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tv   Business  Deutsche Welle  December 12, 2019 4:15am-4:31am CET

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app to send us your photos and your video. you're watching the news live from berlin coming up the most valuable company in history its saudi oil giant aramco making a record breaking market debut that's up next in business with chris colfer don't miss that all the latest news in the meantime available around the clock on our website that's dot com that's wrong. and now look at me affectionately agent but as affectionately as you can. put it in the middle of his election campaign in the year 2000 a documentary was filmed for russian television. did you turn the camera back on of course the film secretly chronicled a power grab actually everything was precisely played instruction. featuring top supporting roles to the freedom of russia. and featuring
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a lead role like you've never seen before. to let them hear that a marriage to the ends justify the means. to jin's witnesses starts december 13th on d. w. . move aside apple saudi aramco is now the world's most valuable public company shares of the oil giant make a strong market debut and give crown prince mohammed bin salmoni 1st stopping stone to overhaul saudi arabia's oil reliant because also on the program the world trade might be slowing and global risks on the rise the fed says the u.s. economy will be just fine and spain has a huge problem with droughts the o.e.c.d. says deserve
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a few occasions it is already widespread as mcgriff fails to implement effectively . laws against climate change. is called are welcome to the program it's a margin debut and one with authority one and a half percent of saudi arabia aramco went up for sale on its domestic stock market it was enough to make the state all giant the most valuable publicly listed company in the world even if interest outside the gulf states was much lower than the saudi leadership had hoped for the record breaking i.p.o. provides the oil rich kingdom with urgently needed cash. this is what it looks like to launch the world's most valuable company on the stock exchange for the 1st time. saudi aramco pride and joy of the saudi arabian royal family kingdom has gone public to made its long awaited market debut in riyadh on wednesday to much fanfare to nearly 3 trading the shares reached
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9 dollars 39 each that was enough to hit the 10 percent cap on daily price rises devalues the company it's almost $1.00 trillion dollars short of crown prince mohammed bin salmond's targets 2 trillion but nevertheless seen as a cause for celebration. today the kingdom of saudi arabia is no longer the only shareholder of the company. more than 5000000 shareholders have joined including citizens and residents in this kingdom and other c.c.c. countries in addition to saudi regional and international investment institutions this is a day when everyone in saudi aramco and in the kingdom can be immensely proud. however the listing is not all it was meant to be the idea was originally conceived to bring in foreign investment but in the end there was limited interest from
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abroad and the original plans to list in london or new york was shelled. nevertheless a key stage of crown prince mohammed bin salmond's economic liberalization plan is now complete saudi is pushing itself away from its reliance on oil and finding new ways to make money. we asked investment analyst tell me why such a massive i.p.o. was only launched in riyadh and not at one of the big international stock exchanges . that was the thought it would list in london or new york international investors were really concerned about the valuation demanded 2 trillion and international investors just didn't think it was worth that much and also you've got all the political interference you know political interference in terms of business decisions they'll be you know that would be quite messy and also international investors do care about. you know the environmental social and governance issues
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and certainly with saudi aramco and saudi arabia itself there are a lot of those could. ultimately resulted in only a saudi listing and that's one analysts tell me speaking there now the u.s. federal reserve has left its benchmark interest rates steady and signals that borrowing costs are likely to remain unchanged through next year fed chairman drawn paul said he believes the central banks current monetary policy would support sustained growth a strong labor market or cheap inflation near the targets 2 percent of its overnight lending rate low remain between 1.5 and 1.75 percent calls rate cuts earlier this year let's bring in our financial correspondent in new york yes so the fed's view on the u.s. economy is basically everything's hunky dory is it. at
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least a very solid we had we did see some weakness that's what the federal reserve mentioned in business investments and exports both probably because of the trade disputes that we're seeing especially between the united states and china but if you look at the job market that is red hot we are at the lowest unemployment rate in 50 years but even. the fed chairman did not call the job market hot he was asked when would it be hot and he said well if something you need to teach to have something hot and was he means we hardly see any wage inflation overall in frazier's inflation remains pretty moderate and therefore there was also no reason to increase rates and yes and none of the policy makers suggested that lower rates would be appropriate next year what are we to take away from that.
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that's what the market expects at this point that we might see no movement to whatsoever with interest rates in the united states next year and then maybe the next step and 2021 could be rate increases well we should forget a couple of things 1st of all the federal reserve does not really know how the trade disputes develops of the federal reserve reserve does not know for certain how the economy will improve or not in the next year and then looking at 2021 u.s. president gets reelected it is pretty unlikely at this point that the fed chairman jerome paul will get another term starting training at $21.00 so there are still a lot of uncertainties but at least at this point nobody really expects to raise change also not decrease any time soon there are several reserve keep interest rates on hold against quarter reporting from new york instincts which. but there it
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is currently at the center of the u.n. climate talks holst of the cough $25.00 conference spending government officials like to emphasize spain's firm and gauged the battle against global warming but the country's continuing political deadlock is hampering efforts to effectively deal with climate change. for months one month to ron has been feeding his sheep a. because the area of land where they should be grazing on fresh grass now looks like this problem is that we've been suffering from drought began last year that's why i have to give my animals they already made feed. he took up sheep farming after the economic crisis forced him to abandon his job in construction but now aquaculture too is proving unsustainable this time it's drives
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that's threatening his livelihood he reckons he'll be able to survive for another year or so. before i spend 50 to 60 year olds on cheap every day that goes on the corner and hey hey really is a luxury item. in the summer it cost me a euro $40.00 or $150.00 now it's more like 3 euros. drought stricken fields and dried out lakes in an ordinary year you'd record or rain 600 liters of rain per square metre this year it's around 70 this situation is very different on the coast where green has this dominate the landscape strawberries are big business here. environmental activist philippe fuentes says the cause of the drives isn't just climate change. the lack of water and the steadily decreasing rainfall at this time of year our science of climate change on
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top of that the authorities aren't doing their jobs and the water is being used illegally. that environmentalist say the scope of the problem is enormous but the laws have been ignored and the whole world knew about it this applies to some 2000 hectors. berries play an important economic role here but in the long term the lack of water could become a major problem some fruit farmers are already causing to and on their water usage what we can cut water and fresh allies east by 20 percent. mean while sheep farmer one man you are wrong is hoping for rain if it doesn't come soon he may have to pack it in and begin afresh all over again. and staying in mental issues air travel is responsible for around 2 percent of global c o 2 emissions and yet despite the climate crisis more people are traveling by plane
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passenger numbers have risen steeply over the last few years particularly in asia. the rise in air travel is good news for the leading edge craft manufacturers has plenty of orders to fill in the next 2 decades european and travel is expected to double. many large airports are being built across asia including beijing's dashing airport once completed it will boast 4 runways. last year the asia pacific region has the largest share of international air traffic with almost 34 percent followed by europe with 26 percent and north america with just under 23 percent. africa lagged far behind with just 2 percent. but the sector is likely to grow rapidly in some african countries this year uganda relaunched its state carrier
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uganda airlines after it was grounded for 17 years other countries like rwanda have high hopes for then national carriers but most of them are mired in heavy debt and fares are too high for many consumers on the route networks and limited and complicated last year nearly 30 percent of seats on african flights were empty. and that's our show. thanks for watching see if i could.
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play. into the conflict zone with tim sebastian coe my guest this week here in rome is the jesuit priest father holmes solo who is a media exploits closer to abuse him over kludgy as the boss of go suicide a bald little churlish for way and continues to provide opportunity as cover the priests who commit to hold close conflicts next on.
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europe. look united. to fight. the book's tragic push. what binds the content to cover the fencers and stories aplenty the. spotlight on people. thanks. 60 minutes w. . bush had a fling stis is speaking when i come to the show with a ding dong xoai. concerts with asterisk in.
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any credible looking. hour i. will come tonight. 3 weeks w. . i see change happen people just don't believe in the church the catholic church is not a monolithic block you will lose this year on the holocaust hurndall sexual abuse in the cafferty. file to satisfy victims' groups which still insist that the innocent are at risk from predatory. i guess this week period roe is the jesuit priest father hans solo who was a meeting expert on such abuse among the clergy is the vatican serious about real change or will it continue to provide opportunity and culpa to priests.


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