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tv   Business - News  Deutsche Welle  December 1, 2017 12:02am-12:16am CET

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while on a tour of bangladesh. the cost of crude rises as opec agrees to extend output cuts will rival u.s. shale companies paid to the cartels are. also coming up global trade ministers promised to tackle steel subsidies but they can't agree on much more than that as they stress wobble over tariffs and dumping prices. and tensions similar between kenya and tanzania over cattle owned by the mass people who graze their livestock on both sides of the border. this is your business update on how they are free in berlin thanks for joining me a barrel of brant crude is currently trading over the sixty dollars mark and opec member states are hoping it will stay that way for the next nine months that is the
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aim of their latest deal at least to extend a cap on global supplies agreed to in vienna on thursday and review is possible in june if the market over heats saudi arabia believes the market has yet to rebalance awards it's premature to talk about exiting the cuts at least for a couple of quarters opec members also decided to cap nigeria's output but have yet to agree a cap for libya both countries are exempted from cuts during previous rounds of talks due to unrest are lower than normal production. or financial correspondent so fishermans he joins us now from wall street sophie the pick up in the oil price is also dependent on whether rival u.s. shale firms raise their output further or not could the u.s. end up through to opec plants. yes definitely you can say that and this is indeed exactly what has been going on so far in the opec so saudi
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arabia for example and iran have repeatedly agreed on having the outputs in order to help the historically low price to stabilize but as the united states are just not part of the opec this deal never kept them from producing more oil and on top of that the technology behind fracking has been improving so it has never been easier and cheaper for the u.s. to produce oil so total u.s. crude production currently runs at nine point five million barrels a day and is expected to even add eight hundred thousand to one million barrels per day annually so crude oil gushes out of the u.s. like never before and this puts a lot of pressure on the price of oil and so if you the dow jones is jump past the twenty four thousand mark for the first time what is driving it. so yes the dow soared to new record highs it actually had the best day off the year twenty seventeen twenty four thousand points our already three hundred points away
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and that means november is the eighth straight months for the industrial average to end on a better notes than it started into the month and the main reason is definitely the progress the republicans have been making and in that big tax reform it seems that investors and businesses are finally getting closer to what trump has been promising them a business friendly tax reform with huge tax cuts for corporations so the senate is voting on their version of the bill is definitely a big step it is a considerable progress from the member first when the house voted on its version financial correspondent in new york good to talk to you. siemens is a setting the stage for germany's biggest i.p.o. in over twenty years europe's largest industrial conglomerate has chosen to nest health and nears its medical business in frankfurt over new york it doesn't want to
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get involved with u.s. regulation and believes that frankfurt exchange there will grow as a result of bragg's it the health it is the largest of siemens divisions by revenue and is also the most profitable it sells machines to hospitals and practices as part of the initial public offering zeman is expected to sell a minority stake of up to a quarter the listing of the stock exchanges scheduled to take place in the first half of twenty eighteen. still producing nations have agreed to dismantle market distorting subsidies g twenty minutes has met him but in on thursday to avert a trade. overcapacity that's been causing international tension but the divisions still remain. expectations were low from the outset the interests of the participating countries were just too varied the goal of the summit was to put the brakes on steel production worldwide to reduce crippling overcapacity but in the end that mission remained impossible there was at least some agreement as to the
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cause of the problem though it can and you know it finished members recognize the need to make sure that the market forces are working better and that means agreeing that there should be a reduction of steel subsidies that are distorting the market itself and. that agreement is not binding though the o.e.c.d. says currently the market is flooded with an extra eight hundred million tons of steel around five hundred million tons of it comes from china by far the largest steel producer in the world but europe is also producing too much and the u.s. is threatening further punitive tariffs and complaining of dumping prices. good news unemployment is no us this is takes ages a year or stat says is to seven point four percent in october its lowest level since two thousand and eight year the global financial crisis slightly less good
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news the chance of finding what varies from country to country and some companies are complaining they can't find enough skilled. czech firm linnet his desperate for more workers. the hospital bed manufacturer has seven hundred employees an annual sales of two hundred seventy million euros it could increase those figures if it could only hire more assembly line workers service technicians logistics specialists and engineers. many other check companies have the same problem as limit. the czech republic has the lowest unemployment rate in the e.u. at two point seven percent this compares to germany with joblessness at three point six percent across the bloc unemployment stands at seven point four percent on average that's a total of more than eighteen million people. the jobless rate is highest in southern europe especially in spain and greece. these southern european countries
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have had high unemployment for years. many young people from the region have left looking for better work prospects that's making it difficult for some companies such as this woodworking shop to find employees as the outlook slowly improves. diplomatic tensions between kenya and tanzania threatening to flare up over pastures for cattle belonging to the must side people who live on both sides of the border and in tanzania president john michael fully is came to implement a livestock ban saying his country is not a grazing land for cows from across the border in kenya the struggle for regional power has been felt in the daily lives of farmers who live near to the border and i used to trading freely to survive mary mature is a worried woman the times annie and widow and mother of one took a business risk that has left her devastated. in early november hideo chicks were
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burnt alive by her country's authorities in the monger a town on the border between kenya and tanzania. i thought i'd try out the poultry business so i took out a loan of about three thousand eight hundred euros i bought the chicks in kenya to sell them here and in russia but when i got to the kenya tanzania border point and i'm angered they said the chicks had to be destroyed because they could have the bird flu all six thousand four hundred of them were killed you know from their communities living in east african border towns usually move freely from one country to another some families even split their time between two countries mary thought this was an asset for her new business. tanzania banned the importation of livestock from neighboring countries in two thousand and seven this year it's had an extra push. in november alone government confiscated eleven thousand three
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hundred cattle from kenyan ugandan and rwandan herders auction in them for as little as thirty euros each we had to a large stock market on the kenyan side of the border. of the traders who manage to make it to the market if the tanzanians who end up making the most money their cows a cheaper and seem healthier the residents here say that on a normal market day you wouldn't even find space to stand in this enclosure but the recent spat between kenya and tanzania seems to have obviously affected business here near the kenya tanzania border. there's a lot of pressure on kenyan traders mostly dealing with a severe drought and now that they can't trade in tanzania they're beginning to get agitated. and. depend on these cows for everything if trading with tanzania is going to be difficult then we'll take matters into our own hands if this issue is not resolved
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to block the tanzanians from entering kenya. these rules are very. kenya has since written a protest to tanzania through the east african community but president undeterred insisting rules of rules have of these rules a greatly affecting business and lives of those at the grassroots level. one of the largest startup events in europe slosh is taking place in the finnish capital of helsinki thousands of startups and potential investors are exploring ways of doing business together over the past five years finland has managed to build a flourishing entrepreneurial scene on the legacy of not his foreign operations in the creation of gaming heavyweights supercell the angry developer rovio the country in the wider european region has struggled to create a true global joint to compete with u.s. companies like google or amazon.
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so you're up to date with the latest from the world of business from all find us on facebook follow us on twitter me business is all handle on there as well hennessy humphry is mine i'll be back tomorrow same time same place see that.
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your children like chocolate. you can put on your smart phone. or to a job. market. as we go about our daily lives to move right from the last thing on the minds. invisible hands slavery in the twenty first century starting december second on
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g.w. . listening and then for your. because i speak your language thank god. for content in dari pashto order prospects for returning to our web special. journeys of life in germany and the prospects for those returning home. join the discussion along t w dot com and on facebook. prospects for returning. d.-w. maybe from mine.

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