tv Frag den Lesch Deutsche Welle December 18, 2020 5:15pm-5:31pm CET
coming up next business juice with michael more news coming at the top of the al and until then you can get all the latest news and information of around the clock on our web site has to be found at home can also follow us on twitter and instagram the handle for social channels he's at news for now i'm anthony out for me and the team here in berlin thanks watch. people looking for coverage. there are many answers. there are many residents.
there are many alternatives. to. make up your mind. made for mines. zambia's leader has a new plan to save the economy dig deep if you don't build suggests the state take a majority stake in some of the nation's minds president admits investors could cry foul. comic is growing just about the no deal breaks it is still no trade agreement and time is running out the deadline is end of the month. but there is an even bigger deal inside the e.u. and china reach and in principle agreement on a bilateral investment pact it's been 7 years in the making. i think as well and
that's the business hands off our god given natural resources zambian presidents warning to foreign investments he set out a plan to save the economy including majority stakes in selected mines to benefit from its mineral wealth beyond taxes a bad day make has hit the price of copper which the country is hugely dependent on which is seen that search but the gold price has also surged and zambia wants to buy directly from miners to bolster its foreign reserves. it's a decisive time for zambia this new economic plan the follows a dismal year for the country and 2020 its external debt surged to $12000000000.00 now zambian president at galu goo is looking to sell his economic recovery plan to the people and to a certain extent the world the scheme includes the government taking majority stakes in the mining sector the country's main generator of hard currency but other
reforms are urgently needed zambian seem to agree it might be time for some hard medicine to bolster the economy realize some of the drugs was such a time out that some. of this comes the high school. with. that's almost the last house that this is a complex place listen when i'm with self not that you'd only get it when we come in for work we have no customers and not even a food to eat in the morning those who use transport are affected and we also need to pay rent for the shop but if it was. but what needs to be done exactly batswana disagreements begin. reese these there are still we gots. to be here. obviously countries out. there. maybe that could work zambia is still in talks with the i.m.f.
over a request for funding to carry out the reforms but the i.m.f. seems to skip to cope saying the policy should try to restore stability and protect inclusive growth zambia aims to encourage investment to strengthen the economy and the set to discuss other options in the coming weeks. tracking the story for us to ponder is it a case of foreign investors basically coming it digging up all those resources taking all the profits because all the government's been doing is taxing them and the states suddenly realize there's so much more money to be made if it takes control of the mines it's very complicated it's more complicated than that because government previous 7 something governments as well have been cold on to diversify the economy to reduce dependence on the mining industry which accounts for around 70 percent of foreign exchange earnings. that is definitely an issue and doing it
like owning more of the mines and you know running them more is now going to help the government because it's not going to change the reliance on the copper mining industry so that's the problem i think it's not gonna please anyone who's been critical of the way they call me is set up and it's already in dispute with mining multinationals how's that going to pan out exactly it's in dispute the biggest a few dispute being of a downs our resources dispute which started in may 2019 and the biggest mine coal a couple mines is in liquidations was being run by an administrator appointed by the government and that has been in the courts since last year so it's still unclear whether the dancer resources will be able to assume operate. about mine or not there was a court decision last month which sort of gave it an advantage but at this point it's still being run by the liquidator so what else is in this race q plan well the government has also mentioned agriculture or manufacturing and tourism and also the
energy sector as of the economy so that's what else is in the plan but it's lacking in details because of course we don't know exactly how the government wants to grow tourism as a sector or agriculture to really support you know farmers in the country i mean the farming farming is actually the biggest employer in the country despite being very small in terms of its contribution to foreign exchange earnings for instance but most work in farming or in some form of agriculture and the government has is yet to come up with a plan that makes that industry really really grow and become perhaps the country's most important sector for earnings and the thing is these reforms are meant to be pinned to an i.m.f. bailout is it going to get that probably not and there's a lot of reasons why that might be the case the zambian government the current government they have pretty much might not be the government after the elections in august next year i don't know i'm not you know involved in anyone in with i don't
know what the i.m.f. is thinking but i don't know if the i.m.f. will want to negotiate with a government that might be gone and that's one of the reasons so it's an election year a lot will be happening and the government might need to do more the pressure is on japan to jim baker thank you very much. now to some of the other business stories making news he african development fund has approved a nearly $10000000.00 grant to the small nation of guinea to sell money will go to help the country's coated response the development fund says guinea reacted quickly to the pandemic but its health infrastructure is poorly equipped to fight the virus . sony is pulling the much hyped game cyberpunk 277-2077 from playstation stores a week after its thank you they've been glitches and one complaint of an epileptic seizure the japanese company is offering full refunds it's one of the most
expensive video games of a made year and negotiators a striking a pessimistic turnaround breaks the trade talks says a new deadline approaches a uniter she. calls the situation grave i mean this to boris johnson says no deal of heat is likely for britain the european parliament says it needs the draft of any agreement by sunday. britain officially left the european union on february 1st and entered into a transition period pretty much leaving everything the way it was before breaks it the hope was a new trade deal would smooth out relations between the now 27 member e.u. bloc and the u.k. the transition period ends december 31st and so far there is no deal in place that's got companies worried. what happens that doesn't look larry look sure and yet what happens here is what makes a jack you are a check your fabric of flock is applied to central console's turning is simple
plastic item into a classy detail appreciate your landrover it's britain's largest car manufacturer responsible for just about a 3rd of the country's automotive output the company depends on many suppliers. who in turn rely on their own suppliers many located on the continent like the german company that produces the truck used here. it's called worried. if it's a 1st we have the extra cost of shipping anyway then we have the potential for terrorists which are 5 percent goods. of course we have the worry that. if they have a reduction in their sales they're not straight away. because if they're not they were. making matters worse it is hitting after an already tough year when the
coronavirus pandemic has cost the company 3 months worth of production. jobs on the line. and then with. the worry that we think. it's going to start. with the way. we just. see. things are going. no deal. here. the workers at last echo what a growing number of brits have been saying about rex that they wish it never happened. over 7 years china and the european union have been negotiating an
investment pact it aims to ensure companies on both sides have a level playing field on friday official said pushing to seal a deal by the end of the year. china is one of the most important markets in the world but european companies operating have long complained of unfair competition from state backed chinese businesses they're also frustrated by excessive fear across taken legal hurdles such as in the fields of fire tech or electric vehicles now with deal to regulate fair market access seems to be within reach. talks have entered the final stretch so. we believe that as long as the 2 sides take care of each other's concerns and can meet each other half way we'll be able to achieve the target set by leaders on both sides. but the agreement isn't without its critics in europe is it wise to quickly conclude
a far reaching agreement with china shortly before the new u.s. administration takes office the deal could risk pushing the e.u. into the center of costly trade tensions between the u.s. and china torn between the 2 sides on the other hand some say china's concessions don't go far enough still an agreement seems to be closer than ever germany is pushing for this and also france is pushing for this and many others because they see more business opportunities and it's also a chance to level out the playing field with in europe because so far john edwards also preferring some e.u. countries through its growth initiative. but the talks won't be over until a deal is signed on the dotted line after all the european chinese investment agreement wouldn't be the 1st major project to fall at the last hurdle despite years of negotiations finally 2020 was another good year for bundesliga
champions by munich but things are looking good for the club's pocketbook board member young reason told a german newspaper he expects a financial loss this season like many football clubs by munich is playing behind closed doors revenues from ticket sales and catering a missing former banker said thanks to a strong financial footing by and can cope with the expected losses but want other clubs were on the brink of bankruptcy.
if you count. how will climate change affect us and our children i like the. dot com slash water. this is deja news coming up today. devolved that's challenging india's government. thousands of farmers are demanding a repeal of new agricultural laws that have the backing of the. they see the legislations in their interests the government says they are how does this deadlock end and after the tough year the people of one heart are ready to get out and seize the day one coffee keeps their spirits afloat with a fast time monster braced by chairman.