WORLD AT A GLANCE

Brisbane besieged by floods

Although the week commenced with a lone gunman shooting US Congresswoman Gabrielle Giffords in Tucson, Arizona, USA, killing six and wounding several others, the attention of the international media shifted to the devastating floods which virtually submerged Queensland in Australia.

It was reported that in Brisbane, more than 26,000 homes and 5,000 businesses in 67 suburbs have been affected, while more than 150 roads remain closed. The main city remains in lockdown, with power and public transport still not in full operation.

Economists reported: "The damage bill from the Queensland floods could be one percent of Australia's Gross Domestic Product or more than A$10 billion due to lost export income. Westpac Bank says the floods could cut Australia's economic growth by as much as one percent in the March quarter offset by a recovery later in the year."

On her third visit to Queensland's flooded areas, Australian Prime Minister Julia Gillard ordered Australian defence forces to join the state's rescue efforts. It was reported that in the chaos that followed the devastation of the Lockyer valley, 90 people were listed as missing. By January 13, about 60 of them had yet to be found.

The Economist reported: "The floods' economic impact will be harsh. Some economists reckon they could cut Australia's growth this year by up to one percent. With Western Australia, Queensland has counted as one of Australia's two commodity-rich boom states, driving a so-called "two-speed economy". Last year, Queensland accounted for 62 percent of Australia's exports of black coal. Many mines have now been flooded, and railway lines ruined. Coal exports from Gladstone, the main port city, have plunged. Sugar cane and cotton, two other important commodities, have been badly hit. The cost of damage thus far has been estimated at A$5 billion (US $5 billion); others put it higher. Gillard has promised to appropriate whatever federal funds are needed to help restore Queensland's infrastructure. She also says she will not waver from her pre-flood pledge to return the federal budget to surplus by the 2012-13 fiscal year. Trying to fulfil both promises concurrently will pose a challenge Gillard could not have anticipated."

It is evident that full recovery may take perhaps years, due to damages of public and private properties, but it looks as the flood will be a regular problem to occur.

Siobhain Ryan quoting Stewart Franks, associate professor, environmental engineering at NSW's University of Newcastle, wrote in the The Australian newspaper on Friday: "The big wet may not be over for Queenslanders for another few decades, with the La Nina climate pattern tipped to be a repeat visitor."

Brazil - floods claim over 370 lives

Floods and mud slides occured in many parts of the world. Among the worst affected countries were Australia, Sri Lanka and Brazil. More than 370 people have now been killed by flooding and mudslides in south-eastern Brazil. The mountainous towns of Nova Friburgo and Teresopolis have been the worst affected areas in Brazil with, at least, 150 deaths and thousands rendered homeless.

President Dilma Rousseff toured the devastated areas in Nova Friburgo. She was accompanied by politicians and later left for Rio, where she was expected to give a news conference.

Riots in Tunisia

One of the major events that dominated the international arena last week was the riots in Tunisia. At least 23 people have died since nationwide protests over poverty and corruption began last month.

It was reported that the security forces had fired live bullets and tear gas in the centre of the Tunisian capital, Tunis. At least one person is reported to have been killed and a large area of the city centre closed off by police and the military. Although the government imposed a night-time curfew, it did little to put an end to the spontaneous outbreak of riots, particularly by unemployed youth who see no future prospects for them.

The Economists reported: "In an attempt to crack down on the demonstrations, schools and universities have been temporarily closed. But that may simply free young people, who form the bulk of the protesters, to take to the streets. For the first time since he became president, the portraits of Mr Ben Ali that adorn many buildings have been ripped and burned, while anger mounts against him and his wife's family, whom many Tunisians believe have amassed a large fortune through corruption."

What is clear from the continuous unemployment riots is that the failure on the part of the government to create employment opportunities for the youth would lead to unrest and socio-political instability. The police and the armed forces will not be an answer to the grievances of thousands who do not see any prospect, for them.