floods the waters are going above the foundation, brick work back. if no one takes care of it, we will witness the destruction of this minority and nothing will be left for the taliban governments. it's not just a question of having the resources to save historical sites, but also whether it has the will given its track record. i'm preserving afghanistan's heritage, the destruction of the by me and boot is in 2001 came to represent for many the taliban intolerance of other people's beliefs. although there's a growing sense, this time is different to be who come a dirty dot on. the emerett now has more experience and knows the value of heritage and that it's not just about religion. so it's totally different this time. i mean, it will. yeah. just as the international community is holding the taliban to account for its future actions in so many aspects of government add to that list, how it preserves the past. robert bride al jazeera couple.

ah, i'm sam is a than and d z a headline. so now just now, 12 people have died from the on the chrome variant of corona virus in the u. k. that's according to the deputy prime minister. but dominick rob is refusing to rule out new restrictions ahead of the winter holidays. britain has reported record levels of coverage, 1900 cases, left wing politician gabriel bondage has been elected. she lives next president bar . it's 156 percent of the votes in the run off on sunday. far i candidate for the antonio comp congratulated bartch and urged his supporters to put political differences aside. going july and president sebastian pin yada is hoping burridge will lead with wisdom and fortitude. he's urging all political parties to work with the new government. they will have that that will disappear, gabrielle boring,

will have to face new challenges, new difficulties, and new opportunities to succeed in this mission. it's essential that the government, the opposition and the all chill ends act with goodwill, saturday and conviction, with the spirit of dialogue, of collaboration and agreement, and with the spirit of peace and the condemnation of all types of violence. lawyers in new york, i'm making the closing statements in the thanks, trafficking trial of july maxwell. she's pleaded not guilty to recruiting teenagers for andre, thanks with her former boyfriend jeffrey epstein. she faces up to 70 years in prison, found guilty 4 days after super typhoon rise. struck the philippines, police have increased the death toll to at least $375.00. more bodies are expected to be found in remote flooded areas. military helicopters are ferrying food and water to some survivors. as he had lines, the news continues after counting the costs,

stay with us. me. ah ah ah, hello, i'm come all santa maria, this is counting the costs on al jazeera, your weekly look at the world of business and economics this week for letter m r. and it is in many ways the breakthrough technology of the pandemic bank. things that teach our cell count a trigger and immune response, and ultimately protect us from infectious diseases. look at the companies behind the vaccines house who invests, and whether you even should also dislike the philippines of relaxing rules for foreign investors. in the hope of boosting a post covert recovery,

but it may not provide the bounds the government hoping for another set of letters to get your head around. and if team just what is a non refundable token? why? of a box or rally in the digital art market. and does this latest investment price have lake ah, the past year? it's been one of touchstone woods, hasn't it? virus pandemic locked down, flattened the curve, social distance thing. all the sorts of things. arguably right now though, the word of the moment is vaccine. there is little doubt. science has been our exit from this pandemic. but how often do you consider the science behind the science and hung credibly significant? it is not only have vaccines been created inside a year, don't forget that. but the technology behind the biotech vaccine has the potential to be one of the biggest breakthroughs of modern times. it is called m r n a messenger rather nucleic acid and it's

a game changer. let's start with the basics though. the traditional way to make a vaccine with a weekend or an inactive virus that gets injected into us. trig is an immune response, produces antibodies, protects us in case we get infected with the real thing. it's hugely successful. it saves 2 to 3000000 lives, the year m r n a very does it differently. it teaches ourselves how to make a protein to trigger that immune response, and it's the kind of technology which opens the door to treatments of cancer, heart disease, even brain diseases like outside isn't parkinson. now, i mentioned the company leading the way here by on tech. it was only founded 13 years ago in germany. it's been working on this m r n a technology for a decade. also. it also has various cancer trials underway by and take the vaccine part of a joint venture with pfizer, the 172 year old american multinational. and it's a partnership expected in the share in $15000000000.00 with the profits. you've got

my donor as well, which uses m r n a. it, it's coven, 19 vaccine. it expect sales of $18400000000.00 from it? i don't. it's pipeline of drugs includes trial vaccines for the flu virus and h i, b, that's on top of all its work on cancer drugs. but for every success there is a struggle. for example, germany's cure vac it's m r n a vaccine has yet to be approved and it was already part of a controversy involving speculation. the trumpet administration had attempted to acquire the company even so britons black. so smith klein bought a 9 percent stake in cure back last july. so with all that, do we find ourselves with a bit of a dichotomy here? life saving life, changing technology for the good of humanity, but with a whole lot of money to be made as well or not just for the companies. we're going to talk to independent analysts jemila had about this joining us from london to me . this is so interesting, you've got joint ventures going on here for the most part. and i thought to wonder,

did big pharma kind of miss out. they only needed these smaller biotech companies to push this technology forward. my cannot actually, it's a commodity going to stop and as commodities as the bun grows, you know that grow into it as a commodity. this technology, generally a vaccine will take at least 8 to 10 years to develop. but the technology for the specific overtaxing that some of these big pharmaceutical companies have used to develop the, the hopeful cure it showed that you can actually do this shorter time sponsor imagination has already gone. wow. to a degree and a good way that this order cannot be used for the good, the great good to cruel many more illnesses that sadly cos multiple lives every year. and i think it's more enthusiasm now. not so much that big science has missed on the snugger, but that these big pharmaceutical companies can now adapt towards this new technology around that will hopefully help show lives after this terrible risk of the pandemic is over. and i wonder from hakes big farm or

a little bit more palatable as well, because a lot of people have a lot of issues, shall we say, with the money that big pharma makes and, and the profits that they make and how much they charge us for for the drugs, it's a very profitable industry. and again, if we had a time machine and you'd look back on what you would do exactly one year ago, let's say the end of march 2021. this pandemic is really stockton globally, globally locked as we can well, you would buy sanitizers mosque and you purchase pharmaceutical starts because we saw defies the stock hit the lot somewhere like $30.00 at the end of march 2020. then we went up to someone like $40.00, but thought mcdonough that's listed on us stuck. and as we all know, the technology sector did tremendously well, which one is undone? it found from $30.00 and march 2022 as high as 156. by the end of the yes, of course. that's where you put your money and haven't said that since the end of year. pigs, we half now seems somewhat patrol over the consolidation and the share prices, i guess if we had a time machine would go back in march these markets. but we do see it looked like

that ship is out unless we have a bittersweet moment. why these vaccines are not proven to be as effective, fingers crossed and touch what we're not getting that stage yet. well thing as you've started on the numbers here, we've got some of our own, which i might just bring up to show to our view as this is over a 12 month period. are looking at some different starts by and take up a 118 percent. and it has gives me madonna, 305 bits. and again, over the 12 months, q of acts even with the issues it had 65 percent. and then another one which i must admit i hadn't heard huge man translate 63 percent. can you tell us a little bit about that? there's multiple brands in the pharmaceutical industry that really we hadn't heard of so much before. obviously johnson and johnson of pfizer. well known for the huge market, capitalize capitalization of value, you know, got johnson jones got a market cup of someone like 420000000 faces. somebody like 200000000000. but there are industry instances of these much more,

less known companies that the one you just mentioned. and pharma is another one that's one that seen a vaccine is to be a lot more effective hopefully than others. and we've seen the stock prices. so i think generally pharmaceutical companies with any stocks less well known or these big chimes dies, one of the sectors that performed tremendously watching the pen done with the over one, obviously being tech stokes and the technology sector. other than not, the doors have been close to the other sectors over the past one. yeah. i believe also it goes be, i mean we, we've been focusing on m r n a they've t r n a and it is so many fields here it is. is there something else we need to be keeping an eye on, or is it all sort of in the same under the same umbrella? no, that's the only difference is i think we can consolidate those acronyms. there's so many different acronyms you just mentioned back when i'm struggling with the tongue twisted. we had to remember that with this science and sipping with this pandemic, there is a sentimental edge is why i cycled your question. like for example, we saw the past couple of days on

a lot of the controversy over the western seneca vaccine that does not use this technology. but because of that controversy, why regulate just might be pulled back or some of 40 might be saying that we have the light, vaccinations that an 8 groups we have to take into account, but i can wait down on the whole medical sector as a whole, which is again, another reason why these profitability and also the share prices of the specific firms in the industry can come to a container in effect of contention effect as well. that might be one risk, then risk, all of the other elements of thought, paul, and i think that's something that we have to take into account the market as well. one industries become very, it's both, that's all the shop prices. but as soon as we have some so consolidation of market and excess attracted to an investor to what are, what are the other ones? what are the other industries to keep an eye on that have? let's face it benefited from the pandemic. the tip of the tongue right there, said archie, you know, you got your streaming devices from the netflix is to the, on the google the alphabets. but really what we saw as technology stokes. what with

zoom out, microsoft and so on. so many parts of this world economy and everyday life has been cut off full. ready the overall majority of not all of us over the past one yet, but there are certain things that we might have looked at as luxuries or stuff that we did in aspects. i'm like watching netflix, but it has become essential because it's been nothing else to do. so there's 2 sexes over what the act on extremely wise and prosper in this environment is pharmaceuticals and it's technology. and i do think that we're gonna have a lot of these social distance measures or working remotely, or there's going to be a staggered return to large scale events. and large scale governs so to say, i even the technology sector, yes, is property rights cause but as do some gaps. hi, they can reach for the same time in the ceiling. while we say that necessity will always be the mother of invention, want it to me last night in london. great to talk to you. thank you. thank you for off to the philippines now where unfortunately the economic picture

is bleak, not re one to this time last year when the country, when it's locked down, unemployment had risen to a record high of 17.7 percent. and down off those highs now. but president rodrigo deterred, i says, the economy is sinking deeper into debt, losing more than $800000000.00 every day. and on top of that inflation that it's highest and nearly 2 years as well. so well, congress is planned to open up the economy to more foreign own businesses. help reverse all of this. jamila allan doug and investigates. from manila, aaron jeweler, sylvester known as e g says life has never been dis challenging. he owned a travel agency for 20 years, but it went bankrupt after the crew in a virus pandemic broke out. he worked at part time as a musician, but that too has now been put on hold for some of the luxuries we used to enjoy. we had to stop that 1st. ah course,

we've also had to adjust our budget for food, expensive utilities. we save whatever we can and spend only one with what we mean. small and medium sized enterprises like the travel agency, e. g used to operate, accounted for around 60 percent of jobs in the country. but latest figures show more than 2 thirds of these businesses have been seriously affected or closed completely by the corona, virus pandemic reporting amendments. the certain economic provisions of the night. but congressional efforts to revive discussions about amending the constitution to relax its foreign ownership restrictions have not been welcomed with open arms. critics say the focus should instead be on providing relief to those suffering. in the current recession, we are over selling it by no means stuck. you are all simply opening up. the quantity will not create an army of investments. quality of local governance is the

most important factor for in close offer for indirect investments and by quality of local in a governance. this might include the rule of law, but what congress wants is to make economic laws much more competitive by allowing for an investment in public utilities. at the moment, that's restricted to filipinos citizens along with the right to own public land and natural resources. not because there are short term needs that we will, for goal working on the longer term solution i make, the pandemic was really wake up call for us. it has become clear that longer term structural reforms. i needed the philippines implemented one of the longest and strictest locked down in the world last year in an attempt to stop the spread of the corona virus. but as in other countries, the economy has taken a battering jamal alan dog and al jazeera manila. so it's not

a pretty picture and really, aside from vietnam, they haven't been many southeast asian economies. they've managed to weather the pandemic, even with the swift locked arms a year ago. in fact, the united nations believes 89000000 people in the region have been pushed into poverty. a 140000000 jobs have been lost as measured by the loss of working hours. all told countries in the asia pacific spent $4.00 trillion dollars in response to the pandemic. and here's an interesting statistic as well past the tonic related diseases that is diseases which have made the jump from animal to human. have caused the region $200000000000.00 previously between $22010.00. so let's pick up on that with our guest, anita. so say alice giovanna, who is the united nations under secretary general for economic and social commission for asia and the pacific. and she's with us from bangkok today. thank you so much for your time. asia has experience here, doesn't it?

it's dealt with murray. it's dealt with sars. it's dealt with h one n one. can we deduce it should have been able to maybe deal with the coven? 19 a bit better? or is this just on a different scale? yes, definitely. devon lake of it mind, dean is saying a much larger scale here than the previous. been them me. but several countries in the reagan because of previous experiences with, with especially sars, a dan, i'm sure a, some lessons learned next. best practice that now day i did day are better able to prepare yet. and this is shown best, several countries in the region that day manage the and them make so far quite well, relatively speaking, of course, of course, for example, i said vietnam tie one was another example as well. in fact, you would say those countries have done better than

a loss of western developed countries. what did they get? right? yeah. again, because of previous experiences, then the early response, yet the fast, early response include being in certain instances the initial locked down, but not only that yet. so that population have been better able, prepared than all this measures the health, the caution a measures are, are readily a, you know, in place like, you know, the simple, a hand washing social distancing went wearing mass. i think that's immediately being taken up. and 2nd is also the effective identification, a con, compact tre, saying, and then also a, you know, dead, a terrific, a measures that follows. we are still very much in the middle of this pandemic vaccination still have a long way to go, but we always have to think about the recovery about coming out of this. and,

and i think about the idea of an inclusive recovery, one which doesn't leave less developed countries behind. ah, and, and, and, and collectively, brings every one to do you think that's a, that is possible and that countries are planning ahead for that. how to recover better in the sense that we would, we do do not one yet to recall for going back to the freak up and that makes it to ation. so therefore, recovery that will lead to more inclusive, more resilient and more sustainable. of course, we have to translate that we have the trends that more inclusive starting with a better health care system. and then universal health coverage. this one second, at the scale of the social protection system, which again many countries in the region have not that system in place. and also how to digit the lie,

sir. then we learn this digitalization is very important, especially for, for example, for the in the fact that s m e 's to migrate the digital platform that will help a lot not to mention the indication, sector government and how to deliver the public services social services to that population in need, right? and those are the sorts of things. if we get those in place that will help, obviously, mitigate any other crisis, which comes further down the track. in the more immediate tender you've got issues with debt, you've got a lot of countries which are racking up death at the moment. i'm wondering how they're going to deal with that. are the development banks in the region on board with helping the mouse in the, in the, in the near term. our region several times in the region are, are we're in the quite a better position if i can see that. so therefore, in the initial stage of every each, every,

each depth db ratio is about for the percent every year. so there for many countries is region we're a bit better able to or wide to put away the fiscal stimulus need. that because they have the fisk space, but since i depend on make crisis, have been for a long of course. yeah. that space is getting smaller and smaller. and also the depth situation is also getting more worrying. so therefore, within the global framework, as we know, that is this initiative did so called d as, as i said, dep suspension initiative, especially for the least developed countries. and now also a call to include the middle income countries, especially those countries that are vulnerable to the depth situation. yes. so that's when a 1st step. and 2nd, again, we need to utilize more

a innovative ah, let it fiscal instrument such as dep swap agreement or arrange men and, and also but again, the basic basic year at the basic domestic resources mobilization is we need also to still implement that although may be in this situation is a, it is, is a proven to be a very challenging i'll meet at. so say alice giovanna from the united nations in bangkok. thank you so much for your time. we do appreciate it. thank you very much . finally this week. well, something which i'm struggling with, quite frankly, i want you to have a look at this 1st of all. okay, this is a piece of art by the american artist mike winkleman. he goes by the name people. it is called every days the 1st $5000.00 days. it sold at auction at christie's recently for $69300000.00. now art sells for a lot for all sorts of reasons. but this is a piece of digital audits,

not hanging in a gallery anywhere. it's a bunch of pixels and some one paid 70000000 bucks for it. allow me to attempt to explain the technology behind the crypto artwork is called nf tease or non fungible tokens. now if you know anything about crypt occurrences, you'll know about block chain. this is along similar lines or through an f t. a buyer can be certain of the authenticity of the art because it's all stored digitally on the block chain. like a digital recorder or a ledger, if you like. but then what is art? is it a tweet? because the malaysian ceo of the block chain service paid $2900000.00 for the very 1st tweet, posted by twitter chief executive jack dorsey. $3000000.00. technically for a tweet. and where did all this man sat well back in 2011 with nie in cat, a mame, which sold for $500000.00. well, i have questions, and i'm sure you do too. so let's put them to dr. giovanni equal of it's

a who's assistant professor of digital humanities at the university of amsterdam, of visiting research at the l. ensuring institute as well. it's nice to have you with us dr. i've been a little bit tongue in cheek with my introduction today, mostly because of the extraordinary amounts of money involved. what i'd like you to do is to explain that. so for example, with the tweet, the $3000000.00 paid for the tweet. what does that invest that actually get for that money? that's very, very excellent question. pertains to what really is the value in buying digital art? and i think we should ask that question more in general. what is the value of buying art? i can as many as actually can have for the full and subjective problem. personally, we might like art because of its beauty. but also art can provide the ability and reputation to its owner. and furthermore, on art can be an investment. i can have, it can make value. and i think for digital art, the interesting question to ask is,

what is fixed banu of for whom? so who is interested in, in digital art? and i'm going to just quickly, i'm sorry, because i want to pick up the point that you want about about, about the value. it's like shares in the end, in a company. it is, you know, they are worth what someone is willing to pay for them in this case. what does the invest to get for that money? yes, indeed. well, i think exposure, this is very important because digital art is always on display. so country tool to fine art, i mean it's not hanging someone living fact, it's always on line. and this is extremely interesting for, for some people who either really care about online disability. so they are buying reputation and by something that everybody can see. the more i think digital art is also very liquid and so country to traditional arts and fine art. it's going to be

very easy for them to make it into something financial to solid, but also to tokenize it. so to, to settle fraction ownership of a digital token and this again in terms of at least short term economic value. it's very appealing alicia to a new generation. okay, is it quite nice, shit. the moment i noticed that the person who bought the people piece of art was actually a crypt occurrence the entrepreneur himself. i wouldn't say so. i mean, if there is indeed, new capitals coming and in particular creek to capitals. these are not the, the only the only people interested in digital art by all means, but it seems to be the case, at least for the, for the most important sales. but i, but also on the line that i don't think this is really very surprising, quite, i mean, i mean, you generation as asserting so with distinct, artistic taste. so it seems to be the case here that we're witnessing newer

generations and new capital. that is just buying what they can find valuable, the amounts of money and the profile, which all of this has gone out at the moment is that lend credibility to an f t. does it make them them more visible apart from the op the actual annotate? because i think that's probably the underlying story here, isn't it? what's a non fungible token, how that technology can be applied to any number of other things? yeah, this is really an excellent question because no fungible tokens really as much broader scope done than digital art. so in a sense, it is somewhat easy to start using them for collectibles. and indeed, what we are seeing is that also the mainstream artwork is taking notice. and jumping. recently had people say las cruces and we have 4 county sale. sotheby's by the artist. but to your question,

i think an s t 's are very interesting for many more applications that will probably take a little bit more time to, to developed. it's very exciting. and if he's, there are projects that are going to use an s t 's to tokenize money, including intellectual property, but even personal time and personal commitments. so it's really a flexible technology that allow us to take something that is that can be made rare and making into something that is financial. that becomes bilingual very interesting stuff. dr. giovanni glove. it's a journalist from amsterdam. thank you for your time. thank you very much. come on for your invitation, and that is all this week, but i want to hear from you want to know what you think, what you want to say as well, sweet or d n a. if you're tweeting the hash tag as the female is more your thing, it's counting the cost down to the red dot net. and there's always more few online at the or a dot com slash cdc. that will take you straight to our page with all our previous

episodes for you to catch up on whenever you like. and is it for this edition of counting the cost time? come out on to maria from the whole thing. thanks for joining us. the news on our 0 . ah ah. a a, a,

[000:00:00;00] a a ah. the army kron surge 12 people in britain died from the corona virus variant. the government refuses to rule out more social restrictions. more governments around the world, our shopping borders and restricting travel. ah, i'm sammy's a them,

this is al jazeera alive from dell hall. so coming up the death toll in the hundreds and likely to rise, philippines mobilize this help,