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Business Arena 15.07

In this episode of Business Arena, Italian economic woes and Draghi’s fate as the country’s PM are scrutinised. The host, David Kennedy, also zooms in on Ukrainian businesses’ move to safer ground.

Two and a half trillion dollars of debt and the prospects of rising interest rates in the eurozone – that’s the position that Itlay finds itself in as Prime Minister Mario Draghi proffers his resignation after failing to agree the passing of cost of living assistance measures with his coalition partners.

To discuss the prospects for Italy’s economy TVP World’s Business Arena was joined by former Undersecretary of State for Development, now a professor at the University of Nottingham, Michele Geraci.

Ukraine moving companies away from combat zones

Keeping production high and jobs alive is the main impetus behind a Ukrainian initiative to move companies away from combat zones. After three months of a scheme to assist companies caught in danger zones, the body responsible gave an update on its progress. Bearing in mind the Ukrainian economy lost some 30 percent of its jobs, the World Bank calculated back in the spring, the initiative is very much needed.

China slowdown pushes copper prices down

Copper prices are down on commodity markets due to fears of a slowdown in China.

In Poland, the share price of copper giant KGHM is now down 35 percent in the last six months despite making 400 mln profit in the first quarter.

Orlen producing more, Lithuanian refinery closed for refitting

Also in Poland, the big changes were reported in refining output – Orlen producing more at its refinery in Płock, while its Lithuanian refinery is closed for refitting. Brown coal mining for power generation is also up as is car production.

Aid for Ukraine

“The international aid intensified at the end of June. Thanks to this, Ukraine received about USD 4.4 billion in June and in the first days of July. In total, since the beginning of the war, the country has received almost USD 13 billion in aid,” Deputy Governor of National Bank of Ukraine Serhiy Nikolaychuk said.

The Gates Foundation receives billions

Bill and Melinda Gates Foundation received USD 20 billion of funds from the billionaire’s fortune. Bill Gates doesn’t apologise for being rich and the main aims of the foundation are investments in scientific and technological aid projects

It’s camelpower for Aston Martin

British Sports car manufacturer Aston Martin, the preferred ride of master spy James Bond and Mr Bean star Rowan Atkinson has a new shareholder – Saudi Arabia.

Yellen calls spade a spade in Bali

The G20 talks got off to a flying start in Bali on Friday with the 78th United States Secretary of the Treasury Janet Yellen telling the Russian delegation that their country’s attack on Ukraine is responsible for all of the world’s economic ills.

Estonian ban on weapon sales to Russians and Belarusians

Estonia has banned the sale of weapons to Russian and Belarusian citizens.

Amazon to change its praxis

US retail giant Amazon is to change its practice of giving preference to its own products and those companies who use its distribution system in search engines.

If you are interested in what Twitter has been abuzz with in terms of business, click the video above.


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