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tv   Business - News  Deutsche Welle  April 16, 2018 1:15pm-1:31pm CEST

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that was humbling competition and this is the double mini trampoline for russia's. gold medal. you're watching d.w. new still to come buried in rubbish a waste crisis hits major indian cities but one entrepreneur has come up with a way to turn the time to. get itself i think that's coming up with in business. with different languages we fight for different things that's fine let me all stick up for freedom freedom of speech and freedom of press. giving freedom of choice global news that matters. made for mines.
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my city. tomorrow today. w. . another front opens us the trade dispute between europe and the us goes on line now the us sternly rejects the e.u. plans to tax profits but sales of american tech giants like google and amazon. see the little rise in freefall but the government disagrees with the call. this
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all means to hold its decline and points to a conspiracy. and that as money and all that is how an indian company helps garbage pickers out of their miserable existence into regular employment. hello welcome to do your business and get out of office in berlin u.s. president donald trump is firing back at european commission plans to slap new taxes on u.s. tech giants the german business daily hundreds but claims now the u.s. is accusing the e.u. of violating w t o rules with its so-called digital sales tax let's have a closer look at that this tax would apply to companies no matter where they're based the tax could amount to between one and six percent of sales not profits that means companies like amazon would not be able to avoid it by reporting low profits or using tax havens and the tax would be due on all activities that explode use the data that would be heating facebook and google the u.s.
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says that's unfair because the new taxes are designed specifically to tax huge american corporations it only affects companies with at least seven hundred fifty million euros in worldwide sales of facebook's gondolas strengthen the news hand as it prepares to introduce new data protection laws so it might find itself in a stronger position to face down washington in a possible dispute at the w t o now let's bring in our correspondent in brussels terry scholz terry trump is wants to complain to the g.a.o. says the hundreds blood what are you hearing there in brussels. idea heart well i just spoke with the chief economist at business europe james watson and he said that he would find it very surprising if the european commission would propose a law propose a tax that didn't fit with w t o standards and so he doesn't necessarily think that president trump would have a case of the w t o but what james watson does say is that business europe itself
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which is the umbrella organization for businesses all over all over europe is itself unhappy with this tax because he says it violates o.e.c.d. principles on taxing revenues rather than profits and so there's a lot of dispute here in europe about this tax but he doesn't necessarily think the w t o will be the venue where that plays out speaking of the daily show terry it's quite interesting isn't it that donald trump. takes the institution seriously criticized like a few others. that's right a president trump has in his long line of complaints about international organizations has included the deputy oh and said he doesn't think it's competent to rule on on this or that so it is interesting that he would then announce that he may although it hasn't been announced yet i should point out that he may be trying to take this particular case to the deputy oh at the same time the court itself has
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has been in the spotlight with president trump using its national security exemption to threaten the european union with the steel and steel tariffs that we've been discussing now for the last several weeks and that national security exemption is now being proposed by other countries to use. in making their own sort of protectionist policies so the deputy oh i expect we'll be in the spotlight as we continue to see the tariff disputes play out and i've also been told by business europe that this case is expected to come of this very day in washington where business europe and the american chamber of commerce are holding a transatlantic business summit so it's expected to be on the table there today in washington. brussels shedding some light on this dispute thank you very much terry. turkey is finding a growing currency crisis even though turkey's economy seems to be ticking along
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nicely it grew by more than seven percent last year stronger and china's but some economic indicators seem to contradict that the turkish currency the lira has been on a continuous downward spiral so what is really going on. turkey is cheaper than ever for foreign tourists the turkish lira continues to hit new lows against major currencies. it's lost nearly half its value against the euro for examples since twenty fifteen. but although that might be great for foreign visitors it's a huge problem for the country because it has to import commodities like oil and gas the country's central bank could apply the brakes by raising interest rates but president wretched tired out of want has hamstrung that idea so he's betting on a looser monetary policy that wants to be tamed low interest rates to help drive economic growth and he accuses those who aren't of the same opinion of being tools
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of western powers that are want to tributes the fall of the leader to turkey's enemies. turkish companies are suffering the country's largest manufacturer of food products isn't debt to the tune of billions in hard currencies but in its home market sales are in default lingle iraq has already warned that it will soon be unable to meet its obligations all told turkish companies oh creditors around three hundred billion dollars some economists now believe turkey could be the flashpoint that sets off a new financial crisis. well that surely is a lot of money and how dangerous is this situation both for turkey and for the rest of the world economy let's bring in professor. he's with the university of applied sciences in constance would you agree with the report can tell he's economy trigger
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another economic crisis in europe due to the huge debts that response and the companies have accumulated. i would be not so pessimistic and it's true that in particular countries like spain and italy have provided to credit for these huge consumption driven growth in turkey but at the same time we had this risk test of the european central bank i would go so far and say turkey is collapse financial collapse would trigger problems in the european union but it would be not a large scale crisis as we have for example in two thousand and two thousand and nine. mr advani says that foreign policy hard work to do rail the turkish currency in one's low interest rates does he have a point. i mean political intent to have a different view on this issue the fact is that the turkish leader eyes under pressure because there is a mounting imbalance in qif indicating figures we have on the one hand is strong
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domestic growth in turkey but at the same time inflation is at double digit and the central bank does not intervene so what we see is that the capital markets actually take the road which the central bank should take and namely prohibiting an overheating of a domestic growth but seems to be not provided by a growth in output. the growth figures seven percent instead believable is the turkish government being creative with. publishing their figures. i mean this is a difficult question and to be fair in our assessment it's like the turkey is going through a difficult situation on the one that the country struck tried to stimulate growth by massive public spending and of course this had a positive effect. on turkey's growth rate but on the other hand there is this massive intervention political intervention that the central bank should not increase interest and so forth you said it and it the good news is that the system
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the economic system works capital markets while the exchange rate basically counterbalancing a potential overheating in turkey so i don't see a kind of negative evil capital market actors acting against turkey in the contrary capital markets try to prohibit an overheating a purely consumption based growth in turkey. from constance university of applied sciences thank you very much for your analysis thank you robert on the streets in the rivers and in the city india is sinking into a deep waste crisis the problem is particular prevalent in the capital and other major cities due to a lack of efficient disposal systems throughout the country now one entrepreneur is fighting against this wave of garbage. india's economy is growing and with it so are the mountains of rubbish garbage has
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been piling up for decades in the country's major cities. functioning disposal systems instead millions of illegal waste collectors wait through the rubbish and separate the trash from the treasure it's a dangerous job. you could. never know what. they don't wear any safety gear so if you have lost everything in life you have no life that's. because. now i got garbage has plans to tackle india's waste crisis with the help of rubbish collectors workers can separate the rubbish in the recycling factory instead of on the street. so we're going through as much. as possible to get to fix.
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the company collects and analyzes data from junkyards waste collectors and domestic households to make the system more efficient. the information is then made available on the internet. the company is currently supported by indian i teach mindtree but in a few months it plans to break away by itself. is ation is set to be deployed across the country to help eliminate india's garbage. that's from the business scene. for you obviously but i just thank you very much for watching.
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