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tv   Business  Deutsche Welle  December 5, 2019 3:45pm-4:00pm CET

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worth all that new debt. and online stickers are big business in china so long as they don't cross the line. this is your business report i'm stephen beers in berlin thanks for joining us saudi arabia state oil company iran coast preparing to go public and today we expect to find out just how much it's worth the company announced last month that it would only be floating on the riyadh stock exchange and not in london or new york as initially expected that raised a few eyebrows. as the world's most profitable company last year produced some $11000000.00 barrels of oil per day more than 2 thirds of which was exported to asia the other 14 percent heading to the united states and the upcoming i.p.o. has generated a lot of excitement but recent drone attack on a ram co facility as well as investors increasing focus on renewable energy has left many analysts skeptical. saudi arabia would be nothing without saudi
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aramco the oil giant posted net profits of $111000000000.00 euros last year because creative cost doesn't only go to financing the saudis face it also pays for a lot of perks for the general public petrol is cheap health care and education are both free for. no one pays income tax. the oil concealed beneath the saudi arabian desert has almost been pumping itself out of the ground for a few years low drilling costs have made iran co the most valuable and profitable company in the world and it's the biggest 12 percent of the world's oil comes from topps but no one knows with any certainty had the company is structured and run around co avoid publicity as far as possible its shares will only be listed on the riyadh stock exchange now and there are questions about just how large it's sited reserves really are not to mention the uncertainty around or oil prices and a move towards renewables crown prince mohammed bin salman wants to reduce his
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country's reliance on oil revenues from around close i.p.o. will be used to accelerate the pivot towards the tourist industry and to ramp up development of renewable energy. show food prices are rising fast in the world's biggest emerging markets the spike is hitting important food staples in asia and economists are worried about the possible inflation wrists . onions are everywhere in indian cooking that's so important that if they get too expensive it can lead to social unrest as has happened in recent years they're also an important indian export unless they get too scarce in which case the government bans their sale abroad like now in recent months the price of onions has doubled weather disasters and small harvests are just some of the reasons for the price hike. higher prices affect the poorest in india the most un figures show that the
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price of the vegetable went up 26 percent in october compared to the previous year that has driven inflation above the 4 percent benchmark set by the indian central bank. and for more on this let's go now to business correspondent panday he joins us from bonn. we just got a sense there of how important the onion is to everyday life in india how exactly have things gotten so out of control stephen their host of reasons for that but the most important thing is they were unceasing rains earlier this year and they destroyed much of the crop in key growing areas invest in india that's been a major issue and then there is this book picture issue of hoarding speculators who hold on in prices to make profits when the prices go up and of course the onions that are coming from the store houses are of poor quality that is again leading to a shortage of supply and that also leads to a major issue related to the quality of storage and warehouses in india so
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a variety of factors sort of mixing in here what steps if any is the government taking. but to begin with you heard in that bought the government has banned export of onions and now it is looking to import onions from countries like turkey have gone this done egypt and there is a major crackdown on hoarders but experts i've spoken to say that the government needs to take poland in steps to actually permanently deal with this problem these are temporary measures that the government at this point of time mistaking and that involves building modern facilities to store a new ins and outs of the process then. of course we know that the economy in india has not been fairing that well lately is the un is the onion becoming shorthand for this indian economy to many indians well it certainly resonates more indians the common man than say g.d.p. figure and that's the reason why in the bust b.c.
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in the how onions have been seen to bring down governments in the us and so clearly it's of a sensitive topic and in the current context if you see today the reserve bank of india the central bank in india who had back on raising rates rates further because of the price the onion prices and also the. rising prices of food items so clearly you see how sensitive it is and they will write expected to cut. that key interest rate to boost that they cannot make good in india but clearly they actually. were a bit cautious this time and right the power of the humble onion ashutosh panday joining us there from bonn thank you. japan's government has unveiled a stimulus package worth over $200000000000.00 once private spending is included week exports and a drop in consumption have put pressure on the world's 3rd biggest economy which
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already has a debt burden twice the size of its economic output. it's quite the cash injection $13.00 trillion yen that's more than $120000000000.00 if the sum the japanese government thinks is needed to kick start the economy the reasons for the move are manifold. the purpose is to accelerate recovery from natural disasters overcome economic risks from overseas like the trade friction between the united states and china also to achieve sustainable economic growth led by private demand by speeding up the impact of nomics. fiscal stimulus is a key feature of so-called oben nomics the name given to the economic policies of prime minister shinzo ave they were intended to address some of the weaknesses in
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the world's 3rd largest economy one key source of concern is a drop in exports driven largely by weakening demand in both the us and china another worry is falling consumption which experts are attributing to a recent increase in sales tax. but the money is also intended as a preemptive measure some analysts are concerned that the economy could slump after the flurry of activity spurred by the 2020 tokyo olympics hangover that a country with a debt burden twice the size of its economic output can ill afford to bear. some of the other global business stories making news. in new finance ministers say private digital currency such as facebook should not be allowed in the block until all possible risks they pose are assessed the move confirms the tough stance that you has taken on the proposed cryptocurrency since its unveiling by facebook in june. france is facing
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a nationwide strike that could last several days unions are protesting against president manwell mccall's retirement and pension reforms trains and public transport have stopped running and many schools are closed. the driverless car technology race is heating up in california chinese startup auto x. backed by e-commerce giant alibaba has applied to begin test rather to begin testing driving vehicles without an in-car backup driver in the u.s. state this makes auto x. the 1st challenger to google's autonomous driving venture way moe. and huawei has launched a 2nd legal challenge to its treatment in the u.s. a chinese company says a rule prohibiting american phone carriers from using government money to buy its equipment is unconstitutional that ban put in place by the u.s. federal communications commission is part of washington efforts to limit while ways
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market access the company accuses the f.c.c. of failing to quote unquote verify the facts before labeling it a national security security threat. now a vote isn't gifts have become a more common way for people to communicate worldwide and in china online stickers made by artist are all the rage and they've even given their creators the opportunity to make some big bucks that is as long as they stay within the country's strict censorship laws. nice silly piggy this little creature goes through a range of emotions from pure joy to utter frustration at the drudgery of a boring office job silly piggy's antics have struck a chord when it 1st appeared in china's popular we chat user sent it more than 30000000 times in a month seeing its emotional range as an ideal way to express their own feelings in text message form. it's so cute and it reflects how young office workers feel
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inside me even though it's grumbling it can still express in a really lively and vivid way an illegal search engine. for the creator river e it's been a godsend she came up with. the character was working in what she regarded as a dull office job now the artist runs her own studio and signs autographs for funds . in a country of 850000000 mobile internet users reverse creative doodling has proven lucrative. place feel really happy time until. some friends feel proud of me when people they know share my stickers. i think of guys and bolts and they tell them i know the person who made those and they feel threat. it's really flattering and it makes me very happy. to. see. river has enjoyed been able to make money from her art she don't need to be
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careful though in order for silly picky to stay online it needs to abide by some strict chinese censorship laws once when chinese president xi jinping was compared to winnie the pooh the country bear was suddenly no longer available for download. all right that's it from me and the d w business team you can of course find out about more about these and other business stories online at d w dot com slash business and you can also check us out on facebook and twitter statement to d w i'm stephen beardsley in berlin thanks as always for watching. cleaning
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