decisive political responsibility for this wire card scandal all issues converge at the federal finance ministry the balance sheet monitoring money laundering supervision financing provision employee transactions and short selling ban. why a card processed online payments moving a lot of money back and forth across many borders made it hard to monitor what looked like a successful dacs company was really a criminal world of deceit accounting fraud and money laundering. ex c.e.o. marcos bone is now in custody its former chief operating officer yan mushnick fled 10 months ago. my records auditors the why and germany's financial regulator buffy and say they did not detect any irregularities. that said sean's admits that the state supervisory and inspection authorities were not well enough equipped for a case like this. he says what's important now is to regain the lost trust in germany as a financial center so we can now welcome onto the program follow me today as she is a hedge fund manager and short seller who appeared before the bundestag y. caught investigation committee herself thank you very

decisive political responsibility for this wire card scandal all issues converge at the federal finance ministry the balance sheet monitoring money laundering supervision finance supervision employee transactions and short selling ban. why a card processed online payments moving a lot of money back and forth across many borders made it hard to monitor what looked like a successful dacs company was really a criminal world of deceit accounting fraud and money laundering. ex c.e.o. marcus bone is now in custody. its former chief operating officer young marshall mcluhan 10 months ago. my recurrence auditor's the y. and germany's financial regulator buffy and say they did not detect any irregularities. that said sean's admits that the state supervisory and inspection authorities were not well enough equipped for a case like this. he says what's important now is to regain the lost trust in germany as a financial center. so we can now welcome onto the program fahmi kiddish is a hedge fund manager and short seller who appeared before the pundits dogs why caught investigation committee herself thank you

we will be on watch for the finance ministry to release its monthly economic assessment report. nance minister is also holding a meeting later to boost system chips future cars and the health-care industry. over in japan we are softbank is investing in indian food delivery startup swiggy. we are also watching chose sheba. they could reject cbcs buyout offer. local media saying that would raise the opportunity for cbc to launch a hostile bid. japan's share of u.s. treasuries falling to the lowest on record. holdings are about 5.9% of total debt in february. haidi: we will sound japan. the prime minister says he wants to build a trusting relationship with the u.s. as he becomes the first foreign leader to meet with president biden in person. let's go to our government reporter emily wilkins for a preview of what to expect. emily, we understand the suga administration will rest overnight before the meeting on friday. what is on the agenda? what the receipt in terms of the priority of this being the first foreign leader to be met by president biden in person? >> there are a lot of th

a high attention case not only within boston but also within the finance ministry for many months for more than a year so we think we believe at least i do. should have been much more info mentioned much more americans also by the ministry also by mr schultz himself to bring those people who are responsible to control to investigate into why it caught much earlier than it has happened. i want to read something from the newest issue of foreign affairs consensus dead simular at the brooking it brookings institute writes that a series of scandals and she includes diesel gate here and wire card have revealed a deeply flawed corporate culture and resistance to accountability and oversight in germany what is wrong with corporate governance in germany right now. i couldn't agree more and this is absolutely correct i think shareholder shareholders position in german corporate law is too weak the supervisory boards are not working professionally in love and not at least not all of them they meet from time to time but the management has much more freedom less control than in other jurisdictions

these hearings so for olaf scholtz why did he allow this to to happen so he was the head of the finance ministry and we've sort of seen a lot of people who've come before this committee passing the blame but you know he's the head and these allegations of fraud it why are card were around for years and instead of investigating those they were going against going after journalists and people of betting against the stock and really just trying to shut down those criticisms so parliamentarians are going to want to know why and for chancellor merkel the big question is why did she go to china and lobby for why are cards in years after this these these allegations were around so that's really what people are going to want to know all right all eyes on this testimony chelsea delaney business thank you very much. and let's take a look now at some of the other business stories making headlines. air travel is said to recover slower than expected according to global airlines body i $88.00 it blames vaccinations allays and government risk aversion $88.00 predicts traffic will only reach 43 percent of peak

those will apply to primary debt issued by the russian central bank, finance ministry, and sovereignh fund known as osz. foreign investors hold about a fifth of that debt. joining me on, bloomberg's annmarie hordern, who is going to take this conversation further. >> russia's second biggest bank has been the primary buyer of these options. it is one of the main things when you look at the sanctions going to the sovereign debt market that's going to get hit. the president of that bank, russia's second-largest largest bank, joins me from moscow. thank you for joining us. you have been a massive buyer on the weekly options for weeks now. is vtb a defective dealer now? -- de facto dealer now? >> we are buying -- you now have 7% on these. and because russian bonds are very liquid. you can always get cash against them. it is a good investment. we already have the portfolio around 1.7 trillion rubles. american investment might have 1.4 trillion. i think that is a situation that is quite manageable. we expect it will not go much worse. >> many say it is not hitting the secondary market. what

deficient ok taking it on board what you're saying for sure but will this leave the chinese finance ministry open to accusations of not currency manipulation because those those accusations have been around for years and years largely unproven of course but helicopter money that's what the finance analysts call it where the chinese government goes into a sector and basically dumps cash into a sector so that's why for example in real estate investment is running at 38 percent that is very very difficult to sustain and might cause overheating within the chinese economy just that the chinese local level. peter i don't know which congress you're talking to but china's response to the code 19 economically was percentile and between 10 and 30 percent of what was done by the us europe etc so there wasn't this quote helicopter money a lot of the things that you're talking about are response to issues of shortages the u.s. has cut off ships and things like that they have been putting money into you know developing the ability to supply their own side so this idea of helicopter money i think is a litt

finance ministries and banks will work together to identify mechanisms to promote green investments andccelerating transition to the economy. is a prepared to meet with my colleagues from around the world this week at the imf and world bank spring meetings, i find myself thinking back to policymakers who gathered in bretton woods one year before i was born to define our postwar order. although it was a different time, i empathize with the enormous weight they face. the pressure to come together after a global catastrophe to build the enduring and interconnected system to promote peace and prosperity throughout the world at the current juncture is no less significant. what we do in the coming months and years, will have profound impacts on the trajectory of the country and in the global economic order. of course there are key differences from the postwar era. maybe know most noticeably i will rejoin further this week by other female finance ministers and heads of international financial institutions. not enough but a start as well as diverse representatives from all corners of the globe.

official is arguing that congress should come together to support the finance ministry sions 2.3 trillion dollars spending plan because of g.m. fact you could count on china will just got a lot tighter and is under pressure to take action on the north stream q pipeline but could it do more harm than good on a project that is already in your completion then then you leave this platform to accept that point providing even more access to the world's most popular professor of currency we have a lot to get to so let's get started. by an administration is fighting an uphill battle as it works to gain support from republicans for the proposed $2.00 trillion dollar economic plan but while that would make the government's infusion of capital into the u.s. economy $7.00 trillion dollars in just over one year some are claiming congress should support it because of the impact it could have on china the latest plan would include $621000000000.00 for roads bridges public transit and electric vehicle development 580000000000 for manufacturing research and job training efforts 400000000000 to care for el

finance ministry said she thought most of this would be unleashed on a spending spree when combined with joe biden's $1.00 trillion dollar stimulus bill worth around 9 percent of g.d.p. that is likely to push inflation higher she said as you point out that's not those aren't wages that's income so income through transfer payments yes or money fronting yet because the economy died in 2008 and it's being kept animated like you and adam made a corpse with electric shocks with money printing and this is causing bubbles so used car prices are a bubble not because wages are growing at that there's an inflation of those g.d.p. growth and there's any hope of paying down the national debt those hopes have been dashed the stuff we're going to happen but we do have these bubbles within the collapsing global economy and the acceleration of backlash. crash is increasing which is now contributing to political tensions you know you've got this new cold war situation bubbling that's because the economy died in 2008 so it just dawned on me when you said the transfer payments it could just be a situation

spreading as rapidly as they are to remove the age limit so the more people can get vaccinated the finance ministry also announced that they will be making a lot of money available to the countries to cover the $1000.00 vaccine manufacturers that's the institute of india and also to bought a biotech so they can increase production to meet the demand because there have been many reports over the last weeks of vaccine shortages and the government really sees vaccinating people as a key strategy to reducing the numbers which are the greatest they have been since the pandemic began and many states and many states because of those numbers are also introducing more and more restrictions of problem bring is the latest situation in india thanks very much this. russian state media reports in moscow plans to block parts of the black sea to foreign ships for 6 months u.s. as russia could restrict access to a cranium ports in the sea of as of. another attempt by moscow to destabilize the country conflicts between kids forces and russian backed separatists in ukraine's east has been escalating the use top diplo

especially in the worst affected states saying that the centers are out of vaccines and slow the finance ministry has decided to make a lot more money available to the 2000 back to manufacturers in the country so you have institute of india and also to bottom biotech to increase their demand as much as possible to try to get jabs and to people's arms and most recently we've also had some reports on local media through a right to information act from the government reporting that 23 percent of all the vaccines and dhea this year have actually been thrown out the vaccine wastage rate in india up to the 11th of april 23 percent elizabeth thank you very much indeed we'll come back to you as that situation develops for now elizabeth put on thank you. i am. was the jury in the murder trial of former minneapolis police officer derrick sovan has begun its deliberations he's accused of killing george floyd of the kneeling on his neck for more than 9 and a half minutes sean is facing 2 murder charges and manslaughter john hendren has been following the trial in minneapolis. otherwise we are in recess until

losses every year, i should add, barring one since 2013 and its main shareholder is thailand's finance ministry painful for them. it certainly will be. aq, sharanjit. -- i will be. a0, sharanjit. —— thank you. and let's stay in singapore a little longer. in the past year, the hospitality industry has taken a hard hit from the pandemic, and many small businesses have closed. but as the city—state reopens cautiously, some entrepreneurs are launching new restaurants and bars. sarah toms investigates. the pandemic has closed hundreds of thousands of nurses across the world. but for this lady, it was time to start a new one because of the former banker open to this restaurant last year. you'll coming out of the circuit breaker, rentals were far more affordable. people want to come out and discover new places and gather with their friends and family so that's was perfect for me. large restaurant groups are also launching new outlets. this group now has 38 restaurants in singapore including six new outlets like this one called society. government grants, they help us with labour, rent and bringing us

political responsibility for this why are current scandal all issues converge at the federal finance ministry balance sheet monitoring money laundering supervision finance supervision employee transactions and short selling ban. why a card processed online payments moving a lot of money back and forth across many borders made it hard to monitor what looked like a successful dacs company was really a criminal world of deceit accounting fraud and money laundering. ex c.e.o. mark reuss bone is now in custody. its former chief operating officer yan marshall mcluhan 10 months ago. my records auditor's the why and germany's financial regulator buffy and say they did not detect any irregularities. that said sean's admits that the state supervisory and inspection authorities were not well enough equipped for a case like this. the sense of what's important now is to regain the lost trust in germany as a financial center. so we can now welcome onto the program fahmi kiddish she is a hedge fund manager and short seller who appeared before the pundits dogs why caught investigation committee herself thank

but we have heard nothing from its major stakeholder, the finance ministry. still looking for more clarity about the fate of h uarong. haidi: in 18% rise in first-quarter profits and improving economic outlooks. bloomberg spoke with the cfo andy hufford about the results and what investors can expect in terms of dividend and buybacks. >> we had a good start to the year and a significant increase in profitability up 18%. 1.4 billion is the biggest course profit wise we have had in several years. a lot of that came off the back of significantly reduced credit payment charges. compared with just $2 billion to the whole of last year, a very significant improvement in the credit portfolio performance. it's in line a fraction down, but that is to do with reductions last year so that will start to normalize as we move forward. but we are very happy with the start of the year. >> you are happy. do you have any visibility on share buybacks and dividends? >> we will talk more about those when we come to the half-year. we are obviously only one quarter of the way into t

a majority stakeholder, the finance ministry itself. they have been silent on this issue. this is a question, will china come to the rescue of an asset manager, a bad debt manager in which it has a majority stake, or will allow the moral hazard to continue. annmarie: that is what investors are waiting to find out, what is keeping them uneasy. tom mackenzie, thank you for joining us. s&p 500 futures a little softer, but relatively flat. we hit another all-time high yesterday. economic data strong in china, but very strong in the united states. paul donovan's take, never bet against the hedonism of the u.s. consumer. strong economic data to see yields dropping below 1.6%. in asia, fluctuating across the csi 300. the quarter on quarter reading was the important one, that was a miss. a little softness on the yuan. joining us today is alan higgins , cio / managing director, coutts & company. let's start with china, and the latest overnight. when you dig into the numbers, what surprised you the most out of this mega data dump out of china? alan: it was a slight miss, i'm not too

the finance ministry there citing no urgency to meet sales targets.o yields expected to drift even lower, particularly for those low yields in the asian space. haidi: yields when it comes to indian bonds have been coming under pressure. what are you seeing when it comes to the rupee outlook? sophie: when it comes to the rupee outlook, economists at nomura had to say that the rbi is increasing the vulnerability as it suggests that the central bank wants to cap yields in india with the risk of more future buying of bonds. nomura has exhibited the long loop of its exhibition on the back of that. haidi: one of hong kong's biggest real estate company new world development doubling down onto its expansion into health care and insurance as it targets more business in mainland china. the executive vice chairman adrian chong spoke exclusively to bloomberg. adrian: this is doing well. we met our targets to our first half, and we have already been on track around six to percent of our targets, and as we look at january and february, we are seeing a big recovery

decisive political responsibility for this wire card scandal all issues converge at the federal finance ministry the balance sheet monitoring money laundering supervision finance supervision employee transactions and short selling ban. why a card processed online payments moving a lot of money back and forth across many borders made it hard to monitor. what looked like a successful dax company was reeling a criminal world of deceit accounting fraud and money laundering. ex c.e.o. marcos bone is now in custody. its former chief operating officer yan mushnick fled 10 months ago. my records auditors he y. and germany's financial regulator buffy and say they did not detect any irregularities. that said sean's admits that the state supervisory and inspection authorities were not well enough equipped for a case like this. he says what's important now is to regain the lost trust in germany as a financial center. so we can now welcome onto the program for me today as she is a hedge fund manager and short seller who appeared before the pundits dogs why i caught investigation committee herself thank you v

it is a distressed debt manager controlled by the finance ministry. all of the details, our china credit reporter joins us. why are investors panicking right now? >> we see this extraordinary story of mounting stress. one of china's more important central state owned companies. huarong kind of stoked investor concern after the release of its financials march 31. it led to questions about the liability and visibility of the group. there have been reports of a potential restructuring, yet no signs the government might step in to prevent investors taking a cut. that sparked a lot of worry about the extent and scope of support from the state. this is an a rated investment grade borrower. typically held by many institution or international investors. now it is trading at junk levels. $.60, $.65 on the dollar. manus: i remember when they use to rate certain other products as aaa, that came to an untimely end. $42 billion worth of onshore and offshore debt in this company. it comes down to a simple issue, the bonds rated aaa by some of the rating agencies as

uncertainty about what the longer-term plan is because we have not had any clarity from the finance ministry know that earlier this week, they came and downgraded the credit rating, precisely because there was a lack of transparency and because of failing to meet that deadline for publishing its earnings results. investors will be scrutinizing, but there is a little near-term relief for huarong. it does add urgency for a push and calls here, including the pboc. and we need urgent reform to simplify the process, because you have so many different actors with different stakes in different regulatory rules at play and it is making it all very complicated indeed. haidi: meanwhile, we are hearing that the eu is looking to restrict some mergers, what do we know? shery: -- >> this is a plan that have to be signed off, but it also ties in to a greater push by european capital, and quite frankly, in the face of the disruptions as a result of covid-19, it would look that this plan on companies that would receive subsidies or have state backing might be blocked from doing so. it would need to be signed

china's finance ministry to be considering track transferring asset wealth management.ording to a source, one of the proposed transfers for the investments is that it has more experience resulting in debt risk. toshiba is facing a possible bidding war on the departure inc. ceo. they are weighing an offer they could outbid the $21 billion proposal. a source tells us brookfield asset management exploring a bid. meanwhile, there is a report that the ceo will be stepping down later today after coming under pressure from investors and employees. and, more fallout from the archegos. credit suisse offering large trades and things linked. su keenan joins us now. >> the lending restrictions to hedge funds and family office funding, this is a very lucrative part of any major bank or brokerages. it appears to be around to all the fallout from archegos. credit suisse is one of the firms that suffered a multibillion. restrictions includes previously granted exceptions, that's according to a person close to the matter. japan's largest brokerage firm is also examining the cause of the

that treasury is cochairing the newly launched g20 sustainable working finance group, where finance ministriesentral banks will work together to identify mechanisms for promoting green investments and accelerating transition to a net zero economy. as i prepare to meet with my colleagues from around the world this week at the imf and world bank spring meetings, i find myself thinking back to policymakers who gathered in bretton woods a year before i was born to define our post war order. it was a different time. i emphasized the and or miss weight they faced -- it was a different time, and emphasized the enormous weight they faced. our current juncture is no less significant. what we doing the coming months and years will have profound impacts on the trajectory of our country and on the global economic order. of course, there are key differences from the postwar era . maybe most noticeably, we will be joined later this week by other female finance ministers, central bank governors, and heads of international financial institutions. not enough, but a start, as well as diverse representatives fro

>> according to bloomberg reporting, the finance ministry, the majority shareholder in huarong assetement is looking to move its state to a unit of the country's sovereign wealth fund and that is one option. we also know the country itself, huarong, is looking at a sweeping overhaul of the business to spin off non-core parts of the enterprise to try to avoid a debt restructuring which is the key issue for bondholders and the key concern. the other piece of reporting from bloomberg involves the big guns coming out, the big bazooka solution, the pboc taking on board, china's central bank taking on board $15.4 billion of huarong's debt, move to try to clean up its balance sheet. a reminder that this is a business, huarong, that now has an outstanding $42 billion worth of bonds, that are due. 17 billions -- $17 billion are due at the end of, 2022 so there is an urgency for a solution and those are some of the issues, and potential solutions or options we know according to bloomberg reporting, that they are looking at. >> markets coanchor tom mackenzie in beijing. let's get to first word

for the best reward possible like ministerial job like even major solver in ministry job like finance ministry of defense ministry of foreign affairs minister so he's going to be winning and you think trying to set one of her will peel off from which of a lot of parties in the opposition today in order to reach the 61 member coalition and just to kind of put all of this and contacts it's worth reminding our viewers that this is the 4th election that israel housed in a matter of 2 years' time what does this tell us about the state of politics in israel when looking out for a number of years i mean if one can put it in an image they've been flaying musical chairs and you know every time that one stops and usually the 2 when it's like the it's the to play it's it is the art of the possible someone is left standing and leaves the scene and nothing you know always somehow grabs his chair the main chair so once again we are in the process of a musical chair game in israel and the main reason for that that man to some for the foreign actions is benjamin netanyahu his insistence on maintaining his lea

photograph in 1943, mentioned an important detail that the germans in the photograph worked for the finance ministry they were normally there checking packages at the train station at the post office and they volunteered they were recruited on the spot they sought as an opportunity and they were anti- somatic within their unit. >> how did you come across the name of the photographer? >> that had been part this picture was taken after the war actually there he is with his camera. that was part of the archival records. because the photographer was born in 1916. twenty-five years old when he took that picture. in it turns out he did not want to be in the war. looking at that photograph the images so clear and then to compelled to follow that a static. he didn't have a zoom lens so we know he was standing close to the killing. maybe 20 feet. when he was questioned in 43 by the jewish affairs police office, he mentioned there were the finance guards that were there which was important and then described what happened that day and why when he heard from his barracks the sound of the shooting and the screa

china's ministry of finance owns a 57% stake. ly it will honor its debt. >> well, it's an interesting case. yes, it is 57% owned by the ministry of finance it did not guarantee any of the bonds outside of china. this overseas subsidiary does not have much money. let me put it in simpler terms. say your child is overdue on his credit card and the credit card company comes to the daddy and says i want you to pay off the bill. the debt can say -- the dad can say no. that is pretty much the issue. rishaad: we have bloomberg reporting the ministry is considering transferring its stake. is this good or bad for bondholders? and what are the messages it is sending out? is it just indicating more moral hazard, as it were? >> you could interpret it either way. the bloomberg news story is circulating widely this morning. chinese traders see it as a bad sign because it is basically the ministry of finance saying i don't really own 57% of china huarong. whereas foreigners still say ok, it's ultimately responsible to the state council. perhaps

the finance ministry said to be transferring asset management. within the next few months.ording to sources, one investment is that it has more experience. credit suisse is said to have slashed the amount of money set aside for employee opponents -- employee bonuses using the savings to limit the hit from the archegos implosion. it is expected to be just over 3.7 billion in profit. coming up next, the outlook for asia's recovery and a more inclusive economy. the deputy director will be joining us next. this is bloomberg. ♪ >> the ims says as it is likely to benefit from u.s. fiscal expansion, forecasting regional growth. the capital outflows are faster than expected. kathleen hays is standing by with our next guest. >> this is the deputy director for asian and pacific -- this asian and pacific international monetary fund. we will go into what he sees as what is happening for asia as a whole. the vaccine rollout have been very mixed in the region. viruses are researching in some cases. your calling on the rich nations to help more. is it enough for president biden to say we

by the finance ministry.impact potentially across the russian economy and everything concerning the markets. anna: thank you very much. our editor for international government. apologies for interference on the line. coming up, big banks to bitcoin, keep market watch is. we will get the latest with laura cooper. this is bloomberg. ♪ ♪ >> we are going into a time of faster growth and job creation. the major risk is we will have another spike in cases, and one of the virus strains. over time, the u.s. euro budget is on an unsustainable path, the death -- the debt is growing. the current level of debt is unsustainable. the current level is very sustainable and there is no question of our ability to service an issue that kept. most members of the committee did not seat raising interest rates until 2024. that is not something we bode on or act on as a group. it really is our own assessment. anna: jay powell they're saying central bank will likely scale back. giving some sense of the order in which tasks will be co

it is majority-owned by the chinese finance ministry.could be a key reason why you ask that question. why they would do this sort of bailout. it's a closely watched barometer of the government's willingness to backstop debt and state owned enterprises in the financial space. the big question is, given that it is china's number three financial issuer overseas, what happens to those foreign bondholders? haidi: coming up, we speak to takeshi niinami. how he plans on achieving green goals. lots more to come. this is bloomberg. ♪ shery: one of japan's biggest beverage makers is pledging to go green. it says it's committed to ensuring its production is sustainable, with a focus on water use, emissions, and plastics. let's bring in the president and ceo. thank you very much for joining us today. it's great to have you on. you do have very ambitious green goals, whether it's reducing water usage by 2050 and zero greenhouse gas emissions by 2050. we are talking about a very water intensive business. how do you plan to achieve this? give us a broa

onboarding $15 billion worth of huarong' debt to help clean up its balance sheet and we know the finance ministrythe biggest shareholder huarong in, is looking to move its stake to a unit of the sovereign wealth fund. but there is urgency because you are looking at an asset manager that has debt obligations of $42 billion u.s. in total, $17 billion due by the end of 2022. bloomberg economics putting out a note this morning saying, whatever the solution, it is likely that at least those dollar bondholders will have to take on some of the cost as well, whatever solution they come to. paul: china markets coanchor tom mackenzie in beijing. a quick check of the latest business flash headlines. chinese brokerage cicc is going on in overseas hiring spree which could see assets jump tenfold in the decade, the investment bank looking for m&a targets among asia focused firms including stock and hedge funds and wealth managers. cicc is looking outside china's $15 trillion asset management with rivals like blackrock seen gaining a 50% share in the next 10 years. credit suisse bank reportedly believed greensi

iraq apparently there is no clear data we asked the ministry of trade who directed us to the ministry of finance who told us to us to central bank which in turn said that data must be kept by the ministry of planning. to be. in fact this issue of how much is imported is not our job we only plan for the quality and legal imports the organization for quality and standards monitors goldsmiths all over iraq also we have offices at border crossings and airports to guarantee quality and reduce smuggling deep rooted corruption and a weak economy makes it easier for black market operators to move things across borders diplomatic sources told al jazeera the due to lack security of crossings and enormousness is gold being smuggled from neighboring countries. and iraq's economic uncertainty leads to increased local demand despite the current coronavirus pandemic. this bar of gold costs about $55000.00 in today's market because of iraq security many families are investing in precious metals rather than keeping their money in dollars. from glittering religious sites to important social occasions europeans ha

iraq apparently there is no clear data we asked the ministry of trade who directed us to the ministry of finance who told us to us to central bank which in turn said that data must be kept by the ministry of planning required i love to be. in fact this issue of how much is imported is not our job we only plan for the quality and legal imports the organization for quality and standards monitors goldsmiths all over iraq also we have offices of border crossings and airports to guarantee quality and reduce smuggling deep rooted corruption and a weak economy makes it easier for black market operators to move things across borders diplomatic sources told al-jazeera the due to lack security of crossings and more listeners is gold being smuggled from neighboring countries. and iraq's economic uncertainty leads to increased local demand despite the current coronavirus pandemic. this bar of gold costs about $55000.00 in today's market because of iraq security many families are investing in precious metals rather than keeping their money in dollars. from glittering religious sites to important social occas

iraq apparently there is no clear data we asked the ministry of trade who directed us to the ministry of finance who told us to us the central bank which in turn said that data must be kept by the ministry of planning required i love to be. in fact this issue of how much is imported is not our job we only plan for the quality and legal imports the organization for quality and standards monitors goldsmiths all over iraq also we have offices of border crossings and airports to guarantee quality and reduce smuggling deep rooted corruption and a weak economy makes it easier for black market operators to move things across borders diplomatic sources told al jazeera the due to lack security of crossings and more listeners is gold being smuggled from neighboring countries. and iraq's economic uncertainty leads to increased local demand despite the current coronavirus pandemics. this bar of gold costs about $55000.00 in today's market because of iraq security many families are investing in precious metals rather than keeping their money in dollars or iraq in the nars from glittering religious sites to i

it was good to see the german ministry of finance seems to be coming around to the fact that wirecardtle more than a global laundromat. when we talk about coordinating our efforts to get money laundering and transnational crime, it requires a global effort. here wirecard was a domestic issuer and much of the primes -- much of the crimes originated on german soil, so we need to see a good-faith effort on the part of the german establishment to engage in willingness to prosecute wirecard for these crimes. alix: do think that is actually going to happen and regulators will make a difference? fahmi: it has been heartening to see some of the changes that have already been made. there has been a clearing of the house at the top, and they brought in mark branson. that is very commendable. this inquiry should only be a starting point. the fact is the inquiry itself has been limited. it only goes back a few years, when really what needs to be investigated is the evolution of wirecard over the past two dictates. my hope is that after this inquiry is completed, it will be passed on to law enforc