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tv   Business - News  Deutsche Welle  October 29, 2017 6:02am-6:16am CET

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in kurdish autonomous areas. hello and welcome to your business up days spain's political crisis continue to dominate the headlines this week as calls for caution and independence grew louder on friday a drama filled day as the castle and parliament voted to declare independence and madrid responded by dissolving ears and calling regional elections all this turmoil has triggered economic uncertainty too with investors feeling jittery about the region's future sub adele catalonia second largest city isn't just the stronghold of the region's independence movement it's also a business hub home to a host of thriving industries spain's fourth largest bank was founded here banko supper dell is among a number of corporations that have moved their headquarters away from the region as
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a result of the crisis that said many midsize companies are making a point of staying in catalonia take the supermarket chain its management recently announced it would open nearly thirty new stores in the region creating a thousand jobs. a month and i know what we are building a company head office right in the heart of catalonia we will move our headquarters anywhere else that will keep wealth and jobs in our region and that's exactly what we want you to. some say the reports of a mass corporate exodus are being overblown and point out that major corporations and banks are choosing to change their registrations for tax purposes but keeping plants and jobs in catalonia. regardless one sector that's already sensing the impact of the political crisis is tourism it's an especially important industry in catalonia. tours of the famous or good are familiar at the heart of barcelona's
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tourist trail are attracting paltry numbers industry professionals are worried such a trend could continue. we're seeing more cancellations than usual we're almost twenty five percent down since october people are afraid. there are no official figures yet to show just how hard the tourist industry has been hit but based on the word on the street the effect has been pretty severe a major source of concern for the four hundred thousand people in catalonia whose livelihoods depend on us. it's the end of an era on friday the last plane belonging to germany's second largest airline air berlin landed in the german capital an emotional end after four decades of operation it all began in one thousand nine hundred seventy eight when air berlin usa was born
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a charter airline with two planes and seventy eight employees the first flight talk tourists from berlin to me york the airline was known for flying to the warmer parts of europe like the mediterranean. in one thousand nine hundred ninety eight the holiday charter airline went into scheduled air transport business and offered more destinations as a result but two thousand and three air berlin was the second largest carrier in germany three years later in two thousand and six it went public on the front for its stock exchange valued at more than five hundred million euros. air berlin was growing with acquisitions that included german leisure airline l t u. but the area and has been in the red since two thousand and eight as a result the former c.e.o. and founder your him step down in two thousand and eleven in the same year the new chairman made two and signed
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a groundbreaking deal with gulf airline. one of the leading carriers in the middle east became the largest shareholder of air berlin. and in two thousand and fifteen air berlin posted a record loss its main shareholder as yet once again came to the rescue but to no avail on aug fifteenth of this year with a debt burden of almost two billion euros air berlin declared bankruptcy its rival germany's largest carrier looked once acquired many of its roots within germany that prompted concerns over reduced competition and the possibility of increased prices for consumers. without air berlin no company has stepped up to compete against love plans or for these routes easyjet but it's been the process confident that there's been no agreement yes now customers will face the option of flying loved ones or which can be very expensive or going by train or car instead. of. watching the demise of air berlin is not
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just a blow for customers thousands of the company's employees look set to lose their jobs. or let's take a look at some news in brief while it was a sad week for air berlin loved ones that had reason to celebrate after its third quarterly figures beast analyst expectations that despite paying out big sums to take over large parts of air berlin the company said higher ticket prices helped boost revenue. the figures put germany's largest airline on track for a third straight year of record earnings. and it's also been a strong third quarter for deutsche bank net profit of germany's largest lender more than doubled compared to the same period last year in a separate development this week the bank agreed to pay more than two hundred million dollars to forty five states across the u.s. over its alleged manipulation of interbank lending rates the libor rate is used to work out how much banks should charge each other for borrowing money georgia has
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already agreed to pay fines of two and a half billion dollars to federal authorities in the u.s. u.k. torchbearers abbas cast and ken guitar has announced he'll step down by the end of the year the c.e.o. of the frankfurt stock exchange operator came under fire for buying vast quantities of shares of his company shortly before announcing it plan to merge with the london stock exchange the new century and georgia person up the merger has not since materialized can't get turned over to bertha deny any wrongdoing. this week saw the delivery of a hotly anticipated announcement concerning the future of the european central bank bond buying program despite extending the scheme until september of next year e.c.b. had mario draghi opted to have the e.c.b. the monthly after purchases from sixty to thirty billion euros today's monetary policy decisions were taken to preserve the very favorable for announcing
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conditions that are still needed for a sustained return of inflation rates towards levels that are below but close to two percent. deciding on the future of the program has been a tough balancing act inflation levels are still below the e.c.b. as two percent target race on the other hand economic growth in the eurozone continues to be solid for now the markets will continue to be flooded with cheap money though there won't be as much of it as before i mean while the e.c.b. is urging governments to pursue policies to spur growth the implementation of structural reforms in all your account trees needs to be substantially stepped up to increase resilience reduce structural unemployment. euro area productivity growth potential. but the e.c.b. isn't closing any doors yes it could even in
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a further extension of its bond buying program. it's the most commonly used herbicide in the world in europe farmer sprague life asserts on a rant heart of all fields used to raise commercial crops. critics including environmental organizations greenpeace want to see it banned citing claims that it could be carcinogenic. this week the european union postponed a decision on whether to allow farmers to continue to use the weed killer at the conclusion of the meeting no vote was taken the commission took note of the position of different delegations of member states with no reflect outside environmental activists expressed their attitude in no uncertain terms they accuse european authorities of being in bed with pharmaceutical companies so these don't agree on whether glyphosate poses
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a cancer risk or not the world health organization has said it could pose a danger the e.u. food safety authority says it's harmless but members of the green party in the european parliament say more impartial studies are needed. we need to look at independent studies not just ones carried out by the industry we have to finally end this thing with life there are standard farming methods that work fine with that the heavy use of chemicals. but standard farming methods hoisting means organic agriculture but many farmers say those methods are too expensive they believe use of the herbicide could simply be bantering the period directly before harvest conservative any peace blame member states for not reaching a decision. i find it very regrettable that for more than two years the member states don't have a clear position they are always prospering there's no majority for any position
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e.u. countries will be asked to vote on a proposal to renew the permit for like the city again next month the current license expires at the end of the year. and metropolis built on sand is constructed as planned the saudi megacity naome will be the largest building site on earth covering more than twenty six thousand square kilometers the cost five hundred billion dollars it will be located on the coast of the red sea not far from the hundreds of ships that head for the suez canal every year so the arabia once naome to be a new global center for trade a crossroads between asia africa and europe the saudis also want to drug companies from the fields of transport robotics biotech food science internet technology and energy the country's crown prince used an interesting analogy. what should a difference is going to be as a zone as a city of today it's going to be with difference between this third much of this is
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known. to be attractive for foreign investors and stuff the country's strict islamic based laws will not apply within the city's limits. have its own systems and regulations to separated from the rest of saudi arabia men and women for example will be allowed to work together. it's an ambitious plan but throwing money at it is no guarantee of success there are still many vacancies at a similar joint project the king abdullah economic city plans for dubai is large carbon neutral urban center city still rely on conventional energy sources. the plan is for the new mega city to be powered so they buy renewable energy saudi arabia says it plans to finish by twenty thirty five the futuristic project as part of the arab countries attempt to get away from a reliance on oil and replant itself as a forward looking nation. when
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cities are ingolf by the sea. all the dams wall and costly protective measures will has been. no. one's. future starting november ninth on g.w. . bush an a-list are on the rise with. a good contract greater than that is their slogan their focus put your nation first i am taking a trip to highlights different shades of nationalism and to find out why this nation me to you. to share your story join the conversation here on to tell me
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you on twitter on facebook. you're going to an official estimates more than one point two million venezuelans live in colombia legally and illegally. already echoing what i'd return to the. to visit friends is that i don't think i'd ever go back there to live you know what i lived there again i don't know so i'm not sure. bearing witness global news that matters. made for mines meet the germans new and surprising aspects of noise and culture in germany. us american keep newsa takes a look at germany it is increasing at their traditions every day lives and language just a lot of. us so i'm young could tell us the big.

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