tv Fighting Insectageddon Al Jazeera June 5, 2018 1:33am-2:01am +03
a streamlining of interest rate tools to to focus on having one one single main right has that done anything to reassure investors it's done say has helped that the three hundred basis point rate hike has helped having interest rates up at around sixteen percent has helped but also for a number of years now the central bank has been trying to raise rates but not tell the electorate in turkey that they're raising rates to try and keep the president happy and this repo rate which was sitting at around eight percent and is now being raised to sixteen. that's is a sign that finally orthodoxy seems to have won and in the long run that will work it worked for russia when they did similar things a few years ago russian interests are much lower now than russian inflation much lower now than turkey so orthodoxy does win in the end and it looks like zero to one has as given up he's backed away the central banks being allowed to do what
orthodox people would suggest and what the market wanted to see what does that mean for turks though when they when they're getting paid continue to get paid in lira and their currency is seemingly losing value on the international markets it's i mean it's tough i mean it's interesting that a couple of years ago or once suggested the turks should save in lira or gold and gold has actually been a relatively good store of value for turkish people real estate quite a good way to try and protect your savings but but the lira self hasn't been great so you're going to see inflation rise that's going to hurt people usually hurts the poorest we think we're going to see growth slowed at best suit to three percent this year and the population's growing one to two so per capita of us really not much of a gain these are these are tough times for turks no good to speak with you charles robinson joining us there in london thanks from us to. now trade relations between
the u.s. and key allies have taken a giant step backwards to trump and ministration is putting tariffs on steel and alum union imports from the european union canada and mexico they're threatening to retaliate with tariffs of their own as fears grow over global trade war kimberly how could reports from washington. u.s. commerce secretary wilbur ross made the announcement from paris where he was attending an annual trade forum. tariffs of twenty five percent on steel and ten percent on aluminum imports into the united states from canada mexico and the european union all go into effect friday the move potentially sets in motion a trade war with some of the united states' most important allies a claim the u.s. commerce secretary brushed off everybody has a remeron and very firmly every country with others whose loathing weird about.
it will get over it in due course in brussels the head of the european commission called it a bad day for world trade promising counter measures that could include retaliate tory tariffs u.s. goods into the e.u. on everything from blue jeans to motorcycles what they can do able to do exactly. the same it's totally. that it come to look through measures when it comes to its. credit france's jr trade minister promised a similar response suggesting the u.s. president may be misinformed. that comes a point when one needs to look at the figures and i'm surprised that maybe president trump stuff haven't shown him how much those european companies have invested in the united states created jobs that to assemble and produce the now
those u.s. jobs could be at risk just as president donald trump seeks to fulfill one of his top campaign promises to protect the jobs of his supporters in america's steel and aluminum manufacturing sectors it's not just international partners criticizing donald trump's decision to oppose steel and aluminum tariffs on top of. u.s. allies domestically members of president trump's own republican party are also criticizing him fear of the effects of a global trade war despite white house efforts to downplay those concerns the traceback has also broken out between the world's biggest economy and a landlocked east african country over hand me downs a multi-million dollar businesses grown up around selling clothes donated in charity shops in the u.s. thousands of miles to africa critics say africa cannot hope to develop a domestic textile industry when it's flooded with cheap imports so rwanda has
imposed tariffs and wants to phase out imports of the secondhand clothes the u.s. is responding with a threat to pull rwanda's judy free access to some of its products and one is president paul kagame may is not backing down at a concert you is a nairobi based investment adviser and chief executive of rich management he says africa has become a dumping ground for cheap goods from other countries. this is an attempt by africa to get leverage on the value chain it's an attempt to develop industry it's an attempt to industrialize and essential ie you know we've seen all our industries hollowed out one of the classic examples is actually textile manufacturing which is now being addressed in east africa and i think it's important that we look at things holistically and if we're going to look at it holistically we can't talk about the industrialization of africa on one hand and then be dumping africa with all kinds of of goods and in this case in the case of used clothes our oil prices
have been falling this week with the world's biggest producers looking at a change in strategy reports say saudi arabia and russia may increase oil production last year was about reducing the amount of oil in the world's energy markets so now any proposal to boost output would mean a major reset that's going to affect crude prices and investors will be waiting until june twenty second when opec members meet in vienna to see what happens with joining us now from zurich is cornelia my economist and independent energy analyst good to speak with you again a cornea so we're looking at a major rethink then in the strategy of oil producers. well i don't think we're looking at a major rethink but we're looking at them addressing the issue that we have over the last year lost about a million barrels how to finish where we're going to lose just a few hundred thousand out of iran thanks to sanctions so i think they're looking
at it they say compliance of the opec non-o. pick agreement is one hundred eighty three percent which russian and that you mr alexander morvak sort of equate it with being at about one million barrels so did going to say ok there is some headroom and they're going to put some in but it's not going to be that easy because within opec you know when one country ups production and others might feel slighted because you know you have a very delicate balance of production quotas so what's behind all of this then do you think i mean is it is it part of that part of it just that they were too good at. wanting to raise prices before and now we're seeing the effects of that now i think what i've done is staff saying it was not a price thing it was getting rid of that overhang that was it was just a glass of oil in the market that wasn't an overhang of off of inventor reese and the agreement of corporation was the design to take out that overhang and put it
back to a five year average for o.e.c.d. countries they have a chieftainess mission accomplished now what's happened in the meantime is steady. obviously the sanctions against iran it's venezuela falling off a cliff it's also nigeria and libya having their own internal problem so a lot of countries actually are producing less than they were expected to produce are exploiting less and we're expected to produce them and i expect it to produce even less so so so now they're sort of over achieved and now they need to address overachievement and how does the united states figure into all of this. and particularly the shale oil producers there well actually it figures same quite a lot because the us is set to overtake a secular to overtake russia as the world's largest produce a this this year. russia is currently the largest producer so on one hand we
will see more exports of of the oil from of the oil from the us especially shale oil we had china for instance is never important would end there slated to import this month from the u.s. but. mind you dress another thing also if you will russia and if you saudi arabia you know the two really big producers in saudi arabia really the only real swing producer and then obviously you want that agreement of corp because you need to get a counterbalance to this new emerging american. powerhouse of exporting crude could speak of your cornea my joining us there from zurich thank you has them have finally greece is preparing to exit its third international bailout this summer the country signed up for the largest sovereign loan in history to prevent bankruptcy greece's latest bailout ends in august but
the austerity measures will continue for at least two more years and workers in greece are unhappy they've seen their incomes for by fifteen percent during this eight year economic crisis is johnson hapless reports now from athens. then. several times a week a leg some of those money might be these things for his son he earns about twenty dollars an hour four times as much as in his regular part time job as a shoe salesman with two sources of income he helps support the household he grew up in but he cannot invest in his own future five years ago he unrolled in a robotics degree course at kalki the polytechnic two hours' drive from athens but he can't afford to rent an apartment there so his studies are progressing slowly. or at the present rate it'll take me another ten years to graduate i'll be thirty five and at that age it'll be really difficult to find a job in my area of expertise he's one of the many victims of salary cuts averaging
fifteen percent during the economic crisis creditors demanded cuts to make the economy more competitive the official minimum wage is now six hundred ninety dollars a month before tax but experts say the salary cuts went affective in the absence of other reforms. while salary cuts should have led to a cut in the prices of products and services they didn't because part of markets are to a great extent monopolies are all the companies we have a large number of multinationals operating in this country which didn't lower the cost of their products they benefited from the salary cuts but they didn't become more competitive you half of all new jobs a part time or seasonal and that still leaves twenty percent of workers unemployed around a million greeks and there is so much underemployment the labor institute greece's leading employment think tank says the real jobless total is closer to twenty seven percent but the worst effect of the crisis is loss of income the dramatic drop in incomes has created
a class of working for the risk of poverty has doubled during the crisis to thirty five percent of the population that's a rate unmatched anywhere in western europe and it is twice as high among working age adults and the children who depend on them as a says. pensioners many greeks such as me might do this no longer see the point in learning skills or higher education greeks are forced to accept jobs they're overqualified for which leads many to go broad the labor institute says government leaders need new policies to encourage entrepreneurship and employment entice companies to lower their prices and for the cost of labor to fall without serious reforms like these many greeks fear for all their education they'll likely remain the buskers of europe and that's our show for this week remember get in touch with us by tweeting me at has him and use the hash tag a.j.c. to see when you do or drop us an e-mail kept in the cost at al-jazeera dot net is our address is more for you online as well as you know dot com slash. i'll take you
straight to our page which has individual sports links and entire episodes for you to catch up on. that's it for this edition of counting the cost and has of sega from the whole team here thanks for joining us the news our knowledge is here is next. such short. sell. stocks slightly sees itself be a russian president must. have good.
sex life. thanks to the selfless sale to the media. like kids june on al-jazeera. with media trends constantly changing the listening post continues to analyze how the news is covered it's the most widely viewed sporting event on the planet as russia prepares to host the football world cup we'll bring you stories from on and off the field from afghanistan one o one east investigates why so few girls are in school despite billions of dollars of donations one year since the imposed blockade of qatada al-jazeera examines the political economic and human impact of the crisis unfold provoking documentaries witness brings world issues into focus for personal stories june on al-jazeera. in afghanistan billions of dollars of international aid have been donated to girls'
education but where has the money gone when he meets girls desperate to learn and asks why is the system failing them on al-jazeera. jordan's prime minister buckles under the pressure and resigns following days of anti-government protests over austerity. and i'm citizen this is al jazeera live from london also coming up dozens of people are killed as a volcano erupts in guatemala thousands more are forced to flee their homes donald
trump takes to twitter to lash out at the russia probe insisting he has a right to pardon himself and discovering the dead hundreds of bodies are still being recovered in the iraqi city of mosul almost a year after its recapture from myself. the summit in jordan where king abdullah has appointed a full not world bank economist as prime minister after house resigned following huge protests have been demonstrations in amman and other parts of the country since last week against the i.m.f. backed austerity measures jordanians are grappling with high unemployment and new tax hikes coupled with the abolition of bread subsidies it all became too much on the huckster reports. he was the man behind jordan's recent proposed tax hike and a stare to measures that led to six days a. protests now prime minister hani al muki is out. of the past week
nightly rallies the largest in five years of intensified protesters marched by his residence on sunday chanting we are coming animal but if the government must step down the tax law must be withdrawn these demands and we don't want the next government to implement the same policies either. jordanians are furious at his plan raising employees taxes by as much as five percent would squeeze them financially to the brink the capital amman is ranked as the arab world's most expensive city there's high unemployment in prices of basic goods rocketing jordan's a dependent economy has been struggling with the large influx of syrian refugees arriving in recent years added to this previous financial supporters like the u.a.e. u.s. and saudi arabia have dramatically cut their donations the hashemite kingdom is thirty seven billion dollars in debt that equipment from ninety five percent of its gross domestic product the government secured more than seven hundred million in
credit from the international monetary fund three years ago the loan was intended to help growth and lower public debt the i.m.f. also imposed tough fiscal conditions including hikes in general sales tax and in bread subsidies a staple of the poor but opponents warn these measures hurt poor and middle class families analysts say there is a general lack of trust now people are looking for a paradigm shift they're not looking for changing faces like you know. second one prime minister and getting another one looking for a change in the policies of the policies have been determined to lead to the daily lives of the people and in jordan and they're looking for changes in these in these policies the king abdullah has named. a former world bank economist and the previous education minister to take over as prime minister but it's not clear if these changes will be enough to calm the rest. is there. rescuers in
guatemala are searching for survivors after sunday's volcanic eruption that killed at least thirty three people emergency crews are working to find people who have been trapped in their homes at least one village has been buried in love and thousands of people have been forced to evacuate is the most violent eruption of the four a go volcano in more than forty years and the dust cloud is now threatening the capital guatemala city just thirty kilometers away david mercer has more from guatemala city. well rescue operations in water more have been continuing since first light they were suspended last night because of containing volcanic activity and threat of rain now the skies over guatemala for this part of one of them are quite clear right now there's not a lot of smoke coming from the vault and there hasn't been any rain and this is good news for rescuers they're going to be trying to get to the town of el go there are forming community on the slopes of above can't go and this is where there are believed to be some people who might still be trapped in houses after
a flow of mud mixed together with lava the process over their houses and rescuers going to be trying to get in there up until now that village has cut off now there are more than three thousand people who been evacuated from their homes and dozens of people have been injured as well as those killed schools have been closed in three different departments of those departments are also on red alert at this point in time a major highway that connects the city event which is the closest enclosed after a ladder floated over top of that in a bridge was damaged that we're going to wait to see when that actually reopens but the real focus right now is on trying to find any survivors and trying to recover bodies. at least seven people have been killed in a suicide bombing in afghanistan's capital kabul it happened to thousands of where the just scholars were leaving
a gathering at the city's polytechnic university they are now city korea against the war in afghanistan and the taliban to accept the government's peace offer no group has yet said it was behind the attack jennifer glass is in kabul and has more . the bomb went off as hundreds thousands of islamic scholars and clerics were finishing their meeting in what we call the jirga tent the loya jirga tent to really a a conference hall in kabul as they were exit a after a meeting where they condemned of the ongoing war as an islamic and condemn suicide bombers a bomber went off at the gate the entrance to that gathering where more than two thousand five hundred religious leaders had gotten together to try and persuade the taliban to come to the peace table to accept what the president calls an unconditional offer for peace talks now and just as we heard news of that bombing another bombing in town a smaller bomb went off in
a truckload of watermelon that injured three civilians it seems that over and over again we hear these stories we are reporting these stories that either the taliban or i saw are setting off bombs or attacks here in the afghan capital and around the country really a sign of how difficult it is for the afghan government to maintain security at the taleban a growing influence around the country despite fifteen thousand u.s. and nato troops as well as a large force of afghan security forces fighting very hard and losing men all over the country it's been a brutal fighting season and the attacks continue here in the afghan capital. donald trump's latest comments on twitter about the russia probe has triggered outrage from democrats on constitutional lawyer this drama tweeted he has the right to pardon himself from the investigation his twitter post follows on from comments made by his lawyer rudy giuliani who said the president probably have the power to
do so let's bring to our white house correspondent kimberly kimberly it smells a bit fishy that the president can pardon himself is. it's certainly a legal argument that his team is trying to make and so we see the president tweeting the smore name here monday morning in washington in a series of tweets but it's this one and one other that you point out that are really catching attention and it is a continuation of an argument made by the president of advisor and lawyer of the former new york mayor rudolph giuliani the president saying in his treatise been stated by numerous legal scholars i have the absolute right to pardon myself but why would i do that when i have done nothing wrong well this is an argument a legal argument i can tell you that when it comes to self pardoning the justice department has weighed in on this before in fact back in one nine hundred seventy four under the administration of richard nixon who of course resigned over
a political corruption scandal the justice department said no one can judge their own case the president cannot pardon himself so again this is an argument being made in a wider debate but certainly there are many that disagree with the president when it comes to whether he has this ability to self pardon and maybe even fish here he's no questioning indeed whether the whole count russia probe is constitutionally itself. well it's it certainly is constitutional to investigate we've seen it before certainly under the us president bill clinton there was an investigation into a real estate deal that ultimately did end up with bill clinton being impeached for lying under oath and a very similar process of a different topic is taking place right now with the russian probe whether or not there wasn't fact russian interference in the twenty sixteen u.s. election and whether the trump presidential campaign colluded with russia now certainly this president has denied all of that but it can be investigated and it's
not unconstitutional now certainly there are equal branches of government in the united states this is the executive branch behind me the white house there's also the legislative branch the congress they are equal they check one another and there is no question that in fact this is not unconstitutional in fact there is every right to investigate anything that needs to be investigated in the united states great authority accumulated can you how can the white house. hundreds of bodies have been found in the iraqi city of mosul almost a year after it was retaken from i thought they were buried in ruins and along the banks the tigre and discovered during a new search effort chance traffic reports from baghdad. it's been eleven months since iraqi prime minister hydrilla body declared victory over eisel in mosul much of what was iraq's second biggest city lies in ruins the fighting was described as
the most intense urban combat since world war two. the search for bodies goes on civil defense search and rescue teams are concentrating on areas close to the banks of the river tigris it was here that the iraqi government forces supported by international coalition airstrikes flushed out and killed most of the last remaining leisel fighters in the city i saw bodies that were covered around seven hundred these bodies were all of i still that used to hide in these houses are obstacles and clearing these bodies out of the unexploded munitions hidden bombs explosive vests and rigged houses with i.e.d. as we are trying our best to overcome these obstacles for. the remains of eisel fighters are being found close to dead civilians who were only able to escape it's estimated around ten thousand civilians were killed in a bit of a province in the battle against isis most of them in western mosul.
we have been pulling up bodies for eight days already from near the river tigris plans within this quarter alone we have found two hundred bodies on the first day four hundred on the second day and around them hundred on the third we have difficulty getting heavy machinery aside all city because of the normal eloise. more than two million iraqis remain displaced across the country including approximately seven hundred. i'm from mosul the rebuilding of the city has yet to start families like these faces many more months if not years living in camps the delay is primarily because of questions about who will foot the bill at the donor's conference in kuwait in february iraq allies for help with the eighty eight billion dollars cost of rebuilding this country including mosul but only.