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before those strikes took place, the boss of maersk, one of the world s biggest shipping companies, spoke to the bbc to warn of significant disruption to global supply chains because of the houthi attacks. maersk, like other shipping operators, is re routing its vessels away from the red sea and suez canal. instead they are taking the long way round , from asia to europe, and around the cape of good hope. that s an extra 3500 nautical miles, or up to two week s sailing, adding as much as $1 million per ship, in fuel alone. maersk ceo vincent clark told the bbc that these extra costs are already being passed onto consumers. this assessment of the most important oddities of global trade and to rewrote all of this cargo now south of the cape of good hope is going to create significant disruptions to the global supply chain for the duration in which we have to do that and probably a few months more as we have to get back then into normal. you need to see a stronger mobil ....
in a move that could push the country closer to default. the treasury department said it would end a waiver that had allowed us bondholders to accept payments. russia has almost $2 billion worth of payments on its international bonds that will be due up to the end of the year. joining me now is patrick reid, co founder of the adamis principle. i guess the place to start with this is how close it will bring russia to default in common what would happen if it does? thank you for having me on. it isjust another nail thank you for having me on. it is just another nail in the russian economy, and we cannot underestimate the consequences and dangers of a default. it is not quite like 1998, but it is not quite like 1998, but it is not very good for russia long term. now, a ten year yield on a russian bond will get you about 10% right now. that is not enough. russia s central bank raised interest rates to 20%. they are now currently 1a. that is not going to be enough either. es ....
where they are, let s keep them high to show financial markets that we are serious about fighting inflation and wait until it comes down before we loosen. of course the criticism here is that, and the bank s own analysis shows that, that it takes 1.5 years for the full effect of interest rate increases to ripple through the economy, so we might well be in a situation where we have kept rates very high for quite a while and that is really pummelling the economy, we are getting low or even negative growth and inflation is even below target. so it s understandable why the bank of england is risk averse and wants to make sure inflation is squeezed out for sure, make sure inflation is squeezed out forsure, but make sure inflation is squeezed out for sure, but there is a real risk of them are leaving rates too high for too long. of them are leaving rates too high fortoo long- of them are leaving rates too high fortoo lonu. . ~ ,, . ., for too long. thank you so much for our for t ....
Is still room for growth, especially in africa. we see that contributes to the gdp compared to the global contribution of 2%.- compared to the global contribution of 2%. has afcon and not just contribution of 2%. has afcon and not just afcon contribution of 2%. has afcon and not just afcon but - contribution of 2%. has afcon and notjust afcon but african football seen a similarjourney as women s football at such high leagues? and what is it that has flipped things around that has flipped things around that people are finally paying attention and showing the money? attention and showing the mone ? ., , ., , attention and showing the mone ? . , ., , money? that is a very good question- money? that is a very good question- i money? that is a very good question. i think money? that is a very good question. i think it - money? that is a very good question. i think it is - money? that is a very good question. i think it isjust i money? that is a very good question. i think it isjust ....
Out ukraine, finding a way for putin, and they may say you should try this bit of territory in ukraine? should try this bit of territo in ukraine? . territory in ukraine? there are some, territory in ukraine? there are some. and territory in ukraine? there are some. and we territory in ukraine? there are some, and we hear territory in ukraine? there are some, and we hear that, - territory in ukraine? there are some, and we hear that, and l some, and we hear that, and there is always going to be like that. i there is always going to be like that- like that. i see that tend tell every politician like that. i see that tend tell every politician right - like that. i see that tend tell every politician right now - like that. i see that tend tell every politician right now it i every politician right now it is black every politician right now it is black and white and you have to decide is black and white and you have to decide. you other side of democracy, peace in ukraine, or th ....