China reports its slowest Economic Growth in decades so theres a Trade Dispute with the u. S. To blame for a Slower Growth simply chinas new normal breakdown the latest from beijing. Also on the show the e. U. Takes action against turkey for its gas drilling off the coast of cyprus will tell you what it means and how ankara has responded. And farmers in argentina could benefit from south americas new trade deal with the e. U. Board about other sectors well that depends on the u. S. This is your Business Report im Stephen Beers in berlin thanks for joining us the chinese economy continues to cool new Quarterly Results showing the slowest growth in 27 years so does that mean china is on the ropes in its trade war with the u. S. Well not so fast domestic demand is up and state support appears to be kicking in but china does have its work cut out for it. In the past 3 decades the chinese
economy has undergone an extraordinary transformation developing from an inward looking agrarian based
Im going 1st of all and lets do business whos in charge when it comes to drilling in the Worlds Largest enclosed see the mediterranean ever since trillions of cubic meters of natural gas were found off cyprus a dispute over ownership has been bubbling away between cyprus turkey and greece they all claim drilling rights the spat is worth billions of euros geologists say the deposit could hold as much as 3 and a half trillion cubic meters of fossil fuels a windfall for Energy Industries here in europe the area off the south west coast is especially contentious the European Union says only cyprus has the right to drill there but turkey is also state the claim sending several ships to hunt for gas the e. U. Has responded with sanctions which calls worthless. A warm welcome for turkeys top diplomat hes in North Macedonia on a state visit. But the e. U. s recent decision to slap turkey was sanctions over on
koreas ongoing gas conflict with cyprus cast a long shadow over the meeting and the T
korea s ongoing gas conflict with cyprus cast a long shadow over the meeting and the turkish foreign minister said his government would respond. that we have 3 ships there god willing we will send a 4th ship to the eastern mediterranean as soon as possible. the presence of the turkish ships and what cyprus considers its exclusive waters 1st prompted the cypriot government to raise the alarm with the e.u. last week. on monday e.u. foreign ministers meeting in brussels agreed to cut 145800000 euros in aid to turkey next year. and it s very clear that we stand behind cyprus this makes sense since we never recognize the turkish occupation of northern cyprus is normal for cyprus to want to define its own natural resources or to do conducive to. the e.u. also suspended negotiations over an aviation deal and canceled several. senior
so much thank you meanwhile your member states have agreed to impose penalties against turkey over its gas drilling off the coast of cyprus the european union doesn t recognize the turkish claim to the north of the island but ankara insists its actions are in line with international law. it was the dispatching of this turkish drill ship to what cyprus considers its exclusive waters that prompted the cypriot government to raise the alarm with the e.u. last week. another ship soon followed. on monday e.u. finance ministers meeting in brussels discussed what to do about it. do you. the provocations of turkey are an acceptable to us all and we stand with the cypriots this is going to be and it s very clear that we stand behind cyprus this makes sense since we never recognize the turkish occupation of northern cyprus it s normal for cyprus to want to define its own natural resources or to be conducive to
launch its digital currency libra until it receives regulatory approval a senior executive at the social network plans to testify to u.s. lawmakers that the firm has no intention of directly competing with global currencies financial leaders around the world have expressed skepticism about facebook s plans among them u.s. treasury to treasury secretary steve minutiae one monday said his department had quote serious concerns that libor could be used for money laundering. e.u. member states have agreed to impose penalties against turkey over its gas drilling off the coast of cyprus the european union doesn t recognize the turkish claim to the north of the island but ankara and says that its actions are in line with international law. it was the dispatching of this turkish drill ship to what cyprus considers its exclusive waters that prompted the cypriot government to raise the alarm with the e.u. last week another ship soon followed. on monday e.u.