tv Business Deutsche Welle June 21, 2019 7:15pm-7:31pm CEST
heard. thank you. this campari the zombie eyes rattling foreign investors as the government looks likely to nationalize. increasing worries over resource nationalism is that necessarily a bad thing. and there's a conflict between iran and the u.s. over talks on ships is heating up u.s. authorities declare last bits of iranian airspace as unsafe and demand u.s.
registered aircraft avoid the sector. when the show rags to riches ties style at once for son of a fisherman is making millions today. fish on facebook. this is business africa. as well call it a bitter dispute between the government and india mining giant vidanta is raising borys over the nationalization of resources in africa zambia the continent 2nd biggest producer of copper more than 70 percent of its g.d.p. depends on its copper exports it can see zambia's for biggest mines the one that's been making headlines recently is this one here run by com coal a couple mines ok c.n. in may the zambian government decided to liquidate the business saying it had breached its license and sell it to an outside by this dismayed vedanta of course
which holds an 80 percent states and a stake in k.c. m. compared with the zambian government's 20 percent yet zambia courts have ruled that the indian company cannot take part in the liquidation process that is as shaken the wider mining community driving up fears of resource nationalism and driving down international cup of prices to talk with more about this story joined in the studio a chip on the chin bow. tell us why is this such a big. a dispute over case how did there come about well this is a dispute basically about who holds what money to whom the government says the down to owes that money in taxes and the dentist says does i mean government that money in some of the v.a. t. o. value added tax it has paid on the copper and that is part of the problem but the main problem is the legal proceedings as you mentioned earlier the down one hasn't been involved in liquidation proceedings it was actually started by the minority
shareholder which is in government and they are the ones who started the insolvency proceedings that led to the coup de should to liquidation of case yeah and that is the major problem so the downs are really has taken issue with the fact that they are not part of the legal process that could see them lose the mine there are fears now that the government is nationalizing its resources is that justified and why would they do that well is it justified most people would say probably not because like we've said the legal proceedings haven't seen the downs i like but it's a pain in them but in terms of what's going on the zambian government is cash strapped they have public debt of over 70 percent of g.d.p. and that's an issue so a lot of experts as saying this could be an effort of the by the government rather to actually raise some cash by selling the copper mining operation which is owned by the down south and that is kind of the worry at this point and this is the major
the major issue is of zambian government doing this out of desperation. so what's going to happen with zambia's copper riches well there's been government says this is a one off this is an isolated case and it's not about the whole copper mining industry so the glencore as well has the mining operations in the country and so does the canadian company 1st quantum minerals so they the government is saying that they won't be affected by this in terms of case we might see them get a new buyer may be next. next month rather there's i'm going present at said that they might be able to get a buyer. buyers lining up in 5 different countries including canada china russia turkey and it will be apparently everybody everybody wants a piece of copper mining industry is on the at least according the president i we don't know what will happen but maybe the next 4 weeks we'll find out stay on that story of course thank you very much of turning off the internet to
stop students from cheating sounds crazy but that seems to be what happened in field is wheat internet penetration is still low there but the country is rapidly modernizing more and more students are using their smartphones to go online even the growing software developer sector since the government controls the only telecoms provider in the country made it easy to pull the plug to stop students from cheating in the final exams. now let's bring in joy the ring bearer of from nairobi joy switching off the internet for the whole country what did businesses in ethiopia have to say about that. well businesses in ethiopia were quite quite upset you know because of the internet access in ethiopia is pleased that 37 percent we are also looking at the fact that if you be a host some international organizations because it's home to the african union and
so by extension of course there are so many services that would be affected and so businesses were saying that you know the government needs to come up with better ways to linage the students or come up with better mechanisms to manage the students cheating because this is hurting their businesses the figure is being pleased between paul a $1000000.00 and $17000000.00 a day lost just because of the internet shutdown and these intimate and outages started on the 10th of june all the way into the 19th of june i was in an added suburb or between the 17th and the 1000 on june and i could actually tell the internet during the day was really bad and it only came back in the night when it was business so i have actually closed shop. one of the long term effects on these there of these decisions in the country and one of the fastest rising
economies in africa briefly if you panel. well one of the biggest effects here is investor confidence because this is not the 1st time that has shut down the internet and it also doesn't help that you know these are only a one internet sense for your telecom and so we are looking at many businesses continuously using virtual private networks or big against 2 ounces internet every time it's shut down and the cost is not passed on to the cost immense and so this investor confidence that is going to be affecting if he'll be 8 is likely to actually also bring down the number of investors coming into the country and also we are looking at the fact in the long term should this continue it's likely going to affect just how much the country makes because we have seen that if your bill is one of the fastest growing economies in africa but should this continue to happen and that is likely to come down try to remember i thank you very much. there's
a military clash between the u.s. and iran looks only to have been narrowly averted the tensions are making the air above iran unsafe some of the world's biggest airlines avoiding flying over a section of iranian airspace after a u.s. military drone was shot down america's federal aviation administration has banned all u.s. registered passenger jets from passing through iranian controlled parts of the gulf of oman and the strait of hormuz other carriers are also taking action. a global hawk drone like this one has a wing span greater than a boeing 737 after one was downed over the strait of hormuz the u.s. federal aviation administration began to fear an actual commercial jetliner could be next the f.a.a. says the nearest civil aircraft was around 80 kilometers away when the strike happened in the busy section of sky it clearly thinks that's too close for comfort and is banned u.s. registered planes from flying over rainy administered waters in the persian gulf
and go for them on warning they could be mistakenly attacked that warning has been heeded by other carriers around the world malaysia airlines is rerouting flights that would normally pass through the area including its service between london and kuala lumpur. other airlines feeling sufficiently alarmed to follow suit includes germany's love tanser australia's quantas k l m of the netherlands and british airways they all say they'll divert around the area affecting some long haul flights between western europe and parts of asia and australia at the same time united airlines has canceled all flights between new york among by until further notice. u.s. media reports that president trump ordered military strikes against iran on thursday before changing his mind pushed up oil prices traders have begun to worry that an escalation could disrupt flows from the middle east meanwhile the flow of traffic through the region is already being restricted. now to some of the other
global business stories making the headlines today bank of england governor mark carney says britain will face e.u. trade tariffs in the event of a no deal breaks it is commons dismissed a claim by a leading prime ministerial contender boris johnson that international trade rules would keep britain high and dry deal or not doing. shares and workplace messaging companies slack have sold 50 percent in its wall street debut giving the app a valuation of about $20000000000.00 or as a steep loss last year 600000 organizations now use this are. now selling seafood on facebook life yes that seems to be a thing in thailand and thousands of hawked this is the story of a poor fisherman's son who is making a 1000000 a day now not yours of dollars admittedly but boss nonetheless it's still a lot of money more than $30000.00 euros a day is true rex to riches story. take it
take it it's delicious it's awesome that's how a new rack sero a time i advertise is his fried seafood on facebook thousands of watching and buying the live stream is very popular across thailand thanks to his mixture of fun and insider tips but will allow you don't use all. by feed the audience with ideas of me as a fisherman he knows all about the seafood products that i'm selling. i know when is the best season to catch seafood and which part is the best to eat so let me choose for you. in just 3 hours he and his team can sell around a 1000000 bartz worth of dried shrimp squid and fish that's 30000 euros worth my things haven't always being successful. overboard in my job gardener i started by trying to sell 3 kilograms of squid that i bought. i fried it to make it
look more interesting and i did the facebook live. but i didn't make any sales at all by we do or have a dog in the works right now. he then turned his broadcast into a show that is fun to watch and on top of turning a profit he's also helping his village the fisherman now sell twice as much fish as they used to he's come very far for someone who says that he's not a natural seafaring talent it seems his online sales talent more than makes up for that. maybe there's a career for me that said from the business team. not go away africa is up next right after this quick.
the cultural magazine. 21 gun g.w. . stores people who go for the information. they want to express g.w. on facebook and twitter the pope today is in touch follow us. this is steve happy news africa coming up in the next 15 minutes and precision demonstrations. thousands have been out on the streets in 3 cities they're disputing the results of the may 21st election that's. next it may say they want the system. their pro wanted bob to do justice to resign on