tv Business Deutsche Welle August 19, 2019 10:30am-10:45am CEST
dangerous. floods and droughts climate change become the main driver of mass migration you can write any going to peace not if you want and probably most of the book of. climate exodus starts september 5th on t.w. . hong kong's business community is beginning to feel the heat off of cooler heads prevailed at the weekend's protests beijing is increasing pressure on western companies to distance themselves from the protests. and 2 years after the war against islamic state has ended the economy of the kurdish regions of northern iraq is finally showing signs of a revised. this is t w business i'm good how else is in berlin welcome. protests in hong kong continued over the weekend but remained largely peaceful but
hong kong is gearing up for more protests this week meanwhile beijing is putting pressure on big companies to distance themselves from the protesters central government government has taken an increasingly firm tone over the protests accusing foreign countries including the united states of inciting unrest u.s. president on notrump on sunday want to china that carrying out a tiananmen square style crackdown protesters would harm trade talks between the 2 countries china agreed to allow hong kong to keep its unique freedoms when the former british colony was handed back in 1907 but many homeowners feel those freedoms are being chipped away beijing has pressured hong kong businesses to toe the line and condemn the protesters. further edging is trying to keep hong kong on a tight leash because it cannot make li full control over the city is vitally important for china and here's why nearly
a 5th of china's foreign trade passes through hong kong's content of board and force of the lion's share of china's payment transactions also run through run through hong kong on top of this off the firm's listed on hong kong stock exchange are from the mainland on kong as a central gateway for china into the global financial market the territory is also a major wealth management center for high net worth individual individuals banks and corporates 0.8 trillion worth of assets and manage the the world league tables of that sector hong kong comes forth after switzerland the city of london and the us well these are just a few key reasons like keeping on call on a tight control is of such vital importance for beijing their economy depends on it and that's why beijing has turned the screws on hong kong's businesses pressuring them to condemn the protesters. surprising number of western companies is toeing
the line out of fear of losing access to the chinese markets. the sight of hundreds of thousands of protesters carrying on bella's in hong kong is making life difficult for big firms some employees are taking to the streets beijing is not happy and appears to be tightening the screws on business. signs of pressure over the protests appear in different ways. chinese state media reported public anger after stuff from hong kong airline cathay pacific took part in protests on friday cathay c.e.o. rupert hogg resigned cathay shares rose on the news investors clearly do not like to ruffle feathers in beijing and markets are banking on easing tensions in hong kong in the financial sector the big 4 accountancy firms k p m g e y deloitte and b w c scrambled to publicly distance themselves from an employee showing solidarity with the demonstrators jar deans which owns the mandarin
oriental hotel group issued statements backing the hong kong police other big firms may also bend to chinese pressure this month hey just b.c. us to chief executive john flint the bank had been in chinese crosshairs over its perceived role in the us prosecution of huawei c.f.o. among one joe. from beijing you are now joined by journalist elliott zak went oh yes what are you hearing there is there more pressure on other companies. well we are we did hear about the the big 4 there and they are being pressured to either tell their base they tell their employees to shut up or get out i don't know if they were hearing also things like that there was a lot of pressure being put on italian and european fashion brands to change their their websites to make sure that they left hong kong as a as
a part of china and not an independent country well it's a tricky thing how well companies having that will more western corporations just sawdust off who just exercise their democratic rights for peaceful protests i think it's important for a lot of them to just do as little as possible try to stay out of it but we are seeing in a different era when it comes to china right now i know that you and i kind of grew up knowing that where you stay out of politics and just focus on business that's not china and for now instead of just saying get out of politics china is saying we need to support our politics and that's a lot of companies in a no win situation but the china terms of government is exerting pressure that although also signs of lobs chinese companies put pressure on western companies they do business with well one interesting situation that happened about a month ago was that us be a top economist for us or u.b.s.
had was talking about the. african swine flu in china and they were asking what is the significance and goes well it matters if you're a chinese pig he's talking about actual chinese pigs some chinese netizens took offense to that and u.b.s. had to apologize and they put this economist at. least now i saw things. well but that is and that what happened is that u.b.s. was scheduled and it was planning on playing a lead role in a bond issuance from the chinese state on from c. r.c.c. which is a railway builder and and they got dropped from the project so it is it is impacting some of these companies and it is something they have been very very aware of. joining us from beijing this morning thank you think now to some of the other business stories making headlines today u.s. president donald trump again says he doesn't want to do business with the chinese
to the communications company while waiting for national security reasons this comes as the u.s. ways whether to allow the company to continue to buy supplies from u.s. companies that decision is expected to be announced later on monday. chinese police have launched an investigation after a fedex postle sent from the u.s. was found to contain a gun according to investigators it was sent to a sporting goods company in the province fed ex is already facing scrutiny in china on suspicion of it in legally held back more than 100 packages. were cloak markets this morning come out it looks like there's a bit of a run in 2 bones what can you tell us. yes good morning everyone of course all the markets is focused right now on the negative deals here in germany all of the maturities all of you know the different commercial the different
papers that germany is coming out with or has been coming out with are now carrying a negative yield so if you buy them if you accept that you have to pay an interest a certain very small amount still a negative interest rate on those government bonds the same in switzerland so that's really been a rush into safe haven investments that's changing only a little bit this morning where we are seeing positive sentiment and upward strain on the equities markets here in europe we've been getting better factory orders from germany in the june numbers are unexpectedly strong especially german machinery german engineering products have been in demand much more also german consumer goods so a little bit of hope that the economy might not be you know rushing into a 2nd recession during the car or a 2nd contracting g.d.p. during the current quarter. than it's been fun thank you.
the war against islamic states in the iraq has the kurdish regions in the north of the country the area bore the brunt and the economy with it away best dried up national businesses and banks pulled the plug development projects died but 2 years after i as has been defeated there are signs of recovery a correspondent of this report. this construction site has come alive again at last real estate developer notch martin morehead in russia had invested millions of dollars in this group of high rise apartment blocks on the edge of the northern iraqi city of suit of money and then the islamic states reign of terror began before i came we wanted to sell the apartments for $2000.00 a square meter and we had lots of inquiries in the terrible battle against i-s. began and prices fell from $2000.00 down to 0 now islamic states been beaten were
selling for a $1000.00 a square metre so much as that and some buyers are returning now that the economy in iraq's kurdish region is recovering much money in russia has furnished a showcase apartment to win over potential customers. but it's the working space and back there the cookers and you can go straight out to the fresh air. the cold love we bet is. view of sulaymaniyah you can sit back on the balcony and enjoy a view row cross the city. use the word. superman is one of the largest cities in iraq's kurdish region. didn't manage to reach it but in the war against the terrorists the economy was paralyzed but there's been peace since 2017 and no investor confidence has returned as well oil revenues are generating
investment but to catch up with the pre-war boom times more is needed says the government's finance committee chief banker jihad the account. we have to bring in foreign banks to put up loans for agriculture and the manufacturing sector. yes yes we've had good results with loans for small projects. but to really get the economy going international banks the iraqi central bank and kurdish banks all have to supply all sectors with credit because you are here now and big. business is already going well at the city's biggest car market and here a car has to be impressive to sell. what i look at is an awful it was it has it it's that in kurdistan people love big off road vehicles the more people you can get into a car benefit the more customers like it after all the disruption the kurds now have
their eyes on the future but with tensions in the region rising again their optimism is also clouded by fear of yet another armed conflict. and that's it from me and the business in it and then for more business news background stories check out the website which of course is the w dot com slash business and also if you don't do already follow us on social media or on facebook and twitter or you go is a quick look global markets are up as a. team
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