if you have just joined if you havejustjoined us, good to have you with us. we begin with the soaring cost of energy. as governments and central banks grapple with rising inflation and a cost of living crisis, the world s biggest oil company announces record breaking profits. the saudi oil company aramco revealed it made more than $48 billion in profits in the second quarter of this year. the eye watering sum marks a 90% year on year increase and the biggestjump in earnings for the world s largest energy exporter since its public listing three years ago. but what is the outlook for oil prices this year and beyond? the war in ukraine caused a significant spike in the price of energy worldwide prices have come off the highs reached earlier this year and now with fears of recession on the horizon in europe and other key economies globally, there are differing views out there as to where the price of the oil is headed. let s talk this through with craig erlam senior market an
this country but this hasn t happened overnight, these gangs haven t become so powerful overnight. explain how this country has got to the stage. has got to the stage. well, haiti has got to the stage. well, haiti has then plagued has got to the stage. well, haiti has then plagued by has got to the stage. well, haiti has then plagued by political - has then plagued by political instability for decades. the gangs go back to the time when the president in the 1990s. but what has really changed things, what is really changed things, what is really turbo charge the gang activity is the assassination of the sitting president here injuly of 2021. that is a crime for which nobody has yet been put on trial here. that created a huge power vacuum, gangs here have been competing to fill it and they operate with protection from political friends, operate with protection from politicalfriends, there operate with protection from political friends, there are operate with protection from politica
changes, that said they will have to clarify the stance is mr abe did in the past about japan s standpoint as far as energy is concerned because thatis energy is concerned because that is the acute problem we are getting from the russian aggression and for that reason i thinkjapan has to sustain and clarify that position, that is one thing the prime minister has to clarify before he goes on to another stage.- has to clarify before he goes on to another stage. thank you, we shall watch on to another stage. thank you, we shall watch with on to another stage. thank you, we shall watch with interest. - now, to the uneven pace of china s economic recovery. factories are busy with industrial output expanding by 3.8% injuly from a year earlier, but that is lower than the 4.6% estimate by analysts. and when it comes to what china s consumers are up to, well, retail sales grew by 2.7% which again is lower than expected.
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