tv Business Deutsche Welle July 18, 2019 6:45pm-7:01pm CEST
like bitcoin to me. like it was all in let's do business sluggish growth story outlook and interest rate cuts back on the u.s. federal reserve has signaled that it will lower rates soon so could the european central bank but south korea isn't waiting neither is indonesia both central banks taking action today analysts say other asian nations could follow in korea's case the timing was unexpected but trade tensions are rising with japan tokyo has put curbs on here exposed to sold high tech industry that could slow global supply chains for smartphones and t.v.'s the dispute may have put more pressure on the trade dependent economies central bank to make the move to places. let's talk about this with daniel cope our financial correspondent in frankfurt that you've done today shows that this conflict is already hurting japan which is exactly what south korea focused. yeah exactly this interest rate cut by south korea has been
are quite a surprise today experts thought that this would most likely happen later this year we are learning that interest rates will be lowered from 1.75 to a level of only 1.5 percent this is the 1st time this is happening for since 3 years that the south korean central bank is making a decision like that and it said that they have to decide to do so in order to help the economy to recover a little bit of growth expectations have been declining there and also the inflation rate is lower than expected it is believed that it g.d.p. growth of south korea will be only a fall off a level of 2.2 percent this will be the slowest growth in the country since more than a decade and south korea is just like germany every export oriented country while this is happening the monetary fund the i.m.f. has one that global trade is slowing and it is urging countries to avoid further conflicts and we've got a very interesting statement from the i.m.f. chief economist let's listen in. this year's external sector report shows that the
world is doing less business with itself confused with the i.m.f. chief economist explain. we are seeing global growth global trade grew old slow which tells you that this is not just about shifting of trade to different parts of the world but an actual overall reduction in in trade so this is having a fundamental impact on global trade the i.m.f. points to international hostility as a cause global financial leaders have made no secret of the fact the trade war between china and the us is having an impact but i.m.f. economist peter gopinath says the bilateral imposition of tariffs has not had the punitive effect intended instead high a tariffs have been associated with increased prices for consumers and waiting on global trade investment and growth. the report urges countries to avoid further
conflict and repeats a familiar refrain that along with a disorderly brags it and school ation and trade tensions remains the main short term risk to the global economy. so daniel it's the consumer who's suffering most oh yes absolutely consumers and i guess also traders are paying a very high price at the moment for the trade conflict at prices of many products have been going up because of this reason and at the very end all of this is of course also hurting companies as well we have talked in the last days about dropping car sales numbers for example and it seems that the current economical sentiment is not really helpful right now in order to do a big investment then you're back to interest rate cuts what about the e.c.b. when's it going to start making cuts again. yeah that's the $1000000.00 euro dollar question at the moment what it is believed that all of this could happen this fall that's what many analysts are telling us that the e.c.v.
will most likely follow this worldwide trend that we are seeing at the moment but we also know that of the e.c.b. we'll get a new boss in a few months most likely christine lagarde who has already announced her resignation from her current position at the i.m.f. and many believe that she will listen very closely to the needs of southern european countries which economies are not as strong as for example the one here in germany or when you talk about france for example well with that we could possibly wait even a little bit longer for a change of the monetary policy here in the european union so it will be very interesting in which direction she will be leading the e.c.b. the new hope at frankfurt stock exchange. cambodia is taking legal action against the european union in january it introduced tariffs on cambodian rice to protect e.u. produces since then farmers have been turning to china say they prefer doing business with europe. preparing for the harvest.
in the province of prevail here in cambodia farms are often quite small. jasmine rice to be planted on this field a popular variety among european gourami's. the rice farmers are under contract with rice. the company offers them financial backing if the adhere to it strict quality control standards no artificial fertilisers or chemical pesticides may be used. for many years the prices were very low like that and now. in 2015 we started to grow organic rice and since then we have earned more i hope it will stay that way in the future any less and they get. it but. the company found a hungry market for its rice in europe it even built
a modern rice mill for around $9000000.00 u.s. dollars but it's questionable whether the investment will ever pay off a company boss songs are on must now pay an import duty of $175.00 euros per tonne of rice sent to the e.u. . post tax somebody and rice is nothing but. a policy for what we knew cambodia again tried to promotion oh come with the right. track to put and block from the right to do you much good. it's not it's not fair. for many years armory rice received help from their european partners for example in the production of organic fertilizers many women are also active in the cultivation of organic rice here and learned the necessary skills in intensive training courses.
no man can afford since the company came here our living conditions have improved. the message used to be the e.u. market is open and the sales opportunities are huge. but since the e.u. imposed custom duties on rice after pressure from the rice growing countries like italy and spain orders for on rice have tumbled by 30 percent i mean. try to find a new market china. that we would like because of. a huge market. most recently rice and its approximately $4000.00 contract farmers supplied around 30 percent of the use organic jasmine rice but now facing new trade barriers cambodia is putting up a fight taking the e.u. to court over the import tariffs. now to some of the other business stories making news the european union has fined to make
a call come 242000000 euros for what regulators call predatory pricing between 20092011 the charges relate to the sale of chips to a low cost which the e.u. says was intended to drive a rival out of the market. netflix has reported weaker than expected subscriber growth last quarter in total 2700000 new subscribers joined the service worldwide while the number of u.s. subscribers declined slightly analysts blame increased competition in the streaming market from rivals like walt disney and h.b.o. . and golden based online bank n $26.00 is now germany's highest value startup it's raised $419000000.00 euros in additional funding taking its valuation to 3 and a half 1000000000 euros which is the french capital comes as the company prepares to expand its popular brand of base banking to the united states and brazil.
iran isn't missing out on the rise of digital currencies many people there hope bitcoin could be an antidote to some of the pain caused by the reintroduction of u.s. sanctions but a recent crackdown on the machines used to mine the crypto currency has exposed a legal gray area. legal or illegal either way bitcoin mining machines are becoming an ever more familiar sites in iran in some cases like here in the market the province in the northwest entire batches are being seized by the police elsewhere though there's little sign of a crackdown. as the country grapples with renewed economic turmoil people are turning to mining the digital currency in the hope of generating an income in a currency they consider less volatile than their own but the practice has exposed a legal gray area. for the country has clearly turned into
a heaven for bitcoin miners. the business of mining isn't for bitten by the law but the government and central bank have ordered the customs bureau to ban the imports of mining machines until new regulations are introduced. and it's not only the hope of avoiding the worst effects of recency imposed u.s. sanctions that's making bitcoin attractive in iran mining the digital currency requires huge quantities of electricity which the government subsidizes but critics say bitcoin mining centers like this one recently uncovered in the city of abuse the system state subsidies being used to make a profit in a decentralized currency a new issue in the debate about the future of money. and its someone bite off more than they could. have been tossed once through list
the club had a belly that's according to germany's manager magazine to have turned over hosts affiliated company 10 or would confirm the report last month the investment firm bought a 37 and a half percent stake in the cost of $125000000.00 euros plans to increase investment in players and hence its digital strategy and approved the club's global marketing. i say business.
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the state of the news line from the president's trump uses racist taunts against for minority lawmakers to rouse his republican base. supporters chime sounds have backers of clinton names the congresswoman will his riffs on race help him win another time to the white house also on the program the trial of a stumble of p.c. talk protesters accused of being part of a movement that swept across turkey in 23rd.