Sir, this is al jazeera, these are the top stories in britain will get its a new, a Prime Minister on choose day. Las trust has been chosen as a new leader of the really conservative party model place for us johnson. Shes promising Decisive Action to tackle the cost of living crisis. Gas prices have rocketed across europe. Has russia warned it will not reopen the north stream one pipeline until sanctions are lifted. Russian gas, giant gas prom announced an indefinite shutdown. So i to get technical fault. Israeli military is admitted for the 1st time that al jazeera journalist during regular was likely to have been killed by israeli gunfire. But said it will not pursue any criminal charges. Israeli army says theres a high possibility. The sri was accidentally hit by its trip to were responding to fire from palestinian gunmen. One palestinian has died during a raid and the occupied westbank. Soldiers surrounded a house in jeanine, which they plant demolish. The property belongs to a 20 year old palestinian, whos accused of killing 3 israelis and tel aviv in april, typhoon in m, nor has hit resign and southboro. Im moving on to japan, south rears now assessing damage. Flights have been cancelled and schools and bus and businesses closed right as more from boucher the section of coastline around booth than if the port city, the 2nd biggest city in south korea you see seems like theres a clean up operation, assessing the damage from this devastating storm this all happened. The hours of darkness monday into tuesday. Now the actual typhoon made land fall west of here. And the way that these typhoons work with their swirling winds around the center. It means that we being east of where they made land, pull it at this part of the coastline. Got all of these as well. Winds weapon gain from the output ocean combined with a, a storm surge and also a high tide. And then this is the resulting damage that you see all around here. At least 65 people have been killed in an earthquake and chime as at southwest the magnitude 6. 8 quit struck in the eluding area of fish one. Yesterday with headlines more coming up, potter counting, the cost from young idea the revolutionary thing from political activism to incarceration. In part one of the 2 part documentary c o g. As you explore the single minded june the 1st leader of an independent bosnia herzegovina. As that bag from prisoner to president honor. Josie ah, i hello, im molly inside. This is counting the cost and al jazeera this week. Unprecedented flooding in pakistan has left more than 1100 people dead, and has displaced millions. The government estimates damages of at least 10000000000. 00 a blow to the already struggling economy. The race for the arctic Global Warming is causing ice sheets to shrink opening up new shipping lanes and access to vast Energy Resources that has increased geopolitical tensions as well. Power tried to tap into the regions economic potential. Also this week, Microsoft Partners with catalog to launch a global data center, the fust in the region to develop digital capabilities and support innovation across industries. Stay with us as we look at the world of business and economics. Ah, we begin in pakistan. The most devastating flooding and decades has left one 3rd of the country underwater and affected at least 33000000 people. Entire villages all submerged roads, bridges and Railway Lines happen washed away, and farm lands, hop and destroyed, displays pakistani need food and water on the threat of water born diseases is growing. Well, the government says it could take up to 10 years for pakistan to rebuild. And repair its infrastructure. The planning minister says preliminary assessments suggest losses of at least 10000000000. 00 at a time when the economy is already struggling. More than 80000000 hexes of crops happen destroyed. Agriculture is the biggest sector and contributes about 23 percent to pakistans g. D. P. Rivers have bus that, banks and dams have overflowed, damaging more than 3400 kilometers of road Railway Tracks and bridges. As well as home schools and clinics. They was robbing his this report, village and fin province. One of the hardest hit regions. Oh, this is the face of hunger in sin. To describe what is happening here as desperation. Trivializes the extent of the suffering we spoke to 1st on as she was headed into the fray. She says she had no choice. I read it again. Then would you go now . Houses have fallen down. Dont have tickets. We count, shade our children from the sun. Our houses have been submerged. I swear to god, there is nothing left on our belongings have been washed away, but we poor our children are sick. They had just sitting there Senior Army Officers leading this relief operation. Tell us their orders are use a light touch, help every one. But making sure the weakest in the crowd, women, children, the sick and elderly dont get pushed to the back of the law. The other often requires force that the armies arrived at this village with much needed humanitarian supplies. Food mostly. And theres been a scramble at the supply truck because people here know that there is not enough for everyone, but they are still the lucky ones here across the way where the road has been completely washed away. Or people cut off from other villages. And they are just hoping that someone is able to swim some supplies over to them. Who is the most deserving. Who should go 1st . Seems to be an impossible decision. I know we, but it cant be bought. I mean, there is no reason to worry. God willing, a room, well get something. Okay, but calmly wait your toe, and every one will get help. Reassurances bring peace, but only briefly about as the trucks begin to empty. Panic returns and people jumped the queue once again. Flood survivors say not to do so is to choose death. I mean, if they dont get food, well get it done and die. What else can you do . I dont have any bread. I dont have any water. All the children are starving. Bringing order to the chaos caused by floods is an unenviable task. And one that is only just begun to take a more in depth look at the consequences of the floods on the pockets dani economy. Im joined now from islam abroad by im a hobby khan who is the group chief risk officer at conduct pox don financial services. Thank you for your time, sir. Pockets on planning minutes. A said this week that early estimates put the damage from the floods at more than 10000000000. 00. If that estimate is correct, how devastating a blow is that for its economy. So it is a fairly early estimate. We expect something around 20. 00 to 25000000. 00 to be the total economic cost. Once the water receipts the dust settles and we can really see what really happened right now, whats happening is because the rules and the infrastructure is on a broken knox track, saw send them to stop, which are the hardest ones that are under water. Its not even possible to take relief, butcher, the hardest areas. So it will take time before we truly understand the gravity of the situation and the economic costs. If we have to assign a number toward, i would say needs to be at least 20000000000. 00. If not more so double that estimate. We know the agriculture makes up 23 percent of the countries g. D p. More than 80000000 hectares has already been destroyed. Of onions, tomatoes, rise, other crops. What kind of impact is not likely to have that is going to a fairly massive impact on economy growth, as well as one of the inflation and more importantly, food security. Now whats happening here is the range crux sand, which basically wasnt growing at this point in time. Right. And gotten now, right. We are a major export of right. So whats going to happen is we wont be able to export right . There will actually be a shortage arrives in the country so that would lead to increasing probably right. Similarly, a lot of condiments and budget tables fail also been just trying, including announce tomatoes, which are essentially staple goods that higher prices for them, prizes for to meet or the onions have increased by more than 100 percent or the last few days. Because the infrastructure is broke in the supply chains are broken, its not possible to take, it was from one point of the country to another. Thats where the government is really focusing on in opening create with india, so that we can import these essentially the stables. Let me pick you up on that that point about importing because pocket stones economy was already struggling with a huge current account deficit, high inflation because of over reliance on imports. And now as you say with so much of the food destroy, theyre going to have to import more. This couldnt have come at a worse time. Could it for the countries finances . That is correct. This is possibly the worst time. The major will actually happened on the day when im, if program got through. So were looking at additional deficit of around 5. 00 to 6000000000. 00 in addition to the deaf in the back or there earlier. Because i said earlier, we wont be exporting a lot either. Thats right. But we will have to import additional food as really so the balance of payments is going to be literally only a few hours. But we have the finance minister coming live one period that be me, go to the i am, if a game for another, and we didnt the facility so that we can base the search required for importing food. The i m f has agreed to give pockets done as you say, this lifeline of about just over a 1000000000. 00 if they had to receive this trauma. If money was there were a real concern that the country might even default. No, it wouldnt have a different because for a default to happen, you need to lead to not be able to pay money or pay back the bond or excel or the bias on a house sufficient fund or place itself to ensure that it is able to pay off extra credit does, but that would have meant massive was 30. 00 and part time which would and significantly higher prices of food and Everything Else and even rationing. We talked about the short term need. Things like food shelter, but they are, of course, the long term needs. Once the floods go away, the rebuilding infrastructure. I mean, what kind of costs are we talking about . Were looking at massive cost. Sure. Just a rough estimate. Were looking at at least 3000000000. 00 for just revamping the wrong network and building all the bridges been discharged. 4000000. 00 off public capital, public money that needs to be re invested to go back to a basic. Similarly, about a 1000000 a house has have been destroyed fully or partially of that. Those roughly 700000 houses arent similar. So we estimated roughly 6. 00 to 7000000000. 00 of just reconstruction costs. That would be from private gap or not. These are people who are already fairly below the forwarding language them and they have seen the line. They have seen the crop for the year completely gone to really so there is a severe capital crisis as well as a private capital does not exist, really rebuild. And thats where the government is also going to step in android. Some kind of a facility to enable or support rebuild involve houses. Infrastructure focused on suffered from similar, devastating floods back in 2010. What any Lessons Learned from that disaster leave. Know that since were not from that disaster, we are still building houses. They are still building somewhere, so stablish minutes on riverbank were still building were doing construction in our growing robin. So there is a severe i would say lack of compliance with building board but in structure guidelines. But youre actually still such a law says run flat. Really, really interesting to talk to her be con group chief risk officer, condos pocket on financial services. Thank you. You the, now we go to the north pole, a country border, the arctic circle, and many that territorial was, is an exclusive Economic Zones overlap. Its harsh climate has been a natural barrier. What would the effects of Climate Change warmer temperatures have made the region more accessible, and that is opening up a new front line in the battle for Natural Resources and maritime trade routes. Estimates varied, but about 15 percent of the wealth, untapped crude oil and fed. If its undiscovered gas is hidden below the surface, and as i sheets melts, theyre presenting opportunities for Energy Companies to explore oil and gas reserves west trillions of dollars. The arctic is a major source of Mineral Deposits vital to developments in science and technology. Read elements the used in smart phones and computer hard drives while Platinum Group metals like palladium have medical applications and i use in the manufacture of Electronics Like catalytic converters. Im the icy waters, a rich in plankton and fish stocks the ought to. Coastal states china and the you signed a tracy last year to prevent unregulated fishing in 2800000 square kilometers of international waters. It aims to ensure that future fisheries in the central arctic ocean will operate sustainably. The northernmost region of the planet is warming up 4 times faster than the rest of the world. And far more quickly than scientist had predicted. Reset shows nearly 60 percent of the polar ice cap has disappeared in the past 40 years. This is opening up the Northwest Passage as a short cut for shipping between europe and asia. Joining me now from the city of rome, sir, in no way is mobs. Christopher dixon, marked as the executive director at the arctic economic council, which is an independent organization which represents industries in the arctic region. Thank you for joining us, mabes. Now the arctic is quite different from other parts of the world. Many people might not be familiar with it. Can you tell us about economy . What does it involve . Traditionally, there are 2 region has been play for tourist shipping for many years and, and fishing, but, but its also, its changing, its changing a lot these years. We have birth school farming, Satellite Companies are looking north by innovation, but overall you can say the arctic region is the region of opportunities for many, many countries in the world are struggling with the energy needs at the moment. So how have the Global Demand for Energy Resources impacted your economy . People that definitely looking north for many reasons, but also for energy reasons. Traditionally, we had the, i mean, this weekend has been and 11 way or another Energy Export or from any years. But in, in the past 50 years, its mainly been oil and gas and youll have it in alaska, youll have it in no way. And of course, also russia, russia is heavily dependent on, on, on the oil and gas being to do. And l n g being produced in the arctic region. But let me say it is also else i thought the Energy Sources else have renewable in net g like thermal in iceland, women, finland hydro and norway and even solar panels in small communities. But energy is, stephanie, is a big employer in the region, and its, it has a big Economic Impact for the communities there. You mentioned russia, russia, the rich resources youre talking about have drawn rival countries like the u. S. Russia and china to compete for Strategic Influence in the arctic. Is this a good thing or a bad thing for the optics local economy . I mean more attention is always good for small region, so we are massive region when it comes to land mass, but were just for 1000000 people. So the reason has so many of in a post a bar for Climate Change until political challenges and, and now we also start seeing it isnt coming up, but unities as i mentioned, light energy and fish, and is also home to many people. So people will like and best many people will like investments and infrastructure. And the attention that we see from countries like india, china, japan, etc. Thats a positive interest. 60 percent of the polar ice cap has disappeared in the past 40 years, which has opened up things like the Northwest Passage, which is this short cut 1st shipping between europe and asia. How beneficial is that going to be . I mean, the people, those of us living in dock, so were really the 1st to see and experience the problem of Climate Change. A recent report for some years back showed the Global Warming happens of 3 times the speed and the arctic. And now most recent news is even full times and someplace its even 7 times the global average. It had some opportunities in it, but also a lot of challenges that challenges are like permafrost, routing infrastructures, new with hurting drones for indigenous communities. But some of the opportunities is, as you mentioned, new shipping routes or new fishing areas. So what we have to be aware is we have to find the balance between, you know, responsible and sustainable development. And we also have to remember that the global melting of place here in the north also affects the rest of the world. It does indeed, sir, what can be done to stop this damage and what is being done about it . A lot is being done. I think the most important thing is we dont stop punishing the people in the arctic, those foreman and people are not admitting all the seo tool that causes this Climate Change. But we definitely feel the impact. Looking at the positives, i think we should look at Like Development to hydrogen. So through dr. Region companies are investing in hydrogen because we have a lot of renewable energy. You can also see Companies Investing in battery production for electric vehicles. So we have to start looking a new technologies, we have to do some kind of energy translation. And also we also have to look at crime and mitigation for those communities affect the, the climate chink, how is the arctic going to be able to help with the man for food . Im very glad you bring this up because i really think this is a perfect opportunity for the arctic today. Only 7 percent of the worlds protein intake comes from sea food. And we in the arctic region. I mean, we are, we are a big land mass surrounded by water and we have a lot of fish to feed the world. So we, but we have to look at, its not only about