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tv   Business - News  Deutsche Welle  February 15, 2018 2:02am-2:16am CET

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the figure markets have been waiting for with the bated breath us january inflation stronger than expected but stock markets haven't panicked just yet. also coming up ten years cut flower industries key to the economy dead but it's facing increasing competition from neighboring ethiopia. and besides wage storms both dixie fishermen now have to contend with an up the follows their every human. race is your business update i'm helena humphrey in berlin good to have you with us in the u.s. a stronger than expected inflation data set wall street stocks mostly down consumer prices well hoffa's percent in january driven by higher closing costs and the spike in the cost of car insurance the annual rate held steady at two point one percent still equities on going crazy with a whole retail sales report going some way to offset those inflation fears.
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so let's bring in our financial course want to say fisherman who is in new york for us good to see you sir if you bring us up to date with the latest on how the markets have digested this data. yeah well hellenized seems like the markets have recovered after they did indeed in these plants as a first reaction to these numbers but i think most people expect that the consumer price index to buy is the key indicator for inflation rose only slightly more than expected in january and at the same time the dollar is recommitting at the moment and that's helping domestic companies to say competitive still the fed is getting more and more concerned that the economy might be overheating not only due to the higher prices but also because of techs reform and the volume america's economy has seen in the years after the crisis was financed with cheap money thanks to these low rates and if this is going to change this might affect the economy in
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a negative way because you mention trump his passion the terrorists the wall appears to know no bounds who's in the line of fire right now. well this also could be a game changer because champ of targeting two major materials steel and aluminum he has been making a lot of threats and we already have seen terrorists on solar panels on washing machines paper lumber but none of these imports are leading a good while both the steel and aluminum are being bought and processed by really many different sectors in the u.s. so this could have a major impact on the u.s. economy so if you should get reporting for us from wall street thanks a lot. well chinese tourists are still flocking to america even as arrivals from other nations are tapering off all the more reason for america's tourism industry to case it to the chinese already the most lavish
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foreign spending hotels resorts and department stores and luxury hotels in los angeles offering special deals in the run up to the chinese operations. europeans may have their issues with los angeles but up market visitors from china are increasingly feeling right at home here in the run up to the chinese new year the local tourism industry is leaving no dumpling unturned and the pitch to attract free spending chinese traveling the world on their holiday break the chinese new year is a big event it's a big stage in the calendar for rough road travel is the lunch we look at so you offer all the facilities that they may want to enjoy the things that would include things like lucky envelopes with two dollar bills here in new year macaroons with t.n. dim sum special seasonal gifts and chinese american newspapers. now the mission here how tour companies have hired chinese hawkers to lure visitors
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into boston's. compound and me yeah we're running numerous specials on the chinese market we're very excited about that so we were very active because individuals into los angeles from the us market. tourism to los angeles has been rising fast for the last seven years the city has a larger share of foreign visitors than the country as a whole and the biggest gains are coming from china. now an international donor conference for the rebuilding of iraq has failed to meet expectations united states had already pledged a loan was three billion dollars other investors in mocking billions more that all fools well short of what baghdad need it is all. rebuilding a country after decades of war doesn't come cheap iraq estimates the cost of close to ninety billion dollars q.h.
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the nation hosting the conference is one of many countries making financial commitments to rio. but three is to announce the state of kuwait's commitment to support our brothers in iraq by committing a one billion dollar loan under the mechanisms of the kuwait fun for economic development. but it's not all about loans iraq is especially keen to attract companies to do business it's offering projects in almost every area of its economy including the energy sector siemens c.e.o. joe kayser told t w his company is rebuilding for power plants about securing the availability of electricity is iraq's biggest challenge at present. the conference is taking place just two months after the country declared victory over the so-called islamic state it's not cheeseman the government is hoping will convince international businesses that now is the time to invest in the country's future.
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and i would have your thoughts on valentine's day millions of people buy into it with millions of love as around the world getting bouquets of flowers now with europe in the grip of winter if you were lucky enough to receive a bunch chances are your flowers came from somewhere sunny like kenya in fact they cut flower industries to the country's economy the competition from neighboring ethiopia is putting the business risk. at the syrian flower farm in central kenya all these stem to beauties are processed by hand from harvesting to bundling to packing for transport. tons of flowers are prepared for market on these work tables . the company's director hamish kerr runs a well organized and highly efficient operation each flower arrives in stores no later than two days after their cut people line up outside the packing facility every day looking for work the regional economy depends on flower cultivation where
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more than three off hours and people we are neither when it comes to have ethical trade so we're paying ostroff the highest in the industry for providing housing medical school and so in terms of the flowers that we produce they are putting money into people's pockets. the flour industry is the country's second most important sector after tourism. five percent of its economic output comes from cut flowers. here at lake ny bhatia growing conditions are perfect for twelve hours of sunshine per day cool nights fertile soil and enough lake water to keep the more than fifty flower producers here in business. the kenya flower council in the capital nairobi however is concerned about cheaper competition in neighboring ethiopia the head of the association says the ethiopian government is attracting investors with price dumping they get access to land they get the subsidies on
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even trade let me give you one example we can't land our flowers in the us at three point five to four dollars a kilogram. big europeans on this subsidized plates on their own in their every plane land. so don't bring it. don't speculate. as a result farmers are leaving. this flower grower abandon operations here to move to ethiopia. low cost operations to the north are endangering the industry in kenya with jobs and economic growth at stake if the exodus of companies continues at this rate that will be bad news for the flourishing flower sector in kenya. a dream for some harsh reality the others the life of a fisherman on the baltic sea not only do they have to be graceful rough winds and
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stormy seas a special up now monitors their every move not to protect the fisherman but the caught. blustering southwesterly wind here on the island of whom means any low tide fishing is actually the question today from now before the fishermen even step aboard they're both they have to activate their new muffy up it registers every net put out to sea to make sure they don't fish deeper than twenty meters and disturb the cards during the two month breeding season for the fisherman it's a step too far religion or game government will work with nature every day we know how deep we can fish there's no risk that a couple of fisherman are going to endanger the cod population. if. the new scheme also means that every fisherman must have a smartphone the first few tests have highlighted some teething problems. if you
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don't have any internet then the up 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 fisherman's lives easier the fishermen say they'd have preferred to be paid a bonus to stop fishing during the breeding season. well the value of iran's currency the reaal has hit a record low against the dollar prone to. a crackdown on unlicensed currency exchanges it used to fuelling too much speculation and he shut down ten currency exchanges in the capital tehran and arrested some one hundred money changes they blame the government for the reales downward moves and say that trading oil in us dollars ends up weakening the local currency. wow so you're up to date with the latest from the world of business more find us on facebook follow us on twitter. business i'll be back tomorrow same time same place right now here's
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