transit state as for europe i mean again it has its own supplies doesn't it so should it be concerned about true it does have its own reserves but it's really hard at the moment to ask the mate how long these reserves will last for some of the nations again what's worse this week of the world bank asked to meet at that if you create is going to be cut then eventually for some of the countries in the european union the price for gas will soar and in some places by up to fifty percent and we're talking about non bearable situation a bit of a disaster for some of the industries as most economists in the european union as you know are still very fragile especially after the global financial crisis and we need to take into consideration that their own production is declining year after year so now we can clearly understand why you are up is so panicking over what's

happening in ukraine at the moment and just to have a closer look at what stalling this negotiations have a look at this report. still no deal despite concession after compromise after concession. for she understood we were numb proposes the russians offered to reduce the gas price by one hundred dollars a so-called discount on those cute and so they did a lowering the price to three hundred eighty five dollars per thousand cubic meters which is roughly what european countries pay for russian gas what's more moscow is ready to guarantee that trade for increase in year and refereeing the e.u. found the offer fair. i believe that three hundred eighty five dollars is a reduction and it can be considered a reasonable but with some people you give an inch and they take a mile and we support the we pay the price that we consider is the market rate and

that is two hundred sixty eight dollars for a thousand cubic meters or so it's a bit of honesty ukraine had a you know have been offered a very generous discount on this and yet they still want lol and it really is quite incredible that that the chutzpah of the ukrainian government is i don't think any amount of this got ready will satisfy ukraine their support for fight it however key of stubbornness may not be rooted in what it needs but what it wants which could well be profits. if ukraine wants to receive cheap gas and resell it basically making money using russia it's a very odd positions. another stumbling block what to do with ukraine's foreign a half billion dollar gas dad to russia. ukraine that the gas is not going to pay his debt to get from until we reach a package agreement by his occurrence because that only the strategy of the

ukrainian side is outright blackmail according to kiev a deal can be reached only and exclusively on ukrainian terms russia's gas problem . for to save the day or at least offered a huge saving pay half of the debts and get a twenty percent discount on the rest otherwise ukraine would be switched to a pay in advance system russia needs to make sure that ukraine is paying the market price no ifs knight bought. the market price as an upper country does. so far the quarreling sides have failed to reach an amicable solution effect teaches kids practically ukraine's acting prime minister has scuppered the talks from the start ukraine took no constructive steps made no compromises and apparently wants to maximally aggravate our gas relations. which may not be says well with european pardonnez the

ukrainian government is being intransigent and also putting the people of europe at risk that's why the e.u. is actually cautiously supporting russia's position at this time by with monday's deadline taking average close at hopes for a breakthrough a slowly fading away and in the question moscow. weeks business news is coming up next hour with katie pilbeam and i'll be back with will world news for you but if you're in the u.k. you can learn about tonight a huge role in the breakup of yugoslavia. so . i can now make records for. her for her sake i think.

it's in our. hearts. what if the republic was like st. louis. i. think. i. i i i. thank. you. this is a red capital the world cup kicked of this week in brazil and instead of crowds of sounds we've witnessed crowds of protest because of the cost we'll take

a look at what happened to the economy of south africa the last host country plus the rich continue to get richer we talk gender pay metals until the end of a tie so fast that world cup fever has arrived and despite the fact that the host country brazil is predicted to win the tournament not everyone is excited there's been violent protests on the street because of the cost to host the event the most expensive in history the majority of brazilians resent the fourteen billion dollar price tag when their economy is bustling crippling inflation a gross slump and a possible real estate bubble and if we take a look back our fellow brics nation south africa the country spent three point nine billion dollars on hosting the games according to earth fortune the journal of african economies south africa attracted two hundred twenty thousand extra tourists

during the event that's a thirteen thousand dollars per visit and the last four years the country's stock market has nearly doubled but g.d.p. has now slowed and slipped into negative territory during the first quarter of this year the country has similar problems to that of brazil income inequality and abandoned infrastructure well for more on the business of football the backlash in brazil and the economics involve a store in our south american based guest daniel brunei so you can brazil afford this tournament. you know who you are the core of the. the pipes start fourteen billion dollars at a time when most resilient some are falling behind and can keep up with the one we placed in which is largely fueled by huge real estate massive bubble. news mostly there's also foreign speculation in real estate. and sentiment most people are still because there there is simply too many people who are lacking good basic

services such as affordable decent housing health care transportation and education for them to spend fourteen billion dollars on. a course we count on this to understand what we're doing now this is really worth it because it stimulates the. i want to ask about the long term that do you think that the country will reap the benefits in the long term because presumably that's what economists think. well they will reap the benefits in the long term but the problem is how those benefits are going to be distributed that's a political problem so long problem. the games are basically a golden opportunity for a welcoming businesses to do the fields of their dreams but it's also a golden opportunity for the majority of resilience the working class brown of black people to form on the system which they feel is still stacked against them

right go you say this is politics at play as you showed that you know as we now know kind of politics i want to ask you about the protests on the streets because that's all sides cost me as well is that so it seems like it's a vicious cycle because i know that visit us had to really invest in security about five times more than south africa today because of the violence on the straights well that's right you know the rules if the president and her fortunes could be going in the balance here. either way there were. which party is is here to stay in the building has to come back you know the last time the president will host the world cup within the year nineteen which will last and the president of brazil committed suicide that's how serious of an issue the world cup is going in brazil it's extremely political it's very emotional it's extremely complex and.

we'll see what happens yeah i mean brazilians we know i love that football we know that said you think once a tournament now that it is up and running people would just get together and enjoy it and oh the chaos in the lead out will be forgotten old else well that would be wonderful wouldn't it you know even whose name i do mean skin portuguese even he has come out he is in the tory asli political another football star named romario has also spoken out against the games so there they have very mixed emotions about this in brazil. but you know i think it's fabulous that the brazilian people. are finally waking up proving to the world that winning

a soccer match and winning the flow contest the current of all. is no longer going to keep them distracted from the serious challenges that face their nation and frankly my hope is that a similar sentiment might take root in the united states right down your way to leave it bad enjoy the games and i'll see you saying thank you for joining us as usual always a heated and insights and capital is due to host the twenty twenty two world cup which is estimated to cost of a two hundred billion dollars why such an astronomical price tag well they're ok. already know stadiums so they will be built entirely from scratch because of the levels of haiti's air condition stadiums for the players will be needed and transport infrastructure built for visitors to russia will host the next event in twenty eighteen at a cost of eight billion dollars although that figure is expected to rise for cats although despite the hate and constant allegations of bribery and slavery one

problem qatar certainly does not have is a lack of wealthy investors is take a look so the country top the list for wealth per capita in the latest poll by the boston consulting group topping the ranking for highest density for private financial wealth with millionaires making up seventeen point five percent of all households followed by switzerland and singapore. the u.s. ranked toast in terms of total number of millionaire households with seven point one million followed by china with two point four million the amount of media mez rose in china by eighty two percent from the previous year and now almost double the amount in japan the number of households whose wealth exceeds while million in russia has grown by daily affairs which means russia is now right the world wide in terms of the number of made

a household but it comes to all that per household the report showed that russia ranks fifth of the world overall the world's wealth grew by fifteen percent to one hundred fifty two trillion dollars a wall there may be more million as and ever before the metal industry often are a fraction of the real economy is still slumping global still while the problem is overcapacity has doubled it's doubled its capacity since two thousand and one due to slumping dumon despite warnings from industrial insiders production continues to grow at an average rate of three percent now i asked ed when boston from the world still association if the highs of the mid two thousand will ever be achieved again i'm not optimistic that i'll see it in my lifetime. but this means growth rates of seven to ten percent and still

a lot for that to happen you'd be something like china that has been something something exceptional the previous event of the similar nature was developed in the united states actually will be sold at some point in its history not too long ago one hundred years ago the u.s. was also fifty percent of the world's to market both in production and consumption it took almost a hundred years for china to teach that position. the next one in line should realistically be india. not going to be the time to go do that but i don't think it i believe. let's dive into corporate knees than the russian pavement system kiwi will place eight million deposit to every state in the us and its secondary public offering the money raised will be spent on corporate offices have to spend it is russia and bangladesh have agreed a final three hundred million dollars deal to complete the first nuclear power plant near bangladesh also tom is heading the project which consists of three in

total amounting to five hundred million dollars revenue of us is a largest food retired american eat group buy up may take thing one point eight billion dollars for the month. now late is brace yourself because we are about to look at tim kobe and it by the time looking death saying right bad thanks to me you know hi katie you know last week we got katie's choice for you picked what we invested in you picked for me to wear the silly bow tie on the air i look even more foolish than normal and you know what i'm kind of double murder you because i found out that the entire crew of venture capital except for me has a week off next week so this week will be investing in the same thing for two weeks in a row but katie i forgive you because last week you picked for me. the i didn't enjoy it and then wind up nine percent that's one thousand.