tv Business - News Deutsche Welle March 1, 2019 9:30am-9:45am CET
interactive content teaching the next generation. using the channels available to people. and returning to do something for you for the next generation. the environment series of global three thousand on d w and online. it's a lead. over exposed banks and deep structural problems the e.u. commission wants the government get your act together on debts and face another showdown with brussels and well nobody seems to be listening. in turkey the pressure of the lira forces many wealthy homeowners to sell their luxury riverfront villas and buy the prices incentives from the government on top turkish passport anyone. this is the business.
the european commission says it will wait until it's only presents its reform program next month before taking action against what it calls rome's excessive economic imbalances commission says high government debt and weak productivity risk for all the e.u. members commissioners rejected italy's draft twenty nine thousand budget in october rome's populist coalition government wants to finance election promises with new debts. italy's fashion industry is the world's undisputed number one it brings in some seventy billion euros every year and the eyes of the world are on events like milan fashion week. but these days italy's getting attention of a less welcome kind. the european commission isn't looking at trendy clothes but serious economic problems. a message to interleave is also familiar
that these are quite strong that it must take steps to improve the quality of food for the finances increase the efficiency of its public administration and also of justice system and hence its business environment and strengthen its legal market as well as the financial system the biggest problem for the e.u. is italy's massive public debt it currently amounts to more than one hundred thirty percent of annual g.d.p. that's far more than in most other each member states and the commission says that poses a risk to the rest of europe the italian government has ignored the broadsides from brussels the country's deputy premier has proclaimed a new welfare state with an earlier retirement age and income support for the poor . but state revenues are only expected to rise slightly this year and the economy
is forecast to expand by no more than zero point two percent according to e.u. estimates so the question remains how can it really escape the debt trap. another confrontation between brussels and rome around the corner let's bring in all of us meeting chief economist and a bit on back bank what will happen next will there be another conflict like that or will it be worse. there will probably be another budget conflict like the one we had last year italy is on the wrong track with its policies italy will miss its fiscal targets for the current year by a significant margin but in what currently is an economic downturn probably the e.u. commission will not want to pile so much pressure on italy that we get a major market event that we get a major blow out in the italian spreads which would hurt all over europe in the
ensuing uncertainty so probably there will be some conflict but i don't expect it to escalate too badly this year many of the populace around europe and especially in italy say that italy technically would be better off without the euro would. know that's absolutely wrong italy has a lot of debt getting out of the euro or even thinking about it would mean that italy would have to pay much much higher interest rates to service its debt and italy basically could not afford that italy is much better off in the euro and it only needs to look at spain to have another southern european country which benefits from reforms if italy takes the spanish medicine or returns to the kind of run these style reforms that italy could get back on the right track in europe talking about reforms one of the most important ones what must do now. the european commission is absolutely right italy needs to improve the quality of its
public finances italy needs to make its pension system affordable if it unfortunately is currently going the wrong way and italy needs to rein in its fiscal deficits to such an extent that the budget become sustainable in the long run until a year ago italy was on the right track but with the and affordable plans of the current government italy is unfortunately heading the wrong way and the e.u. commission is rightly pointing that out. of this meeting their chief economist of. thank you your welcome tesla is finally going up mass market the maker of electric cars said it would start offering a version of its model three in the u.s. at a price of thirty five thousand dollars tesla had originally announced the model three as an alternative to its luxury offerings but the car still sold for an average of
fifty thousand dollars it's too expensive for many customers to cut costs the firms that it was closing stores and selling more vehicles online. the crash of the turkish lira has not only hit average citizens hard even the rich are now feeling the pinch for many of them the only way out of the crisis is to sell their properties thousands of luxury villas in istanbul are currently up for sale for bargain prices and some of them are italy's snapped up by wealthy arabs because they come with a priceless added bonus turkish citizenship is included feet of used han explains. they both try to on the bosphorus is like a trip through istanbul's history. the impressive mansions lining the shores of the water weight are known as yeah lists in turkish many were built in the ottoman era
for wealthy openness. bayville as a some of the most expensive and exclusive properties istanbul has to offer and usually you only get close to that this way on the water but since turkey's currency crisis last year many owners are seeking to monetize their assets and open the doors of their luxury mentions to potential bias. the crisis has been a boon to tonic of fadil and who i hunt ion as a broker for luxury real estate fadel represents potential bias from the middle east to the villa they are viewing today is one of the more modest. aid rooms two kitchens and two pod this plenty of marble and a huge landing for a private yacht the asking price one hundred thirty million turkish lira the equivalent of around twenty one million euros all through the lots worse on a society around sixty of the six hundred here in. the moment the prices are lower
right now especially because the lira has lost value that's why demand is high or that it's as they do because. it's not just a property market on the bosphorus that has been changing dramatically in the past year while many turkish people can no longer afford to buy homes sales to foreigners have risen by eighty percent above all tobias from the arab world and the turkish government recently announced that foreign is buying real estate for more than two hundred fifty thousand dollars can receive turkish citizenship. my clients are currently investing in real estate. we're convinced that if they put down a lot of money today will be profitable in the future. turkish economy and valero recover sooner or later and then very fast meant to pay off.
of course and there is another reason why the waterside villa's a so popular especially with buyers from the middle east. many arabs are familiar with the journalists from turkish t.v. dramas but they've been on television over time in the arab countries because people are crazy about them. sometimes my clients call me and say i want to buy from my favorite series. the viewing is over for today the two realtors intend to continue bargaining. so it's likely that this mansion and its spectacular view of the bosphorus will soon change hands. bigger isn't always better especially when it comes to commuting take little. homespun arrive hailing service the two and a half year old company has ten thousand drivers operating in nairobi and over a million uses on its platform starting to be
a hit in other african countries too. the kenyan right having apps little might be competing with global players like hoover and tax if i can get but it's only valued at around seventy two million dollars on a fraction of its billion dollar rivals. without the deep pockets of its right ailing foes in the region c.e.o. come up with said little is competing with them by offering other services besides the ride. they can sell insurance for you they can and they can be like they can do all those little things that and that their income is that income so then if you're doing that then you don't need to start fighting just on the prices war that's happening at the moment little also has another market nisha under the right hailing apps it works without a smartphone that's important for people who only have normal cell phones the company works with mobile operators and introduced
a short code which allows it to identify passengers normal cell phone location to provide the right. to two and a half year old company has ten thousand drivers operating in nairobi and over a million users on its platform and last month a little even launched a bus service in nairobi now the company is also looking into offering home delivery service can use homespun right handing out proves that a little hard work can quickly lead to a little success. the united states is continuing its compan against chinese take a while away as u.s. secretary of state by pump a or arrives in the philippines it was greeted in manila philippines foreign affairs secretary. said the world should have its eyes wide open about the potential risks of using chinese technology in their data networks manila wants to modernize its telecom infrastructure but the u.s. is telling us why is a security risk. if you've been wondering why your business
where i come from we have to fight for a free press and was born and raised in the me telling nature she just wants to be a shadow and if you missed a first one official information as a journalist i have work on the strength of many can trust and their problems are always the same fourteen social inequality a lack of the freedom of the press. corruption who can afford to stay silent when
it comes to the fans of the humans on seeing the microphones to hunt inside to put their trust in us. my name is jenny person i work again. a warm welcome for berlin and to today's edition of arts and culture i'm karen homestead and we've got a gender bending show lined up with these top stories. american idol guard artist laurie anderson gets the run of hamburg's monumental effort how money for four days she's wowing audiences with her multitude of creative impulses. it's more than just a buzzword in twenty nineteen we take a look at gender sensitive product design and its implications for all genders.
and via not is germany's version of fat thursday when women take to the streets to claim they're part of the festivities a tradition that marks the start of carnival in the rhineland. but we start with the american artist laurie anderson who has never let herself be confined into any particular genre or box since her formative years in one nine hundred seventy s. new york anderson has been a figurehead of the oven guard morphing easily from musician to filmmaker to performance artist and even to inventor of electronic instruments and gender ambiguity is also a longtime focus of her artistic persona and here excuse me is what happens when you give an artist of her versatility.