tv [untitled] July 10, 2021 12:30pm-1:01pm +03
days and it's the sort of baseball with a funny stick and i don't really get it soon. the sound of leather own willow will ring out from the barcelona international cricket club. the plan is to turn this field of debt into barcelona as field of dreams, as the movie said, if you build it, they will come and they'll be following in the footsteps of their heroes. and i always see on tv. they're playing cricket like shadow in my mom has, i'm on and there are months every clear and i get the idea. i want to play this game. jonah whole al jazeera barcelona. ah. what you under there with lisa hill rom, the reminder of all top stories. haiti's interim government has asked the international community to send in troops to help stabilize the country after the
assassination of president of an annoys. the united states says it won't be un, has counseled humanitarian a flights to haiti this week, due to safety concerns following the assassination of the president efforts to respond to the recent increase of cobra. 1900 cases in the country are being put to risk. the situation is also threatening the efforts to provide humanitarian assistance, especially food and water to people who have been internally displaced. due to recent gang attacks, the international organization for migration and other humanitarian colleagues estimate that as july 4th, some 800000 people were displaced in puerto prince, a greater metropolitan area of those nearly 14700 were displacing the beginning of gang clashes in early june, longer that the police arrested the owner of a factory where 52 people were killed in a fire. he's been charged with murder. 7 other people are being detained. about 40 work has remained and accounted for. a separate inquiry has been launched into the
use of child labor at the factory. the un security council has approved a 12 month extension for a deliveries into northern syria. the program was due to end on saturday trucks from turkey. kerry supplies for millions of syrians every month, russia once a to fly through damascus to its allies in the syrian government. fine sciences the battling, hundreds of separate fires and eastern russia as it suffers unusually high temperatures . the region is mostly covered by forest and is particularly vulnerable to wildfires. peasant joe biden has called on russian lead of land to be put into crime down on cyber criminals. last week, more than a 1000 businesses in the u. s. were affected by ransomware attack, originating from russia, security analysts will runs wherever tanks have become the main focus of groups seeking to extort payments from companies. those are the headlines mornings and a half now with fully now counting the cost offered to yeah,
one of the world's most famous film festivals is back with love mandatory and doors, the social distance thing in place in some countries unable to attend. and like 2 or 3 pieces, recreate the magic of the coverage through the council festival. now who's hello, i'm sammy say that this is counting the cost and i'll go look at the world of business and economics this week, china band, bitcoin mining and trading. while salvador welcomes it, will the crypto currently provide an economic bonanza, become a gangsters paradigm? in the shadow of the silicon valley's tech giant and wall street money can europe deliver more multi $1000000000.00 companies? we talked to the ceo of one of germany's rising star. can gas counseling,
super cause, reinvent themselves for a green future? we talked to the chief executive of one of the world's most desirable. com. the news, as el salvador became the 1st country to make bitcoin legal tender. china was clamping down on trading and mining the crypto currency that took huge chunks out of its price and valuation. beijing says bitcoin disrupt, 2nd, omi quarter and facilitates illegal acid transfers and money laundering. but china is also concerned, it would undermine the road out of its own digital currency. so why is el salvador 39 year old baseball wearing president ny buccheri pushing the use of the crypto currency? well, here are 3 big reasons of salvatore is a dollar eyes country. it doesn't have its own currency interest rates and monetary decisions by the u. s. federal reserve have a huge impact on el salvador economy. what does that mean?
take the pandemic. many governments have been able to print money to fund support, support families, but a country without its own currency can get its own central bank to bytes debts. it has to resort to international investors all the world bank and i m f. bit con, enables it to diversify its reserves. remittances may come almost a quarter of el salvador, g d p. but traditional transfer companies charge fees, which means is losing out on money. what about the downsides? why wouldn't you consider it for daily use, for example? well, the huge fluctuations in the price of bitcoin is one reason. if your currency can lose so much value in a day, people will lose confidence when they see the value of the savings evaporating. it's not easy to cash out of bitcoin to, although salvador is creating its own wallet and offering $30.00 to anyone who signs up to the at financial institutions will need to hold more cash. just in case
there's a run on banks because of the volatility of bitcoin will. that means there's less cash in the economy to fund the growth. there are many other concerns, credit rating agency fits just said bitcoin would increase regulatory risks. there's the potential for violations of anti money laundering and terrorist financing standards. so how did this idea gain traction? manual report reports from the small salvador and beach town where crypto has been part of daily life since 2019. the this is a soon to know locally as bitcoin beach. this small salvador and tours town is home to a variety of small businesses whose owners all have one thing in common. is crypto currency. to do this, i think and i think they were a tourist who didn't bring cash, would come and say they wanted to eat something and they asked if they could pain bitcoin. i said to myself, this is a good strategy. i'm going to use and i'm going to start collecting. i downloaded
the app, and i started selling a lot more. i'm doing. the success of the bitcoin beach project has boosted the popularity of crypto currency. salvador. the government announced bit point would become legal tender. therefore, the law of coin is approved. supporters of the measure say the new law represents a vote of confidence in using block chain technology to bring in formal sector workers into a 21st century economy. you know, somebody and a banks are not necessarily, well, this is not the important thing that many salvadorans in this country. they cannot use a bank because they have thousands of requirements. el salvador now becomes the 1st country in the world to formally legalize the digital currency. the initiative was led by all salvatore's president. now you bu kelly on twitter, he called the passing of the big coin law historic. in the short term, this will generate jobs and help provide financial inclusion, 20001000,
the formal economy and in the medium and long term, we hope that this small decision can help us push humanity at least a tiny bit into the right direction. there are also critics who ward of the risks of point price fluctuation, momentum. the moment bitcoin becomes a legal currency, problems appear, including and it must basic use which is a form of exchange. and this is related to the volatility of the price of coin. while some also ward that legalizing and decentralize digital currency could be wielded as a tool for corruption. bitcoin believers in sante and across of salvatore, say the new law will only increase financial inclusion and has the potential to spur economic development. well, joining me now via skype from london is 9 i slam 9. is the chief market analyst with avar trade. good to have you with us. so do you think the move towards bitcoin
is good for salvador? good fritz economy? thanks for having me. i think there are pros and cons money comes with this particular view because if you look at the dollar info and the daughter expert in the countries experts, you can see that the, there isn't much of a reserve and the country is, is, is in the country because it doesn't have its own currency for live on the daughter as in terms of its currency. so i think in terms of pros, bed yes, you know, we could see as the economy going, especially with the mining sector really kind of taking off. but at the same time, you also have to think and factory and the enormous amount of a while until it he and right now the government is saying that it is great. just a fund of 150, with a 1000000 in or in around that particular mom. say you will, you will see,
you will think that a k given they want to let you that we have seen around bitcoin. how quickly can that really shrink? i mean, if you are thinking of providing iniquity to bank refresher shows such a reserve that can shrink pretty quickly, or at the same time it can. so who are massively as well, if it tends to bitcoin for admittance, is might that threaten to dry off its pool of dollars? yeah, exactly. so this is the main issue with respect to the coin. because the higher volatile as he, as of is discuss i was discussing. so if we see another round of 2018 crash with respective bitcoin, we could easily see the liquidity pools which are being created by the country to running into some serious sort of trouble. and remember the debt to g d p ratio is already running at 90 percent and china at the same time,
of course is banning mining of bitcoin. could we end up saying, do you think those chinese mining machines end up in el salvador recruit certainly . see that became an issue of fish and sea him and of course we do have evidence of chinese mining machines. i'm moving to are going to taxes as well. so, you know, we are seeing that outflow from trying them in terms of mining to various possible well, but outside of adobe, the respective thermal energy. i think that is the major guess among the bitcoin timidity. and if you look at the energy of issues currently being used from fossil fuel and from the renewable sources, you could clearly see from, according to several different ripples that have gone and sort of past that 51 percent mark, meaning 51 percent of the energy which has been used is coming from renewable
sources, not from the fossil fuel sources. so what would that do then to a country like l, how the door when it comes to its energy, consumption. patton, i think obviously a big coin is a very energy kind of a high energy comes in from the, from, from day one in terms of its mining. but currently there isn't any strong evidence that the kind of the country chrissy or could face any of the black out issues. so that there isn't that there is no very clear evidence in relation to that. so we don't really anticipation that can really happen to help us through the country as a economy. our country could face any sort of those trouble. the future. we're talking about l. salvatore, you know, as the 1st country that makes this move, can it be a model for other countries, though? especially when you keep in mind? well, i think 80 percent of bit coins already been mind. the very intriguing question,
and i'm going to go back to my opening statement because that countries in any position because it doesn't have it has his own sovereignty, but he doesn't have his own currency relies on daughter. so i think that kind of very much answered the question, how many other countries can really adopt that? do you think it'll open up the economy there to money laundering and other issues? i think that particular aspect has always been very much associated bitcoin from day one. by remember, dollar money really comes to money is andre, and issues or anything like that. i think given the fact that we have many regulators jumping into this price, we have an enormous amount of changes coming under the regulation. so that money laundering aspect isn't the really fast concern for any of any, any, any investors re, a final line. would you make of the i m s concerns about this move towards bitcoin?
like i'm isn't really going to say that that's a great. let's go ahead and start using your reserves in, you know, moving away from my daughter and using bitcoin. because if i am asking us the greenlight and then that goes back to your earlier question, a lot of other countries slip, i might say that, okay, let's do that. but you know what? that particular question by there comes to us core press, whether it comes to countries, whether it comes to portfolios, institutions, hedge funds, family offices, that is coming now. and there again, once again, theresa sufficient evidence right now, given where the big one qualifies are now. and none of that supply is being sucked up by the institutions and by, by some, some other sources for major other other players are really apply. why? again, because of diversification. so if i am going back to the original one,
if i mean i m f isn't really going to get the glean lice from from day one. yeah. ok, go ahead and then do your recess in big coin. but i think the investors are very much keen because of the intriguing element, an upside that be really produces what i have my specially that it is being dumped as a digital gold. so i think every single matters, the particular lands or i name is in good talking to thanks so much the silicon valley has long overshadowed europe with its tech titans, but last year, europe registered. it's $281000000000.00 company that some achievement. but continental europe continues to lag behind the u. k for funding and in some cases it's cities are being pushed out of the top 10 funding rankings. according to tech nation, the u. k is catching up to china on the tech investment front. venture capital investments reached
a record $15000000000.00 in 2023 c investment into london tank was more than paris . berlin and stock home combined at 10600000000 in 2020 u. k. cities made up 20 percent of the top 20 european tech cities. now that could change with the u. k. axis of the european union starting with investments like this. berlin based, we folks raised $650000000.00 from investors and what it called a record breaking ground for a so called insure attack. so let's find out more about we fox with its chief executive julian tyco. good to have you with us. so if you're looking usually for car insurance, home insurance, you'd go to a recognized insurance company, maybe a website, but you're actually now selling insurance through agents, right? i thought we've done away with that. what's happening? well, it's quite the opposite to be honest. many people say insurance agents are depth, we say opposite is true, and still today, 9 out of 10 insurance policies globally,
a sold by human agents. and instead of focusing on the one out of 10 policies and make it easier and better, what we say is the big potential isn't digitizing the 9 out of 10 policies and investors understandable the much bigger potential. i think our fundraising of 650000000 just recently announced as a signal for this approach being a very good approach to disrupt insurance on a global, on the global dimension. interesting. some of the biggest ensure is munich already allianz the german right is that helpful when raising money to be part of a specialist hub? there is a big tradition of european insurance companies making a global. and if we look at we fox, we have started off in germany, and we are now in more european countries. our ambitions essentially are global, and they are the same as that's also in the u. s. 9 out of 10 policy. so
sold via human agents, also in asia, 9 out of 10 policy, the sold via human agents. we want to continue the tradition of european insurance company really shaping insurance on a global scale. but generally speaking, european capitals have lagged behind when it comes to raising money from venture capital. right. why is that this time is over? so the last 20 years and the u. s. and asia were clearly in front of your but what we see recently with amazing fundraising rounds from germany, but also from europe. the time is over, the capital is pouring into europe. europe is going to be the winner of the next 20 years. and with insurance, we have one of the biggest areas to disrupt and we believe that the disruption globally will come from europe. and we have at the right point in time, we have the right talent, we have the right to skills,
and we now have the capital to really make an impact globally. do you think britain's exit from the europe in union might change any of that forecast? absolutely not. so britain, of course, has made a decision and that slows down essentially the development in the u. k. we, for example, off, have the difficulty off and not having the advantage of selling our insurance policies under a single european license. now also to britain, we will focus on further european countries in the u. u. first before going to britain. of course, britain is an interesting market for us as well, but it makes things a lot more difficult. capital is pouring into the u less so to britain, the u. k. has kind of temporarily lost its crown is the biggest share trading hub. do you think momentum will suggest that the money will follow?
i do think that that's going to be the case for us. we well finance at this point and we really focus essentially on how can we and disrupt insurance and take the customer experience that has made us successful in europe and globally . what we're going to invest our capital in is essentially further geographic expansion. 8th and be we are going to offer not only a pnc insurance property casualty, we are today in motor house or, and liability insurance. we're also going to offer and life insurance and health insurance and create a single policy, a single coverage for all of our customers. and the 3rd piece i think is most important. it's really innovation of the core of insurance. and so we're going to invest into turning insurance from what it is today, a pretty boring product that we today made a little bit better by digitizing everything and making everything real time. but
it's still insurance. it's still a boring product. and what we're turning insurance into essentially is a pro active product that is going to help you prevent bad things from happening. and this is possible through the rise of i o t data. and we want to do that, but that's, you know, that's quite number's just target. absolutely. our target is current. 30 percent of all risks happening from our customers. if you look at the history of insurance and you see the same development and commercial insurance. so in factories, for example, ensure us have already taken a lot of preventive measures in the last decades and the same development now through the i o t data revolution. and by 2025, every human on earth is going to own around 15 devices that are connected to the internet. and this prevention will also come to personal lines insurance. so we
have a i team and that's working on what we call. we focus prevent, and that works on increasing your awareness about your general, but also your immediate risk so that you have an increased awareness about your risk situation and you reduce your risk and this is a win win situation. insurance is going to become cheaper because of reduced risk. customers are going to be happier. they're going to live longer, and they're going to live healthier. and insurance is going to become more profitable. it's a win win situation for customer and the sure us and we want to be spearheading that development where we fucks the only thing you left out there is we will all live happily ever after. thank you for that positive outlook. let's hope it comes through. thanks so much for your time. thank you very much. and finally, here's something we can all aspire through. supercars or hyper cars. but these
manufacturers recognize they need to change as the world moves towards reducing emissions. a little known creation electric hyper car start up re mike will take control of one of the world's most storage brands. volkswagens begati remark began life in a garage in 2009. it is growing to become one of the industries leading technology providers. its electric and battery systems can be found in aston, martin and jango cars. it's upcoming remax navarro is expected to be the fast this car ever built. a title previously held by the got to sharon. well my next guest is the chief executive of lam beginning, which is owned, of course, by volkswagen. stefan binkle man joins us now from santa got about a navy in italy. good to have you with us. so you are launching what's being described as the last of and todd or is that an acknowledgement that the world is changing that the future is for electric pallet cars. first of all,
we are celebrating allow them to lower because it's the last of our kind. we will have $600.00 units, only $250.00 groups and $250.00 rhodes are and then there will be a phase of hybridization and $23.24 for the entire lineup of won't be la maurine. so 1st, the event of the fall, what would be hybridize will be plug in hybrid, but it will mundane our famous v 12 engine. so there will be a new engine also in the hybridize chart. and that's the problem is we are making to our customers, is that the new generation of cars is always to be better than the one before. and especially when we speak about performance, this is a math. will they still found us good? yes, they would sound very good because they will keep our famous engine, as i said, with the v 12. that will be this incredible sound and also the feeling of
a real lumber i. so it sounds like you're saying, when you, you keep saying, i'm going to keep the v 12 that there's going to continue then to be a niche market for the petro purists like me. right? we're not a dying breed then. now because we are putting 2 things together because at the end of this hybridization phase, so when we launch the also the car at the end of $24.00, we will cut the c o 2 emissions by at least 50 percent. and this is quite something and then you generations, they want performance one enzyme, but they also demand for sustainability. and i think that this is a good step that we have the words match together. and we will ask guys which are still fulfilling the dreams of their customers. as you probably know, it must tesla is introducing more and more autonomous features. is this something that hyper concept because are going to have to go down that road as well? right, as 3 mega range. no, there is
a electrification there. digitalization and then there's one on the driving. the 1st 2 are already on our table and they are very important for us in the future. if it comes to donald was driving it if it helps. and the traffic if it helps for active and passive safety. but we will always have a steering wheel. and we will have always feature that you can shut off those helps because it's important when you step into a lumber. again, if you sit in a lot more, you need to do it because you want to enjoy the drive. but the situation where it may be this in the future is going to be boring and dropped it. so we will have a level of i don't know me. all of them was driving, which is not influencing the joy and the fun of driving a car like this. so how will lam beginning evolve then given what you said in the future, how will you retain some of your, your key ingredients, especially as restrictions green measures become tighter and tighter. uncommon factors may, as i said,
the 1st step is now hybridization. we are going to have a 1st full electric vehicle in the 2nd half of this decade. we think about 2027, which will be the 4th model of lumber gaining. we will continue to look into what is feasible with the combustion engines to look if synthetic fuel can be on or off the 2030. but the new line up, which is going to be launch in 23 and 24th, is going to fulfill the regulations and did the end of this decade. and then as i said in the 2nd part of this, they can, we are launching of 1st of all electric, or do you think your brand will be independent within the v w stable going forward? but inside the, the folks one group, every brand has its own positioning, and the value of number getting grows immensely in the last decade. and i think that the business is very good. we have an order bank of 10 months
of production covered with customer orders. so also the outlook for this year and the beginning of next year is a very positive one. we investing the highest amount ever invested in the future of this company. it's 1500000 euro until the end of 2024th. and then we are looking into electrification and i think that this is a good match for the folks law group because we are covering for the old, the segments with the brands we have in the, in the group. i'm sure many young boys out, they'll be happy to hear that lum beginning will be around in the coming green the decade to thanks very much, stephan binkle. man, you're welcome. thank you. and that's our show for you. this week is more for you online at al jazeera dot com slash ptc. that'll take you straight to the page, which i've been tiring for you to catch up on time. time is
a dance from the counting the cost in here. thanks for joining us. use an algebra, ah, when a war crime is committed, is it come to the, how does it follows that garzon human rights investigator on his unprecedented journey to the french high court? i says, every place to make sure that that ought to bring its context, taking on the arms trade in his fight for justice, for innocence, palestinians and their families made in france on all disease and unconventional capital city. ever changing and yet forever defined by its turbulent tossed, stephanie deck meets the linen and takes you want
a journey. exploring the identity and legacy of europe's rebel capital took out his era. what's most important to me is talking to people, understanding what they're going through here as we believe everyone has a story we're hearing. ah, this is al jazeera ah lou. i'm fully back to bo, this is a news our life my world headquarters in coming up in the next 60 minutes. the owner of a factory in bangladesh is held on medic charges after $52.00 people die in a fire. hey, t appeals to the un and us to send troops to secure the country after the president . the fascination at washington says it will.