Stuck in a debt trap malaysia tries to renegotiating a better deal for a pricey rail project with china. Lets do business hes ok has finally reached the man at the top martin. Is on his way to court his company manipulated diesel emissions tests on millions of vehicles around the world it got around environmental regulations cheating motorists into thinking they were buying greener cars the Public Prosecutors Office in the germans had found five is charged into court and for other executives with fraud the scandal blew up in september twenty fifth scene a few days later into corn resigned has always denied any personal involvement in
the affair which has cost the comic a billions of euros in fines. To frankfurt for a financial correspondent. Is this the moment that the critics have been waiting for. Oh yes been absolutely it is this is a great day for many people here who are part of this whole Deal Gate Scandal in one way or another if you think about it for many it was really personal for customers for example who felt betrayed by folks who are going to course but also its been heavy on investors who lost billions and billions of dollars a year as here in their investments and for many people ben it was almost painful to watch over the three last years how Martin Venter corn as c. E. O. Folks talking at the time always seems to get away there was never an indictment on him personally nothing ever and everybody knew all kind of figured he had to know something Martin Venter called it will have to understand is
a man that is known as an engineer at heart a some people said he knows every screw of every car that the Company Built so it was just not plausible that Mark Inventor Corn would not know what was going on with the Emission Cheating Scandal whether he was the head of it and came up with it or whether he allowed it is unclear but he definitely knew something and i guess the story has finally caught up with him now ok well thats going to be up to the courts to find out but even to court had previously denied any personal involvement what do you reckon its going to happen to him. What depends of course benazir said what can be proven because it is kind of pointless to discuss whether he knew anything or not as long as you cannot prove it but if you think about it its been three years that the scandal broke three years that investigators obviously use the date that they have done several raids on false slack and they have tons of
documents at the time and if after three years they come to the conclusion to now indict Martin Venter corn that must mean something that must mean that they have a case built against the former c. E. O. At the Frankfurt Stock Exchange thank you very much now imagine going into work every day for four months and not getting paid pilots from indias ailing jet a ways of taking to the streets of mumbai calling for a State Lifeline the Airline Firms defaulted on one and a half billion dollars in debt back in december. Since friday jet Airways Staff have been Staging Demonstrations theyre calling for the Indian Government to intervene and they want lenders to find a way to rescue the carrier. You see. Because it was one of the premier. Up facing a lot of difficulties just yet we have families to feel. The feelings of. Loss of this station. On that saturday that was on this. Jet airways is billions of dollars in debt and it now desperately needs another Cash Injection Thousands of flights have been cancelled with little or no notice for passengers the airline doesnt have enough planes jet airways says it has an overall fleet of One Hundred Nineteen aircraft but the number of planes has plummeted to just seven the carrier has been unable to pay aircraft leases on time theyre well below the indian regulators minimum requirement of twenty aircraft for any carrier operating international flights. Airways employees fear any rescue could be too late what we would like to see is the obesity i mean this is to save to save Thirty Thousand jobs the jets the good to see us as easy as the saudis have been if they go for the last say if it wants to have it be fit for the last month jet Airways Staff arent the only ones who fear losing jobs if the airline tumbles
for Prime MinisterNarendra Modi who is running for reelection getting the needed votes may depend on finding a buyer for the Beleaguered Airline in time. Lets talk about that without hyundais following this story for us as its also just how important is fixing this problem for motives for election bid. Well ben on is these are going to have much of an impact on the political fortunes its more about perception or sending the right message. Would not want a Prominent Airline that employs more than Twenty Thousand employees to go bust under his watch i mean he has actually boasted about his Business Credentials all through the past five years and even before that when he was the Chief Minister of a province in india so having said that he wouldnt want that to happen under his watch and thats the reason why were seeing state owned banks coming to the rescue
of a private company its a very move by a state owned bank and a Consortium Led by a consortium of banks led by the State Bank Of India wasnt one of the Biggest Airlines at its time at its height by market share and what went wrong. Well it did not and does feed back then that there would be this sudden rise of low cost budget and once and once they came in Like Airlines like indigo or spice jet jet could it was all this left being the scotch again it did bring down its fares but it continued to operate as a full service cabrio as a result it took up a lot of debt around the billion dollar worth of debts and hence the condition that these find today in also what did not help this cause was a wallet at prices that has actually hurt then dying aviation sector a Fast Growing Edition Sect in india doubted to be the Third Largest aviation
market in the ward in the coming five to ten years so it is way to last out was the fact that it could not get up and it or this kept playing this catch again because it took a long time for it to try catching up it never did. And now its in financial trouble and youve got all of these pilots who havent even been paid why is it taking so long to fix this problem well i believe the jet taught all this while that it could actually weather the storm as it has done in the past few years it has actually managed to weather the storm but theres also an important factor and that is its found and that is true now and that is was reluctant in the first place to give Give Up Control of jet evies and that actually dissuaded many pretention investors to actually make some investment in jet he did not want to Give Up Control of the. Now he has given up control and hence we have this death bed to restructuring deal and the. Consortium Led Consortium has taken control
hopefully there would be a solution to this but exports a not very optimistic as i say one of time because. The consortium hasnt actually infused given the money that its just promised so far and hence the meeting today that theyre discussing about whether it could actually give a part of the sum it has promised so the weight of the waiting game continues absolutely ashes thank you very much for coming in. Well criticism of chinas global belts and Road Initiative have been warnings about beijing offering countries huge Infrastructure Projects that end up being debt traps a case today with malaysias new Prime Minister revealing the costs of a china backed rail deal were slated beijing is back down slashing the price tag by a third the project is key as it allowed chinese freight to avoid the Malacca Straits which in a tory as for piracy. The railway will connect The Port Of Climbing near kuala
lumpur with the South China Sea and will be a crucial Freight Route between the Malacca Strait and kuantan where china is developing a major port Prime MinisterMahathir Mohamad its pretty signed Fear Original Agreement in Two Thousand And Sixteen tried to end the contract rather than wreck up Sixteen Billion dollars worth of debt to Chinas Exim Bank beijing threatened Contract Terminations Fees of more than Five Billion Dollars essentially leaving mum had no option but to renegotiate now he says the total cost of the project would be reduced to just over Ten Billion Dollars she had between the China CommunicationsConstruction Company and malaysia rail link. Has to put this in the open asian and. Through fifty fifty joint Venture Company with him and
see see see see the work on the project which was suspended last year is expected to resume in may with completion for the end of twenty twenty six. More insight from Andrea Hang Our Asia correspondent in singapore and various so has malaysia now got itself a good deal itll still need to take a loan from a Chinese State bank i believe to fund this line. Exactly its hard to believe but ben this is actually the best way off from elisa to mohammad actually tried to end the entire project but with the Five Billion Dollar nation fee threatened by china this is actually the lesser of two evils how did malaysia let itself fall into this socalled death trap in the first place do you know that. What to begin with a lot of these deals including one with singapore were actually forced to during the former Prime Minister. Term so now what its left with is
a mess to clean up especially in the wake of the one m. T. V. Scandal and a lot of that Mess Cleaning has to do with renegotiating such deals and this is really interesting news the timing of this news is very interesting because this belt Road Initiative has come under so much International Criticism but we see other countries taking a closer look at the small print of their deals with beijing no. Well in my heart theyre taking the lead in millys it very well could happen with the other countries theres been a lot of criticism as you said were all trying to back the specially within the bill and the Initiative Pakistan and india being among them but theyve also been similar complaints in your Neck Of The Woods been in europe where china has forged a shady one sided deals ive read thank you very much of Western Business with you. For. The right to play. Ghanas biggest electronics term cant just go green. With german assistance its interesting. Somehow find me something live. Which puts people on a chair fast. Three thousand and thirteen. Euro. What unites. What divides. Trudgeon force. What binds the continent together. The answers and stories aplenty. Spotlight on people. Focus on girls on t w. Every journey begins with the first step and every language but the first word published in the book. Rico is in germany to learn german and why not with him its simple online on your mobile and free to suffer d w z Learning Course nikos fake german made easy. And Gemini With W at any time cut on any place using names. Yeah i dont like a bit of crap. To sing along to see this to come from soup but. For. Interactive exercises. Everything is online