bank will have initial reserves of a hundred billion dollars the brics bank is set to rival the world bank in the eye that china will contribute forty one billion dollars with russia india and brazil eighteen billion dollars each and stopping. five billion the russian president uses states to explain why the bank is necessary. we hope this bank will increase the stability of the global economic system which unfortunately is not always predictable and depends on a few financial centers and reserve currencies. i call it south way that carol to me chad he's the c.e.o. of russia's direct investment funds and i call his idea as to what he felt about the need break development bank in the complex it says that it may have a different models there is a model of different countries having different developmental banks and miracle bank for example you said development bank in russia very successful showing example for how you can really grow the infrastructure and grow the elements but have a developmental base the question is still open about development being for you know g. twenty how will it wor

of the bank notifies the to be defined as well as are maneesha so for example there's already a world bank and i.m.f. and budget was a situation so i was going to be separate there was a question of how decisions are going to be made there is a question for is this bank is going to be focused its efforts is it equally on the lips of going to countries or the emerging markets so there are many issues that i think that's going to be discussed which we believe it's actually a less complex way of progress and some of those issues is doing bilateral agreements so for example we created the joint sponsor with china that would create at the joint sponsor with friends and united arab emirates and we believe that some of those joint fund efforts i actually saw a good way to put dressings because it's simply in decision making for them and would you say with the climb at the nine rate the imagined economy might you say take the amount of timing more important than ever to really kick on with a spanking get it nice and well i think it may be but then for other things that can be done for example we h

to be defined as well as the remaining should so for example there's already a world bank and i.m.f. a bunch of institutions going to be separate. there was a question of how decisions are going to be made there is a question of forces bank is going to be focused its efforts equally on all of the points you can trace on emerging markets so there are many issues that i think are going to be discussed what we believe is actually less complex way of addressing some of those he she was just doing. well we created the joint farms with china that were great at the joint bond with friends and united arab emirates and we believe that some of those joint efforts i actually put dress things because it's simply in decision making firms and would you say with the climate at the moment with the imagine a country might say speaking about timing more important than ever to really take on with a spanking get it may say well i think you may be but the other things that can be done for example we have proposals of plans that include three simple steps reduce restrictions on capital flows encourage priv

america's creation, the united nations, the world bank, the international monetary fund, the use of theollar the idea that you can sign a treaty and it will be enforced the world trade organization. china and rich sha are ben fish yeas of that. they have taken american petro dollars they have invested. so they have a huge stake in this world community. and international trade, and finance, and capitol. >> but the world is a very different place, even when you were the head of nato, we see china as an emerging power, we see russia coming out of that post soviet moment. >> dollars'. >> so it is very different. it is a time for the u.s. to step back. >> it isn't that different. >> why not? >> it runs on the same structure. sit the united nations, still the dollar, still the britain words agreement. still the world bank, the financial community has gotten way out on an edge. we have a cyber challenge we didn't have. china has grown, enormously since the early 1990's. and i think those of us that followed this closely, and i go to china a lot, we recognize china is not going to become a demo

actually make a commitment to take the petition to all the world leaders later this year at the world bank>> because the numbers again are astonishing. the world leaders promised $21.5 billion to help end extreme poverty. $7 billion has been given. compare that to 8.5 trillion that's been given to government bailouts to companies like banks. >> exactly. it's not about a lack of money, that's the whole point. it's not about a lack of resources. we have the resources, we have the technology, we have the wherewithal to see an end to extreme poverty. we desperately need the political will and this is what this weekend is all about. >> so this big concert tomorrow is in central park. last year about 60,000 people, big crowd. initially it was supposed to be a one-shot deal and then stevie wonder, not a bad person to have on your side, helped organizers realize that a second show would help spread the message even more. tell me a little more about this year's show and what you hope to accomplish. >> so this year we were so delighted because when stevie wonder put up his hand and said i want to be

when imf, world bank, all started. also taking it is place against the background of turkey becoming a trading state. i need this. you may have heard that once churchill at the house of commons when he pulled up his watch, people yelled at him saying that he needed a calendar not a watch. but i doubt i will perform at his level here. last 20 or 30 years, the turkish economy has been transformed dramatically and trade has come to lay a very important role. i will return to this issue, but we have also entered since january, since i took an interested essence it took an interested in this topic -- an interest in this topic. i need not go into the details of it, but many would agree that turkey's democracy has taken an and there are't the early signs of economic difficulties on the horizon building up. part of the background is also that turkey is in a very -- atant to your graffiti very important to geography were two forms of governments, what we could call the transatlantic form of government that relies on democracy,

in fact the world bank says that in 1981, nearly half the world citizens were impoverished, they lived than $1.25 a day. today less than a fifth of the world's population lives in poverty. in raw numbers that translates to a 40% drop, from 2 billion to 1.2 billion people. when i dug deeper, i realized the picture was more murky. most of the reduction has to do with one country, china. take it out of the equation and the numbers look very different. let's go back to 1981. back then china accounted for 43% of the world's poor. the other major contributors were south asia with 29% and subsaharan africa with 11%. past forward a decade and you'll see china's share of the world's poor began to drop. the trend continues through the 2000s. by 2010 china accounted for only 13% of the world's impoverished population. south asia's share had jumped to 42%. subsaharan had tripled to 34%. the world bank data shows the total number of impoverished chinese declined by 680 million in the last three decades. that's about 95% of the total global decline. by registering double-digit growth for three decad

of a major european nation has alternately gone into the world banking system if not more before we start looking at this funny money quirk of quantitative easing the governments of the world have spent hundreds and hundreds of trillions of dollars bailing out addicts to kensi an outmoded system called banking when the solutions to the future of finance is peer to peer it's alternative currency it's like bitcoin and it's not actually going to be a banking system as we hard before two thousand and eight that lead to some to our next story here on venture capital city thank you very much indeed patrick down from t.v. advisors always a pleasure you're welcome now a consequence of the financial crisis is the growing popularity of cyber current says basically the big question because they're free from central manipulation and government control and now becoming a.t.m. czars to be installed in cities around canada that's vegas based rover cohen is the company behind the scenes this move is being seen as a huge step to taking a virtual currency to mainstream status and breaking some of the misco

campus, and she worked at the world bank. but she moved to africa to work for the clinton foundation. >> she and her baby's father. they went there because they thought it was the safest, best place for her to give birth. and they were staying in a place right across from the mall. and they were just walking home that day. >> in washington, kristin fisher, wusa9. >> another good-bye today. friends and family said good- bye to john johnson. johnson was one of the 12 people killed in the navy yard massacre. he was remembered as an optimist and religious man with an infectious smile. scott broom has more from gaithersburg. >> i'm scott broom in gaithersburg where today the family of navy yard shooting victim, j.j. johnson said they bare no ill will toward the navy yard attacker. johnson was a career logistics analyst who could have retired, but he wouldn't. he was renowned for giving big bear hugs. >> they loved him. >> johnson was the father of four adult daughters and nine grandchildren. remarkably, his family insisted there b

she formerlyworked with the world bank. . >>> 7th graders are suspended for a full year because of a toy gun, but they didn't bring it to school. theywere playing with it in front of one of their homes. they wereplaying with it waiting for the bus and admit they were shooting bell het -- pellets at some classmates. a neighbor saw what happened and called 9-1-1. there's a hearing scheduled for january to determine if the boys will be allowed bang in school. >>> you know how an artist looks at their painting and wants to make changes? look at this art work. you lookand say you don't want to change a thing. will tomorrow be suitable for framing though. wyatt everhart with the forecast. >> it's going to be a cool start in the morning almost 60 in chester town. a clear sky, comfortable air in place. closest weather maker is in new england and in the tennessee value e lee. none of that is impacting us. into the upper 40s by daybreak. we'll talkabout how things could change into the second half of the weekend coming up it looks good on tv but is the flexible hose tying you up in knots. >> y

these were supposed to be brand-new classrooms funded by the world bank but the private company that was supposed to build them ran away with the money. 2,000 children are studying with classrooms with no windows or roofs. the ministry of education say the contracted company should come back and finish what it abandoned years ago. afghanistan hopes that by 2020 all afghan children could complete school, there's still a lot to be done to make that happen. jennifer glass, al jazeera kabul. >>> for the first time a documentary has won the golden lion in venice, that is a decision that hasn't been welcomed by all. >> when it came there were huge cheers but little in the way of surprise. italian critics have been adamant all along that one of their nation's movies would take the golden lion the top award of the venice film festival. microcommunity living and working around a major road in rome had been a strong contender from the start. but sacre gras is a work of documentary not a work of fiction. the decision to award the godden lion to this real life account, created a controversy itse

it cost two million dollars trueman seven hundred has been report was published recently by the world bank about the economic consequences of such a massive. number of. these ballots and then that. which is in excess of seven point five billion dollars. so this is something that lebanon cannot really take the syrian civil war for many is really part of a larger conflict between sunni and shia muslims with saudi arabia and iran behind the scenes pulling the strings but i think well i think i think this is a mystery in this moment and a misrepresentation of the facts. let's go back to what really happened in march. and to into a low to the over two and a half years ago. it was way of. let's say the people of that odd that time who took the streets in multiple express. the feeling. of dignity and freedom actually. has resorted to its classical tools in trying to separate among the various components of the society throughout the past let's say number of the kids you can never distinguish and differentiate between the various components of the syrian society and you don't know who is doing the

these are supposed to be funded by the world bank. the private company supposed to build them ran away with the money. 2,000 children study in classrooms with no windows or roofs. when it rains teaching stops, and there's no protection from heat or cold. the ministry of education says the contracted company should come back and finish what it was supposed to years ago. >> it is hoped by 2020 all afghan children will be able to complete school. there's a lot to be done to make that happen. >>> up in smoke - off the coast of italy. police prepared to board a suspicious ship and saw smoke rising out of it. the crew intentionally set its cargo on fire. the cargo, it turned out, 30 dons of hash is. smugglers jumped and were plucked from the sea and arrested. >> there is major flooding taking place in utah. let's go to dave warren for the latest on the forecast. >> we'll start there. that happened yesterday. the flooding is moving to the northern plains. this was the last 12 hours with the radar. see how the rain is coming in from the south

these are supposed to be brand new classrooms funded by the world bank but the private company that was supposed to build them ran away with the money. children are studying in classrooms with no windows or roof. when it rain, teaching stops. there's no protection from the heat or cold. the military of education says contractor companies should come back and finish what it started years ago. by 2020 all afghan children will be able the to complete school. there's still a lot that needs to be done to make that -p whaten. happen. >>> a an e italian film at the festival. not everyone is welcoming back. >> when he came there were huge cheers. italian critics have been adamant all along that one of their nation's movies will take the top award here at the venice film festival. matt mcgraph proves them right. the tale of the microcommunity living and working along the roads that been a strong contender from the start. a documentary and not a work of fiction. the time fay spwroeurd th favor. it created a drama of its own. >> i'm so happy because i think that the movie is funny but a little bit

no, no, i'm just saying, it is, you know, the world bank, for example, is not a particularly radical organization. the world bank last year came up with a report called "turn down the heat," which basically was saying we have to actually, all these reports that are coming out are saying, we have to let these known fossil fuel reserves stay where they are and instead take that same amount of money, right, that you would invest in -- take shell, for example, just in terms of what they're doing in alaska. >> shell oil? >> shell oil, right? they've already blown $5 billion of their investors' money in risky, badly planned, incompetently executed attempts to try to go drill in the alaskan arctic, right? that $5 billion, and that's not a -- in oil companies terms, $5 billion is not a humongous amount of money, but it's a significant amount of money. that $5 billion didn't deliver zero unit of energy, right? that amount of money could be put into research and development, could actually ramp up solar, ramp up geothermal wind and biomass and a range of other options. >> but -- >> yeah, but h

she works for the world bank in nairobi. she said she was having lunch in the mall when the assault began. >> i was eating on the terrace, and you heard an explosion and we started crawling out. we were in the back of this home goods story. it was really crazy. we saw a couple of people. one had jeans, one had a white thing on his face, but i don't really remember. >> she called it a really scary experience. five americans were wounded in the attack. >>> rescue operations are under way in pakistan following a massive earthquake. it happened yesterday afternoon. at least 210 people were killed, hundreds more were injured. most of the victims died when their houses collapsed. thousands are homeless. communications are spotty. the quake was so powerful it forced a new island out of the sea near the coast. >>> in flood-ravaged colorado six people who were listed as missing have been found safe and well. eight people have been confirmed dead. only one person remains missing and is presumed dead. patricia goodwine. goodwine loved

she is a 30-year-old harvard educated lawyer working for the world bank who went to the mall on saturdayateful to be home and alive. >> you're safe, baby. you're safe. >> reporter: overwhelmed we motion, back in her parent's arms. >> i love you too baby. >> reporter: for her mother, the last few days of waiting have been one never ending nightmare. >> i could have lost you. >> reporter: working for the world bank, she had only been in kenya since july. on saturday, she was meeting a business colleague at the westgate mall for lunch when teams of terrorists suddenly began attacking. >> people are screaming. lots of running. you hear gunshots or explosions. it's complete chaos. >> reporter: desperate to get away, she and her friend crawled into a home furnishing store and hid with 15 other people in a back room. they could hear the terrorists just one floor above. >> i could hear more machine guns and shooting in the background. that's when i realized this was a serious situation. >> reporter: after more than five hours she says out of nowhere a security team showed up looking for her and

i got to say from the people i've been speaking to today, the president of the world bank and others, ross, they think the bricks countries need to look at what is going on domestically and stop blaming the americans necessarily for quantitative easing and tapering as indeed is the creator of this volatility. it is about domestic setup and infrastructure they need to worry about. >> yeah. and it is interesting because we already have spoken to the former peruvian president. he was saying, what we're starting to see is slightly worrying for emerging market if your resources are impacted by that. he talked about every basis point drop in chinese growth, over 2 is the slowdown in latin america. what worries him most, steve, is a lack of global leadership. what we're starting to see now is a sense of as emerging markets get problems, a sense of protectionism growing, a sense of every man is in it for himself and he says one of the big problems we're facing is a crisis of global leadership. now, earlier, ian bremner referred to the g-20 where you are as the g-0. their inability really to g

the most recent set of sanctions -- two things, they don't have access to the world banking system anymore and their oil sales have been going down and that is killing them. they need to find a way out. >> which of these gestures were just gestures and what was significant in this? >> that's the $64 billion question. on the substance of the nuclear question, neither side moved very far. the iranians said we're still going to insist we have the right to enrich uranium. the united states is other big powers said, no you have to stop enriching uranium now. what did they do that gives you a sense of optimism? i think the best thing the iranians said was time is short. we want to get this done in a year or six months. why is that important? because in the west everybody has always worried, and israel has always worried that the iranians are playing us for time. they want to make the clock go slower so they can keep enriching uranium -- if they want to make the clock go fast, that's a change. >> the president said everything had to be verifiable. how do we verify and how do we trust, not to use

and the world bank if it was that as a safety net to support the struggling emerging economies so there was a danger that the political tensions would completely override the proceedings but there was certainly plenty business still's on agreements made here at the g. twenty in st petersburg. he would say today up next a special report on u.s. soil would you say what sites like. iraq afghanistan the balkans somalia haiti libya yemen and so on and so on the list of engagements and airstrikes by post cold war nato just keeps getting longer and now it looks like it's serious turn a lot of people have written me asking me to predict what is going to happen next which for me is a possible i'm not good at predicting the future but i can say is that we are living in a very tense moment in history many argue that the u.s. economy with its unfathomable debt is really propped up by war and the petro dollar so if the u.s. backs down here won't could be the beginning of the end for the world's only hyper power but if they do attack syria there will probably be some sort of reaction from iran russia

safe now after arriving at dulles airport this afternoon, american harvard educated lawyer for world bank in kenya was having lunch at the west gate mall saturday when terrorists suddenly attacked. >> all of a sudden there was this explosion. and everybody like hits the floor and we hear machine guns. and then maybe ten seconds later or so we're still trying to crawl out. when they first came in, i mean, they were just shooting. it wasn't -- i mean, there wasn't really -- they weren't asking any questions. they were just shooting. >> reporter: crawling, she and her friend made it to an employee break room in a nearby store and waited with 15 other people for five hours they hid listening to gunfire. she texted her father, please pray. i love you all very much, she wrote. >> you just feel so helpless. >> reporter: and out of nowhere, she says, an american security team showed up. >> when this american security forces guy came back and said, look, we've been under a lot of pressure to get you out. if you want to get out, we understand it's dangerous, but this is probably your best shot. >>

a harvard-trained lawyer with the world bank, bendita was in kenya having lunch in the mall on saturday when terrorists suddenly barged in. >> and then all of a sudden there is this explosion, and everybody like hits the floor. and we hear machine guns. and then maybe it was ten seconds later, we were still trying to crawl out. it was the firexplosion, and wh they first came in they were just shooting, they were not asking questions, just shooting. >> reporter: crawling away, she and her friend made it to a break room in the store with 15 other people. their only defense, a fire extinguisher? >> you could hear the feet and some talking, some in other languages. sometimes you would just hear random things like muslim and christian. and then you would hear just like random things, and people would respond or scream, don't shoot. and then you would hear some people walk and some people get shot. >> reporter: for five hours they hid, listening to the gunfire. bendita texted her father, please pray, i love you all very much. >> you just feel so helpless, you know? >> reporter: and then out o

. >> reporter: a harvard-trained lawyer with the world bank, bendita was in kenya having lunch with a friend when terrorists ran in. >> and then all of a sudden there was this explosion, and everybody like hits the floor. and we hear machine guns. and it was maybe ten seconds later, still trying to crawl out. it was a second explosion. but when they first came in, they were just shooting. i mean, they were not asking any questions, they were just shooting. >> reporter: crawling away from the gunfire, bendita and her friend made it to an employee break room in a nearby store and waited with 15 other people. their only defense, a fire is distinguisher. >> and then we would just hear like random things, like christian, muslim, and then people would respond, don't shoot, and then you would hear some people walk and some get shot. >> reporter: for five hours they h hid, listening to the gunfire, she said to her father, please pray, i love you very much. >> you just feel so helpless, you know? and then out of nowhere, an american security team showed up. >> this american forces security guy

only politics and diplomacy being talked at the summit the converse stagnation and plans for a new world bank in just a few minutes r.t. looks at the financial side of things being discussed in st petersburg. well i'll be back with more international news very shortly to stay with us. right this exact. first strike. and i would think that your. on our reporters were very. welcome back you're watching r.t. live from moscow now still think you are safe and sound one of the line well don't and new batch of eye opening documents on the joint us british surveillance program has been unveiled this show country snooping agencies are able to lockpick any digital data you possess using their multibillion dollar budgets they managed to create an army of eavesdropping supercomputers while lobbying their way to weaken some of the major brands software laura smith has the details it seems that they're capable of doing practically anything essentially and all of the stuff that you do online the emails that you send is the banking data that you insert when you transfer money a shock paying all those passwor