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tv   Business  Deutsche Welle  August 1, 2019 7:15pm-7:31pm CEST

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who were brave enough to fight against the last yoke of patients and especially no no it's all just talk about it communism during the socialist times people could not talk about it and for the young people especially it's there was never as hot as it is today young people research shows are getting more look at reality they are getting more carefully conservative so i can see here in the streets many many young people all right there was a live here courtesy speaking earlier and i'll soon have a copy of. what secrets lie behind these memos. find out you know most of experience and explore fascinating cultural heritage science. d.w. world heritage through 16 euphemia. what
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keeps us in shape what makes us see and how do we stay healthy. my name is dr costa rica i talk to medical experts. watch them at work. and i discuss what you can do to improve your health. stay tuned and let's call and try to stay in good shape. conti w. african officials voiced their concerns about the continent's economic challenges local financial policymakers gathering gonna look will they listen. markets are up and running but in which direction comments from the fed heads broad based dollar rally and noshing markets don't south. africa's biggest oil producing nation nigeria could face industrial action chevron is embroiled in
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a labor dispute with the unions and and you british prime minister brings you worries for business will break that brinkmanship end in a much greater no deal. and then fizzle and let's do business it's a chance for the collective african voices to be heard officials from the international monetary fund and world bank a meeting with the confidence financial leaders in the ghanaian capital accra africa need stable growth to provide income and jobs for its rapidly growing populations despite an abundance of raw materials and fertile land the opportunities are not being exploited to the benefit of the majority take a look at growth figures overall the economy of sub-saharan africa grew by just 1.65 percent last year and the conference 2 biggest economies are still only modest figures and i do an economy grew by less than 2 percent as you can see south africa well growth there was well below one percent so how can these figures be improved
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and what can the financial institutions do to promote sustainable growth well let's bring in al correspondent isaak committee who's in accra. surely there is a lot that both the world bank and i.m.f. can change policy wise to stop benefiting africa. yes and that has been one of the issues that has been raised this far on the larger the issue of conditionalities that eventually bedding some of these african countries economies and then make them remain in debt for a long time by the composition has changed a little bit at a forum the focus has now been on the countries finding a way to depend less on the i.m.f. and the world bank and that has been a key change of tune at this particular forum will it work to depend less on those institutions how would africa generate sustainable growth so the focus now is that they want to develop the human capacity in terms of the people
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who need to be skilled wise so that it can create jobs and also employ young people also the need for african countries to begin to manage the irish sources better and not to let them be exploited and transported out of perhaps out of africa in their own my curiosity is more focused on actually explore exploiting or developing the iris or seas and actually manage them managing them properly and also trading among themselves actually on the continent. we've lost her 2nd and see if we can get him back. i don't think we will unfortunately we were just talking about trading and wanted to talk to isaak there about whether or not africa is going to eventually manage to form a proper internal trading bloc of course that would be something that would help the continent grow there are many challenges holding back africa though we'll have to get on to that subject another time in the meantime move on to the global
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economy and its fears it faces a slowdown along with the never ending trade war a cautious fed chief drawing power has made a modest interest rate cut but he says it's not the beginning of a long series of rate cuts that send the dollar soaring while kicking the euro and emerging market assets to. the us federal reserve cut its main interest rate for the 1st time in more than a decade and emerging market currencies were hit hard as the u.s. dollar strengthened. the said african rand was among the biggest losers it fell by one percent against the dollar hitting its worst level in 6 weeks. other currencies also declined in value against the dollar sterling hit a 13 month low while the euro fell by no point 4 percent earlier is in stocks also fell to a 6 week low on the news. u.s. fed chairman jerome powell didn't say the interest rate cuts would be the only one
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but he did say the move would not be the beginning of a lengthy cutting cycle by the fed those comments appeared to have disappointed investors. u.s. president trump was also disappointed. he tweeted quote what the market wanted to hear from jay powell in the federal reserve was that this was the beginning of a lengthy and aggressive read coding cycle and quote. the rising us dollar may well spend some good news for exports though another thing that isn't likely to cheer the u.s. president. some badly is open for business again that's the message president m.s.n. money wise sending to foreign investors by repeating his decade old indigenous asia over appealing its decade old indigenous asian legislation the law forced foreign owned businesses to sit at least 51 percent of their local operations to back black zimbabweans and god will remove the requirements for the mining of minerals last
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year except diamonds and platinum and now he's opened those foreign organs as well . one of nigeria's largest oil and gas unions is threatening industrial action adverse stuff industry with chevron and i jury a union of petroleum and natural gas workers accuse the american oil giant of sacking hundreds of nigerian workers and open contracts violating an agreement the union is demanding to be in statement to union executives and has given the company 7 days to respond by jerry a is africa's largest oil producer. and let's turn now to economist johnson should he joins us from lagos 1st of all let's clarify the situation just how many people have been removed and what sort of positions are we talking about here i'm definitely going to find you know about whether they are going back. by.
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and what sort of industrial action we are hearing from the unions. when they attempted to go on nationwide in the selection which will of our. returning nothing but the guidance. and the young men by product rather than mr madoff since the cover of a. nation wide strike we're talking about africa's biggest oil producer here a huge industry and a huge revenue source for the country what sort of effect with this have on the economy when i didn't know and then get to life. on the left and then in the district are. coming up in the country. that's what i where there is because it's an aspect. ready because we don't have a web. effect similar to the
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query for the for the country to literally have a major effect on what it actually. can you explain why chevron is going about this everyone is claiming that never love production has gone down well i think. and they need to live by yellow cross language of one of the production so that's why they're running if it cannot. be a low cost and just lastly how about a state is nigeria's oil sector and when it comes to infrastructure as well as its abilities to refine oil it's still so dependent on imports of refined oil whereas it's producing so much courage. interesting another way to kind of the continent just walk in today to find out about nancy's been measured 5 percent of clearly or
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they have gone up in a country i thought i had a country so we had a knife. on imported we had to come up for grabs because they found it on the walk and basically because the countries implemented was. not market friendly oriented but president nectars and this is a number that has suffered as the s. africa added in the final when i was finally because we have to rely on the plans of the government we have to say we got it and i. want to show economist the chief executive johnson. a couple extra 1000000000 pounds that's what the new british prime minister is putting aside for a no deal breaker. in the job but the nightmare scenario the business world didn't want is becoming a reality. right now the opel plant in port is closed for
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a summer break but soon it might be shut for good leaving a $1000.00 people out of a job. would not be a true britain any longer getting made elsewhere in europe. has been working here for 40 years he worries about bricks and the plants future. of what we build here to 24 countries in europe all of them. it would be a disaster that opel. and in general in london no one seems to care what's best for the u.k. it's what's best for the cities within the. far in the north of the country in scotland they seem to agree the new tory prime minister boris johnson was not particularly welcome the leader of the scottish government set scotland could leave the u.k. in the event of a no deal breaks it boris johnson seemed unconcerned by the worries of the scots or
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the problems of the auto industry. it is a sector facing difficulties but very much just in the last few weeks you've seen big investments coming into talks would many going to be built by b.m.w. a new electric vehicle to be built. 1000000000 pound investment by jail in birmingham we will do everything we can to address the issues of just in time supply chains but we are going to go ahead and come out of the e.u. on october 31st. johnson seems more than willing to oversee a no deal. even though the british chamber of commerce sees that as a worst case scenario. johnson says the industry's warning so overblown many voters. agree even those who might soon lose their jobs and.
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many here would vote for it again like luis whitby who barely manages to pay the rent for her beauty parlor. ab fab and all the hoopla change will suffice just say all the hard work yes i will survive holly on the balcony the beginning but there will fall morning when off to bed people on. she might be in full room.
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bursts. of species. a whole new world so if you come. here those are big changes and most start with small steps but the ideas tell stories of credence people and innovative projects around the world. like music pictures to lose 2 great shots and resources
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should play to interactive content judgment and next generation nobody took a child should. play music channels available to people to change connection was and were determined to build something here for the next generation along. the environment series of global 3000. cuts. this is africa coming up in the next 15 minutes one yet off to the 1st case of the volcano was reported the outbreak is intensifying more cases have been confirmed in the densely populated city. prompting one debt to close its border with the d r c. and the south african team a just taking on gun violence will tune in today radio show where people who've been affected by crime are finding their voice.

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