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tv   Business - News  Deutsche Welle  May 17, 2022 4:45pm-4:58pm CEST

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hello, welcome to the show. i'm seeing beardsley in berlin. it's good having with us. we begin to sri lanka where the country's new prime minister, renelle victrum, a singer says the country desperately need $75000000.00 within the next few days. just to afford a central imports, including medicine and fuel. he won the sri lanka, had enough petrol stocks through the country and explained to them why we've got ourselves in this situation and what we need to get out of it. then i think there won't be so much of fat address star disturbance and responding to the difficulties of the economic situation. but as the other day i mentioned that is the political right. i think that will be addressed. and the protest as will continue if the political reforms are not addressed as well with those political reforms include the president leaving office. do you think do expect that to be a demands that will have to be met in a, in the days ahead? well, something has to be done with regard to responding to that core demand and persistent
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demand of the demonstrators. perhaps the time frame has to reset the executive presidency has to be abolished. and also, a definite date for a new election have also got to be muted. how did it get to a point where according to the new prime minister, there's a single days worth of petrol left in the country? how did it get that far? why we're no appeals made earlier for support or worthy? well i think it's because of the incompetence and capacity got them on the part of the raj box of regina. they used up all our foreign exchange reserves in terms of paying credits as an international bomb holders. and as a consequence, we didn't have any foreign exchange to get the bare essentials in terms of food, food. what does this mean for those on the ground, for the, for people and how they're living, how bad is the situation? can they still afford food, for example, across seattle? it's an unprecedentedly bad situation. it's the worst that this country has ever face. that a people who don't have 3 square meals a day, a day's,
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a shortage of drugs, that constantly standing in queues for fuel and for gas. so it's. busy very grip and as the prime minister said, it's going to get worse. the prime minister also said that they need $75000000.00 in the next few days. where's that money going to come from? well, hopefully the money will come from our friends in that in gaze. one japan is another . we have to get the bridging funds in order to tie dash over the period before the i m f deal kicks in. if it is going to pick it right pocket. so to serve on a motor with a center for policy alternatives in colombo as a capital sri lanka. thank you very much. and out of some of the other global business stories making headlines, shares of india's life insurance corporation dropped more than 8 percent on their 1st day of trading. and the biggest ever i, p o is part of an effort. why prime minister in orange remote to sell off state
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assets in order to monetize nationalize companies for the fiscal deficit of more than $200000000.00. full automates lensky says his country is facing a monthly $5000000000.00 budget deficit due to war related cost. ukrainian president brought up a spinning squeeze during a video conference with the international monetary fun saying afterwards, he's looking forward to working with the i enough to maintain ukraine's financial stability. we do not. leah comic picture in the you isn't pretty. 2022 was supposed to be a year of recovery from the pandemic. now, the u. s. flirting with recession. the latest number shows gross domestic product in the euro area. that is the 1000 countries that use the euro. currency has grown by meagre 3 tenths of a percent in the 1st quarter, and that's after rise of half percent the previous quarter. look back in the past 2 years tells the whole story with the crone of ours. pandemic hitting the economy hard early in 2020,
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causing g d p to fall steeply. then came the slow sort of recovery, which itself was stopped in its tracks by war. and that's helped further drive up energy and food prices. a china is 0. coven policy has exactly helped it's force businesses there to shut off for weeks. some of those closures absence ended, but they're deepening the supply problems in europe and in other parts of the world are at hawkish meeting as chief economist at baron berg bank. he joins me now for more. hold are going to have you on the show. what is the danger of recession in europe? is that realistic? well, a recession is not likely. it is a risk, but more likely we will stay in sort of sex lation for a little while sex age means hardly any growth and very high inflation. recession is possible, if, for instance, there was another shock, such as even worse, the supply chain issues with china, or if europe indeed sees, is to get any natural gas from russia. then we will be talking the session for now
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we are looking at stake. lation with a good chance that the some of the situation could improve as there is a lot of pent up the mom, especially for some already days after the pandemic. also in summer the european central bank is hitting that it could go ahead and raise interest rates. what could that mean for low growth countries? well, interest rates are so low in the years on the property. a modest increase in them would not do a lot of economic damage. we probably would have in italy and spain, portugal grease be able to cope with somewhat high interest rates after on one side effect or inflation. is that tax revenues, for instance, on value added tax rising. so as long as the e c, b does not really over do it. we probably would not be facing serious risks to the
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financing conditions for these countries. but of course, in europe is always an issue. we need to watch a briefly, if you can, other signs of optimism, for example, maybe the euro's weakness against the dollar. would that benefit export? the us? well, excellent order books are so full already that the witness of the euro does not make a major difference. what we're looking for for signs of hope is how the situation in china is evolving. hopefully not getting much worse, and also with energy prices finally stabilize. that would be good. but for now it's too early to say you should be optimistic. the next few months will be spec patient and over the summer, hopefully things could get little bit. all right, hold this meeting, chief economist and back bank. thank you very much. germany will end its importance of russian cold the summer if everything runs according to plan . replacing the fuel means looking elsewhere, including as far away as columbia. our next report shows us the cost of coal mining
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on local residents health, and on their land. louise's can breathe more easily. the 8 year old has more strength and will to learn. his mother says the only option they had left to improve his health was to leave their home village of province. young ramonica miss one of the others. it all began when he was 8 months old lamb. at 1st he had a high fever and couldn't briefly alaric those were his 1st symptoms that seemed to mike and lydia loose. oh, diana said that the coal dust emitted by the sarah horn mine made melissa sick. the giant opened cast mine and said a home has been encroaching unproven cl, a settlement of columbia's indigenous while you people said a home is growing in part due to the millions of tons of coal and to germany. companies like winnie power and art of u. e. use colombian, coal to fire their power stations, lose sued the mine a few years ago, winning a partial victory courts for cetera home to take more precautions, but local, say to little was done for my kid,
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amos k. i like now they ask around in the village how they should do their blasting as an and then what time. if that's a disrespectful, it's as if they're asking, how should we kill you will get a a sack and we'll get a get. they might be for local villages. sarah horn is controversial, some hope for jobs and columbia, sick and poorest region. others fight against the mine, run by swiss corp glen core, including me, science, so got us. his daughter's skin is inflamed. he blames air pollution from said a home is when the activist wears a bullet proof vest strangers of attacked him several times. me sail documents, how the natural surroundings have changed. the river is polluted and he wants europe to know it. ah, yes, i wanna get lucky cool that useful over there. but here the damage is great and irreversible meizlish. there are thousands of families who are being harmed by coal
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extraction gathered won't be able to name up the latasha, the ghetto. the fight is taking place, in course, such as over the bruno river, which said a home has diverted by nearly 4 kilometers. the will you say the mine is cutting off their water supply? but said hoon argues the diversion is exemplary. we asked the company about the accusations, all of which it rejects, saying they respect human rights, abide by the laws and the thresholds and reduce dust. german coal buyers also support sarah horn, human rights activists demand, and they should finally apply more pressure vignettes. if coal imports from germany now increased than we fear that indigenous people in columbia will pay for prudence, war and ukraine will unit san van luce audrianna shows us where her house used to be in proven see out the explosions caused cracks to form until the house collapsed another reason why she continues to get involved said a home may have taken away her home, but not her fighting spirit. and here's
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a reminder of a top business story. sri lanka desperately need $75000000.00 within the next few days to afford essential imports including medicine of fuel. that's according to the country's new prime minister, ronelle wicker. i'm a single you warns the sri lanka had enough petrol stocks for just a single day. that's or show find out more line he w dot com slash business with a pulse with the beginning of the story that moves
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ah, this is dw used life from berlin itself. so siege ed's russia says it's captured more than $260.00 ukranian soldiers hold up in the steel mill. the troops had taken to territory held by russian forces when moscow says they'll be given medical treatment. ukrainians had been trapped in the still was 4 weeks. we made the sister of one of the fight as in the as all regimented mario apollo, who still waiting for news of her brother. they also hear about the regiments controversial pot. plus the u. s. president pays his.


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