unlike the suez canal, the panama canal works by lifting bates up a series of locks into an artificial it means the canal here is reliant on rainwater, which is in short supply. on rainwater, which is in short su -l . i: g; on rainwater, which is in short su.l _ ii ,': on rainwater, which is in short su--l. :: g; , supply. 2023 has been the second driest _ supply. 2023 has been the second driest year - supply. 2023 has been the second driest year history | supply. 2023 has been the i second driest year history of the panama canal.— second driest year history of the panama canal. they can help 's chief sustainability _ �*s chief sustainability operator says the drought made worse by the el nino weather phenomenon is expected to last until may. phenomenon is expected to last until ma . , , until may. the big problem we're having _ until may. the big problem we're having is _ until may. the big problem we're having is lack- until may. the big problem we're having is lack of - until may. the big problem| we're having is lack of rain. in the rainy season, from may to december, we are suppos

oceans is the natural route and block alternative meaning that more time and extra costs and the panama canalset of locks in an artificial leg in five feet above sea level but it means the canal here is reliant on rain water which is in short supply stability doesn't 23 has been the second race year in the history of the panama canal. and saying the drought made worse by the weather phenomenon is expected to last until may. we phenomenon is expected to last until ma . ~ ., phenomenon is expected to last until ma . ~ . ., until may. we are having lack of rain, until may. we are having lack of rain. and _ until may. we are having lack of rain, and the _ until may. we are having lack of rain, and the rainy - of rain, and the rainy season which goes from may into december we were supposed to get tonnes of rain and get blakes and el nino year and now that we are in summer, the lakes have started with very low level and we had to cut down a number of ships being able to transfer to maintain the lake level through the summer. the lake level through the summer-— the lake level through the summer. , .

the canal's chief sustainability _ the panama canal. orse by the el nino weather phenomenon is expected to last until may. the big problem we are having is lack of rain. the rain season which goes from made teal december, was supposed to get tons of rain but this year, there was little rain, we had el nino year and now that we are in summer, the lake started the summer with very low level. so, we had to cut down on number of ships being able to transit the canal to maintain the lake level through the summer. the lake level through the summer-— the lake level through the summer. . ~ , summer. on the lake, fresh water reservoir _ summer. on the lake, fresh water reservoir that - summer. on the lake, fresh water reservoir that feeds i summer. on the lake, fresh i water reservoir that feeds the locks, the canals hydrologist showed us first hand the scale of the problem. the showed us first hand the scale of the problem.— showed us first hand the scale of the problem. the level is as ou see of the problem. the level is as you see in _ of the

stephanie sy looks into the problems for the panama canal. >> the canal with one of the most importantaterways in the western hemisphere and carries 5% of the world's maritime trade in 40% of u.s. container traffic. with water levels below normal, authorities are allowing 24 ships to cross a day. that means more delays and higher shipping costs. the authorities deputy administrator joins me from panama. thank you for joining the newshour. describe the severity of the situation at the panama canal. you are operating at a reduced capacity. 24 ships a day. do you expect the volume to go lower in coming days? >> good afternoon, happy to be here. no, we are forecasting we will stay at 24 until the end of april, beginning of may, when hopefully rainy season starts again. we have to reduce the amount of traffic because we are entering the dry season. we will have no rain whatsoever. we had a very dry season in 2023 he said that all over the world, not only panama. a number of transits and maintaining the 44 foot draft for our clients not to be impacted too much. we have less spots we are tryi

michelle fleury, bbc news, panama canal.ol a computer mouse with just your thoughts? that that is what the first human patient of brain chip start—up neuralink can do, according to elon musk, the founder. he says they've made a full recovery "with no ill "effects that we are aware of" — his quote. the chipp was planted last month, with the goal to connect human brains to computers to tackle complex neurological conditions. that's it for this edition of asia business report. thanks for watching. voice-over: bbc news, - bringing you different stories from across the uk. every step is going on the right— every step is going on the right direction. this was not available, even when i lived here — available, even when i lived here~ i_ available, even when i lived here. i neverturned available, even when i lived here. i never turned to the mountains for something to do. area _ mountains for something to do. area has — mountains for something to do. area has so much to offer. it's more than just a landscape. to some people it is a

the chief sustainability officer of the l the panama canal. worse ijy says the drought may —— made worse by the el nino weather phenomenon is expected to last until may. the by the el nino weather phenomenon is expected to last until may.— expected to last until may. the big roblem expected to last until may. the big problem his _ expected to last until may. the big problem his lack— expected to last until may. the big problem his lack of _ expected to last until may. the big problem his lack of rain. _ expected to last until may. the big problem his lack of rain. in - expected to last until may. the big problem his lack of rain. in the - problem his lack of rain. in the rainy season which goes from may to december, we are supposed to get tonnes of rain and fill up the lakes, but this year there was very little rain and now we are in summer, the lakes started the summer with very low levels, so we had to cut down on the number of ships being able used to maintain the lake level through the summer. the freshwater _ level through the summer. the

now we're at the panama canal. one of the world's most important trade routes. china, is it the 2nd largest client after the us here to a project idea has been floated that could benefit chinese interests. the f a o is looking for investors for a panama food hub initiative here. green from brazil, for example, could be stored here temporarily before being shipped onward to asia. the china has been investing along the panama canal for years. but according to latin america expert evan ellis. others are leading the way internationally in agricultural product, shipping. the panama canal has really never been used as an agricultural distribution hub. it has been used for ships that are carrying agricultural goods that need to transit from atlantic ports to like those of bruce, illinois, argentina, 2 pacific destinations wide china. but the magic of this proposal from a chinese strategic perspective is it leverages a united nations organization and the government of panama to create something that would give the chinese

and — how climate change is hitting the panama canal, exacerbating the supply chain crisis.elcome to asia business report. let's begin in the us, with just announced plans to impose major sanctions on russia. officials say the measure also target a range of items, including sources of revenue for the economy. the move follows the death of prominent russian opposition leader alexei navalny, as the war in ukraine rages. more from new york. when news broke pry friday that alexei navalny, the foremost of russian president putin, died in an arctic prison, questions arose of how the us would respond. now we have one answer. the us is expected to announce further sanctions against russia. this comes as washington struggles to agree on funding to assist ukrainian armed forces. this week marks the 2—year anniversary of russia's full scale invasion of ukraine. at the start, the us enacted a slew of economic sanctions against russia. those included freezing russian banks and businesses out of western financial markets, and along with europe, canada and japan, freezing some $300 billion

unlike the suez canal, the panama canal works by living books up to a set of locks into an artificialwater which is in short supply. 2323 canal here is reliant on rainwater which is in short supply. 2023 has been the second _ which is in short supply. 2023 has been the second rice _ which is in short supply. 2023 has been the second rice you're - which is in short supply. 2023 has been the second rice you're in - which is in short supply. 2023 hasj been the second rice you're in the history of the canal. the been the second rice you're in the history of the canal.— history of the canal. the can's chief sustainability _ history of the canal. the can's chief sustainability officer - history of the canal. the can's| chief sustainability officer says the drought, made worse by the el nino weather phenomenon, is expected to last until may. the nino weather phenomenon, is expected to last until may-— to last until may. the big problem we have is lack— to last until may. the big problem we have is lack of _ to last until may. the big problem we have is lack of rain. _ to last until may. the

but just case in point, three ports on the eastern side of the panama canal, one gets an economic trouble, the ccp moves into its belt and road initiative, scoops up the distressed assets, here's the kicker, now has in that port, state subsidizes the fees, drops into near zero, puts the others now into distress and starts gobbling up he shares. so between that diplomacy, belt and road initiative and those kind of very aggressive tactics, it's not only the panama canal, it's now we understand their naval presence in djibouti right in the key entrance of the red sea which is building peers and now they could accommodate the larger ships in the world, also an aircraft carrier. the search for ports on the western side of africa. we could go down the list. it's part of a full on, part of president xi's approach to replace the united states as global hegemon by the 100th year anniversary of the chinese communist party. >> if not sooner. so with this i will open up first two questions in the audience. why don't we go first-tier, the gentleman in the middle. >> hello. my question is we have a lot

, a drought in panama with lesser shipments through the panama canal.ve a shipping challenge around the globe as far as exports. katie: absolutely. whether it is geopolitical or the weather, it feels like the supply chain can never truly get organized. you mentioned supply and demand. i want to talk about those dynamics when it comes to corn. u.s. farmers just harvested a record crop. truly astonishing. they do not want to sell because of the prices. how do you trade around that? >> we and ethanol producer in the united states. with north american customers, that business goes on regularly. the domestic flow of grains is steady in the united states and we are ac tat. the u.s. trade export on corn has declined with the brazilians taking a share of that market now. katie: what do you think will finally be the catalyst for them to sell meaningfully? is it getting to a certain price on corn or some other factor? >> we have seen a reset in prices the last couple of months. farmers at the time of harvest were seeing good crops. they will need to come to marke

the panama canal zone is still some parts are still under u.s.influence, but much of it has been purchased by the chinese which is a really interesting kind of twist to the idea of sea power and in whose hands lie sea power today. we talked about roosevelt as as a diplomat we talked about what he was doing that during this time. why in this john singer sergeant painting is he posed in this way? well, sergeant was really going to irritated with roosevelt and roosevelt was getting irritated, sergeant, because they couldn't figure out the right pose. and so roosevelt being roosevelt, he suddenly turns and is just like, okay, that's it. i'm out of here by like i'm done with this sitting, which is what we call the the, you know, sort of session between an artist who's painting another person. so the sitting is basically being called over. and you can tell that he's like in command, you know, he's like, done. and he just put his hand on the new war, which is the sort of banister, the ball that's decorative of the beginning of the staircase banister. an

but just case in point, three ports on the eastern side of the panama canal. one gets in economic trouble. the c.c.p. moves in through the belton road initiative. here's the kicker, now has that court state subsidizes the fees. drops them to near zero. puts the others into distress and starts gobbling up key shares some of between debt diplomacy, belton road initiatives and those tactics it's not only the panama canal, it's now, we understand the -- -- their naval presence in djibouti in the key entrance of the red sea which is building piers now that could accommodate the largest ships in the world, also an aircraft carrier. their search for ports on the western side of africa we could go down the list. it's part of a full-on -- it's part of xi's approach the united states of a global hegemon. >> so with this, i'll open up the questions in the audience. why don't we go first to the gentleman in the middle? >> my question is, we have a lot of untapped talent among the genz, a lot of younger americans are finding it difficult to find traditional most modes of e

atlantica, that is , taking into account the fact that the main channel of interaction is blocked, the panama canalhat is, the regionalization of this energy market, another energy market, which is called southeast asia connected with china , it begins to live in its own way, that is , a division occurs, against this background, higher prices will correspond in that segment where more expensive producers, and this is an intra-atlantic region, in general it is necessary with the panamanians also sit down to have a heart-to-heart talk, they have a grudge against the americans for some reason, i think nature has already sat down with the panamanians and talked, so there was a drought there , so the third one moved away, the question is different, that now this seems to be the most important direction, plus to everyone from the point of view of agriculture... this is also important, because not only the oil and gas components are carried out, the main part of the export traffic, import traffic, respectively grain, comes from the black sea, including, i remind you, grains there novorossiysk terminals, f

jimmy carter was able to get the united states out of hands holding the panama canal zone as a overseas territory. however, it still is one of those ocean highway connectors and who owns the majority stake in china today, which is you know, so it's very interesting to think about how this history laid the foundations and why it matters to this day. it's just really a lesson of world politics, if you think about it. so please come see the show. it's very interesting to think about it in that way. thank you. thank you for that explanation of that through line and just in continuation with that, i want to talk about the something sarah said, and i a quote from her that that touched me. and she said, the worst horrors of slavery were not the material ones. you haven't said it on the stage, but we said it backstage. so that really moved me. and i want to talk about that, that intangible and how to you still explain pain beyond what is the physical. yeah. how do you make that impact on business and that's for any of us. how do we how do we reach beyond, you know, the tangible objects, the exh

about| of the current concern about trade being impacted by the war in gaza and of course the panama canalhat last week on the programme. the issues with regards to shipping. to what extent will that be tackled at this conference? what can the wto do about any of this? the wto do about any of this? the wto was set — wto do about any of this? the wto was set up _ wto do about any of this? the wto was set up in _ wto do about any of this? tue wto was set up in the wto do about any of this? tte wto was set up in the 905 wto do about any of this? ttj: wto was set up in the 905 to be wto was set up in the 90s to be that place where trade negotiations and conversations, and the importance of world trade, could be promoted. there are so many disagreements. we have the backdrop of war and conflict. the supply chain issues are really important, because what's happening is we are beginning to see negotiations outside of the world trade organization. all the trade negotiations have supply chain resilience, critical supply chain acuity in them if you look at the us and them if you look at the us and t

and how climate change is hitting the panama canal exacerbating the supply chain crisis.the us, where presidentjoe biden has just announced plans to impose "major" sanctions on russia. officials say the measures will target a range of items, including sources of revenue for the economy. more details will be provided on friday. the move follows the death of prominent russian opposition leader alexei navalny, and comes as the war in ukraine rages on. president biden has blamed russian counterpart putin for navalny�*s death. the bbc�*s erin delmore has more from new york. when news broke on

global shipping in crisis: from the red sea to the panama canal, maritime trade is being severely disruptedpanies who took part in a 4—day working week trial are reporting lasting success. could this become the norm?

, somewhere along the line i don’t know, in the same ecuador or whoever is nearby there is the panama canals a hat to panama, that’s why everything, it’s definitely ours, but here’s an interesting point, and about the situation on the zaporozhye front, it literally increased several times in 2-3 days the number of kamica drones used and fpv drones, well, that is, they really began to have a hunger for projectiles and they began to compensate for it with a large number of drones, this has been happening for some time now, not only with the help of yes, well, now they’ve flown into one area, conditionally 6-7, literally 42 arrived in just one day, that is. and a sevenfold increase in quantity, plus the uavs used as transmitters clearly hang in the form of an aircraft type and are amplified to 15-20 km in force, and here, by the way , is an interesting point, what about the creation of forces unmanned systems of the armed forces of ukraine, they have already begun to speak out loud, and if we look at the statement, revelation, report, whatever you like , we can evaluate this publication by the

and — how climate change is hitting the panama canal, exacerbating the supply chain crisis.r alexei navalny, as the war in ukraine rages. more from new york.

and how climate change is hitting the panama canal, this exacerbating the supply chain crisis.tjoe biden has just announced presidentjoe biden hasjust announced plans to impose major sanctions on russia. officials say the measures will target a range of items, including sources of revenue for the economy. the move follows the death of prominent russian opposition leader alexei navalny, and comes as the war in ukraine rages on. more from new york.

panama under the pretext of protecting its citizens, in fact, in order to continue to own the panama canalsought dictator françois duvalier, better known as papa dogue, to power. the dominican republic, the era of the reign of local dictator rafael trugilio, which lasted from 1930 to 1961, can rightfully be considered the most bloody. while he was in power, more than 50 thousand people died in the country, 10 thousand of them black, and the guatemalan dictator. the people of countries under the rule of controlled dictators have now begun to work on the united states. surrender and flee the country, but he refused. the magalianis radio station brought the president's final address to people around the world, recorded against the backdrop of gunfire and an explosion. i will not resign; at this crossroads of history, i am ready to pay with my life for the trust of the people. long live chile, yeah long live the people, long live the working people, these are my last words. i am sure that my death will not be in vain, i am sure that it will at least be a moral lesson in punishment, treachery, c

largest ship ever built, the nok neves, with full draft could not enter not only the suede and panama canals lomanche, but belonged to this class of oil ships. loading its draft was 24 m, the smallest tanker, yes, absolutely right, with the full depth of the channel - 23, now the ship has already been dismantled, large ships 400, auction 800 from victoria, 600 from you, 1200 from sergei, vabank, victoria, vabank, sergey, vabank. the largest ship from this material was made in in 2015, the residents of karlsrui celebrated the city’s anniversary; even a little rain that started during the folding process did not interfere, but i’ll assume that it was ice. victoria, what would you like to answer? well, it's actually the same thing. evgeniy, paper. that's right, that's the right one. answer: sergey , take your pick, and there are 500 skyscrapers . the landmark 81 skyscraper, commissioned in 2018, temporarily took over the title of the tallest building in southeast asia, beating the twin towers in kualalumpur, located in this city of vietnam, but i’ll assume that’s all -it's hanoi. no, nihanoi, o

and — how climate change is hitting the panama canal, exacerbating the supply chain crisis.ia. officials say the measure also target a range of items, including sources of revenue for the economy. the move follows the death of prominent russian opposition leader alexei navalny, as the war in ukraine rages on. more from new york.

drought and lower capacity in the panama canal, the adverse security dynamics in the black sea, the annualort capacity around china in the new year, depending on the sector, ultimately it increases the risk of port crowding and container displacement. several transmission points for higher cost to be passed onto consumers, particularly higher freight rates, higher insurance premiums will stop the good news if i can provide some this morning is that taken in isolation, disruption to industrial manufacturing, sourcing of components, inflationary pressures on goods has been quite muted. in the automotive sector where i spend most of my time was awesome early disruption. hasler in germany, although in belgium scaling back production but it normally pretty quickly. speaking to industry, what we keep hearing is at least it is not as bad as the pandemic, in fact it is nowhere near as bad. that speaks to a different level of corporate readiness following the back—to—back shocks of the pandemic and the ongoing war in ukraine. in some wa s, ongoing war in ukraine. in some ways. has— ongoing war in u

chinese companies bidding on several projects related to the panama canal should be a concern. in argentina on maritime installations enable power production into antarctica, which gives china access that it does not have currently. space is where i am concerned. china has invested and continues to invest in 11 facilities in the region. across five different countries. bolivia, venezuela, peru and bolivia. not only is there the rending of control to be able to use these facilities for tracking and command, giving china access to -- without these facilities they would not be able to communicate with satellites in space vehicles. this fills a gap for china that it would not have otherwise. there has been intelligence that beijing can remotely control these facilities. why is that a problem? because of the civil use, but also the military aspect, allowing china to facilitate military communication. space assets that pass over the southern hemisphere and enable china to do things like jamming and counterspace activities. there is a lot to focus on. and then the mining of rare-earth

>> let's talk about the geopolitical risk related to the red sea and panama canal the numbers that our looked at, we think it could add .70% to good inflation the trend we saw over the course of last year could be coming to an end with core inflation there is not a resolution coming up with the war. that does have an impact on the commodities side, we are looking at oil going into the 80s. that is more driven by the supply and the demand factors. not so much by the geopolitical risk we have seen the market right now with suez putting in a geopolitical risk there. >> i want to talk about the bond market jeff gundlach flagged the two-year bond and five-year bond he said the fmoc will talk about qt in the march meeting. >> we believe they will give guidance at the next meeting they signal the runoff will be cut in half from 60 billion to 30 billion we like the five years and we still like steepeners. we feel there is a scope for it to come down that will play out over a period of time. i think higher for longer over the medium term is here to stay. that really comes back to the fiscal deb

inaudible] but i think particularly chinese companies bidding on several projects related to the panama canalhould be a concern to the u.s. you know, this is a u.s.' near abroad in argentina on kind of a dual use maritime installation, in the southern part of argentina really enables china to, enables sustainment of power production to antarctica which really gives china kind of access that it doesn't have currently. i think on space in particular is where i'm quite concerned. now, china has a invested and continued to invest -- continues to invest in an elaborate facility, space facility, in the region. across kind of five different bolivia, venezuela, peru, argentina and bolivia. and there has been quite a bit of reporting, not only is there kind of the renting of control to the prc to be able to use these facilities for telemetry tracking and command, essentially giving china access that it doesn't really have without these facilities to track and communicate with this really growing -- space vehicle is. this is, it feels a critical gap for china that a it wouldn't have otherwise. but also

and the threats to the supply-chain and general and the war in gaza and the suez canal in the panama canallenges because of water levels because all those things in the totality created environment with the fed or our members there doing every thing that they can to work with their shippers to reroute goods to plan ahead and send things to the west coast that would've gone to the east coast to move them across the country by rail and intermodal as we get further into the season we need a solution and part of the answer we have to bring in a broader coalition, the chinese need to be part of this they need to be talking to people in the region in saudi arabia and iran and the rest of the middle east saying we need to fix this problem. they are impacted as well, this is a global challenge and it will have indications here and it requires a much broader coalition of partners. neil: what we do now is not working, thank you very much. matt shay, keeping you on top of developments more pressing for 11 million californians under the threat of the massive flooding. i mean massive this is a once-in-

beginning to surge and that has to do with the turmoil in the red sea in the low water levels in the panama canale is an index i follow called the wti freight index of 170% in a couple of months, what we are going to see is most likely a spike up and inflation and if everybody is waiting for the fed to lower interest rates, the march interest-rate cut is off the table. now we are looking at may and the odds of a may interest-rate cut are now only at 55%. that is falling fast because keep in mind we have a tight labor market and there seems to be an unprecedented amount of optimism that we have a soft landing. i don't believe we will have a soft landing. this week will be crucial to determine whether the shipping crisis is going to push up prices again which would be very negative. stuart: we will check it out, jeff sica. coming up dhs secretary alejandro mayorkas was asked if he bears any responsibility for the border crisis. roll tape. >> it certainly is a crisis and we don't bear responsibility for a broken system and were doing a tremendous amount within the broken system but fundamentally con

conflicts that we now see, the problem in the red sea and the suez canal and we also problems in the panama canal because of climate change. there's so many uncertainties and, of course, all the elections that we see around the world, and what that may bring. i think there are a lot of uncertainties that make forecasting difficult. however, i'll take a bit of risk and seth think it will still call it would be better than 2023. that may. it may not come in at 3.3% below that, but much better than what we saw in 2023. unless a major war breaks out, then all bets are off. >> thank you. minister, , jimmy has prosperedn parts for many years from buying energy from russia. and selling cars to china. all of that is changing, , china is making some ieds. how do you marry the two? >> given the historic shocks we have seen the last years, the global economy has shown remarkable resilience and the german economy has shown resilience as well. think about the energy situation. you have mentioned. we had to reinvent the german energy infrastructure and supply in the last 18 months, and so we have not the growt