tv Business - News Deutsche Welle March 26, 2018 1:15pm-1:31pm CEST
a comment to hear people who are very poor say well he gave up our rights hoping that c.c. loose at least revamp the economy and that hasn't happened so we're not sure how we got to this point. that was ruth michael so they're talking to us a little while ago from cairo monica's going to be with you in just a couple minutes should be taking a look at egypt's economy and much more still to come here on. earth the home we're saving googling to those two stories of creative people and innovative projects around the world ideas to protect the climate and boost green energy solutions for global warming due to its being born series of global three thousand on d.w. and online wouldn't be fighting for the case to be taken seriously in the world of
work here's what's coming up. on w o they do this deal superhero on a mission to change how to smart women smart trucks smart street and legend isn't buying no movement down on the brain creasing dangerous time. to make . a good. trade talks replace a new main trade war beijing and washington have started negotiations aimed at easing trade tensions between the world's top economy. coming up egyptians going to the polls to elect a new president we ask how good of ministration been for business.
is it a sign of failure or a clever business strategy. treating from the asian markets selling its southeast asia business to main rival grab. and it's practically worth nothing india issues a special one rupee note to celebrate one hundred years off rupee banknotes. but come to business south korea has agreed to cut steel exports to the united states by thirty percent in order to avoid trumps tariffs south korea's trade minister described negotiations with the u.s. as fear but it's fisted his country wasn't in an inferior position the asian country is the third largest exporter to the united states after canada and brazil the pledge to reduce steel exports is part of revisions being made to the existing free trade deal between the u.s. and south korea. need while china's foreign ministry said that beijing was willing
to hold talks with the united states to resolve their differences over trade of the weekend china's newly appointed finance minister want washington to rethink its trade policy and threatens to retaliate by hitting u.s. agricultural exports. according to the report the discussions will be led by china's economic zaarly you heard us treasury secretary steve mariucci and u.s. trade representative robert blair kaiser topics they'll cover include manufacturing and financial services u.s. president donald trump it recently announced cherubs of up to sixty billion dollars in chinese imports the chinese have said they won't be bullied. the mummy found they did misjudge the situation and underestimate china's determination and capacity for defending its legitimate interests they also underestimate the price the u.s. has to pay for its reckless behavior. u.s. business leaders in china are warning that
a full scale trade war would not benefit either side. the response from our members has been one of concern that these actions put we are a trade war which is something that nobody wants to see at the same time it's important to recognize that there has been a growing sense of frustration within the business community about the lack of progress and market access openings in china is increasing use of industrial policies minucci an unlighted hisor sent to you a letter last week spelling out a request including greater u.s. access to the chinese financial sector and the reduction of chinese tariffs on u.s. vehicles it also requested china increase its u.s. semiconductor purchases minucci was reportedly also considering a trip to beijing to continue the talks. rice hailing firm is selling its southeast asian business to big regional rival grap mocking the u.s. companies a second retreat from an asian market it's the industry's thirst
a big consolidation in southeast asia home to about six of them forty million people the deal is the latest move of what to shore up its finances and refocus its business as a head of a plant initial public offering will get a twenty seven point five percent stake in grab in exchange right hating companies throughout asia have relied heavily on discounts and promotions in the highly competitive markets driving down profit margins and increasing pressure for consolidation. of a more on this i'm joined by linda hong in singapore linda does this move mean failed in asia. well monica you know we were has actually been frustrating for investors already as it burns to billions of dollars since its founding in twenty nine and as you've mentioned it has a target to i.p.o. any needs to come up with the profitability and to appease its vestas who are possibly running out of patience as to when they can actually see their return so it's a new c.e.o. have promised to turn the company around to profitability with the target of twenty
twenty two now there's also this means a change of direction from focusing on its right healing out to its autonomy as a vehicle technology some analysts see this as a wise choice especially when the right heavy emphasis is really a cut throat and it's dependent on as you've mentioned before just not promotions as well as discounts and in southeast asia you have grep that's actually backed by big sovereign wealth funds our fellow singapore ian to mustique and then in indonesia you go to indonesia you see gold jack which is a key find that by ten cent which is also a very large investment company in china so these are the things that perhaps has thought that it might want to make out its losses short of before it burns to more money monica of course it will be kept kept a stake of twenty one point five percent in grap which is a huge huge huge company in the region doesn't mean that it will but wants to keep the back door open to the asian market well in a way yes i mean keeping
a stake in grab is a way to deal risk its presence in asia while looking forward to better returns you know letting grab do all the fighting and we cause we see this as a form of merger where can actually work together to improve on technologies such as the right he adds so perhaps his mojo would also be a win situation for all but in terms of learning about how to improve. on the right to linda hong in singapore thank you so much for that. egyptians began three days of voting to elect a new president but there are few doubts that president up to fattah el-sisi will win a second term and his supporters say he's brought stability to a country which has been rocked by on rest since two thousand and eleven. the times may be turbulent but businessmen on cairo's streets seem to be content with their president. going after you bring me his replacement.
if you can what would his replacement do what does he present what will he present our president sisi can do it all. we want someone who we will be stable with. for. the support for el-sisi is obvious but have the egyptian people really done better during his administration unemployment has gone down slightly but it's still high at almost twelve percent and egypt's deficit has widened now at over one hundred percent of g.d.p. . a loan from the international monetary fund should help the economy twelve billion dollars six billion of which have already been distributed but the country needs to set a strict austerity plan in motion the government has to float the currency on international markets cancel energy subsidies and introduce a sales tax of fourteen percent. that's cause prices to rise and the egyptian
pound has lost value inflation has increased under el-sisi last year up a daunting twenty five percent. it's hard times for businesses. and yet they still support the president's plans. of course i will vote for president sisi vote for him for the stability of the country. we're living in stability. we have to keep living and stability. on the month that with. it's unsure whether all the gyptian see it that way after all a third of the population still lives below the poverty line. the indian government pulled all fife. hundred and one thousand rupee notes from circulation two years ago to curtail the illicit economy but that resulted in a catastrophic cash shortage eventually the crisis east when enough new notes were
issued and. while they're getting used to the new money especially the essentially valueless one rupee note printed to mark the currencies one hundredth anniversary. brand new one rupee bank note i've never seen anything like this during my entire time in india it looks real and even comes with a watermark quite elaborate given the fact that it equals just one euro cent but see what it buys. what it. once was before you know have you seen something like that was a was seen in my judgment. whatever it says was it was you i think the government gave us most of what. would you accept that. i couldn't see. who i would. or would you give me for that i want to be more yeah but what would
you give me for myself and question for thank you welcome that it was a free sample is all i get from my brand new one rupee would. normally indians tend to be very proud of their currency the rupee in old delhi you can even buy garlands made of banknotes wedding gifts even the old one rupee note gets on it here but only for display there's not been a single printed for the last twenty years. until this new series. but even though the recently introduced new bills are more colorful in the old ones the garment makers on happy with them. did you have an idea of the look the old fifty looks much better than the new one but those near bills are no good they look like fakes like toy money. india's central bank founded during the british colonial era is responsible for issuing the country's new cash it wouldn't
comment on the new one rupee note though something that has a surprising explanation. currency collects a capital doctor sheds light on the mystery technically the new one rupee note counts as a coin so it's used by the government and not the central bank and the only reason for the new singles is the one hundredth anniversary of rupee banknotes. even if you can't buy anything for it for us collectors the joy that there is a new one rupee note is beyond words. and it might pay to hold on to the new single the very first rupee note from one thousand nine hundred seventeen with a portrait of britain's king george the fifth sells for up to three hundred euros nowadays. that's. going to.
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