tv Business Deutsche Welle September 20, 2019 6:45pm-7:01pm CEST
this is business and. indian stocks are up nearly 5 percent after the government announced a major cut to the corporate tax rates companies in the country will now have to pay tax at 25 percent instead of 30 s. and to boost the growth and encouraging investment india is the 2nd fastest growing major economy in the world after china but in recent months the pace of. slow. bring in the chatter chip from business standard in mumbai is this the right move at the right time absolutely right that i know when the right time in fact that the timing could not be perfect the prime minister of india is going to need to states big investors meeting in who will stand along with the president of united states mr trump is going to attend so he is going there with a lot of these as far as investors are concerned look at the way it was in india recently and factor today morning there was
a lot of you doom and fear among investors which is now of course bill and positive now the reason why investors were quite worried because the indian economy had slowed down to almost still 5 percent that are going down consumer product was down to almost 15 percent or low so countries without supporting jobs and the banks who are saddled with huge loans now i spoke to a lot of c.e.o.'s today morning after this is announcements were made and all of them have now talking quite positive what they call me they're saying they're going to get almost $10000000000.00 in their hands with this tax cut and they are going to go back to the drawing rooms and going to make larger investment plans and so i was next couple of quarters this and so and so yes this is certainly perfect timing as far as the government of india is that they have tax rates for new factories have been reduced to 15 percent of these measures especially encourage multinational companies very briefly if you can. of course as far as multinationals
is concerned david don't worry about the u.s. china trade war and they are losing their manufacturing bases in in china and india is the right time to invest that fact has been reduced to 15 percent and if you look at the other asian countries now india is at the lowest so i would say this is the right time to come and invest in india because from october 1 on words the country is open for business as far as them m.n.c. is that uncertain. for business standard mumbai thank you and now to some of the other global business stories making headlines today the new york fed is reported to have pumped 75000000000 dollars into financial markets this friday to compensate for cash shortage u.s. banks have been struggling to find cash and recent days pushing up short term borrowing costs sharply on the last week the federal reserve open market committee
lowered interest rates. japan and the u.k. of signed an agreement to ensure business continuity off the brakes is the british international trade secretary has been meeting with the japanese foreign minister in tokyo the 2 countries say that close closing in on a trade deal when the u.k. is outside the e.u. . mitsubishi corporation has revealed that it says that a trader at singapore based unit lost $320000000.00 through an authorized transactions japan's biggest trading house by revenue says the matter has been reported to the police trader was dealing in crude oil derivatives. apple's new i phone 11 series has hit shops in china the 11 trophy just 3 lens camera lacks 5 g. technology that let some to say it could struggle of the chinese market where competitive weiwei already has 5th generation handsets.
well today is the day c. is so cold climate strikes all over the world and the german coalition government has now reached a deal to cut germany's greenhouse gas emissions in half by 2030 details are still emerging but one thing is clear it is likely to affect every sector of the german economy meeting emissions targets will be a mammoth undertaking let's have a closer look germany's energy sector is the country's chief contributor to greenhouse gas emissions producing 311000000 tonnes manufacturing is also high on the list german factories blow 196000000 tons of fuel emissions into the air there followed closely by the transport sector 162000000 tons on its own housing and industrial buildings are responsible for $170000000.00 tons of greenhouse gas emissions and of that i would. which adds $70000000.00 tons of
methane and nitrous oxide to germany's emissions so pretty much all industries. produce producing too much c o 2 even though germany's share and global c o 2 emissions was just 2 point one percent last year berlin now wants to set an ambitious international example about what can be done to reduce c o 2 emissions but will it harm the economy in the long term an economy dependent on an industry producing cars and machinery of all sorts let's bring in chief economist. who joins us from frankfurt just what emerged so far has shocked some in the business world will it get uncomfortable for companies in germany. well i think the shock is far too pessimistic you have to understand that the big industrial farms and the airlines they are already part of the so-called u.p.d.
emission trading system for many years and they are used to pay a price when they produce c o $2.00 emissions therefore for them it's not a big change the big change. resulting from today's decisions of the federal government they refer to the consumers the consumer from now on has to pay. for c o 2 emissions when they drive a car for example or all when they pay for the heating of the apartment houses this is the big change but is this the way to keep to keep global warming in check and at the same time not kill of growth and well. well 1st of all germany is a small country this all is only works if all the other countries joins germany to bring down c o 2 emissions globally we talk of a global problem however the 1st edition today was that the emission trading system
after a couple of years will also affect consumers that means the price of c o 2 when you drive a car when you pay for heating the consumer will be reflected by this and this is very positively because an emission trading system sets a path for c o 2 reductions over the over the next years and this is the most efficient way to bring down c o 2 emissions however the big minus the government's additions today is that there's a lot of micromanagement you know subsidies for electric cars here subsidies for. energy there that means this is a kind of micromanagement but the government civil servants they canada know by which way to most efficiently reduce c o 2 emissions and therefore my understanding is that this is the end may be too expensive to bring down financially too expensive to bring down c
o 2 emissions focus on emission trading system this would be the most efficient way unfortunately we do not 100 percent go in this direction it's a compromise you're climate economist joining us from frankfurt thank you. thank you. well while politicians debate global warming and businesses hope any counter measures won't hurt their bottom line climate change is already very real in many parts of the world take a region in the south east of space consider it europe's vegetable garden we could go a year's worth of rain fell in just 24 hours with disastrous consequences for many farmers and ultimately consumes. it was the worst flood in 100 years and the destruction can still be seen a week after the storm houses and streets were destroyed. but it affected farmers
the most one of them is an tonio paddy this. his county flower was almost ready to harvest and now it's been under water for the past week the floods might be his downfall. we're making so little money. we can't go on like this. we're thinking about giving up agriculture i'll leave it in a few kilometers away vegetable farmer francisco sanchez looks at the devastation across his artichoke field pieces of asphalt are mixed in with vegetables. we don't know yet what the total loss is and this is what we need to look at our irrigation systems in the field itself is lost for the next 3 or 4 months you can't plant anything there for now and as i. was a fish into
a of the farmers association aside listens to the farmers. even if the extent of the damage is not yet known the affected area speaks for itself we think 300000 hectors in the region were partially or completely lost her mind you the question that many here are asking will climate change cause these storms to happen more often in the future at the university of more c o one goma's the baro knows that rising temperatures play a major role only that on the ice with a warmer mediterranean you can expect more violent weather phenomena but it's still unknown whether villa kerr more frequently when. the storm was devastating for farmers the representative of the farmers association is now concerned about the storm's effect at the market but when i get it i'm assuming that 15 to 20 percent of the entire production has been lost. so that up will feel robot. lemons for
export this company is still in business but the boss knows that many others are suffering from the storm. you know what i think if you can't get to the fields because there are no other water you won't be able to harvest your fruit that's the problem but fortunately we have areas that we can still reach even after a heavy rainfall that's why we've had no problems after the flood of the century business continues even if many fields are still under water. that's it from me and the business asia team here in berlin that we have a lot more business news on spark stories on our website which is of course t w dot com slash business also follow us on facebook twitter well here's a quick look at global markets up a soft. plug
los. lobos. close. this is t w news live from berlin the largest climate protest the world has ever seen so say the organizers as millions mobilize to protect the environment marchers and more than 150 countries to call on the world and world leaders to do more also coming up after marathon talks german chancellor merkel's coalition government makes a breakthrough on a 50000000000 euro climate protection package but will it be enough to satisfy both