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00:00 ♪ ("CGTN News Package," main theme, by Gari Media Group plays) ♪
00:07 >> This is CGTN, China Global Television Network.
00:19 ♪ ("CGTN News Package," main theme, by Gari Media Group plays) ♪
00:28 ♪ ("CGTN News Package," main theme, by Gari Media Group plays) ♪
00:34 >> Live from London, this is "Global Business."
00:38 >> Hello, welcome to the program. I'm Jamie Owen.
00:41 >> And I'm Robin Dwyer. Our top stories prepare for takeoff.
00:45 The airline industry is set to climb back to pre-pandemic levels by next year.
00:50 >> Our other headlines follow the money.
00:53 >> As COP reaches the halfway mark, how can green finance limit global warming?
00:59 >> European Union plans to regulate artificial intelligence hang in the balance, and the differences over details.
01:06 >> And Russia's largest force, the Moscow Exchange, threatens to halt trading in the U.S. dollar if Washington targets it with sanctions.
01:20 >> The airline industry is set to climb back to pre-pandemic levels by next year.
01:24 That's the conclusion of the trade group IATA, which said airlines would be more profitable than expected both this year and next.
01:32 It comes as passengers return in force, with the group saying nearly half of customers are traveling the same amount as they did before the pandemic, and one-third saying they're traveling more.
01:43 >> Airlines are expecting to carry a record 4.7 billion passengers next year.
01:49 That's more than the pre-pandemic level of 4.5 billion recorded in 2019.
01:54 >> Airline industry net profits are expected to reach 25.7 billion dollars next year, but the group also raised its 2023 profit outlook to just over 23 billion, which is more than double the 9.8 billion dollars it forecast in June.
02:09 IATA Director General Willie Walsh said the speed of the sector's recovery was extraordinary, but warned that an average net profit margin of 2.7 percent is far below what investors in almost any other industry would accept, and too little for future investment.
02:25 >> Juliet Mann has been talking to Willie Walsh.
02:27 >> Well, I think it's a positive reflection on the state of the industry at the moment.
02:32 We've upgraded our profit forecast for 2023 and continued growth and profitability in 2024.
02:39 So when you consider where the industry has come from, I think it's a fantastic achievement to be back in profit and to be upgrading the profit forecast.
02:48 >> More people are flying, more cargo is being transported by air, but taking on board green considerations, where do you see the direction of travel?
02:58 >> Yeah, this is very important.
03:00 Sustainability is the number one agenda item, I think, pretty much every airline around the world now, given the focus on the environment.
03:09 We have a clear pathway as an industry to net zero in 2050.
03:13 It's going to be very challenging, and it is going to be expensive.
03:17 And in the -- certainly in the short to medium term, we will rely heavily on the production of sustainable aviation fuels.
03:25 And later on, as we get towards 2050, I think new technology developments may well play a part.
03:31 But there is going to be a lot of challenges for the industry.
03:35 We're hard to abate industry, but we're absolutely determined to hit that net zero in 2050.
03:42 >> You mentioned sustainable fuel, and, of course, there was that maiden voyage, the first transatlantic flight recently that was fueled entirely by sustainable fuel.
03:53 Considering that jet fuel prices have been really, really volatile, is sustainable the future of air travel?
04:01 Is it hydrogen? Talk me through it.
04:03 >> Yeah, so in the certainly short to medium term, and I would call that out to about 2040, we will be heavily dependent on sustainable aviation fuel.
04:13 We estimate today that it's about 2.8 times the price of traditional jet kerosene, so it is a significant premium.
04:21 Now, as more fuel is produced, and there are multiple pathways to produce this sustainable fuel, we believe the price will -- certainly the spread will narrow.
04:32 But despite the high cost of sustainable fuel, every single drop that was produced in 2022 and, indeed, in 2023 has been purchased and used by the industry.
04:43 So I think you've got a clear determination by the industry to achieve long-term sustainability.
04:50 >> But as you say, the cost is a huge consideration.
04:54 Let's talk about how expensive flying is getting and the impact that inflation is having.
05:01 And airfares have been surging, haven't they?
05:03 So what's your outlook there?
05:04 >> In general, airfares are matching, if not slightly below the levels of inflation.
05:10 I think everybody's aware of how high inflation has been relative to what we've become used to for some considerable time.
05:18 So, yes, airfares have risen.
05:20 But in the main, they've risen in line with inflation or, indeed, in some cases, slightly below the levels of inflation.
05:26 Now, going forward, given that fuel is the single biggest element of an airline's cost base, and this year and next year it will represent about 31% of costs for the industry on average, that clearly will increase as we transition to more sustainable fuel.
05:44 So I think that's going to put a bit of a challenge in the way of airlines to continue to grow at the pace we have seen.
05:51 So we do see growth levels for the industry moderating a little bit.
05:55 We believe that people will still fly, but it is going to become more expensive because anything that increases the cost of fuel for the airline ultimately will have to be passed through to consumers in the form of higher ticket prices.
06:11 Well, let's stick with flying because Europe's largest package holiday operator, TUI, has forecast a 25% jump in operating profits for next year.
06:19 The German travel group posted full year results that showed earnings before interest and taxes soared 139%.
06:27 Revenue was up 11% to just over $9 billion.
06:31 The company board also said it was considering delisting from the London Stock Exchange in favour of Frankfurt.
06:39 And three airlines have had their advertisements banned in the UK over claims they misled consumers about their effect on the environment.
06:47 Air France's advert said it was committed to protecting the environment, while Lufthansa's urged passengers to fly more sustainably.
06:54 Etihad spoke about its environmental advocacy.
06:58 The UK's advertising watchdog described the claims as misleading.
07:02 The advertising standards authority has been clamping down on companies suspected of overstating their green credentials.
07:09 [Music]
07:14 Europe's climate monitor has declared that 2023 will be the hottest year on record as a new report paints a grim picture of what the coming decades could look like.
07:25 The Global Tipping Points paper concludes that humanity faces devastating domino effects from global warming.
07:31 That's as the United States climate envoy John Kerry addressed the COP28 climate conference.
07:37 We need to emphatically accelerate the pace of emission reductions.
07:45 That is the only way to keep 1.5 degrees alive.
07:49 Well as thousands of business people descend on Dubai for COP, it's becoming clear that green finance is taking a lead role in the push to try to cut emissions.
07:58 So what sort of green projects are catching investors' attention?
08:02 Well Jürgen Rigtoonkerink is vice president at the European Bank for Reconstruction and Development.
08:09 The private sector has obviously a crucial role to play.
08:13 And this is also where we as EBRD come in, because as you probably know, but not all your listeners or viewers,
08:21 is that at least 75% of what we're doing actually is with the private sector.
08:28 But of course we're also working with governments alike.
08:32 We need governments and donors to de-risk certain projects,
08:36 because it's not only about the 10, 12 or 14 billion EBRDs investing annually.
08:43 We actually really want to scale this up to, and I'm sure you heard this, from the billions to the trillions.
08:50 What kind of key climate investments are your clients looking for?
08:58 Actually our clients are looking for everything in the green space.
09:02 Obviously traditionally green has been all about renewable energy.
09:07 So you see us in major renewable projects in our countries of operations.
09:15 That is from Central Asia to the Middle East to Northern Africa, but also Eastern Europe.
09:23 But that's not all we're doing.
09:25 We're also working with clients to actually make their products greener.
09:31 We're working with cities. We have a green city action program, so with municipalities.
09:39 And then lastly we're also working with governments from the policy side,
09:45 because I referred to what I said earlier, the private sector is crucial.
09:49 The private sector actually needs a stable investment climate.
09:53 So there we're also helping their respective governments to achieve that.
09:57 You'll know well that the scientists studying the links between climate change and extreme weather events
10:04 predict that natural disasters are likely to increase in their frequency and their intensity.
10:11 What is the current capacity of the disaster response framework to deal with this?
10:20 That's obviously an excellent question. I just referred to the green city action plan.
10:26 Adaptation is increasingly important.
10:29 We're working with, for example, cities to actually not only make the city greener,
10:36 but also more resilient vis-Ã -vis climate change, because we are a firm believer that what we are seeing,
10:45 for example this year, it will be the hottest year on record, that that regretfully will continue.
10:52 So we're working with all players to prevent that.
10:56 You're watching CGTN, still ahead.
10:59 Palestinians in Gaza are living in utter deepening horror.
11:09 It's become battlefields.
11:19 Ever wondered what's the difference between a bear and a bull market?
11:24 Where are the cash cows and who are the lame ducks?
11:30 And what exactly are black swans, grey rhinos and unicorn companies?
11:41 Make sense of it all with Global Business, only on CGTN.
11:48 I think it should be more public operation.
11:52 I would like to hear more the voice of the developing countries.
11:58 Globalization has lifted more than a billion people out of poverty.
12:04 The green transition has to happen. It's a necessity.
12:08 For China and the United States, our important powers in the world.
12:14 What unites us is much more than what divides us.
12:20 I believe China is committed to this agenda.
12:23 Join me, Juliette Maran, to set the agenda at these times every weekend on CGTN.
12:34 Events have consequences. Words create impact.
12:38 One more offensive in a long line of battles that's been ongoing for...
12:42 Just got to be careful here with some gunshots.
12:46 The world today matters for your world tomorrow.
12:50 The number of casualties is growing quickly.
12:52 This is one of the hardest hit towns in the region.
12:57 The world today, every day, on CGTN.
13:02 Welcome back to Global Business Europe.
13:20 Heavy fighting is taking place right across Gaza, but particularly in the south,
13:24 near the second largest city of Khan Yunis.
13:27 Israeli forces say they've reached the heart of the city
13:30 after the most intense day of fighting in its ground operation
13:33 against the Palestinian armed group Hamas.
13:36 Dozens of Gazans have been killed in artillery shelling and aerial attacks.
13:42 As the fighting intensifies, so does the suffering of the civilians in the besieged enclave.
13:47 The United Nations says Palestinians are living in utter deepening horror.
13:52 Hundreds of thousands of people are under new evacuation orders in southern Gaza,
13:56 but there is nowhere to go because shelters are overflowing.
14:00 Hospitals are also at breaking point, and aid groups say conditions are rapidly deteriorating.
14:06 Civilians in Gaza continue to be relentlessly bombarded by Israel
14:12 and collectively punished, suffering death, siege, destruction, and deprivation
14:18 of the most essential human needs, such as food, water, life-saving medical supplies,
14:24 and other essentials on a massive scale.
14:27 Palestinians in Gaza are living in utter deepening horror.
14:32 Our correspondent Noor Harazin is in central Gaza.
14:36 I mean it's catastrophic, it's miserable.
14:40 It's just going from bad to worse, especially that winter is approaching, it's really cold,
14:45 there is rain every now and then, and most of the evacuation is happening
14:50 in Al-Mawasi refugee camp in east Khan Younis or the UN refugee camp in southern Rafah.
14:58 And those places are actually like deserts, like a desert, and there is no infrastructure there,
15:04 there is no running water, no electricity, no network, no food, nothing.
15:09 So we're seeing people setting their tents on the sand, and that's the only thing that they can do.
15:16 At the same time, it is impossible to squeeze, to evacuate all of those Palestinians
15:22 inside southern Gaza to these places, and that's why, as I mentioned before,
15:27 many Palestinians have made the decision of staying where they are.
15:32 For them, the word safe actually means that less Palestinians will be killed in that area
15:37 than the dangerous areas.
15:40 For example, let me just say something personal.
15:44 For example, my family, they evacuated from their home in Al-Nasr in northern Gaza
15:49 to the Al-Nasr hospital, two weeks there, and then they were forced to evacuate to Khan Younis,
15:54 two weeks there also in Khan Younis, and now I'm working to evacuate them again to Deir el-Balah.
15:59 So this is the third time they evacuate, and they actually evacuate from a place
16:04 that they were told to evacuate to.
16:07 Well, that's the view from Gaza. Let's head to Israel now and talk to our correspondent in Tel Aviv, Sarah Coates.
16:13 So, Sarah, Israel's defense forces have given an update on their operations in Gaza.
16:18 What have they said?
16:23 Hi, Robin. They certainly have.
16:25 They've said they're moving further south, deepening this ground operation further into Khan Younis.
16:30 Now, we have heard from the IDF over the last few hours, it says they've killed at least four senior Hamas commanders,
16:38 also destroying around 250 Hamas targets.
16:42 We also heard, Robin, from the government spokesperson, Alon Levy.
16:48 He said that the army believes that Hamas's Khan Younis battalion was actually one of the key battalions
16:56 responsible for those October 7 atrocities in southern Israel, and this is why that area is just being so heavily targeted.
17:05 Now, we've also heard from the military that it is still operating in the north of Gaza,
17:10 the military releasing pictures of what it says is a weapons storage facility which was near a school and also a mosque.
17:18 The military says it had rocket launchers, rockets, of course, sniper rifles and other explosive devices hidden in it.
17:27 Now, the military's also given an update on the number of hostages that are still being held inside the Gaza Strip.
17:34 That's gone up over the last day from 137 to 138, with the IDF pleading with the international community to step in
17:43 and do something to get these people back.
17:46 This is an urgent call for action.
17:49 The international community must take action.
17:52 The Red Cross must have access to the hostages that are in the hands of Hamas.
17:58 As the IDF expands its operations to dismantle Hamas in Gaza, we have not lost sight, not for one moment,
18:07 of our critical mission to rescue our hostages, to do everything in our power to bring our hostages home.
18:16 And look, these expanded ground operations, what is really concerning these families,
18:23 they believe that their loved ones will be the ones that are caught up in this,
18:28 will be the ones that are killed rather than these Hamas targets.
18:31 And Sarah, there have been claims that some Israeli hostages were sexually assaulted by Hamas.
18:37 Absolutely shocking claims.
18:42 These are coming from these recently released hostages, also witnesses, first responders,
18:47 that were there at the scene on October 7th down in southern Israel.
18:50 They are detailing graphic things they say happened to these people.
18:55 They say rape and sexual assault happened to people from children all the way up to the elderly, men and also women.
19:04 Now, we've heard some details that are honestly too graphic to say on air, Robin.
19:10 It's absolutely horrendous.
19:12 But some of these first responders have said that these people, after they were raped,
19:17 they were so badly disfigured, so badly tortured,
19:22 that these first responders couldn't figure out whether they were men or women.
19:26 So look, really only one needs to imagine the horrors that these people would have gone through.
19:31 And we've also heard from the US President Joe Biden.
19:34 He is urging the international community to strongly condemn these things that happened,
19:40 saying that these things should never, ever be acceptable.
19:44 And look, we've also heard from a senior US official that Hamas is likely not freeing the rest of these female captives
19:52 inside the Gaza Strip simply because it doesn't want them speaking.
19:56 So look, these are absolutely horrendous allegations,
19:59 and allegations, of course, that will have these captive families extremely worried.
20:04 Sarah, thank you very much.
20:05 Our correspondent, Sarah Coates, in Tel Aviv.
20:08 China's Foreign Minister Wang Yi has again called for de-escalation in Gaza.
20:13 In a phone call with the US Secretary of State, Antony Blinken,
20:16 Wang says the priority is to stop the fighting.
20:19 China says it's willing to work with all parties to try to resolve the conflict.
20:23 Antony Blinken reiterated the need for efforts to prevent it from spreading across the region.
20:29 Leaders of the G7 countries are expected to reiterate their support for Ukraine
20:36 at a video summit attended by President Zelensky.
20:39 The call to discuss ongoing support in Kyiv's conflict with Russia
20:43 is being hosted by Japanese Prime Minister Fumio Kishida.
20:46 The summit comes just a day after Zelensky unexpectedly cancelled an online briefing with US senators,
20:52 in which he was to have appealed for continued funding.
20:55 A 60 billion dollar Ukraine aid package has been stuck in the US Congress for weeks.
21:01 Russia's largest boss, the Moscow Exchange, has threatened to halt trading in the US dollar
21:07 if Washington targets it with sanctions.
21:09 Last month, the US introduced restrictions on another Russian exchange, SPB,
21:14 and some Russian experts believe that the Moscow Exchange could be next.
21:18 The US Treasury imposed sweeping new measures in November
21:21 that also aim to curb Russia's future energy capabilities and sanctions evasion.
21:26 Let's talk now to our correspondent, Dasha Chernysheva, in Moscow.
21:30 Dasha, what more have we heard from Moscow?
21:33 Well, we have heard from the representatives of the Moscow Stock Exchange,
21:40 who have suggested that the players of the platform of the Russian Stock Exchange,
21:45 the stock exchanges, both Moscow and St. Petersburg Stock Exchange,
21:49 have been prepared for this case, for this scenario, in case those sanctions are imposed
21:54 and they do understand how to behave in this situation.
21:57 He has said, that was actually the representative called Igor Marish,
22:01 he was very clearly saying that the sanctions against Moscow Stock Exchange
22:06 have been discussed in the public sphere for a while,
22:09 that's why the Stock Exchange has been working out the contingency measures.
22:13 When asked about the possibility of trading in the US dollar,
22:17 he did say that obviously the dollar will not be traded if the American sanctions are imposed.
22:23 But at the same time, he did say that very clearly the US dollar is not playing the role that it used to play before.
22:30 So at the moment, he said that very few still have the accounts in these accounts
22:35 and that will not impact the value of the Russian ruble,
22:40 because according to the Central Bank, this value is being evaluated
22:45 both on the accounts trading as well as over the counter trading.
22:49 So certainly we understand that a lot is now being in the preparation for this case of scenario
22:55 and the players of the stock market have been warned about this possibility as well.
22:59 And what impact have previous sanctions had on Russia's second largest stock exchange, the SPB?
23:07 Well, indeed the St. Petersburg Stock Exchange is the one which used to trade in foreign assets
23:17 and we understand that because of the sanctions that have been imposed by the United States,
23:21 SPB is no longer able to trade those foreign assets on its stock exchange.
23:28 We also understand that it is now working with the experts in the legal sphere
23:33 to work out the way to unblock their clients' assets.
23:36 So certainly this is also the process in the making.
23:39 We understand that more than two-thirds of all Russian clients' foreign currency funds are now being blocked
23:46 and certainly this is the situation that does require the involvement of the legal experts.
23:52 On the side of the investors, we also understand that that was largely anticipated and expected
23:59 and that's why many Russians have been opening their stock accounts and broker accounts
24:05 in the neighboring countries resulting to, for instance, using Kazakhstan stock exchanges and so on and so forth,
24:12 because that was very clear that Russian stock exchanges could be the target of the next Western sanctions.
24:18 Dasha, thank you for that. Our correspondent, Dasha Chernyshova in Moscow.
24:23 You can get highlights from the week's news in Europe and China direct to your inbox from CGTN's storyboard email newsletter.
24:30 Sign up at europe.cgtn.com/newsletter.
24:34 You're watching CGTN. Still ahead, trade wars, climate change, Ukraine and Gaza.
24:40 A full agenda for leaders from China and the EU meeting in Beijing.
24:46 Welcome to This Way Forward.
24:49 I'm Emma Keeley.
25:11 I'm Emma Keeley.
25:15 What do we mean when we talk about the difference?
25:26 The difference is in the detail.
25:31 The background.
25:34 Defense ministers from the wider angle and perspective of every story.
25:42 Wherever the story may be, CGTN.
25:48 See the difference.
25:51 Hello, welcome back to Global Business Europe with Jamie Owen and Robin Dwyer.
26:02 Our top stories prepare for takeoff.
26:05 The airline industry is set to climb back to pre-pandemic levels by next year.
26:10 Follow the money as COP reaches the halfway mark.
26:15 Delegates are still trying to work out how can green finance limit global warming?
26:20 And Russia's largest boss, the Moscow exchange, threatens to halt trading in the US dollar if Washington targets it with sanctions.
26:31 European Union plans to regulate artificial intelligence hang in the balance amid differences over details.
26:40 Two years ago, Brussels said it would take the lead and set a global benchmark with its AI act.
26:46 But since then, the use of artificial intelligence has increased exponentially, threatening to leave the legislators behind.
26:53 Lawmakers are currently meeting to try to thrash out a compromise.
26:57 Our correspondent Paul Hawkins is following the story.
27:01 The key sticking point seems to be on how strict and far-reaching these regulations should be.
27:06 It's the age-old debate when there's new technology between innovation and regulation and where's the right balance.
27:14 You don't want to stifle it, but equally you don't want to let the genie out of the hat.
27:19 So this piece of legislation has been around for a couple of years now, knocking around before it, or this proposal I should say, for a piece of legislation since 2021.
27:28 Essentially, the two stumbling blocks are over chat GPT, which first emerged last November.
27:35 And in tech terms, the phrase they use is basic foundation models, things like chat GPT.
27:42 Germany, France and Italy wanted excluded, want these kind of models excluded from regulation.
27:47 Instead, they would have what they call binding codes of conduct.
27:51 Other member states think, no, we want to include that under the banner of legislation.
27:56 The other thing is biometric surveillance, so facial recognition, recognition from things like CCTV cameras.
28:03 Now, the European Parliament wants a blanket ban on their use in real time by AI.
28:09 But member states, EU member states say, no, can we have an exception when it comes to national security and defence?
28:15 So those are the two main stumbling blocks at the moment.
28:18 So leaders meeting in Brussels trying to work out a compromise on this.
28:23 How desperate are they to make one? And what happens if they can't?
28:27 Answer, very desperate, because there are EU parliamentary elections on the way in June.
28:33 They said that they need to get it done really within the lifetime of this parliament, because we're now in a kind of global race to regulate AI.
28:42 Who is going to set the benchmark first and take the lead on it?
28:45 We know that in places like China, AI companies or companies that are submitting big AI models,
28:51 they have to go through a security clearance before they are then released.
28:54 In the US, Joe Biden recently signed an executive order where he said that AI companies have to release their test results first.
29:01 In the UK, there's something similar, but it's on a voluntary basis.
29:04 The EU have always said we need to get ahead of this game, but time is running out.
29:09 And really, if they don't get it done by the end of the year, there just simply won't be the time to legislate,
29:13 because you're talking about 27 member states not only negotiating and trying to find a compromise between all those 27.
29:19 Don't forget, there's the EU Council, the European Commission and the European Parliament all negotiating as well.
29:24 So there's a lot of negotiations and there's very little time left.
29:27 Paul, thank you very much. Our correspondent, Paul Hawkins.
29:32 Now, talks between German government coalition partners failed to reach any agreement on how to plug the $18 billion hole in next year's budget.
29:42 This means Parliament is now unlikely to approve a 2024 budget by the end of this year,
29:48 leaving the funding for environmental projects, social benefits and local authorities in limbo.
29:56 Chinese electric vehicle maker NIO says its net losses in the third quarter narrowed by 24.8% from the second quarter.
30:05 Vehicle sales hit nearly $2.4 billion, an increase of 142.3% from the last quarter.
30:12 On Tuesday, NIO bought production lines from JAC Motors in a bid to cut manufacturing costs by 10%.
30:20 China says it strongly opposes the UK's move to sanction three Chinese firms for supporting Russia in the war with Ukraine.
30:29 The Chinese embassy in London has lodged a representation with the British government.
30:34 It said the UK's action violated international law.
30:37 The embassy also urged the British government to withdraw the sanctions and vowed retaliation for any attempt to harm China's interests.
30:47 Leaders from China and the EU will meet in Beijing on Thursday for the first in-person leaders' summit since the pandemic.
30:54 Talks are expected to focus on a growing trade dispute, climate change and other geopolitical issues,
31:00 including the conflicts in Ukraine and in Gaza.
31:03 Our correspondent Peter Oliver reports.
31:05 This will be the first in-person China-EU summit since 2019.
31:11 An awful lot has happened since then. Beijing and numerous leaders of EU member states have emphasised the importance of getting these face-to-face meetings back on track.
31:23 When President Xi Jinping, Premier Li Chang and the European Council President Charles Michel and EU Commission President Ursula von der Leyen sit down,
31:34 trade is expected to be very close to the top of their discussions.
31:39 The European side want to see more going from here towards China.
31:44 Before the trip, Commission President von der Leyen said the current situation is that when three containers come into Europe from China, two go back empty.
31:54 The trade deficit between China and the EU currently stands at around $420 billion annually.
32:02 We can also expect the ongoing conflict in Ukraine to be discussed.
32:06 It's understood that the European leaders will try and convince Beijing to distance itself from Moscow.
32:13 While we have heard from the Chinese foreign minister saying that any attempt to find a solution to the conflict that doesn't involve Russia was just an act in futility.
32:25 This meeting comes off the back of what has been regarded as a successful meeting last month between Xi Jinping and his US counterpart, the United States President Joe Biden.
32:36 A similar result would certainly be welcomed in EU member state capitals like here in Berlin.
32:44 Germany does hundreds of billions of dollars worth of trade with China every single year.
32:49 Peter Oliver, CGTN, Berlin.
32:52 This year has seen a flurry of diplomatic activity between China and the EU.
32:58 In March, Spain's Prime Minister Pedro Sanchez paid a state visit to China, becoming the first European statesman to visit since the lifting of COVID controls.
33:08 A week later, President Xi Jinping hosted French President Emmanuel Macron and EU Commission President Ursula von der Leyen.
33:15 Xi and Macron agreed to designate 2024 a China-France year of culture and tourism to boost cultural exchanges.
33:22 In June, it was China's turn to come to Europe.
33:25 Premier Li Chang held talks in both Berlin and Paris, meeting Germany's Chancellor Olaf Scholz and President Macron.
33:32 Li said the EU's de-risking strategy needs to not jeopardise economic ties with Beijing.
33:38 Italy's Prime Minister Giorgio Maloney held talks with Li on the sidelines of the G20 summit in India in September.
33:44 They vowed to deepen and consolidate relations.
33:47 But it was in October in Beijing where the foundations for this China-EU summit were nailed down between the EU's Foreign Policy Chief Joseph Borrell and China's Foreign Minister Wang Yi.
33:58 And just last month, Greek Prime Minister Kyriakos Mitsotakis paid a state visit to China and maintained that their bilateral relationship is strong and mutually beneficial.
34:08 A Chinese company is helping Greece to go green. The Greek Prime Minister Kyriakos Mitsotakis has called on communities to go electric.
34:18 And a Chinese electric vehicle maker is helping them to do just that.
34:22 Our correspondent Evangelos Tsipisas reports.
34:26 They are small, silent, efficient and green.
34:30 Le Massol's public transportation company, also known as Emel, has incorporated 35 electric minibuses into its fleet, made by Chinese bus manufacturer King Long.
34:43 The young firm is still developing its image and according to its CEO, what a better way than going electric.
34:51 It gives credibility to your social role as public transport in the community, that not only you, if you have 30 passengers in a bus, it means 30 private cars are not being used.
35:11 Now the bonus is that this bus will have zero emissions and that is social responsibility.
35:19 While Emel is using minibuses to adapt to its narrower streets in Le Massol, in the Greek capital, in Athens, there is a similar push for electric micro-mobility, but for individuals.
35:34 In the Keratsini area, near the port of Piraeus, Nikos Zoumbis' dealership focuses exactly on that, providing micro-mobility solutions.
35:44 In cooperation with Chinese EV manufacturer Zidoo, they offer a range of small electric vehicles designed for urban driving or areas with narrower streets, such as the Greek islands.
35:58 In Santorini, the total road network may be roughly 50 or 60 kilometers. So for these vehicles, you can drive six circles, maybe three or four days to charge at once.
36:17 It might not look like your average vehicle, but it acts like any other EV on the market. It's silent, it charges fast, it produces no emissions and there are incentives by the government, if you buy one, lower insurance costs and no extra road fees.
36:35 That's why the Greek Prime Minister Kyriakos Mitsotakis believes that these vehicles can make a difference when it comes to becoming carbon neutral, whether that is in Athens or on the islands.
36:50 You've seen some of the examples and these examples are particularly important, not just because they highlight the impact that technology can have on making these islands reach their climate neutrality targets before the rest of the country.
37:06 They're important because what we have succeeded in doing is also to bring the local communities on board.
37:13 While the infrastructure, both in Greece and Cyprus, is still developing for larger and long range EVs, electric minicar sales are taking off, primarily driven by advanced battery and short charging times, making these minicars move in the market's fast lane.
37:30 Evangelos Tsipras for CGTN, Athens.
37:34 You're watching CGTN Still Ahead. Former UK Prime Minister Boris Johnson is cross examined at the COVID inquiry and apologises for his part in the country's pain, loss and suffering.
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40:21 Hello, welcome back to Global Business Europe.
40:23 Former UK Prime Minister Boris Johnson says he's deeply sorry for the pain, loss and suffering of victims of COVID-19.
40:31 He's facing two days of questioning at an inquiry into the government's handling of the pandemic.
40:36 Previous witnesses, including former ministers and top scientists, criticised Johnson for his decision making and his capabilities while he was in charge.
40:45 His testimony was interrupted several times by members of the public.
40:50 I'm glad I'm at this inquiry and I'm sorry for the pain, loss and suffering.
41:02 I understand the feelings of these victims and their families and I'm deeply sorry for the pain, loss and suffering of those victims and their families.
41:14 Let's talk to our correspondent Yolo Abdavid who's outside the hearing in London.
41:20 Yolo, many things have been said about UK Prime Minister Boris Johnson and many questions asked about his decision making.
41:27 But now it is his turn. So what did he have to say?
41:34 It's been eagerly awaited I think it's fair to say. You can see the scrum of media and press here outside the public inquiry in central London.
41:44 People are waiting to see when Boris Johnson leaves as the proceeding for today at least has just come to an end.
41:52 I think quite a lot of his answers today will have lots of people reflecting, not least bereaved families of people who've been lost during the Covid years when Boris Johnson was Prime Minister.
42:07 Quite a number of very revealing statements or answers under cross-examination today by Hugo Keith KC who's the lead counsel in this inquiry.
42:21 Not least how underprepared the UK government was and possibly also Boris Johnson as former Prime Minister.
42:29 That they didn't actually understand that Boris Johnson didn't understand that the virus and the danger of the pandemic as it was heading across Europe, namely in Italy in February and early March, and they underestimated that.
42:46 But it's a qualified response by Boris Johnson, qualified in the way that he said it was us as government scientists, advisers, not just him as Prime Minister leading the government at that time.
42:59 And also the fact that he did not, he chose not to attend or chair five COBRA meetings.
43:06 Now these are the meetings that bring all the leaders of the various emergency services including the police, the military, other ministers and so on, civil servants in different departments, bring them all together to try and see and deal with the huge problem of the pandemic as it actually got nearer to the UK.
43:25 And all that is quite revealing. He started the proceedings with the apology but it's very revealing that he didn't seem, that he acknowledged that they definitely underestimated the extent of the pandemic.
43:38 Inevitably we got some things wrong. I think we were doing our best at the time. Given what we knew, given the information I had available to me at the time, I think we did our level best. Were there things that we should have done differently? Unquestionably.
44:04 And that will be picked up I think, including the fact that there were 5000 missing WhatsApp messages, that there were concerns asked of Boris Johnson in terms of other leadership, the culture around his team in Downing Street.
44:22 And of course there will be another day for the investigation and the inquiry to continue tomorrow.
44:29 We heard the interruption of proceedings from members of the public at the hearing, including relatives presumably. What have they been saying?
44:41 Yes, four of them were asked to leave the proceedings this morning. And I think that shows the anticipation of Boris Johnson possibly more than any other politician, any other minister, any other advisor or scientist to be here, to be grilled face to face under oath.
45:03 And I think that reflects the depth of feeling. Now, there are bereaved families, as I said, and their representatives have a seat inside this inquiry to listen to all the evidence.
45:16 And there are different groups in different parts of the UK because health is devolved in terms of health minister and health in the UK, in England, also in Wales, Scotland and Northern Ireland, and representatives from families from the four nations were here.
45:34 And even though the apology was listened to, and obviously there was a second apology this afternoon, it's very hard to see how these apologies will change people's views.
45:46 And one of the people who spoke in an impromptu press conference here a few hours ago was Anna Louise Marsha Rees on behalf of the bereaved families in Wales.
45:58 We all knew he was he was disorganized and disdainful, but, you know, had no idea.
46:05 And I'm going to use some C words here, but not out of the Dominic Cummings lexicon.
46:09 But I wasn't aware how casual, careless, chaotic, clueless he was, but sadly not competent, not with and without conscience and 100 percent not contrite.
46:25 And that, I think, reflects the disdain for the former prime minister.
46:31 All those words, adjectives that describe what so many people obviously feel was a pretty chaotic period of government in a at a time of unprecedented challenges for any government really to face.
46:46 But obviously there is a very, very deep feeling of resentment that his government and his leadership or the Chancellor's leadership, it didn't go as well as it should by any means.
46:57 YOLO, thank you for that. Our correspondent YOLO Abdabif outside the Covid hearing in London.
47:03 The British government has promised that injustices suffered by relatives of the victims of the country's worst ever stadium disaster will never be repeated.
47:12 It signs the Hillsborough Charter named after the stadium where 97 Liverpool football fans died after a crash in 1989.
47:20 Families campaigned for years after the police blamed the tragedy on supporters' behavior.
47:25 An inquiry later concluded that fans were unlawfully killed and that the police were partly to blame.
47:31 Nigeria's president has ordered an investigation into a military drone attack that killed at least 85 people.
47:39 Bolotonovo called the attack on a Muslim festival in the state of Kaduna very unfortunate and disturbing.
47:47 Security forces were targeting armed gangs in the area.
47:51 The army chief has apologized and promised to pay hospital costs for those injured.
47:58 Survivors are heading back to what's left of their homes after flash flooding swept through northeast Tanzania on Saturday.
48:08 At least 63 people were killed and more than 100 injured.
48:12 Storms have been pounding East African countries since October, killing hundreds of people in Kenya and Somalia.
48:19 Venezuela's president, Nicolás Maduro, has ordered the country's state-owned companies to immediately begin mining in Guyana's contested Essequibo region.
48:31 In a referendum on Sunday, Venezuelans voted to claim sovereignty over the area, which is twice the size of Ireland.
48:39 Residents of Guyana denounced the poll, which some fear is a pretext to annexation of the region.
48:47 Climate scientists say that global warming is likely to fuel extreme weather, including droughts and torrential rain.
48:55 In Hungary, two brothers have developed a pioneering way of storing water, and the concept is catching on elsewhere in Europe.
49:03 Our correspondent, Pablo Guterres, reports.
49:07 For nearly three decades, Erno Koska has been cultivating apple, peach and plum trees in his orchard just outside Budapest.
49:17 Growing these fruits have become increasingly challenging in parts of Hungary because of their need for consistently moist soil and intolerance to drought.
49:27 Sometime in the near future, these particular fruits won't be readily accessible.
49:33 Our children and grandchildren will likely grow species that might require less water and thrive in hotter weather conditions.
49:42 Hungary is facing increasing aridity and desertification in some regions due to severe drought.
49:48 Dry conditions destroyed over half a million hectares of crops a year ago.
49:53 Especially last year was very dry, so we can say that there was a bit of a panic among farmers about what to do about this situation.
50:04 Gergeli Toro, along with his brother Attila, devised a simple yet innovative solution to address the growing need for water storage.
50:13 They created the world's largest waterproof pond linings, which enable faster and more cost-effective installation for farmers.
50:22 We can prefabricate huge liners to the customer needs, up to 4,000 to 5,000 square meter big panels,
50:29 which means that we can ship the liners to the actual customer who can install it by themselves.
50:35 The pond linings are made from a cutting edge material known as geomembrane, which combines a fiber mesh and special coatings to improve waterproofing.
50:46 The pond behind me holds nearly 3,000 cubic meters of water. We irrigate 10 acres of our 15 acre orchard using a drip irrigation method.
50:57 However, not all ponds manufactured by the company are employed in agriculture.
51:02 In the neighboring region of Sjögard, they play a crucial role in water treatment.
51:08 This wastewater treatment system consists of six ponds, each one with a unique function in removing pollutants through natural processes.
51:21 Sjögard's mayor says this solution has been cost-effective and environmentally friendly.
51:27 Using pipes and pumps, sewage water flows through each pond.
51:32 The plants inside the ponds have roots that absorb pollutants from the sewage water, neutralizing them to produce clean water.
51:39 Gergely and his brother have also supplied and set up ponds for farmers in Germany, Ireland, Portugal and the Netherlands.
51:47 They encourage farmers to see water, much like prehistoric hunters viewed capturing animals.
51:53 It's crucial to collect as much as possible when it's abundant and use it judiciously in times of need.
52:00 Pablo Gutiérrez, CGTN, Budapest.
52:03 Now, whatever the tensions in geopolitics, football plays on regardless.
52:09 China's national women's football team is in Texas, where they played two friendly matches against the United States.
52:15 The two are no strangers, having played each other nearly 60 times.
52:19 The rivalry and sportsmanship is seen as an example of healthy competition and the power of sports diplomacy.
52:25 Our correspondent, Toni Waterman, reports.
52:28 If anyone knows what it's like to play football on the international stage, it's Linda Hamilton.
52:35 She's a former defender for the U.S. women's national team and was playing when the U.S. won the first woman's World Cup in China in 1991, a trip that left an impression.
52:48 Such an open, kind. Everybody wants you.
52:53 I mean, they couldn't give me or offer me enough. Do I have enough food? Do I have enough tea?
53:01 She's now the head coach of the woman's football team at Southwestern University in Texas.
53:06 But her love of travel and learning about different cultures persists, which is why when she's not on the pitch, she's a sports envoy for the U.S.
53:17 Having visited some 10 countries already, including Malaysia, Egypt, Vietnam and China.
53:24 Sport can really serve to make bonds and friendships.
53:27 I think it allows it to be really about human to human and not Chinese to American.
53:34 And allow us to really get to know each other without fear and seeing each other as individuals.
53:43 Sport has proven a powerful tool of soft diplomacy for decades, from ping pong to kung fu to the Olympics and World Cup.
53:52 And while nearly all sports can transcend cultural, language and religious barriers, experts say football is uniquely positioned to bring people together.
54:01 It is, after all, the most popular sport in the world, with more than three and a half billion fans.
54:08 The challenge is making sure competition doesn't get in the way of cultural outreach.
54:14 I think when the focus is on winning another trophy or, you know, talking about how many medals that you've won, it increases tribalism.
54:23 It increases, you know, like retrenchment as opposed to the building of bridges.
54:30 So I think these international friendlies, there is some very real potential if we focus on the meaningful connection, the one on one engagement.
54:44 Experts say female athletes have been powerful ambassadors of understanding, leveraging sport to not just dispel cultural and racial stereotypes, but female stereotypes as well.
54:58 There was a time, you know, women have been protected. You can't run long distances because you're going to interfere with your your body's ability to produce children.
55:06 Right. There was a time when women played basketball. They could only go half court.
55:11 Now we're seeing female athletes at the elite level giving birth, having a baby, coming back to participate in this game.
55:20 So when we think about diplomacy and all of these things again, it has provided women with a voice.
55:26 A voice that so often realizes there's more that unites us than divides.
55:32 Tony Waterman, CGTN, Austin, Texas.
55:36 China has successfully completed its first ever space launch in the South China Sea.
55:42 A satellite for China's space Internet system has reached the target orbit.
55:46 The mission was carried out by the Taiwan Satellite Launch Center.
55:53 The headlines again. Prepare for takeoff. The airline industry is set to climb back to pre-pandemic levels by next year.
56:02 All of the headlines follow the money as COP reaches the halfway mark.
56:06 Delegates are still trying to work out how green finance limits global warming.
56:13 European Union plans to regulate artificial intelligence hang in the balance amid last minute haggling over details.
56:22 And Russia's largest boss, the Moscow exchange, threatens to halt trading in the US dollar if Washington targets it with sanctions.
56:32 That's it for Global Business Europe. Thanks for watching.
56:34 More on all of our stories at Europe.CGTN.com.
56:37 And do follow CGTN Europe on Facebook and Instagram and TikTok.
56:41 And you can go to CGTN Europe's channel on the Telegram app or scan the QR code on the screen to get stories and updates sent direct to your phone.
56:49 Coming up next on CGTN, it's Africa Live. We'll see you again tomorrow.
56:53 Same time, same place from all of the team in London. It's goodbye.
56:57 Goodbye.
56:58 ♪ ♪
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