tv Business - News Deutsche Welle February 14, 2018 12:15pm-12:30pm CET
well that's your news drop but stephen he doesn't use a business is coming up for you and monica is standing by she'll be with you shortly with the business news. on freedom and whole. world i come from the region is rich in history started on talents natural poor education opportunity and freedom this makes it especially difficult for can depend on jobs i see many of the younger promising who are now making names for themselves all over the. song by the way some might follow some with continue. their experience of freedom
a sense is like the union of. you can visit it but you call come by. my name and use it for the one i work for you know but. don't know sound investors have gathered in kuwait to discuss efforts to rebuild iraq's economy and infrastructure but the sums so far on the table are wharfs by the more than eighty eight billion dollars that iraqi officials say are needed to put the country back on track we talked to the c.e.o. of the german chamber of commerce in the gulf states in kuwait. also coming up u.s. president all the trump seeks advise from lawmakers short or shorten the u.s. slap tariffs on chinese steel. welcome to d.w.
business iraq is open for invest us that is the message of fishel pushing out an international donor conference currently underway in kuwait iraq is hoping to lure major investment from its allies aimed at reconstructing the country of the decades of conflict the united states has already pledged alone with three billion dollars from ex-im bank but that's only a fraction of what's needed it numerous iraqi cities were reduced to rubble in the war against islamic state and it will take time and lots and lots of money to brief life back into iraq. rebuilding a country doesn't exactly come cheap iraq estimates the cost at close to ninety billion dollars. and these are some of the people the iraqi government is hoping to woo high ranking officials from the worlds of politics and business here to find out what part they might play in the reconstruction of iraq. the government is
offering projects in almost every sector of the economy including its oil industry . zeman c.e.o. joe kayser told you his company is rebuilding four power plants he said securing availability of electricity is probably iraq's biggest challenge right now we know that the grade is under tremendous stress. and the us secretary of state rex tillerson announced a three billion dollar loan from ex-im bank to help the country rebuild. the funds that we've announced that we've already committed and that we announced today there were are committing our all around stabilization in iraq and syria this is the first step that then provide the conditions for reconstruction. we have to first restore the basic utilities and keep the area safe and secure in order for reconstruction to begin the conference is taking place just two months after iraq
declared victory over the so-called islamic state it's an achievement the government is hoping will convince international businesses that now is the time to invest in the country's future. earlier in the day tillerson laid a wreath at a gulf war memorial a reminder of just one conflict iraq is hoping to leave behind as it braces itself for what it hopes will be a more prosperous future. and for more on the iraqi donor conference i'm joined by felix knight got c.e.o. of the german chamber of commerce in the gulf states he joins us in kuwait good to have you with us and when we see those images of devastation in iraq it is very hard to imagine that those broken cities could ever be rebuilt again certainly not in the future you'll that what hope do you have for iraq. well i participated yesterday in the business day in the frame of this iraq conference in kuwait and this took place in the hotel and the ball room was
literally packed with hundreds of business people so the interest on behalf business on behalf of john business definitely there and iraq definitely has business cases it's huge construction needs on the one hand but on the other hands it's on the third or fourth in the world so there is at least in the long run there will be a loss of revenue to cover part of this ok so there are huge needs no doubt and there is business interest you are telling us but iraqi officials say that they will need some eighty eight billion dollars to rebuild the country right now we are light years away from that what exactly do you think german companies in particular can do to help and i think the germany and german companies have a lot to offer in this be construction process precisely because the needs of iraq in brought sector of interest to infrastructure are so large. one example of course
is power generation distribution that was already mentioned in your report we have the deal german engineering we offer a specialized machinery and material for construction work or also another very important sector that has come from a suitable field with young companies also already very active now iraq is also looking for investment in order to prop up its oil industry is that something germany or europe as a whole should be interested in. well in terms of oil industry i think there's no major german investments to be expected in this future german companies come rather in suppliers offering phoring metering. devices specialized year but there aren't as an other sectors of course investment projects some in west new projects by german companies some have been actually blocked by it will proceed by at rit tape but we have also to keep in mind if you
look at investment projects invest in something that can only be justified if there's a certain market coverage a certainty mond in the market and this i think we have to do well in the first place through trait through project management and then investment in a way for the suit you just mentioned red tape that is also something that the german development minister get addressed at the conference a cool way as well as rampant corruption could not pull the reconstructing process the business environment so to speak in iraq has definitely to be improved. there are many issues german companies are facing that starts with the rather cumbersome process for visa approval to travel into iraq there are many bureaucratic hurdles which needs to be made easier. and obviously
there's also the security situation which has improved greatly over the last couple of years but it's still an issue for many german companies so the iraqi government in the framework of this conference has promised number of very important reforms in various fields and will be will be very glad to these through to the. implemented in the next couple of weeks and months all right i got their c.e.o. the german chamber of commerce in the gulf states talking to us from kuwait thank you so much. now from the word go he was president donald trump had a very clear idea about how he defines fair trade it's fair when it benefits america fair enough now he's considering a range of options including tariffs and quotas to address steel and many i'm imports he says are unfairly hurting us produces. the u.s. president met with lawmakers at the white house to determine whether to slap
tariffs on foreign steel imports from countries like china. secretary rice submitted the result of the investigations to me last month my administration is down reviewing the reports and considering all options. part of the options would be tariffs coming in as they dump steel that big tariffs substantial tariffs which means the united states would actually make a lot of money and. probably our steel industry that are a little bit interest in would come back into our country right now which decimated . trump insists that the new tariffs being introduced on chinese steel are fair and in the words we sip or call is a very important word we have countries that are taking advantage of us they're charging us massive tariffs to for us to sell our product into those countries where they sell to us zero which adds them to zero. work to stupid people and i don't like to have that anymore so we're going to change that and we're going to make it clear that i call that fair to choose turning down german
companies fear that they'll be the next recipients of donald trump's fair trade tariffs. maybe even one german group certainly so far has had a pretty good year because it's a well rebound for steel giants to some corporate german industrial groups reported a healthy increase in operating profit which rose more than by a third in the first quarter thanks to a recovery in steel prices operational earnings before interest and tax came in that four hundred forty four million euros profits from its steel business which is said to be sold to india's tata steel this year have increased five fold the elevator business is also doing well it's increased its profits by three percent a management is in the process of restructuring with a stronger focus on technology. of a some it's a dream for others everyday reality the life of a fisherman on the baltic sea not only do they have to brace rough winds and stormy
seas to bring in their catch they also have to be equipped with a special app that monitors their every move not to protect the fisherman but the caught during the breeding season. a blustering southwesterly wind here on the island of food means any low tide fishing is actually the question today from now before the fishermen even step aboard their boats they have to activate their new muffy up it registers every net put eye to sea to make sure they don't fish deeper than twenty meters and to stop the cause during the two month breeding season for the fisherman it's a step too far religion for him government to put in the tour we work with nature every day we know high deep we can fish there's no risk that a couple of fisherman are going to endanger the called population that we're also watching where. their guard the new scheme also means that every fisherman must
have a smartphone the first few tests have highlighted some teething problems that then cut into that if you don't have any internet then the op turns itself off which means you have to write in the log book how can you manage to do that in time when you're busy out on deck. the federal agriculture agencies say they created the op to make the fishermans lives easier the fishermen say they'd have preferred to be paid a bonus to stop fishing joining the breeding season. and that's it from me and the business team here in the length thanks for keeping us company you can always find out more on twitter and facebook. the but.
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