10 percent 1996. but as far from over things have been paying tribute to to pocket a make shift memorial close to where the wrapper was killed. it's actually 3 year old that they actually got him justice and we're here visiting his memorial today. this is actually very touching to us with the fan mickey, so i'm very happy that they quote the killer, even though how long it's, it's been like 20 years. long overdue many years. i'm glad that's gone. the your headlines on l's a 0 this our, the un says it is struggling to deliver a hundreds of thousands of food in these refugees who have crossed from door for and to chat. it says the rainy season is making the difficult journey more challenging as roads are flooded, more than 1000000 people have flood sedan since the funding began in april,

over 400000 of them have sort refuge in chat. the us government has warranted the serbian government to stop building up its military forces at its border with coastal pensions re ignited last week after 12 hours shoot out the northern kosovo. 3 ethnics or gunmen were killed. so was one coast of our police officer. the nato peacekeeping forces that is increasing its presence. serbia denies accusations that it was responsible and instead blamed the interest on cost of those policies towards its ethics or minority. the united nations is sending a humanitarian mission to newborn no carol, back out throughout the buys on, took control of the region. it will be the 1st you admission to the enclave in nearly 30 years, more than a 100000 ethnic, armenians have left no garner power back fearing persecution. the voting is underway in the presidential run off election in molds. it is seen as a referendum on which regional power will have influence in the coming years

incumbent abraham sola is closer to india, while his challenger, mom and louise favors ties with china. migrant both in the mediterranean has reportedly come under attack by the libyan coast guard. according to see watch international, the migrant rescue organization has posted this video of the incident online. it appears to show a ding a sinking with dozens of my friends on board. after a close approach by a speed boat, a state of emergency has been declared in new york city in new jersey after torrential rains and flash flooding swamped the streets. at least a 150 millimeters of rain full had been recorded. funerals are being held in pakistan for some of the victims of the 2 bomb attacks on friday. at least 52 people were killed in a blast of a religious gathering in the northern province of baluchistan and other explosion killed at least 5 people in hand. go as near peshawar. all right, those are your headlines on al jazeera up next counting,

the cost to staging it's showing you here is coming over our heads from russian positions and a new cranium. positions have been standing about how they were directly targeted as they were trying to sleep. we've seen some of the residents come out of the building with that possessions in suitcases by substantial safe anymore. what happens on that day is a war crime shows how many regions across the lines and the level of destruction here, food just how fits the fighting has been in recent weeks, this russian or don't some on a street has been a place of pilgrimage for centuries. the

fellow i'm several then yay! this is counting the cost on alice's 0. your weekly look at the world of business that comics this week. one of china's biggest shadow banks is in trouble. so what are those financial firms and what risks do they post to the chinese economy? also this week the syrian president wants to end his nation's isolation. as many blame him for the free following economy. plus, it's called zillow, as demand for uranium continues to increase the price of this commodity use the nuclear power is source, the. it includes gigantic financial institutions. china is secretive shadow banking industry is worth more than 3 trillion dollars for perspective. that is roughly the size of britain's economy. but after years of exponential growth, several firms have defaulted on billions of dollars of payments to investors. in

recent years, the chinese government has clipped down on risky lending to limit the risk of contagion to the wider economy. and now concern is growing again about the financial stability of shadow lenders. it's on your own. one of the country's largest trusts mister payments, the clients in august, a pretty big warning sign. and the company then signed an agreement with 2 state owned firms to help solve those problems. that was 2 weeks ago. sean young managed more than $87000000000.00 worth of funds for corporate clients and wealthy individuals as of the end of 2022. it says at least 11 percent of its assets are invested in the property sector. so just before we go to our guest and try and figure all this out, let me brief you on what are shadow banks? exactly. the term was coined in the us a little more than 15 years ago. it refers to financial services that are offered outside the formal banking system. unlike traditional bank shadow lenders, including trust lights on young,

well they're loosely regulated and that means that they can lend more easily to more people, but their loans arts guaranteed as we're finding out and there's less transparency . so it's also hard to know how much debt there actually is. now for decades, the chinese government has bailed out many shadow firms when they've been in trouble and they were seen as a safe place for wealthy chinese to park their money. you say, trusts mere investors by offering significantly higher returns on their savings than banks do that brings in a lot of cash shadow banks, then lend that cash the companies across various sectors of the chinese economy, including the profit, the sector that includes real estate developers. but china is real, estate market is now in crisis, so the borrowers are struggling to repay the money that they borrowed. alright, redmond one joins me from hong kong. so you're the greater china market, strategist, that sax. so we have now reached the point where some shadow banks have not been

able to pay their customers because they themselves are not being repaid by the people to pay less money to. how concerned are you by all of this is a concern, and i think the problem at the moment east to a certain expand is the content that one of the reason use that use i'm gonna see is 32017. china has launched a campaign to the last person that you call them. the 1st is on the charlotte balconies 2nd, and then have property sector, and then the com, inside that part of the part of the se, d leverage the economy. educate us. what is that? basically is one to limit that the financing and use is not the gross so much and used to be deal with the financing for those channels. and i mean, they have not been very successful with to limit the financing for up of the sector

. and also the local government, those have still been growing, but they have to make some such that's actually even reducing the size of the share of the banking sector. so the number one, number 2, and this a quite big difference between the us started okay. system and the china one, the china, one actually most of the p e. so do you use that? those money, caring pocket at all? packing sector is the banking start target commercial band. they want to do that good. a trade off the truck basically to try to be used to have the loophole so that they can have high interest rate. they can also make some money. i charging these all those management wealth management product to help day to cut to keep the costs of the least money at the bank, but not already in the deposit, but you pay very little interest rate is the mazda in those of managed pro management products. and the bank has to make some money. and so they are actually,

i did most of them. so now i think the chinese government try the one in process to lose my car. because these, these lending in the show a brand new system act to the bundle package as well. so uh yes it is. oh, my package deal is not our controlling yet. okay. and that goes back to what you're saying at the beginning. that right now the risk is contained again, and i'm kind of asking you the same question here is how much risk is near systemic risk to the entire chinese economy? i ask this because obviously the, the bill most of the 2008 financial crisis is still with us. and we all remember that if one bank fails, if it's a big enough bank, then there's going to be a domino effect. and so many other financial institutions are going to fail and it's going to put many ordinary people in trouble. what's the risk of that here? i mean, the lack of size of the shuttle back into somebody, not $1.00 and $5.00 treaty and you're talking about the co, the co

a month. oh good. that's true to non financial sector in china as a copier. just sort of the treaty. and so based on the, the shuttle paintings on getting knocked around 12 i 77 percent of that muscle band . and so i come for 65 percent sort of a muscle band, or se, i, as i said, we did the chinese finding solar system. so some of those we get something also slate on back to the full impact to the commercial banks. it's not the study. i actually are the customer on himself either. and those national bank, actually the bank to get to the top of you, went out to the local and then uh, financing we call it. and so to solve, those are the prices you know that the credit so. so um, so i understand so directly paul. uh paul uh, size of the separately system to. ready the system so um,

basically that they possibly can, i saw a, uh, and the china is comedies and like need to pay them off, but they pop it. oh, okay. what those sounds and so on the restructuring. so on down to what so about that, i wanna ask you because you said the word mailout. um sean young, the trust that were talking about recently about 2 weeks ago, signed an agreement with 2 financial firms that are a link to state owned companies. is that a government bailout, the hidden government bailout a partial government bailout. what is it? we don't know yet, but at the moment both i'm both posted to pick trust. and also the cd trust is he'd be trusted with data we've been trying to contact him back. also across company they have pop the shuttle packing system and create a part of their my, the phone will back on the exec data. and um, so the data i, according to that, we might be able to go into a tool and then use that, you know,

people for an operational both and so to control and that they are not pick uh, pick a go for the s s, i think the i may be acting on behalf of government and directed agents. that's pretty much for sure. but it's not a bad. oh yeah, because i think the knowledge, the lift gate. redmond stay with me because i want to run our viewers through a brief statement by showing young earlier this month. it said that some investment products were unable to be paid on schedule, direct quote, they're unable to be paid on schedule because of multiple internal and external factors. it did not mention whether investors would be getting their money back. the dozens of angry clients held, we're protest outside the company's offices engaging in august. redmond, just as a reminder, we're talking about people, you know, who bought some financial products. me expecting a financial return. and last month in august they did not get their return. so they are justifiably pretty angry. how do you read that statement,

internal external factors? i mean, is, i mean in terms of the fact that basic space is the cause to have these things? so i think he's not the probably this conversation much as was for information and that's what i'm seeing now seek, take and see. see the truck uh, going into the company to be in the boat. and i have to go through the assets. but i think to try and see because these go to uh, to the kinda what was the record i had to come up with some comp, restructuring pad full are doing wrong. so he still remains to be seen. but uh, but all right, great. can we take something we have to do something last, i think how much of this is tied to the property sector? i ask you this because i think even casual, observe is of the chinese economy. i am among them who will understand that the profit, the sector drive so much of the economy over the last 2 decades, people had been investing real estate developers. and you know, private individuals have been investing in prophecy because the price is going up.

but now prices are following the really cheapest. we did the frontier trinity, and redmond, the i, i even had those alone to the wireless. and among those i, things that are nice on the estimate is not already. i mean, i'll be sol already. i create number 18 percent of them. i'll probably use. i'm on the 2023 days. so it's the opposite point. 5 people in sex radians from the shadow banking system, the trust company as a lot for different products or so. yeah, i mean it's a foot property but and they are the knowledge and these are the for the stress, the fact our payment, we payment to those a investment product and the shuttle banking system. redman wong. thank you so much for joining us on the program today. you are the greater china market strategist at sax, so thank you. thank you. so the syrian president,

bashar assad, has regained control of the majority of his nations territory. but after more than 12 years of civil war and western sanctions, syria is now in a deep economic crisis. the majority of syrians live in poverty. more than 70 percent of the population needs humanitarian aid. as the cost of living rises, vulnerable, household say that they have had enough. hundreds of people have protested mainly in the southern city of sway to demanding president the charlotte side. step down. now this provinces, the heartland of syria's drew's community, a religious minority which had largely refused to align itself with either side during the nation civil war. the protest of now entered the 2nd month echo for 2011 uprising against assad's rule of the syrian government blames its economic trouble on western sanctions. but many protesters and sway to blame the government. for 12 years we endured a difficult and disgraceful life. the state has been dropped. i ask you bashar

assad, when will the people of syria be able to live in dignity? give them a those living in coastal cities. i tell you, don't fear speaking loud voices. and if you can't, because of the shores dogs come to sway to where you can speak freely. the protests were sparked by government measures aim to boasting the economy. they include the slashing fuel subsidies and raising gasoline prices by nearly 250 percent. the government has doubled salaries for public sector employees and raised the minimum wage to help cushion the impact of raising prices. but the res would only be enough to buy a 3rd of the essential food that the world food program calculates. a family of 5 requires each month. critics of the syrian presidents blame his measures for accelerating inflation and weakening the syrian pound. the currency plunged to a record low of $15500.00 pounds to the dollar last month. it had traded at $47.00

pounds against the dollar before the war. it's joining us from wellington in new zealand is power. i'm shar and economist, and a senior fellow at the new lines institute. sir protests have been mostly in. so wait a why is that? is that part of the country more impacted than other provinces? i think when it comes to living conditions, the situation in this way that is as bad as it is. in other words. ready in health areas, i think what happened in sway that continues to be contained there more for social and political reasons, dan, for economic reasons. the price of oil, the price of fuel has been multiplied by more than 3 recently. but here's the surprising thing about that, which is that syria used to be an oil producing country, and now it has to import its oil from mostly iran. how did we get to that point? well, due to a combination of reasons. so most of the oil fields are currently at the control

under the control of this year and democratic forces in the, in the northeast and the fields that are under the control off there is even have been badly damaged to the conflict. primarily because of the bombing from the international coalition against isis. and basically the syrian regime is unable to fix these all. ready fields and continue at the level of production. so most of these fields at are operating at the production like a production capacity level that's maybe 20 percent of its pre war levels. whose fault is all this because the protesters blame the assad government for mismanaging the economy. and the assad government says it's actually all to do with the western sanctions on the economy. it's obviously, it's extremely complicated and there are a combination of factors about i think if i had to rank them,

i would say that the number. ready one reason why the country is struggling at the moment is that it starts to read of this here and reason. the reason the country reached to this stage is above all because of the level of violence exercised by the syrian regime. however, even as the conflict at the level of violence, when what happened was the opposite of what you would expect in other context, the economy deter, rated further still. and that is because of the economic mismanagement of thursday . there is, he is not allowing either its own cronies to operate in the business sector. it's imposing a fines on them trying to partner with any remaining business that still generate. ready ink profit, however, obviously there are other factors that contribute to the current living conditions . sanctions is one of them, but it's definitely not among the key contributors to what's happening right crumb

stand by. stay with this because there's another interesting part of this puzzle that we want to mention, which is that china as president choosing paying has recently offered to help rebuild syria. that she met the charlotte side of the southern chinese city of the hinesville, which is hosting the asian games. at the moment. assad's rear visit is in an attempt in more than a decade, a diplomatic isolation. also note where the, the syrian president has recently re establish ties with arab nations that once backed his enemies, the syrian rebels car. and we mention all this because it raises the question, could this be a lifeline? i mean, chinese economic re engagement arab economic re engagement with syria. could that be a lifeline for the story in a con as well. first, regarding the recent track, personal and from regional countries, that seems to be old. but that because this, their energy failed to provide anything in exchange for that, the phlegmatic recognition and the promise of economic aid for china ice and all

that china is doing at this stage is basically just waving the syrian card in, in the space of the west. and saying, hey, that's one of the cards that we can actually use. there's this region that you despise, that you're trying to isolate, we can rehabilitate that and work with it. i highly doubt china is genuinely interested in investing in syria. a china has a long history of giving promises and not following on them, not just in syria and iran, for example. you remember 3 years ago there was the promise of investing over $40000000000.00 in infrastructure projects, and virtually none of that actually happened. so if you look out during those investments and in other sanctions, the countries in africa, se sudan before the downfall of the machine regime or in zimbabwe at china, does invest in countries heavily sanctioned by the west. only when there is enough

certainty about the political future of there isn't in syria that does not exist. i'm trying to realizes that. so i highly doubt they wouldn't be willing to take any risk by investing in the infrastructure projects that tend to take many, many years to come to fruition. okay, so if there's economic mismanagement, there are sections of the outside world right now is not going to help or as you've just explained, are there any silver linings here? is there any reason to hope for the majority of silly assyrians were living in poverty? and i must admit, i'm not optimistic at all the only way out for the country. the way i see it is through the political transition and the, the main obstacle to that policy go. transition continues to be the certain routine who decided that refuses to budget refuses to give any meaningful political concessions from big one since march 2011 to date. and because of that,

i think the living conditions, the economy will only continue to wear some current shar and economist, and a senior fellow at the new lines institute. thank you so much for joining us on the program. thanks for having a demand for uranium fell drastically after the 2011 nuclear accident in japan. and that's because dozens of reactors which rely on uranium across the world were forced to shut down after the meltdown. but the $10000000000.00 market is now making a strong come back. price is stored to their highest level since the focus she may disaster recently, industry experts or warning of a supply crunch that could push costs even further up in the coming years. let's have a look at the numbers that we're talking about. prices for uranian, jump to nearly $66.00 per pound over the past month. now compare that to the one off peak of almost a $140.00 a pound back in 2007. the uranium price is slumped down to the range of about

$20.00 after the superhuman disaster for reasons that we've explained. and then they went up again following russia's invasion of ukraine. moscow is the world's largest and richer of uranium, and the war has also raised risks to energy supply chains. a rush to secure alternative supplies to russia's orland gas has pushed up demand for uranium again . so did the, pushed by governments to go green. countries around the world are ramping up nuclear power capacity to meet their 0 carbon targets. the world nuclear association expects demand for uranium to nearly double by 2040 alongside prices. the stocks of uranium miners are also rallying by joining us from paris to shed light on all of this is posed or from and you are the founder and share of the nuclear consulting group. you're also. busy an associated fellow of science policy research unit at the university of sussex. so we've outlined the reasons why demand

is increasing while the supplies not quite matching demand. so it makes sense that the price is going up. that is going to continue for the foreseeable future, correct? a necessary way to say that a 5 to rate invest a space potential for the risk. and that's because all of this, based on the idea of that, and you could quickly tell with the colonizer but according to the government, the phone bugs, which is a strongly pro new to paper to bottom. and it takes up to 17 years to build just one nuclear power plant. so the significant questions as to whether this will continue. um, what does this mean for consumers? because especially since the start of the war, the ukraine war, consumers will be keenly aware that when the price price is of say, electricity goes up. well then, you know, their, their cost of living becomes

a much bigger problem. so if the price of uranium goes up and uranium ultimately is the source products of making electricity in a fair few countries, what will that mean for consumers when it has to be understood colored stone, which provides 42 percent of all when you ran, you will wants to react as well wide the uranium goes via rushing boats and not in body. there's no question of in bothering you fast khaki at the moment. so the strategic political ministry. questions associated as well as the one that you've alluded to, which is cost. basically in the short term, this wouldn't change very much for, for consumers. the key tool of this is that you can needs boss subsidy to be built . democratize flooding, do you see a lot usually is being built into modeling controlled states rather like china or

what, what about a? well, i was going to ask you about countries like russia, china, india, which apparently you're looking to nuclear as sources of energy in the medium term . that's absolutely right. it's not really the medium to give them the facts. the fact is that the number of states, but clearly that it takes up to 17 years to build just one nuclear power plant, 17 years. so we must ask the question, do we have time? do we have the money for new care? but in terms of india, china, russia, india is depending on russia. we know that symbols in terms of the con climate. there's a few outliers, the u. k, as usual for is not a problem is potentially speaking about. so there's a few sort of outlaws and tons of new here, but actually when one thinks about to net 0, the international energy agency states very clearly the renewables will do the heavy lifting for net 0, the energy transition. what's the single biggest thing that you want our viewers to

remember about this when they're thinking about uranium prices and what you said about, you know, where things are headed in the short to medium term in the short term year is probably a good bets. but then the model, you know, we know that model is based on proven boss. a way to say say that the risk associated with this. but the market is the market. the reality is where we're going with net 0. the reality is, is that, unfortunately what you might need to, or you don't, it seems very likely that nuclear is just too late for the climate of the energy process. meanwhile, renewables is forging ahead in us of those on power, little kind of way. so what it looks like very clearly is that the renewable evolution is here and uh, okay, really interesting parting thought. thank you for your insights paul door for me in founder and chair of the nuclear consulting group. thanks for joining us. and that is our show for this week, get in touch with us on x, formerly known as twitter,

at venue, a serial and do use the hash tag a see to see when you do or drop us an e mail counting, the cost announces 0 dot net that's our address, but there's more for you online at alpha 0 dot com slash c t c. that'll take you straight to our page, which has an individual report for links and entire episodes for you to catch up. that is it for this edition accounting, the cost i'm several then yay! from the whole team here in doha. thanks for joining us. the news on alice's 0 is next. the the,

the, the hello i'm serial venue. this is the news, our life from doha. coming up in the program today, made so reinforcing is peacekeeping mission and northern kosovo. after reports of serbia deploying troops to the border, the i am how many degrees here on the

border between charge i need. and so don, why do you not have issues with.