high temperatures, making the risk of another avalanche to hot scientists have for dickens been warning about the normal at a glacier shrinking with changing climate, causing glacial melt on a global scale and accelerating the dangers. it poses this rather oh to see how fossils uncovered in china. a helping scientists get a better grip on one of the marvels of evolution. research a say they explained how giant panders developed, what's known as a false thumb. it helps them to hold bombay, one of their favorite foods. it was thought the best develop, the ext digit just 10000 years ago. the fossils show that it can be traced back 6000000 years. ah, this is our da 0. these, your top stories, police in the us of detained a man in connection with a shooting and

a 4th of july parade in chicago. 6 people were killed more than 30 injured when a gunman opened fire from a rooftop in the suburb of highland park. shebra tan c reports a few hours ago, the police released a photograph of robert e kraemer, the sir, but also a description of the car that creamer was driving along with the license plate. and it appears that also long ago, a police officer in northern chicago, actually about 15 minutes north of highland park, where the shooting actually took place. saw the car, there was a boy what's described as a brief pursuit on the car did eventually come to a stop. and kraemer was taken into custody or police have been very careful with the language. they're using the still calling him a person of interest. they haven't charged him with the shootings or they say that a great deal of police workers gone in to connecting him with the shooting for you . i says it's likely that out is there. a journalist sharina walkley,

was killed by unintentional gunfire from israeli positions by the state departments as a 3rd party investigation could not reach a definite conclusion on the origin of the bullet, palestinian officials of criticize the findings and maintain. she was deliberately targeted sedans, military rouelis, of called on politicians and civilian groups, to start talks on forming a transitional. government army says it won't be taking part 5 people have gone on trial in hong kong, accused of sedition for publishing. a series of children's books authority say they have a hidden message and in sight, hatred to us, the government shall anchors. government has begun daily. nationwide power cuts as it tries to conserve dwindling fuel supplies. last week, sales were restricted to essential services. as an economic crisis deepens. as he had lies counting, the cost is next. meteorites, small,

natural rocks from outer space that survive the journey down to work and have high market value for rock and minimal collectors. o 0 world joins the moroccan nomads in their deserts such with these gifts from a sky. head up here? no, i can think of is a me to right. and that is, it is i me to roy morocco's meet you write hunter's own all josie. ah, i hello, i'm danny. navigate. this is counting the cost on al jazeera, your weekly look at the world of business and economics, the sweet promises promises g. 7 leaders inflict more economic costs on russia over

the war and ukraine. we take a closer look at some of the pledges they've made. also this week, the import of russian gold is banned by several nations. what might that mean for the markets? as sri lanka has economic woes continue to hurt millions, we ask an expert how the country can get back on track. so leaders of the world 7 richest nations met in germany this week to discuss how best to forge ahead during these uncertain economic times. the group of 7 or g 7 includes canada, france, germany, italy, japan, the u. k, and the u. s. the war and ukraine energy, global investment and tack were some of the topics high on the agenda. and multi $1000000000.00 pledges were made to talk us or the numbers is charlie robertson, he's the global chief economist, that renaissance capital, and the author of the book, the time traveling economists. he's joining us from london. welcome to al jazeera,

thanks so much for speaking to us. so mister robertson, we heard from germany as chancellor, who vowed to keep the costs of running russia's war in ukraine high for president putin. and also what we know is that russia is now making just as much money from energy exports as it was before the war. so the ban hasn't really worked on russia . the g 7 are now looking at imposing price caps on russian crude. what impact you think that is going to have? yeah, this is, this is a long history. if you go back to looking to few months after world war 2 began, the west was, was concerned about commodity supplies, supporting not germany efforts. and it even led to france and england considering bombing russians, oil fields, and other bizarre to stop them supplying oil to hit germany, us good allies of the soviet union and the russian time. and there was talk of sending troops across sweden to support fennel into this battle against russia and

to stop the idle mines and sweden, supplier, and nazi germany. so this idea of trying to interrupt commodities in some way to, to impact war efforts on the part of the aggressor got a long history of the question. big question here is, firstly, can it work? and there's a lot of doubts about this price comp. as to whether it can work. and the 2nd question is, will the russians still supply all sort of 10 or $20.00 a barrel price that's being talked about? i'm not looking for the $60.00 royal when ever the last 510 years with us. so there is to be a question about the russians may say, well just by me on the supply becomes price. well price. and the problem there is this really undermines binding chances for reelection in 2024. but us presidents, you lose elections, you don't get reelected. it's always because of a recession,

and that prospect is real. so i think by just trying to say this job, i'm start rushing more effort. i'm getting support is got, but it's very difficult to see how this is how effective it can be. right. i mean, we've seen the war in ukraine, sending energy prices soaring pretty much globally. how difficult is it for members to sort of minimize the economic damage around the world that's been caused by these raises? this is extremely difficult, especially given the scale of the fiscal that's already happening because and i'm with the face miss high offering any further supports the economy for so problematic. so it's, it's really tough and the answer would be you wouldn't want to start from here. 2014, we write that germany needed to, to catch its gas dependency on russia. since 2014 gast pendency is risen.

i'm sorry it's, it's not something that could be sorted out in 6 months, and the $270.00 also pledged are they satisfied rather 2029 and a half $1000000000.00 in assistance to ukraine this year to help close its financing gap. what might this look like? but i imagine there's going to be some combination of use for us funding. i'm getting involved be some debt forgiveness along the way. i've come to the military a stream expensive. i, tony not, not going to be enough to support you. try and maybe see if there's not enough on multi basis. so i think that's going to be a long, long period to support people talking about comparisons. marshall a plan and that went on the years us support in europe after world war 2. and it's going to be a multi arrest with ukraine. and we also heard from the g 7 that they want to raise

about $600000000000.00 within the next 5 years. that's for global infrastructure. what do you think this means? well, i think there's a number of factors that play it 1st is going to be a bit of double counting. i suspect that probably including the 300000000000 euros of b u global gateway, which is about supporting infrastructure. and supposing kind of renewable energy, i, suspecting mine to 50000000000 or so in the i mass resilience trust the news kind of fund this been set up in the special rights. and that's supposed to be long term financing to help countries achieve more renewable energy choices. and i suspect the west just is looking to diversify that dependence on russia, russia, oil and gas, china, the solar panels. i think the west would like to see the infrastructure in place, the factories outside of china that might produce cheap of solar panels of the

world needs to, to make as fast as shit to renewables. you were saying just a moment ago that the 2929 and have 1000000000 pledged for ukraine. in your opinion, it doesn't go far enough. what about the 4 and a half $1000000000.00 that has been pledged to address food security issues around the globe? is that enough? well, it's, it's, it's a drop in the ocean and compared to, to the cost of food right now. the where i think it might, that may be different is we put out piece a month ago saying that the ashy global. we stocks are extremely high. and even if you assume that you crane can export nothing this year or next year or in the year, you could still justify we price falling. and i think what we seen in recent weeks is the market begin to realize that, that the ukraine's difficulties using and grade are not rushes problems. i think

rushes export ban will, will ease soon. russian and india to fight export be supplying weight to egypt, which is one of the biggest consumers i, i suspect that we can see prices still come down substantially even without the g 7 . so much so for now, it doesn't go very far. but i think the global supply story for weeks is a much, much easier story for the world type oil situation. and what about those rising inflation numbers that we see globally, i mean, inflation here to stay. and if so, for how long that's done a 1000000000 trillion dollar question and i don't have the right all, all, i think i was reading this morning, which is very relevant to this is that if inflation doesn't come down in the 2nd half of next year and in 2023, i think the market is going to be deeply disappointed. i'm gonna have to get,

get rid of the idea that the fed could be cutting just rates already sometime next year. so it's, it's really a bond between economy as well as, but by reelection hopes in 2024 that we do see inflation come down in the next 6 months. all right, charlie roberts and we thank you so much for speaking to us from london. thank you . very much so as we just mentioned, a spike in energy prices bought about partly by the worn ukraine has hit the cost of living for millions and experts don't see a drop anytime soon. our correspondence in berlin, germany came, sent us this report on how some parents living in europe, the largest and strongest economy, are going hungry. so their children have something to eat. nicole good, la, prepare as food for her children. they have been at school all day and now back at home, they're hungry, but if their needs are simple, their mother's task is not because putting food on the table is becoming

increasingly more expensive. so basically right now with the, the full price is going so high, it's either spending $2.00 or 3 times and, and the, and the amount of food or buying the, the amount that i could afford. and then we have to eat less food. so mainly it means for me buying less food and i'm the one who is going hungry or not the meal so that the kids can get enough food. and that sort of stress has serious implications for her. and for her children. it's very hard on me because and it causes a lot of stress. i'm always worrying. sometimes i'm not sleeping because it's like how are we can eat to morrow or what am i gonna buy this week? what am i feeding my kids? or even how is it gonna be in the next months? rising food prices have implications for others to use. you to ha tanto runs of egan restaurant in berlin's prince lauer belk district. the lucky leak has won a higher claim from the mission and guide where the reputation for fresh and

seasonal fir, with a personal touch. but maintaining those high standards with ever higher prices is becoming increasingly difficult due to it. we have other increasing prices for like basic ingredients, food and oil, everything. and of course it's a struggle. so for example, i had to remove my deep fry because i couldn't get oil any more to suit simple things and the dye. lemme does not stop there, because the restaurants overheads still have to be paid every month. meaning some hard choices have to be made. all my suppliers increase their prices. so when i checked my booth, i was like what? yeah, and of course ed to compensated in some way. and the only way was to increase lay um the prices for the menus a little bit. these increasing prices are happening in many sectors of business and industry across germany at the political level. many say the war in ukraine is

fueling inflation, combining a spike in energy prices with a drop in the supply foodstuffs. the chancellor says he knows it's hurting his country. $1000000.00 millions of citizens ask themselves every day. will my money be enough? amana will be enough at the end of a month for us. it is a very serious questions, questions which need a clear answer. the government has initiated extensive relief measures for citizens, young and businesses. one short term measure, the german government has alighted on is cheaper public transport throughout the summer months for a flat rate of 9 euros, or around 9 and a half dollars each month. passengers can use local and regional buses, trains, and trams to travel anywhere inside germany, but some in the transport sector believe such short term schemes are not the answer to spiraling prices. there were cuts to in the tax on fuel, but just

a few weeks later, the prices at the pump are close to their pre cut level. such spiraling prices are common across europe, right now. this was a protest by pensioners in athens. the common factor rising prices and no rise in income as piss shenise, we are facing a lot of serious problems every day to the inflation at the supermarket at the gas station, we get our patients and within 5 to 10 days, the patient is gone. this time to go on that e u summit. and again at the recent g 7 summit inflation has been discussed and it's clear leaders are trying to say we feel your pain, but it's also the case. central bankers say there seems to be no quick fix, inflation will remain dishonorably elevated for some time. however, moderating energy costs, the easing of supply disruptions related to the pandemic. and the normalization of

monetary policy are expected to lead to decline in inflation. but some analysts or not so shaw and believe the markets tell their own tale. almost all asset classes are in the read at the moment and one can really feel how people don't trust the central banks anymore. you get the impression that the central banks have reacted way too late. the last time inflation was this high, was back in the early 19 seventy's when this wall fill divided this city back van a phrase was coined to describe the combination of stagnant economy and rising inflation. stagflation for now, ministers say the threat of a return to that era is distant from now dominant cain for counting the cost in berlin. she 7 leaders decided this week to ban imports of rush and gold sanctions brought in. since the war, new crime began have aim to crush russia economy and have included bands or curbs

on oil and gas imports, as well as trading with russian banks and individuals. gold has always been seen as a safe haven for investors and many turn to the precious metals to protect their hard earned savings as record inflation hit. other investment vehicles, global demand rose by more than 30 percent on the year in the 1st 3 months of 2020 to russia as the world's 3rd largest producer of gold. after china and australia and commands a 10 percent slice of the world's output. gold is its 2nd largest export after energy, and it's a significant source of revenue for president putin. the g 7 hope this latest move or isolate moscow further from the global economy. last year, gold made the kremlin around $19000000000.00. so how will this latest move effect russia and the wider market as a whole? to discuss all of this, i'm joined now by curial kirilenko. he's a senior analyst with the c r u group and specializes in precious metals such as

gold, platinum, and palladium. welcome to al jazeera, thanks so much for your time. so how significant is this been on russian gold given that gold is its 2nd largest export, as you know, after energy. and gold is an important assets for the central bank, which is already operating under limited conditions around $50000000000.00 worth of dollars were exported to to london last year. so, well basically, russia what lose, what are the potential source for its military budget. and it will try to secure the money and raise them from other sources. what sources, what do you mean by that? like home i'm coming from other markets. ok. no, just the market which was effectively already closed while the rushing gold in. since marshall other markets, who could russia turn to?

russia would turn to asia. why did a lot of countries in this region on not supporting functional list? well, now i think africa and latin america are also many congress doing the western sanctions on this country. global london is a big international hop. what trading? there are other markets where gold can be sold. all right? decision by the g 7 will affect the market as a whole, and if not, why not, you will good lives. producing gold at the moment will be stopped. there will still be plenty of metal in the background stocks from the factors 5, the market needs. so in a sense, there is no physical shortage of this model and it can be bought. why, for example, if the, if the functions were applied to the exports of the li do that would be

a different story. because palladium is in short supply the backgrounds books are low and that will have an impact on the, on the markets. right. for this, the motor talk us through why the public and investors, bye bye gold, the commodity? well, the public buyers is it for 2 reasons, the dose in the form of jewelry. it looks nice to feels my ramos social status and the 2nd one. you can also buy jewelry as a for more wealth protection. so if it's liquid, it's easy to sell later on. congress like india for example. so there will be a lot of savings and investors by gold because it's received the kevin status because basically it holds its value. so or capital perfection. gold has proved itself over centuries that it's one of the best

acids to meet these goals and for central banks, why is it that central banks by gold? i'm sure the banks by gold diversified them foreign exchange reserves. so basically because gold gotten told any in our counterpart risk, so there is no one will go both by bankrupt. for example, this promotes list the role of this mental or central banks. i mean in the periods or increase market will actually do political ability. gold is also a good source for media. and as we noticed lot, yeah. and the year before, some countries are actually using their goal reserves to raise money to want them back in programs. so if you would put your spare money right now, then where would you put your spare money? seeing is it such a jittery, uneasy time?

well, i would probably keep a certain portion of my savings in gold because it's still white. well, it in different currencies. this year, not probably in the us dollar. it's only up by about one percent. but in the counts, it's like, for example, the euro, british pound gold because delivered robot performance over the last 6 months. thank you so much. carol kirilenko really, really appreciate your time with us. thanks for speaking to us from london. thanks very much. that asian, a delegation from the international monetary fund has been in sure line call for talk to the government on how to help the nation move forward. sure lanka is looking for health as it goes through its most intense depth and economic crisis. in decades. a shortage of foreign exchange has left it unable to pay off loans and import food, and medicine plus petrol pumps have almost run dry. richie decides is now to

discuss the latest developments in sri lanka. he's a fund manager, asia frontier investments over in hong kong. welcome to al jazeera, thank you so much for your time. how much trouble is there like a really in? well, actually the kind of trouble, so i guess the comic and part of the building up not just so the last couple of months is the combination of the pressures that the country has been facing or the last 2 to 4 years. if you look at what's been happening to 2018 at the end of 2018, that part of the crisis prime minister to there was no, there was a temperature the by minister at that point in time. in 2019. the system that affected it was in sector the all important in sector. and of course it's 2020. you have the member to for the last, maybe 2 years or more. and i think what's happened the last couple months with the board and you've been which is impacted both or prices in which obviously that was probably the final out in, in,

in the country. even the pressure that they were facing. so they mentioned in 2022 in a very big economic footing. and you can just push them into on time, right? and there have been negotiations going on with the i m f. what is the i m f going to want to see for a lanka in terms of a change in its policies, in terms of what i wanted to see. i guess a lot of the economic measures that she has taken the last couple of months has led to the sort of talk to the american domes of a 40 percent since march to 1022 and just by $700.00 basis points and with your prices but of course, you know, just initially measures a lot, a lot of money to be done in terms of having sustainable financial or for the country terms of reducing of it. so the, i would really want to see people back 70 measures on the,

on the revenue and also the government putting the on expenditures. and that's what they want to see. although we didn't belong to not just the next 6 months. right. ok, it's also received pledges off between $300000000.00 to $600000000.00 from the world bank enough to buy medicine because of course there are incredible medicine shortages in the country. is this enough really $3000000000.00 so it's, it's ok to maybe meet your expenses for the next couple of months of a couple of photos for certain items like food and medicine, but this is not enough. i mean, they would obviously, i mean if you look at what the government is saying that on the board meeting about 5 or $6000000000.00 when they come next next year or so, and 1000 meeting altogether and then, but import declined. and then obviously the need be financing one bank from other countries like india because of the fact that they don't have any punch in those 2 . we bought a few important medicine. so it's very important for the short term, but in the long run, the need something which must have been a bit. right. and in terms of fuel, we know that you're lanka, sending government ministers to russia to try negotiate for fuel pumps in the

country. run dry is this is short term fix or is it a long term solution? do you think that the lies not on the line fuel? because in order for getting paid by the country, so be only going to russia and going to some other countries in the middle east. if your short term solution will come some of these difficult. but i think like i said, you have to send it belong phone plan. and when you know the need to build up the changes of the long term, because you've been a senior country going to me by, you know, buying lawyers shut down a couple of months only has to be a long term plan. and we're right in security is suffering, as you know, like i was also forced to import rice the t crop, which is the nation's top export. devastated. what changes do you think need to be implemented so that farmers in particular can survive and the public and can start to get some kind of policy that just the example of the going to make policy making of the government the last couple of years. and it's not just because of the other sectors which are suffered because of short sighted or avoided solution from the

sheet on the dominant. those that were coming policies, i guess obviously once the church includes the funds come in, they can build up watching those bring back some economic stability and then they can have more rational lands for the farmers and also the food itself as well. ok, thank you. so much returns or sorry for speaking to us from hong kong. thank you for having me. that's our show for this week. get in touch with us by meeting me at a g and use the hash tag a j t c. when you do, you can also drop us an e mail counter the call that al jazeera dot net is our address. there is more for you online at al serra dot com slash gtc website. it'll take you straight to our page, which has individual report links and higher episodes for you to catch up on for this edition, it's counting the cost. i'm getting of a gauge of me and the whole thing. thanks for joining us. minute on our 0. ah

frank assessments, it sounds like you don't expect anything to change the problem in lebanon. it's actually structural lebanon needs and use social contract for it to solve this problem. in depth analysis of the days global headlines inside story on al jazeera e, my values was brought to when a site is from the northern province of chuckle when she was a child, she's a member of the comm indigenous community. her family was escaping poverty. she says, discrimination has been part of her life last month in argentina, some survivors and descendants of the com and mccoy people took part in an unprecedented trial of a case that goes back nearly a century ago. the trial for the massacre in that by the shows the serious abuses that indigenous community stafford in this country. only 1000000 of the 45000000 people in argentina considered themselves defendants of the original indigenous

groups. most of them live in poverty and continue to fight for survival. argentina has long prided itself if i, you repeat heritage one that often neglected and persecuted, indigenous groups. trial of not by piece a step to revise history and give indigenous communities the place they have been denied for too long. ah, i'm on the inside and so here top stories on al jazeera police in the us have detained a man in connection with a shooting out a 4th of july parade and chicago. the 6 people were killed, more than 30 injured when a government open fire from a rooftop in the suburb of holland park. president joe biden has condemned the attack as senseless shebra tons. he report police should release this voter of 22 year old robert crow. the 3rd and the make and model of his call late sunday

afternoon. a few hours later, a police officer in north chicago spotted the car and following a brief pursuit criminal was taken into custody. first of interest.