the rebels' tests are cilia r t london. still ahead greece gets another fix of bailout money from e.u. coffers total almost six billion euros but not only does it tatted economy. that comes with it has been listening to drug addiction in the country. of the presidential election. talk to locals about their way of dealing with the left by war those stories still ahead. first we have a chance to get updated with the latest financial. and new program venture capital . from. reverberates through the centuries when. hanging on this member. faith in the

caucasus. from generation to generation killed my son with impunity. with impunity there was a question of. today. more news today. these are the images. from the streets of canada. today.

that welcome to venture capital with me. well we're going to be discussing some of the i think it is this new stories find out what's been very good shaking the global markets corporate news coming up and really it's these are going to jam packed to say that we're going to get stuck in and talk about china because the world's second largest economy is in setting off all kinds of alarm bells this week it's now on track for its poorest before most since one thousand nine hundred ninety eight after growing at an average annual rate of just under ten percent for the last thirty three years the latest figure of seven point five percent is causing concern is the news we didn't want to hear from china or is manufacturing sector the backbone of its economy continues to slow more signs of weakness in the

world's second largest economy we've got an economy which just isn't slowing version of our economy that's collapsing considering parts of europe are dealing with flatow even negative growth right now why all the fuss over china that we're fuzzy let's take a look at what some point five percent of china is going to be actually equates to well it equals the whole of switzerland economy one of the wealthiest economies in europe so if time is growth was to stay this way the country would be adding the whole of the switch the quantum way to its balance sheet every year or three graces if you put it like that even so is a seven point five percent such a disaster while right now i'm joined by a say have formal morgan stanley chief asia pacific economist joining me from hong kong today so can you tell me what you make of this seven point five percent is it such a disaster well our finger china is going through our necessary phrase of adjustment rebalancing the economy over the. last a five years china investment too much

part of it to support of the global economy because of the financial crisis by the investment has led to overcapacity saw there is a needed to a skilled backing vestment right maybe china is a victim of bubbles perhaps after two thousand and eight. the western countries cut interest rates dramatically so the high money started to flow to flow into the emerging economies and china due to receive a lot of hard money my my characters will be sickening signature in more than one train us dollars that are part of contribute to these real estate a bubble in china and it's part of these over us in a story now as it is the western countries preparing to tighten monetary policy in particularly when i stage so we're seeing our hot money leaving china and other

glory days that's a time when i think. people used to be very bullish about china ignoring all the problems not the old becoming very bearish or thinking that their china's growth is over i think of these are wrong and as i pointed out a before that china had a bubble and needed needed to go through adjustment now and i think that it's you we should not be. writing china after china's per capita income is only six thousand us dollars and it's got a lot of side the chinese people are very productive and are probably the most of what productive people in the world today and consume and there are so little solar there's a lot of other side of potential i still believe that a china will reach twenty thousand u.s. dollars per capita income by twenty thirty and that will make china the largest economy in the wall. and moving on to the ukraine because right now the excess the country is still in between two trades now as you can see. see

stuck right in the middle just ukraine it faces a choice either go for the free trade zone or join the customs union with russia now if you crane chooses to go west words it would become part of the biggest trade bloc in the world but the question is whether it will be worth the country would be expected to spend money in order to me european standards for him to structure the environment and the quality of their goods plus ukraine enjoys or even gas discounts due to their close relationship with russia if the country enters the e.u. then they would be expected to pay the same price as the rest of the e.u. countries now trade with russia is expected to decrease by up to two billion dollars on the other hand is the option of joining the customs union of this will be the trade with the e.u. at the same level that it is now at the same time boosting exports to russia up to

ten billion dollars annually so economically the situation seems pretty clear however politically if you crave it is ready to pay the price it may join the e.u. club for better or for worse. thailand has become the first country to be in the big oil it's now illegal to use a virtual currency after the central bank declared that it's not a currency this is the latest blow for the big the pay to pay cash system alternative to traditional currencies have had its fair share of controversy since its introduction four years ago according to an online statement by the ruling came after months of meetings between the company and thailand's essential by the time justified their decision stating that the ban is due to a lack of existing. laws capital controls on the. struggles of

multiple financial. fasces which also is rather complicated really so we've got an expert to break this down for us right here i am joined by christopher hall well from the skolkovo business help us hi christopher atsic you tell me a face the beginning of the end for the big coin no not really i mean money the things that put coins said are in fact exactly correct in terms of why it was bad and in terms of the problems the difficulties it's having in thailand it's not really that it's banned per se it's that thailand isn't i don't want to say advanced but it's legal system really isn't sophisticated enough to deal with what bitcoin is is the end of every action by thailand well no i think it's an overreaction from the way it's been reported including by bit coin ltd the company that sells that x. and exchange for bitcoin in thailand i mean the central bank of thailand really doesn't have any authority to ban currency or to ban bitcoin per se he does have

legal authority to deal with the exchange rate movements with capital controls as bitcoin mentioned and with things that could impact the exchange rate of the body so right now what they're basically saying is we need more time to study what bitcoin is and if it has an effect on the thai baht on whether or not it's going to affect the exchange rate which is what they're really concerned about do you think there is now a faith that other countries will follow suit that way investigating the current seymour oh of course i mean that's that's always been the worry about bitcoin it going was great because it was anonymous it's not backed by a central bank it's comes about from this computer algorithm so it's a really good alternative to central banking it's an alternative to normal monetary policy and obviously governments are threatened by that central banks are supposed to have a monopoly on the currency that's the whole hallmarks of monetary policy today so. are threatened by it governments are threatened by it and there will be the. it's

kind of ongoing investigations. and now time for some corporate news from hey in russia them russians have been going mad from a sadie's with the luxury vehicles latest offer and selling out just three months russian sells were up twenty percent in toto. russia's. jess with first half profits decreasing by over one hundred percent plus russia's gas major gazprom has announced it will supply more natural gas to europe this year having already increased supplies by ten percent but despite the increase to ma and gas problem is still set to do a ten percent decline in profits overall. this week has witnessed the collapse of the world's biggest fertiliser cartel sending shock waves through the industry pushing down shares in protest produces world wide by around

a quarter panic has been spreading on global stock markets is the russian giant your account he decided to pull out of a joint venture with its bellary space partner bellerose kelly in the agricultural well this is the equivalent of saudi arabia dropping out of opec and this could all result in lower food prices because farmers will pay less for their first eliza to grow their crops and pulses discounts on to the consumer at the checkout also this could mean an increase in the size of crops so people will get to enjoy a bigger soybean or less. russia could soon welcome a budget airline air a floor russia's largest airline is flying to offer flies to savvy savers as early as next year and our customers could be snapping up tickets up to forty percent cheaper than traditional allies as it stands russia doesn't have a budget airline and flights are much more expensive than elsewhere for example

a flight from moscow to davis stock in the far east of russia such a domestic flight is twice as much as the cost of a flight from moscow to new york different continent but while there might be a gap in the market the problem is budget airlines have a history of failing to take off now to a low cost airlines even over and sky express are two examples of this both companies folded in their quest to do so so now i'm joined by the founder of a vienna over we've got pine just here to give us the lowdown hello there are thank you for joining me tell me i want to get an idea as to war era for up to what is the thinking behind this because why don't they just reduce the prices of their flights why. a whole other airline ok.d. i think if they simply ricci's prices they go out of business for a c. so i think the logic here is to create a unit which will be operating on a low cost basis and then to pass those costs on to the consumer. why are they

doing it now i think is as you've said it has been a gap in the market for two years they're seeking talking pilot space but they're also facing very sharp competition now from foreign low cost car is coming into russia we've seen easy jet for example stop flying from from london to moscow so i think also there are flawed or trying to some of the locals critics in order to enable them to compete more effectively in the in the overseas market as was a domestic market and is it all about stamping out competition in terms of the russian market i don't think isabel stomping out competition i think you know the basis for a low cost airline is that you grow when you market to encourage people to go from coaches and from trains on to planes so i also i would say to be charitable it's about growing a market as a consumer if i'm going to buy a ticket and i see that air flow are offering a certain price then new but to add line offering another much lower price i'm

going to go for the lower price is still a hard concept to understand if you think that the brand of ara flights could be damaged as a result i think it's risky i am also sure the brand would be dumb age but you're right to raise the question because we've seen i don't know how many fifty sixty seventy examples of foodservice airlines trying to set up low cost airlines. only a handful of been successful because what normally happens is that a local star along becomes too successful and it cannibalizes the parent company prime example would be british airways. which we saw fifteen years ago but you know there are numerous examples and i think this is the real challenge that arafat will have to face how do they give room for the low cost airline to develop and be successful but not give up their call box so it's a lot that's a challenge that they will definitely help to to overcome well i think at the end of the day the anywhere now in order this can be they can see us i absolutely for

one of them say it work out thank you very much and what you have your time today what you find just i'm not so sure the time we've got to venture capital for this week thank you very much indeed for oil company i'll be back same place same time and next sunday so i'll see that. i've got a big question for you how stupid get stupid terrorist paranoia get according to four progressives dot com the texas department of public safety demanded that any women entering the state senate hand over any tampons or pads before entering wow so why would they do this are they really that scared that some terrorists are playing a sneak a bomb into the place.