Transcripts For ALJAZ NEWS LIVE - 30 20240713 : comparemela.

ALJAZ NEWS LIVE - 30 July 13, 2024

News of the collapse in oil prices will take you now live to hong kong for the latest. On the corona virus is spreading rapidly inside some of the worlds most congested jails in the philippines. As coronavirus cases in the United States increase President Trump says hes now planning to suspend all immigration in a tweet he said it was necessary to stop the outbreak and protect american jobs trump previously suspended travel from europe china and other nations john hendren has more now from chicago and why trump may have announced the plan the way he did. The president issued this tweet in the dark of night and he seemed to do that for good reason he could have made his announcement at his daily News Conference where he talks about the coronavirus and all of the actions the administration is taking but by issuing this mysterious tweet late on a monday night he gets the morning news cycles where the newspapers d in the morning shows talking about what hes had to say and then in the afternoon he gets another round where he explains what his policy is and then it gets to gestate and analyzed again and the president wants to show that hes doing something the centers for Disease Control just a month ago in a little known action. Issued an order that allowed the United States to stop people at the border who didnt have the proper papers and because of a Health Problem in the country because of the pandemic that order allows them to send people back similarily no Court Hearing no chance for asylum theyre sent back automatically and now the president is expanding that to include any immigration from anywhere. Now for the 1st time in history u. S. Oil prices have crossed below 0 into negative territory theyve just rebounded in asian markets to around 2. 00 a barrel a drastic reduction in Global Demand because of the pandemic and lock down measures means the world now has more crude oil than it can store and gallica reports. At the beginning of 2020 a barrel of u. S. Crude oil cost around 60. 00 then came the coronavirus pandemic forcing states toward a lockdown emptying streets closing businesses and shuttering factories across the nation demand dried up and the price fell to 18. 00 on monday things took a catastrophic turn for the 1st time in history u. S. Oil went into negative territory a doomsday scenario for the entire industry President Trump called the drop interesting despite the crash hitting the stock market were filling up our National Petroleum reserves through dziedzic you know the Strategic Reserves and were looking to put as much as 75000000. 00 barrels into the reserves themselves that would top it out that would be the 1st time in a long time its been tapped out would get it for the right price capacity though both online and see in the United States is filling up since march stockpiles in some locations have risen by 50 percent in some places the price of fuel is now at a 10 year low demand is down to 0 certainty when states will reopen and all this comes as a severe blow to President Donald Trump is going to Great Lengths to protect the oil sector working with both russia and opec to reduce production now the entire Global Industry is an unknown president in crisis the Historic Deal to slash production by millions of barrels a day involved saudi arabia russia and other Oil Producing nations but experts say another global effort is needed were probably. Down a 1000000 for a normal 10000000 barrels down to about 9 that probably needs to come down some more but all the other Oil Producing countries need to do the same until the the economy recovers the plunging price is a driven by trading deadlines oil is traded on its future price contracts are due to expire on tuesday why is it virtually nonexistent some traders are now paying to get rid of oil instead of buying it the president says the industry will bounce back they got caught and there are a lot of people that are not too happy because they got caught so if you take a look at it youll see its more of a financial thing than an Oil Situation but because you take i believe in a month or so and go a little bit out its a 25. 00 and 28. 00 or so its largely a financial squeeze. If there is a Silver Lining those on the frontlines of the coronavirus will pay less to fuel because a recovery in demand for oil is now dependent on a crisis that in many parts of the u. S. Is far from over and to go across jazeera Miami Florida asama been just saying it has more from doha on the impact the Oil Price Drop may have in the middle east. It has a number of repercussions for the gulf economies are predominantly for leaders to to saudi arabia which have been trying to control the way the markets have been acting to the amount of oil that it has been getting in the last few weeks youve seen saudi arabia going from the Production Cut to the block to a cut again and now you see that this massive drop in we are at a point in oil prices which wasnt seen in the last time before the likes of it was in 1946 that was right after the 2nd one war is going to have an impact on economies such as bahrain and oman which do not have the kind of deep sovereign wealth funds that other countries have but is going to have an impact on opec 2nd largest producer of such as iraq which has been struggling to pay salaries for its employees and these are state employees which have not been paid in full it is going to have an impact on the soldiers on the front lines that iraq is going to have to find money not just to continue its fight against isis but also to continue its fight against the crew in a virus pandemic you have to remember that iraq is already asking for donors to chip in to help it meet this crisis so it is going to have impact which is going to be far and wide in terms of economics but it also going to have an impact on the political economy of saudi arabia weve just seen as a regional leader because of its currency that it has and not just with america and the russians but also in terms of how it dominates the region. For the big drop in the price of oil and of course the coronavirus pandemic is continuing to Impact Global markets difficult bolland joins us live now from Hong Kong Davis so just talk us through how asian markets are responding to these collapse in prices. Derren asian markets despite the slight increase in oil prices the slight recovery and the rebound in oil futures which indicates the direction of oil prices asian markets are still taking no comfort from any of that basically theyre listening to the wider message here and that is that the u. S. Is good to have an uphill recovery in its uphill battle rather in its economic recovery and that of course will impact on the Global Economy and were feeling the ripple effects here across markets in asia so almost all major markets are down japans nikkei down about 2 percent hong kongs hang seng index that about 2 and a half percent chinas markets though not so much of a drop around 11. 00 and a half percent for the shanghai composite index now thats an alist say thats mainly due to the fact that china is trying to take advantage of the Oil Price Drops at this moment china is one of the biggest worlds consumers of oil the biggest importer of oil and so theyre snapping up bargains here theyre in many trees set though they have no official figures its estimated to be doubling as they prepare for their own economic recovery from coronavirus and all the lock downs weve seen and did the away from the turmoil in the markets hong kong has extended its lock down williston for a further 2 weeks how is that being received. Thats right that is it has been widely expected those lockdowns were expected to end or the social distancing measures were due to end in a couple of days but today the chief executive announced that for another 2 weeks people will have to continue social distancing their restrictions no more than 4 people gathering in one place restaurants though can extend their capacity a little bit while maintaining distances between tables at detainment venue Leisure Centers will still remain close and the Hong Kong Government is bulking up its defenses against people arriving in from abroad to increasing their testing and their core and seen now hong kong that had 0 infections new infections yesterday the government is warning people to remain cautious we have been here before earlier in march hong kong had 0 new infections for several days but then was hit by a 2nd wave asked people drop down their guard so the government says people still need to remain cautious or at a difficult part of the in hong kong didnt thank you but some European Countries have started taking their 1st steps to ease virus lock downs in norway children have been allowed to nurseries Small Businesses have reopened in denmark but as more countries begin to relax their restrictions the World Health Organization is warning against complacency the bulk of the polls. Morning one of their own medical staff at a hospital in madrid. The chief of surgery can track to the virus whilst treating patients. After the silence of. These medics is spains best hope in the battle to save lives a fight the country believes its slowly starting to win thank you arriving in the capital 2000000 protective masks purchased from china by the Spanish Government theyll be shared across the country helping parts of spains economy to reopen. Builders are back at work some heavy industries operating again. These are carefully controlled steps spains infection rate is now stable but the number of people diagnosed with the virus passed 200000 dog monday 2nd only to the u. S. The World Health Organization urged countries to act fast on limiting the spread of the virus. Without National Unity and Global Solidarity classed as the worst is yet ahead of us lets prevent this tragedy its a virus that many people still dont understand. The slowdown in deaths in spain and italy has returned some optimism to europes Financial Markets share prices edged higher on monday from their lowest since the 2008. But businesses are bracing for a lengthy global downturn. In russia the crisis is deepening with a lockdown entering its 4th week chairing a video meeting with the regional officials president putin when the worst is still to come. If. The peak incidents is still ahead and now we need to do everything to flatten this pete. The french government says its making progress restrictions remain in place until at least may the 11th but there were social consequences to frances Strict Lockdown rules over the Weekend Police in new this clashed in paris his poor suburbs mediators have been sent in to soothe tensions. The u. K. s lockdown remains in place with the government saying its waiting for the right data before easing restrictions the country hopes to start Clinical Trials for a vaccine next week. As countries consider their options here in portugal a reminder of how virulent coronavirus is a total of 138. 00 refugees out of 175. 00 house at a hostel in lisbon tested positive there are concerns about infection spreading quickly in other hostels where social distancing is difficult. Europes shuttered societies on very different parts relaxing things too soon too fast could risk a 2nd spike in cases governments are struggling to balance the health of their economies with the health of the people need aljazeera. Time for a short break here and aljazeera when we come back australias 2nd Largest Domestic Airline has controlled the administrator as it struggles from the effects of the pandemic. Frustrations of a coronavirus lockdowns in the u. S. Plan to the streets many people are demanding an end to the restrictions and i return to work more on that stay with us. The skies over the raven peninsula are still pretty full of clouds and thats an extension of whats happening in kenya up 30. 00 pm which is the rains coming northwards and theyve been so significant rain recently causing flooding in yemen that could be a few more showers have to clean the west obviously the something around riyadh moving towards bahrain and qatar this is during choosing eventually or moves across into iran as a few showers leaving things quieter but not absolutely quiet behind but the only times are iraq in the event its been warming up its been generally quiet now admittedly the blue here in turkey thats fairly active Sherry Weather but its not really coming south i dont think enjoy the sunshine running down for the same class it is produced flooding recently in kenya and interesting it is quite a lot of forecast rain in somalia including in the capital mogadishu this is been proven to produce flash flooding and this time of year it may well do so again it is the way it is time of year more or less now in the next month or 6 weeks. Which means theres not much rain for the south much of Southern Africa is dry this time of the year cape towns no exception is not much cloud there and the forecast next 3 days is pretty steady fine weather for all. Hong counting the costs the great lock down africa to sink into its 1st recession in 25 years on its Health Service pack the strain of the pandemic and historic Production Cuts but what does it mean for the gulf Economy Class europes colognes counting the costs on aljazeera. Unprompted and uninterrupted discussions. From our london broadcast center. On aljazeera. Welcome back a quick reminder the top stories here on aljazeera President Trump says he will sign an executive order to temporarily suspend immigration into the u. S. He says its to protect american jobs after the virus pandemic attorneys 22000000 find for Unemployment Benefits. For the 1st time in history u. S. Oil prices of crash below 0 as producers ran out of space to store their output early trading in asian stock markets to see that rise slightly to 2. 00 a barrel lockdowns in response to the virus and then i produced a global slump and demand for oil an excess supply in the markets. The World Health Organization is warning against complacency in some European Countries ease restrictions nest rules in norway have reopened and Small Businesses are trading again in some parts of germany and denmark. The pandemic has forced australias 2nd largest domestic carrier into voluntary administration after the government refused to bail it out the day to day running of Virgin Australia is to be placed in control of another company wanted assets are assessed the airline had asked for an 800000000. 00 emergency loan off the travel restrictions left more than 3000000000. 00 in debt virgin has stood down most of its workforce with nicola gage joins us live now from sydney nicholas so how significant then is the collapse of the gin australia and why did the government refused to help the company. Well airlines around the world are under huge pressure right now so this will come as no surprise to anyone whos been watching this play out virgina strongly i is billions of dollars in debt and most of its fleet has been grounded to chico if it 19. 00 and 4. 00 weeks it has been urging the government here to help with hundreds of millions of dollars in laurens to try and get it through these crisis but that has been rejected. By the government on several occasions it says that its not willing to buy a lousy company which is largely for an orange by large shareholders with big pockets so it would be a huge blow to a strike if Virgin Australia did collapse and nearly 10000 workers are employed another 6000 on top of them directly indirectly work for Virgin Australia and this comes at a time when unemployment is rising because of coronavirus this is not something that the government wants to see happening there are already concerns from consumer groups on politicians that unless virgin is resurrected quantas will have a near monopoly in australia thats clearly bad news for passengers isnt it thats exactly right the biggest concern here other than the huge job losses would be competition being lost in the strangely an Aviation Industry if there is a monopoly of oil in the quantas what would that lead to there are concerns that they could be priced rises or the cancellation of some flight routes the government has been very clear that we do need at least 2 Major Airlines in these countries so its up to the administrators to make sure that Virgin Australia can keep on operating into the future the company has been quite optimistic today saying that there has been a lot of private investment interest in the c

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