Smudges reliance of the whats your story. Ready i mean, wasnt, i was women, especially victims of violence in take part and send us your story. We are trying always to understand this new culture. So you are not a visitor, not the guests. You want to become a citizen in phil migrants, your platform for reliable information ah, ah, as russia invasion of ukraine reaches the 6 month mark, we look at whether russias economy has paid enough of a price for its aggression. Also on the show, a 30000000000 dollar deal to help chip maker ins. Hell compete with its asian rivals. We get more from our correspondent on wall street and taking your commute to the clouds will show you a prototype of a flying taxi, whos makers say, is nearly ready for take off. This is the w business. Im janelle dumas unwelcome as russias invasion of ukraine passes the half year mark. The damage wrought by moscow has been incalculable. Western powers had hoped the effect those sanctions would push russia to change its course. 6 months later, its worth asking if the kremlin has been hit hard enough. The main life preserver for the russian economy has been energy prices. After februarys invasion of ukraine, the cost of fossil fuels spiked and that cushioned russia against the intended impact of western sanctions. But even though high prices have helped keep russian coffers fuller than expected, its economy is forecasted to contract by more than 4 percent this year. The russian government is trying to shield average citizens from the impact of the sanctions. For example, the state has raised pensions and the minimum wage by 10 percent major employers like number one lender spare bank, and the gas giant gas prom raised salaries in july and emergency capital controls helped strengthen the ruble by more than 25 percent this year. While russia has been able to stave off economic collapse so far, inflation could weigh heavily on the economy and Consumer Sentiment official figures, a show. The cost of consumer goods is up almost 11 percent so far in 2022. As winter approaches in the northern hemisphere, the Current Energy crisis could lead to more tit for tat responses between russia and europe. For a more im joined by maxim narrowness, professor finance at the i e. Business school in madrid. Maxine lets pick off where that report left off. How does an ever escalating economic war between russia in europe look like . Ah, National Economy is much worse than 6 months ago, thumped in the cities already, you know, but it, but shape like called to more defenders see the declining production, warsaw, 10 times. Airline industry is basically that because all International Flights are stopped and what is no spare parts for airlines and international toys, adams, and how can i help them all industries, but there are from the economy of us not damaged enough for poaching to stop the war. And one of the main reason i said tough put in continuous to receive for future all them gusted avenue, especially from the unit for the union. So you want to have the russian economy, its much worse than 6 months ago. Its still not so bad in terms so far as the beauty of dependence of or but surely a lot of this damage will be lasting and will be very difficult to come back from. Wouldnt you agree . Ah yes, until porton and his resume was in power school be impossible, hard to grow or he went to restore as a barrier february estate of the economy. Because russia voss kept off from the international trade. And to lot of factories sat heavily dependent on the initial plate, like pretty much in every campaigns ago, like germany, also very much dependent on international take thousands. The difference is the rush of the people that he doesnt have almost any on technology on its own. So its very dependent on the plate. But again, the issue is that it was carved, but its not enough. So in, because a lot of people compare russian economy, enter fashion, society of is the west. If ones a west, you have inflation of 10 percent and ah, gas price and land is your price by 30. 00 or 40 percent. People who really scare than people demand from politicians loosen as a society is not an thirsty, its like it doesnt leaf in their democratic world. So putting fast, much more power to press Russia Society by declining in the finance light, live by 1020 percent result of that. Hes gulf may chair or major out is eastern sol. This is a different so i think people in the west all lower estimate, it was there. And threshold went i, russian, people start to revolt against that. I put in the fair a lot of this was unpredictable. Thank you, maxine or enough professor of finance at the i e Business School in madrid. Thank you for your insights today. Intel corporation and Canadas Brookfield Asset Management have agreed to jointly fund up to 30000000000. 00 for the us ship makers, our resume factories that will help intel bring more of its chip production on shore. Brookfield will invest up to half of the total to take a 49 percent stake in the project, but intel will retain, offering control of its 2 factories about make advance chips in arizona. Turning now to our correspondent teddy austro and new york study. The aim here is to retake market share, especially from the asian ship manufacturers. Will this allow intel to do that . Bo, this short answer to now is probably not. Yes, this is quite big for intel, which is angling of course, to be a top manufacturer of some of the most high tech sunday conductor chips, which those spots are taken by many asian manufacturers. Specifically, t s am see anti one and samsung. Now intel, at the same time, is likely going to get a large slice of the pie that pi being a chips bill that was passed in congress. Thats 50000000000. 00 going into domestic manufacturing and research. But were gonna talk about state funding. We have to talk about state funding in asia and places like taiwan in korea, which ive been spending big for years and are going to continue spending big. So it may be hard for intel to catch up so quickly. They probably need many more years as well as many more billions of dollars. So it sounds like intel is still outgunned in this respect, but especially supply chain disruptions have also given in tell a rough time. Are all these big plans at least indicative of a bit of a reversal unfortunate for intel . Well, its pretty unclear right now. Not only for intel, but for the entire industry. Were looking at both chip shortages as well as ship gloves, trip shortages for the auto industry, for example, caused by supply chain disruption. But also were looking at gloves where inventories cant be sold down, and this is hurting manufacturers as well. There appears to be demand falling for items like phones for gaming console for p cs. All this requires trips now, intel certainly got hit by this trend. The day posted earnings recently that were way lower than expected. Really shocking wall street. And now they said that it would cut Capital Spending by billions of dollars. So for the entire sector, it appears that the boats are rocking and its not clear where the wind will blow lots of sailing metaphors from teddy austro. Thank you so much. Escaping the regular gridlock on the road by just flying over it. There are those who believe taxes will soon take to the skies. Among them are people at the german company, lilian which has come up with a prototype. It can carry 6 passengers and the pilot and has a range of more than 200 kilometers. Take a look. This is atlas test center in spain. A very special aircraft is about to take off phoenix to the prototype of the flying taxis of the future that is developed under High Pressure by german company. Lilian. The startup is in competition with 100 other developers worldwide. All of which seek to be one step ahead in the approval process. Yield of lucas go be that a no use. Every flight is a new chapter. Even if we say the test flying is like testing the boundaries also next limiting. And then the next one also has to be ready. Lets take a step back to the gate. Its lifted. Were take lead by 36 electric rotters. Like a june in the air. Liams founder, daniel v gunned, promises that his flying taxis would already be commercially operational in 3 years. One by lit 6 passengers and a range of more than 200 kilometers. Thats how these flying docs is aimed to compete with cars and chains, especially in urban areas, is been into no, im an engineer. I understand the physics behind this aircraft is to you when i stand next to it, ill see it flying and i hear how quiet it is. And the way the whole team built it to operate safely. Even for me, its like a miracle. This looks like so thats when the time another miracle william needs is to achieve the ambitious goal of making more than 5000000000 euros worth of seals in just a few years. Daniel, vigour and has been heavily criticized due to these kinds of promises. Investors ran away from lilian and drawers and the initial Public Offering in the stock market was a disaster. But that hasnt damped v gans ambition on so long twisting and miss you are long term vision is that we want to make regional flights a sustainable light, as well as making them accessible to as many people as possible with the electricity and the electric propulsion technology. Is especially well suited to this purpose because it lowers the cost and both maintenance and the initial purchase, compared to a kerosene powered aircraft i talking to on shuffle. The prototype has successfully completed around 30 dest flights in spin, and its software is still being adjusted. In the beginning, only particularly val declines would be able to travel by this kind of air taxi. But wiegand is not alone. Independent traffic experts say the skys the limit for more electric aircrafts boys to me because a 75000000. 00 super yacht linked to a russian steel 1000000000 her has been auctioned in gibraltar. Its the 1st sale of its kind since the russian invasion of ukraine. The luxury yacht was impounded by Gibraltar Authorities in march after us bank j. P. Morgan said its alleged owner. Dmitri pompeian ski owed a lot of money. His assets were frozen by the u. K. And the e. U after the invasion. Thats our show for march. I count d, w dot com slash business, and the d. W. News you to channel. Thank you so much for watching. Eco africa. Clean drinking water. Hard to come by. Come odyssey in the slums of ne robi, a possible solution vending machine full time. They are designed to give people access to the Precious Resource in an easier and more affordable way. What it would be now with everybody is becoming more africa next on d, w with red alert for a just route. This is a red if occasion were going to have some epic bar over water over the world or is becoming a scarce commodity. Isnt worth dying of thirst. But global struggle for water. In 45 minutes on d, w o, you become a criminal pre climb aol already knows that kind of to take told me about hackers and paralyzing the tire societies. Computers that out sure you and governments that go crazy for your data. We explain how these technologies work, how they can, what was in for, and thats how they can also go terribly. Watch it now on youtube. Ah, with hello welcome to echo africa, i increase the lamps, aint oh, good state nigeria results isnt. Our planets are
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