is no longer attractive. each 40 percent of all the apartments used to be bought as an investment to dates only 20 percent. the rest, just for owners to live in confidence and the sector has evaporated as china is struggling with a weakening economy so much that the country is being seen as a risk for the global economy off wednesday. and is here in germany to we will feel the effects of china no longer importing, like they used to fund out china doesn't need to fear an outright recession. and yet, the consequences of the realistic prices of the social fabric of china are hard to

for see now to some of the other global business stories making news. the e u has launched a proven to social media giants mess on tick tock, seeking details on the measures they've taken to combat illegal contents of this information off of the mazda top on israel. the investigation is an application of the use new digital services law. similar pro is underway again, social media platform x formerly towards your to stay on topic building their entrepreneur at most cost denied reports that he is considering pulling x from the you. that's after reports and business inside are suggested. he was open to removing the platform from the block due to regular treat pressure regarding the spread of this information. netflix has increased subscription prices for customers in the us. britain on from the added income will be a further funds to the company, which posts is better than expected growth. thanks to a crack. then on passport sharing on the study flow up new programming in the last

quarter nokia is to come up to 14 size and jobs as part of planned to lower costs, following a plunge, and 3rd quarter earnings. to finish telecommunications company play and slowing demand for 5 g equipment and markets such as north america and europe. earlier this year, and lucky is rival erickson and those plans to layoff $85500.00 employees. since the beginning of the war in ukraine, the european union has radically reduced is in 4th of coal, oil, and natural gas from russia. in fact, the block stays at the goal is to eliminate all russian fossil fuel in ports by 2027. but there is one, a glaring exception to this trends liquefied natural gas or l n g, which the e u has been enforcing in record volumes from russia to don't use duct power report . an embarrassing sight to the

e u. the block is rushes biggest customer of liquefied natural gas buying of a half of the country supply in the 1st 7 months of the year. that's with over 5000000000. yours potentially sustaining the kremlin small chest or rush rates means that european union and countries which basically are purchasing a russian gas. basically they are helping to finance of russia budget. and at the same moment the finance rushes, aggression and, and, and, and war against you. great island g is natural gas, which has been turned into a liquid form to be transported around the world in ships. rather than dime pipelines. it's $600.00 times smaller in volume. most of the russian l. n g entering your events has ports in belgium, funds in spain, but it doesn't all stay in your at the cargo is moved from one she but either to

another shape or to a store of side in the border. and then it is saying that these bunch the some whereas the either you or the or towards the asian markets or. ready or the middle east that it depends how much of the gas stays in your so, and it's delivered to other e you, nation's pressure has mine to don't your a p and ports terminals to stop accepting russian l. n g impulse flexi use which runs the terminal in belgium. zebra good ports told dw, that based on a principle of open access is an essential service. meaning they can't legally deny any client access, even russian shipments who has already sanctioned invoice of russian oil and coal, greatly reducing the quantities coming in. i suppose we've spoken to say that in television, you decided to sanction gas. those impulse around likely to get done in brussels. the european commission says it one's ellen g purchases from russia to end besides

the overall gases island g. i'm pipeline full time from 40 percent before the invasion to 15 percent. now, you know, some companies are tied into long term contracts and we've encouraged them to, to bring those to a close as soon as possible and to not renew those. um, so yeah, i mean the political message from the commission is very clear, the sooner we can get rid of the russian island g impulse, the better. but that will take a little bit of time. so the you have celebrated, the fact is managed to get gas storage to 90 percent with the winter coming, but a chunk of that has come from russia to talk more about this. i'm doing that by carl nacley assigned her and ceo of crystal energy, a consulting group. she's joining us from abu dhabi. how i want to understand dispatcher, how important is ellen g for the you in general? i and she has said to you from it'd be cries is not here because they use

additionally used to rely on the lifeline gas, which is a very rigid infrastructure because it's con, next one supplier with a specific point that is the customer but and she gives big stability to boys that she's a producer, as opposed to him because she wasn't the case of the used to in the crisis happened last year and rush, i caught up with supplies gas supplies to do that, you buy price more, we found it and she said, the day yes, price has increased, but was that price signal that was necessary to attract these additional supplies? and then she, and towards the end of last year was still and, and she said curse queuing at some quotes in europe to the liquid, 5 natural gas to very important market. that is it you, so i think was out and then she would have seen the price is much higher last year in europe. and because it would have lasted much longer are okay. so we know that l m g is really important to the right. now what, what site is it 2nd largest supplier after the united states, given that the,

you does have a big and reliable supplier in america? why has it been buying more from russia? what to do used to be and important stuff going on. natural gas to do that you of course it's changed so dramatically between 20212022 says why are we in a box on gas shrunk a lot? it's amount was able to compensate for the southern expense by and, and she now of course you might say why was sent by a and she, at the case or to the needs of the local market. and the difference between images and 5 thought is that you can get it from different sources, but you have to dig into cause duration. what is available out there. it's not easy to open the top and close the top and establish some of the ship and then she to a market. so most of the energy that use to trade it today, it's usually contracted between the producer of the customer for many years to come

with me about 15 years or 20 years. there's a smaller portion of it, and she, that this ties it without this number to the contract. so the cost spots and she and fuel may or didn't have, that's for energy at the u. s. as the main wants, but very few around the end. russia is stepping in to take advantage of this mitsubishi that, that, and she is given to europe and the need for energy in the u to tell nato of crystal energy there. and you can watch a longer version of my conversation with her on the dw news, youtube channel. and finally, sport utility vehicles or s u, v. 's have a reputation for being a mass of golf customers. but perhaps it doesn't have to be that way. take a look at this. students as idaho university in the netherlands have created an off road vehicle entirely powered by rooftop solar panels. the one size into columbus are test drive across morocco was completed for the out. the vehicle happened to

flows in one with a top speed of a 145 kilometers per hour. this stella, tara, is the world, 1st off road. so there via the reminder of the top business story. we're following for you this, our china as largest private property developer country garden is entering towards the diesel real estate. so i missed a key interest repayment on wednesday evening, sir, is that it won't be able to service any office. $17000000000.00 foreign on that rob. so if i show for more, you can always check out d, w dot com slash business for on the dw easy tube channel as well from me on the entire business team here in berlin. it's by and take the

into the conflicts with sim sebastian, big smoke getting the headlines these days, but the warning ukraine has lost none of its intensity. probably a few ideas. capitol hill, hughes, my guess is the prime minister as the world goes on, how much space does she have in nature plans for defending the voltage space? conflict next, on d, w to the point, strong opinions, clear position or international perspective. the us is under the lot of pressure with fighting going on, the main line drive of china is busy expanding it sent to him. so to the point we are all on this frame. how many your contracts come to us? copeland, the distinction we are all set and we'll,

what seemed closely we all seem to bring you the story behind the news. we wrote about unbiased information all 3 months. the, it's not getting the headlines these days, but the war and ukraine has lost none of its intensity with both sides anxious to make games before the winter impedes their movements on the battlefield. from the if you, i can use capital vilnius. my guess is the problem. is that in good that she money say? what i think is the most to show is that countries stay committed to providing the brain with weapons with needs the financial positive needs. but everything needs the when the war as the little goes on, how much grace does she have in nature of plans for defending the baltic states. what about human rights? so that gives a.