tv Business Deutsche Welle September 12, 2019 7:15pm-7:31pm CEST
mr gold mining industry is struggling we'll see what's behind us. because it was all about story in just a moment plus a look at the future of dr oz reports from the front for german chancellor angela merkel open to this year's approaches that's the word of the day. and gemini with the devil at any time time zone any place the news media in atlanta as you have i don't like the full songs to sing along to see this to come from super. for. interactive exercises.
everything is online and interactive learn german to frame with d. w. . live going to. school for the local store link to exception to stories and discussions from the news and visit our website a d w that comes much for joining us on facebook. for. the 1st. signing output in south africa has picked up slightly thanks to. a client or production goal to mining however still lacks the rest of the industry we asked why . also coming up with germany's flagship kasha faces an existential crisis tops this was the last time a sitting. opened the front but. with this very
welcome to do business africa want to jones of berlin good to have you with us and we're starting with this the world bank has assured of the sudanese government is willing to offer its support during the transition period so dance new prime minister abdullah doc met with the bank's regional director kerry turk at his office she said the organization was ready to encourage donors to invest in the country that meeting came just 2 days after the dance transitional cabinet met for the very 1st time following the military removal of long term leader omar al bashir earlier this year. south africa's mining output rose for the 1st time in 9 months up 2.4 percent in july from a year earlier now while that is good news for the sector it can't hide the fact that gold mining has run into problems in africa's most developed economy and
that's why gold fields a company that is headquartered in johannesburg and listed on the stock exchange there has long been focusing on ghana for profit. gold fields is mines in ghana a poor ring with riches the firm draws more than half a 1000000 ounces of gold out of the ground here every year and it's turning those ounces into ever higher profits thanks to the rising price of the precious metal. over the past 12 months it's klein from $1200.00 an ounce to more than $1500.00 that's a rise of 30 percent. but away from ghana the south african company has deep lying problems in its hometown of jana's the production at the south deep mine has been declining significantly for almost 2 years despite a 1000000000 dollar reserve lying beneath the ground here recovering it is getting more and more complicated and costly with one in 3 jobs here thought to be at risk
the speculation about the possible closure of what was once the biggest gold mine in the world. for more i'm joined by our reporter in johannesburg stephanie good to have you with us stefan what exactly is causing the south african gold mining industry to struggle the way it does right now some analysts are starting to call the south african gold mining industry actually dead men walking you know we are seeing here an industry that is aging that is very costly indeed minus have to dig deeper and deeper into the ground to get to the precious metals and that is making the industry very capital intensive however i think the biggest factor for certainty is really the policy uncertainty here in south africa so what does this mean for the economy of south africa. well the gold mining industry in the mining industry in general is you know it's
not anymore the predominant into the sector in the south african economy it's velda versified we have sectors like the financial sector and the manufacturing sector which are followed just in the mining sector. however the money sent to still oppose a 1000000 of people and if mining companies decide to exit so that because those people who lose their jobs as well the mining industry is very crucial in terms of skills to both of them and to here in south africa. but if you say that mining is such is not that profitable anymore and in south africa clearly for the economy it will have to move away from from gold mining at least are there any plans to what to do with with all the people that were then. sure i guess there are 2 ways you can look at the gold industry here in south africa one way would be to see it as a sunset industry to dispense filling with rising costs and political hostility on
the other hand i think you can also see it as an industry that is well positioned for another leave of life 50 percent that hover over the world gold deposits known here in the south african soil and companies want to exploit that wealth so i believe if you know the political climate changes again. companies will come back to southern africa and invest into the gold mining industry oh i move there reporting for us about the situation in the gold mining industry in south africa thank you so much they from. all cartel opec has accused africa's largest oil producer nigeria of exceeding its production quotas saudi arabia has led calls for oil producers to comply with agreed cuts to their output as a committee of producers the saudi energy minister said every country should meet its commitments output reductions were agreed in an attempt to stabilize a slumping oil market
a period now plans to reduce production by more than 50000 barrels a day analysts have blamed the u.s. china trade war for suppressing demand. the european central bank and this is not the bank that you see right behind me has unveiled a fresh stimulus plan aimed at boosting the eurozone economy among the measures it's just announced the reintroduction of a bond buying program and another cut in interest rates pushing borrowing costs further into negative territory the move is part of efforts to get inflation for just under 2 percent a little experts believe reflects the right amount of momentum in an economy. it's been a long way from the 8 car exhibit in berlin that was back in 1897 to the frankfurt motor show today one of the most important auto industry events in
the world german chancellor angela merkel has officially opened this year's show theme to driving tomorrow and indeed it showcases all the shiny visions of the future of mobility but to germany's carmakers as plenty of reason to doubt the future. outside the grounds of the frankfurt motor show protesters carry signs calling for the band of things and petrol engines they're criticizing the car industry for the role in the climate crisis inside german chancellor angela merkel opened the show with a reminder to car makers of the cost of past mistakes specifically the emissions cheating scandal that saw an entire industry sell cars they said were less polluting than they actually were. the problem of illegal defeat devices the one that led to a loss of trust weighs heavily on midst a period of great change. therefore it's only bright and important for the sector to show it can be relied upon. that's why the cars shown to her and her traditional
walkabout focus heavily on the emissions technology like electra ability. but this giant multi-billion euro push into the future may be too little too late and the showcase of it obsolete. this could be the last time a sitting chancellor opens the frankfurt motor show at least in its current form the show is experiencing an existential crisis akin to the one the auto industry itself is facing automakers are called upon to justify their place in the world amid ever worsening environmental crises i made souring public opinion at a time where the economies of their key markets are spidering like say china or incidentally like germany bad news for a sector that produces the country's most lucrative export and employs more than 800000 people and these gleaming new offerings of germany's prized industry may find their way into fewer and fewer garages further slowing down
a change of course for carmakers. and now to some of the other business stories. then how it matters the president of the german automobile industry association and short video has resigned the former 4 to manager only took over the job at one of germany's most influential ne 18 months ago no reason was given for his resignation . germany's continental and france's mission in are planning a tie on making joint venture in asia according to documents filed with german authorities french software firm smock is also listed as a partner in double way which would be based in singapore. lawyers for most states and local governments suing a purge of pharma have agreed to a tentative settlement with the oxycontin maker over the toll of us opioid crisis they say they are on board with a purge to offer to settle for about $12000000000.00 some states are still holding
out. u.s. regulators are preparing to ban the flavored these cigarettes vaporing has been blamed for leaving hundreds sick and is suspected to be the cause of some deaths around 5000000 minors and an estimated 8000000 adults use the cigarettes in the u.s. . general motors is recalling more than 3000000 pickup trucks and s.u.v.s in the united states because of a braking problem the action involves some a 3400000 vehicles built between 20142018 after several complaints from drivers. q.s. implementing emergency measures to stave off an acute fuel shortage the u.s. has tightened its embargo on the caribbean island to get the communist government to reform and drop its support for venezuela's embattled president nicolas maduro but the island's resorting to war stare at sea which is hitting the people. the lines to get on
a bus in cuba tend to be pretty long but these days things have got a whole lot worse. without transport you can't go to work how are we going to get to work it's important to be able to you know. public transport is just one sector that's being affected by a shortage of fuel which the government's blaming on an intensification of u.s. sanctions. simpering and part of the mission to trying to prevent the arrival of fuel to cuba to stop tankers arriving in cuban ports to achieve that they're brutally threatening the shipping companies as well as the government where the ships that have business with cuba are registered. and they also can go. the crisis has already disrupted the flow of goods potentially leading to more shortages in a country already used to them. compounding the problem is the fact that then as
the wail of the country's main oil supplier is not only an enemy of the united states but also itself grappling with the economic chaos. the cuban government has ensured people that the current crisis does not represent a return to the economic depression that followed the collapse of the soviet union in the 1990 s. but with an american president who has shown himself determined to cripple the economies of his foes venezuela and the middle of a financial meltdown it's difficult to see just quasi will power the cuban economy . a message from me on the business africa team here in berlin the banks keeping us company.
and think it's. time just such a deal not. fun for the troops. to over come down dribs and connection. it's time for work. and you don't really use coming up ahead. mines. those as did other news africa coming up on the program touchdown 2 on one sets in the future the best nigerians are i've blocked from south africa as the a steve's in a full back up sox box what does the i have to offer that. also on the program way it will go his body vibart wild means and probably more on the off former president his folly on the government to all its.