From my group youre barking further. For a job or. A movie. Over. There because it is. Starting journey. A flood of new putin has kind words for the russian economy the numbers are less kind growth remains weak incomes are shrinking and production is tilted toward oil and gas will take a look. Also on the show rising rents have sparked anger in european cities from force a lot of super led now real estate markets are bracing for the backlog. And well look at an extreme case of a rental market gone bad. Were all the collective buildings are at risk of collapse. Welcome to business asia im Stephen Beers in berlin thanks for joining us could russia finish construction on the controversial north stream to gas pipeline president Vladimir Putin told russian businessmen that the country has a pipe playing vessel to complete the project connecting russia and germany the comments reported by russian newspaper commerce came days after switch the swiss dutch firm all season spending pipe play following new u. S. Sanctions against the project putin said he expects a delay of several months which could push the start of operations into 2021. Now putin praised the russian economy at that same meeting with Industry Leaders while pushing for more growth recent years have shown however that thats a tall order and russia growth remains weak sanctions still hurt and the economy is ever more dependent on oil and gas. Many russians have problems making ends meet and more than half are heavily in debt since the start of this year their value added tax is gone up by 2 Percentage Points and most now have to work 5 years longer before they can retire this reform of the Pension System has led to particular dissatisfaction with a lot of. This is why he is careful to present the countrys Economic Development in the best light. So i knew it was a natural Economic Situation is stable inflation is level and the Unemployment Rate is low the National Currency is also stable. Putin gathered Industry Leaders for a meeting in moscow he asked them why the economy wasnt doing better. He maintains positive growing dynamic but of course were not satisfied with the growth rate. Was through him. Economic growth is around one percent or just a little higher this is mainly due to the price of oil which collapsed in 2014 and took the Ruble Exchange Rate with it the russian economy continues to be dangerously dependent on oil and gas. At a reception following putins speech the mood was somber everyone had been hoping for a state Investment Program which would give a boost to the private sector however private companies without close contacts in the corridors of power have little opportunity and russias economy. It was one of the biggest stories in europe this past year rising rents investors desperate for yield in europe 0 interest markets ploughed their money instead into urban real estate but property markets in big cities have tightened pushing up rents and threatening to push out middle class families the counter reaction has been intense berlin is now preparing to freeze rents for 5 years beginning in january and some are calling for even tougher measures. Tenants in berlin have been fighting for their rights last summer they led an initiative calling for the nationalization of some of the property owned by Real Estate Companies they wanted city to hold a referendum on the issue one 1st began with the Team Referendum question is based on article 15 of the german basic low it states the property may be transferred to Public Ownership for the purpose of socialization the article has never been invoked i know. The german capital is witnessing a battle over Affordable Housing between tenants real estate owners and politicians theres an acute shortage of living space berlin has a deficit of tens of thousands of apartments. There are just arent enough affordable apartments for rent owned by Public Housing associations like this one a 54 square meter apartment for 500. 00 euros a month in the heart of the city a place like this will always attract a lot of interest theres like poured in 50 people sometimes you have more than 100 it really depends on like the location price everything contribution to finding a balance is the motivation underlying this construction project at alexanderplatz in berlin the former east german house of statistics is a prime piece of real estate with a steady 50000000. 00 euros its undergoing an extensive renovation when its ready it wont be a Shopping Mall or a luxury hotel it will contain 300. 00 affordable apartments Small Businesses as well as facilities like Childcare Centers and studios for artists to market as a. Property market is joined by profit but in this case that just doesnt work what we need in berlin is Affordable Housing but whats being billed as expensive if it goes on like this we wont have any culturally diverse spaces and not the necessary social infrastructure we need to put a stop to the situation which is spiraling out of control on these issues it was in the dock. Political efforts must be made to ensure the market remains fair in berlin. And now to india for another side of the red cow question perhaps an extreme i have seen a string of building collapses the most recent was last month when a 4 Story Building caved in killing more than a dozen people despite the repeat tragedies many citizens continue to live an old dilapidated buildings at risk of collapse and landlords have little incentive to make repairs or india correspondent sonia found a car sent us this report. Young has lived here for much of her life this building a century old it was built just as world war one ended in the one dream that yankee shares with the family cracks run through the wall the speeding and bamboo sticks prop up the ceiling the monsoon rains make the structure riskier each year young pieces shes repeatedly complained to the landlord with little success. He did not believe that i live in fear that the building will collapse my children are away at work all day so at least thats safe my husband the nice stay at home we could be killed but the way i see it were old weve lived on. Leaving the place isnt an option for young whose family owns a modest living tenants like b. Just 10. 00 a month and some even less. Thats due to a colonial era law that limits reigns for Old Buildings like this one but that also means owners get little money to invest in group is leaving the structures to rot many parts of mumbai in. A home to old rickety Properties Data shows that are more than 14000 buildings in the city that had risk of collapse due to a lack of maintainance and government apathy. Only of the c. E. O. Of 4 storey building collapsed at the spot killing more than a dozen people and injuring many more disasters of this kind on to uncommon in the city. One buys chronic housing was also linked to its dense population and scarcity of land the city surrounded by water on 3 sites and has no space to grow. More than 40 percent of its 18000000 residents live in slums and shantytowns experts say at the heart of the problem of the citys sky high real estate values and a powerful builders lobby. Has sort of in the last 20 years for the situation collapse of building it will mean that there will be an option off a developing. Private developer and also because then they have much on most of these buildings out in the island city and. The prices of. Cities for young home is a much loved but dangerous place option would be to get out and lead a much broader life in a far flung suburb either way its not much of a choice. Is there any push for change after these recent building collapses. Must see one every time these buildings collapse of the scottish unload on mumbais troubled realistic market a spot of at the local civic body bosses blame do with the these housing authorities and vice versa but at the end of the day be have bought the supplants who are unwilling that i tend to appease the bad back to 1965 and in some cases as far back as the 1940 s. And they dont want to move the landlords are barely getting any rent so they dont want to invest in improving the structure all of these buildings and we also have developers who are incentivized by the government but they have to jump through so many bureaucratic new pools that they also pull back they dont see their profits maximizing in this situation needing to this into the situation continuing so where does the liability live for improving these buildings with the landowners and landlords is that with the government itself how do people generally see it but on many of these buildings which over 80 years old the liability actually lies with the maharashtra or the states housing and Development Authority because these are what of course sest building some of the fence a contribution funds the state will match these funds and these funds go indoors of baz and the habitation however these funds are also still not enough the buildings are still grossly under the fed and the developer was also do not want to invest as much as you think of this nigga this of what of the 7 state of the buildings to persist and people again dont want to leave because the grants are so low and mumbai rents every bit as extremely high the Bigger Picture here seems to be the lack of Affordable Housing in the city it looks like mumbai real estate has struggled lately does that create any more space for such Affordable Housing. Well the challenge have become steven that these people have been offered housing but this is usually in fall from suburbs but they have lived in these locations for generations the lights that jobs the children not all of these locations and transport in mumbai is not easy either so even if they could afford housing which is they far away if it is not convenient for them the other challenge is that some of these people agreed to move to transit houses they would door they would be reassigned housing in a year or 2 but they have been living there for 30 or 40 years making trust in their target because they be hard to find among the people because they ping that they will get stuck in transit houses and do not want to cooperate a lot of the residents have to agree to move forward in the development to happen and this is why thousands of building are just stuck in different stages of the good practical office or i saw no easy answers there when it comes to this issue of building collapses in mumbai due to be correspondent i mean should gys while theyre with us in delhi thank you. Is europes loss australias gain thats at least what Tourism Australia is hoping with a new 15000000. 00 campaign which pokes a little fun at braggs it. Well within a song performed by ill show his biggest pop star column a note that aims to learn postgrads the brits down under and perhaps away from europe the ad was aired ahead of Queen Elizabeths yearly christmas message in the u. K. And while it appeared to go down well some people in social media pointed to australias ongoing bushfires as one reason to avoid visiting the country. Thats it for me thank you for. 8 years off to the overthrow of the gadhafi regime libya has descended into almost continual conflict between its rival senses of power my guest this week here in paris is ahmed my cheek deputy Prime Minister of the Us Backed Government of National Accord closely allied to groups of armed militias which are being credited to serious human rights abuses conflicts are. Next on d w. What secrets lie behind small. Discover new adventures in 360 degree. And explore fascinating World Heritage sites. P. W. World heritage 368 get kidnapped now. This is far from for mention we have an austin even if you know you saying the u. S. Is badly in full yes i think the president or are you worth saving the government are you really worth it. 8 years after the overthrow of the gadhafi regime libya has descended into almost continual conflict between its rival centers of power my guess this week here in paris is ahmed might
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