to do this because the philosophy is to prevent but also the rules will pass in february and while twitter has asked for the 3 month extension, google says it will comply x. what say these digital media guidelines have consequences outside india as was because how this plays out in court is likely to set a precedent in other countries where big check and government have fought on issues of privacy. surveillance and national security documents are just new delhi aah! quick look at the headlines before we go. germany is officially admitted and apologize for its role in genocide in namibia. this is the 1st time the government referred to this social, the herero anom, a tribes people. as a genocide around 75000 people were killed by german soldiers in the 4 years up to

19 o 8. following a revolt against the seizure of the land. germany formula says it will find more than a $1000000000.00 worth of development projects in the country. besides the whole, to deny that we will now officially call these events what they were from today's perspective, a genocide to come in doing so. we also acknowledging our historical responsibility in a light of germany's historical and moral responsibility. we will ask namibia and the descendants of the victims to forgiveness. when that scene is this, i'm good minds and as a gesture of recognition of the incalculable suffering that was inflicted on the victim, we want to support and may be the descendants of the victims with a substantial program amounting to 1100000000 years. and this will focus in particular on rebuilding and development lab, and then around 400000 people have fled to

a city in the eastern democratic republic of congo. after warnings, a volcano could erupt again as accusation orders have been issued for certain areas in the city of carmel, which lies just south of mountain near congo. several people are reportedly killed by the flow of lava and others in accidents. in the ceiling, panic, the united nations refugee agencies expressing growing concern about the crisis. and if you appears more than 10 gray region, reports that hundreds of refugees have been taken from displacement camps by both ethiopian and retrain. soldiers. schools have been spent either as rights groups, a warring sides of destroy those which been used as military bases. thousands of people have been killed and around. 2000000 displaced after fighting between local and federal forces broke out in november. those are the headlines this hour and that's it for myself and the team hearing on the for now we will see tomorrow, counting, the cost is next. the latest news, as it breaks over half of the coal lying by separatists,

is we labeled as washing coal and transported out to markets in asia and europe with detailed coverage before inter withdrawal is underway and will be completed after the may 1st deadline from around the world, these demonstrates would change your mind, the british government, and then any new laws designed to cattail people's rights of assembly damage. the country's democracy. i use hello, i'm adrian again. this is counting the cost on, i'm just here, you're look at the world of business. i think it all makes this week, india, the 6, the biggest economy and the pharmacy to the world's pump behind the numbers. the cracks the pandemic has laid bare its economic frailties despite its vaccine diplomacy and hopes that it would lies to become a want to china. but india is rising,

but it isn't afraid of flexing it's muscle. not happy with tech's production constraints, new delhi, as on the hunt, some new supplies, and financing, the destruction of forest, china, pause, billions overseas was saving and expanding its own storage. ah, the fastest growing economy has been gearing up to overtake its former colonial power britain to rank as the world's 5th biggest. on somebody level, the state was a huge matter of pride for india, which is part of the g 20 rich club, a rising power. the west's counter, the neighboring china, india is the pharmacy to the world and it was going to supply much needed vaccines to the world health organization from baton to power g y vaccines were a tool for diplomacy, but a deadly 2nd corrode of iris wave is revealed cracks in india's growth story, as family is desperately sought, hospital beds, medicines and oxygen. government hubris was found wanting as a percentage of g d,

p. it has the 2nd lowest spend on health care amongst g 20 nations. and this is how the data over the last 2 decades stacks up. now, this is india and it's 2 neighbors packets on a bangladesh. it clearly shows that it's out spending its neighbors as a percentage of gdp. but if you bring in china another nation with a 1000000000 plus population and vastly big economy, you can see that india is well below china as spending now bring in the world. and both countries spending less than half of the world average. now india was in the throes of a prolong, slow down. even before the pandemic struck more than 230000000 people sell it to poverty last year. and the poorest 20 percent of households saw their entire income vanish in april and may as business ground to a halt. but despite that prime minister in ramadi managed to address election rallies and march 150000000 voters to the polls. those rallies,

including religious gatherings, of thought, have contributed to a record number of corona virus, deaths. much of modi's failure and economics from scrapping widely held currency notes to the bungalow. roll out of tax changes have largely been forgiven. bus rocketing coven cases and deaths may finally be denting his popularity. people have taken a social media to question billions, being spent on a sprawling new parliament complex and changes to central delhi. the 2700000000 dollar vanity project should be ready for 2024, just as moody faces reelection for a 3rd time time for some analysis, i'm delighted to say johnny, guess my skype from singapore, ishall and shaw senior india economist at capital economics. welcome to counting the cost permit us moody, last year was quick to call for a lockdown. less so the 2nd time around. and yet much of the heavy lifting of getting on top of this crisis has been left to state governments. what do you think

of his leadership? well, i think the, i think the economic toll from last year it suddenly played a role in terms of, in terms of how the government approached the surgeon virus cases this year. they were, i think another key difference was, is a little bit more knowledge about the virus. so it was probably felt that state governments could react to virus situation with more localized lockdown. and that would require more sort of leadership from the, from the state level rather than from the relevant from the central government. so i think all of that probably meant 2 things. one is that restrictions were much more localized and targeted. the downside, i guess you could argue is that they took longer to be impose than

may have been ideal, which has meant that well initially set the virus cases jump very far. but there are at least signs now that the legislature is being brought on the control. india is one of the world's biggest economies. for the pandemic. i think we'd agree, has really shown the cracks. is there going to be a reckoning? is that going to have to be more spending on health care? an infrastructure? does india have the financial head room for another massive budget like the one we saw in february? so in principle, yes, i mean, the risk of a public debt crisis in india is to be honest, it's quite low. if you look at to look clearly at public at levels, then i mean they are very high about 90 percent of g d p, which is i even buy emerging market standards, especially i buy education. but most of that is held with india itself.

most of it is denominated in local currency, so if the government felt that it was in the interests you know, supporting the economy to unleash the fiscal stimulus, then i don't necessarily see any, any particularly big constraints. and i think the trust of the markets as well if markets felt that the stimulus was going to be a want to, you know, supports households and support thumbs to get through this crisis. whether we actually see that materialize, i think, is a slightly a slightly separate question. you know, the virus cases are now beginning to drop because i sharply that has coincided with a turning point. and i should say in terms of some of the activity indicators the we look at. so the might be a sense that actually the worst is now over,

in which case the need for a very, very big stimulus package, or an additional stimulus package. maybe less press now than it was, you know, you know, a month ago. what does that, the real time data tell us about the state of india's economy right now, and the lack of vaccines going to hold back the recovery. so the real time data, the 1st thing that they show, one thing that really stands out is that the, the impact of from the latest wave of virus cases. but it was the timing of restrictions much more limited than last year. so if you look at things like the ability things like use of public transport, even things like traffic congestion, that was, they were dropped, but we need to the extent that they did to it last year. national locked down, one of the point that stands out is that the restriction just how much more

targeted. so if you look at an electricity demand, for example, in india, it's held up much better this year than it did last year. now that's because 40 percent of electricity comes from comes from industry, which is largely in kept open even amongst the latest surgeon virus cases. so the economic impact has been much less severe. now the cases are, begins drop. we are beginning to see some turning points in those in those data. so there's been a slight pick up, for example, in the use of public transport, things like railway passenger numbers of edge congestion levels seem to be acting upside as well. so what that suggests to me is the voluntary social distancing maybe the problem. now that it was a couple of weeks ago. but what i think it's interesting is what happens from here

. lessons learned about rapid reopening from last year and then subsequent surgeon virus cases, i think the state governments would be much more cautious in their approach to reopening economy. so although the, the economic damages been much less severe than last year, i think that the recovery might prove to be a bit more gradual is what shall i really go to talk to you many thanks today for being with us. thank you. well, let's stay with india and the theme that being a rising power month or so before the 2nd cobit wave. india was flexing its economic mites. india's oil minister and drug product called oil purchases, a weapon for his country. and when opec extended the production concent april india, refiners ready plans to cut imports from saudi arabia by about a quarter, according to royces, brought on, understandably, sees high oil prices as a threat to india economic recovery. the international energy agencies forecast

that india is consumption will double, and it's oil import bill billy triple from 2019 level stable than $250000000000.00 by 2040. so what's going on as the 2nd biggest asian in port arthur china is india using it economy clouds to diversify its oil supply. and joining us now via skype from london is which mallets and cross energy analyst at energy aspects could tell . with a set richard, it's totally understandable. i suppose that india feels it's economic growth. could be crypt by rising oil prices. it's anger seems to be aimed particularly at saudi arabia. how easy would it be for india to see other sources of oil? well, certainly we've seen it in the already look, try and diversify its being, buying more oil in particular from the u. s. in recent years. and it will look at region for latin america and africa to give it to mix and

a range of options that apply to reduce its dependence on the key middle east and export it. but i think given how much india needs to it, import and given where it's located to geographically it be very, very difficult for it to, you know, reduce or cut entirely its reliance on, you know, even one of the big, at least in countries, less low. all of them, so it's, it's a kind of partial effort. and it's, i think as much about seeking and trying to encourage saudi arabia no peck to do what they can to increase supply and keep prices under control. and while india is not happy with saudi arabia at the moment, saudi arabia is investing in indian oil refineries. we, yes, i think for, for saudi arabia, this is a long standing strategy, not to india, but in all of its major markets in asia. it knows that by putting the money into refinery projects, it can lock in long term demand for its crude export,

and it can give itself a competitive advantage. one of the things that saudi arabia doesn't want to do is compete with the royal exported by discounting price. instead, it wants to be reliable, and it wants to have secure long term relationships. so kind of wants to always be there a price, you know, a supplier that you pay a premium for. i'm having stakes in refinery to help fit. maintain that position. is india bluffing here or have there been genuine efforts to diversify and find other sources of hydrocarbons? i think some of this is certainly more rhetoric than reality. we've seen some statements in recent months that would imply a dramatic shift away from saudi in middle east and oil. i think what we're seeing in reality in the numbers is once you take account of the short. ready term demand disruptions and import disruption caused obesity by the crisis going on in india, but also the hurricanes and so on. we're not seeing that dramatic shift in the

actual volume slowing. so i think some of this is just about trying to get these statements out. and influence saudi arabia stinking opec's thinking we've got the group meeting regularly every month in the area. i will not in the eventually but making decisions about how much supply to produce. and i think the big goal here for india is to encourage o packs to put more. ready barrels in into the market, so the price increases are kept under control. or if you are, you know, ideally for india, price is actually full. but of course, just to muddy the waters further. iran, a long time supply of oil to india could come back online if a deal is reached in vienna over its, its euclid additions. exactly. and those, those are meetings happening in vienna right now. and a deal could bring up a 1000000 and a half additional barrel of iranian exports to the market pretty quickly. you know,

3 to 6 months we think. and a lot of that supply and maybe half a 1000000 barrels a day would probably go between dea, that's how much it was importing probably around in the past. so indian refiners have been limiting their purchase to go back commitment on the term contract to buy from other middle east and country to leave space in the hopes that they're going to be competitively priced. iranian oil are available in the 2nd. i hope that's a bit of a gamble because they can only actually balis rainy oil, if and when us sanctions are ease. and while the talk seem to be going well, we haven't got to deal yet. and even when we get to deal. ready announced that will be a delay before sanctions relief would kick in. so the refiners hoping that's going to come quickly or opec into saudi arabia. they are watching that and they know that it influences that strategy. and it would create more competition in effect now this year or in 2022, depending on when exactly rain, you know, we'll stop coming back. richard. it's been great talking to you on counting the

cost many thanks. indeed for being with us. i, in the us, the political battle continues of president joe by mr. sessions raised the minimum wage last month's pipe and signed an executive order. little increase it to $15.00 an hour for federal contractors, making it part of his corona virus release package. but his opponent said that his policies a crippling attempts to revive the economy, el zeros, my cannot reports for washington. a d c restaurant set to reopen. like thousands of small businesses around the country attempting to reset in the wake of the pen demik the minimum wages one such as the de la santee, hoping for new beginnings as manage off a restaurant recently reopened off to being shut and then sold as cobra. 900 raged, i'm very excited. i like being with people, but some are struggling to find enough workers to get the businesses going. and the

drop in employment figures last month was seized on as evidence that the increased benefit payments removed an incentive to seek employment. democrats insisted on extending increased unemployment benefits to september of this year. and now we're seeing the result. report suggests that many people are declining to return to work because they can make more money staying home. and drawing unemployment benefits. the argument in congress to that president by didn't, is using the pandemic to force through his state to desire to increase the minimum wage nationwide. i think about sending things to my desk. let's raise the minimum wage to $15.00. no one, no one working 40 hours away. no one working 40 hours we should live below the poverty line. b, u. s. senate rejected an attempt to make

a permanent $15.00 minimum. as part of the pandemic really full, a democrats crossing the floor to join republican members in voting against the motion introduced by independence sen than he saunders. so let us be clear, and i don't think there's any debate about this. there ain't nobody in america, not in the north to south east or the west who can survive on $7.25 in our federal minimum age. you can't make it 9 bucks. you can't make it on $12.00 an hour. that federal wage minimum was introduced by president obama in 2009. it only changed when president biden signed an executive order, raising the hourly wage paid to federal contractors. a drop in the ocean compared to instituting $15.00 an hour on a nationwide basis. the white house insists the pandemic benefits and the why the

minimum wage issue are not connected. it also maintains that pandemic benefits are not the cause of dropping employment rates. insisting that many are still reluctant to risk public exposure and saying that the process of reinstating a stable workforce will take time whatever the reason there's no rush of job seekers in the restaurant business at least say a little bit of a slow trickle. certainly, you know, it's probably always kind of difficult to hire and in the restaurant industry, but probably more difficult. now we're probably considering hiring people that we might not have considered hiring in the past. the year last worked as a shift in this hotel before being sent home in march last year, increased unemployment benefits. she received matched her previous wage of roughly $15.00 an hour and she is adamant people should not accept anything less. a

terrible argument that i think that people are saying that you shouldn't, you know, you should be able, you should want to go back to work. but it's also saying you should go back to work with less and nobody should have the cell for that. underlying the debate about a minimum wage is the burning hope that things will get better. at the time of empty chairs and empty tables is past. one of the positive side effects of the pandemic has been the 4 in carbon emissions. 6.4 percent decline or 2300000000 tons is roughly double japan's yearly emissions against the backdrop. it may surprise you that the rate at which forests have been lost in asia, africa, and latin america has been pretty alarming. forest loss alerts had increased by 77 percent compared to the average from 2017 to 2019, according to w, w. f. germany. and despite china's ambitions to be

a leader in the fight for climate change, its banks with a 2nd largest finance years of companies involved in b for a station between january 2016 and april 2020 chinese financial institutions provided about $15000000000.00 in loans that puts forests at risk chinese financial institutions a distant 2nd though to brazilian banks, which provided more than $50000000000.00. well, joining us now, the vice guy from london is tom pick and campaign director for forrest and finance of the rain forest action network, which compiled those numbers. tom good tammy with us. so china's president, cheese and ping is played up. the country's role in sustainable development, yet, as we were hearing a moment ago, the country's banks are providing funding. the companies that put forests at risk, what's going on? well, like most countries, china is balancing a range of priorities, including security, objective, economic development, and global commitments on climate and by diversity. while these are caused complex

issues, there is also a simple fact the chinese bank and be in national banking sector as a whole. continue to drive climate change before a station and right violation by lending indiscriminately at the clients in the agri, business and life. so connected to the core station and yet china is increasing and yet china is increasing its own stock. it's for a stock by walk 4 and a half 1000000000 cubic meters were intends to buy the year 2030. so is it a goodie or a battery here? well, china is made some impressive gains in terms of domestic reforestation and combating haitian, but china needs to urgently address its global impact through imports of commodity like timber soil be from palm oil and the financing of the companies involved in producing and trading base commodities which unfortunately, routinely length the bar station then, right? so if china ever the part of the problem here is the fact that china just seems to

be more willing than anyone else to, to make loans, to buy influence in poor parts of the world. well, dear politics does, of course come into the equip asian, but that's not unique to china. cost us than european countries pioneered the use of financial leverage influence to extract resources. and it's not just driven by national interest. i think incentives, there are complex and bank client relationships very from region to region and commodity commodity. the chinese banks do have policies in place to restrict funding to companies that cause environmental damage. but, but something's obviously going wrong here because they're not being implemented. why? that's right, and many chinese bank clients have very poor environments and social form and which really don't meet china guidelines for the steve investment. and if the standard, the going to be match, the signal needs to come more strongly from the central government laws lower needs to be needs to be strengthened. sanctions needs to be introduced against bank. we

continue to lend the company. but again, this problem is not just about chinese banks, major international banks. well, those they continue to finance clients known to be willing to be serious and our mental damage and social violation of the i don't they say that while bank motive to maximize profit is not surprising. what is surprising is the failure of financial sector regulators. if we're going to meet your global tyler just about i am then government instruct, thanks to shift capital away from fossil fuel expansion and before station and then to renewables and sustainable communities control systems. something to do the right thing is simply not working right now with the banks reflecting this issue by announcing climate august 30 years from now, which huge loopholes built in and just signed the wrong. the alarm bell that the world is like, the $1.00 degree warming thresholds within the next. why did we simply don't need

more 2050 targets bank. we need action now to edge and to important and to base the trust you bank. and as far as the chinese money is concerned, is that money being loan, mostly the chinese companies who are operating abroad. well, the data shows that the money is going predominantly chinese companies, but also other firms with the strategic control and interest connected processing operations that in china of the $15000000000.00 us dollars, we recorded 60 a sentence. those loans when south east asia are authoration 900 percent base. and around that most of that money appears to be going to southeast asia. what for is it being used for illegal logging while trying to bring blending? se stager is mostly going into 3 factors, palm oil rubber, and pope and paper with the largest share of that. being the paper factor that goes to 2 into major giant,

controversial pokemon paper. in april is that the had very strong links and the families. i couldn't a very strong link to the chinese bank and divided them with billions. ready of dollars in credit fund, the boston players and mil relate to infrastructure. but these 2 pope groups have had a disastrous impact on in nature forest. they continue to be involved in hundreds of complex with local communities. and the indonesian government implicated the groups in being connected to the annual fire and have crisis which has been an environmental health disaster across asia. tom, it's been really good to talk to you on counting the costs many thanks to date for being with us. thank you, and that's our show for this week. if you'd like to comment on anything that you've seen, you can get in touch with us. you can try me on a 2nd on twitter, please use the hash tag h a c t c. when you do, or you can drop us a line counting the cost of houses here, dot net is our email address. as always,

there's plenty of you online that out of here a dot com slash c t. c. that takes you straight to our page and you'll find episodes fees a catch up on. but that's it for this edition of counting the cost on adrian again, from the whole team here and them all. thanks for being with us. the news on al jazeera is next i the roper hotel is the most talent that i've ever stated and the biggest box you have ever seen. how did explode taken out the hotel? this was germany. we loved it when it was built and read even when it was a major time of the conflict in northern ireland in the late 20th century belfast europa. a new episode of war, hotels on algae 0. it's a very bleak picture for

a lot of americans out there, life supremacy and back all of our confusion. you're putting more money into the hands of some workers taking money out of the hands of other workers. everyone goes to their campus and it becomes the us versus down. this is a deal about constraining a nuclear program. the bottom line off the big question. oh, now 20. me the money's carlita. can see me going to is declared the new transitional president. ah, hello, my name is al jazeera ally from doha. also coming on germany admits it, committed genocide in namibia and promised to support the victims, descendants. the critics want more shame on the republican party.