little information we have we know that the bands that the, the dance and a bunch of the bravo on the, they could some of the system, the 3 that have not been filled out. all one thing in to me is in the program. and so in to secure you is the cloud saving alone is not a silver bullet. and so mets coast cities, water shortages of the capitals infrastructure is to deteriorate. to that, at least the toiletries already lost within a leaking pipe. and it treats in recycling just the fraction of its sewage the amount of these expensive flights, the going to fix those big struck true problems. don't home. and i would just say that the victoria, reservoir, mexico, a british man has been arrested in south korea's capital. so laughter, he attempted to claim the country's tallest skyscraper, staff at the $123.00 story locked world tower,

forced the man to stop his ascent. once he reached the 73rd floor, you made the climb without any equipment. the your headlines on als is 0. this. our ukraine's top military command says there is heavy fighting on several front lines. keith says more than 2 dozen battles have taken place in the past 24 hours around the eastern town of buffalo and further south. nato has begun, it's the largest air deployment drills in europe. 25 countries from the alliance partners are participating. sweden has agreed to extradite a self proclaimed supporter of the pro kurdish p k. k group that are key. ankara has been delaying style combs bid to join nato, and there are reports of explosions in the sydney city of them durham, and those fighting escalates between the army and rapids. support forces have been, morgan has more from under me. yes,

civilians say that they are quite worried that there would be more fighting between the r a stuff and this is denise army there to strategic locations for the city and his army here in the city of on demand. the engine is core, which is in the southern parts of the city. then you have, why do you say, you know, that's the military air base where flights of kids have been taking off from since the south of the conflict and which the rapid support forces have launched several against the attacks against trying to take over it. but has not been able to do so yet. so residents in the many parts of the mind, but especially the northern part, are quite concerned that in the coming days, because there is no seas far in place, there will be more fighting between the rapids support forces and between these army in the city. at least 40 people have been killed in the democratic republic of congo during a raid on a camp for internally displaced people in the country's ne, a tory province. the camp was under the protection of you enforces, the military says a coalition of rebel groups carried out the attack. law enforcement in the us state of florida, stepping up security,

a head of donald trump's arraignment on tuesday. many of his supporters are calling for protests and rallies outside the miami court house. the former us president faces $37.00 charges for allegedly keeping classified documents, silvio berlusconi. the former prime minister eventually has died at the age of 86. he had served 4 terms as the leader who was admitted to a hospital in the land on friday for tests related to his leukemia. those are your headlines on alpha 0 as always. our website alger 0. com carries all our stories up next, counting the cost to stay tuned. of the challenges era

the structure, the other on the clock. this is counting the cost on al jazeera. we can look at the world of business and economics this week, a solid easily pump. that's how the kingdom described its move to unit last week about toil outputs, in a bit to boost prices, will help to sweep new markets. also this week tackling chucky a's cost of living crisis. the nation's new finance minister, boeing to return to rational grounded economic policies. plus more money will be going into clean energy, the oil for the 1st time ever. we find out what's behind the boom,

and so the power invest the so all produces facing fully oil prices and best buy will street speculate as could push price is further down. saudi arabia, the world's biggest exposure, says it wants to target these trade is it's announced, it will cut out, put by $1000000.00 barrels a day, starting next month. the decision came off the link for you negotiations by the opec plus a lines that so all the produces extend earlier reduction through to next year. we are getting b as this report. saudi arabia's minister of energy arriving at the headquarters of oak pack in vienna. up to 7 out of to the organization of the petroleum exporting countries and its allies, including russia, known as opec plus said they were cutting supplies of crude oil. again, we had a 100 but really using the fundamentals to hedge and we would continue

to age as long as we don't see that at the ends and stability. opec plus accounts for about 40 percent of global crude oil output ministers agreed to extend costs of $3600000.00 barrels a day until the end of next year. and said they'd reduce output bias. the 1400000 barrels a day in 2024. 0 tech is roughly administered, right. it was about the economic go look, which is not too good. they're worried about interest rates rising, still in the us and certainly in europe. so they're worried about a week economy a week. economy means week, the month, which is no good for prices. in addition to opec's costs, saudi arabia pledge to caught 1000000 barrels a day in july. the international monetary fund says the kingdom needs an oil price greater than a $2.00 a barrel to balance its budget energy and this phone. opec strategy relies heavily

on increased demand from china following the end of it 0 because it policy, the real question for me is around what happens if we see if the demand doesn't come through in the way that it's projected to. or if we see a, you know, additional slow down in the global economy and then kind of what is what's left in in the opec arsenal to, to respond to that. during the tooks opec also agreed to increase the united arab emirates quote, to next year. africa members including nigeria that haven't met the targets had that quote has reduced the price of brent crude rows following opec's announcement of costs. but the gains were limited because of doubts. they won't be enough to stabilize energy markets, victoria gates and be for counting the cost. well, oral price is sold to more than a $120.00 a barrel last year. but as we can see here, they trump back to level seen before russia invited you crate us despite the reduction by opec costs of nearly 3660000 barrels a day since october,

a production caught announced in april st. price is up close to $87.00 about the price boost did not last long. international benchmark, brent crude fell to nearly $70.00 a barrel at one stage more than a week ago. it jump slightly up to more than $76.00 per barrel onto the latest announcements. a. let's take this on. joining me now for me to buy is a robin mills rubbing? is the chief executive officer of come up energy robin, welcome to i'll just 0. what do you make of the market reaction to saudi's decision so far? well, pretty tough is really, you know, not, not much price action in the game, but nothing significant. and i think, you know, addictive of with markets mindset is that it's pretty bearish, pretty glibly about the demand and economic picture and supply cuts out to help short prices. right. say i why do you think it's heading? do you think that will change. 5 i think it will, but it really depends where,

where the economy is going, and i think it's a comic out what is reasonable demand just recently strong, the whole, the whole cast would show the 2nd off. yeah, significant data sets on price is going up again. and that's where the of the costs will really stop our fax. but if you don't see them, ok, you still so very much all the negative mindset to, to the, to the general demand for us. if you to grow thankful castle, you, joshua and j a c or others all talk to the state because the market called see much when we got 2nd off, the agent on the gable, he, the only missed about the economy. there saw the amplitude, china university us that causes bank policies, and so a decided same procedure time. and then they to make this happen, you know, sacrificing market share to push price is up. how long can they keep on going, sustaining these kind of costs. but i think it's difficult because of the, like just round about think talks of the cost of the site has been the only ones to do volunteer costs. and i just quote isn't solved,

but that becomes into effect next year. and it's kind of national anyway, most nights. so the site is valuable. just copy it by the next week. the process of the box finished with sided ones with i want to volunteer. yes. another account, so you do actual costs. and then the other side of schools is russian, which, which also promised the captain. i go on the day just pretty high, easy, but it doesn't say the russians. i've got a question. so why do you think it's been so difficult to stabilize the markets? i think just because of the, the mindset, you know, we, we continue, continue having the next to the economic use. you know, we have the, the types of us banks that we have used to have saving talks look at. it's behind us now. and we've, we've had to have been watching china. chinese reopen. i just kind of, we buy it carefully. but the nice chinese export think is not very good. so i think the market is just in a, in a much at the recession is coming weekend them. and these coming the, the, the migration c forecast drove out to mistake on the,

on the demand. and the 2nd i'll be, why don't we see a different one of the supply cuts off a 1000000 barrels by here, really balanced by that still the to enough to give a bush now i can swing run quite, quite suddenly, you know, the market has as moves and it might goes more, more willing to take on the dates of stuff's going because the only map says that the saudis need and the all the price to be at $80.00 to finance is budget. is janine that's, that's a kind of price flow that's targeted by opec plus. yeah. so the feel price isn't today to dollars and it isn't point now. so they can still kyle with each plans people will see the depth. it's do so. um, but i think the price of the car be around to across right. id would look like reasonable it would make up. yeah. think members and they could inside. there might be some of the house. this is outside the world of, of that is trying to intentionally push prices up a your average person would have little sympathy for the big oil produces with reco

profit so around insightful. yeah. well, i mean, this is a, a mock and it would show up, it has more of a power, and it has a lot more power to dies. and he did a few years ago because of the russian to go, or at least not rushing gross elsewhere. i added say on this is company sponsored that because there's also the account for that for the interest the same time. i'll see the us dollars for process below. you mentioned russia and that position, and all of this is generally speaking all day in line with the policy. do you think? well, they're in line with the policy, but i started rubbing the cops and now school processes abreast. it doesn't dr. katya, but i don't think we're rushing production as as calm down across excel award. but you know, not really long term sanctions and difficulties exporting russian oil. 50. the russians are promised of all the energy costs in april doesn't really say that the level s and i think is a father. next slide that makes you,

it still seems wash so cost significantly the charcoal station besides what was the site we're waiting on. i have to continue these concepts of russian stuff jointed because that was all the point for me, you know, big plus, it was to get russia and some of the reports. none of the countries inside the tent that happened by he had the some cuts to support legit action and that worked very well styles. they the company and debbie was with all the countries cap certificate . the same is waiting so well. now, what about those short sellers? the speculations of decided he says it wants to target isn't going to hurt them. the process wasn't very much so i wouldn't expect sign up. uh yeah, i think would last short positions and still fail to you know that they're still justified across on the slide. the other stored for, for further goals. so we didn't really see him. i just jumped the process that he wasn't particularly shocked by the kinds of aging observing what is this going on? what about the united states, how they view it?

as of us will feel really comfortable here. the process is not to i of, it's not too low either of us is huge oil producer, so it's always balancing the, just a oil producing companies. nobody's excited. so it gets consumers perform for all about as a price to low, but not too low. and prices are in the range, we're getting quotes right. and so you guys could think about refunding it's cheaper time. so would you brief hold on a couple of months back tendencies off to, to see what it does a chance that around the middle it's great to hear perspective appreciate that. thank you. thank you. not processing chuck yet have rocketed over the past 2 years with inflation had to get 24 year high in october. but just by the president, terrific type of divine has refused cools to increase interest rates to bring price is down. there is a new treasury in finance minister. he's popular among foreign investors and will now be tossed with fixing the economy. could meant some sacrifice,

so it depends on orthodox policies. it's an impulse. the only reports from a simple in the taste estimates for the turkish bible is the most affordable sweet food in turkey. yes. but the price of the turkish breakfast stifled has increased fivefold in less than 2 years. that's the result of the government's honest looks, monetary policies that have led to a sharp decline in the value of the currency. now, present budget play out on has re appointed his former orthodox economic minister might mention shake. his job is to what the appetites of the markets following guarantees, presidential election rick for last month. but some are skeptical. various of all do, much of the uncertainty has been removed. the fact that those with 2 offers were dismissed after directions were praise by the markets on the main source of concern. so how much searching to they're being disregard the markets are now questioning whether disappointment ends is being made in preparation for the local election. that's

scheduled for march. under our tones and the flu is the turkey central bank slashed interest rates over 2 years aiming to boost growth through exports. last more than 90 percent of its value in the last decade following a series of crashes the worse less than 2 years ago. to get in for us to not use immuno done the hand over ceremony. subjects that took you has no other choice than to return to what he called a rational ground. prioritizing a rules based, predictable, national economy to ensure prosperity, so long as you have an independence central think. and so long as your central bank believes in orthodox policies. there is a very, to get out. what we don't know for sure is how much independence they are going to have. and to what degree they will be able to implement these orthodox policies. despite the failure of wordpress, i'm tired on describe as a new economic model,

he has reiterated his desire to bring interest rates down. as well as minister days to check is known as a stringent, the calling of us with the election left behind. what is called the campaign economy is over in turkey, and he is expected to press on with a stereotype. citizens are over the suffering from high inflation at the valued currency and the cost of living crisis. now they are being told that to overcome them, they need to further talk them through bells, along with the government. but many are waiting to see if presence our dawn is being sincere. when he says he's granting independence to his new economic managers . c, noncustodial for accounting, the cost is stumble. so how does took, he has $900000000000.00 economy shape up, while inflation has nearly hops since its peak of 80 percent last year. bought the tex never lost nearly 70 percent of its value against the dollar in the past 5

years. at times to prop up the currency in finance and account deficit have depleted foreign currency reserves. tech is economy expanded by more than 5 percent in 2022 and grew more than expected at the start the yeah. but let's say that growth could fit in the coming months a ball from a symbol. now i'm joined by a need for it says good, who is the chief economist, that is, i should management. and then if a great time you with a thank you for joining us here on out to 0. so we have this guy is highly regarded in the financial world. he himself has pledged to return to rational economic policies. what does he mean by that? and what do you have a free hand to do so? um yeah i, i think that's a very good question because back in 2020, we had an episode where the central bank governor and the, the economy means there were changed and that change was accompanied by policies

that are more, they more including more rational actions this central bank stopped for us to see, to beginning in the effects market, the inflation targets in becoming an objective again. and we saw some monster types and in cupboard this didn't last long. the and after that, the economy policymakers became committed even more to the so called new economy model and unconventional tools. so it's very right to ask whether should check will be able to deliver what's he is intended to. but i think this time is it's, it's a little bit different because now the polls to make us the chance to opens or the outcome, the, the, the results of the new economy model. and it appears that there are some more significant risk, the cost range to keep the navy economy model up and running. so they have,

they had a 2nd look at this new economy model. and now both they have to change it and they believe that there's a good reason to change it because the new economy model unfortunately, it couldn't lead to better trade, performs trade balance, better export performance. and then the sion in import import dependence to so i think this times it's going to be different. and right, it's a fine line for him to try it as an efficient to try it. because his boss, the president, is known for the fact that he, things that high interest rates are the cause of high inflation. so what can we expect to think in terms of interest rates? yeah, i think the interest rates will be high. because if you look at the news flow that was circulated for rent 1st and solution, check and present ad on med be on means a k p o officials were claiming that there will be

a bit going back to or so those policies. and if that message saves an interest rates high, that will be the case. i mean, if interest, if that is the means is that interest rates will be high. then also i combine this with the, which is 6 own explanation on an emphasis on rational policy is predictable. would see a rule based economy. uh so i think this will include an interest rates hike and it's the next meeting we will probably see hi can interest rate. and what about the layer of what's he going to do about baths and, and also for the countries depleted reserves. yeah, the, the most important thing, the most important issue to tackle in the 1st place is the affects the reserves actually into, to cause risk strict or, or, or lower effects demands. and in order to do that with the monitored sites and inc, i think there will be a slow down in long grove, the economy will slow down. so this will lead to

a lower import demand. and more importantly, the choice fee is going to depreciate. probably we owe way this whole song depreciation, but i think it will, it may that may be room to go more. um and the, it's great to be, you know, quite contradictory because it's a sign. when $12.00 types of thing is happening, you normally wouldn't see which one is the weakening, but the fact that the central bank will allow the free market to determine the exchange rate rather than buy, you know, intervening in the effects market that will lead to at higher interest rate in the higher exchange rate at the same time and it higher exchange rate will also allow some adjustment to external deficit. so, so overall, this will probably lead to some, uh, this will contain a fixed amount and also this is not going to only help the external deficit side.

this will also help local investors residence to probably it 1st stop accumulation of hearts courtesy and them at some point when they come to see an interest rates are at most fair levels, then at some point they may decide to go back to turkish. they're out of savings, bottom line, and briefly if you would, is even mind to fix the economy. yeah, i think so because there is an available background for that. as i said, i think the local investors are very much dollar rise. we don't have much coordinate unless there's that for an investor positioning in the turkish market. this is extremely low compared to historical standards. so i think when to, as soon as the uh, the shake a team, a shake and his team cruise that they're delivering what they promise, i think there will be some increased confidence which will attract

a for an investment and which will convince local investors to go back to turkish lira. so uh yes, in the medium term, we need some structured report on some changes in tax policy, education, etc. but in the short term there is room for norms, improvements. uh, even with basic implementing basic economy principles. i just great to get your databases. thanks very much. i thank you. now, nearly 3 trillion dollars is expected to be invested in the energy sector globally this year, but for the 1st time, it is anticipated, more money will be spent on sell it path than on oil production. the international energy agency says at least $1.00 trillion dollars will be invested in sectors including renewables and electric vehicles. the rest will go to oil, gas, and coal. so let's break down the figures. at least 1.7 dollars is now invested in clean energy for every dollar spent on fossil fuels. the ratio was one to 15 years

ago. so in a pallet spending is leading the increase. it's expected to reach more than $1000000000.00 a day. that's nearly 380000000000 this year. well, more than $370000000000.00 would be spent on oil production bots, investment a new fossil fuel supply will rise by 6 percent this year. that's still double the level it needs to full. if the world wants to reach net 0 emissions by mid century as well, dave jones is joining us now from london. dave is the global insights lead him back flying at the end, the climate organization. so it's a 1st up. how significant is this a shifted investment and what's driving it? yeah, it's a very, very significant amount of investment guidelines to create an investment. a i've raised about $5000000000.00 a day at the labor late last year, and it was a 6 year in a row. the clean energy investment globally was bigger than fossil fuel investment, clean investment, it covers a wide definition. things include things like uh,

energy efficiency and nuclear power and electricity greats. but the full technology isn't really, that's a um, so much of that broke but started out wind power, electric cars and heat pumps. electric costs have been on a, on a real tab with us knows up by said last year. and in terms of what has been driven by so much it has been driven by positive uh, government policies. but so much as well has been driven by consumers who want uh what about how much it costs. on one side of the panels installed in the roofs. uh sola is very much a driving force and all of this is net. why is that? um yeah, the i a lead with the, with the headlight about southern investment, i will take you on investment for the 1st time. so in the context, so they'll have is the dominant fossil fuel, uh, now site or investment has leapfrogged into that, that really positions toyota as a true energy, super power. and i guess is particularly puts in it when you,

when you try to link the 2 together. when you look at like the big, the biggest, the most exciting investment coming through which is inside of how funded by electric vehicles. and you can say that in the old economy where you had oil having fossil cause, you've now got started up being used to power electric cars. so there's a real connection between the 2. it's pretty evident then the clean energy industry is very much emerging, but it's not being helped is by the fossil fuel companies. in fact, quite the opposite. uh indeed. so um, so the uh good investment uh is, is off again. uh, last year and this year um which uh, which is not so good. um the uh the codes from um, factory bear on on that the, the, the head of the expression in each agency when he launched his uh, his work from training investment. he had a really pointed message to what size companies the investing into you felt which

was the changes coming fast. and when you look at a lot about cleaning assessment, coming on that clean investment into renewable electricity is coming on with a 0. emotional cost is not increasing the rosemont full of energy, but it's going to be doing is going to be displacing the need for a $4.00 foot bustle chose. and so far it hasn't quite reached that critical point. and uh at the moment. so i'm not sure if that kate in investment is just uh, just driving just genuine investment insight into, in general, it's a modern energy. but it's now it's starting to increase to the level where it's actually going to stop reducing fossil fuels and, and in the next couple of years, that might be quite slight lights running. that, that guide, that's going to be extraordinary quick. right? so how far are we away from a clean energy economy? is it gonna happen quickly enough? um, uh, how far away? well, hey, um this is kat date depends on the part of where you live. um, so the uh the story on pain investment is a really positive in the, uh, it was

a really positive story in the case of emerging countries um, outside of china. um, on average i have got the same amount between investment as they had back in 2015. so i so much of that but not driving force and clean investment has pain in it. obviously the country is, is pain in china, and it's left a lot of emerging countries a bit behind because that still some way to go. all right, they've james, i appreciate that. thanks very much indeed. thank you. and that's is, i'll show you for this week. if you'd like to comment on anything you've seen, you can tweak maybe i can get clock out jobs, please use the hash tag a j c t c. i'll just drop that e mail account with the call set at 0 dot net is our address. any more for you, online it out is there a dot com slash dtc that will take you straight to a page which has individual reports, link some date and time. so it's you to catch up and that's it for this edition of costs of the cost. i'm a clock from the whole team. thanks for joining us and use it's coming right to

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