World Business Report

The Taliban in Afghanistan have appealed for international support, as the country deals with the aftermath of a devastating 6.1 magnitude earthquake. Over 1,000 people have died and at least 1,500 injured, according to local officials. Sri Lanka's prime minister Ranil Wickremesinghe says its troubled economy has collapsed and the country is unable to even pay for oil imports. Mr Wickremesinghe also said he is trying to put together a conference of donors, which, along with the above, would potentially also include China and Japan. Allegations of corruption pointed at senior government officials in Malawi.

Today the Sri Lankan prime minister, Ranil Wickremesinghe, said the country's economy has completely collapsed and needs international support. Addressing parliament, he said a donor conference would be convened to seek financial assistance from China, Japan and India. Dhananath Fernando is the Chief Operating Officer at the independent policy think tank the Advocata Institute in Colombo. He tells us what might have prompted the prime minister to conclude that an economic collapse had been reached. It's estimated that as many as one thousand people have died in an earthquake in Afghanistan and another 1500 people have been injured. The Taliban has called on aid agencies to help reach the worst-affected areas but so far few have been able to reach those in need. Head of delegation in Afghanistan for the International Committee of the Red Cross, Eloi Fillion joins us from Kabul. Prices in the UK are continuing to rise at their fastest rate for 40 years due to climbing food, energy and fuel costs. Russ Mould, investor director at AJ Bell, tells us how the markets have been reacting. In India financial content creators are seeing their popularity and their fortunes soar. Their fame coincides with the huge wave of retail investors coming into the equity markets. Our India Business Correspondent Nikhil Inamdar explains. After three long years many festivals are reopening their gates, and one of the world's most famous, Glastonbury, is starting this weekend in England. The BBC's Colin Paterson was there when Michael Eavis, the founder and organiser of the festival, welcomed people to the site once again. Director of MTN Bushfire festival, Jiggs Thorne, tells us how popular festivals are in Africa and the challenges faced. (Picture: Afghan people carry sacks of food grains distributed as an aid by the World Food Programme (WFP) in Kandahar on October 19, 2021. Picture Credit: JAVED TANVEER/AFP via Getty Images).

Russia has warned Lithuania of "serious" consequences after it banned some goods to the Russian territory of Kaliningrad. Kaliningrad - a strategic region where Russia's Baltic Fleet is headquartered - has no border with mainland Russia. Russia's senior security official Nikolai Patrushev said Moscow will certainly respond to such hostile actions. A British subsidiary of the mining company Glencore has pleaded guilty in a UK court to corruption offences, after being accused of paying millions of dollars in bribes to secure access to crude oil in Africa.

Only 20% of trains across England, Scotland and Wales are running as the RMT union strike for three days over job cuts, pay and pensions. The Prime Minister, Boris Johnson has said commuters must "stay the course" and urged rail bosses and unions to agree a deal. The BBC’s Rowan Bridge gives us an update from Manchester Piccadilly station in the north west of England. And it’s not just the UK. Yesterday, public sector health workers and teachers walked out over pay in Zimbabwe. There was also a nation-wide strike by trade unions in Belgium. Emeritus professor of economics at Ottowa University, Mario Seccareccia, explains. The Hungarian government is subsidising fuel to around $1.25 a litre. But the policy triggered a wave of fuel tourism, as drivers from neighbouring countries crossed the border to fill up their cars more cheaply. The government has said cheaper fuel would only be available to Hungarian-registered cars, something the EU says is discriminatory and could land Hungary in court. Gabor Egri, President of the Independent Petrol Station Association of Hungary, tells us how petrol station owners are reacting. India has been firefighting a diplomatic row with Arab countries because of derogatory remarks made by the spokesperson of the ruling Hindu nationalist party, the BJP, about the Prophet Muhammad. Following strong objections and protests in these countries the spokesperson has now been suspended. The BBC’s Devina Gupta tells us how much this has impacted India’s relations with the Gulf countries, where it does trade worth billions of dollars. A gigantic cruise ship being built in Germany could be sold for scrap metal before it ever sets sail. We find out more from Captain Ken Caine of shipbrokers QPS Marine Ships in Florida. A new book called "The No Club" explains how doing the jobs which keep managers happy day-to-day, can actually hold you back in your career. The BBC's Leanna Byrne spoke to the book's four authors: Professors Linda Babcock, Lise Vesterlund, Brenda Peyser and Laurie Weingart.

Ukrainian President Volodymyr Zelensky has called Africa "a hostage" of Russia's war during an address to the African Union (AU) on Monday nearly ten weeks after he first asked to address the continental body. African countries have been divided in their response to Russia's war in Ukraine. Hundreds of Zimbabwe’s public sector health workers have gone on strike over low wages and poor working conditions following a worsening economic crisis that has seen thousands of health workers leave public service in the last three years. (Image: President Zelensky in Kyiv. Credit: Getty)

Hundreds of public sector health workers and teachers went on strike with organisers saying they can't afford to feed their families. The BBC's Zimbabwe correspondent Shingai Nyoka gives us an update. Columbia elected its first ever left-wing president at the weekend. Gustavo Petro is a former mayor of Bogotá and an ex-rebel fighter. Mr Petro defeated the right-wing millionaire Rodolfo Hernández in Sunday's run-off election with 55% of the vote. We get reaction from businessman Hernando Barreto and Director of Colombia Risk Analysis, Sergio Guzman in Bogotá. Investment Banker at AJ Bell, Russ Mould talks through the impact of airlines’ stock price and the markets reaction to more big retailers turning to online. Floriade is a huge horticulture exhibition taking place every 10 years. It's in the Dutch city of Almere this year. For 6 months, visitors will see displays of plants and flowers, horticultural innovation – and proposed solutions to global environmental problems, especially in the area of urban housing. Matthew Kenyon has been to visit and hear about the challenges of putting it together during the pandemic.

We hear from Alan Wolff, the former deputy directory-general of the World Trade Organisation about the deal on banning fishing subsidies - that has been achieved after more than 20 years of talks. After a tumultuous week we check in with the markets on Wall Street. Joe Saluzzi, Institutional partner at Themis Trading joins us. A BBC survey of more than 4 thousand adults in the UK shows people are cutting back on food and car journeys to save money. Nancy Marshall Genzer of our US partner programme Marketplace has been investigating how American Gen Zs are coping with the economic instability. Colombians go to the polls on Sunday in an election that commentators say will change the direction of the country - no matter who wins. Sergio Guzman, director of Colombia Risk Analysis, and Businessman Hernando Barreto give their views.

The European Commission has recommended to give Ukraine and Moldova candidate status, moving their application forward in a process that will still take many years to complete. European leaders will meet next week to vote and the approval of all 27-nations is needed for both countries to be officially declared candidates to join the EU. Oleg Chernyak, CEO of CHI Software, tells us about the hopes this brings to a war-torn country. India is seeing violent protests against a new military recruitment scheme. One person was killed in the southern city of Secunderabad after police opened fire to disperse a mob attacking a railway station. Sushant Kumar Singh from the Centre for Policy Research in India explains why the scheme is controversial while the BBC's Surekha Abburi brings us the latest from the protests. The director of the World Trade Organisation Ngozi Okonjo-Iweala says marathon talks in Geneva have produced a series of trade deals that will make a difference to the lives of people around the world. We talk to Alan Wolff, former deputy director-general of the WTO, and BBC Africa's Charles Gitonga. President Vladimir Putin says sanctions against Russia over the invasion of Ukraine are an 'economic blitzkrieg' that backfired on the West. We hear from Shanti Keleman, chief investment officer at M&G Wealth, about this and other developments taking place in the markets. The Netherlands has invested 100 million euros to start flying hydrogen planes to London by 2028. We talk to Michel Van Ierland, an entrepreneur who participates in the project.

Central banks across the world have raised interest rates in the last six months, in a bid to contain the most rapid inflation in decades. We speak to Cary Leahey an Economist in New York. Leaders of Germany, France, Italy and Romania have said they support Ukraine's bid to join the European Union. Deputy Director at the Bruegel economic think tank, Maria Demertzis, tells us what the likelihood is of a union with Ukraine. Tesla boss, Elon Musk, has been speaking to Twitter employees today. Editor of The Verge, Alex Heath, has been following the story since it began. The value of bitcoin has fallen about 30% in the last 10 days. The BBC’s Joe Tidy visited the capital, San Salvador, to see how widespread the use of bitcoin is there. Cosmetics firm, Revlon, has filed for bankruptcy protection as it struggles against massive debts and stiff competition. Lauren Thomas from CNBC tells us why such a big brand failed to survive in a pressured economic climate.

We explore the fallout of the US Federal Reserve's interest rate hike. The Bank of England has followed suit by raising the cost of borrowing by 0.25 percent in an attempt to control inflation. We hear from Jason Furman, an economics professor at Harvard and a former economics advisor to President Barack Obama. The value of bitcoin has fallen about 30% in the last 10 days, devaluating investors' funds around the world. One of them is the government of El Salvador, where bitcoin was made legal tender last year. The BBC's Joe Tidy visits the country to see how widespread the use of the cryptocurrency is while Stephen Obehi, a Nigeria based cyber security analyst, tells us about a similar policy in the Central African Republic. Transport in Tunisia has been suspended as hundreds of thousands of state employees hold a 24-hour strike to demand better pay amid soaring inflation. Souhail Khmira, a journalist in Tunis, explains the reasons. Plus, we discuss Elon Musk's attempt to buy Twitter as he is expected to speak to staff this week for the first time. We talk to Ross Gerber, president of California based investment firm Gerber Kawasaki, an investor in both Twitter and Tesla.