Yes bank has a high level of bad loans and not enough capital to cover the losses putting the bank at risk of default thats why the central bank decided to place yes bank under a moratorium and is now working on a merger or takeover naturally a market based. Solutions of the problem a bank lead investor of led resolution of the problem is already refundable we have said that in Office Statement yesterday also so naturally you have to give time to the bank to the management to you know take whatever steps they need to take. Because of the uncertain future shares of yes bank plunged more than 70 percent during trading hours wiping out around 1000000000. 00 euros of market value in a single day its the biggest fall ever of an indian blue chip stocks. Yes or no bank lets go to both had been kind of run a krishnan who joins us from delhi from the new site scroll rohan could you tell us whether or not depositors should be panicking right now. Broadly speaking to both of our fine yesterday itself there is a bank of india which is the banking regulator showed everyone that everything would be taken care of nobody would lose money from if they were councillors and today that of the bank and the finance minister of whats going about it reconstruction plan a draft that would see essentially the state back of the debt coming in rescuing the bank and ensuring that anyone who has money in it as a deposit or is safe investors on the other hand will have to move money which will but anyone who has an account holder their money is safe except for the limits that are there for the next month what about the bank whats going to happen to it. So the reconstruction plan that was put forward today sees the shares diluted quite a bit sees an Investor Bank presumably the state bank of india bank which would large amounts of cash putting money in and diluting the shares of the existing all of those as well as money potentially coming in from other investors so you would see this attempt to recapitalize the banks and ensure that its liabilities dont take it down. But you have this would be a painful process but because the government of india essentially 2 of the state bank of india is coming in because of the good and you know rest a little easier then a bit of a hard time with the next row and thank you very much for joining us there from delhi on the future of indias yes bank. Europes multinational corporations are in Crisis Management as the corona virus continues to creep into almost every corner of the continent Many Companies rely on parts and brought materials produced in china by suppliers or their own subsidiaries but supply has dried up. Management consultant fang fang is currently pursuing Crisis Management she and her team advise 60 german firms that do business in china theyre in demand right now because covert 19 is causing havoc fanfan is on her way to a client in a small town in northern germany the shelter group. The Automotive Parts supplier had to halt production at its facility near beijing for 2 weeks. Things are starting up again but with precautions in place. Are. We are back up to 50 or 70 percent capacity so far we dont yet know when well reach 100 percent because we cant get the staff back into the factory yet. The drop in revenue and therefore the economic hit amounts to several 1000000 euros. Or. International supply chains are collapsing or at risk you cant make a car if the gearbox isnt available. 8 plants in europe have to offset the production halt in china but not for much longer says the optimist fanfan. C. E. O. Is not convinced however. This is. From some president i cant recall anything like it on our plan. It in my view weve got through this and i hope we do deal with it sensibly i think well have to think about what needs to change in the future. For example will there be calls to could tail International Business travel fanfan usually travels back and forth between germany and china spending 2 weeks at a time in each country she has a team of certainty in china but for now she cant go and see her colleagues or her family so she communicates with them online from hamburg. Fine fine believes the tough measures imposed by the government in china have been decisive. Germany and europe theres so much freedom and people dont wear face masks. Its a different mentality and a different way of life. And thats why the numbers here are rising day by day. Now and theyre the virus is threatening not just the health of individuals but also the house of the global economy. German manufacturing orders were up in january but the Statistics Office star also reveals that china was germanys most important trading partner for the 4th time in a robust year a faltering chinese economy will hit germany hard. It was the strongest month on month increase for manufacturing orders since mid 2014 and more than 4 times the predicted 1. 3 percent rise the german Statistics Office said the spike was mainly due to large orders particularly of air and space craft and machinery and equipment the strong result stands out against generally gloomy Economic Data for europes largest economy growth ground to a halt in the 4th quarter of 2019 and the coronavirus pandemic is expected to take its toll on germanys export focused economy. For the 4th year in a road to status ranked china as germanys most important trading partner the 2 countries traded goods worth 206000000000 euros last year ordinarily that would have been great news but beijings economy is beginning to slow down a symptom of the coronavirus epidemic beijings draconian quarantine measures to force chinese industry to scale back analysts using pollution levels as a gauge of industrial activity major cities in china are well known for being choked by smog but necessary the light images show. Aleutian levels have shrunk dramatically since the beginning of the year that illustrates a substantial decline in industrial activity in the 1st quarter. That will eventually have a knock on effect on german exports but also on the supply of chinese made components on which some german manufacturers reline. Talking about supplies lets go live to will be bought sell financial correspondent in frankfurt will lead the e. U. Has been holding emergency talks they worried about supplies particularly medical supplies and of talking about boosting local production over imports how realistic is that. You have to look at the really really long picture long and long run if youre going to realize that in any way maybe maybe im too german but i just see a host of regulatory problems procedural Financial Issues you know if it were easy for drug makers to make these drugs for european customers of patients within europe they would be doing that right now but theyre not doing it to suspect that it has a lot to do with profits perhaps also Raw Material Availability and you know getting to grips on this with the 19 e. U. With the 27 e. U. Health ministers and then dealing with all the companies i dont think its going to come anytime soon seeing what impact corona has seen what impact Something Else like this can have i think its worth looking into though only on the financial front the fed has cut rates congress is approved an emergency spending bill but so far a lot of talk little action in europe. Thats right people are waiting and seeing again you have one government in the United States being able to say this is what were doing the fed says we have the United States this is what were doing we know the situation the e. C. B. Deals with 1000. 00 countries the e. U. As a whole with 27. 00 countries its a lot more complicated and another difference the fed still had ammunition that still has an initial now the e. C. B. Its with its rates is already at 0 it would have to go into the negative to do Something Like the fed or increase the costs for banks the positive money at the e. C. B. Believe as far as the Frankfurt Stock Exchange stay safe. There are reports that russia will not back an opec plant you cut Oil Production by one and a half 1000000 barrels a day opec plus members have been meeting in vienna looking for ways to stabilize prices due to the coronavirus crude prices a drop of water since the disease appeared officials have slashed full cost of grant for demand growth is here and openness has plunged in the years. And south koreas Prime Minister has described new travel restrictions from japan as excessive is called on the government to drop the new rules to ban is imposing a 14 day quarantine on all visitors from south korea and china because of the viral outbreak south koreas foreign minister has announced it will halt visa wave is all japanese with on. That brings you up to date on all the Business News its watching d. D. L. We will see you again very soon and nice doing business with you. Come up. With. Coal india. Where is the toilet the daily struggle for him because women. Entrepreneurs locusts and all car has turned the whole city buses into mobile sanitation facilities from what. They all have the same rights the ice is still a good story lives is where life is now a little easier. To keep up. To 30 minutes on d w. Im not laughing out of the jam i just sometimes i am but i sound off in winter that means the german thinks deep into the german culture of looking at the stereotypes aquatics but interesting to see the country that i now not blame. Here. Needed to be taken as grandmother there to me its all that they know im rachel join me for me to devon from d. W. Post. Place they were forced into a nameless mass. Their bodies years who knows what. The history of the slave trade is africas history. To suffering for our country profit plummeted and entire continent into chaos and violence going to this is the journey back into the history of slavery and i think it will truly be making progress when we all accept the history of slavery as all of our history. Our documentary series slavery routes starts march 9th on t. W. Play. This is due to be a news line for lent some respite for civilians trapped in syria its the profits russia and turkey a breach was ceasefire a tense calm is a report in the region for almost a 1000000 people have been displaced as a result of fighting between government and rebel forces. Also coming out thousands of migrants and refugees stranded between turkey and tear gas their hopes of tossing to europe are dashed as greek Border Guards make a fresh show of force well get the latest from our ports on the ground up
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