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tv   Business - News  Deutsche Welle  January 20, 2022 3:45pm-4:00pm CET

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hey, how cargo trains are being regularly looted in los angeles. los is date of your business, our robots in berlin. welcome to the program. but i about on has pledged to bring down turkeys soaring inflation and the pressure from the president, turkey central bank slashed rates in recent months, triggering a currency crisis. a correspondent julia han reports from miss tumble. who are d m n g a has to print new price stickers, milk eggs toilet paper. almost everything he sells in his small shop in istanbul, scotty co district has become more expensive again normally does on it. and you can
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take this pack of pastor, for example, a year ago, i sold it with 3.5 years now it costs more than twice as much. that's not normal and square footage. manufacturers and wholesalers are hiking prices several times a month. and dear man, she has to do the same. sometimes he says, he is barely able to keep up on for another rouge. i've been a shopkeeper for 10 years, but i have never seen anything like this right now. the wholesalers don't make a profit. i'm not making a profit, and the customers offer to run the nobody winds every one is losing a longer shronda all around the world. nations are grappling with rising inflation due to the corona, virus pandemic, entire energy causes. but the price spikes here in turkey have been exacerbated by a dramatic depreciation of the countries currency. the lira, according to official figures, inflation has sought to 36 percent. that's the highest rate in nearly 20 years. yet
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many think that even this i popping figure is an understatement. run it out for i think inflation is higher. everything got at least twice or 3 times as expensive, which with electric charged with us. we know exactly what we are paying at the supermarket. i think it's 50 percent or more. i'll fly number. i've been running around for 2 hours trying to find cheap bread. i think we're seeing 100 percent inflation right now. garbage rubiser on social media to anger about the price explosion is growing. this twitter account with more than 100000 followers, is called inflation diary users, post photos showing changing price tags in grocery stores. i also you to initial law president, reggie of ty, about once economic policies have so far been unsuccessful, was incorrect. nevertheless, he says he is convinced that prices will soon fall, ugly, ugly, not very economist, good m,
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utter by disagrees. she projects that inflation will likely rise further eroding incomes and savings. you started from what is that? towards the end of the 1st quarter, we will see inflation rates of 50 to 60 percent. the real problem is that president ad one thinks he is the chief economist here in the country. and everyone else doesn't know anything that will only change with an election and a new government to embellish missing it in the next elections and turkey aren't officially due until 2023 shop owner for the m n. g does not know what will happen in the mean time, but he knows one thing for sure. the next price hike will definitely come. let's discuss the situation in turkey. further with economists, john felton gay joins us from east ambo, thanks for being with us. on date of your business, can you just explain to us why when inflation is such a big problem in many past the vote at the moment, it is so severe in turkey?
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well, the prime fundamental reason is because of inflation is not being current. the buy management by their buy or, or the monetary policy. so, you know, as long as the underlying effects of disorder, the inflation is not dealt with. it's not reasonable to expect the inflation to go down. and obviously at the, at the quarter of the issue is depreciated lira, as the church economy already dependent largely on fix currencies for, for production. and also dollarization is the increase again to trust in the economy overall is decreasing. got this has an effect, not only price to the pass through of the currency, but also through the increase in producers costs, which in effect impact the price as for the consumer. so this is a downward spiral,
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and as long as these drivers are not dealt with, there's no reason to expect the patient to go down. yeah, i mean the approach you're talking about there is present data on some conventional belief that low interest rates will tackle inflation. why does he have this unconventional idea how to handle the situation? i think there's growth at all costs. this prioritize seems to have been prioritized at the moment and low interest rates, depreciated later that would, you know, provides a competitive edge for turkish exports. is believe, incentivize investment and dr. exports. of ever, you know, this, this aim to provide oxygen for the private sector. in, you know, by lowering tax, lowering interest rates actually have quite the opposite effect. right now the
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official interest rate is very different from what the real sector and lawn rates. so in effect, this whole thing drives up producers manufacturing costs. so it's actually resulting in the opposite direction. so just briefly, if you can, is there any hope without a radical change in approach of inflation actually being tackled in turkey? anything short of a complete policy reversal. i see it's very difficult for you place to go down, as i said, if you don't deal with the drivers and then it's not reasonable to expect the result to change. ok, john, so she k. thank you very much for joining us on business. my pleasure. chuck, honest on now, whether the return of the taliban to power has proven to be an economic catastrophe . un says more than half a 1000000 people have been pushed out of their jobs. and international sanctions
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are squeezing and economy already suffering after decades of war drought. and now con demik. however, there appear to be signs that not all is lost on the taliban government, but on its 1st economic conference in cobble on wednesday, even as the new rulers are shunned by much of the west management in footage supplied by a state television broadcaster a un representative says that some parts of the economy are surprisingly, doing well. exports have also reached the $1000000000.00 mark. for the 1st time ever. payment of salaries to civil servants for 2 months have been made with a recent announcement of further payments in the future. as one of just a few women in the room, leon's called for more inclusion of women in public life. adding the economy can
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only thrive when all parts of society are included. however, most afghan women have seen a huge reduction in their ability to work since the taliban took over in august. in this small tailoring workshop in cobble. so he'll nori is fighting to keep her business afloat. before the taliban took over, she had 80 employees at 3 different textile workshops. they were mostly women. now she only has 30 so missouri coded in the past. we had so much work to do like we had different types of contracts. we could easily pay a salary to our master tailors and other workers, but currently we have no contract. the international labor organization reported on wednesday that employment for women fell by 16 per cent. in the 3rd quarter of 2021, the taliban took over in the middle of that quarter. meanwhile, men in the same period saw 6 per cent,
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less employment. billions of dollars of aid and reserves were cut off from afghanistan when the western backed government felt an economic crisis is gripping the country. and advocates say that it's being disproportionately felt by women. either ma, honey, my monthly income is around $1000.00 afghani or $10.00, and i'm the only person working in my family. money means a lot to me as we can solve lots of our problems with the money. unfortunately, since the taliban came to power, there is virtually no income at all. i did that he joined another many women in fear reprisals from the taliban if they continue to work. but for these employees, the opportunity to make even a little money is too precious to let slip through their fingers. let's take a look at some of the other business stories making news around the world. the promotion of women in leading positions at major european companies rose last year,
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but not fast enough to reach the east target for 2025. a 40 percent female representation at board level currently sits up 35 percent. 37 percent of companies, chief executives of women. instagram is looking into paid subscriptions for influences. the social media company is planning to test with select accounts in the u. s. where funds can pay for access to exclusive and live content. in scrum says it influences need a more reliable revenue stream and adverse plans to out 6000 jobs world wide in order to meet growing demand for new aircraft and green plain technology. the move signals that the european playmaker along with york's airline industry may be recovering from deep cutbacks made during the pandemic now in los angeles, cargo trains carrying packages from retailers like amazon, a being looted on an unprecedented scale. last year alone, damages amounted to an estimated $5000000.00. this year could be even worse. a fee
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of open boxes containing merchandise that has been left behind is causing a dangerous and expensive issue for retailers and rail operators. on tuesday, 17 train cars derailed. whether it was caused by the debris is under investigation . feeds are gaining access to the containers by jumping off bridges onto the moving trains. and removing plastic locks that are easy to break. they're looking for merchandise that can be re sold, like mobile devices, tv sets, tires and coven. 19 testing kits is lawlessness. and honestly, we need to be tougher auto lawn order out here at ellard. goodman, basely across the 50 states. mainly run on it la cuz you know, seen this, i've been with this company for years and i've never seen like this in my entire years. sources say the l. a police department does not respond to reports of a train robbery unless the real operator asks for assistance,
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which they say is rare. thieves who are caught are charged with a misdemeanor or petty crime and are released after paying a nominal fee. union pacific has asked the ella county's office to reconsider its lenient policy for such offences. to combat the crime, the company is also strengthening its surveillance using drones and other detection systems. and just finally, french champagne sales rebounded last year despite many restaurants being closed due to corona's virus restrictions and hit record levels. the commute champagne federation says 322000000 bottles was sold in 2021. and the more people are drinking champagne at home sales were up with in france and abroad. so much in fact that's don't perio a modem chandel. so shortages ah, ah, with
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ah, ah, the italian government just demolished this man's house. father used to be his father built it decades ago when the mafia was profiting off of the home in shortage. and more people here could soon find themselves homeless due to forces beyond their control, the mayor of castle, the printed bay is trying to put a stop to this focus on europe in 30 minutes on d w. ah
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