Money Talks

In Western Europe, millions are enduring record-breaking temperatures that have risen to as high as 43 degrees this week. Northern Italy, the engine of Europe's third-largest economy, is suffering particularly badly. The European nation faces severe drought and climate conditions threaten food production and power generation. Ludovica Brignola reports the story.

#Italy #Drought #PoRiver

The Chinese government is promising more stimulus to prop up the world's second largest economy. In a statement, President Xi Jinping said Beijing will be deploying what he describes as more "forceful measures" that would help the nation beat current private sector forecasts. President Xi did not give details about the new stimulus measures, but said the government would stick to its goal of a 5.5% expansion.

For more on Chinese economy, we spoke to Stephen Innes, who is managing partner at SPI Asset Management in Bangkok.

#China #ChinaEconomy #XiJinping

The economic crisis in Sri Lanka has taken yet another turn for the worse. Government officials have ordered a fresh lockdown in the country, shutting down schools and suspending non-essential public services. But it's not because it's trying to prevent an infectious disease from spreading. The country is deliberately paralysing its economy because it's run out of money, so it can't pay for fuel. Sri Lanka is currently in talks with the IMF for a potential bailout worth billions of dollars. But that money's contingent on reforms like higher taxes and spending cuts.

For more on Sri Lanka's economy, we spoke to to Professor Guido Cozzi, who teaches macroeconomics at the University of St. Gallen in Switzerland.

#SriLanka #SriLankaEconomy #EconomicCrisis

Oil prices are sliding amid worries that a slowdown in major economies will lead to lower demand. The crude benchmark Brent has fallen more than 4% to around $110 a barrel. Natural gas prices are also down more than 2%. This comes as the US government considers suspending some taxes on oil to ease the burden of high costs on consumers. US President Joe Biden has also called on American oil giants to boost supplies.

For more on the oil market, AJ Bell financial analyst, Danni Hewson joined us from the UK.

#OilPrices #OilTax #OilSupply

Saudi Arabia and Egypt have signed 14 agreements that will help the North African nation cope with the effects of the crisis in Ukraine on the global economy. The deals are worth around 7.7B for various projects. That's according to Egypt's General Authority for Investment and Free Zones. Saudi Arabia's de facto ruler Crown Prince Mohammad bin Salman is in Egypt today as part of a broader tour of the Middle East.

For more on the story, researcher Betul Dogan Akkas joined us from Durham in the UK.

#Egypt #SaudiArabia #MohammadBinSalman

Investors are cautious today amid simmering fears that rapid hikes in consumer prices will lead to a deep economic slump. Wall Street banking giant Goldman Sachs issued a warning to its clients this week that it sees a 30% chance that the US will slip into a recession. But there's optimism that Washington could find a way to provide some much needed relief. The Biden administration says it wants to bring down the price of goods from China, by slashing tariffs put in place by his predecessor Donald Trump.

We spoke to Craig Erlam, who is senior market analyst at OANDA. He joined us from London.

#UnitedStates #USEconomy #Recession

Oil prices stabilised on Monday after falling over the weekend, due to fears the global economy is heading for a recession. Brent crude traded around 113 dollars a barrel. Investors are increasingly worried that major economies like China, the US and Europe are in a slump, which could slow down their purchases of oil.

Han Tan joined us live during the programme. He's the chief market analyst at the Exinity Group in Abu Dhabi.

#OilPrices #GlobalRecession #BrentCrude

The Walt Disney Company has launched its video streaming service, Disney Plus, in Türkiye. The platform is entering a market dominated by local players like Blu TV and Exxen. And as Tayyibe Aydin reports, the entertainment juggernaut is going on a marketing blitz to carve out its own share of the Turkish audience.

We spoke to investment analyst Susannah Streeter about how Disney Plus could set itself apart from the competition.

#Disney+ #Türkiye #StreamingMarket

Cotton is one of the biggest agricultural industries in Adana, in southern Türkiye. But every year hundred tons of cotton are wasted, spilled during the harvesting process. One new venture is looking to cut that waste, and boost farmers' productivity. Rumeysa Codar reports from Adana.

#Türkiye #Agritech #Cotton

The European Union has launched legal action over the UK's plan to re-write the hard-won Brexit deal between the two sides. Britain says existing rules over the Irish border have created problems in its domestic economy. Boris Johnson's government wants to set new terms, but Brussels is pushing back hard. Paolo Montecillo reports.

For the details on that story economist Taha Arvas joined us in the studio. He's an adjunct professor of finance at Bogazici University in Istanbul.

#Brexit #NorthernIrelandProtocol #EuropeanUnion