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tv   News  Al Jazeera  March 20, 2023 2:00am-2:31am AST

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had i saw you dog, what was something that family expectations volleyball, dreams, i'm out to see him. the reversal of abortion rights in the united states has emboldened a fierce campaign against progressive liberal values in europe, threatening individual freedoms, considered by many to be the backbone of malden democratic system. this people empower, investigates, a global coalition of evangelical christians far right. politicians and russian poly galks in defense of so called christian orthodoxies. europe's new moral crusade on a jazeera ah, it. this was spanking john's u. b. s. as buying troubled rival credit suisse in a state bank deal to avoid market turmoil. the federal counselors convinced that
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u b. s take cover of credit space has laid the foundations for greatest stability, both in switzerland and internationally. ah, until mccrae, this is al jazeera alive from doha, also coming up president potent welcomes, what he calls china's constructive role and trying to in the ukraine war head of shing. ping's visit to moscow. mending ties around president will comes an invitation by the king of saudi arabia to visit viet plus. i am, pardon me with that and losses on west delaware. sharp on an onion prices has led to a huge crisis farm with lim, this on climate change and government policy. ah,
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this was government has persuaded u. b. s to been struggling rival credit suisse for just have a 3000000000 dollars in the latest effort to stim market turmoil that began a week ago with the collapse of silicon valley bank. and the you with the swiss national bank says it will ensure both banks have access to the necessary liquidity to underpin the deal. soon after the swiss announcement, the u. s. federal reserve, the european central bank and other major central banks came out with statements, assuring liquidity in the markets. on friday, the liquidity outflows and market volatility shows that it was no longer possible to restore the necessary confidence. and that the swift and stabilizing solution was absolutely necessary. and the solution is the takeover of credit histories by u. b. s. it is supported by the for the right on sil, following several meetings with the national bank. we've our regulator or the fin,
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not with credit stories, and you'll be as pretty about account. she welcomes the stakeholder and is supporting it by guaranteeing the framework conditions necessary for its success. a poor print and has been following developments from london. it's been a really tumultuous and frantic few days in the international banking sector pretty much, ever since weapons day when credit suisse was extended, a $54000000000.00 credit line, which it was hoped would keep the bank going. in fact, it failed in not attempts. and last week, credit suisse were seeing deposits taken out of its coffers. the rates of some 10000000000 swiss francs every single day, a real crisis of confidence in the stability of that bank. now the news conference that's taken place on sunday evening have outlined the problems and the options. and frankly, they said the takeover by
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u. b. s. was inevitable and unavoidable. and the idea that this was a bank that was too big to fail has come up again. and again in the news conference, there was a whole raft of senior executives in that use conference. and some of the quotes are as follows. the finance minister saying that the top priority was to protect the financial sector and also switzerland's reputation for international banking. the president said that they believe that they come up with a very strong solution to a complex situation. and the u. b. s. chairman, who is the person who is going to be helping the new entity coming out with some very strong, very reassuring quotes. saying that this was an integration as opposed to take care of a enormous opportunities. he spoke calls that u. b. s will remain rock solid. now the importance of that is to try and reassure
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investors are cornelia maya is an economist. you joined us from been in switzerland . thank you very much for being on al jazeera. how necessary do you think this deal was? well, i think it was absolutely necessary and it was the best of very few solutions that i deal solution, but it's the least best solution. um, you know, the other solution would have been to let the bank go box, which have a huge ramifications both in the global financial system and in the slits economy as a whole lot of the financial sector and or the state ought to nationalize the bank . so this was the most elegant, and the least solution. do you think it's going to quell the, the turmoil, steam, the global crisis of confidence in the banking sector? what i hope it will stem that at least the, the confidence in the lease,
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you'll be asked for the foot system. but you know what we're seeing on the, on the other side of the atlantic in the us this, there is quite, quite a bit of rumblings, but the disciplined him made sure. because if you look at the u. k, the sweets that well up at the lice and on pill. so many of the pulses went out and they were also, they also have no liquidity issues. you look at the, at the banks in the us will have issues. they have issues because of liquidity concerns because of capitalization. and because especially with s b b because the report the wrong and the rising interest rate, that was not the case with these fees. okay, well what do you think this is done to the a credibility of the swiss banking sector? d. thank well, it's no good. put it this way. it's, it's most helpful if you a 2nd much us bank,
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which is my teeth too big to fail. banks in the global banking system can go down so quickly when might that's clearly not good. what i would also say on the other hand though, it shows that where the regulator at the national bank and the, the government work together closely within 4 days, you find the solution. so, so yes, it shows that they found the solution. this is very good. it should never have all these problems. the problem was going to be sweet. it's not just the problem of now it's a problem that has been about in the making since 1990 when the bank bought for a box, which has a profile they could deal with and then they sort of serious. so c o 2 sort of wanted to played big on the old, the international markets not looking at the. d the heritage off the bank. so what
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you, what you saw here with the buy a bunch of scandals, you had a new strategy off the brother jeff the school and nobody ever had the time to implement the implement the strategies they had come up with. obviously, the timing of this announcements and important hit of markets opening to more how do you think that they are going to react? what i owe you? who knows, but i hope age i was opening about now. i hope they will react. well, i mean, it must be a sigh of relief. we all thought actually i personally also thought that when the national bank came out with the $54000000000.00 swiss franc back stop in in on last last middle of last week, i thought that would be enough, but it clearly wasn't so hope this will be enough, but you noted this is going to be, this is not going to be,
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it's going to be tough on you sweep is going to be very top on u b. s. usually when you have such a major takeover or merger, that's something that's in the making switch for many months. and a lot of careful plans are roll them up. that's not the case. it wasn't the clamp town. and then the regulations that we'll put in place after the 2000 and night global financial crisis was in the mid to deal with a lot of these problems and, and i guess stop them from happening that happening again. i think it was you again when i say, when i look at it, you know, and i look at the capital capital tier one, tier 2 capital, you know, you'll be ready sweet. what was well capitalized. the liquidity crisis happened when there was the, when, when there were more and more people at the pulse with the money in the bag with
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drawing them on in the bank. so, you know, no bank can live without the competence of the isn't investors. okay. we'll have to leave it there. thank you so much for your time. that is cornelia maya and economist out of been switzerland. thank you. thank you very much. russian president vladimir person has welcomed what he calls china's constructive role and trying to ins the war and ukraine. chinese prisoners shooting ping will hit to russia later on monday for a 2 day visit. futon says he has high expectations for the talks. katrina, you reports from beijing, she dipping, has visited russia any time since becoming chinese president. his most recent trip was in june 2019 during an economic forum. c will travel there again this week in what's expected to be a major show of chinese support for moscow as it continues its invasion of ukraine . troy, seattle with china and russia working together the world where half of the driving force toward multiple rarity and
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a greater democracy in international relations dollars and a global strategic balance. and a stability will be better ensured the visit comes as china seeks to expand its role as a global leader and mediator. earlier this month, it broke it a deal to and 7 years of strain relations between saudi arabia and iran. some analysts believe it can do the same for russia and ukraine. in february, chinese officials released a peace plan calling for a cease fire and dialogue between both sides. this days, after several months, both parties are exhausted. and yet, the white shoe has the hoary issues. are you trying to get? what do you are considering doing? but other se baiting is reluctant and unable to play this role due to the west's extensive backing of kids. it is great power geopolitics going on there. it's very difficult to, to play
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a mediating role in that context. and i know the stakes are very high. ah, russia and ukraine do not want to negotiate at the moment. so there is very little china can play with. they do live on economic trade with europe and says its impartial in the war, but its claims of neutrality has been questioned. last year, she declared no limit partnership with moscow. expanding trade between the 2 countries has become an economic lifeline for the sanction country. he and put in are also good friends. and i've met 40 times, including on putin's birthday. the united states has china is considering providing military support to russia, which they ging denies. she is reportedly planning to speak to vote him as a lensky following his most go visit. it would be, she's 1st conversation with ukrainian president since hostilities broke out kill says it's cautiously receptive to beijing involvement. but a withdrawal of russian forces from any occupied territory must be included in any
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p. still. katrina, you al jazeera aging. with just one day, after the international criminal court issued an arrest warrant for him, rushes present, led me persian, made a visit to the russian occupied city of mary polen ukraine. the city in the den, its region with enix by moscow last year, put and drove around several districts on saturday and was showing restoration work at a theater and the university mario poll. it was the focus of one of the bloodiest battles of the war. the you in estimates nearly 90 percent of residential buildings were damaged or destroyed, and the russian siege about 2 years of hostility officials and to round. so president abraham bracy has welcomed an invitation by king solomon to visit re add . the regional rivals have also announced plans for the foreign ministers to meet. earlier this month the countries reached in agreements broken by china to reopen
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embassies after a 7 year rift. and a hush him has more from turan relations between. iran is moving fast and they to the uranium press inches on sunday. the king of saudi arabia extended an invitation through, but i am, but i used to visit the president. according to my gym, she welcomed invitation and stress discussed with regular size. now on sunday, also uranium 40 minutes stuff to say, i mean i'll do a show of hearing and saudi relations and threats. and he said that both countries are currently being the news settings and how both foreign ministers could meet mother, mozilla, arab regarding the issue of saudi arabia in the near future. i'll meet the foreign minister of saudi arabia. so far, we have agreed on deploying technical delegations from both countries to visit embassies and consulates and organized practical steps to reopen embassy. over the
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last 10 days, messages have been exchanged between the 2 countries through the swiss embassy. we announced we are ready to hold the meeting and the last message sent from us. we suggest 3 places for the meeting. i mean, like i said, the technical team from both countries out of visiting the capital in order to make sure that the embassies are ready to receive the new diplomats. you also said that relations with ballet and witnessing can you turn whistle thought of all men leaving immigration to divide size. they also welcome the promotion of relations with jordan to the 11th of ambassador and the dialogue taking place with egypt. the actually meant that on iraq and iran have signed a joint security deal and bank dead around the top security official funds. the agreements that involves chord nation to protect common borders. it also called through a strengthening of co operation in several security fields. a silly head on al
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jazeera, more violence in the occupied whist bank, as is rarely a palestinian officials meeting in egypt, agree to work towards the escalating tensions and 20 years since the usa, the invasion, re look at iraq struggling efforts to modernize infrastructure. ah hello, there will start your north america forecast with the satellite image showing those storms pulling in to california. this is the latest parade when windy and wintry weather working its way into the u. s. a west coast. dropping some heavy snow on the mountains. the sierra nevada's and of course the rockies and moving temperatures southward. we got another batch of that. it's going to work its way in on tuesday, bringing some very what weather to the likes of los angeles temperatures here
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continuing to head south, but they will be recovering across the mid west and the deep south, as warmer weather starts to waft its way north. we could also, however, see some severe storms from those air mass collisions running across kansas and misery, but a largely present picture across that east coast. just some rain edging in the likes of florida, but the rain bursts are going to be more dramatic across the bahamas. that's thanks, his legacy of showers, stretching across cuba, jamaica we could see some thunderstorms here, wet weather as well pulling into believe as well as endorse. and nicaragua, further south of us for costa rica as well as the panama, if you showers here and that much dryer and warm, however, across northern parts of mexico, monterey, seeing as sunny $23.00 degrees celsius. ah, in a concert old in baghdad,
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away from the conflict and tales from the war sectarian bonnet since sanction the rocky national symphony orchestra has full to perform classical him. traditional arab music. in the face of all adversity, al jazeera will tell it's challenging story. symphony for iraq on al jazeera lou. ah, you're watching al jazeera reminder of our top stories. the salad swiss banking john dubious, is buying troubled rival credit suisse for just over $3000000000.00. in the state
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back to deal, it's hard. the deal will show up confidence and the global banking system. after the collapse of to you with linda's chinese president, she. she pang is to travel to moscow on monday for a 2 day visit brushes prism platinum infusion has welcome to what he calls china's constructive role and trying to in the ukraine war and up to years of hostility officials and to rom say presidency for him. bracy as well come to an invitation by king solomon to visit re edge. earlier this month for countries reached an agreement broken by china to reopen embassies. palestinians have been protesting in hebron and garza against talks between israeli and palestinian officials and egypt amass which governs the gaza strip, has condemned the width bank both. tell us to nina doroty for taking part in the meeting. the talks were a bit to try and calm, a surge of violence and the occupied with bank. the joint statement issued after
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the meeting, both parties agreed to work towards de escalate intentions and to continue direct dialogue. as those talks were taking place and is ready, man was wounded in an attack in the occupied with bank of palestinian gunman opened fire on and is ready capital in the car. the town of who are of a similar shooting last month prompted israeli settlers to burn palestinian homes and businesses needed. abraham has the latest from ramallah. we know that a palestinian has sought out a car that had is radio in it. he shot around 20 bullets of we believe that the gun he owned or he had is carlo ghost of a kind that palestinians self manufacture here in the a occupied west bank. some sort of a hand made kind of thing. now, according to these really armies statement, the person who was shot at has shot at the shooter or he was also shot at the upper
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body leading him to have serious conditions. as far as the is with the army statement is concerned. now according to our palestinians, they say that they've seen these really forces arrest the palestinian or he's been taken for questioning. now it's interesting that these events take place on her water because 3 weeks ago, while the palestinians and israelis were meeting in a summit along 5 the jordanians and the egyptians and the americans. another palestinian has shot at 2 israeli settlers and her water and killed them. so it gives you an idea that the tension was somehow expected to happen and for what a while at the meeting is happening and shall shift to day. you as president joe biden has spoken to israeli prime minister benjamin netanyahu to express his concern about planned overhauls to the country's judicial system. mass protest against the changes have been ongoing for the past 11 weeks. as the bill makes its
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way through legislature, the proposals would increase the power of politicians over the courts and critic side they threatened democracy. well sir, in president bashar al assad has meant to immorality lead as an abu dhabi on his 2nd trip to the gulf. since last month, earthquakes, his 2nd trip to the u. r. e in 2 years comes after a visit to a man last month. the 2 visits are his only official engagements in arab countries since the start of the syrian war and 2011, the u i. e, normalize relations with syria in 2018 or 20 years after the invasion of iraq. opec 2nd largest oil producer, is still struggling to provide basic public services like power and clean water to its people. political instability, endemic corruption and security issues have all left the economy in flux. some of the java reports from basrah. the
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buttress famous italian bridge wasn't here 20 years ago. neither was the main road that leads to busters international stadium. now the streets are peaceful and there's relative political come in the city and across it all packed up and we've achieved more than $8000000.00 a for an investment up to february 2023. we are keen to achieve major projects. this is all in coordination. with the federal government, lots of projects were completed in basra, related to infrastructure services, commercial and tourism sectors in this oil field. if the merge noon, which means crazy in arabic, something that refers to the large amount of oil reserves found here in one location and estimated 38000000000 barrels. the mission field produces 240000 barrels a day for iraq's economy. and production is planned to be expanded to 5 and a half 1000000 barrels per day. in our government says despite obstacles like corruption, red tape and an unstable region invested the lining up. the mainly interested in
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the countries abundant deposits of gas. but despite its large hydrocarbon resources, iraq imports a 3rd of the gas, it needs for its power stations. nearly $2000000000.00 worth comes from iran, and on a stretch budget, that's a burden. and i also spent an estimated $5000000000.00 on importing diesel and petrol. that's left it offs currency struggling against the dollar. and that's not all. and isn't marleni. i beautified little, had that in miley we had do as estimated by a parliamentary committee, corruption cost to round $10000000000.00 a year, around $600000000000.00 have been smuggled out of iraq in the past years. we have to fight against corruption, administration, and financial. there's no real development in the rocky economy of one. despite that wealth, millions of iraqis struggled to get clean water every day. and every year, thousands of people fall due to waterborne diseases drank drivers and climate change has increased risks of food shortages. 2 decades ago,
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the 1st battles of the iraq war were fought in basra. the city of a 1000000 people was besieged by mainly british forces. cluster munitions were used in the international coalition to band uranium weapons says you can use forces use depleted uranium, frizzy is after the invasion. a lot has changed yet. this problem continues to remain. the bag won't put off oil based economy, but still the complains of the people are a lack of job opportunities infrastructure. and the lack of attention from the people in power. family guy without the 0 button. the us led invasion of iraq was launched without you in support. cyril vania takes a closer look at what happened 2 decades ago. so let's take a look at the main events leading up to and during the iraq war, 1991 to go for ends. the un security council demands that iran give up all weapons of mass destruction in exchange for lifting sanctions imposed after rocks invasion
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of kuwait during the 1990 the iraq promises repeatedly that it has turned over all its banned weapons. not true. several or later discovered in 1998, president bill clinton signs the iraq liberation act that makes removing saddam hussein's regime. the official policy of the u. s. government. after the 911 attacks clinton success george w bush identifies the rock as part of an axis of evil that speech widely seen as laying the groundwork for american military action in november 2002 as the u. s. is preparing to invade. the un security council passes resolution 1441, giving iraq a final opportunity to disarm the united nations carries out 700 inspections for weapons of mass destruction. and what do they find? no, w n d 's. still on march 20th, the us invasion of iraq begins aerial bombardment. first, been a ground invasion within 3 weeks. us forces take back that. and this becomes
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a defining image of the war. the statue of saddam hussein pulled down and fertile square elsewhere in the capital. there is widespread arson and looting. american forces do little to stop that. iraq's army loses on the battlefield, but many soldiers go into ground and form armed groups. as for saddam, he is captured by us forces in december 2003. but the insurgency continues for years efficiently. the u. s. leave the rock in december of 2011, but it still has troops there today. 2 decades after the invasion, there have been more large protests and france against controversial pension reforms. the demonstrations come off the presidency menu, mac crone bypass parliament on thursday to push through a rise in the state retirement age from 62 to 64, french and pays on both sides of the political spectrum have found no confidence
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motions against the government who protest the chrome centrist alliance still has the most seats in the national assembly versus shield on monday. in india shop drop an onion prices in the western states of marashi for has into a crisis among farmers. the country is the world's 2nd largest producer of the vegetable. the said government says it will compensate, gro was out the hundreds of farmers started protesting poverty. midtown reports from lol sula gown. i this is how prices are decided at each as largest onion, wholesale market. farmers and traders from nearby areas meet in the town of laslie gout every morning to day them, buddha, somber. they say they're struggling because of falling prices, like never little back on the final guy. whisky, why does i'm going to me like i lost more than $1300.00 the season. i'm known deborah people, i can't even on my house. i'm worried if i'll be able to grow onions next year. what? i'm scared my dep fuel increase and i'll be stuck in cycle of launch. i get the
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western state of my roster as in just largest producer of red onions. recently prices dropped by half, creating a big crisis in the region. grew as a blaming this on surplus produce estimated to be around 30 percent pharmacy. i say government policies are making it difficult for them to export onions. climate change has also impacted on in supply higher than usual temperatures. and unseasonal rain have reduced the shelf life of these onions, forcing farmers to bring them earlier to markets before they wrought, lead architect and the magic not heard of it. j to say they're trying to revive the market before the summer harvest arrives. then courage and customers to bite low prices about and working with farmers to find long term solutions. who ended up being valuable for sellers, could europe as opposed killer warehouses? yup. it, these red onions cannot be stored for too long. the pink onions have along the shelf life, and so we are asking farmers to expand warehouses for those which is great. we are
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also suggesting they grow varieties that can be exported to regions like europe in the middle east. so next time there's a crisis here. we can so the produce that last week housings of farmers started marching to boom by to demand financial assistance. the end of their protest after the state government agreed to their demands, those include subsidizing prices and waving loans. some say the solution is only a temporary fix, marcus, joy, all, oh, so that order to you, the entire system needs to be overhauled right now. political parties interfere and decide who's allowed in the market. this should only be buyers and farmers, no one else. additionally, farmers need to learn to balance onion production with demand, so they can get a good price harvest season is expected to begin next month. farmers hope they'll benefit from new policies and start recovering their losses. pardon him at the larger 0.

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