empty to 25 people still practice. this is basheba temple, which is a 150 years old. there's been a lot of damage to lives in property, record, rain full and the flooding it triggered has damage roads, buildings and force. the closure of schools with shelters being set up for the displaced the situation is bad. there are continuous floods and the rivers are overflowing. their flash floods, villages are being flooded and people's homes have been effected. india is me to a logical department is issued a regular for both him a child per dish. and we've had our con states with more rain full cost for the start of the week. michael, apple, elders era year was most active volcano. mount aetna has optis spewing ash on to cataneo the largest city in eastern sicily. it's full, tanya, and call me so airport's to close. not at the frequently arrives, but really cause a significant damage.

the hello again, i'm elizabeth randa mendoza. all the headlines on al jazeera, the she has military says it has enough evidence to prosecute detained. president mohammed visited and for high treason, resume was deposed interest at all for the ministry to paul by force, an easy ok at least 26 people have been killed in a drawing strike in the arm har. region. local media says the strike the town of fear, note salaam on sunday. it follows weeks of fighting between the army and rebels known as fund or if you, if you and human rights commission says hundreds of people, mainly ethic i'm hers, have been arrested in the capital as all of us as the desk told in hawaii is devastating wall sizes wage to 96 officials say the f it's defined and identify the dead. and the early stages iran has blamed on group iso for sunday's attack on

a prominence she a shrine. surveillance photo which has the most showing the moments the attack open fire and the city of sheriffs counting one person that these 3 people have been injured in a russian attack on the black sea portal. vanessa and ukraine. 5 bro, calendar to supermarket and a dormitory from miss alden drone debris. the father of 2 of the full columbia and children whose have on the plane crashing may has been arrested. prosecute just have taken meanwhile, one oak into custody off to charging him with sexually abusing his step towards him . nearly 50 people have died of the northern indian state of the modules. for the shock, the torrential rains had the region. dozens of people still trapped. well, those of the headlines on our to 0 to stay with us counting the cost is coming up next. thank you for watching award winning program. 27 years and thoughtfully consignment. it's an extreme formalized felicia. i think it's designed to break

international so well. class janet, 80 percent of 80 percent is controlled by god. bring programs to if you don't think any time on an amount of time i'm trying to push myself for that time pushing, pushing see the world from a different perspective. one out is aaron the hello. i'm adrian fund. again, this is counting the cost on al jazeera. you know, we can look at the world of business and economics. this makes central banks a holding gold, increasingly moving that reserves back home boulevard for the precious metal continue. also this week 5 of a posts on his ex platform on most of told employees treated unfairly by that

bosses that he's got that fax plus the textile industry is often called the backbone of practice tons, economy. the sector is bearing the front of the nation's financial crisis. the it is precious of themselves as a safe haven, a hedge against economic uncertainty and investment favorite for its debility, traitors, investors and governments have often looked at gold in times of market volatility. 2022 was an exceptional year for the yellow metal to mon reached its highest level . and most of the decade, central banks globally bought a staggering $70000000000.00 worth of gold. that's the most in 73 years of now it seems the world is looking again to gold as a hedge against uncertainty. for months, banks have been selling off the gold stocks. now the bank buying again, the world gold council says the purchase isn't the 1st half of this year with the highest on record, the biggest bias, the peoples bank of china, turkey, india,

and the e. u also ramped up that gold was of, as well. russia has been stock piling gold for the past year as it tries to circumvent the impact of western functions. so why do central banks like gold? well, the metal holds its value during economic turmoil. unlike currencies or bones, its price actually tends to rise when the value of the us dollar falls, that encourages central banks to stockpile gold, to diversify the reserves away from full a tile currencies. hedging against inflation is another reason why central banks forwarded. the metal has limited supply, attends to preserve purchasing power against rising prices. that a one 5th of all the gold ever mind is held by central banks. the us has the biggest reserves, many central bank, sol, tons of it. during the cobit 19 pandemic, the shore opposite our economies to go reserves the captain underground volts are

stored with the central banks of broad including the us. federal was of of the bank of england. joining us not from single voice nicholas gonzales, who is managing director at the metals focus. he's a global precious metals expert. the time he with us because it was russia's invasion of you crate and the subsequent sanctions that triggered last he is gold rush. what's behind this years pilot the gold. oh, you know, i think it's in many ways a continuation what we've been seeing for the last couple of years really price of the crisis. um, the expectation, especially the early part of the year, the expectation that the federal reserve would be forced to cut the rates uh a lot sooner than the reality has proven it to be the case. that's what drove the price of back of up to $2000.00, announced and look more generally. the gold has basically proven its metal, and a lot of investors are looking to it does

a diverse the fire and central banks have been continuing to buy will be it's not us uh, aggressive. yeah. last year. how they're still in the bid. are there any particular countries that are leading this, this ross who's buying more gold than, than anyone else? well look, i mean, uh, naturally, uh, the country is that big in terms of reserve managers, the countries that have been over the last decades really buying gold, developing nations, the nations of have don't have legacy gold holdings as a result of being part of the gold standard china, russia, the key have been being buyers, although tucking not this year, the key hind fucked on that seller. uh, recently for various reasons. but yeah, so some of the european east european countries have been buyers and the last decade. but yeah. basically, countries that for lack of a better word, need to add the reserves because they're not already overweight. like western ones are because what, what are the implications of the,

of this for that for the greenback that the, the us dollar, the reserve currency, the world. there's no doubt that there is a big organization underway, and in fact, it's been going on for quite a quite, quite a long time. it's not just kind of the aster mine, so the war and ukraine and the freezing of the rest of the central bank assets dollar eyes ations has been going on since the early 2. thousands of us banks have many diversifying against the facts to reserve currency. i think it's a bit premature to stop making long term projection us or i'd say it seems to me if it can sway me. and i think gold is also um, you know it's, it's part of that move, but i think it's a little bit um, we can't really look at the goal. does the principal driving forces be storage, but it took to what extent the uh, the, the, the trend towards rising interest rates across the world, playing into this, this,

this appetite for gold. well, and perversely, the goal depends to a gold, gold tends to lose out when interest rates are rising, right? because effectively higher interest rates mean higher risk free or a higher cost will carry. so why buy gold? which yields 0 or best? if you basis points when you can 9 started by treasures that give you 4 or 5 percent returns. having said this, we seen the dramatic change in the reasoning or the way the uh, the aptitudes of institutional investors. they're a little less sensitive to that. and a lot more keen on the gold, surely because of its having proven in the last 16 years and um, uh, numerous crisis that we've seen, we've gone through that it's a very solid and uh, successful. that's the fire. alright,

thank us. i'll be back with you in just a moment. a growing number of nations are repressed, creating that gold off to a freeze on russian for an assets. separately. venezuela's government has recently lost an appeal to gain control of nearly $2000000.00 in gold. held in the cape. the bank of england refused to release them as well as assets, citing doubts over the legitimacy of president nicholas. my daughter is winning 2018 nations gold resolves, felt by any 12 percent in the 1st half of the year, down to $61.00 tons. nicholas rocha's gold was stored very much at home. of the central banks though, a pretty one. they don't they because as we can see in the case of dennis, whether it's, it's easy to freeze gold assets that are held abroad. yeah, of course. look um, traditionally, as a central bank, you would want to keep as much gold as a big the big chunk of your gold reserving long because that's where you could basically mobilize it, blend it out, or if you wanted to sell it, it would be

a lot easier to sell it then when you were, if you were adding 2 years as it would be a lot easier to just add to your local london account. um, but as very id pointed out, um the importance of having a piece of portion of your uh, reserves home or away from the potential interference wolf um western governments weston powers. um, ease is, you know, he's become very apparent and i think the freezing of russian central, the rest of the central banks assets in the aftermath of a people the ukranian and then the invasion for ukraine has, you know, api 5 b and then okay. alright. okay, and what about your, what about venezuela, nick or some of that? what are the chances of of venezuela unlocking its assets, its gold assets held abroad in the near future where it doesn't look very likely. right. i mean, uh the, uh, the bank of england is not budging. and you know,

frankly be so, so why we're unlikely to see massive sales from the venezuelan central bankers as you very right. the point that out about more than half of its holdings are now effectively looked away and cannot be touched. okay, let's get back to the weather in the future twins. yeah, yeah, i'm ready. let's get back to the market. here. you mentioned the price is hovering around, bought $2000.00. announce right now how, how much further do you think? right? no, it's uh it's, it's not close. it's 819-1900. the 8th above 2000. okay. i remember you. all right, that's fine. but i, we go, we set to see those highest again, any time in the near future. and we're not about giving financial advice on this program but, but show the likes of me and anyone watching me thinking about investing in gold right now. yeah, look i'm, we are as a very i to point it out. we're not there to give investment advice. so what we can say is that we can see investors are still interested in gold. um, a, you know,

even though the persistence of high interest rates is a head wind for the price and we could see lower prices, it's, you know, because without the possibility we still see very strong interest in gold and that offers very healthy, very important support. the price because it's been great to talk to you on terms of the costs, manufacturing data being with us. thank you, adrian. all the best. the found the eye clinic, blue bird logo is going to to, is now re branded as x ito mosque is no stranger to making use. this time for outlining his vision for the platform for the notice towards up part of his plans include making the social media sites a haven for free speech. in a recent announcement, the building at off at the foot. the bill for use us to assume that bosses, if they think they've been treated unfairly for posting on x. and he says there's no limits to those funds despite plunging advertising revenues. how's the respiratory okay, can be reports. this is what is the world's most use social media platforms

now it's building at own that you know, musk says ex, formerly known as twitter will pay. the legal bills of uses has been treated quote on fairly by employees because of posting or liking something on the site. so what's behind this announcement at a time when his social media site is struggling? this is trying to attract attention to its copays. so what he always does, which is the purpose of the without actually necessarily having in any intent sorta think of following through on it because uh, the actual logistical indications of how you would do this. uh, just uh, as well, you know, mosque boot twisted last year for $44000000000.00 to him or followed after he fired hoff the workforce. since his takeover the company has lost hoford's advertising revenue. in july, the logo changed mosque said it was part of his vision to use the app for multiple

purposes, including audio, video chatting and payments from a brand or business point of view. it's completely irrational. it's probably the final strikes in the complete unwinding of twitter and likely going to be good for you on last because now people will be talking about his expiration. not how much money he's going to be losing on twitter the most because referred to acts as the so called everything app powered by artificial intelligence pushing it, place it ages so called soup apps. we checked in china is one of the regions biggest platforms. it's used as a one stop app for millions of uses. daily needs will be own. just messaging mosque is also facing competition from an old. the 3 bulk of bugs, mehta own, or facebook launched arrival platform last month. cold threats. musk says monthly uses of ex, reach what equal to high of more than 540000000 in july. he says the will be no limit to funding use is legal bills. victoria gave some be for counting the cost.

what does this cost of this? joining us now from the lynn is fredericka comp. time out. who's a tech expert, a tech policy expert. good teddy with us for 30. if look, is a little mask serious here. should the bosses be worried or is this just a publicity stunt? that's real easy this? so what it is? it's a publicity stunt. you don't last has provided no details whatsoever about what sandy treated means. you didn't provide any information for how people can get in touch. i think this is a distraction from the real and serious problems that the companies facing. yeah, i mean, i'm talking about the serious problem and how on earth could, could he fund this? i mean it, there's no way that he can pay legal expenses which could look into millions and millions, if enough people came forward. exactly. i think it doesn't even mirror in a more detailed discussion. it's a, it's a distraction similar to the, the fist find that he announced, but you know, on us and it's

a distraction from the problems that the company is facing. people are leaving on math. a study has shown that the majority of americans for were on twitter, have sort of reduce their activity or thinking about leaving in the last 12 months . so that's a real serious problem that the company is facing. and then the other one is, since, you know, i'm asked took over harassment, incitement to violence have skyrocketed on the platform. and that's a problem for a company that wants to be a trusted public town square the center for countering digital phase published research showing that hate speech and this information have been spreading like wildfire on the platform on the mosques ownership. i mean, he does have a serious image problem right now. it doesn't take with, with x fully notice twitter. i think it's a bit more um, it's a bit more than an image problem. so things haven't been rosy at the company formerly known as twitter for

a long time. since years organizations like amnesty international or the london based jill glitch has documented how, especially women of color, queer people are disproportionately affected by violence and online hate. so this is a longstanding problem. now what you know must catch them is one of the 1st things he did when taking over the company was significantly reducing the trust and safety teams. he eliminated the essex team and he also reduced the human rights team. so these are, this is a very clear signal, and now we're seeing the consequences looks as more than a problem and drives people off the platform. and the drives advertise this a way to doesn't mean that, i mean however you looking at this, this re branding this, this takeover has been a disaster in business terms. hasn't come ex, fully. you notice, theresa. now that's catchy. is that kind of survival of this? at that, that's a very, very difficult question to answer, but you definitely,

by this is this about much more than, than human rights. it's about business. no advertise wants to advertise next to election into fear and incitement to violence. this isn't good for brands. and we seen brands leaving the platform. now we're seeing people leaving the platform. i think there are 2 issues here at the root cause. one of them is a real misunderstanding on the side of mosque. i'm what freedom of expression actually means. and then the 2nd one is a gamble, so the gamble is that 1st of all people want and everything app. so an app that you can use for right chairs for payments. and then the 2nd gamble is that people will trust x. the company formerly known as twitter, to be that everything brand, and this is a really, really big gamble that i'm not sure it's gonna work out. yeah. you. so you're not sure it's gonna work out, but this is a little nice. quit with. we're talking about here at the moment, everything looks disastrous and this, this plan for an everything up to an x into a, into a we traps if you like. uh, that does a bit of everything. i mean,

what are the chances in 5 years time if you of you and i turn it around on having to, well say, well, we got that wrong. i used really well. i think what he's missing in the equation is that people need to trust an app that they want to use for everything and was harassment. and it's still a social media company down. and as a social media company, it's not meeting their responsibility. and as a result, people don't feel safe, people don't have trust. and if you want to be the app for everything, you definitely need people and advertises to trust you. in the meantime, over a mess, of course, my uncle book has large freights, which is a kind of a twitter is not there yet. it's lacking many of the features that the twitter has . how much of how much of a fresh is that to what ex, fully notice as twist. i mean, it's clearly as correct. they all kinds of correct in the form of a ton of tips like mastodon, but also blue skies. take talk has also launched a tank based sort of communication. so there's lots of competition happening at the moment. so yes, it's a threat,

but i think let's not forget what twitter really was. we're really was the town square. it's when movements like black lives matter need to all emerge. and i think um with this fragmentation that we're seeing now, it will be a charter for any of these apps to be the sort of place the town square where we're having these kinds of debates. what's your gut feeling? are we witnessing the death flows of, of, of a one's fine, social media platform here? or will ex, somehow managed to, to, to reinvent itself? if x wants to x wants to reinvent himself as a product that has more features, but it's neglecting the core responsibilities better social media platform simply have to take on and i think it will not work out. the reason that people no longer feels safe and then people don't trust the app. i'm going to contribute to it's doubtful for there is a great tool to on counting the cost many thanks and they for being with us. of

course, any time i can start is of course, one of the was leading tech style produces it, supplies everything from genes to towels tobias mainly in the us and europe. but the industry, which accounts for the least 60 percent of exports, has been hit hard by the economic crisis. manufacturers of shut down or no longer running at full capacity now does zeros and expand reports. the city of fights all about is famous for its factories, but many struggling to stay open. the price of electricity has increased, making it more expensive to run machinery, and the collapse of pug stones currency makes and pulsing rule materials very difficult. now what are their dozens of practice? the closing hundreds on all of our cars are becoming job less even going to have the money to give our next bill. that is, our isn't does, is that this looks like the 3 of you out of the machinery. and the reason is, is that our gomez is they are one of the shows we are busy in the game of

fiber. everyone in the city has felt the impact of the crisis. does it get paid out? yes. but the other when i yeah. where do we supposed to go? how are we to send the children to school and feed them? we can only work if this work, the politicians are sticking around in politics. no one cares about his work because pakistan has lots of poverty and unemployment because of this industry. so many of us get what and run our household, especially important for women because the onto the left of opportunities. generally the if recently agree to $3000000000.00 buy allowed with pucks down government bus. one of the conditions is an ins to energy subsidies. business leaders are urging the government to protect the textile industries. they say the success or failure of pucks down the economy could hinge on us alex speed, accounting, the cost. joining us now from karachi and pakistan is yourself and for roof, who has an economist and director of research at chase securities. so to have you

with a set yourself up, the tex dot industries was purely down to the economic crisis or all of the factors that play. okay, so it is the excited of a large part of progress on the front of me. it makes up 8 and a half percent of g d, b, it's 60 percent, all progress on the exports. the parts of the prices that are, that are going to head to take started sector and that are parts that are not going to have it over the next size across as much. for example, interest rates have gone from 6 percent as many people same. so that's a very big load on the income statement, all excited company, and it's very difficult to survive at such high interest rates that can you what happened is that because if i miss sanderson, they're going to have to increase the electricity. that is what price that makes it very difficult for some of the excited problems to. so i, on the other hand, what happened is that there's been significant guaranteed evaluation,

which has started to kind of be an experience on the south side, much as it makes understanding good site, the cheaper so so, so it, so makes it back us. the other thing that happened in the last year was in board ban. so even though that was guaranteed evaluation, they started farms in the last year when any unable to import machinery unable to replace sparks. so they were so as of the next event, a to quite a few issues in the last year. uh, the industry has captured some customers and the customer. they cool with that usually used to me as orders and buddies. and so i know, but because go ahead and shut down the with that partner if any forms are able to get some customers from the study. but now because of higher data, it's getting ready to for them to retain those customers. as you said, that the test conditions imposed on practiced on by the, the i m, f for the foot for that load on our rippling out of one across the economy at affecting everyone in society. what does the government need to do to keep business

moving to incentivize businesses to keep the production levels up? oh, i see. i think the currency, the valuation that has happened over the last year and over the last year and before that is what is going to have big starting exporters become cheaper manufacturers on the board. but along with that, the government also has been okay. interesting. which already hired, i don't wish to start calling from february, and if the interest rates would start coming down the very next year, the important thing that they're going to look at right now is fixing the power sector and reducing the testing the sector, which will allow this to like the, the stock coming back down again a source of passed and transmission and distribution loss is always a big issue in progress time. and the government has to fix that. so that status and then become lower. the other thing the goal mention, okay. randy said the minimum wage is in the minimum wage in countries that progress on your next tires and other industries compete with like a so the,

the store. so the minimum wage is annalynn, stockton, the odd, make or no make progress on significantly more expensive than others. one of the reasons why are you going to have some people high a minimum wage is because 5, you some types of research to $1.00 price that's higher than the intellectual. right? so what's the outlook use of the people of pakistan who was suffering a great deal at the moment economically? is this short term pain for, for the price of times, just around the corner? you mentioned february being a key date. the government and the policy makers, they need to stick to a floating exchange rate, which can absolve any shocks that come into the economy. the outlook with very positive on the outlook and i think the worst is known behind. and now we know the situation should really start improving the values. there has been massive evaluation to be an effective it see here just finally below a 100 and it's been done for july and august. all has been posting based small consequences and with the funding exceeded in height or the external account

situation could remain resolved for light. this was great to talk to you on counting the cost manufacturing day for being with us. thank you for waiting on that. as i show for this week, if you'd like to comments on anything that you've seen, you can text me on the platform formerly known as twitter. i'm at a citizen. try to remember to use the hash tag a j c t c. what do you do? all you can drop us a live email us at the counter. the cost of the houses here don't match. that's probably more for your online at i was 0 dot com slash ctc. that takes you straight to our page, and then you'll find individual reports links at a time episode, steve account shopping. that is it for this edition of capturing the costs. i'm adrian instead of going for the whole team here in bo, thanks for being with us. the news on alpha 0 is next the

every thing is being, it's being, it's being measured. and it's not just i say instead of my face, i mean next slide these days. at the moment, we are in a state of the universe with edwards funded something that was throwing back would rather take the risk of democracy to the risks of dictatorship, digital dissidence. on out to 0 african narratives from african perspective. from david transplant to hold on. while i got that it was in a short documentary from an african filmmakers from mommy and get on the

not free samples of the waste. redeem the heritage and making her future direct on. i'll just the west african nations condemned these as qu, latest decision to prosecute ballast of president of the trees and the problem. and this is als is a live from doha. also coming up, hawaii is going to wants to death toll from cash as traffic mount 5 on mom we could drive from 96 search team scout that.