tv Business Deutsche Welle July 5, 2019 3:45pm-4:00pm CEST
the dog was welcomed the newly reelected government of india has promised an easing of foreign investment rules and more infrastructure spending it wants to boost flagging growth rates and create jobs it's about time china has not leap frogged india is the world's fastest growing major economy with unemployment in asia biggest economy at its highest since the 1970 s. . india's finance minister laid out her plans to double the size of the economy a campaign promise of prime minister number and remoting peterson ready within our capacity to reach the prize clearly a new restaurant in the next. we need to invest savingly in infrastructure in digital economy and on job creation in small and medium forms india has been striving to modernize its economy but with unemployment at levels not seen since
the early 1970 s. more needs to be done. the government's plan calls for new foreign direct investment in sectors like aviation media and insurance a cash injection for banks aims to end a credit crunch and there'll be tax relief for startups moves analysts say could boost the broader economy. if the macro numbers improve and things become more conducive to the money will flow to the broader market as well it's another step as india aims to emerge from china's shadow to become the world's fastest growing big economy. interesting plants but will they work let's bring in their josie john a business writer based in bangalore india targets in g.d.p. of 5 trillion u.s. dollars by 2024 that's nearly doubling today's g.d.p. i call that ambitious with new. actually it is indeed ambitious but and the she needs to be ambitious if it reaches 5
trillion dollars it will go all you can journey in terms of g.d.p. which he too brittle for sure but doing it in 5 years is a long elaborate rule for a 10 person to yoda to do to achieve that number not to be sure india has been a great person in the past but doing that what after quarter year after year is a long odds but one important point in this plan is a massive infrastructure investment something india desperately needs but can't the country finance that by itself. so one of the big things introduced by that was a big push in infrastructure across sectors theaters and instance and how saying we we what we evy share and there are a bunch of announcements and this to me does that india needs about $1.00 trillion dollars in the next 5 years to be able to finance this for example it gets to build up going to be 1000000 houses in the next 3 years to have houses for all of the
population now they don't stick to the and don't get markets just don't have that kind yet and you know we'll need to reach our all sort of thought which sure still kind of race that money out of the government already today announced that they will be doing solvent barb's and that's where you are the expansion plan. and the government also said that india wants to be the detroit to elect to electric cars how realistic is that. that isn't vicious 2 but in the right direction india has sunlight which. banners $300.00 days ago it's a natural resource that the countries we steam and involving massive amounts of petroleum to to run it beetles on its roots thought the he didn't isn't certain the right direction but the question is of numbers china is the world's largest market and the scale of $1800000.00 a year india cylinder a few few 1000 cars last year and
a few 1000 no 2 cars last year so it's going to be a long odds but then to have the kind of proposals meet today i did that i did it she won as the car manufacturers. to manufacture cars are more than half in fact and in fact and there's a lot of subsidy been going on into street on carbon to use i would buy an electric up but it will give you detroit of the world of the electric car well we should have that conversation in 5 years from now get josie john in bangalore thank you very much. says the head of its ailing investment division garth ritchie is stepping down at the end of july he's been blamed for the divisions we preserve the bank's supervisory board is expected to meet on sunday to discuss a multi-billion dollar restructuring which could see as many as $20000.00 jobs cult plans are also being floated to create a separate corporate bank to streamline services now spread right across germany's
biggest land. now let's go straight to our financial correspondent in frankfurt card what does that mean for b.m.w. . a bank robber to be on drugs coming up in a moment and is he really the only one responsible for results. well of course it's always a lot of people who you know cause problems of a large company like deutsche bank people now here are speculating what this means for deutsche bank will the bank potentially give up all of its investment banking but people who closely watch and monitor of the banking sector are convinced no that will not be the case the bank is likely to keep only those parts of its investment banking business which are profitable and which are likely to remain so the currency trading business for example parts of the bond trading business and
parts of the i.p.o. and m. and a consulting business for example christians even the c.e.o. of torture bank is likely to want to make sure that the market perceives the overhaul he's now planning not to be too little too late of course now everyone in the markets and here in frankfurt in particular is expecting next sunday when we will probably get the details of the plan called stay where you are because you know executives in germany are dropping like flies today the c.e.o. of b.m.w. how about will also leave his position when his current term runs out in april the company plans to talk about a successor of its supervisory board meeting later this month has been at the steering wheel of b.m.w. since 2015 the company has slashed profit expectations citing the growing cost of meeting higher emission standards and large investments in new technologies google has been criticized for b.m.w. slow shift towards electric mobility. now back to contribution
what does that mean for b.m.w. . well mr tips the man who is going to be the successor of mr cook has a reputation of being tough then mr kluger who as a boss was very much as a moderator he also tried to moderate pretty much the car make up between those old technologies large combustible engines for large s.u.v.s and sports cars and all the other hand you cars the quanta family which is the majority's shareholder act be m.w. was said to be unhappy with this strategy of trying to go both ways they are said to have blame mr krueger for giving up some of the competitive edge that you had with electrical engines in the past so it's likely that we are going to see a bold move towards the future for the car maker on models in france for thank you
. the european union has spent several years trying to advance the economies of the western balkans it's got competition on its hands and montenegro china is pumping funds into the e.u. kind of it states that at an increasing rate buying companies and investing in infrastructure. china's road and bridge corporation is building a brand new highway across montenegro from the capital pago richer to neighboring serbia price tag 840000000 euros an entire village of construction workers has moved in from china for the project one of a series of construction contracts won by the chinese in the balkans. is part of china's belgian road initiative or new silk road the global infrastructure project which will transport chinese goods directly to europe chinese investors are also taking over profitable businesses like slovenian kitchen appliance may could go in
year which produces mostly in serbia. but they're also buying up some of the struggling heavy industries left over from former yugoslavia beijing paid 45000000 euros for this ancient steel plant it's made out of all rescuing 5000 jobs in what was a somewhat crisis hit region. china's multi-million offer for the former state owned couple mine r t b in the eastern serbian town of bor also trump the competition copper is now being produced there in line with chinese standards. financial analysts like book of esther bank in vienna say this is just the beginning of some problematic developments. and for of course china has an advantage it doesn't ask about what the democracy and political conditions are like there it also isn't worried about the legal situation which of course the e.u. is already doing from a government point of view. that gives chinese companies an unfair edge in
tendering procedures and other age they have over european companies is that the millions in loans they get from chinese state banks are often interest free and paid back over 20 to 40 years by which time inflation will have cut their value in r. and the balkan states especially which had for a long time hopefully you membership now prefer to look to china. says europe has lost out on some economic opportunities he shows us the plans for the new pelias schatz bridge in croatia it will connect the southern coastline with the rest of the country even in e.u. member croatia the china road and bridge corporation snapped up the contract beijing is planning a total of 900000000000 euros for its new silk road and wants to do a great deal in the balkans regardless of the implications. well one of the problems china's economy is facing is about the reputation for poor workmanship and
that even applies to some of of its most sophisticated products like new a passenger trains the china rail 200 j. was launched a great fanfare and january connecting cities over existing tracks at speeds of up to 200 kilometers per hour about $21.00 of the $23.00 engines produced in the dolly on factory have already broken down that's a 91 percent failure rate and that's it from me and the business in a. spacesuit of a v.w. news is coming up right after this and right after this quick look at global mom.
eco india. how can we fight congestion traffic chaos and air pollution. that's easy driving the scooter. or young starting from kolkata runs an app based scooter rental service. a smart solution for a cleaning by. scooters in india. keep the team in d w. d q you know that 77 percent of poppy kind are younger than thanks a lot. that's me and me and you. and you know what it's time no voice is not part. of the 77 percent the talk about the issues stuff. this is where you. know 77 percent this weekend on d w.
whatever we begin to do the day we're looking for a good bout of c o 2 in the atmosphere and the increase of the temperature. reading 50 we have to start down i started to decrease the amount of c o 2 for them so now this is actually not a hard problem just plates will power over there are very important economic interests to all of the a lot of coal who own a lot of oil and are doing everything possible to make sure this doesn't happen we have to fight them by 2050 will be well on the way to reliable renewable solar wind and i'm optimistic that. we're not totally unsafe just b.c. .
this is t w news live from berlin and sudan celebrates an apparent breakthrough in its political crisis protesters demanding civilian government agree with the ruling generals to share power for the next 3 is can the plan for a peaceful transition to democracy work also coming up she's the top picks of the top job but germans and nelson pressed.