To network and make deals. This is the business. Of the volatile session on the markets asian shares tumbled again on friday morning after wall street more heavy losses of nearly a 1000 points this massive swings driven by concerns about the fast spreading coronavirus markets like clarity but analysts say there is very little of that right now in asia the nikkei dropped almost 3 percent. Shared over 2 percent blue chip bags investors disruptions to Global Business intensifying soaking fears of a prolonged slowdown in the Global Economy and Indian Markets tumbled after the central bank seized control of the beleaguered yes. Lets go straight to our financial correspondent frank but only from wall street that put it into perspective for us how bad is this drop of nearly a 1000 points. A 1000 points sounds huge but of course the dow is also. Very much advance that was coming down from record highs that were almost close to 30000 points so you have to put that in perspective the percentage drop still huge the percentage drop was around 3 and a half percent and thats huge for a huge market like wall street where you have the worlds most valuable companies being traded and these are tanking and the investors are just so nervous the day before there was a huge upsurge because of the success of moderate joe biden in the democratic primaries and now this drop again they just dont know how everything is going to continue youre talking about the coronavirus being more widespread and you know even the traders themselves dont know what will be happening in a few days will they be able to go to work facebook is ordering its employees in the San Francisco bay area including its headquarters to stay at home and i think the fed move to cut rates as massively is that in the end did more to fuel concerns than to allay them. In terms of what we could expect from europe today expect similar volatility that. Similar at the moment it doesnt look quite as drastic as in wall street futures that is the prediction the calculation based on the pretraining which basically happens around the clock side of regular hours shows at the acts of about 2 and a half percent in the negative here people still waiting for possible action by Central Banks or Government Programs and where do are people taking their money or taking it to gold it surged 5 percent this week and the government bonds are going even farther in terms of yields in the negative territory territory we bought in frankfurt thank you. On friday opec ministers and opec counterparts will discuss plans to avoid an all market crash in the face of the coronavirus talks in vienna on thursday opec members agreed to cut Oil Production by 1500000000 barrels in the 2nd quarter of this year the biggest cost since 2008 the barrel price has dropped by a quarter since the coronavirus appeared opec wants its allies in the wider Opec Plus Group led by russia to make up a 3rd of the planned parts. The asian industry is said to take 105000000000. 00 its because of the corona break to demand is down by almost a 5th that kind of decline hasnt been seen since the financial crisis a decade ago singapore chair near port on normal days 200000 passengers bustle through its halls and corridors but for weeks theyve seemed deserted most flights have been cancelled those aircraft which are still arriving and departing are almost empty airport shops and restaurants sales have plunged but the worst affected by the airlines themselves. We could see the effect on revenues exceed 100000000000. 00 round about 19 percent of Global Passenger revenue so this would be a revenue shock equivalent to what was seen in the Global Financial crisis britains flying b. Has become the 1st airline to go down to the coronavirus theyre already ailing domestic carriers couldnt withstand the sudden plunge in passenger numbers and collapsed into insolvency others could soon follow Smaller Airlines in particular dont have the financial reserves to see them through an extended downturn. For decades the Worlds Largest tourism trade fair has been held here in berlin the i t b tracts tens of thousands of industry professionals from all over the world this year though it shared the fate of other big business gatherings organizers canceled the event on short notice due to the coronavirus a huge cost to exhibitors but that didnt stop some determined participants from pressing ahead with their travel plans and organizing their own Networking Events in berlin instead. For years or hell shot from tanzania has been coming to berlin to attend the it. Be the worlds biggest travel trade show the cancellation of this years event came as a blow still the money was spent so he made the trip regardless its very sad everything was planning to do it people to allow flights in accommodation thats where we see all that came in new ways because most of it was nonrefundable. I think we really do rely on i. T. V. A market in germany is very big potential new to it is normally a very good trade fair for us but when the i. T. V. Was cancelled last week Tour Operator acquired our travel decided spontaneously to hold an african travel conference 34. 00 african and european travel agencies agreed to take part to carry on as normal networking a negotiating deals while in berlin the conflation of was a massive shock for the whole industry because it was one of the major market places in african. Troops and trade and of course this marketplace was now not available for us african Tour Operators are bracing themselves in case the corona virus spreads further. We rely on tourism from everywhere in the words of the Global Pandemic will definitely affect all of us. We see intense neeru say we had a few years ago we had the outbreak of ebola in africa that we could see that affected tourism greatly even though it was in intensity or so the coronavirus is already beginning to have serious effects on Global Tourism this year the industry meeting was a much cozier affair but thats little consolation for these african Tour Operators. Thats the spirit of germanys famous middle stand thats the huge sector of small and Medium Sized Companies is also feeling the effects of the coronavirus Many Companies rely on parts and roll materials produced in china by suppliers or their own subsidiaries but supply has dried up and management now has to get creative. Management consultant fang fang is currently pursuing Crisis Management she and her team advise 60 german firms that do business in china theyre in demand right now because kovac 19 is causing havoc fanfan is on her way to a client in a small town in northern germany the shelter group. The Automotive Parts supplier had to halt production at its facility near beijing for 2 weeks. Things are starting up again but with precautions in place. For our. Farm were back up to 50 or 70 percent capacity so far we dont yet know when well reach 100 percent because we cant get the staff back into the factory yet. The drop in revenue and therefore the economic hit amounts to several 1000000 euros. Or. International supply chains are collapsing or at risk you cant make a car if the gearbox isnt available shorters 8 plants in europe have to offset the production halt in china but not for much longer says the optimist frank fang. See. Her is not convinced however. This is not im right it is a drop from it some president it was i cant recall anything like it on our planet in my view weve got through this and i hope we do deal with it sensibly i think well have to think about what needs to change in the future. For the us. For example will there be calls to could tail International Business travel. Fine fine usually travels back and forth between germany and china spending 2 weeks at a time in each country she has a team of certainty in china but for now she cant go and see her colleagues or have family so she communicates with them online from hamburg. Fine fine believes the tough measures imposed by the government in china have been decisive. In order you know a whole lot this is germany and europe theres so much freedom and people dont wear face masks on. The moon shoes moscow its a different mentality and a different way of life. Fish. And thats why the numbers here are rising day by day. And mail the virus is threatening not just the health of individuals but also the health of the Global Economy. Britain and the European Union have been holding the 1st round of post breaks its trade talks several major sticking points have already emerged include competition for policy fishing rights criminal justice and Law Enforcement the 2 sides aiming to strike a deal by the end of this year if they dont britain would have to trade with the block on time set by the World Trade Organization thats the most favorable form of economic cooperation. Thats it for now but over the course of the day we will be taking a look at the story about indias 4th largest private yes bank shares that have plunged more than 70 percent after the central bank seized control and imposed withdraw limits now thats it from me and the business to hear. More Business News features and stories. Websites that support. Business also follow us on social media for your comments on facebook and twitter. With current help stay with us up next for off. Thanks for. What secrets lie behind. Discover new adventures in 360 degree. And explore fascinating World Heritage sites. World heritage 360 get the map now. Good use crime fighters are back africas most successful in radio drama series continues this season the stories focus on hate speech cholera prevention and sustainable local introduction. All of the sos are Available Online and of course you can share and discuss on africas Facebook Page and other social media platforms. Foreign fighters to news down. Here. The fact that the. Greetings from berlin and welcome to arts and culture a blockbuster exhibition marking the 500th anniversary of the death of renaissance master raphael has opened in rome amid coronavirus fears well look into what that may mean for italy and also coming up. In the wake of a historic peace deal between the u. S. Senate Taliban Forces afghan filmmaker roy sadat is determined to tell the stories of women under taliban rule with you. And british choreographer crumb cound takes audiences on an emotional journey in his modern retelling of an ancient epic. Well its the exhibition all of the year in the eternal city. Known as raphael died in rome in 1520. 00 at just 37. 00 and he was one of the most celebrated and prolific artists not just of his age but of all time all the 3 month show is the biggest ever devoted to him but it begins under a shadow due to the corona Virus Outbreak currently sweeping italy. Its one of the most eagerly anticipated art shows of the year this day every day our crew in our museum presold around 70000. 00 tickets before dawes even opened. 120 works by roughly on