ironically they say a war zone and russia is a menace to nature way the way the way they go is you can see it's very close to being now in the city center and have been just just very near rofl national correspondent in the east of ukraine thanks for being with us is forty minutes past midnight and i'm also time not checking back on the afifa world cup final still scoreless like a report between argentina and germany but nine minutes into the second half well update you on the amount shortly but right now it's budget capital business. this is what we do we kill people and break things. we can see something as simple as people playing soccer you can see individual players and you can see the ball.

you can almost see is facial expression you can see is now open crying. maybe cursed. or maybe he asked. for forgiveness for. there must be near certainty that no civilians will be killed or injured.

welcome to venture capital with the k.c. building this week we've come to the heart of the moscow financial center to talk about the recent tensions surrounding the global banking industry we've also got coming up on the show our in-house investor mr tim kirby he's still involved with his metals industry will see how we go out on the second week running with service all that to come as well as corporate news and the world cup final takes place in brazil today but in four years time will happen here in moscow we go to the free stadium where it all kicks off but first a u.s. so far it is a all camping down on the european banks especially at the moment for what they see as violating trade sanctions now this could potentially alienate the u.s. from its traditional allies of course we had the french bank being people power about find nearly nine billion dollars then it was commerce bank it's thought we

find hundreds of millions for breaking u.s. rules now what does this mean for the u.s. could it mean they are a rarity in themselves from traditional partners when i was asked an expert right now i'm joined by arnold the clock from to me this oldest investment bank on birds of the air thank you for joining me today because some a rather glorious moscow would be ok do tell me we're going to have a bit of a stroll i think is the u.s. alienating itself or is it right to be enforcing such huge fines the european banks and actually all the banks in the world all stark to the u.s. dollar you know they have just no choice they have to apply it to avoid on one hand to their home rules regulations in europe for me and. as far because the speech. was involved as well and all the other homes they have to abide. to respect the international order of the u.s. regulations yes although in this case you know it was something which was. unrelated so it's a very is interfering by the u.s.

side because obviously it is a separate culture isn't it two separate countries so you can say almost of one simple it is interfering but on the other hand it is their own currency yeah so as long as you usually know this is a national currency and the central bank or federal reserve has in is it's all right to the side of things as it won't be goes its own currency so this is the funny thing with the u.s. dollar is that on one hand it's the u.s. currency on the ties to. work as a country rules and policy and currency point that's it yeah and all the other hand it is the currency of the world and is that the problem i do think with a very reliant on the u.s. dollar could we see a backlash towards the dollar if it bought a number of economists are saying that definitely you know trade should be made in all the currencies and not just the u.s. dollar i'm not trying to finance minister didn't he the rebalance the thing we have here there but president putin did say that a few years ago already and i think they are trying to you know he's trying with

the brics countries and to have these kind of alliance with china on to trade already and between different countries already in yuan or in russian ruble or in the indian rupee now what about european companies because some heads of french companies for example have been questioning why is the us dollar against them us as opposed to the u.i. design a c that's why the euro was introduced in the past but emission national contracts you can use the currency with you that you won't you know if you want to use euro you can the problem is that it's. first of all the certain you know commodities especially oil and gas are basically linked to the dollar bills and pay and that's a this is international trade these may change over time obviously box you know you have the gulf and the gulf countries first of all their own currency is pegged to the u.s. dollar so it's basically almost exactly following. well the u.s. dollar so you know and they are the large by far. the u.a.e. and saudi arabia that are just oil producers the world's all the countries also oil

producing mexico and venezuela are very much linked to the u.s. as well so some some things you know like this will probably remain for for a long time you know however there will be people say the reason fights you know among countries to sort of a number of countries want to get away from the u.s. dollar and the u.s. general you know more so than a union pollers is becomes more of a geopolitical speck now than just the financial is a political tool to think the u.s. uses that as well each country you know is using its own tools to influence the others ok that is arsenal to the u.s. as well tools still it largess in the richest country in the world by phone all right on out the clock thank you very much indeed for joining me today from the free center of the mosque a financial. and to king of global banking while the powers the five nations brazil russia india china and

south africa aidid in brazil for the eve of the summit a message to finalize the details of the development bank now we've got a ferry i missed so called scott he's in the country just now for a stop to tell me what do i expect tases and what is on the agenda this week or the first is the development bank or the brics bank as it's going to be basically this is going to be a war chest for times of crisis is going to protect the five countries and their economies can act as a buffer if there is a future financial global crisis and the second part is the stabilization fund which is going to help support the emerging economies it's going to be seen as an alternative a rival if you like to the i.m.f. and the world bank let's talk about facts and figures because this new. this new bridge bond is going to have one hundred billion u.s. dollars in reserve and forty one billion of those are going to be provided by china

eighteen billion will be provided by russia india and brazil each well south africa will provide for it being the. most opposed the burning question has to be do we need this bank or the fact of the matter is that the emerging economies are actually mainly creditors for the developed nations meaning that they are financing the developed countries of the developing world accounts for around seventy five percent of the world's total currency was a watt power of wealth distribution why is very much still with the west not purely because traditionally however the tide is turning and times are changing and the process could be accelerated by what happens here in brazil a bridge twenty forty k. thank you very much mr scott in brazil for us now talking of the country where the final of the world cup will take place today i went along to the stadium here in moscow where the opening game of the twenty eight team event to take place here in russia. the winners of the twenty fourteen world cup will be announced in brazil

today in fast forward four years and it we happening here in moscow for the twenty eighteen a vent the final will take place just behind me at that is nicky stadium which right now is being reconstructed at a cost of seven hundred million dollars and that's to get up to feed the standard and to facilitate eighty one thousand people to get these tickets sales coming in in order to make up the price tag which at the moment is sitting at around eight million dollars but it's set to eclipse the brazil prize which was around twelve billion to be the most expensive world cup in history now at the moment only three of the twelve stadiums have been finished so the pressure is definitely on the labor is to build as well as the investors to make money and the football as cisco . all. right now it's scientists in corporate news that find out what's been moving in shaking the most a city buildings and basically serbia has signed

a two point one billion year i contract with a gas problem subsidy jury c called stumps the sunscreen pipeline across it is territory this is despite the increasing pressure from the e.u. to suspend the projects because it claims it breaks competition no. question of budget carrier dubrave that has pace paying do loads of flights to some beaches but this is due to a failed agreement on the coast of the food services with the city's cocoa apple. precious state and bank the e.p.a. has said it will not take part in a bailout of met joe the indebted myna has been hit by weak prices for its products and was hoping for a convertible bond scheme from the bank the company has already gone through several debt restructuring. let's get over to the headquarters now and see what tim cabbie has been up to on the business desk because he was stuck with sevastopol once again so how did it walk out for the second wave well not as good as the first

time i lost sixty five dollars but that's ok i'm still way ahead and waste of money also meant that you had to spend a hundred u.s. dollars on what have you found said last time it was pretty certain what to do. well are your thoughts since it's summer time most people in america might have a cool coca-cola or something but here's the summertime drink costs for russia you know i will tell you what's in it because it'll sound unappetizing book tell you two things one is to lucius to it contains no animal parts so well i hope you like it because there are sixty more of these in your office waiting for you but anyways katie i think it's time to find out what we're going to invest in but certainly we can't invest in four across. the board to make squash i forget bullets she is a going to be baltar could. is it is it no it's not it's going to be zero rosso diamonds which i believe worked out pretty well but hey cross might be cheap but

for me it's a lot better than diamonds now tim you've done exceptionally well overall what is it you'll see create can you just talk us through what has been happening plays my secret oh i think complete and pure luck i don't know we just put major russian companies up here it could be also the fact that a lot of the really really big and reliable companies trade and the more medium and small sized companies really don't so maybe the selection in russia is a little bit more reliable i don't know. i can say thank you to the legendary mr tim looking forward to seeing you and next week it is time for me to say goodbye from the financial hub of the last day well the financial action and trading takes place good bye scenically.

it's like you know when the bullets to start because it's like duck duck duck. back back back back up. so it's it's almost like there's a big blue and then you just see the big sound it's like a base. speak to language. programs in documentaries in arabic in school here all my. reporting from the world talks about six of p.r.p. interviews intriguing story to tell you. the troy arabic to find out because it's arabic don't teach dogs.

live . live . live. by maggie martin rather it's the stories we cover here you're not going to hear any

right it's such a big story that abstract headlines and talk there's a reason that they don't want to denounce the letter or to tell friends that we should all be completely outraged now let's break the set. well again more of big stories that shape the weaker relations between germany and the us took another blow in the last seven days when burley kicked out a cia chief assigned the itself to two high ranking german officials were on masters alleged american spies sparking some angry words the german interior minister indeed dismissed the information obtained as trivial trivial or laughable but said the political damage caused was disproportionately serious comment too from a left party member who is outrage saying there's no longer blind trust in the united states and the justice minister has been demanding that u.s. spying in germany be stopped once.