vision the european championship with a lot more interest when caught by magica. want to can you hear that lie for us in or it is there? i thank you very much. i hope stories. the party of, if you have his problem is to be all met, has one a landslide victory and june 21st elections, assuring him a 2nd term in office. the vote was overshadowed by an opposition boycott, ethnic violence and the conflict in northern te gray region. he great was one of was one of 3 of ethiopia, 10 regions were voting didn't take place. catherine, so he's in the capital i decided with all this announcement really come as no surprise prime minister obvious be amid as far as the party has been leading from the very start. and it's also an election really that has been voice portal was boy

quoted by on some of the countries be guessed opposition parties in the lead up to the election. some opposition leaders was arrested also, voting does not take place at all in dozens of constituencies because of security problems. rwanda has started deploying a 1000, so just in those, i'm big to help combat violence. and the gas rich cub delgado province that we joined by forces from the 16 nation southern african developing community in tackling a nearly 4 year old conflict. around 3000 people have been killed at least 800000 others displaced off of them. children would have hated assassinated, president of accused political enemies of organizing his killing to stop the democratic change. martina louise, who was injured in the attack, were speaking for the 1st time since her husband was shot dead at his home on wednesday. but his security forces have been deployed at 10 days of violence

between gangs and police and the capital crackers. almost a 1000 armed officers entered for poor neighborhoods on saturday. at least 12 people have been killed during fighting over the past 2 days. as actually years confederate general robert e lee has been removed from the city of charlottesville, virginia, many black lives matter supported, gathered to witness the removal of the monument. it was at the center of a violent white supremacy rallied 4 years ago. and i was just say to have won their 1st major football trophy since 1993. they've been defending champions, brazil one now in the corporate america. final, when means line message has finally won an international title with his country, that was widespread criticism of the decision to allow brazil to state the month long event because it created virus numbers. those guidelines and these continues on al jazeera, after counting the cost. the covey 1910 to

brittany, one of singapore, the most love tradition, its famous straits, told the fragile youth on 118th, investigate it. pokers can innovate to survive on out to 0 me morning, allow government al jazeera as a, you know, with hello, i'm sam is a, than this is counting the cost and how to go look at the world of business and economics this week. china band, bitcoin mining and trading, while l. salvador welcomes it. will the crypto count? he provide an economic bonanza, become a gangsters paradigm. in the shadow of the silicon valley's tech giants and wall

street money can europe deliver more multi $1000000000.00 companies? we talked to the ceo of one of germany's rising star, can gas counseling, super cost, reinvent themselves for a green future. we talked to the chief executive of one of the world's most desirable port. com. the news, as el salvador became the 1st country to make bitcoin legal tender. china was clamping down on trading and mining the crypto currency that took huge chunks out of its price. and valuation paging says, bitcoin disrupts economic order and facilitates illegal acid transfers in money laundering. but china is also concerned, it would undermine the role of its own digital currency. so why is el salvador 39 year old baseball wearing president nie a book kelly pushing the use of the crypto currency? well, here 3 big reasons of salvatore is

a dollar eyes country. it doesn't have its own currency interest rates and monetary decisions by the u. s. federal reserve have a huge impact on l. salvatore's economy. what does that mean? take the pandemic. many governments have been able to print money to fund support for poor families, but a country without its own currency can get its own central bank to bytes debts. it has to resort to international investors all the world bank and i m f. bit con, enables it to diversify its reserves. remittances may come almost a quarter of el salvador, g d p. but traditional transfer companies charge fees, which means it's losing out on money. what about the downsides? why wouldn't you consider it for daily use? for example, while the huge fluctuations in the price of bitcoin is one reason, if your currency can lose so much value in a day, people will lose confidence when they see the value of the savings evaporating.

it's not easy to cash out a bit coin to. although salvador is creating its own wallet and offering $30.00 to anyone who signs up to the at financial institutions will need to hold more cash. just in case there's a run on banks because of the volatility of bitcoin will. that means there's less cash in the economy to fund growth. there are many other concerns, credit rating agency fits said bitcoin would increase regulatory risks. there's the potential for violations of anti money laundering and terrorist financing standards . so how did this idea gain traction? manual report reports from the small salvador in beach town where crypto has been part of daily life since 2019 the this is a sunday no locally as bitcoin beach. this small salvador and tours town is home to a variety of small businesses whose owners all have one thing in common crypto currency. to do this, i think, i think they were a tourist to didn't bring cash,

would come and say they wanted to eat something. and they asked if they could pain bitcoin. i said to myself, this is a good strategy. i'm going to use. and i'm going to start collecting. i downloaded the app and i started selling a lot more. the success of the bit coin beach project has boosted the popularity of crypto currency and salvador the government and nails big point would become legal, tender. therefore, the law of bitcoin is approved. supporters of the measure say the new law represents a vote of confidence in using block chain technology to bring informal sector workers into a 21st century economy. you know, lisa and banks are not necessarily, this is not the important thing. there are many salvadorans in this country that cannot use a bank because they have thousands of requirements. el salvador now becomes the 1st country in the world to formally legalize the digital currency. the initiative was

led by l. salvatore's president. now you kelly on twitter. he called the passing of the bid coin law historic. in the short term, this will generate jobs and help provide financial inclusion, 2000 times the formal economy. and in the medium and long term, we hope that this is ball decision can help us push humanity at least a tiny bit into the right direction. there are also critics who ward of the risks of bitcoin price fluctuation bill in the moment, look at the moment, bitcoin becomes a legal currency. problems appear, including in its most basic use, which is a form of exchange. and this is related to the volatility of the price of coin. while some also ward that legalizing and be centralized digital currency could be wielded as a tool for corruption. bitcoin believers in uncertainty and across of salvatore, say the new law will only increase financial inclusion and has the potential to spur economic development. well, joining me now via skype from london is 9 asked lam 9 is the chief market analyst

with a trade good to have you with us. so do you think the move towards bitcoin is good for salvador, good fritz economy? thanks for having me. i think there are pros and cons money comes with this particular view because if you look at the dollar info and the daughter expert from the countries expert, you can see that the there isn't much of a reserve and the country is, is, is up in the country because it doesn't have its own currency for live on the daughter as in terms of its currency. so i think in terms of pros, bed yes, you know, we could see as the economy growing, especially the mining sector really kind of taking off. but at the same time, you also have to think and factory and the enormous amount of a while until it he and right now the government is saying that it is great. just

a fund of 150, with a 1000000 in or in around 5 particular mom. say you will, you will see you will think that a k given the want to let you that we have seen around bitcoin. how quickly time that really shrinks. i mean, if you are thinking of providing iniquity to the bank really shows such a reserve that can shrink pretty quickly, or at the same time it can. so who are matter me as well? if it turns to bit calling for admittance is might that threaten to dry off its pool of dollars? yes, exactly. so this is the main issue with respect to coin because the higher volatile as he, as of is discussed, i was discussing. so if we see another round of 2018 crash with respective bitcoin, we could easily see our liquidity pools,

which are being created by the country to running into some serious sort of trouble . and remember the debt to g d p ratio is already running at 90 percent and china at the same time, is banning mining of bitcoin. could we end up saying, do you think those chinese mining machines and up in el salvador recruit certainly see that became an issue that we should see him. and of course we do have evidence of chinese mining machines. i'm moving to are going to texas as well. so, you know, we are seeing that outflow from trying them in terms of mining to various possible well, but outside of adobe, the respective them of energy. i think that is the major guess among the bitcoin comenity. and if you look at the energy of issues currently being used from fossil fuel and from the renewable sources, you could clearly see from,

according to several different ripples that has gone and sort of past that 51 percent mark, meaning 51 percent of the energy which has been used is coming from renewable sources, not from the fossil fuel sources. so what would that do then to a country like l calvin door when it comes to its energy, consumption? patton, i think obviously a big crime is a very energy into a high energy consumption from the, from, from day one in terms of its mining. but currently there isn't any strong evidence of the kind of the country chrissy or could face any of the blackout issues. so that, that there isn't that there is no very clear evidence in relation to that. so we don't really anticipate that can really happen to help us through the countries a economy our country could face any of those trouble in the future. we talk about el salvador, you know, as the 1st country that makes this move, can it be

a model for other countries though especially when you keep in mind? well i think 80 percent of bit cohen's already been mind a really interesting question and i'm going to go back to my opening statement because that countries in any position because it doesn't have it has his own sovereignty, but he doesn't have his own currency relies on daughter, so i think that kind of very much answered the question, how many of the countries can really adopt that? do you think it'll open up the economy there to money laundering and other issues? i think that particular aspect has always been very much associated with big coin from day one by remember, dollar change money really comes to money is andre issues or anything like that. i think red, given the fact that we have many regulators jumping into this space, we have an enormous amount of changes coming under the regulation. so that money laundering aspect isn't the really fast concern for any any, any, any investors re,

a final line. would you make of the i m s concerns about this move towards bitcoin? like i am, i for isn't really going to say like, that's great. let's go ahead and then you start using your reserves in, in a, moving away from my daughter and i start using bitcoin because if i am asking us the greenlight and then that goes back to your earlier question, a lot of other countries, i might say that okay, let's do that, but you know what that particular question by the, comes to us co press, whether it comes to countries by they comes to portfolios, institutions, hedge funds, family offices, that is coming now. and there again, once again, there is sufficient evidence right now, given where the big one qualifies are. now, a lot of that supply is being sucked up by the institutions. and by, by some, some other sources of major other other players are really 2nd apply. why?

again, because of diversification. so if i am going back to the original one, if i mean i m f isn't ready when i get the green light from, from day one. yeah. okay, go ahead and then do your recess in big point. but i think the investors are very much keen because of the intriguing element and the upside that because really produces a tab and they specially that it is being dumped as a digital gold. so i think every single matters, the particular lands or i name is a good talking to thanks so much. the silicon valley has long overshadowed europe with its tech titans, but last year, europe registered. it's $281000000000.00 tech company that some achievement, but continental europe continues to lag behind the u. k. for funding and in some cases it cities are being pushed out of the top 10 funding rankings. according to

tech nation, the u. k. is catching up to china on the tech investment front. venture capital investments reached a record $15000000000.00 in 2023 c investment into london tank was more than paris . berlin and stock home combined at 10600000000 in 2020 u. k. cities made up 20 percent of the top 20 european tech cities. now i could change with the u. k. axis of the european union, starting with investments like this. berlin based, we fox re $650000000.00 from investors and what it called a record breaking round for a so called insure attack to let's find out more about we folks with its chief executive julian taieka. good to have you with us. so if you're looking usually for car insurance, home insurance, you'd go to a recognized insurance company, maybe a website, but you're actually now selling insurance through agents, right?

i thought we've done away with that. what's happening? well, it's quite the opposite to be honest. many people say insurance agents are depth, we say opposite is true, and still to day 9 out of 10 insurance policies globally, a sold by human agents. and instead of focusing on the one out of 10 policies and make it easier and better, what we say is the big potential isn't digitizing the 9 out of 10 policies and investors understandable the much bigger potential. i think our fundraising of 650000000 just recently announced as a signal for this approach being a very good approach to disrupt insurance on a global, on the global dimension. interesting. some of the biggest ensure is munich already allianz the german right is that helpful when raising money to be part of a specialist hub? there is a big tradition of european insurance companies making a global. and if we look at we fox, we have started off in germany, and we are now in more european countries. our ambitions essentially are

global, and they are the same as that's also in the u. s. 9 out of 10 policy. so sold via human agents, also in asia, 9 out of 10 policies are sold via human agents. we want to continue the tradition of european insurance company really shaping insurance on a global scale. but generally speaking, european capitals have lag behind when it comes to raising money from venture capital. right. why is that the time is over? so the last 20 years and the u. s. and asia were clearly in front of your but what we see recently with amazing fundraising rounds from germany, but also from europe. the time is over, the capital is pouring into europe. europe is going to be the winner of the next 20 years. and with insurance, we have one of the biggest areas to disrupt and we believe that the disruption

globally will come from europe. we have at the right point of time, we have the right talent, we have the right to skills, and we now have the capital to really make an impact globally. do you think britain's exit from the european union might change any of that forecast? absolutely not. so britain, of course, has made a decision and that slows down essentially the development in the u. k. we, for example off, have the difficulty off and not having the advantage of selling our insurance policies under a single european license. now also to britain, we will focus on further european countries in the u. u. first before going to britain. of course, britain is an interesting market for us as well, but it makes things a lot more difficult capital. it's pouring into the u less so to britain,

the u. k. has kind of temporarily lost its crown as the biggest share trading hub. do you think momentum will suggest that the money will follow? i do think that that's going to be the case for us. we well finance at this point and we really focus essentially on how can we disrupt insurance and take the customer experience that has made us successful in europe and globally . what we're going to invest our capital in is essentially further geographic expansion. 8th and be we are going to offer not only a pnc insurance property casualty, we are today in motor household and liability insurance. we're also going to offer and life insurance and health insurance and create a single policy, a single coverage for all of our customers. and the 3rd piece i think is most important, it's really innovation of the core of insurance. and so we're going to invest into

turning insurance from what it is today. a pretty boring product that we today made a little bit better by digitizing everything and making everything real time. but it still insurance. it's still a product. and what we're turning insurance into essentially is a pro active product that is going to help you prevent bad things from happening. and this is possible through the rise of i o t data. and we want to say, how can you do that? that's, you know, that's quite an ambitious target. absolutely. our target to 30 percent of all risks happening from our customers. if you look at the history of insurance and you see the same development and commercial insurance. so in factories, for example, ensure us have already taken a lot of preventive measures in the last decades and the same development now through the i o t data revolution. and by 2025,

every human on earth is going to own around 15 devices that are connected to the internet. and this prevention will also come to personal lines insurance. so we have a i team and that's working on what we call. we focus prevent, and that works on increasing your awareness about your general, but also your immediate risk so that you have an increased awareness about your risk situation and you reduce your risk and this is a win win situation. insurance is going to become cheaper because of reduced risk. customers are going to be happier. they're going to live longer, and they're going to live healthier. and insurance is going to become more profitable. it's a win win situation for customer, and i'm sure us and we want to be spearheading that development where we, fox, the only thing you left out there is we will all live happily ever after. thank you for that positive outlook. let's hope it comes through. thanks so much for your

time. thank you very much. and finally, here's something we can all aspire to. soper cause or hyper cars, but these manufacturers recognize they need to change as the world moves towards reducing emissions. a little known creation electric hyper cars start up re mac will take control of one of the world's most story brands. folks foggins, bogart, he remarked, began life in a garage in 2009. it is growing to become one of the industries leading technology providers. its electric and battery systems can be found in aston martin and john g u a cause it's upcoming remax navarro is expected to be the fastest car ever built a title previously held by the book. auntie sharon, while my next guest is the chief executive of lam beginning, which is owned of course by volkswagen, stefan binkle man joins us now from santa got about a navy in italy. good to have you with us. so you're launching what's being

described as the last of and todd or is that an acknowledgement that the world is changing that the future is for electric pallet cars. first of all, we are celebrating allow them to lower because it's the last of a kind. we will have 600 units, only 250 groups and 250 rotor. and then there will be the phase of hybridization, and $23.24 for the entire lineup of all to be la maurine. so 1st, the event of the fall, what would be hybridize will be plug in hybrid, but it will mundane our famous ve 12 engine. so there will be a new vitro engine also in the hybridize card. and that, that's the problem is we're making to our customers, is that the new generation of cars is always to be better than the one before. and especially when we speak about performance, this is emma, will they still found us good? yes, they would sound very good because they will keep our famous engine,

as i said, with the v 12. that will be this incredible sound and also the feeling of a real lumber game. all right, so it sounds like you're saying when you, you keep saying, i'm going to keep the v 12 that there's going to continue then to be a niche market for the petro purists like me. right? we're not a dying breed then. now because we have putting 2 things together because at the end of this hybridization phase, so when we launch the also the car at the end of $24.00, we will cut you 2 emissions by at least 50 percent. and this is quite something. and then you generation, they want performance one enzyme, but they also demand for sustainability. and i think that this is a good step that we have the words match together. and we will ask guys which are still fulfilling the dreams of their customers. as you probably know,

must tesla is introducing more and more autonomous features. is this something that hyper cost super cars are going to have to go down that road as well? right as 3 mega range? no, there is a electrification there. digitalization and then there's one on the driving. the 1st 2 are already on our table and they are very important for us in the future. if it comes to driving it, if it helps and traffic if it helps for active and passive safety. but we will always have a steering wheel, and we will have always feature that you can shut off those helps because it's important when you step into a lumber again, if you sit in alarm or you need to do it because you want to enjoy the drive but there's ration where it may be this in the future is going to be boring and dropping. so we will have a level of i don't know me. all of them was driving, which is not influencing the joy and the fun of driving a car like this. so how will lam beginning evolve then given what you said in the future, how will you retain some of your, your key ingredients,

especially as restrictions green measures become tighter and tighter on com manufacturers. but as i said, the 1st step is now hybridization. we are going to have a 1st full electric vehicle in the 2nd half of this decade. we think about 2027, which will be the 4th model of lumber gaining. we will continue to look into what is feasible with the combustion engine to look if synthetic fuel can be on the after 2030. but the new line up, which is going to be launched in 23 and 24th, is going to fulfill the regulations and did the end of this decade. and then as i said in the 2nd part of this, they can, we are launching of 1st full electric car. and do you think your brand will be independent within the v w stable going forward? but inside the, the folks one group, every brand has its own positioning,

and the value of number getting grows immensely in the last decade. and i think that the business is very good. we have an order bank of 10 months of production covered with customer orders. so also the look for this year and the beginning of next year is a very positive one. we investing the highest amount of invested in the future of this company. it's 1500000 euro until the end of 2024. and then we are looking into electrification and i think that this is a good match for the folks law group because we are covering for the old segments with the brands we have in the, in the group. i'm sure many young boys out there will be happy to hear that lum beginning will be around in the coming green the decade to thanks very much, stephan vehicle, man. you're welcome. thank you. and that's our show for you. this week is more

for you online at al jazeera dot com slash ptc. that'll take you straight off page, which i've been tiring for you to catch up on time. time is a, than from the accounting. the cost here, thanks for joining us. use an algebra is net ah, when a war crime is committed, is it come to the, how does it follows a garden human rights investigator on his unprecedented journey to the french high court? i says, every place to make sure that the information that ought to bring it's taking on the arms trade in his fight for justice, for innocent palestinians, and their families made in france on all disease. not an america is a region of wonder joy, tragedy of violence,

but it doesn't matter where you are. you'll have to be able to relate to the human condition away. no country is a life and it's my job to shed light on how and why. oh, i official results show a landslide when the prime ministers party and last one selection monitor by opposition boycott and the war in te gray. ah, i'm him or i'm calling life from the whole coming up. the wife of haiti's assassinated president accuses political opponents of organizing his killing and her 1st public statement. a can.