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tv   Business - News  Deutsche Welle  February 23, 2023 3:45pm-4:01pm CET

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prime minister anwar ibrahim is getting ready to present his budget and a shorter word. we've proved that long and benefit a major trial in the u. k. be hailed as a subset. this is the w business. i'm janelle de milan, welcome. central bankers and finance officials from the world's top 20 economies are gathering in india's tack capital bank larue, global debt troubles, and default risks are headlining the agenda. india plans to ask lenders including the world's largest sovereign credit or china, to take a large hair cut on loans. several countries in the global south have seen their ability to pay down debt compromised by inflation. following the pandemic and the war and ukraine as the host nation, india will be aiming to present itself as the leader of the global self, as a jockeys with china for regional dominance. our correspondent, chariot cartucker,
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joins us now from deli charo sovereign debt. seems to be the key issue, dividing the world's finance ministers at the g 20 this week. can you explain the difference and views? that's why janelle, it is the most important issue. and which is why it is being, it is likely to be deliberate that the g 20 as well even the us has doubled up on the show ahead of the g 20 meeting. and it has given this figure that countries which high in dead distress the account for more than 40 percent of the was poor people. now the problem is that india and several other nations pushing for all kinds of lenders across the world beat sovereign nations and beat a multilateral agencies as well to take a haircut. while the problem is that among the biggest lenders, which is china, china has been pushing that multicultural lenders of financial institutions like the i m f like the world bank. they should take the lead in,
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in taking this hair cut and giving a debt relief to nations. while the list of nations on the brink of default keeps getting larger genetic. so tiny as saying you 1st to the multilateral lenders. but how successful will that 20 be in getting china to at least consider a large haircut on the loans? well that's, that's a $1000000.00 question. a lead countries are looking at right now is going to be very tough. but the list keeps going on, free lunches are gonna an ukraine. they've recently joined this growing list level on in zambia. these countries are already in default, tunisia, pakistan and egypt on the countries that are on the verge of defaulting back is on, is very critical situation. lot of discussion on pakistan, se shirts and discussion or with the i m f as well. and pakistan incidentally also has a, a lot of fir dig, a lot of loans from, from china. china has been pushing really hard. this has been going on for quite some time now. it's not really something new on the global finance table,
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but it remains to be seen what the g 20 meeting here in big lou can achieve on this front. janelle, so dad really is a ticking time bomb. we've heard that before. but finally there's the elephant in the room. charlie india is supposedly trying to avoid the use of the word war in all official statements coming out of this g 20. given that this isn't a gathering of economic policy makers and the war has lighter economic consequences for many of the countries represented there. why is india doing this? well, you know, to was sure that the indian government has not made any statement on this. so we don't really know for sure what the governor be when this is, but yes, it does seem logical given the stand that india has been, india has been consistently taking in the last one year while it has condemned the war. it has not condemn the aggressor, meaning russia. and now there are reports that india as the head of the g 24 this year is also trying to push that
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a brush. i should not face any more sanctions because the sanctions which already exist in your fields, they have disturbed the global economy significantly there for no more sanctions. so this is also in keeping it seems, at least in keeping with india's effort. therefore, india wants to terminology to, you know, focus on words like crisis or challenge and not really wars so as to be able to a b in consistence with the stand that it has taken over the last year. janelle, the problems go beyond language, of course, are corresponding cherry car to care. thank you very much. and having just spoken of the risks of high external debt. there is one country whose finances are under scrutiny. talking about malaysia, of course, malaysia's prime minister and war ibrahim was also the country's finance minister, is presenting a revised budget on friday. he's vowed to tackle malaysia's unsustainable debt levels and the cost of living crisis ah lunch hour in kuala
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lumpur and taxi driver. roger is looking out for cheap, eat his after a meal deal called menu rama. it's an initiative launched by malaysia ministry of domestic trade and cost of living and aims to provide the needy, where the meal for just $5.00 ring good or bad one euro. but finding each res, offering it is tricky, one, listen, bless people. no, no. roger has heard about one place downtown, serving it up, the good, very good. it turns out the menus only available from 3 p. m. here. he says the program appeals to those tightening their puffs strings, like many people in malaysia, low income bracket. roger has been struggling to make ends meet. you go live in ri, after brenda, meager, her right, holy with i, that blood that don't run up, people with the menu rama isn't subsidized by the government. it lies on the trees
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to participate. voluntarily report said, there are more than $12000.00 taken part, country wide fostered atlas burger king is among them. hendrick young as manager of the restaurant, roger went to he says, the business doesn't profit from it. if you do that, we will do it for at least 3 months after that we must look at it again. we'll see if we have the budget to continue us. let me correct. have questioned whether menu rama is sustainable in the long run. regardless, many economists agree more robust measures are needed to tackle inflationary pressures as the country's leader and what abraham repairs and veil is made and budget. many people are closely watching how he'll suit the situ. the militia, also grappling with a huge fiscal deficit ali this month, the promise to reveal the debt and liabilities to that one and a half a trillion ring gets around $320000000000.00 euros accountant. more than 80 percent of the country's gross domestic product. at the same time consumption subsidies
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a forecast to reach a record, 80000000000 ring good, or bad, 17000000000 euros in 2022. the government says it wants to narrow that expenditure and make it more targeted towards low income groups. but balancing the need to rein and debts while maintaining concessions will be a challenge for malaysia, new unity governments as much at stake in terms of fir, sentimental, or on the ground. right. and what people are looking to the government to, to provide, i think the, it's quite heightened right now with struggles with cost of living and just after an election as well. i think, to sustain optimism that follows on, on elections. and was government is made up of a tenuous correlation of traditional rivals falling and inconclusive election in november. malaysians like roger r, hopefully the administration can reverse what they see is mismanagement of the economy by the previous government. but it will take more than just cheap. pete's to stay in power now to some of the other global business stories making news.
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german software giant sr p co founder ha, so flattened or will leave the tech firm after more than 5 decades. by 2024, the billionaire will step down as chairman of the supervisory board, a position he's held for 20 years. platinum is set to be replaced by indian american unit rent, former c e o of deloitte french lender, b n. p. perry bar is being sued in france over fossil fuel financing. 3 angie owes including oxfam and friends of the earth, want the eas, biggest bank to stop investing in fossil fuels. the case is based on a 2017 french law. several organizations and even the government are facing similar legal attacks in france. one crucial ingredient for electric vehicle batteries is lithium, and mexico is hoping to be a major supplier of the mineral. mexico's president obama door has signed a decree,
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a national lising, a lithium reserve found in the north of the country. it's a deal bound to interest electric car maker test lock, which has its eyes on building a factory there. john mexican, president, andreas manuel lopez over a door is hoping his country will become more formidable force in the electric battery market. he signed a decree, nationalizing lithium reserves found in the northwest state of sonora, on the us border. a move he says, will prevent the resource from being exploited by foreigners, particularly russia, china and the united states to moreland issue the decision has already been made. the law has been passed and the legislature and the lithium belongs to the nation. bill tesla has expressed interest in building a plant in another northern region, while president abra door welcomes the electric car makers presence in the country . he's concerned the north might not have enough water to support a factory. he's touted the south an area where he's trying to draw more investment,
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and we're 70 percent of mexico's water comes from president obama door and tesla c . e o e law. musk are expected to discuss the issue directly. i know you how to written. now for this next story, you might want to make sure your boss is listening in the u. k. the world's largest trial scheme, allowing workers to take an extra day off each week is being held as a success. most of the companies involved say the benefits have made themselves clear, and they want to make the 4 day work week. a standard fay johnson smith brings homemade cupcakes into the office. she likes to bake in her spare time, which she now has more of her employer is one of 60 companies in the u. k. that took part in a 4 day work week trial. i found that just having one extra day per week kiss me so much more time to recover work a great after having such an emotionally draining
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a demanding job, it would take a lot for me to look for a job elsewhere. now, staff have reported better overall well being, but the payoff has been big for bosses to when expectancy with the so much was the, the drop in absenteeism as much the increase in happiness as reduction and tiredness. because i think we were most concerned about was this idea that would people become more tired or more stressed because they were trying to compress their hours. and that's not been the case. business is reported that revenue increased 1.4 percent on average, and 9 out of 10 companies in the pilot say they will keep the fort a week. some experts predict that not adapting to the emerging model may put firms at a disadvantage to your organizations. that was finding jobs as old, like we just aren't going to get the best times buying. so once we get to that tipping point, it's not a question of whether the company's want to be in the,
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this new movement. it's question, if they're not in this movement, they're just not going to get the employees, they need convincing other companies to go. the new route may end up being the toughest part of the job. don't think the news gets a 4 day work week. that's our shelf for more checkout d, w dot com slash business, and the de de leon use youtube channel. thank you so much for watching with
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oh, there's is the story of many ukrainians before rushes invasion, marta and siri had trained as volunteers for emergencies. since the beginning of the war, they have been in combat. even fighting directly at the front focus on europe. in 30 minutes on d w a then jim, in which the deputy at any time in place using
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video, nevada. we have i don't feel like if it is someone's to sing along to download. is that come from super lindsey? did you do a varied courses, put it into active exercises, are available at d, w dot com slash don't plan on facebook all in the land gym and for free with the w will you become a criminal? mm franklin, i already know who's with hackers, paralyzed between your societies, computers. that's where you and governments that go crazy for your data. we explain how these technologies work, how they can go in for,
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and that's how they can also go terribly. watch it now on youtube. oh, this is dw news live from berlin, no less up in the fighting as the one year anniversary of the war in ukraine approaches. we report from the frontline city of hess on liberated by ukrainian forces, but living in fear of a fresh russian on stuart. also coming up on the program. tragic stories from turkey after the earthquakes.


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