killed. haslinda: it is taper time. as investors await jay powell's speech at the jackson hole symposium. rishaad: and australian retailer wesfarmers reporting bumper earnings. we will speak to their manager about the windfall for shareholders. haslinda: investors are waiting to see some kind of signal, wherein the tapering might happen. we have fed officials divided on when that should be. the msci asia pacific index is up, getting a lift from asia tech, currently up one point 3% and reversing the losses set for the best week. the bloomberg dollar index is steady. yields rising. the attacks in kabul prompting joe biden to say we will

hunt them down. investors perhaps waiting to see signals from the fed moving forward. rishaad: let's look at what is going on with the banks. the open for thai stocks. the currency having its longest weekly gain since november. looking like it is going to be flat at the start of the session. indian equities, in terms of their ranked returns, they are the best among emerging markets. year-on-year, looking at a 40 5% uplift in the past 12 months and 19% on the year to date basis as well. haslinda: for the markets, the biggest risk is still seen as emerging from jackson hole. traders are awaiting jay powell's speech at the symposium.

hawks are putting the taper well and truly on the agenda, with kansas city fed's esther george saying it could come this year. >> it is important to center on where we believe the progress in the economy is sufficient to start the process, and that is where i am focused. in that sense, i think we should get started this year so that we can begin to pair back the amount of accommodation, watch to see how the economy unfolds after that. rishaad: the dallas fed president also said he expects an announcement on taper in october. james bullard coming out for a start this year. carquest, executive director of -- kirk west is here. give us a sense of what you are making a what might come out of jackson hole, and really have

that plays into markets, and how much of this bond buying program is being at the moment priced in. >> good morning to you both, thank you very much for having me. i think what you are seeing in the governor's speech, the chairman's speech is looking for consensus and also optionality. i mean i don't think that three nonvoting members come out and start talking about tapering. i think that will be caught in the address and that is becoming the base case. what does it mean for markets? it might well find that the markets are disappointed if is not the outcome. from our perspective, we continue to be very much comfortable with a risk-on position.

rishaad: you can't have kiwi forever, or can you? the japanese perhaps could argue that you can't have quantitative easing forever, or can you? let's look at the asset bubble which has also come up as a consequence of not just cheap money, but the amount of liquidity in the system. is it right to be tapering, or should we be tapering later in your view? rishaad: i think all central banks are looking to take their foot off the pedal. he saw that in south korea yesterday, i thought it was a very credible response to increases in household debt and what it is doing to housing. i think that is the case for the federal reserve. they have hit their inflation objective and they are heading very quickly towards their

employment objective so now is the time to start taking the foot of. they have been incredibly accommodative. interest rates are still very, very low, in fact, they are negative. they will still be positive quantitative easing. this is tapering, not tightening. haslinda: the thing is, there will be divergence in terms of the policy being adopted around the world. the bok went ahead with the 25 basis point hike, but we also heard from the back of indonesia saying they are willing to cut rates if needed. how will this play out when you place -- where do you place your bets. kirk: i think those economies which are still struggling with the virus, they will continue to be cautious, and i think that is exactly the right approach. you are seeing that in australia and new zealand. when they took tightening of the

agenda in the last week or so, and clearly in the economy. what you are seeing is financial market are adapting to the virus. so it is not a question that will not taper for not treating interest rates, it is more a case of, they are starting to reopen their economies. haslinda: i am curious to see where your thinking is on this, because you seem to be overweight everything when it comes to stocks. u.s. is your favorite region. you like developed markets and you are overweight em's as well. kirk: we do feel it is an environment where you can lean into risk. that is where we think the long-term value is. you're absolutely right, we remain fully invested in developed markets, actually, slightly overweight u.s. but it is still our preferred developed

market. but recently we became overweight in emerging markets, more so in asia. we do see long-term value in asia. it is a market where the fundamentals in terms of earnings remains very strong. that is our outlook. from a technical perspective, it is actually under owned. you have seen outflows, particularly from china. from a valuation perspective, it has come back to fair value, in our mind. so from a long-term perspective, and we invest for people who are really with us for three to five years, we are very comfortable with equities. haslinda: hang tight, kirk is staying with us. we would be hearing from fed chair jerome powell plus a busy slate of fed president during bloomberg special coverage of jackson hole. now let's get the first word news with su keenan in new york.

su we will start with president biden, he has vowed to: hunt down those responsible for a series of explosions outside the kabul airport that killed 13 u.s. service members and at least 60 afghans. biden says the group known as isis-k was behind the assault. the top u.s. commander in the region says he is expecting more attacks if the u.s. continues its planned withdrawal of all american forces by august 31. >> for those who carried out this attack as well as anyone who wishes america harm, know this, we will not forgive. we will not forget. we will hunt you down. and make you pay. su: and china has issued its most detailed warning yet against the excessive work culture that pervades the country's largest corporations. a trio of government agencies published an essay highlighting

labor violations labeled 996, because of the common practice of working 9:00 a.m. to 9:00 p.m. six days a week. china's tech sector has come under fire for its excessive work practices. in the u.s. vice president kamala harris says she raised human rights concerns with vietnamese officials, including the issue of releasing imprisoned dissidents. however, when questioned, the vice president failed to mention any specific commitments made by hanoi, or explain how vietnam's human rights record is any different from that of china. president emmanuel macron has urged ireland to join a global deal on establishing a minimum corporation tax rate during his first official visit to the country. ireland's economic model has been built on lower rates to attract multinational firms, and

it has so far refused to sign the preliminary model struck in july which calls for a rate of 15%. ireland's corporate tax rate is currently 12.5%. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am su keenan. this is bloomberg. rishaad: we are approaching the start of the trading day in mumbai. -- 10% less than normal so far this year. how will that affect the harvest? haslinda: plus, guest is joining us from perth to discuss the latest earnings. this is bloomberg. ♪

>> the attacks we saw or just the beginning of a wave of attacks. >> the president relies on the advice of his military commanders, and they continue to believe that it is essential to get out by the 31st. that is their advice. >> by, that definition, we can still get out by the 31st if we were going to define our objective to, then of course, the 31st was going to be insufficient. >> there is no quick fix, and despite what president biden says, there is nothing the americans can do. rishaad: earlier guests on the attack in afghanistan. before we get to the reaction, breaking news out of malaysia, it is bringing back -- as the finance minister. and also the defense minister. these are the new appointments with the new cabinet in place.

we heard earlier from the prime minister saying that he has received the king's consent on the cabinet list, and that the cabinet will help revive the economy, support businesses, and will reopen the economy in phases. there you have it, the malaysian ringgit pretty much flat at this point in time. haslinda: we'll get reaction to the latest developments and bring in a researcher. thank you so much. tragedy of course. is this going to embolden jihadists around the world? >> i think it has already done that. the impact of the taliban on jihadists around the world has been one of the feeling of reliving the victory and vindication of the jihadist doctrine that a sharia state can

be created through militant jihadism. they are already quite jubilant, and that is going to increase. as the taliban will further tighten their grip on power in afghanistan. as far as the attacks are concerned, yes, they are horrendous, but not expected. warnings were already there. it was literally a soft target. it could have been done differently, but unfortunately, it happened, and precious lives have been lost. haslinda: abdul. rishaad: 20 billion dollars later, nearly two decades, and there is another player, which is china perhaps.

and we have perhaps pakistan, which is being sent by some as the victor in all of this. what do you make of that. abdul: for countries like china and pakistan, the u.s. withdrawal is an opportunity. at the same time, it is a huge challenge. last night attacks in kabul are a reminder. while the taliban might be on the right side of these two powers and of regional countries like iran and russia, at the same time you have groups like isis-k, the local franchise of the islamic state which is known for its audacious and bloodier tax in urban spaces -- bloodied attacks on urban spaces in the kenaston. it has gained in notoriety in the last two years. so while it is an opportunity for these two powers, at the same time it is a huge challenge in terms of stabilizing afghanistan. even if the taliban have the

willingness to go after these groups, and this group, particularly i.s. k, is their enemy. they have been against this group in two provinces. but at the same time, we have seen the limitations of taliban capability vis-a-vis isis-k. right now all they are doing is blaming it on the u.s., that they withdrawal is --. at the same time, it does expose their own weaknesses. i think in the coming days, the concern vis-a-vis taliban counterterrorism commitments are going to worry a lot of countries, including china and pakistan. rishaad: it is in everyone's interest to work together, to cooperate against isis-k. haslinda: the question is, how can that take place, what form will it take. abdul: i think the corporation

first and foremost would require intelligence corporation. you have an actionable intelligence on the group, its whereabouts, its organizational structure. and then over the horizon capabilities of the u.s. that they have been talking about in the last few weeks, what are they about? i know for a fact that the u.s. has moved its drone fleet closer to afghanistan in the region. what we are going to see is those drone attacks against isis-k based on intelligence, and the taliban might take some actions against the group on the afghan side. as of now, i can only imagine these two strategies working against isis-k. putting diplomatic on the pressure on the taliban to take

action. but as a result of that action, i think there will be more violent attacks and retaliation against the taliban in afghanistan. haslinda: abdul bassett, thank you so much. let's get to the market reaction and bring back kirk west, executive director of an investment group. how much of a risk is afghanistan to the markets? we saw u.s. stocks fall, but asia is looking pretty resilient. kirk: first, we have to recognize this tragedy. from a market perspective, i think it will be very contained. governments are looking inward at the moment, all dealing with their own issues following the pandemic and that is where financial markets will be looking. so, contained from a market

perspective. longer term i think it is quite interesting, because i think we will see a pivot back to coalition building from a u.s. perspective. that will be a positive for markets long-term. . but in the short-term, horrific, absolutely horrific headlines. i don't expect it will be anything more than noise. rishaad: at the moment, yes, we may be more sanguine about it in a couple of days and it may not be affecting financial markets then, but it may have a longer-term impact, as abdul before you were saying, if it emboldens terrorists around the world, these jihadism could pose more problems for the west. that is the issue here. kirk: yes, you are right. if anything, it has allowed that to emerge again. but as i said, i think you will see a more coalition approach to

that rather than a bilateral approach to some of these issues which you saw under the previous administration. i think that is actually a better approach. terrorism is not going to go away. it may become more of a headline issue in the period ahead, but he think it will become more of a coalition approach to managing it. haslinda: kirk west, principal global investors, thank you for that. stick with us, this is bloomberg. ♪

rishaad: 23 minutes past the top of the error. morning calls. sophie kamaruddin is here and we are heading to the jackson hole symposium. bank of america has been looking at this and what is there take?

-- what is their take? sophie: they are revising their view on bonds, inflation overshooting and slowing growth. we have 18 bugbears over a year, but now they have lowered their forecast for rates, now seeing a u.s. benchmark yield ending the year at 1.55 and 1.9 by the end of next year. haslinda: and for ems, what are the highlights? sophie: international, this researcher said, prepare for twin challenges in the em space, which has whom disagree with those who see that emerging markets are more resilient now. he is saying that sources of vulnerability make e.m. vulnerable to capital flight.

he is warning of the troubled turn, including brazil and indonesia and the philippines. economic fundamentals deteriorate, heightening the risk of financial crises. haslinda: sophie kamaruddin, thank you so much for that. let's look at where chinese markets are. asia tech shares have been surging for the past week since january. the cfi 200 index also higher, currently up 0.7%. chinext is flat at 3266. rishaad: let's have a look at what is going on with regulatory overhangs with regard to china. you can see some of the winners and losers. this is the msci china index, some companies have had the regulatory scrutiny focused on

them. education is up 75%. some of those companies are perhaps in the center of what you could describe perhaps as being some of the national champions that china is trying to engender at the top of that list. companies like china power international, and china resources. haslinda: let's recap the capital lineup for the new prime minister in place in malaysia, he has named his cabinet after getting approval from the king. banker -- one banker is remaining as the finance minister. mostafa mohammed is a veteran politician and he holds the economy minister. the trade minister also, will be

filled by the former deputy prime minister. we have a new cabinet for malaysia. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. (announcer) if you've struggled to lose weight, you might think you were born with a slow metabolism, but what you may have is insulin resistance. fat becomes trapped inside your body and it becomes very difficult to lose weight. now there's golo. golo works to reverse the effects

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>> for those who carried out this attack as well as anyone who wishes america harm, no this, we will not forgive -- know this, we will not forgive. we will not forget. we will hand you down to make you pay. >> we know that the window of time is closing and 80,000 people were brought to safety. but i would like to make it clear again today that we will not forget those who will not be brought to safety.

>> this shows the importance of continuing that work in as fast and efficient manner as possible in the hours that remain, and that is what were going to do. >> all of us are put in a situation which is no more --. nobody expected the rapid reversal of the situation in kabul. haslinda: the deadly explosion in afghanistan left 13 u.s. service members and at least 60 afghans dead. rishaad: let's look at the first word news headlines and get over to new york with su keenan. su: thank you. we will start with a british prime minister boris johnson. he has described a bomb attack at kabul airport as barbaric, but says that evacuation of the u.k. from afghanistan will continue. while extending his condolences for the american and afghan lives that were lost, he says

u.k. airlift will not be stopped. he declined to say exactly when the british effort would end. bloomberg has learned that white house advisers are considering recommending jerome powell for a second term as chair of the federal reserve, while considering lael brainard as the central bank's vice chair. brainard is also a contender for the top spot. president biden is not expected to weigh in until later in the year, but power maintains support inside the administration and also from treasury secretary janet yellen. french president emmanuel macron has urged ireland to join a global deal on establishing a minimum corporate tax rate during his first official visit to the country. ireland's economic model has been built on lower rates to attract multinational firms, and it has so far refused to sign

their preliminary accord struck in july. the agreement calls for a minimum rate of 15%, while ireland's corporate tax rate is currently 12.5%. . india has lifted a ban on boeing 's beleaguered 737 max just, leaving china as the last leading aviator market yet to permit the planes to resume flying. indian aviation officials say the decision came after there were no new negative reports on the jet. 17 other global regulators allowed flights to resume beginning last year. and staying with india, the country recorded more than 46,000 new covid-19 cases on thursday. that is the most for a single day in over a month. the southern state of kerala reported a surge in infections that could affect the state's economy, which had held steady in july as cases declined.

only 9% of the population in the country is fully vaccinated. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am su keenan. this is bloomberg. haslinda: let's do a check of currencies ahead of jackson hole. we have the dollar pretty steady but tepid movement in risk currencies, suggesting perhaps there may not be a lingering effect for the moment. the vix is inching higher, currently at 20. it is expected to move higher in the coming months. the msci asia pacific index. gains, currently inching into negative territory. but we have the hang seng up

zero point 3%, lifted by tech shares, china tech stocks countering the losses yesterday. taking a look, at some of the stocks we are tracking pfizer was just getting started as debt woes mount. currently up 3%. china e.v. start-up xpeng currently up 2.4%, rishaad. rishaad: let's have a look at india. we have monsoon rains, 10% less than normal this year. at the same time, some parts of the country have received access showers which in turn damaged crops. let's see the impact on food production and the harvest, with syrah the treasury -- siraj chaudhry. he works at a warehousing company. thank you for joining us.

what are you looking out at the end of the monsoon season in terms of which are the crops which will be most in deficit, as it work? siraj: morning. the 10% deficit number, what it hides, there are districts in areas that are had significantly dry periods, and so that has, the average still shows up as 9%, but there are problems which are higher in certain areas. that means that we have to get very --. in june they were very good. july and august, the monsoon impacted production. we started the monsoon season with high hopes and a lot of optimism with the initial rains in june but turned into

disappointment after. there are specific crops affected. the areas that have been affected our gujarat and punjab, which are some of the key areas. those crops will see a reduction , because alack you're in has reduced the sowing areas. one more thing we watch as we have gone by what has happened in the past, this year because the monsoon was more erratic, the farmers have been trying to stay in step with that, planting at a later stage as monsoons have been delayed. it is something to watch. what we do know is that the optimism with which we started

the season has probably reduced because of the lack of rain. rishaad: if you could answer briefly, the thing is, covid has also been a big thing in the rural parts of india as well. tragedy has unfolded there. that must have had an impact on and had other knock-on effects. siraj: covid did impact the rural areas significantly than in the past. but the larger impact time was between april and may and early june while the sowing period started onward. so sowing was not really affected by covid. certain districts may have had an impact but overall, i don't think covid impacted the sowing because it happens after the first week of june, by which time a large part of the covid impact had been brought under control.

haslinda: do you think we need to see government intervention to help the farmers. siraj: government intervention has been there on --. one deal with the farmers provides financial aid. the prime minister's financial team provided aid to the farmers recently. more importantly, i think the government got clashes. the current situation does not warrant an, but it does require caution. managing food was important because that will impact all elements of the population, every sector. the government did move fast to reduce duties on certain oils, they allowed the import on serving meal to manage costs in

the poultry sector. all this reduction in duties, permissions to import, will end before october. which means when the harvest comes in, the former will probably not be impacted -- the farmer will probably not be impacted. we will see how they help to solve the problem, but the government has certainly made the move. haslinda: some perspective for us then, what kind of impact in terms of food production and what kind of impact on the economy. siraj: on food production, there is not going to be a significant impact. what the numbers are telling us, the winter harvest is going to be -- from last year. over the five-year average, it is still a higher number than the five-year average, but from last year, it is 2% lower, which

i don't think will be a significant impact. what also impacts inflation is stark the country -- what also impacts inflation is the stock. the country is sitting on good stock. there are edible oils which are linked to the global markets, that has seen inflation and that is a global inflation and india managed that a reduction of duties. there will be sufficient availability of food, particularly in between july and october when supplies are low. there is inflation in food prices but i think, october, when harvests start for most of the crops, that will be tempered. however, we have had a year where food prices have been higher than previous years. this is a time when prices are higher and that challenge will be faced by the food processing

industry and, but it will be beneficial for the farmers, because even if there is light production in their crop, the higher prices should yield them a greater return and that should negate the concern on the economy coming under pressure. haslinda: great perspective, siraj chaudhry, ceo at national commodities management services. thank you. still to come, our interview with wesfarmers' rob scott after the company beat earnings. what does the australian conglomerate think about major covid-19 lockdowns across the country? this is bloomberg. ♪

haslinda: a quick check of the latest business flash headlines. while demand and a recovery in prices help this company reverse its biggest ever loss. china's top oil and gas producer posted a net income of over $8 billion, its next quarter -- it's best quarter in many years. it aims to cut emissions to near zero by 2050. the profits for this company plunged 60% in the first half as financial hits from a troubled

property developer more than doubled. it raised $3.2 billion from the company's fortune. it is also facing a repayment failure as beijing exerts control over the sector. rishaad: in this company is considering buying a minority stake in this chinese group in hopes of securing supplies of key battery materials. the ev battery maker says it is in stock talks to buy 10% of the company. the shares of the company have jumped 60% on the news. and that ship krach will likely last through next year -- the chip crunch will likely last through next year. the industry has been hampered by a shortage of key materials.

chip delivery times have surpassed 20 weeks since the delta variant complicated efforts. haslinda: and we are off to australia. wesfarmers reported results for the full year, beating out estimates. it is one of australia's largest employers. rob scott joins us from perth. he have benefited pretty much from a work from home bringing forward a demand for home improvement. do you expect demand to persist or will it moderate from here? rob: over all, the underlying demand has been strong enough to earlier -- in australia. but in two major cities, melbourne and sydney in lockdown at the same time, and we see

emerging issues in new zealand, it has had a dent on consumer and business spending, as we updated today. we are expecting the next couple of months to be pretty challenging not, just at a business level, but a community level. but overall, our business and our balance sheet is in good shape, and we are more optimistic as we look forward to the christmas trading period. haslinda: most businesses have benefited form their online presence. what kind of growth are you looking at for your online businesses and what does it mean for your brick-and-mortar margin. rob: we see the online business as critically important for our future growth. it works very neatly alongside our fantastic store offer. our best online customers are also very keen shoppers in our

stores. last year we were successful in delivering 57% growth in online. if we include our e-commerce marketplace, we delivered $3.3 billion of online sales. at the moment, when a little of the country is in severe lockdown, it has been great that we have had such strong online capabilities. we have seen very strong growth in the last eight weeks to our online penetration rate, given many of our stores are required by government lockdown to be shut. rishaad: the vaccination take-up industry has been dreadfully slow. isn't it time to get moving, time to mandate your employees to get jabs that they need, and ultimately perhaps there and things moving across the country. rob: well, in the last month or two, we have seen the vaccination rate go up.

in new south wales, for example, over 6 million doses delivered recently. i think australia is getting the message that we're seeing the rates increase materially. you are right, that is our path out of lockdown. across wesfarmers, we are doing a number of initiatives to encourage vaccination -- we have encouraged. vaccine leave for our team members, we have also set up vaccination hubs in our stores in new south wales. we are very supportive of vaccination. it does become challenging when you have 100,000 team members that are broadly representative of the community, to mandate vaccinations, particularly at a time when not every australian has had access to a vaccination. but we are doing what we can to make sure our team gets vaccinated. and we're seeing that improvement across the nation. rishaad: i am, of course,

talking about your retail division. . but you have also got an industrial division. how did you manage both beats, and, is it time that perhaps you divested or spun off one of them. rob: interesting question you raise. we have been asked that question ever since we became a listed company in 1994. fortunately we stocked our guns and remained true. what we like about our conglomerate model is it gives us amazing flexibility to allocate capital to where we see the best opportunities are over the long-term. because we are focused on the long-term, we recognize that business and industries change from time to time, and that has served us really well. we have a divisional autonomy model that has a lean and high-caliber corporate center and devolves a lot of accountability to our retail

businesses. and i think the results we deliver today shows the value that is delivered under our operating model. haslinda: we know you are transitioning some of your target stores to kmart. give us a sense of the thinking behind the move. how will that play out for the company. rob: across our kmart and target businesses in australia and kmart in new zealand as well, kmart had a very clear proposition in the market, which was the lowest price they had quite phenomenal product development capabilities amazing products amazing prices and we had a really strong growth platform there. target is operating in that very challenging middle-market segment, and quite frankly, we didn't have an opportunity to have such a large network of

target stores and we are stronger growth online. so converting the stores to kmart and k-hub stores has been successful as a way of strengthening the very strong business in kmart. it is allowing us to simplify the target business, which has started to improve and perform a lot, and we are seeing stronger online growth in that business as well. so we're very pleased with the repositioning. rishaad: tell us a little bit about, on the retail side, you mentioned some weaknesses. what about the industrial side? what needs work there, and what is the standout. rob: probably the standout of our industrial business has been the strong performance of our chemical, energy and fertilizer business. the majority of it is based on the west coast of australia. we are major suppliers of chemicals to the mining industry, the iron or miners,

and also brought acre farming. those markets have remained very strong. we have highly efficient operations. that has been pleasing. the big focus of our industrial operations at the moment is on the developmentally new, integrated refinery for the development of lithium --. we have all the critical approvals for a remote holland development and we have already started -- for our mount holland development, and we have already started construction. we are very excited about that opportunity and we are ongoing with the development of that project. haslinda: thank you so much for your time, rob scott, wesfarmers managing director. we have been trading about seven minutes now.

india's a market where it has been testing at record highs, boosted by liquidity. retail investors giving a boost to the markets in the country, rishaad. rishaad: one of our top stories, of course, afghanistan. dozens of people killed with two explosions going of outside kabul international airport. another day of chaos as civilians try to flee from taliban for. the taliban itself saying it is not behind the attack. but. many see this as further signs of instability in the country at the moment and perhaps more to come. let's bring in bloomberg opinion columnist with pollard. . the country is a library precarious position. 100 50,000 people displaced. hundreds if not thousands of people trying to get out. ruth: yes, it is an awful situation. these people, because of the

chaotic scenes at the airport and the chaotic nature of the evacuation process, these people were left very vulnerable to these kinds of terrorist attacks , and indeed, the u.s. and the u.k. had been warning in the days leading up to the attacks that something like this might happen. obviously, the islamic state are very opportunistic, and it will take advantage of any situation to make their presence felt and it looks like that is what they have done here. haslinda: you have to wonder what it all means for the jihadi movement globally. ruth: yeah, the jihadi movement is split on the taliban victory in afghanistan. al qaeda, which has long been linked to the taliban, have been very congratulatory to the taliban and saying that they hope that the taliban's victory

can be replicated in yemen, in somalia, in pakistan, in syria and across the indian subcontinent. so that is there warning, i guess, to the rest of the world. whereas isis, in particular, the islamic state in khorasan which is based in afghanistan, has been critical of the taliban and they have had many clashes in the last few years. they say the taliban have sold out to the u.s., and instead of taking victory in afghanistan, it was simply handed the keys to the country by the united states. so i think we're going to see more attacks from the islamic state as it takes some inspiration, i guess, from the reaction that we have seen around the globe to the taliban's victory in afghanistan. rishaad: we had a guest on

earlier, christine fair, who suggested that this relationship between isis-k and the taliban may on the face of it look like they are at loggerheads but she says that actually, they could be cooperating, given the fact that there was not a single taliban person or soldier, if during these attacks, when the whole airport was overrun by them. ruth: sure. that is entirely possible that they could choose to cooperate behind the scenes in some instances and then fight in other instances. what we know is that this may lead to the rest of the world viewing the taliban as a lesser evil, and that would be a disaster to the civilians in afghanistan. haslinda: bloomberg opinion columnist, ruth pollard. our coverage continues next. we will hear from a slate of fed presidents during our special coverage of the symposium at jackson hole, the focus of markets today.

in asia, a pretty steady session. take into consideration the developments in afghanistan and questions about regulation in china. plenty to mull over. that is it for now. our markets coverage continues. this is bloomberg. ♪ loomberg. ♪

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