can impact humans. another one of the groups of species of the report showed is really at risk is fresh water muscles. these are not species, most people get excited about, but they play really important roles within the ecosystems. they're what filters the water and keeps it clean. if you care about going fishing with their son or your daughter, you're going to care about having clean dynamic rivers. the fish that live in those rivers depend on that, that ecosystem service that those muscles provide. the report says there are nearly 1250 plants in the critically impaneled category. the final step before they come extinct and reset to say, the government needs to step up with more money to create safety zones and protection areas. before there's nothing left to protect alan fisher, i'll just either ah or less of a quick chicken. the headline turn out is era and rescue. operations are underway

across southern took in parts of north and syria. after 2 powerful earthquakes hit the region early on. monday, freezing, cold temperatures, rain and snow, a hampering rescue efforts after sops continued to shake the region. at least 2900 people have died in tokyo. while in syria, the quake struck the cities of aleppo, hummer and de takia. at least 1500 people have been killed there. the quake is piled misery on millions of display, syrians still living and makes shift camps after 11 years of civil war. sim costello is falling 2 elements from a stumble. there are areas are that the rescue teams haven't been able to reach and some of them are in the rules. all those attend cities that have been affected by the earthquake, but city is like hot eye on top. get your kids southern as city border with as syria and of the i'm on a one of the cities that was strongly hits air by yesterday's earthquake and are in trouble. and because the air, the air, the highways are a broken, they're cracked,

air rescue workers weren't able to reach out properly to those places. the european union and the united states are among those sending international aids to turkey and syria after the turkish government appeal for help. navy, 20 search and rescue teams, including firefighters and humanitarian aid organizations, are being sent from the e. u. rusher is also sending rescue workers to both countries, and israel says it's ready to send emergency health to syria. the body of former pakistani president purpose missouri has arrived back in karachi ahead of his sooner or later on tuesday. he died on sunday at the age of 79 in dubai, where he'd be living since 2016. russia's foreign minister is heading to marley on his 1st official trip to the african nation, or the visit from sir gay. leverage comes a day off to marley expelled the head of the un un human rights mission. at russia has been looking to african nations for supporters relations deteriorate with the

west over the war in ukraine or upstate with all the news here and now dessert got more coming up. right after got to the cost. scores of afghans have fled their homeland since the taliban takeover in a specialty heart report. 11 east to women, to turn in to build new lives far from home. on al jazeera, i hello on the clock. this is county the call center al jazeera. you'll look at the, well, the business and economics this week. europe's population is aging, and france is among many nations struggling to keep retirement schemes afloat. so

should work as retard, much older, and who put the pension bill also this week, rising interest rate to straining the budgets of countries already in debts. egypt and pakistan are among nations butterball to default. will they implement much needed reforms? and india's business tycoon, go to a donnie last billions off to fraud planes by u. s. investment firm. we explore what's next. the donnie empire. ah, said europeans are living longer, and as a continents population grows older, the number of people who contribute to retirement schemes shrinks. and that's pushing many countries to reform their pension systems to balance the books in france or proposed bill has proven hugely unpopular. the government says that increasingly retirement age is vital to prevent the system from going bankrupt, but unions and left wing politicians. they are not convinced the control receive over the reform centers on raising the retirement age by 2 years to 64 by 2030. the

bill would also increase the minimum number of years that people must pay into the system to get a full pension from $42.00 to $43.00 is it also include an increase in the minimum pension to around $1300.00 a month, and allows those who begin work yet younger ages to retire earlier, we're more than a 1000000 people touch the streets for the 2nd nationwide strike against the pension reforms. reforming the social welfare system is a man or mac cron signature policy and he has defended his plan as essential. we spoke to joe all a taxi driver. nearing retirement in pers. business was on these oh, i am 70 years old. i've been driving taxis for 42 years and if all goes well, i'll be retiring in 2 months. however, you also thought i work 11 hours a day. sometimes i tried to the saturday morning as well, but it's not always easy if you want family time. i think i'm young on i was happy

working as the taxi driver. i organized the hours to suit me. i didn't think about my retirement mercy or not. but the things changed with the pandemic and the crises that follow it. we had days with barely 20 percent of our usual turnover. she all, i did the calculations. i'm a patient will be about a $1000.00 a month. my wife and i are going to struggle to make it to the end of the month. she get several, $320.00. so we want the children, so she didn't work much. and when she did, she was miserable. she was exploited more than anything else. so i'm very curious briscoe. i feel sick to my stomach because now more and more i am confronted with real life. i am approaching retirement and it feels like it's all been for nothing . some people were, i am a skirt, but they say to myself, fortunately there are these reforms and they will increase pensions to $1300.50. i have to say, i am almost happy because for me that's an extra $270.00,

which is something. but then to make people work for longer is all use. obviously, everyone knows that if you have to, you do it. but you have to be physically able, you have to be strong and he's not easy. it all depends on the job. and many job psychologically or emotionally, dis, 3 you did, and then you need to find or keep a job. if you're already 5055, your salt is difficult to find work. so i'd almost 70 can't imagine you go to the recruiters and when you tell them your age, they say sir, it's time to start working. and i think there right is time to stop. although i did of holy will, in fact, frances retirement age is among the lowest in europe. the country spent around 14 percent of g. d. p on state pensions in 2019. but it is italy who has the most generous system. spending almost 16 percent of his g d, p on pensions. and that's followed by greece,

which plans to increase pensions this year for the 1st time. in more than a decade. germany spends almost 10 percent of its g d, p on pension, and it's among nations lifting the retirement age to $67.00. the u. k is reportedly lifting it to 68. iceland spends the smallest amount on retirees in europe at 2.9 percent of g d p. yet it is ranked among the top 3 systems. well, joining me now from paris as if he bit vista, who is the director of the economic research department at ostrom asset management . philip, welcome to the show. at the 1st thing, even if france raises the retirement age to 64, that still lower than many developed economies say why such up rule why it's a, it's a very complicated situation for us. you know, the question is, why do in your retirement reform now, or we have had the bond to make where the surgeon position. and so it's a very,

it's probably not a good moment to do that. though the 1st rhythm, the soon reason is that there is a strong political, a reason for that because the opinion on my court, i was not the majority of the national family. and it's her way to meet its power. uncertain as a reform that will take place probably is her her probably not well as, til in a way for people who will retire rapidly or will or will have to fund postpone lamazzo the age of retirement. so if you are 60 while, if you are 55, you have to work longer. not usually in the retirement reform. it takes time for, for drains, then it's due to changes creation. so that's, or the reason such,

make the year a, such are right with the currents in france, right. the thing is, money has got to come from somewhere, isn't it? because if you look at the c, d says that france has very high expected years of life in retirement at ranks 2nd in men at 23 and a half years. and 3rd and women at 27 point one years. and that's compare across the continent. and someone has to pay for that, the money has to come from somewhere that people need to keep working longer than many people agree on reducing to land. so from the retirement period and working longer, but and so there is no really, there is no discussion there on the side of the sport. there's $22.00 discussion. one is why do we doing it now? the 2nd is, does a former retirement re fall as it was bought a 2014? i'll just take a break in 2020. 0, can we manage as is to reforms of former one,

which here which will continue on probably we like to write a new one as complicated says, what's your answer to that? what's the solution? what should the government solution is to probably love doing it clearly. now it's not necessary to do it now, even for, for budget reasons, for budget bounce reasons, it necessity now as the question is on wish permit or do we, do we play on you know, in retirements? can you hugger a 3 parameters, the number of your contribution, as a neighbor of the pension for retirees, as a level of contribution, that's for the 3 parameters? and the question is, how to, to, to mix all of them. the government says that lifting retirement will help at racy

employment rate. that's going to be good thing. we have to demonstrate that it has not been shown everywhere. the world is complicated. no, in france, people above 50 years or other very low employment rates are for many reason to change and we have, we have to which is free form. we have to have a god to make how this improvement dreadful, the people, edge above 55 will increase die. nothing about that. so that's a very weird situation as the re full since to be not put any compared to do you know, as you start to wait, we are not sure that the situation is a, are all willing to all of the reform have been worked on. definitely. so that so that's why it's complicated. and one final thing, it struck me just this reading 3 isn't some facts beforehand that we talked about.

iceland, 3 percent, just 3 percent of g d, p spent on pensions yet is among the best games in the world. how do they make that what their countries like iceland, lighter than mog, it's a very specific retirement scheme in tears. 5 that it's very small countries, nuts as diversified as the price. so it's easier to abby, we're kind of consensus on the different topics and the retirement is one of, of it. and so it kind of put it to agreement or we can have, you know, small country, not in large countries like france o, f innovation, appreciate that. thank you. thank you ah occurrences sinking to record, lowes dwindling foreign reserves and ballooning debt. like many developing nations, the economic crises in egypt and pakistan have been aggravated by the war ukraine,

but other factors have also had an impact among them. the role of military run enterprises in the economy and investments and big and costly infrastructure projects. egypt has a population of more than 100000000 people, one 3rd of them live in poverty. they can't even afford basic foods like eggs and cooking oil, which have doubled in price. the country impose import restrictions and banks limited foreign currency withdrawals to try and conserve scarce dollars. paxton is also struggling with rising inflation, and it's facing an acute balance of payments crisis with less than 3 weeks worth of import cover in it's a foreign reserves. egypt and pakistan have both resorted to the international monetary fund to help ease their financial problems. cairo committed to reducing the military's role in the economy as part of the $3000000000.00 i m f package. it also agree to move to a flexible currency exchange rate and slow down public investment in national

projects. pakistan has also taken steps to revive it's stalled $7000000000.00 fund . among them is easing control on the currency and hiking up petrol and diesel prices. okay, from garage young join not by act. as ive sally's an assistant professor of economics at hobby university that i missed, i felt welcome to the program at 1st tell us more about pakistan, an egypt situation, the similarities and how they've reached this point. well, thank you for having me on the show. next. they can amik crisis in egypt and pakistan has many similarities. first of all, both crises came about in the immediate aftermath of the cities between russia and ukraine. and you might remember that this crisis led to a commodities super cycle. in the case of egypt, there was a massive capital flight of about $20000000000.00. and then egypt was importing very expensive because it's one of, it's actually the biggest cedar imported in the ward. and those prices went up in

the immediate aftermath of the russia, you can conflict in the case of pakistan, elevated oil prices lead to a classic balance of payments crisis. and initially, pakistan tried to deal with it by freezing imports, but very soon both countries are forced to turn back to the i m f for assistance so that the i m f could assist them in stabilizing that condoms. so the efforts that both countries have now made to try and minimize the risk. well, they work well. yes. and no. the efforts that were made by egypt pragmatically, by turning to friends the out of countries that order in about $13.00 to $15000000000.00 into the egyptian office. initially it worked, but later on it did not work because they then had to turn to the i m as in the case of pakistan. again, pakistan tried to freeze the exchange rate so as to get

a handle or were imported inflation. but they realized that because of this policy decision and because of the overall political instability and pakistan in flaws basically right up. and they were also forced to turn to the i m f for assistance when it comes to the valuations. why was it necessary to do that and how hard was that for people on the street? well, the basic reason has to do with the conditions of the i m. s. that requires exchanged aid in both egypt and pakistan to be determined by market forces. and yes, it has been extremely painful for people. common people in the case of pakistan, inflation is already topping out at 28 percent, which is highest in 50 years. mind you, in the case of egypt, inflation is stopping out at 25 percent. if we look back at the case of pakistan, this massive inflation highest and 50 is also was large. this country has seen in

history pakistani on the miscalculate, this is going to push an extra 20000000 people into poverty. so this is going to bring about a lot of issues in terms of social unrest, more political instability, and regulation. egypt has committed to reducing the military's role in the economy . will that happen? will it work? well, the i m f has asked specifically for the egyptian state or the military owned businesses to you know, to extricate themselves only to strategic sectors. i think this is not going to work in the short term or the medium term because when it comes to egypt, almost 2 thirds of the g d. p is connected with state or military on businesses. and this creates a number of different problems for egypt. for instance, it mitigates against innovation and growth. many private sector businesses don't

want to compete with military owned businesses because these businesses have thanks and the quarter doors above us. so this, like i said, mitigates against innovation and growth. if egypt were somehow to, you know, get it, get its military out of its economy only by a few percentage points. i think that would open up the space for and to put no ship for innovation and for more growth. since it would give that the private sector more opportunity to get involved in both countries. right. that's right. so in the case of pakistan, i mean, which is somewhat similar to you know, miller trees footprint. it's also very expensive in pakistan. the military on serial breakfast cereal, factories and fertilizer factories. but the military's economic footprint in pakistan is not as expensive as it is egypt. of course, they have been criticisms for or on the miller trees business connections or being

bake. and for the fact that they allegedly pay less tax. so the situation is somewhat similar between egypt and pakistan in terms of the military or the state footprint when it comes to the economy. similarity also in the way that both countries pull billions of dollars into making projects. it does that kind of investment work? i think that's more true in the case of egypt where you know, this massive amount of money on billions of dollars have been paid, have been bored into various vanity projects in the last 10 years. so any where from a new administrative capital to cities in the desert, what this has done is that this has not brought actual foreign direct investment, which would have created jobs. and would have been a more sustainable source of hard currency. as opposed to that what, what, what this does is that the brings about

a classic balance of payments problem and mitigates against growth. as i mentioned previously to you. as far as egypt is concerned, human rights watch is one that the i m f deal. i will leave a 1000000 the economic rights. millions unprotected. do you think that's right? that is the case. i think that that is definitely going to these the i m f. petition allergies are definitely going to push more people into poverty just like in baptist, on buckets. tiny parliament stuff calculated that almost 20000000 people are going to be pushed additional 20000000 people are going to be pushed into poverty. so i think this is a very serious situation. this is going to create political unrest in both egypt and buckets. at least in the case of pakistan, the i m f has been somewhat supportive of this man's name welfare program or social safety program, which is the benefit and from support program. all right, we'll have to leave it there does have so appreciative,

i think. thank here. now in the is a dining group has built a fortune with investments across ports, airports, renewable energy, and other industries. but the business empire has recently lost billions of dollars in stock market value. it's founder go to madonna slipped from a list of 10 of the wealth, wealthiest off to fraud allegations against his companies by a u. s. investment firm. the tumbling value of a dining group is fair to have broader implications for indian markets. for outcomes after hindenburg research released a report accusing the tiny group of engaging in decades of so called brazen stock manipulation and accounting fraud. the firm dismissed the report as malicious and accused hindenburg of a calculated attack. the american firm says that a don is extensive rebuttal, obits report, ignored, important delegations, and was obligated by nationalism. let's take this on to discuss all of this. i'm joined now by the pankey man who is an associate professor of economics or a page in global university and director for new economics studies. so the pension

mahan, welcome to the program. at 1st up a donnie is a big, significant company in india. what happens here is a big deal, isn't it? yes, absolutely. nick and a, one of the key things we need to know is that, and on he has been the boss to boy. india is bay aggressive of ballistic with iran body lily from ear drainage, wendy. i mean, his company's profits of sort like no other company, even the lawn mosque of death. laura jeff bezos of amazon have never seen the neck, would go up at this piece. and on his neck, what was somewhere around 9320000000 in september 2019. and this increase to 150000000000 september 2022. so it's a remarkable rise for any business person in india, asia, he is the founder of one of the largest ot operator in india, and more importantly,

his business right into the money government is big agenda on infra investment spending. any highways boards, including for the infrastructure investment, you've seen the government making across most of in logistical investment. okay. because it's hugely significant clearly. so what are the implications of this, and is there a danger of broader financial contagion? i think looking at what we see right now, we do see that as a business of defense from the stock market really responding in something that happened over the last week. i wouldn't be on the side of caution by saying that the not the stock market trends. why don't they have gone missing with what's happened to the stock market share value collapse and probably the you're not going

to look at a provider financially contagion. one needs to be mindful of what's happening with businesses that are connected and have less money to be as you go. i think that's a lot of the problem is really live and but the information be how i think the next few weeks of life. so finding an insurance companies and so forth. absolutely, absolutely. because the boarding strategy for these are the group in the last 3 years, particularly as been looking beyond domestic bass. they've been having fun with these mostly in the form of bonds. and the band funding in india has been restricted, locked in a 3 years. so there's a lot of exposure in going back to it. but more importantly, this is going to be in the bottom picture really becomes important. the group has chart says not on the phones stop doing cash, but dani shows focus on international buyers. so whatever happens with the

positions exposure dani group for external international ones would have gamification on the company and in been stock market. now, as you mentioned, the dani is closely associated with their end remote east india elementary and see how the prime minister handled with. so, so far we have not really heard the minister, of course, and much of the government ministration and the popular mainstream media has not really picked up on the news. i've the same time. what you would really see is that the movie line as being delivered to the government's business strategy in the last 9 years, the line so, so i was just be, we'll be back to withdraw. that is the prime minister's on state. and one of the things that need to be more importantly, i think is the one the gothic linkages and grande, a property that you generated boarding structure on which most of all these book order and policy push has been pivoted. so my sense is that the government may want

and the opposite. you may expect that to happen a full independent examination to say b and maybe even a panel to look at the negations, put forward by hand in both at the same time. also look at the boy, didn't banks with that, and i think the senator by because i want to be put in an inquiry and this would be be downing or benting as opposed to be is that force finally to punch in briefly if you would, what do you make of the allegations and why do you see this heading? there are 2 reasons. one is donny was to be the writers in pushing for private investment across sectors. in india. anything happening to the company is big data on the government policy agenda investment. the other thing, the underlying indicators, if you were to see a private investment in india,

domestic and foreign has been paid by 9. you know that the government is not the best of private investment really pick up. and when you have a big company like a donnie's piecing a stock market collapse in the show that you'd like to really have seen in the last week. this will discourage many foreign investors to portfolio investment to put that kind of money in india. this is, of course, a lot that has to do with the external situations also, but the not going back then. so far we shall see how it all unfolds depends. you man, appreciate that. thank you. so there is, i'll show for this week if you'd like to comment on anything you've seen, you can treat me nick clark, al jones, please use the hash tag a j c from the c, or just drop as an e mail, counting the cost algebra dot net is our address as morphy one line of course. so delta, georgia, dot com slash and ctc that will take you straight to our page,

which has individual reports linked an entire episode the new to catch up. so that is it for this edition of kind of the cost. i'm a clock from the whole team here. thanks for joining us. the news on algebra is coming up. the ah formed opinion far right extreme is there is really an meat to be tackled as soon as possible, frank assessments. there was a joke about the interim government that it's not in for him, nor does it go inside. story on al jazeera

bottle of in cameron's rivers come on england. st. plastic is everywhere. but if local is can be fishing boats and bubble gum, wellington b. what the moral can be done with this plague polymers. earth rise, re imagining class day on al jazeera. ah, 11 o'clock into all the top stories here on al jazeera and rescue operations are underway across southern turkey and pots of northern syria. after 2 powerful earthquakes hit the region early on, monday, after shots continued to shake the region. at least 3900 people who.