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tv   Business  Deutsche Welle  August 8, 2019 7:15pm-7:31pm CEST

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more than $500.00 local politicians under arrest. up next here on g.w. this is africa where the battle for so called back of the top of the hour with more often snooze i was up a good the for. clearing to meet. not everyone who walks books has to go insane. good to talk to literature list 100 german must reads. every journey begins with the 1st step and every language the 1st word can be called the coaxing germany to
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such. why not born with him for her. to suffer it's simple our mind on your mobile and free. w z learning course. german made easy. to. spot a spot up that's the sound of europe's economic engine german economists warn off recession as trade wars escalate and economic damage disappoints. south africa's gold mines continue to lose their shine production is on its longest losing streak in over a decade. and rubies make you rich not to ship them overseas for processing cambodia tries to put some spa into its domestic gemstone industry. make friends with
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a switch to the face of the regime. with the nation's. business some experts say europe's biggest economy in a recession the big german engineering firms car makers and supply crisis hit by profit downturns a lot of companies a cutting jobs all reducing hours it raises the wrists of a global recession. europe's economic murder may be running out of gas automotive supplier continentals net profit slumped 41 percent in the 2nd quarter and the company has announced plans to shut down an entire factory competitors shift also lowered their earnings expectations and said the stuff would have to be let go falling demand is hurting steel companies like to the company is bracing for a loss this year. and exporters are feeling the squeeze from the u.s.
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trade war and brics it worries for economists the signs are clear germany is heading towards a recession. overall industrial output in june this year was down one and a half percent compared to may that was a bigger drop than analysts had been forecasting compared to june of last year it was an even greater fall 5.2 percent the biggest decline since the financial crisis broke a decade ago industrial output is expected to drop further in the next 3 months. germany's 10 year bond yield has hit a record low and bond yields across the board are in negative territory as investors seek safe havens are responding to 3 central bank rate cuts wednesday and that german data long term fixed income assets like bonds are benefiting as global recession risks rise especially with the u.s.
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china trade war escalating the profit a bond yields when a matures goes down as the price that investor pays for them goes up so things have to be pretty hairy to get markets to pile into bones as yields window. south africa's gold sector has lost its shine once the world's biggest coproducer by far it's now slipped to 8th place in the rankings figures just down for ginger production is 24 percent down on last is tonnage but the sector has been declining steadily for over a decade and is on its longest losing streak since the global financial crisis output has fallen for 20 months in a row the gold price at the same time has passed $1500.00 an ounce for the 1st time since 2013 but that's more comfort to south africa's mining sector the nation is struggling with rising costs for electricity and labor many mines a closing due to unprofitability let's go over to ellis fund in cape town our
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correspondent there. is a potential bonanza must be slipping through south africa's fingers with gold at such a high. you know definitely go south africa has is one of the some of the biggest school reserves in the world i mean the economic hub johanna's is known as lusty goalie the place of goals and it only reason for its existence is that gold was class found there but and yet the goal industry in south africa is definitely kind of recent sunset years and a future just doesn't brights well tell us what went wrong because it's not like gold lost the china no definitely will one of the reasons you just mentioned a psychiatrist is price that's not helping us in africa also what's not helping it is that the power grid is just not stable and we see in the past year that there have been a lot of blackouts some no electricity they didn't separate out and apart from that
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it's an industry where we've seen a lot of strikes and that's a lot of action protest action but actually to biggest problem it is that the goal is to deep inside africa and we're talking now about mines that are as deep as 3 to momentous 4 comments or so it's just getting to be expensive for south africa and to mine at wells ok i was also looking at diamonds platinum most other minerals production numbers they're also down but why are they up in for coal if it's got to do with the labor costs of electricity costs. yeah coal is that because i mean it is still there and the power utility eskom in south africa that it's mainly a coal problem it's winter here now so we need a lot of cool down just a moment this side of the world but it's not just a little story it's also there it's an export of cool are actually go quite well there is the mom from from political from south africa for example india is
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a sceptic is the largest exporter of cool to india a source of data for and commodity is going to help other african countries seem to be getting a right when it comes to gold some of them have been turning to china to open minds how are they doing things differently to south africa you know definitely actually to the upcoming country here although they have to be mindful for a long time he says god as the stepping into that well you know south africa into google street and one of the things this is normal cost is this it cost us africa extremely high because the minds are so deep but it also has a friendlier policies and last year we saw that output at schools at peace with 12 percent of that country is definitely on the rise and is profiting. again at us from in capetown for us thank you very much for the analysis cambodia is
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rich in rubies and sapphires but the country lacks the expertise to make big bucks out of its gem stores most are exported to thailand to be caught and made into jewelry which is where the real profits that to be made a 20 karat dark blue gemstone that's what chi tones spends hours each day searching for where he to discover one he'd be a rich man the pile in province in western come badia has long been known for precious stones but heavy exploitation means discoveries are now rare still now and then someone will get lucky and stumble upon a soft fire or a ruby. i earn $500.00 us dollars some months other months though i don't find anything and so i earn on nothing it's all a matter of luck. the miners have been waiting for this man leap oh he's
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a gemstone dealer and he's going to examine today's whole. tone shows him what he's got he's hoping for a good price to get an accurate valuation the stones would need to be tested in a lab but the dealer can make an estimate based on his experience. this stone isn't anything special we call it tone here i'll say it's worth about $150.00. over the past few years has posted solid growth of more than 7 percent this is given rise to an expanding middle class with money to spend on things like gemstones this store specializes in red sox far as in blue rubies price tags here begin of the 1000 euros the store's owner grew up in the u.s. his most expensive examples are either bought by western tourists or exported to china. this blue they're called as an example
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right now people go around and call it the diamond open body also it's a very beautiful stone and for example this piece right now is where you 19.89 carat which is come down to $10000.00 u.s.d. and this friday's is still going up. compared to vietnam in thailand cambodia is gemstone industry is still in its infancy but in recent times dealers have been coming together in an effort to market the country's precious stones have brought if we have that new technology. building yeah and ability that can sicking on this i think cambodia can recovery all that in mind. but finding precious stones is a matter of luck and many international mining companies aren't willing to make large scale investment based on serendipity so for now the search for gemstones
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continues to be led by enterprising individuals hoping to strike gold after some of the other business stories making news. samsung has unveiled its new galaxy note smartphone we are still full back some of the i phones market share south korean company is losing more battery life into its latest devices by scrapping the headphone jack something it mocked competitors for doing. it. added us sprinted to strong profit growth in the 2nd quarter running over a half a 1000000000 euros but sales grew less than expected sending its shares down its force by making says its biggest problem is overcoming supply chain both legs to meet demand in north america. and italy has banned cruise ships from entering venice residents have long complained the one and a half 1000000 tourists arriving on cruises every year create congestion rubbish and spend too little following a collision in june when a line is struck
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a boat italian government says it will now reroute ships away from the historic city. gaby is justice ministry recently found that former president may stolen at least $362000000.00 from the state during his long time in power that is before fleeing the tiny west african nation it could be a reason why new notes have gone into circulation this week with a completely new design. the face of ex-president jummy has been removed from the new notes 2 years after he fled the country after losing an election this woman is keen to show her new delicacy. i think it's important to remove gemma from the new book because my idea is i don't i don't think any president should be on and on about. the former president who had come here for more than 2 decades and for many here his removal from the country's notes is
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a good thing. money is for the people this time i hope the gambians have the typical gumption carrying. one that doesn't symbolize the president or any other people. it would pass on the new dollar seashells is a national bird and many here hope the new currency symbolizes a break with the ex presidents regime which was mired by rampant corruption. but. nice doing business with.
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interactive content teaching the next generation of the tomato ketchup. music channels available to inspire people to take action and more determined to become something human for the next generation. series of global 3000 on d w. this is news africa coming up on the program un peacekeepers on their attack in the democratic republic of congo the most regency in benny march in protest the argues the un is the blue eyes asian mission feeling that and see the fia being made that by militias. in uganda an eco friendly business has found a natural alternative to plastic drinking strolls they are made from the traditional local plant used in the country. before it is that make their own food and back in.

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