tv Business - News Deutsche Welle September 12, 2018 3:15pm-3:31pm CEST
well find out where the money is going. and how bangladesh has managed to narrow the gap between rich and poor and fizzling we'll have those stories coming right up for you in business. on. earth. home to news of species the home we're seeing. here which is on those are big changes and most start with small steps global ideas tell stories of creative people and innovative projects around the world like to use has created the climate blues to green energy solutions and reforestation. they
create interactive content teaching the next generation about environmental protection and were determined to build something here for the next generation of the one theo's the multimedia environment series phone d.w. . the numbers are in new york is now the world's most attractive financial center and huge study says breaks it has made the british capital london much less attractive to finance use. the world economic forum is hosting a ten member states in hanoi looking at the huge economic challenges in the region faces. and ten years on from the global financial crisis inequality remains a major problem in asia. let's do business
your book is now the world's most attractive financial center according to the latest financial senses index rankings a base on infrastructure and access to professional stuff london now second to new york the u.k.'s decision to leave the e.u. has made the british capital less attractive. to the european single market breaks it remains uncertain so several major financial institutions and moving jobs from london to other cities in europe including amsterdam and frankfurt. let's take you to frankfurt where conrad boozing is standing by our financial correspondent just how durable is a shift to frankfurt conrad i know a lot of bank is have already moved to removing. the language barrier of course and the question of infrastructure. that's true but what i can tell you is that a lot of us going on here in frankfurt so that the infrastructure remains open for
business for example if companies have to go to court here in frankfurt they can do so more and more in english the legal authorities have increased the possibilities for dealing with legal matters in the english language and of course i'm mostly talking about financial matters and trade matters what's more i mean we shouldn't forget that english has been the most important language in the financial world and in the trade world for a very long time not only since bracks it german companies very often use english not only with a perfect accent of course not only without not always without problems but. they have adapted to using english on an everyday basis for example if new bonds are issued the terms are usually in at least both language they are very
often in english and german and i can tell you that if you look at those terms closer all of them make sure that the companies are prepared for all eventualities for all the possibilities in terms of brecht's that as far as the same it goes it's always been in the english language cinema there and hasn't there been along there and your english is great conrad i have to point that out now and the other topic today the interesting and also involves break that the european commission president. was talking about it and was also talking about strengthening the euro but what was he getting at there. well you said. he thinks it's funny or criticize that europe you know pays for eighty percent of its energy imports in u.s. dollars and of course what he was getting at was the most the very important role that the u.s. dollar has in international trade which allows america which allows the u.s.
government to have a very strong influence on everything outside the american jurisdiction of the latest example is of course the iran sanctions where the u.s. government can impose sanctions on european businesses as well what you can call wants to make sure is that the euro becomes more important as a reserve currency worldwide and they can tell you very slowly the euro is getting there during the last three years the euro's market share international financial transaction has increased from twenty four excuse me from twenty five to thirty four percent the dollar at the moment has around about forty percent interest on our boson thank you very much from frankfurt. now it's the biggest world economic forum in the region to date ten countries that are part of the association of southeast asian nations are meeting in vietnam's capital hanoi to
discuss economic challenges inequality and digitization. where the casbah claridge reports. business has been down here for years but there's little digitalisation apparent in old town. just a few kilometers away however visions of the future are being discussed this huge congress center is in the modern business district of the vietnamese capital and it's here that the world economic forum is meeting never have so many southeast asian leaders attended the yearly events. vietnam's prime minister is promoting the region he says is already home to the world's largest economy digitalisation would drive growth further. we've been the world's factory and till now that creates growth but now we'll see
faster growth through innovative ideas. but the downsides of a technological revolution are also being openly discussed in hanoi millions of jobs could be at risk and inequality could rise especially for women what we're seeing with the digital economy and as it grows is that the great strides that the as countries have made in closing the gender gap is actually widening again. we're seeing that women have less access to the internet less access to mobile phones. every person should be able to afford a smartphone that's one of the demands here that at least would give everybody access to the digital economy. this weekend marks ten years since the collapse of lehman brothers which triggered the global financial crisis it hit asia hard exacerbating inequality in many cases but bangladesh has managed to narrow the
gap between rich and poor also thanks to the actions taken by one social entrepreneur. there this is a school in a poor neighborhood. here children from underprivileged families have an opportunity to get an education. good. or who can know what lay has an op ed found at the school he gave up his career as a corporate executive to establish brock in one nine hundred seventy two it's now one of the world's largest non-governmental development organizations it operates throughout bangladesh and in ten other countries in asia and africa it's a stoppage tens of thousands of schools launch community based health care programs especially for mothers and young children and provides micro credit so women can start their own businesses extricate people from poverty from different angles not just improving in the when employment but also improving you know unities so that
they can. have access to education access to healthcare and access to a more dignified like that for people. in the newly industrialized countries of asia the gap between rich and poor is vast and growing according to the asian development bank the income of highly skilled and educated workers has been rising while the mass of the low skilled has been declining. in indonesia wealth inequality is particularly extreme class and education are key factors but also gender a study by oxfam found that women's wages across asia are between seventy and ninety percent of men. u.w.s. about where the cast is that the asean summit currently underway in vietnam she caught up with former indonesian fight as minister. i asked him about rising inequality and how to tackle the problem. well as a former finance minister of course the obvious instrument for this would be
difficult policy. increasing the tax ratio in order to make sure the debt spending and social assistance you know could be made because we have to have enough money for that but the second one is also to improve. the sign and thought of the thing about the social spending. let me give an example on the issue like. pension yeah we need to do the human. being to protect the poor we need to make sure that the one who get a benefit of the support will be the poor people let me give an example in the case of indonesia we subsidized the poor for fuel subsidy but in fact the one who got a benefit put his feel subsidy and middle and upper class and not the poor so giving a subsidy through you know like the fuel subsidy it's better to give like a cast on a conditional catch that ends well that kind of policy is very important and also. in all financial inclusion access what a poor people and also to address the issue of this you know.
income and individual income by providing equal opportunity for the people like spending on education and also in health thank you very much thank you for that interview. fully into the finance minister there talking to our very own manuel acosta claridge ryan is c.e.o. michael o'leary says his company will roll over in response to strikes by pilots and cabin crew it made the comments in response to a walkout by german pilots and cabin crew stuff which resulted in the cancellation of one hundred fifty flights in and out of germany today it's the latest in a string of strikes staged by ryanair workers who've been called by to pay and working conditions. and finally there's a shortage of potatoes in germany and prices set to rise this year's harvest came in below expectations. record temperatures and no rainfall most badly several crops
failed at thousands of bombs the german farmers association aust one billion euros in aid from the government recently. pledged less than half of that amount said it will give three hundred forty million euros that means farmers may have to pass on some of their losses to. them. and you may think they're potatoes so what i'll tell you the germans. had great i was doing business with him.
staying up to date don't miss our highlights w. program online w. dot com hi laura. i want to welcome to another action packed show is me or host of meghan lee we're covering lots of ground today so let's get right to it here's a look at what's coming up. digital displays the top london you see and features a videogame exhibition. creative unnerves featuring top selling wines from germany's of mosul region.