progress, the use economic future is on the table at a meeting of finance ministers in brussels. the major impact of the boy in ukraine is still hanging over the summit with securing energy supplies and timing inflation . still key challenges, but the point of difference between member states is the future. the blocks fiscal rules there were suspended during the pandemic allowing some of the states to 4 deep into debt germany that was among those calling for strict targets for debt reduction. let's go throughout correspondence at the meeting of the finance ministers in process christine mum, do i? thanks for being with us, christine. so why all these fiscal real experience? are you such a controversial topic over that? well, as you, as you say, rob, they're due to come back into effects also being suspended due to the current devised pandemic. these rules also come back next year in the time that these rules have been suspended. we have seen, even fiscally conservative countries, like germany go out and take on huge amounts of public debts in order to roll out

these big stimulus package that we saw countries roll out during the pandemic to steal their economies through at that difficult time to, to shield households and businesses, the sense is now that people need to come together to, to get back on track as it pertains to, to budget rules. this, as you, governments are also expected dropped to be financing technical time to change, for example, which implies more borrowing. so the understanding is that let's, let's get back on track as it pertains to those fiscal rules, making sure that we, we, we stick to, to the rules as they are, because another crisis could come and we need those buses. indeed. so where exactly do the differences lie between member states on this issue? so rob the titles as, as they are states that budget deficits must not succeed, 3 percent of g d p. that shouldn't exceed 60 percent. this is not being put into question. the issue is when countries have to reach these targets. now the commission for its part has said, we have

a lot of have any and this with countries at the bottom it's the commission would be happy if it could see any amount of that production of a period of 4. yes. but then you've got countries like germany who say, no, we need benchmarks. we need annual targets that everybody's got to meet this for example, has put germany at loggerheads with withdrawn. so it takes a different position on this issue. so in broad terms, it appears that they've come close to in the sense that they agree that okay, that has to be some benchmarks. so to say landings, lindsey will hear some e officials say the issue is what numbers they come down to. and of course, the pushback from certain members states, particularly the highly indebted ones, would be it's sounding like, well, serious it's sounding like that you use going to target certain countries. why don't you? but they certainly the member states pushing for, for most strict benchmarks, like germany would be targeting the they have an end date of countries and imposing will, stary, 2 of them. of course, you can imagine that that would droll, pushed back from some of the states. this is a debate that was going to come to my so whether there was a war and you cry. no,

no, but there is a war and you train it continues to live lodge. i have a, a you economies a say. now what is the finance ministers had to say about what's going on ukraine and his impact on the block? us? well, the understanding that we have, and we, this is what e officials are signaling. so us is that they are not too concerned about the fiscal situation in ukraine. that is important because the european union has not yet agreed or approved on more funding for, for ukraine. going into the next the, the commission has made a proposal to top up the east budget. it's an in that is included a $50000000000.00 a you're a package for ukraine to fund the country for the next 4 years. that's not yet been signed out on. and until that is agreed upon, and of course, we still have the rest of the as one e official said to us in a briefing that we still have time until the end of the year. but the sense that, that there isn't a new agency because ukraine can stay afloat essentially and going into into the coming yet, we might see an extraordinary meeting. but the point is e u. member states have not

yet agreed on that package. and so ukraine's funding is inside of it until that entire package is agreed upon. we don't have new funding for ukraine being announced if we don't expect anything conclusive today, particularly looking forward to 2 other meetings that it's possible that finance ministers could come again for a special meeting. if 30 all right, christine menda and brussels. thank you very much. i, i was take a look at some of the global business stories that i'm making the news. after months of discussions, the german government has agreed on a relief package for the manufacturing sector moving through temporarily cutting, cutting cuts on electricity. the relief is project is due amounts to up to 12000000000 yours. next year, learned german companies have been struggling with a search and power prices and made rushes war and ukraine. china slipped into deflation in of tell you about highlighting how hard it is. but the aging to pump up growth through domestic demand can see what the price is in the world's 2nd

largest economy, jumped to know point 2 percent last month. the national bureau of the districts reported list site factors such as a high use unemployment rate as something housing market. and we can see in the confidence hollywood act as of reach a tentative agreement with major studios results. some months long strikes the 3 year contracts in place increases a minimum salaries. i need bonus, paid by streaming services protection against an authorized series of images generated like most efficient intelligence just for longer. now where the us is to invest more than half a $1000000000.00 and a new container terminal, the project is being built by consortium led by india donald group. it's right next to a similar chinese run dog in 2017 to blanket was unable to repay a chinese learn and allow paging to take over a port on the 99. your lease for like a occupies a key position along the busiest shipping route,

cleverly connecting the middle east and east asia. i've been getting more on this from daddy correspondent, cherry coffee k. i asked him why the us was so interested in investing interested i can make this has both counting china's growing influence in the asia pacific region and more specifically, specifically countering china as one bed, one road initiative. in fact, the dsp which is giving this loan. it says was set up about 5 years ago in response to the one bed one road initiative. now boats are a critical infrastructure area is especially in this region. and china already has to be making inroads in this sector. for example, for link i has already leased the c port on the southeast and goes to china, which india was also they worried about. so it looks like uh, it serves in both us as well as it goes, interests to counter all of that. and the deepest part is majority. and by the enormous indian multinational donnie group, other people will have heard about don,

agree with over the past year or so. not necessarily in the, in the best light allegations of market manipulation against or no go some, a donnie will things like that be where they have been a consideration to the americans. well, i mean, it's clear as of now that these allegations against it on you did not matter for the us. a told, in fact, that on the board has already given a statement describing this loan as a ringing endorsement of the identity group. kutner, donnie was at any point, chief executive. he said in a speech, us today in colombo, that the financing is a reaffirmation by the international community of the attorney groups, vision and capability. so the dining group is definitely very happy with the announcement of this loan. even as the investigation into so many allegations against the dining group, those the investigations continue. uh, the authorities in india and also uh the investigating these allegations,

but uh those allegations are yet to be approved. okay. it's our cost. okay. that be for us. thank you very much. i. it's just staying in india motor ball payment systems have taken the country by storm. indians can now go about that business with no cash in that pocket safe. in the knowledge that this they'll probably be able to pay for anything that they need. that's something that can be said for countries like air in germany, other, but everyone wants that to change at the grocery store park, getting a snack, but don't have any cash on you. pay did silly. it's no problem in india or the stuff either. yeah, the main advantage of a digital transaction is that we can send money to anyone anywhere quickly on them . secondly, if i don't have money, i can make a payment by borrowing from online credit banking. if you have an account there,

the top dogs in india pay t m with its headquarters, annoyed on now is over $30000.00 employees. they're active in india and have already entered into their 1st partnerships in japan. and they're conducting research in canada, paid tm, spread quickly because the app doesn't need to be connected to a bank account with pay team. people can simply load money into their virtual wallet on their cell phone and pay. currently 90 for a 1000000 people in india use the app every month. the india is a very unique story in terms of where the, adopting just an ecosystem. india has highest number of payment transactions across the wire. so it has beaten off a neighboring countries where they're just china or some other big countries. and what about germany? it's far behind when it comes to digital payments. at the weekly market in berlin, cast still the number one form of payment travel with my boss,

i only pay cash. so what do others care about my account number. i just use cash flow is that that's typical for germans. according to our research institute, 60 percent of customers in germany still always paying cash. so most retailers on the market don't even offer card payments. a joint digital initiative of the european union isn't as infancy. the digital, the euro kind of uniform digital payment is to be introduced by 2026 at the earliest. so what kind of europe learn from india in terms of digital payments? in india, it was the government that set up a central infrastructure. the all transactions run through at the time, to the displeasure of many indian banks and europe. banks are currently blocking a digital system for remind off the top business story about we're following for

you this our, the finance ministers in process of discussing the future of the blocks fiscal rules. they were suspended during the pandemic allowing some member states to fall into debt amongst heavy weights, france and germany have been at loggerheads to prevent house districts those on retained should be and so for me and the business team here in berlin from what you can always have it with the data we dot com slash business, so you can find more of us to find the domain is youtube channel and we're also on facebook as well. we're on there is data we don't business. so go to them and say hi to us until next time because the,

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. this is dw news line from the wi fi says israel has agreed to oppose that pause of fighting and gaza for 4 hours each day. both as news agency also before fresh, told some of the possible release of hostages, held by her boss, female thousands of little pumps paintings and leaving their homes in open gauze. israel says how mass has lost control of the reach. also on the program, jim and chancellor old off shelves joins buildings, jewish community team members who are not super tall groups of november 1913 on the americas to.