tv Business Deutsche Welle July 8, 2019 8:15pm-8:31pm CEST
it has to happen see right brother better soon i never i think is so very much alex greatly appreciate it and you're watching d.w. news album next free trade for a 1000000000 people worth trillions of dollars each year big class a fortune to double your business africa that's up next with gary hart al for us on layla rock n roll and i hope to see you again tomorrow same time same place. it's been 50 years since the. sheep was the 1st man to walk on the.
hardware. as a small boy she dreamed of the stars. so much she's seen anything no matter how to. go to the whole. business trying to be took part in the greatest adventure in history. neil armstrong was his destiny starts july 20th on t.w. . upon african dream that was in the making for decades spots with a free trade zone covering more than a 1000000000 africans across 55 countries britain deliver prosperity for every one . big game hunting has grown into a huge industry in south africa but it's recently coming under fire. not only
environmentalists are asking is killing our goals for farming trophies ethically and ecologically sustainable. business africa. has welcomed it could be an economic game changer and help lift millions out of poverty after years of talking african leaders have officially launched a free trade zone on sunday a market of more than a 1000000000 people a staggering $3.00 trillion dollars economic block if it works. the hammer has gone down on a deal to create the biggest trading block in world trade organization history national leaders at the african union summit in new shares signed off on the agreement reached in march to create the $55.00 country african continent to free trade area the aim is to unlock the continent's economic potential but boosting trade between these countries strengthening supply chains and spreading expertise.
in. the eyes of the world are turned on africa and the success of this deal will be the real test to achieve the economic growth that will turn our people's dream of welfare and quality of life into a reality and this will reinforce our negotiating position on the international political and economic status. during the summit garneau was announced as the host of the new blocks headquarters eritrea is the only african nation not to have signed up but it says it supports the deal trade within africa accounts for just 17 percent of the continent exports compared to asia's 59 percent and europe's 69 percent with a new bloc officially unveiled it's time for africa to start catching up. over here in germany dodger bank has announced cuts worth 7400000000 euros for the erstwhile flagship of germany's financial industry 18000 staff will lose their jobs as c.e.o. has done saving closes down the bank's loss making equities trading business and
france's bond and rates trading operations significantly. investment bankers were the 1st to go entire teams are given the sack on monday from sydney to london. and could concentrate hard in this sector for years but to no avail this year it's not going up yet another round of losses for the 4th time in 5 years the restructuring measures announced on sunday are aimed at freeing up the remaining divisions of the bank it's turning its back on its ailing international business and focusing on the domestic market. we've been planning for quite some time that after achieving stabilisation last year cleaning up the balance sheet having costs under control now we want to take the next step and that's to align the bank with its strengths and that's what we have pleased to announce today that the. bank was devastated by the global financial crisis and the share price is yet to recover legal disputes compounded voices
problems the bank was forced to pay billions in fines for russian money laundering breach of sanctions against iran and syria and for its role in the subprime mortgage scandal we're e after years of uncertainty someone bester see this radical reboot as an opportunity. dawdling around for the last few years is now over the steps are being taken to give the bank a new direction and that's what's been missing for the past 5 or 6 years from 6. even those most acutely affected the employees except retrenchment is necessary. and if i take a painful step today at least it hurts in a socially acceptable way and that can help move forward into the future then it's important we go along with it. puts the cost of restructuring at $7400000000.00 euros however it hopes that will enable it to retake its place among the world's leading financial institutions some analysts are skeptical whether the measures go far enough to solve problems and restore the one time poster child of global
finance to the top tier. now to some of the other business stories making headlines around the world there are saudi arabian airlines fly a deal has withdrawn an order for up to 15 year olds grounded to 737 states and has said it will switch to address the decision will cost boeing close to $6000000000.00 and comes off the 2 deadly crashes of the passenger jet. the turkish lira fell today following the ousting of the head of the central bank by turkish president receptors at a one governor setting kyle was let go without an official explanation phasey pressure recently from the president over refusing to lower interest rates. the import of russian oil via the in famous infamous brush bought pipeline through ukraine has been halted again a german refinery discovered consummation over the weekend in a pro russian supplier caused massive damage after pumping millions of tons of
contamination oil through its pipelines. the game farming industry in south africa has 4 pillars of auctions of game trophy hunting eco terrorism and animal products those sectors now worth around one and a half $1000000000.00 a year more than half of which comes from hunting while critics call it cruel and unethical many locals depend on the income and insist they're doing business in a sustainable way. but less than 30 minutes until nightfall south african professional hunter tony de braun on his american clients are looking for a golden will to beast it phil kloppenburg succeeds in killing the animal he will paid professional hunter 6 $1500.00 for it kloppenburg is one of the estimated $8600.00 trophy hunters who visit south africa each year. having in south africa has made more variety of animals much different than what we have in this united states so it's
a much different style of hiding in the united states trophy hunting alone generates an estimated 600 $94000000.00 because according to a 2018 report by the department of environmental affairs we look for the old. that is not breeding anymore and that's not going to leave the in other words i'm not going to expose the conservation value of brea they've done everything that was supposed to do on this earth now they're going to america. the game industry in south africa has mushroomed over the past 20 years after legislation was passed in 1901 the permitted the private ownership of game animals. since then the number of private game farms has risen from 3500 in 1902 to over 10000 farms in operation today. well it's the only industry that south africa has a unique comparative advantages in terms of the nature of the species that
we farm with as well as the nature of biodiversity of south africa being the most by this country in the world. it's not all about trophy hunting the industry also depends on eco tourism game auctions and animal products like biltong tasty dried meat snack. healthy. but i really not. wherever it is easy to eat snacks it was good to me to get substituted for a meal girl's really just good so that every. game farmers are now pushing for legislation that will allow them to slaughter game on their farms which wildlife ranch in south africa says would exponentially increase production for both domestic and international markets. let's talk about game farming with our
correspondent elise fungo she's joining me from cape town ellis there's a lot of talk about sustainability in the game farming industry in south africa is hunting sustainable yeah that's indeed the big debate is a sustainable and is helping conservation as also the game hunters and the owners of the game farms we're talking about and you know reports that they say they get their hunting companies we're actually making money by that one lion that's being shot so we actually getting more money breeding programs we make sure there's more habitats for for animals to live so we are actually helping that sustainability on the other side is animal rights organizations that researches that are saying look that industry is not very transparent it's not always the case that they take out the old animals for example and it's a commercial business that is that is cruel and yes they do breed animals as well for the hunting so you could say maybe you know that way and numbers are increasing but on the other hand those are not wild animals and called be introduced in the
wild so so if that's the big and fierce debate also in your own in south africa there's been a lot of criticism from a more us activists in the western world calling all recreational hunting ethical doesn't this view collide centuries of hunting tradition. yes of course there's traditionally in south africa and southern africa hunting hunting was keen to do so 5 and still there are there certain populations that the sun and books one of the upper topple saddam still hunts but that's a real hunt they go out and they retract the animal i.q. that's and used the means used to hives i think the biggest debate here in south africa is about what they call can't hunting and that's where the animals are basically bred in cages they grow up in enclosures and then off in the westerners come in and kill those animals so they've basing saying that the animal doesn't stand a chance you know this is not
a real hunts they basically go hunting for 14 animals and a new dad that's why does also being out here from organizations also when you see them dispose of the westerners coming in and and. like to discuss just not equal fights very briefly i was recently released u.n. report warns that around 1000000 animal and plant species are now threatened with extinction is hunting come true beauty to species extinction briefly from. i think it's mainly poaching that's that that's causing the expansion but there are there are organizations now it's awful someplace that africa now that they're talking about folks out for hunting are leopards and their organizations are now saying there's there's not enough left for of left so let's stop that hunting altogether because every yeah every every single leopard now now counts so they are saying like hunting us contributes in that sense and shoot so we stop to just say
the species i was from golda thank you very much. the government in zimbabwe is raising civil servants pay for the 2nd time in 3 months so that it turns to question the effects of inflation at 100 percent the country is struggling with all the highest official grades in the world the pay of ordinary zimbabweans comp keep up with wising prices in this food and fuel shortages. power cuts harare has also banned foreign currency used to instill some confidence in his new local currency the r g g s dollar. and that's it from me and the business africa team. thank you very much for watching.
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