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tv   Business  Deutsche Welle  October 29, 2019 7:30am-7:46am CET

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big brands have committed to fear working conditions in sustainable production. but who is monitoring the some contractors. and investigative documentary goes to italy and china and looks behind the glamorous facades of fashion houses. luxury beyond the earth starts a new membership on t.w. . no deal in the sun russia and ukraine failed to agree on a new long term gas transit contract which has europeans fearing they'll be the ones ending up sitting in the cold. and lebanon central bank wants anti corruption protests could cause the economy to collapse but demonstrators say the bank is part
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of the problem. this is your business on the get out office and berlin wall come negotiators from russia and ukraine have failed to agree on a new long term natural gas transit contract and fears are growing in europe that it could be a cold winter russian gas bound for the e.u.'s currently pumped through ukraine and disagreements over payments have mob relations between russia and ukraine even going so far as to freeze gas deliveries before western europe is dependent on russian gas so other transit countries with which they russian pipelines past but the new undersea nord stream to pipeline bypasses countries like ukraine and changes the game completely russia can now effectively weaponize the pipeline by cutting off supplies to come trees like ukraine while keeping western european customers supplied. this is the end of
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a very long pipeline 200000 steel tubes running 1230 kilometers under the baltic sea the energy megaproject nord stream to is almost complete. russia says the old pipelines that brought its gas to western europe have reached their capacity limit north stream to adds to more lines but it also makes russia far less dependent on the pipelines that cross ukrainian territory and that makes ukraine nervous it needs gas but relations between the 2 countries are better russia's existing gas contracts with ukraine expire at the end of the year and with north stream 2 coming online it's in no hurry to renew them the e.u. has tried to mediate in vain. the time he's flying and given the date. and there must be a clear sense of urgency therefore i appeal to everyone there on the table to be as
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constructive as possible unfortunately i have to say that i'm disappointed by today's outcome and i say this very open. moscow has so far rejected the european commission's proposals russia hopes nord stream 2 will soon give it a direct route to gas markets in western europe while freezing out here crane. let's go straight to our correspondent. in brussels who's following those talks ben what is your up trying to gain there with these talks europe in particular. the main goal of the e.u. is of course security of supply for europe itself do you does not want any disruption of supplies from russia 10 years ago you experience a short disruptions of 4 weeks but also you have to say that the gas storage facilities investor new yorkers are completely full right now so europe
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could bridge a disruption of about 2 or 3 months quite easily why is europe so depended on russian gas in the 1st place but that's dependent on the nature because russia is the main source of natural gas in the world it still has the biggest gas reserves its close a good year graphically speaking to europe so it's a natural gas supplier for europe and this is the history of supply goes far back to the soviet union it was always russia that supplied the best in europe and also germany for example of its most of its gas well it isn't europe sort of on the russia's thumb there in a while in a way can can russia blackmail europe all the political issues they ukraine for example. well that but big difficult for russia because russia is also dependent on europe and also on the custom as russia has to to sell its gas 60 to 70 percent of
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the budget of the federal state budget in russia dependent on the revenues from gas so they have to sell and europe has to buy it's a double dependency it's another story for ukraine ukraine is not buying gas anymore from russia it's now getting its gas actually from vest in europe but ukraine is dependent on the fees it's charges for gas transported via the pipelines running through ukraine and russia wants to get rid of these fees and the dependency on ukraine and therefore is building these new pipelines around ukraine terex stream in the south and north stream in the north. thank you very much. google's parent company alphabet said its quarterly profits fell 23 percent to $7000000000.00 mistake market expectations alphabets as profits were hampered by rising research and development costs the company is trying to maintain growth
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while investing in a variety of new gadgets and services revenue growth from advertising is also down . its leaders says the city is ad risk of falling into recession as it enters its 5th month of pro-democracy protests tourists numbers have plummeted to carry land said and that retail businesses hurt as they have been forced to shutter their doors during protests and rallies. after 5 months of pro-democracy protests some people in hong kong are tired of the demonstrations and blocked roads the city state's divided community is on edge many were looking to carry lamb speech and choose day to see whether she would yield to the protesters demands she issued a warning that things you don't often see need all that there is a large likelihood that for the year 2019 we will see
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a full year recession that means we will reach 0 to one percent growth so this situation is highly serious in addition as i have stated in the policy address the hong kong government will closely monitor the development of the economy and take appropriate measures. on the 2nd bullet issue one gets o.c. . also said her government will tackle protesters who resort to violence head on the hong kong government isn't backing down and neither are the protesters. the standoff in hong kong could continue to hearts the asian financial hubs economy. lebanese banks will stay shut on tuesday images the ongoing unrest demonstrations have paralyze the country and for a long closure. banks has raised fears of an economic collapse central bank governor selami says a solution is needed within days to regain confidence and avoid collapse in the future and his efforts probably won't quell public anger protesters say the central
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bank is part of the problem. on monday the protests continued all over beirut in places the blockade looks a little like a street party but looks can be deceptive people are angry. that isn't a good 30 and if we do not block the roads then we can put pressure on the government to get me going we need to bring all the people to the streets and not only those who are already here who had it and then the government will be forced to listen to us somehow. a group of protesters also blocked the road leading to lebanon central bank on monday. dozens of people called for the resignation of the bank's governor riad salome. this is the central bank this is the location where the corruption of the comparison is of the headquarters on the well that we're dealing with reading in the press the formation of all the hundreds of millions of dollars that have been taken away from the people and also calls for
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the people it's going on naturally and it shows that the inside is alive it shows that there are you through have aspirations for the life quote about the government . the protests against corruption poverty mismanagement have paralyzed the country bank schools and many businesses are closed but so far there's no sign of the government giving any ground to the protesters. the angio human rights watch found faubus a report finding that u.s. sanctions against iran through. to iranian access to a vital médecins despite this iranian companies are doing what they can to do business in other countries and they are getting very creative to do just that for this construction site is located an hour's drive from the arabian capital tehran it will one day house a factory that produces medical implants it's the brainchild of entrepreneur ali
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amare i like yari. the idea came to him before the united states re imposed economic sanctions against iran the move is complicated business ties with other countries too including germany. from one years ago up to no. exports and imports of iranian. use more than 50 per cent and it's not good news and we ask from the german government that they find the real solution. germany has traditionally been an important trading partner for the country iranian companies are well represented at medical trade fairs like medical disorder of cheap labor and its advanced technology sector have made iran an interesting investment destination for german businesses but sealing deals is no
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longer as easy as it once was even for. yari whose medical technology company isn't directly affected by the sanctions. can relate to those difficulties he runs a company that makes medical devices used for lab tests the products are exported to armenia afghanistan and iraq but europeans seem to be interested in them too. they are surprised when they see our products and for iranian products it could have a very good day to eat the don't have negative at post were of sanctions even i heard some countries deal a lot of iranian companies to have standing next to be sions instead of our main problem it is money transfer in to try to find ways to continuing our business back to the construction site. our is hoping to have about 100 people working here in a few months from now he's not concerned about demand but he is worried about how
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his foreign customers will be able to pay him pressure from the us has discouraged most international banks from facilitating bank transfers with iran. you need to solve this problem and we have a lot of ground to do something with the european countries and companies and a good result in this case but i think that is situation it's very difficult for commuting. despite the difficult conditions marianna yari is determined to attend the next big medical technology trade fair taking place in germany next month. and that's it from me and the business team and berlin for more check out our website that's g.w. . saves us arts and culture is next. after
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the fall of the berlin wall november night. and welcome to news from the world of arts and culture lucian freud was one of the greatest painters of the human form there's a new exhibition in london just opened of his self portraits also coming up. a series featuring featuring artistic people from the former east germany and how
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they experience the fall of the berlin wall 30 years ago. and in 100 german must reads a novel that just couldn't get published in german until it 1st became a bestseller in america. lucian freud was one of the most celebrated portraits of our time and throughout his life he regularly painted self portraits to these give a fascinating insight into his psyche especially when you consider his words when asked if he was a good model for himself he said no i don't except the information that i get when i look at myself that's when the trouble starts well as an exhibition featuring all this trouble at london's royal academy of arts. exposed yet imposing the great painter lucian freud put himself to canvas as the embodiment of his own unmistakable style.

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