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tv   Business - News  Deutsche Welle  May 6, 2022 3:45pm-4:01pm CEST

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welcome to w. a business turkeys sky. high inflation rate continues to climb. prices in the country rose by almost 70 percent and april. according to new official statistics. the new figure, gifts turkey, the dubious honor of having the 6th highest inflation rate in the world. it comes as president, reggie tay of out of order. one continues to insist, interest rates be cut to stem inflation. the opposite of what conventional economists recommends that the rising prices are putting further pressure on turks who are struggling to make ends meet. we ask them people on the streets of a stumble, how inflation is impacting their lives. i had missed your inflation is in much higher than 70 percent. it hasn't even passed 100 percent. there is an incredible increase, so i don't know that our end is not good at all. it's a nightmare. everyone's life is a nightmare. everyone worried? what will happen to morrow? no, we do. where are we headed? everyone has that fear. form a little busy. the situation is breaking asada to lose or having
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a 100 layers to spend used to be a huge amount of money. was enough for 2 or 3 days you little. but now a 100 lear is just evaporate in an instant on me 3 videos, alma, begin live on an on you to miss it stumbling. did you? i don't see a way out. it seems to me that we are completely something i don't think there's a solution for that. and from the minimum prices of many products i buy of increased at least 3 times. inflation is at 70 percent. now they say, but we can do the math. it's way more than 70 percent. i don't trust the government figures. anybody seem like a lot of the for more i am right now by my colleague and a catchy, a crown. 70 percent is an unfathomable number for a lot of people. break it down what this means in practice and people's daily lives . wow. what it means as a citizen, say, so nightmare in turkey. basically, this is the official figure which puts turkey the 6th position in the highest inflation league. and this is the official figure. so there are many express today
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in turkey, analysts and economy saying that the real life inflation is much higher, especially in the food prices. that's all that obviously is backbreaking for working classes in turkey. so it is indeed a nightmare. a lot of the economists on the say that president air to one's economic policies. we've mentioned it earlier. he insist that interest rates should be cut instead of raised, like most economists would think to contain this inflation. do we see any sign that he's starting to, to break away from, from that policy? and now that inflation is rising so much, not at the moment. no, because they are invested the government president that one himself is invested very heavily on this low rate policy. so this has started, but his agreed towards the end of last year. so the main principal was that lower interest rates, higher foreign currency, lower one for 2 extra,
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but it backfired on turkish people with high production costs for price hikes. so for, for the moment it, they don't seem to revert back from this and politically. what could this mean for president add on? there is an election next year. obviously this is an economic crisis for a lot of people. is it impacting his chances of reelection? we, we need to remember what brought to do on to power in 2002. that was the massive financial and economic crisis in 2001. so i came to power those part to came to power with the promise of stability. and wasn't welfare for this country and this crisis in 2001 wiped out the entire congressional political system in church. it broke a conventional parties below the low, the threshold and on managed to came to power a single part of government. so we are sort of facing a historical repetition here. so this isn't meant to be seen in less than
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a year. i kind of catchy breaking down the economic implications of the inflation surgeon 30, thanks so much for joining us. now to some of the other global business stories making news us playmaker. boeing is to relocate its headquarters from chicago to arlington, virginia then move, we'll put executives close to federal regulators and lawmakers, as well as a key customer at the pentagon. the crisis had company has been struggling to repair its reputation after 2 fatal crashes in recent years. airline giant a, a, i g excuse me, owner of british airways narrowed its 1st quarter loss after covert travel curves were lifted and forecast a return to annual profit. i g said the pandemic continue to weigh on performance, but the overall proportion of seats filled on flights was better than one year ago . as bookings accelerated in economy is reopened. now thousands of ukrainians are
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arriving in european countries every day as they flee the war in their country. besides a place to stay, many of them need jobs. eula lives. we're blessed ski recently arrived in berlin from kiev and is already working to help other highly skilled ukrainians find jobs . 4 weeks ago you will have fled to berlin from her hometown. key of the video editor is living with make sure whose company helps freelancer's navigate german bureaucracy. together. they came up with a project, filming tutorials to help you korean refugees find freelance work from with the cable kinetic what now it does when it is so 190000 ukrainians, leaves here. so in all of them are looking for work locally. so we just want to assure the people you can do you work like the world to market is to watch
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a young commentary to the quote on the to just organize their 1st information event for ukrainians, hoping to jump into the job market straight away from you there hopefully maybe for some of you, for lensing in germany it's, it's an optional can help you and your money. many of the almost 4000000 ukrainians who fled from the russian invasion to europe are highly skilled. most of them are women and a lot of these people here now they have already their clients. they're just bringing their business with their laptop to germany. that's the reason why, especially in this iteration, is super helpful to have him get an option to do online financing. while helping others gain of footing in germany, you. yes. also trying to find stability herself may shows wife bust, yen is helping her make sense of berlin's housing market. back and give you the i just bought her own home. then the war came to her doorstep. this is so my
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apartment and cave, ah, this is dead to the tower. i to sat docked. i was so it's home when the work is a talk starts. i saw it from moving though. so i was very skirt and that day i just decided to, to move to continuing her work as a video editor means taking part of her old life with her to berlin. it's like a destruction of all the problems, all the like. bad things that happened now freelancing as a way for you yet hind stable ground and germany while staying flexible. so that one day, she can return to her apartment and key of the with. now immigrants are playing
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a key role and driving innovation in germany. that's the take away from a new report from the friedrich. now mon foundation for freedom, their analysis found that 22 percent of startup founders and germany have a migration background. we asked the foundations chairman carl hines packet about why migrate founders are on the rise here. migraine found us typically are more risk takers, more internationally oriented, more ready to go for an exit strategy in the long run. they have a higher share offer. strong academic background, especially in natural sciences and technology and so on the whole, the structure is confirmed. we do have some more evidence on the obstacles in this new report. and in particular,
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the migrant found us complain about too much rocker, see about a lack of venture capital options and to some extent, also about racism. which is a feel in particular in dealing with the terminal iraq or c and backed germany is racing to become independent of russian fossil fuels and liquefied natural gas. delivered by cargo ships is a major part of its plan to get their work has already started on the country's 1st floating l n. g terminal. it's expected to inter service within months, laying the foundation for greater energy independence at the terminal that will allow germany to import gas by c. $150.00 steel piles will anchor the natural gas terminal to the sea floor. it's being built in record time liquefied natural
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gas is set to start arriving here by the end of the year. yeah, i think we have a good chance of doing something that looked impossible building and l. n g terminal within 10 months and connecting it to the german gas supply. golf long for floating liquid gas terminals will be built along the north sea coast. 2 of them in vill, homes haven't, and 2 and 2 other places together. they are expected to meet one quarter of germany's natural gas needs. the government is providing 3000000000 euros for construction key to the project. other special ships that convert the super cold liquid back into gaseous form and feed it into the gas network. on thursday, the german economy minister signed the contracts, the lease, the for vessels. it's much quicker than building land base terminals. although germany plans to build these to the sailors on board the ship. so all these steps will help germany move away from russian gas to pull it,
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it's definitely positive. everything that makes you more independent is always good jobs. yeah. yeah. jobs too. that is good for business. yeah. but environmentalists are critical over the construction. they fear serious effects on the coasts and inland waterways. germany still imports about 35 percent of the gas. it needs by a pipelines from russia before the war that share was well over 50 percent. the government is now planning to stop using russian natural gas altogether by 2024. in no small part, thanks to these floating gas terminals. and a reminder of the top business story we're following for you this, our data shows that consumer prices and turkey increased by almost 70 percent an april compared to the same period last year. turkey now has the 6 highest inflation
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rate in the world. and that's it. for me and the dw business team for more check us out. i d, w dot com slash business, and the d. w. news, youtube channel. we're also on facebook and healthy delaney and berlin. thanks for watching you next time. with with
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w. ah, this is the w news live from berlin. new attempt is on the way to evacuate civilians from the other style still planted. mario, we must continue to do all we can to get people out of these l scapes. bob, russia is reportedly continuing its ground assault on the last ukrainian stronghold in the.