Business

Israel's GDP fell by 19.4 percent in the last quarter of 2023, according to preliminary figures published by the country's Central Bureau of Statistics on Monday. It's the biggest contraction the economy has seen since the early days of the Covid pandemic, and can be attributed to the impact of the war on Gaza following the October 7 Hamas attacks. In this edition of Business Daily, we take a look at what that conflict means for Israel's workforce and construction sector, as well as what to expect in 2024.

After Indonesia held presidential elections this Wednesday, we take a look at one of the signature economic policies of outgoing president Joko Widodo: his bid to build up the country's nickel refining capacity and boost the export sector of Southeast Asia's largest economy. We look at what the Indonesian economy has gained from banning the export of raw nickel ore, and whether or not those gains have trickled down to the population.

With high inflation, massive foreign debt and widespread poverty, Pakistan's economy has been in crisis for years, presenting major challenges for its next government. We take a closer look. Also, China battles deflation and a stock market meltdown. Plus, Disney looks to boost revenues with a sports streaming platform, video games and Taylor Swift.

The preliminary results of a National Transportation Safety Board investigation into how a door flew off an Alaskan Airlines Boeing 737 MAX 9 in January have revealed that four key bolts appeared to be missing. The new setback for the Boeing 737, following fatal crashes in 2018 and 2019, has raised concerns over the effectiveness of the US aviation industry regulator, the FAA. Also in this edition: Argentina's newly elected president, Javier Milei, sees his reform plans challenged in parliament.

The 2024 Grammy Awards were a night of glamour and celebration. But for the music business in general, times are getting tougher; we take a closer look. Also in this edition: Facebook faces an ageing user base as the social media giant marks its 20-year anniversary, and Boeing finds new production problems on the 737 MAX.

As farmers across Europe continue their protests against rising costs and cheap food imports, we look at one trade deal that's causing particular concern. The planned agreement between the European Union and the Mercosur trade bloc in South America could lead to billions in savings on export tariffs, but would also open up the EU market to goods that protesting farmers say don't meet strict EU standards. Also in this edition, we look at Italy's plan to bring in foreign workers to help fill labour shortages.

Debt-laden developer Evergrande has been ordered by a Hong Kong court to liquidate its assets after a failed restructuring bid, but the ruling is unlikely to have much impact in mainland China. Also in this edition: Beijing ramps up efforts to prop up battered Chinese stock markets, and the Africa Cup of Nations football tournament helps bring economic growth to Ivory Coast.

A judge in Brazil has ordered mining giants BHP and Vale, plus their joint iron ore venture project Samarco, to pay the equivalent of €8.9 billion in compensation over the collapse of a dam in 2015. The disaster killed 19 people and severely polluted the Rio Doce river. The ruling comes on the five-year anniversary of the collapse of another Vale-owned dam in the same Brazilian state, which killed 270 people. We take a closer look.

The Hinkley Point nuclear power plant project in the United Kingdom has seen its fifth budget increase since 2016, when the UK and French utility giant EDF first signed a contract. It will now cost a total of £31-35 billion (€36-40 billion) and should begin production in 2029 at the earliest. Hinkley Point is a flagship project in London's bid to increase its energy security. Also in this edition, French farmers protest against cumbersome environmental regulations and Netflix sees a boom in subscribers.

The World Economic Forum has wrapped up after a week of intense discussions, networking and consensus-building in the snowy Swiss mountain resort of Davos. Among some of the smaller nations taking part was Mongolia, which is trying to use the event to promote itself on the global stage as it tries to diversify its economy and bolster relations outside of its traditional allies, Russia and China. FRANCE 24's Yuka Royer spoke to the country's culture minister on the sidelines of the meetings.