tv Frag den Lesch Deutsche Welle October 9, 2020 6:15pm-6:30pm CEST
the students of the past. training successful. such as. starts october 16th. east african stock markets are joining hands they want to learn more capital and big businesses but kenya has pulled out of the planet's taking a lot of financial firepower with it. as a hot spot france is seeing record numbers. infections are rising across europe so are new fears for the economy. and thailand wants to cash in on the growing medical marijuana market that is so we've got the details. globe welcome to the show i'm
stephen busy in berlin it's good to have you with us and we begin today in east africa where 3 countries uganda tanzania and rwanda are preparing to merge their stock markets and the project is funded by the world bank and the aim is to make cross border trading easier tanzania's stock exchange features $27.00 companies with a combined market cap of $6500000000.00 uganda has 17 together with more than $5000000001.00 has 10 publicly listed companies have a combined value of 3 and a half $1000000000.00 now adding all that up the new joint exchange will be worth around $15000000000.00 and you can see behind me for a comparison kenya stock market is worth $22000000000.00 alone now the country was actually supposed to be part of the plans for joining us change but later pulled out and it's not only east african countries that are forming closer financial ties 8 countries on the other side of the continent have already joined an exchange together based in abi john that's the economic capital of the ivory coast. now for
more on this let's go to our correspondent in nairobi joy tureen beera. she's here there she is joy good to see you as always help us understand what do these exchanges gain by joining together. well steve by joining together and there is a lot that's happened and that includes the fact that now they will not be able to go through the whole process of cross border trading that takes up to 30 days that could actually be reduced down to 3 days and they could just directly cross that list that is the company's across the east african region and also the other benefits that it reduces the time taken and people can be able to buy and sell shares without having to use their own cars or in this case stockbrokers and those are some of the benefits that in looking at and it's also good you know chatting investors as well because. stocks do not really do well they're not considered
liquid enough to attract major illness. joy it's a big deal that kenya pulled out as if. it is a big deal because kenya alone you know could just stand alone on its own but then some of the reasons that kenya gave was the fact that they didn't trust of the software that was going to be used was going to do live on the project sufficiently and they also added that you know the capacity of the vendor to deliver was was a big compromised in the tendering process and so they felt that they needed more time but then this has taken quite a number of years maybe 5 years it should have been mentored by 20 teen but kenya still had its reservations and joy briefly could they come in later. absolutely they could come in later because these days quite a lot to benefit some of the major companies that are listed as in a really securities exchange also listed on the other countries and exchanges like
their own the stock exchange and the guinness book exchange as well as the direct them stock exchange and so can't joining the pool will just let me mean that it would make it more and it'd be easier for the companies as well to buy and sell shares and also it could be good for investment as well all right george beer breaking us to break it down for us from nairobi thank you as always. and on the subject of stock markets european exchange operator euro next is set to buy the milan stock exchange for 4300000000 euros your next as the acquisitional create the largest pan-european market maker to deal also benefits the london stock exchange which hopes shedding the italian unit will ease its takeover of financial data firm or offensive the you have expressed skepticism over that deal. so the l.s.e. in your next appear to be the winners of that deal is there a loser or financial correspondent frank for chelsea delaney thanks so. perhaps the
biggest loser after days is that it's your birthday which operates the frankfurt stock exchange share they were also in the running to buy the board. they clearly lost that and it comes after they've lost out on several big acquisitions in the past couple of years there's really a big push towards consolidation piano stock exchange operators right now they're facing an increasing amount of competition from the u.s. from asia from high traders that are really starting to dominate the market and with this acquisition with this deal next will really become the clear leader in the european stock trading business. right chelsea do indeed there in frankfurt and staying in europe infections are rising businesses are afraid the comment has long expected a 2nd wave of coke in $1000.00 cases in the fall and now it appears to be happening has turned into a hot spot prompting authorities here to introduce stricter closing times for restaurants and bars things are even worse in neighboring france which reported
a new all time high with almost 19000 new infections in a single day and paris all bars and cafes must remain closed for 2 weeks and other cities in france could follow suit in the belgian capital brussels to all bars and cafes have to close for a month a scotland has ordered the closure of pubs and larger cities such as edinburgh the whole of britain could soon join in meanwhile in italy it's now mandatory to wear face masks in public even outdoors and poland might even introduce a state of emergency this weekend to keep its soaring case numbers under control. well spain has been one of the hardest hit european countries throughout this pandemic its economy plummeted 18 percent the 2nd quarter and the news remains bad with tirzah at a standstill a spanish government has answered with social support programs including a short term work allowance guaranteeing workers 70 percent of their wages but for many getting ahold of that help has not been easy. volunteers prepare over 800
meals a day here at this emergency food bank in palma de mille yorka. melo is working in the kitchen he's a top chef but he lost everything because of the coronavirus pandemic. that's when all the problems began i had everything and then came months during which i lost everything was no help or a lot of promises but nothing came. 'd of. thanks to the food bank of the melos surviving he invested all his savings in a restaurant thanking the pandemic and the lock down the restaurant how to close today he lives in a tiny room beside the kitchen. this is sometimes you don't know what you're getting yourself into but it all happened so quickly that i didn't have time to react you always think i won't teach you want all the time comes. that. there are hundreds of thousands like tiago in majorca alone this crims social drama could get worse. 95 percent of all families who ask us for help have not been able
to pay their rent for 2 to 4 months almost none received the basic social income and many have not yet received the short term work allowance if they were entitled to toll. in madrid is painfully aware of this problem she's a dancer but she can't perform she's been trying to get support for months she also hopes to get a basic income that would give her 460 euros a month. yes that's here yet one more it's my last attempt to get any help the aid for artists isn't coming and i don't get on employment benefits either you . know one of the ministries involved can say why the aid is flowing so slowly the spokes person is not available for comment so we asked the trade union to explain. as you ation came as a complete surprise like the pandemic itself but on the other hand the idea of
basic income is something completely new that has never been seen before and these are new applications new permits. back in majorca tiago only sees his wife every few days she now lives in a neighboring town and also only has a small room to grow out of viruses separated them to mood is getting worse. or lies are dominated by fear and worry if you don't know what decision to make this uncertainty in the you know. this year an estimated 1500000 people are reliant on food aid from the government and charitable organizations. brief look at some of the other business stories making headlines the u.s. has imposed new tariffs on nearly $2000000000.00 worth of aluminum from 18 countries the commerce department accuses of dumping it as is this chinese aluminum dumping on other markets is this placing production from there into the u.s. at some 350 percent germany faces the highest tariff. the world's oldest computer
company i.b.m. is slipping itself into 2 units to diversify away from its legacy businesses and focus on high margin cloud computing i.b.m. will list its i.t. infrastructure services unit with a new name by the end of 2021 i.b.m. stock climbed firmly on the news. and germany's one time booming startup scene has hit the brakes state investment bank says there are 70000 of the small innovation driven firms in the country same numbers in 2018 the report as a weakened economy in a stable labor market mean fewer people are willing to take the risk. the british economic recovery slowed in august growing by 2 point one percent over the slows increase since the economy began to recover from the pandemic in may analysts say growth will slow down further in the coming months through the new kroner restrictions and concern over a no deal bragg's it. let's go over to asia now it's not a cure for covert 19 but it can help ease chronic pain in the symptoms of diseases
like multiple sclerosis cannabis has plenty of it in thailand and now the government hopes that it could also be a lucrative export. elsewhere it's inconceivable the health minister the man in the middle aging in the cultivation of cannabis and it in china virak will join the hundreds of employees of the thai government pharmaceutical organization g.p.o. in this ceremonial planting the shrubs will be used to produce medicinal products completely legally and on behalf of the state. had one lakh and. that mad but the greenhouse can control various factors about the growth of the cannabis i had and that my piece that. can that enables us to extract large amounts of cannabinoids from the plants you know that i'm basing that and then reduce the cost of producing it as a product in the future but i'm not quite that. for almost 2 years it's been
legal to cultivate cannabis in thailand under controlled conditions it's going well with some of the crop even being exported. for now only massive state run facilities like this one can grow it but the thai government is already planning to put medicinal marijuana plants in the greenhouses of private grows. and that's it for me. as always you can find out more about these and other business stories online at www dot com slash business on facebook twitter. thanks for joining us.
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