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tv   Counting the Cost  Al Jazeera  April 30, 2022 1:30am-1:47am AST

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grand slam titles in a tennis korea that had earned him more than $50000000.00 in line becca fathered a daughter after a casual encounter with russia model and waitress angela irma cova at london restaurant in 1900. 19. the court found that becca kept spending and use deceit to hide what was left more than $3000000.00 in cash and assets. at trial, the jury had heard in his defense that becca had relied on insolvency lawyers signing papers. he hadn't read and failing to understand his response. maurice becca is going to jail. jonah hall, l $20.00, southern crown court london. ah, there's one on through the main stories before we go. and in afghanistan and interior ministry spokesman, as it happened at the honey for sa, have mosque in west cobble. this is the latest in
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a string of attacks during the holy month of ramadan targeting civilians and places of worship. the un has describe the attack as unconscionable, but also worries in afghan journalist who fled the country off to the u. s. withdrawal. as you have relatives of the victims. writing that they've lost family members speaking to the spokesperson for the thought about police chief, he actually constantly told me that the figures could change that they were trying to reach out to race hospitals to find out exactly what has happened. now are other top story, millions of people in south asia are experiencing an extreme heat wave have been power outages in india and pakistan making it even harder to cope with record. shattered by the warn you crane with united nations is trying to negotiate an evacuation of civilians and mary paul, a besieged city that's been reduced to rubble. my russian forces washer is continued shedding. mary pulled his pipe, declaring victory that last week, and an iso fighter behind the beheadings of several hostages has been sentenced to
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life in jail and i'm deliver more heat than light in the water scenario. there's always a pause. to simplify matters, the listening post covering the way the news is covered on al jazeera. i card form like the change author this week, mountains of death in the world's poorest nations. the i m f, and world bank. more many countries are at risk of distress. they're calling for urgent action, so who should foot the bill? upholds dwindling foreign currency reserve. the government limits important turns to citizens abroad to shore up its cash stockpile. is the himalayan nation heading for an economic crisis? ah, it's been a volatile deal hands if it goes through. it would be one of the largest leveraged
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buyouts on record tessa, and they think c o l on mosque as agreed to a quiet twitter for $44000000000.00 a could potentially add a new job to his resume, new age media baron, given millions in one of the largest and most unusual tech acquisitions ever, the board of directors at twitter unanimously agreed to sell the social media company to you. it must help pay for the deal with $25500000000.00 in debt financing by a group of banks lead by morgan stanley. in a press release announcing the deal must talked about improving the platform by getting rid of automated spam accounts and making its algorithms open to the public, although he thinks he can make some money on it. he's buying it for ideological reasons, and i think that's the really important part and all this. and that's ultimately what's scary with musk in control. they fear a return to the unruly spread of disinformation on the platform. so as today,
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a good day or bad day is going to be a bad day for but you know, there's a chance that he takes over and doesn't sort of have quite a sweeping of a reform agenda as he's that he's put forth in over the last couple, it's been a to most us month for twitter. this must take a 9 percent stake in the company, making him its largest shareholder. he was then offered a seat on the board of directors, only to have it abruptly revoked, followed by his cash offer to buy the entire company all within the last few weeks . ultimately, eli musk got what he on it. not only be a twitter user, but to also be its owner. gabriel is condo, i'll just say to new york, but investors have long been concerned about the company's growth. the numbers suggest that twitter is harvey, the most successful social media platform in the marketplace. the company ended
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2021 with a $5000000000.00 revenue frank. same period last year. twitter is not the biggest social platform either. it has more than $200.00. 17000000 davy uses compared with billions for facebook and instagram, where there have been different reactions to the deal from politicians. while the white house said it's concerned about the power of large social media platforms. some republicans welcomed it as an encouraging day for freedom of speech. to discuss all of that. now i'm joined by daniel, i'm from new york. daniel is the managing years. come in 2022 would think that you are in moscow and twitter. so with that said, on twitter, it is vulnerable. i mean, the company's been a white and i couldn't find it. must details in financing, bridges, person the world they had to down deal got done. so, you know, look, i think for mosque wants to buy it out that going to put for this poison pill plan that didn't happen. why do you think it is that the board ended up accepting this
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deal? well, this is, this is a game. a game of thrones, right. and in terms of how it all played out. i mean, ultimately i being much surprised the board with the 9 percent the ones must decided not to join the board. that's where this became hostile. now of course the board did a poison pill, and that just gave them time to change twitter. he talked about obviously making the algorithm open source. beyond that, what sort of changes do you think we're going to see? it will likely grocery subscription more. i mean, they're going to have to ok, subscription model, you know, west constriction terms. what you could say. but is that ultimately improved for man? is musk trading in his task for twitter shares that just puts more pressure and hassle stock and you've seen that play out? yeah, i mean, yeah, he said this is, i guess it's about his ideals and his thoughts on free speech. there are concerns
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in some court is that this could you think that's going to happen? what department twitter is that we could talk about twitter control to all the other controversies. but yet there are the 3rd tier player in social media. she never hear tick, tock or instagram, yet knew the amount of users or can acts as in the us, but just globally on both sides of the aisle. and now could that have an impact on tasa space acts? and that's really been the concern, especially for a company like hassan space act. where must is the heart and lungs of those companies. do you think that regulate his could step in and stop the 15 percent uncertainty in terms of what was st speaking in that the the ultimate does not get done. what must the breakup fee be? great. he decides to walk away the 1000000000 hours. that's pretty small. relative to a deal of the size. so it's just, you know,
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watch out or not just the regulatory, but some of the other issues that he, pal paso, space x ray, when we're talking some bigger success stories be scripted last 2 years. ready may be ever is especially when it comes with katherine spacer. and now it's kind of ok like what could he do to turn this right? there is a must factor. you could see more come on the platform, but then you can also see dependent. we've seen over the last years. i'm sorry, the high thank you very much for your time. will live there from new york. daniel, i'm thank you. i boyle. price is a surging around the world and the central bank raise interest rates to tame inflation. borrowing is becoming more expensive. the world bank on the and say, an estimated $35000000000.00 to official bilateral and private sector lenders this year. government debts and low income countries are expected to exceed 50 percent of gross domestic product. um, from less than 44 percent and 2019 before the pandemic started almost 60 percent of
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all low income countries are in the private sector, lending rose to 11 percent from 3 percent and a combined share of multilateral institutions such as the i, m f and the world bank and the parents club land business, mostly rich weston government, phelps 58 percent from 83 percent. campaign is a calling for debt payments of developing countries to be dropped this year on greg swenson joins us now from london. greg is the founded partner at mentioned bank brig. mcaden. thank you very much your time. so a huge build up of debt, a credit crunch and borrowed average over the just over the last 2 years because of the cobra crisis. but really after the last 14 years since the global financial crisis in 2008 as balance sheets have shifted from the consumer to some degree to corporate. but more importantly from the consumer and corporate balance sheet, including banks to the sovereigns to government jets. so this is unsustainable,
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and i think we'll see some of a lot of potential difficulties in the next couple of years. we're talking today about poor countries. they're not well equipped, they don't have huge reserve power. they go to manage this, especially as is getting more expensive to service, but it's a near term solution. it's not like they're defaulting, or they're just piling on more debt. i think just refinancing is a mistake that they restructure. they work with the, the global fives and the multilateral institutions to work out and restructure, like, especially the u. s. but also many of the western central banks. if we accept then that we're in a debt crisis, who's responsible for that crisis is that the money printing over the last decade of quantitative easing and 0 interest rates? is that too much money is chasing to few assets. so financial assets have been pushed up the percentage of fat financial asset valuation compared to g, b, g, d,
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p, has changed dramatically. and so they have to the lenders in a way have to reach out to the developing countries to get any type of yield. and the developing countries are sometimes foolish to take the money is developing countries or just running through a near term challenge. for example, over borrowing during the cold, the crisis, those were not those brought upon, you know, created by the cold, the crisis in many of the western governments shutting down their own economies. but also encouraging the developing economies to shut down as well. so. so look, i don't think that's something that's a long term defects. so those 2 are the type of restructuring in the near term are, are very important aid and sovereign debt model to more of a long term investment model. that means private capital and to the global development, financial institutions, investing in infrastructure and critical imports for these countries. so it's not
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just loans and aid that need to be rework. it's long term, a fall and remittances, and to try deficit. but while visit is all starting to trickle back in, the economic problems are expected to get worse. fuel and food prices are skyrocketing and himalayan nation is running low on foreign currency and could even run out a less than 7 months or not in limbo reports. now on how the government is trying to sure off stockpiles of cash in this bustling market in downtown, got my do its business as usual. but experts warn behind or be activity. an economic crisis is looming. during the pandemic, the number of tourists fails. the amount of money sent home by nepalese working abroad also dropped significantly. nepalese international bits isn't particularly high, but as ballooning import and high oil prices depleted foreign currency reserves experts warn the country could be headed towards an economic crisis. if the
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government doesn't step up in time, and there are other pressures i'm going to say to guy, there's been a hike and oil prices, a leader of petrol, that cost around $100.00 rupees. now costs $160.00 rupees. nepal central bank has taken action to manage import and increased foreign exchange reserves. that's some kind of the challenge in the economy, particularly because of the import of some of the items. for example, the vehicles and the petroleum products, which are a large portion of the board in nepal. so how we can match a little being exported from here. so every small change in the world on the globe impacts. and that is why we have these you know, these panic situations every now and then, as nepal absorbs economic shops, experts say it needs to act fast to avoid a full blown crisis. from comment it simply is nepal on cost for an economic crisis . not
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a year in economic crisis in the pile. we are treating some pressure on next to another sector balance, but it doesn't mean that we're facing an economic crisis. no bullet. so that's where some measures have to be done to check that the negative punch of it. that's all about remitted remittances they call into netflix banks that could help overcome the crisis. i mean, how realistic is that? actually, you know that this measures that government wants to implement the new, you know, the major, one of the new made that taken by the government ease to tap the savings of it by the dads leaving in advance countries. and they did it as well that local currency dec legit. so that has started abstract on the dashboard
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in advance countries. and that is m all many just that government would like to take in future, but that don't have at least in the short term. that's going to how, how is the limit on non essential import? how is that going to help? how much is that going to help the government definite, bob has introduced majors to ban 10 items of import and few months back. the central bank has tight and created for import and import us to find the ways to import goods. but i think this is one of the major majors that need the emitter may just as well government can take for in the long run, we need to initiate lots of structural reforms to address this issue, but immediate immediate towns. i think putting restrictions on important is the one
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the way that the government can do. all right, thank you very much. i think that will take you straight to our page, which has individual report links and entire episode for you to catch up on that said for this edition of counting the call to i'm kim vanelle and the whole team here. and thanks for joining us. the news on al jazeera is next ah. when the war on ukraine commenced, people in power reached out to inhabitants of arguments. the nation 2nd city, less than 40 miles from the russian border. as the carnage unfolds, a handful of civilians document their experiences as they try to survive and maintain some normality in a reality. turn upside down. a rare glimpse of life under the bonds ukraine. a city under siege on just either where temperatures reach minus 35
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degrees celsius and mountain roads become barely possible. one small, many bus serves as a lifeline for a community facing environmental and cultural change. out is there a well joined the regulars on board techies? shin chi abbas analogies era ah.
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