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tv   Business  Deutsche Welle  September 30, 2019 6:45pm-7:00pm CEST

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crown prince says oil prices could spike to unimaginably high levels if the world doesn't come together to deter iran they've been attacks on the saudi oil sector the world's largest crude exporter sharply reducing production still haven't been selling says he prefers a political solution to a military that's helping ease oil prices today but not the saudis worries fitch has downgraded their credit rating citing the rising tensions. saudi arabia's message is clear an armed conflict with iran would have catastrophic implications for the global economy and send markets reeling it's a stark warning and one riyadh hopes will prevent military action by its long time rival a spate of attacks on saudi oil facilities allegedly orchestrated by iran earlier this month led to a huge spike in crude oil prices as saudi output sputtered in a rare interview with u.s. broadcaster c.b.s. the saudi crown prince issued a stern call to action. and that if the world does not take a strong and firm action to deter iran we will see further escalation that will
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threaten world interests oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven't seen in our lifetimes. saudi arabia is urging the u.s. to continue talks with the wrong with the hopes of reducing some of the political strain on the strait of hormuz the world's most vital shipping route for oil almost a 5th of the planet's crude passes through it making riyadh's warning all the more urgent. singapore is asia's undisputed oil hub let's go over to our correspondent there andrea hang and read just how high are the political risks considering that the oil prices going down today. when fest is. about what's going on in the world today particularly with the u.s. china trade tensions ahead of the washington talks that we're going to be seeing in the next couple of weeks or so and that oil prices to drop some one percent today
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now this is all top of the fact that china's economy is still looking very weak even though it costs a relatively positive factory activity numbers today now with all this instability is sending a lot of ripples across asia and asia is very dependent on saudi oil some 70 percent of all more of its oil supply comes from the kingdom and any disruption to supply or even the threat to global prices is going to lead asia on shaky ground in fact it already is now weathering any kind of disruption is going to be short lived as well especially if prince mohammed riyadh warning becomes a reality and just briefly at the same time fitch downgrading the saudi's credit rating this is a lot to do with the you know the geopolitical tensions and possibly military tensions rising in the gulf obviously between saudi arabia and iran now the saudi
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finance ministry has already asked fitch to reconsider its position and insists that the drone attacks have not impacted its state funds it has not it has not impacted its growth and also cause you know investors are rather singing a different tune saying that this could have a long term effect especially since the saudi kingdom is trying to read diversify its economy and attract foreign capital breaking in singapore. well financial markets are more worried about what andrea wood's talking about there the relations between the u.s. and china reports the administration is considering delisting chinese companies from u.s. exchanges it would be a radical new tactic in winning the trade war with beijing. the us treasury has denied reports it is planning to block chinese companies from listing their stock on u.s. exchanges despite the denial asian markets went down on monday investors still fear that washington will restrict u.s.
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capital flows to china beijing had a warning for the u.s. . exerting maximum pressure and even seeking the force to coupling of china u.s. relations will harm the interests of chinese and american companies and people it will create turmoil in financial markets and then danger global trade and economic growth. beijing said it hoped washington would work to resolve their differences and deepen economic ties some market observers brushed off the rumors saying the news amounted to nothing more than posturing ahead of talks between beijing and washington next week. fox is in court in germany's very 1st class action lawsuit a civil compensation claims relate to the diesel scandal the court will have to consider if vehicle owners suffered damage from the emissions cheating software
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itself all from subsequent bads imposed on driving all the diesels. this could be a watershed moment for germany's legal system 4 years after the emissions scandal broke hundreds of thousands of diesel drivers now have the chance to hold the carmaker to account. it's the 1st ever class action lawsuit to take place in the country similar auctions in the united states have seen consumers come away with billions of dollars in compensation. for the good of analysis was far more confident about winning them and that the arguments speak for themselves 1st the leaders knew about things from the star side and the w. hasn't put forward anything substantial that can contradict. what lawyers maintain that the carmaker has removed the emissions cheesing devices and argue that diesel owners cannot claim for compensation while continuing to drive the offending vehicles in the heart of to this day hundreds of thousands of
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vehicles are still in use by customers for us this means that there's no damage and therefore no reason for compensation these days hearing comes just a week after german prosecutors charge 3 v.w. executives including current boss happy teeth with market manipulation accusing them of failing to inform shareholders about the financial impact of the emissions scandal. a further indication that the costs of germany's biggest post-war industrial scandal are still being counted. could be 470000. well the folks i can customize are asking for a full refund on the purchase price of their vehicles and whether that's going to happen this is a big question and part because this is really the 1st time german courts have had
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to address an issue like this so in court today the judge was saying you know you need to prove that that customers lost something and folks are going to saying it that customers to them because they were still able to try to have their cars so there's a lot of uncertainty over how how the plaintiffs can prove that and whether it's point b. a possible if you do look at some of the other cases that folks like and have settled and in the u.s. it's been much higher but it's a very different legal system there so it's going to be a big question going forward here before this story closely thank you chelsea. well despite all the bad press for v.w. the label made in germany is strong as ever it continues to enjoy the top spot weld wide a cambridge university poll shows huff respondents positively view products manufactured in germany only 6 percent a negative china on the other hand still has a major reputation problem the survey on the quality of consumer goods from a dozen countries puts made in china last in the rankings nearly half of all
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respondents reaching a negative verdict on the quality of chinese goods just 15 percent have a favorable view other asian nations fed better high profile consumer brands like nikon or nico rather old sony japan is in 5th place south korea 9th place with popular brands like l.g. and samsung will german companies tend to be very wary of investing in africa citing a range of hurdles from corruption to infrastructure but one should be an family owned business has found success in uganda cultivating flowers on the shores of lake victoria the company has built a thriving business which is now exploding all over the world. it may be a sea of green now but after a few. months just in time for christmas these stems will be topped with rich red flowers jovian on sukkot works at this farm in uganda preparing cuttings for the long journey to europe she's happy the job is providing her with
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a steady income. and one more to pay school fees. and the most daring. this is the work of a guy flower farm a huge area sitting directly on lake victoria here german companies select a one is producing plants for export and they're not the only international player here he sed africa is valued by many as a location for flower production salaries are lower here in the climate is ideal but flower production in africa does have its problems there are accusations that too much pesticide is often used for production manager wilson cater says that's not the case we are the production managers in the field we are trained very much to use as many as possible chemicals and. with chemicals that we that we have. kind of chemicals that we are using in this in this company are all the company been listed and has been approved by the european union. from uganda to
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stuttgart the headquarters of select to one of the twin brothers nielsen pair clem are the 3rd generation to run the family business in stuttgart the seedlings from uganda planted in the soil to take root the claims are often asked whether he wouldn't be more environmentally friendly to just do all the cultivating here. because you don't have to artificially heat in africa and basically you have an incredibly high growth per area it's actually the case that production there has an ecologically lower c o 2 footprint than if the cuttings were produced here. with wife with a populist i think they're sticking as women here. stood guard headquarters is mainly used for developing and planning next year a new office is being opened in ethiopia according to the entrepreneurs the cost pressure in the industry is enormous making the lower wages in east africa
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a major boon in order to off a couple we produce in east africa because the unit costs and the wages we pay for them fit well together and we also have enough manpower available it's the only way we can still be successful in the market and it's the only way we can sell our products at all i think that's where the market while the upsets and going. with sales increasing even in china they claim twins are proud of a company that's gone from humble beginnings to one that's growing around the world that's doing business with you.
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please.
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welcome to the what is the gate here for detail the flights to talk about. this us all come for. 3 more posts 6 people we have them in let's have a look at some of the governments around the still shaking in the green a sigh of relief so you don't want to miss this. discussion alan w. . when your family is scattered across the globe. such. a. journey to the words should get a minute live. shots family from somalia live around the world to them one of them needed urgent assistance. family starts october on.
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is the w.'s life from violinist china begins to mock the 70000 of us free of communist role of the government's paging is. on its way to make sure nobody writes on it's also an. austrian conservatives the boston courts looks likely to return to power after his party's weekend election but with a collapse of support for his coalition partners the far right freedom party it's unclear who will join him and. pin ships into open space weekend empty.

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