of starving, and we actually have 2 packs, for example, while goats because we have money to buy informed opinions. the relevance of the security council is diminishing with every passing day. frank assessments politicians with the often in the highest level they've been using games for the policy for the economy service to implement aid and course the rivals inside story on al jazeera, the hello, the nora kyle. this is counting the cost on out to 0. your weekly look at the world of business and economics this week, oil prices, i've had 7 months high off the middle east, pensions intensifies will. this might continue. and how will that affect the global

fight against in place and promising to end years of financial turmoils and pop way has noticed a new currency backed by gold, when it helps stabilize the economy and hit by costs. the boy costs in the middle east of the war on garza mcdonalds is now buying back of it, says wally restaurants, the oil prices are at the highest level in some central banks of keeping a close eye on the markets for the 1st time since october. brent crude, that's the international benchmark. talk $90.00 a barrel last week that preston's the rise in gasoline prices in the us and elsewhere, we're igniting fizz over inflation. the increase in prices as being driven in part by jo political tensions in the middle east supply sharks off to several output costs by opec and its allies also pushing up prices as well. the grids of major oil

producers started slashing production inmates 2022. saudi arabia is leading the latest round of cost bosses not alone. russia to wait on the united arab emirates of also agreed to lower the output from april to june. the goal to level global supply and increase demand. oil prices average around $80.00 a barrel in 2023. the i m f says saudi arabian, these prices to be above that figure to balance is punch. it was a significant spitefully no type of 7th attacks, but eventually price is leveled off again despite the ongoing costs. now oil prices hitting the highest levels in months as around $90.00 a barrel. now some on the list expect oil prices decline even further at around a $100.00 by september. when oil prices go up, so to just the cost of other commodities and that compose a problem both for us present, joe biden as a families struggling to make ends meet. well,

let's get stuck into this with mill atkinson in london, he's an independent energy. i'm less than the full ahead of the oil industry and market division of the international energy agency going to be speaking to you. now . first of all, we do need to mention that the time of recording this program, there's a lot of speculation that there will be an imminent yvonne attack on israel. so how is that family effecting oil prices? the more yes, there is a great deal to do, but it goes speculation. there's no question of that. of, of my personal view of this based on windows based on following me least to politics and extra fact, an oil for many years. this is very unlikely that iran is going to carry out any kind of operation which is so enormous is that it would be considered as an actual iran attempts to play a long game. and well, there's no doubt that so tensions ruptured is not following these really attacking syria. so far. at least we have not actually seen any material reductions

in file supply since the october 7th attacks. and since the most recent, right, you know, for tensions but between the us new route. but how broadly due to physical tensions play into the oil prices. of course it's not just in the middle east, that's a bed. so how many of those to go in the will in ukraine? yes, of course. and initially following the russian invasion of ukraine, we saw a very, very law spiking oil prices, which have a material impact on global economies in twice to 20 to 20. negatively things shuffled out of the true picture stats. we much unable those sanctions have been imposed against russia and we know how to do some price cap. the actual flows of or for russia, of not meant of not dig fine massively. it's not, there's not really a decline very much a tool. they just moved from one market to another. so jim politics is always a factor. the october, the 7th attacks, a usead lead to

a short time spike. we're seeing some tension now we're just playing around with us . so the tension is always there, but it is very, very difficult. one to 5. how much that means in terms of dollars a barrel on the product you. so then of course that brings us to the on the key factor which is supply. and we see solid, the driving production costs to keep the prices high. all the other opec countries following suit savvy right here is leading the cops as you quite rightly suggest a country such as the $90.00 networks. i'm not actually fulfilling all of the breaking of that, so they subscribe to bottom broadly speaking, the opec plus a live study side you rate the, the opec mounted is plus russia. oh, broadly speaking, keeping the nuff oil off the markets which take it into consideration along with the other factors in the market such as demand a supply from other countries means that there's a perception that boil market is tightening. and that's one of the reasons why

we're seeing price is higher than we've been used to. and we've got this. i've got a meeting in june of ministers from opec plus how much leverage to other countries like the us and canada have of these production costs from the countries and sounds that have not really cost, but so what we're expecting in the costs of the point to be quite useful is the production of produced by companies in the united states and will continue to grow . the plan of production from canada will continue to grow as little production from brazil and also from guy on it. and it's expected of my contract to for 2024. i would think that the impact countries will not be pushing more back into the market. initially. they'll want to see how, how strong the prices remain and for how long before they take any, any decisions. so increase price is a palm power result of high oil prices. this is how it's directly affected in one

way to the consumer. this of course spells trouble doesn't. that's in an election yet for the us present. joe biden. yes, and we already have to go back to use to 2022, where we have a very similar situation where the market type in dog popular costs due to the destruction following the russian invasion of ukraine. of course, during 2022, the united states participated with all the countries and a very significant drone down a strategic model. stocks possibly intended to protect us consumers of the pump in the run up to the midst of questions. and you can argue that the steps united states talk did have an impact, but an hour in the presidential election year. and it's pretty obvious that the price is name remained a relatively high and it was possibly even got big i, the us president will come under, you know, most domestic political pressure to do something about that. and that could mean

another reduction in the united states to, to petroleum reserves. it could mean that problematic pressure outside the arranger, and obviously increase that production. so it's a very tricky, political position for vitamins to be in. and, but we have been here before, i just lost a deal briefly if you kind of how the oil price wise is likely to complicate efforts by central banks to cut interest rates. well, in your introduction, you refer to the fact that higher oil prices do feed into and conceal the price of just the oil is such an important component of many industries and 90 inductor like tibits is. so, you know, we have a situation where the phase of the, how the central banks will be looking very closely of commodity prices. and, uh, you know, we're seeing in the united states that there's a very hot jump market. we're seeing a lot of job creation. and i would think that they elevated on morally right the door prizes are going to get into effect in particular cost assumptions. and they

may well postpone any are interest rate reductions that they might have been planning. okay, now atkinson in london, thanks so much for joining us here on counting the cost. thank you. now gold has been on a roll in the past 2 months, hitching a series of records. the precious mouthful, reese mold in $2300.00 per ounce last week. rising by mold and 12 percent this year . now the increase in price is driven mainly by china's gold buying spree. central banks mostly in emerging markets, are also buying up dodge amounts of gold in 2008, some bob way printed the now infamous $100.00 trillion dollar bank note inflation was at 500000000000 percent back then. this is in bob way dollar and lost nearly 80 percent of its value. in response to central bank has introduced a new currency called some public gold or zinc backs by gold. it's aimed at

stabilizing the economy and bringing down prices. but will it what? hi, latasha reports from her, all right. the streets in to say some customers are no longer accepting these installation. it said they waiting for the bobbies new car and see the notes to hit the streets at the end of april. that means people are stuck with cash that will soon become useless. i know this is the last wish day. this is money. get to know what did the good, but no wish of it. towards the end huntington woods, the country central bank governor, says the music notes will be best buy gold reserves and foreign currencies does equal to places and bobby, and dollar that has lost 3 quarters of its value. so far to see a public reaction, the boss and you current is mixed. but some of the bobby's optimistic, i think it's a good news which government has done to kept the inflation rate. i think it's

going to be for the better, but we haven't seen it's in take collision yet. the bobbins have a history of mistrust with a central bank. many people and businesses preferred to use funds harnesses for transactions. for example, fuel is sold in us dollars. the easiest way of trying to build confidence, brooke and confidence, is for government to make sure that's good to cost services. and the goods which i've had up in the market should be paid in a sick and that way and no one will reject it because it is what they say. there's a lot of value weight is going to be accepted. the government says over printing will not be allowed to happen again, but people have heard that before then, bob is tired and see has changed several times over the years. here are some of the original notes from 1980 when the country gained independence from britain and over the years because of the can on big instability anti inflation. the notes have changed in design and in value. these are the ones people are using now,

and these nose will eventually be replaced by the signal when they come in. the 2nd issue, inflation for teams and bobby, and hope to use the car and see what stabilizers or they can do is wait and see if it works. well. several countries have launch new currencies in recent years. venezuela introduced new boulevard notes back in 2021. at the height of a dia, financial crisis, they featured 6 fuel zeroes, intended to ease cash transactions and bookkeeping. the following year nigeria lawrence new narrow bills to help manage inflation and limit money laundering impacts. don is looking through the same, it tends to gradually introduce bank notes to enhance security and prevent counterfeits to well joining us now for a little while and then pop way is prospect chism bar. he's a development economist, i'm senior research for the labor and economic development research institute for

them. bob blake, good to have you with us. the think it was introduced to begin with days ago. it wasn't that don't seem to have had quite a cale takes thoughts with many, appealing not to be ready for the switch. what are your feelings about this new current? say? well, i think i may, it's a, it's, it's a new start. it's a, it from a new got been a and to we all course, that's the optimistic that said it quote, probably as solve the problems of sustainable growth. in my mind, this up line was that z is going to be linked to the reserves of the quote in the united states, the 38. so that's not going to implies is that an increase in is the minus apply? yes, to be supported by an increase in the supply of the board reserves or united states dollars. and the central bank is also a schwab, the nation. that's a from now on there would be no more pass. this is called activities. so this, uh,

a activity is that the central bank is been doing in the past, but that's not true. it is no central a banking effective. it is. so we are hoping that if they're able to show up the top in terms of cutting it big on that and also even on the it, does it say oh, by the facility to the government, i think that to deal to contribute to stability. okay. in terms of what going on a vis a simple boy, 6 attempts to have a functional local currency. why does it keep collapsing? what is it the house of the problem? the problem is been the crony kind pollution. so as in bob good is being affected by a 20 kind pollution and for the grid up parts of the last it to a decade. us in the coney kind position is been as that is out of it. my level of discipline in terms of our all we manage all month,

the system is or there has been unsustainable growth in the money supply, which is closed, excess demand in the economy day by pushing up the price as a basic goods and services. this situation is what makes a lot that recall so much money choosing tool fuel goods. so i think that's been the cox of the meta and a lot in our ability to control a um, sustainable growth in minded stoplight, and also to keep public spending with then that billable resources are the trouble is, isn't my name's and bob wins. don't trust the central bank to have a cannot make discipline. it trusts that it's not going to print, accessed money again. so it seems that most people, reggie, it's sticking to the us dollar. the challenge i think is a city of trust and confidence deficits. not just in the local currency, but also in the key economic institutions. in particular, the central bank, the following is a 5 and for us and fix

a we have suffered from 3 bottles or episodes or 5 and pollution in the past. so i'm guessing that is pick the day, the confidence. so if you're going to be agents in the central bank and also in federal cutting seats, so, so why so this current st. be any different? and i think, you know, the fact that say we are linking money to supply which is and we've just been a major problem and we are leaking that money stoplight. so the reason that we have plenty if that's good to help, to really meet a microsoft like roof and oh, saving to limits. and how much is i'll tell you, provide it to the central bank through the old i dropped a subsidy. so once we're able to deal with that problem of unsustainable growth in minus upload dot, should yale to provide some type it's population in terms of the exchange rate, which has been the kids either or the or the, or the i listen. a lot of people will be watching. i'm waiting to say if that

happens, prospectors and borrow money. thanks indeed for joining us. now, the un says 2 johns civil war has closed. the world's largest displacement crisis since fighting broke out between the army and the time of 2 rapids support forces. nearly a year ago, millions of people have been forced from their homes. most of them shows of food and hundreds of thousands have fled to neighboring countries. malcolm lab reports from a transit comp himself to john's bought a town of rank every morning, selma adam sends her granddaughter to maya to try and sell some of the few remaining items of clothing around many buyers. in this transit camp in south sea town hall familia and people have arrived here and the last, the things to done civil war. most, everyone struggling to get by the sale means to my assignment evil. today. they said fighting and c times capital cost 2 months ago to my father died soon

after arriving here and left selma to look off to her grandchildren the money to use it. and i got a phone kind of to give to one of the con i after we arrived here, we took my son to the hospital. he'd been in for months without any treatment. and he became lost on the johnny of to 5 days in the hospital. he died, i was told to come here and register 6 months ago. there was no market here. many of the traders themselves have to flee the fighting, and they set up stands to sell food to the growing population of displaced people. but everything here is from see don, the onions, a grown, the lentils rice old, transported here, and because of the war, the price is just keep going up. most of the above sounds 2 times economy depends on, you know, the neighbor exposing its will. i'm importing manufactured products here in the town of rank. don't keep taught spring goods from the buddha. all the possessions

of those on the run, such as estimate c times economies contract it by about half since the world. again, that's a problem for those countries. these going to be a continuation of desperation on destitution in votes. so don, us, we're licensed out so that we made rece relapsing back into c one waiting. so to that i sent his article from the end of everybody economy. we test consequences on ability of the government to run a fast, but also in the ability of society to quite exist. many of the displaced people arriving here originate from south suite on the set civil war here. yes. before went to cost team seeking jobs. some come from ponce's south seat on that still have um conflicts. other barriers have suffered consecutive years of flooding. collecting fund i would, the sat is one of the few ways people can afford sued in the comp everyone. his fled one country that's no longer safe on the right then another where it's

increasingly called to survive. the war ongoing. so has caused more than $18000000000.00 in damages to critical infrastructure. the scale of devastation across the strip is unprecedented. a report by the world bank of the united nations says most of the destruction has been to housing units. health centers and education facilities is one of the most detailed financial assessments. yet the report shows the damage equals move ins. 97 percent of economic output from the field supplied west bank and gaza in 2022. the widespread destruction is also complicating 8 delivery, with more than 90 percent of main roads hits and communication significantly limited to consume is protesting against the wall. on garza, with the wallets several western brands are paying the price of boycott. sorry for that to save supports. israel, amongst them mcdonalds, which has been criticized but offering free meals to israeli soldiers. that's his

box boy cuts in the middle east, malaysia, indonesia and from some adult is buying back. it's the 2 year old is really fun sized pulling a slum in global sales on mcdonald says is reached entailed with franchisee alone, yell to baton $225.00 restaurants, but the financial times have not being disclosed out of the west. and brands, including starbucks. i've also seen boy quote campaigns. the chain of coffee shop says lang of thousands of employees the plays and it's bronchitis across them. at least the push as part of a launch, a boy investment and sanctions, or b b s. campaign that targets as well, funds the brands since 2005. well, joining us now from ramallah in the occupied westbank is somebody i'll book me. she's an assistant professor in economics, a busy university, and a campaign, a for the pdf movement. great to have you with us. i'm in the boy coats really impact mcdonald's that much. and will this move to bias is riley prompts his make.

any difference and reports from donaldson know what to then to basically it is say is targets have not been met to they had been the projection of the $5.00 series targets for the 4th quarter, 2023. and they only managed to get to a point 7, a goal today. so and yes, a, the blankets have been an effective. and so it seems at the, the sales and that the news, all the mcdonald's that have been hit, this one, the stock price. and the fact that to independence company with those has moved to a buyback the fence josie in, in italy pretty cents. and in move to try and save the brand a twin and have an inbox in terms of the stopping. the boy bought the,

if mcdonalds, actually it goes all the way through and with the strong and that is a, the market. so, and we do not expect the blankets to stop by the fact that in the parent company, mcdonalds, just bullets back there in the franchise, the in the and then started. okay, a pdf, the movement that you'll come panting with. it's been around for a number of years. how have you seen it growing since, as well as long casa, is, has gone the, substantially, there has been, a lot of the boy called, so either is there any companies or companies that are involved in the supporting subclass of the colonialism. so the campaign has a and has been marketing fine because it's american is in woodbine individuals, the civil society organizations and companies and so on can actually contribute to

in the process of and being colonialism. and the genocide, all gaza has basically exposed business and space. the rest of the world and did them for the poles of the wall, then it companies, the economic markets have been they seem to this ethic than this. and so we have been seeing get a growth in terms of investments from companies in terms of product to the boy called the we're and truck during our program. and to take you to the country capital the hallway, the country foreign minister is hosting the turkish foreign minister. they have been talking about the one, gaza, about the tensions in the region following yvonne's vitalia tree attack on israel on saturday. let's listen in still to, to make these feet up

a new 1st off i would like to a one come his exit. and so you have gone 5 dek on the minister of foreign affairs of the, to public of, to the key, to double how we have held an important meeting in which we have spoken about bilateral relations. and so i think you relation to the say this visit to comes uh within the continued coordination with regards to the general and international issue is this, a visit comes in the time where the region is witnessing, but it's sensitive conditions, especially in light of the recent as can ation, we have had no co trinity to talk in details about such escalation in the region. and we have confirmed what position that the

parties need to de escalate and resort to what action ality and a saw. all the issues of the through a logic and brushing out rather than the force. recently we have conducted extensive communications. we divided what's policies in an attempt to contain such as coalition, of course, quoted the nation between taught and total key is an ongoing thing. and we have value on the i appreciate the positions taken by the republic of to k s, especially with regards to all one of those, the palestinians. we have had the opportunity to discuss the latest developments of the war on guys so that he might need a tarion situation that is accessed sort of baiting, by the day um, um the aggressions against our policy and in brothers and sisters in the west bank hoping that the international community would rise to the occasion and to put an

end to such a war and to put an end to the pro vocations perpetrated by the is that i e r b again, is the palestinians that we would like to stress and emphasize that this issue would continue to remain open and tell us up at a state in the, in the state is established according to international legitimacy on the board. does of 1967 with get as i'm, as it's capital, is journalism, as this capital. we've had an opportunity to coordinate humanitarian aid to the palestinians. uh, also discussions with regards to latest negotiations on c's. fly out and present, not a swap. this is the state of guitar continues its communication and go to the nation with own brotherly and friendly country, is to put an end to such

a humanitarian crisis. we value and appreciate the turkish or role in this stage in our region, not to for the and the own. but at a 9 we believe that it hasn't become imperative today that such a cold donation should be on ongoing basis and must have positive outcomes to everyone. you excellent. see thank you for visiting us. indo hardwood. very happy to meet with you so much for control of the semester, but it will give you it says that all the will impact on the manual near the father that it shows in by select still to claim it the condition post them signed by spoken with the state about kinda shape mama to go central to this office proud of muhammad. there's your husband. is that bad weather? yes. and he always looked at what i would,

would like to express all of the time. so i'm interested sued for your calling on how to fit costs because of course, cuts out of the turkish relations are on the higher level side. let me just especially go to the nation. and so the deputy is very important between the 2 countries. the data colleagues that relations with the so the width of katara, the friendship relations between the 2 peoples is of paramount importance. and of course, it has been an advantage to high levels over the past year. is out of cause that is a very strong correlation between our present i missed it, added to gun um b. his heim is the middle of katara. we have also laid the institution and foundation for our relationship. and as you know, we have conducted our previous meeting here in katara and the next meeting will be

held in tokyo with regards to the supreme strategic committee between the 2 countries. and of course a, we have an objective of a trade exchange of $5000000000.00 and we would like to deepen a lot of collaboration in the sectors of tourism and energy. during the past of the month of february and 13, we have a grid on economic and depart. they'll show that this would accelerate to meet our objectives on the today. the 6th, uh, also with the decision to start the negotiations between turn key and the g. c. c, on the free trade would contribute. i want relationship with the state of cutoff in order to improve and promote the institution of relationship is with the d. c. c. what would continue negotiations until with member of states.