Years all happening coach of the day. During link to do so from africa and the world. Your link to exceptional stories and discussions can you unload some student news after Going Program tonight from sunny germany from one years of easy down while with safety debbie to close the traffic up join us on facebook at t. W. Africa. At. The turkish president says his country is in an economic war and investors around the world believe him share prices fall. And saving the debt see how new mining regulations could stop its waters from disappearing. And. Time for business on the w m how you know yes welcome to the program we start with the international jitters caused by the instability of the turkish economy and its possible contagion effects on other emerging markets after losing more than twenty percent of its value on friday the turkish currency the lira has recovered slightly but its still moving near all time lows at the same time the government is announcing a plan to stop the freefall but a several issues are hitting the turkish economy simultaneously finding solutions will be a tough call. Is in freefall and while the Turkey Central Bank has announced measures to help banks weather the storm ordinary businesses are already feeling the pinch. Hit the grim i mean trade with my business is interrupted because i sell imported goods. So well update the prices today because the prices we pay were going to increase twenty percent as a result of currency fluctuations. Eventually people will be affected by it. And the Central Banks proposals have done little to quell the markets the euro has hit a one year low against the dollar prompting some experts to one of contagion. That fall has certainly been dramatic it has lost about forty five percent of its value against the dollar since the beginning of the year. And that means it has become extremely expensive for turkish businesses to Service Loans to foreign creditors if the euro tumbles further corporate debt could explode and some foreign banks could lose billions when the Turkish Border was default on loans. This of course doesnt sound that well lets bring in our financial correspondent in Frankfurt Oil that has been following the story for us only so good to see you well european markets opened in the red this morning you told us about it and it seems like its not getting any better. Thats true and when you look at some banking shares its getting worse not all are really losing heavily but if you look at the first five losers in the euro stocks fifty three banks are among those i n G Deutsche Bank and also the n. P. P. And unicredit in milan is also losing heavily and so are all the basic market parameters that you have the docs here in germany is down. In france and u. K. And in switzerland the indices are down and having said that its not quite as much damage as on friday its far from a investors therefore are not panicking but they are worried and the banking shares are Central Banks are central to an economy and its not to be ruled out the banks may get in trouble over their business in turkey at this present time and that depends on how everything is going to develop now we know that the government in turkey wants to tackle the problem the central bank saying they are ready to take all necessary measures why isnt that called investors. Because the central bank is not ready to take all necessary measures thats the estimate thats the opinion thats the evaluation of the people here in the market the only remedy that the people now want to see as one that shows that the central bank is independent of turkeys president everyone and that is a rate hike and not just a rate hike but a major rate hike and i would suppose the verbal ie the support that its not to be the major rate hike or the last one but that there would be more to follow in order to bring down inflation in order to prop up the currency anything less is not going to convince the people here is going to sustain nervousness in the market will keep that story very closely with you thank you very much in frankfurt. But we keep watching that development of that trading session at the Frankfurt Stock Exchange and taking a closer look at the biggest loser so far. Bears and German Chemicals giant buyer have plunged more than ten percent the downward spiral comes after fridays decision by a us court lets remember to order monsanto which buyer recently acquired to pay two hundred eighty nine Million Dollars in damages to a ground keeper Wayne Johnson who suffers from lymphoma claims his cancer could have been caused by his contact with monsantos roundup weed killer the jury agreed ruling that monsanto should have warned by years that the product could cause cancer observers believe thousands more planes could follow a buyer says the courts decision goes against scientific evidence. Now its over two months since the u. S. Imposed twenty five percent tariffs on steel imports so how have european steel makers been ferry we visited a german producer to find out and discovered makers of upmarket steel are successfully passing the price hikes on to customers in the united states. The blocks of steel emerging here have a temperature of a thousand degrees celcius making them pliable for the gigantic presses which give them their final shape the b g h stainless steel works near fi tile in eastern germany processes a quarter of a million tons of steel every year mostly for the oil and Chemical Industries managing director son kevin ten percent of its plants annual act put to the united states. Since this kind of steel is barely produced in the us the tariffs have had little effect on sales but the effect on prices has been significant. We have no alternative but to keep passing on the cost of the twenty five percent of tariff to our customers because our american buyers cant source what they need on their domestic market they have no choice but to absorb the increases. The stainless steel producer is in a relatively comfortable position because its products have little competition but plants making cheap steel for Industries Like construction are much more vulnerable their u. S. Customers can obtain supplies domestically tariff free but german chambers of industry and commerce analyst for a car tire is worried about a more pernicious side effect of trumps tariffs countries like south korea india and china which used to export cheap steel to the u. S. Now need new markets. They wont be able to sell as much the u. S. Now this will lead to a diversionary effect meaning more will make its way to europe thats ok as long as the economys doing well but overall then we look at things we can see some very dark clouds gathering in the skies of the Global Economy. Managing director venter haga is also worried about what could happen if the Global Economy falters a slump in demand could lead to price dumping across the entire european steel markets. Well our way of approaching it is simply to keep our eyes on the costs were busy taking a close look at our production processes here were investing in our smelting technology and our Building Technology to make them more efficient and to remain competitive in any price war in the future as well. But even to hog are also hopes that american businesses will get trump to relent and drop the tariff because in the end guitars make a lot of product over their more expensive leaving us consumers to foot most of the bill. Thats certainly alarming heres another alarming statistic the dead sea is shrinking by one metre every year the main reason is the use of its waters for farming but beginners trees are also a major part of the problem especially mining extracts minerals from the sea as a problem gets worse new regulations though to turn things around. Wellness and Health Tourists have long known the benefits of the mineral rich dead sea but not only the Beauty Industry is flourishing here tel aviv based Israel Chemicals is the Biggest Company extracting minerals from the dead sea they have been doing so for more than six decades under a longstanding mining concession their activities here are a big part of why the sea is drying up. Or elected they have no incentive to reduce the amount of water they pump or even to think about it to think about from where they get the soil to build their dikes all the actions through which they actually destroy the environment are allowed on the the existing concession. The Israeli Government is now planning to return to the mining rights in twenty twenty two years ahead of schedule it would be a one off chance to said new regulations and curb the impact the mining has on the environment. Israel could show leadership here in helping to stabilize the dead sea by putting in requirements that instead of just speak to the exploitation of the dead sea from the Mineral Industry to the sustainable utilize ation of the resources of the dead sea to benefit future generations. The big question now is whether Israel Chemicals will agree to an early read tend the deaths the mining concession as one of their core acids but off the role you cant extract minerals from a sea that isnt very any more. Before we go as you know this has been a very very hot summer here in europe and not also not in europe also in asia the heat wave that has been hitting japan for the last few weeks is now also impacting a true institution of Japanese Culture the famous predawn tuna auction at the worlds biggest fish market fishmongers here have had to keep their cool trucks until the last moment as aging air conditioning are struggling to keep temperatures in the. Market that opened in one thousand nine hundred thirty five to move to a more modern sides in october. Can only hope with a more modern cooling system as well. And thats all for this edition of. You can stay up to date with the business headlines on the dot com we can also watch this and other programs. On behalf of the entire team thank you for joining us to care. Haha i did see decades in the senate its so great. To see the flow of explosives fish oil. Leak the bad getting ready to to. Check the front end its people. And figure out the secret to success. But. Pioneering philosopher and icon. How the anti capitalist became opposed to boy for revolution. And what he and his was mean to us today. Hundredth birthday is special. In sixty minutes on. Earth home to millions of species a home worth saving. Here which is on those are big changes and most start with small steps global one thousand years tell stories of creative people and innovative projects around the world by to use the term the climate used to Green Energy Solutions and reforestation. They create interactive content teaching the next generation about Environmental Protection and were determined to build something here for the next generation low blood dios the multimedia environment series on w. Welcome to a special edition of paula banks bought today show is all about german techno superstars scooter. Will be watching them while the crowds meeting up with frontman h. P. Baxter and finding out the secret of their phenomenal success