tv Business Deutsche Welle October 15, 2019 7:15pm-7:31pm CEST
the stay on the ball here. in brussels thank you. very much of our top story international pressure is growing on turkey to hold its offensive against kurdish forces in northern syria washington has announced economic sanctions on something that you ration is also spreading beyond cellphones to their fellow troops have been russia meanwhile says syrian government troops now control the p towns of mt village as they seek to contend selfishness of. germs has your business update in just a minute top of the. ball sensitive guy you don't need to keep it there you go on the road for the over correction home the 4th time for the most news in that we can look. at the bottom of the fannies at the nasa dragon as we're called to her through. the debris of books on. entering the conflict zone with tim sebastian.
i'll be challenging those in power asking tough questions demanding. as conflicts intensify i'll be meeting with key players on the ground in the sensors and. cutting through the rhetoric holding the powerful to account past the conflict . conflict zone with tim sebastian on g.w. . the international monetary fund has kept its outlook for the wealthy economy the i.m.f. says the situation is precarious with no room for policy mistakes also coming up with some beacons to the poles and hopes they can benefit from the country's vast wealth of natural resources. and president trump threatens to destroy the turkish economy over andras offensive in northern syria. but counted out the business
when it came jones and the language to have you with us now the voters in mozambique today cost their ballots in presidential parliamentary and provincial elections although it is one of the poorest countries in the world was and because vast deposits of national resources and could in fact be a very prosperous country. in the north of mozambique everyone is waiting for the boom huge reserves of natural gas were discovered years ago directly off the coast but they're still waiting for production to start now it's nearly time international energy companies are ready to start operations and are predicting mozambique will become one of the world's leading producers of liquefied petroleum gas. among the firms involved are chinese and european companies they are promising acting president philippe now you see big money if he
can ensure a stable investment conditions he has just laid the foundation stone for a 25000000000 dollar project. and there are countries that have had natural resources for many years but most of their population remains poor. we want to and must make a difference. earlier this year to tropical hurricanes plunge this already impoverished country of nearly 30000000 people into crisis now you see has been hit with a corruption scandal also there is an insurgency of terrorist groups in the north where the natural gas deposits lie the government has responded with a military operation to keep investor fears at bay god should start to flow by 2023 at the latest. the more i'm joined by. jim below chip honda it appears that liquefied natural gas could be mozambique biggest hope for an
economic recovery well it definitely is it would be a huge difference for this economy it's one of the world's 10 poorest economies and it's actually it's across domestic products around $12300000000.01 of the projects that we're talking about the exxon mobile project would be like africa's largest private investment project if it actually goes through and it's probably worth $27.00 to $33000000000.00 u.s. dollars so that's you know about $2.00 times the size of the economy of the country today so it would be a huge difference maker and the i.m.f. projects that the economy could be growing in double digits once those l. and g. you know revenues start kicking in but it might take a while for that to happen but it's the difference that the economy would need to start growing very fast so this kind of investment is certainly done more than just a silver lining from muslim banks economy what are the biggest problems well of course widespread poverty which was mentioned earlier on you know that recovery
from cycling. is obviously a major issue infrastructure was already destroyed the country already had a problem with infrastructure so like many african countries infrastructure is an issue but the main main problem is a huge debt burden that mozambique has it has one of the highest debt to g.d.p. ratios it's currently at around 113 percent and for a poor country that's really an issue and another issue of course is that foreign the foreign donor community has stopped supporting mozambique with its debt because there was this huge scandal in 2016 famously called the 2 no bond scandal in which around $2000000000.00 was you know sold in the international markets it was supposed to be for tonight. project off the coast of mozambique but it actually was used for defense and money was siphoned off political officials and 3 former credits with bankers well also actually implicated in that in the form of
finance minister monreal chunk so there was a huge problem you know money went missing from the a poor country and now it has no support for right you know its debt issues as well to you know get its book and its books in order so so what impact could today's elections half in terms of the economy it's obviously something that people watching very closely because they want to see a peaceful outcome that would mean that people who are you know have been major plans reserves can go ahead with those plans that's one thing another really important interesting thing is who gets to rule the province where the oil reserves base its cold provinces cold though it's in the north and whoever gets to win the majority in that province may get to rule that province will have a say in what happens and if that's different from the government in my puto that would be interesting so that's there for me something to watch out for what happens in the province. bellew there from business day and obviously
a great africa expert thank you so much for this. turkey's offensive and held in syria has shocked leaders in europe and the us from across the political spectrum it's pushed some of them to issue warnings all the possible consequences to present at a one and his government including economic sanctions the business world is already reacting with folks lacking putting its plans for a new factory in the port city of is near on hold leaving one and a half 5000000000 euros of investment and thousands of jobs there at risk the turkish economy has barely begun to recover from the last crisis and now even this slight improvement isn't a threat folks are going to respond to a decision on a new plant prior to the turkish offensive in syria it was virtually a done deal. and the united states is also making it clear to turkey that it will
hit the economy hard to force president to turn back. as we've warned all along our desire is not to shut down the turkish economy our desire is to see her birth response these sanctions will be very severe on the turkish economy we will continue to ramp up the sanctions at present sanctions will only affect individuals but should the us follow up on those threats but turkish economy could be in a tight spot the lira which tumbled nearly 30 percent in last year's currency crisis has fallen nearly 5 percent so far this month despite state banks pouring billions into markets to prop it up. the international monetary fund has cut its outlook for the world economy citing trade disputes for the slowdown the i.m.f. is now forecasting 3 percent to growth for this year but is down from 3.2 percent the weakest since the 2008 financial crisis the i.m.f.
slashed its growth estimates for the euro zone to 1.2 percent dragged down mostly by export powerhouse germany the 2 biggest economies the u.s. and china are also losing steam the u.s. can expect a modest 2.4 percent gain in 29000 but that's still down half a percent from me earlier and china's growth is projected to dip to 6 point one percent this year and 5.8 percent next year and this would be the slowest rates since 1990 a correspondent popular folie las joins me now from washington and there you are good to see you publish the i.m.f. says that the global economy is growing at its slowest pace since the financial crisis urging leaders to deescalate tensions we know which leaders. are talked to here are washington and beijing listening. monica a lot of peers that perhaps they are let's not forget that of course in recent days
we've seen a truce a cease fire if i may in this ongoing trade dispute between the united states and china and the economists here at the i.m.f. and in particular the i.m.f. chief economist gopinath and was very cautious will say in delving into whether this was the end all of this this trade dispute she said that she'd want to wait and see what the actual details of this agreement are and perhaps in november we could be seeing some sort of agreement to actually signed between president trump and his chinese counterpart xi jinping but of course we'd have to wait and see let's not forget of course that tires were meant to kick in in fact today monica but they were suspended as part of this truce what the next question that many economists are asking is what's going to happen to the next round tire of
us which were cheap to kick in in december ok so now we have a world economy to grow at a rate of 3 pissed and how does this translate into every day life. well into every day life of course one of the big key elements is how it's going to affect consumer spending and confidence of course now we've seen that you know that there's been an issue with manufacturing and global trade were very clear in the board actually consumer spending has maintained pretty static in fact it hasn't been affected for now but if some economists. see perhaps a deep in consumer confidence what's the effect that back would also have and also we could see a slowing in the growth rate of job creation particularly in sort of particularly some of the e.u. is weaker economies so you know many questions are being asked over what the. the impact will be in particular in the eurozone i'm more weaker commies around the
world. all right pablo foley there in washington thank you so much. and now to some of the other stories making news around the world. south african president jacob zuma will appeal the high court's decision to deny him a permanent stay of prosecution on corruption charges he's been charged with fraud racketeering and money laundering in connection with a $2000000000.00 arms deal with a french arms company. ali davidson has suspended production off its lifeway electric motorcycle which the brand had rolled out as part of a diversification push the decision follows the discovery of a problem with vehicles battery also it appears buyers of its traditional motorbikes weren't interested in an electric version of their favorite model. searching for prices caused by a widespread outbreak of swine fever have driven up china's inflation to 3 percent
in december the present pork rose 70 percent beijing has released pork supplies from its central reserves to stabilize prizes under-aged to import quotas from the us. obama has laid off another $350.00 employees it's the us right this is the 3rd round off firings in a letter to employees the c.e.o. described the company's situation as difficult for us all so far the house cut almost $1200.00 jobs share prices have plummeted since it made its debut on wall street in may the job losses will hit mainly the food delivery service eats self driving costs and performance marketing. that's a business update thanks for watching.
it's time to take one step. in the face. time here of just such the. front door to translate. it's hard to overcome trends and to cut. it's time for double. duty of us coming up ahead. barnes. this is due to every news africa coming up in the next 15 minutes dissent in guinea several people are dead off to price he is challenging the president's rule i'll talk to the politicians organizing the demonstrations also on the program if you can see that in south africa's look even in countries we this is a war. we hate because used as a tool for easy that mean you don't see women in south africa australia am i next