>> oil prices on the rise with brent gaining ground and overtaking wti in morning trade. the bank of japan says the central bank would do whatever it takes to meet the inflation target. meanwhile, prime minister abe says the japanese government will remain the top priority in 2016. they are spinning off the u.s. subsidiary with ipo or selling

it out right as they look to bolster it's capital base next year. just logging on so i'll be able to read all of your tweets and everything like that. we have about a minute and a half to change maces so i want to make sure to see whatever it is that you write through here during the show and merry christmas. many of us celebrating on the 24th. it's quite. is anybody out there at all. are you there? hello. otherwise i'll walking to myself for another two hours. it is a shortened day for

markets in the u.k. amsterdam, paris. as said everything else is closed. a couple of market versus half days as well. one would assume that volumes are extremely low at this point with many of you off and those of you that are working, are you really working? let me know it's going to be a good two hours. let's show you the fx markets as well. we have seen quite a bit of volatile till. we saw a little bit of a bounce back from these all time or recent lows i should say and

commodities they lie down around $37 a sector. with christmas officially upon us it's almost time for the new years resolutions. i love new years resolutions. i do keep them. 2015 is drawing to a close pumping out returns of over 12% this year making it the top euro zone end zone. the ftse mib. the gains were trumped by the russian market.

russian market having done very well. you might not have assumed that but that's the case. one of the biggest losers is oil. they're both down by 30 and 35% on the year. commodity prices softening around the board making them the top or least worst performers. let's talk to one of our guests today. he is the head of investment strategy. good to see you. >> merry almost christmas. >> thank you. >> all depending. up north in denmark we celebrate today. so we just mentioned some of the stats there for some of the markets that have done quite well and a couple of the asset classes that haven't done so well. how do you see the law of the land at the moment? well, i think the interest that you mention which caught a lot of people by surprise has been

the oil price. the sharp decline and in a way i think the oil price or rather the oil market has been the global economic where i see it because the problem is two hold. you have excess capacity and excess supply but you can see that across the world because of excess supply if we like in global labor markets and we have weak demand everywhere and for us actually the implications of that is weak demand and it's not a surprise that you see weakness in prices. it's not a surprise that you see weakness in commodity prices.

wage growth has been weak and also we expect to see weakness in prices for loans as well they remain quite weak and low everywhere. >> i'm glancing back at an oil chart over the last five years, the drop was phenomenal. we went to 120 or $110 barrel down to currently 34. are we going to see it remain through next year. these fundamentals are they here to stay?

>> well, pinpointing the actual price is difficult. so you expect to see prices around 40 or 50 or $60 perhaps. that's likely where we will expect to see them at next year. >> so is oil a big part of your investment strategy? >> not per se. of course it has a big influence on particular markets. >> yeah. >> and we would look at the u.k. markets for quite a lot of this year. it was almost an oil index when we look at the ftse 100 and it's basically moved in line with the oil. so of course we have to pay attention to it but the big drivers are really still the fundamentals. it's still about the global growth outlook. it's still about our monetary policy risk points to the growth outlook and those are the key things i think. of course you have to look at

valuation and investor sentiment as well from time to time. it's the combination of the things that goes into our investment strategy. >> i want to come back and pick up on more of your thoughts on how to gear up your portfolio for next year. get your tweets through at louisa nice and early so i can use your questions and find us on e-mail worldwide@cnbc.com. for more on the topper forming assets around the world in 2015 head to our website cnbc.com. what's your top trade for 2016? we're talking about it here in the studio but if you want to join the conversation we'll float the addresses up for you on screen. now we're feeling phenomenally festive here on worldwide exchange. here's the tree at rockerfeller center in new york city. they haven't turned it on quite

yet. it's early hours in new york. let them sleep and get some rest. they work so hard in the u.s. don't they? >> just in the u.s. >> no, everywhere but in the u.s. they have two weeks off the average paid worker. it's ridiculous. >> it is. >> but anyway, somebody will be coming to switch on the lights very soon and take a look at these live pictures coming through from bethlehem. tourists and religious pilgrims are visiting the birth place of jesus. i've been there. >> really? how is that? >> lots of history going on and this is ahead of the midnight mass that's taking place tonight so these live pictures as well. have you finished your christmas shopping or are you planning to

brave them before the shot shops? last week we spoke to justin norwood about how technology and apps were helping the christmas consumer. >> this app is called the ibm watson trend app and what we have done is we take the power of the ibm watson super computer and put it in the hand of personal shoppers and what we have been able to do is listen to over tens of millions of conversations online and bring back what's trending in the world of retail across consumer electronics toys and health and fitness. >> what's frustrating for shoppers is the fact that they want a particular product but it's simply sold out so does your new app also help those shoppers try and get ahead of other shoppers?

>> we're able to do it ahead of time. if you're a parent and looking to buy legos for yourself or your children this holiday season you want to get them early. lego is forecasting a shortage that they will not be able to fulfill all of their orders. >> what's the hottest items? >> it's no real surprise to see a few popular names at the top of the list. apple products. perhaps surprisingly their watch is at the top of the list. a lot of 4k tvs at the top of the list and in the toy's category, lego is very popular. what is more interesting are some of the surprises on the list and one of the surprise toys of the season is the mecanoid robot which encourages learning, building and programming for young kids. >> so really making a splash this holiday season. if you look at how consumers are

doing their shopping we have seen a big shift away from stores and brick and mortar. they're now shopping online. that's not really a trend but that's intensifying, isn't it? >> it is. about half of the buying we expect this season to be online and in particular, the device of choice is the smartphone we have seen it overtake tablets as the preferred shopping device this season. >> any product category you thought would be doing well but it simply is not? are there any surprises out there justin? >> yeah, in terms of surprises there's one in particular in the head phones that surprised me. they have beaten out beats by dre or skull candy.

they're one to keep an eye on. one category that we're keeping our eye on hasn't popped just yet is the health and fitness category but when people get on the other side of the holidays and start making their new year resolutions we expect that category to pop. >> thank you for your insight. really interesting. product strategist at ibm. >> yeah. so some last minute ideas maybe on where to go find a nice little present for your loved one. now for many turkey is the highlight of christmas. the big juicy bird is the taste sensation that is the holiday. apparently some brits are getting bored of it. head to cnbc.com for that story. >> what do you eat over the holidays? >> it's hard to get bored of turkey. >> well -- >> not at christmas anyway. >> it depends on how you cook it. >> depends on how you cook it. >> i once had sausages for christmas. danish red sausages.

>> i'll still be craving turkey. i'll have that too. >> what are you having rose? rose, what are you having over the holidays. she does like turkey. but it is dry. it is dry. there's rose waving. the gallery. see the insight to what happens in my ear while we sit here on air. so the noisier they are the more fun the show is basically as i can't concentrate. also coming up ahead on the show, we hear from the man himself as he reveals his festive wish. as we go to break we're sharing santa claus's wishing us all a merry christmas in various language from around the world. >> merry christmas. [ speaking foreign language ]

one totally focused on what's next for your business. the true partnership where people,technology and ideas push everyone forward. accelerating innovation. accelerating transformation. accelerating next. hewlett packard enterprise.

>> bnp is reviewing it's u.s.

subsidiary. they're considering a sale or initial public offering of the bank that holds almost $20 billion in assets according to reuters. the bank says it's fourth quarter earnings will be reduced by almost a billion dollars due to a write down of its good will for its italian unit. it did however confirm it's 45% dividend pay out target. the bank of japan governor has reiterated central banks do whatever it takes stance to achieve a 2% inflation target. he also said the steps taken last week including an etf buying program should not be seen as additional monetary easing. meanwhile, japan's prime minister also struck an optimistic tone in an address to an economic conference saying the economy was a step away from ending deflation. >> now, here on christmas eve, on the 24th. one of our main guests is with

us from thomas miller investment. we were talking about what strategy, what investment strategy we should be look at for 2016. how do you plan ahead for the year? >> well, i guess as investors i suppose, our job can be -- there's two key elements to our job. >> 2016 looks like a time to focus on capital. it's been the drive in equity markets in particular. three key factors. one is monetary policy stimulus. the second is the expansion with multiples and also a bit of growth as well.

as we progress into the next year we see a bit of an inflation on the key drivers of the rally for the last few years. we already know that the fed started it's tightening program in december and they won the market pretty clearly that they expect about four hikes of around 1% total next year. so it will be a little bit less accommodative in the u.s. then moving on from that we know that valuations are not exactly cheap. >> no. >> however you define them and historically when the fed starts to tightening we tend to see multiples. it's with historical precedent so you get a fed tightening and

multiple contraction and they're not exactly racing. so when you take those three it's going to be quite a challenge in markets. when the fed does one thing the market dos something else. we haven't seen it over the last couple of years at all. >> very fair point but the key is what is the underlying driver and in this case, we know clearly that profitability margins are already contracted. we know that endless fans are already coming under that pressure from the unit labor cost side and also from just the impact of a strong dollar. so we already know that and if

you look up at the last few months, analyst versus been cutting forecasts for next year as well. >> yeah. so we already see some of it already in the works. >> so which half of returns should i be expecting if i'm an investor? >> the key for investors is to testimony par their return the last few years. things have been now seeing a bit of a turn around. some valuations are high. they are cheapen some what and they're not going to be it. they have been strong enough to outweigh the impact of compression but at this juncture, they're already declining. they're coming from a peak.

so they are unlikely to provide the kind of boost that will sufficiently outweigh the multiple compression that we will expect to see. so it should be a year in which tactical flexibility will be quite crucial. >> thank you for now. my goodness you're an active bunch. there are people out there. oh my goodness. i thought everybody was sleeping or out shopping but it turns out that you're with us. which is fantastic. hearing you clear and loud merry christmas. merry christmas to you. george, he likes bread. very good. thank you very much, george. myself and carolyn, we have been color coordinated the entire week completelily chance. you're awake at 4:10:00 a.m. new york time. it's 65 degrees fahrenheit and 18 degrees celsius in new york city. the warmest christmas ever. there's no snow. so is that changing people's patterns and yeah. >> maybe they'll spend more.

they get to go out to the shops. >> exactly. and maybe it will be easier for you to get to paris for christmas because you won't have delays. >> that would be nice. >> snow on the tracks and all of the rest of that stuff. thank you for being with us and happy holidays. look forward to seeing you next year as well. the head of investment strategy at thomas miller investments. >> now speaking of the weather, a dangerous storm system has killed at least 6 people as it sweeps across the u.s. causing damage and power outages in the south and the mideast. several tornadoes have touched down in indiana and mississippi. the country is experiencing a lot of wild weather at the moment. in the west, skiers are being rewarded with some fresh prechristmas powder though. while it has been unseasonably warm but the wet northeast remains, though. now puerto rico's cash strapped utility finally reached a deal with creditors to

restructure it's debt. a key move to helping fix the island's economy. they have more than $8 billion in debt. puerto rico is facing $70 billion in debt. it has a poverty rate of 45% and has been in recession for more than a decade. they face a $1 billion bond payment on the first of january. officials warned of a partial default on that paper. and palantir technologies raised $880 million in the latest round of funding. it's valued at around 20 b$20 billion making it the first venture backed private tech company and it's also among the most secretive firms founded in 2004. the data analytics and security company helped track down terrorists like bin laden and uncover financial fraud as well. now ibm's watson trend, an

app that forecasts shopping trends using online data suggesting that the apple watch is one of the most popular christmas gifts for adults this year. it's far from the only gadget that sold well in 2015. phil reports on this year's biggest tech product launches. >> what a year it's been in the world of tech. from virtual reality to the smart watch. here's our wrap of some of the big tech stories of 2015. apple released it's highly anticipated apple watch which sold more than 7 million units so far. but even with the power of the apple brand beline it customers still chose fitbit as the market leader when it comes to sales. not to be out done, samsung released it's brand new smart watch, the gear s-2 and allows users to make and receive calls from their wrist without being tetherred to a phone. speaking of smartphones, sony released the world's first 4k screen and blackberry revealed

the highly anticipated android powered phone seen as a last ditch tempt to make its devices profitable. it is allowing users to film full 360 degree videos and images. but if you're after something more professional in the world of virtual reality. check out nokia's new oso. with directional 360 sound and video it's the first 360 camera but with a price tag of $60,000 it won't be something for the christmas stocking this year. drones were also big in the news this year. mainly because so many of you are buying them. it's expected that more than a million will be sold in the u.s. alone causing concerns for the u.s. faa over the safety of national air space and finally it was the year of the hover board. despite safety concerns over recent fires and the fact that

it's illegal to ride them in public, they remain one of the most sought after gifts of the year. >> now, coming up here on worldwide exchange, san francisco's weirdest new start up. one rapidly expanding company claims to know what women really want.

welcome back. you're still watching worldwide exchange. merry christmas if you're just waking up and joining us. inso insome a insomniacs in the u.s. crude is still on pace to see the biggest two year loss on record. the bank of japan says the central bank will do whatever it takes to hit the 2% inflation targ target. bnp is reportedly considering spinning off it's u.s. subsidiary with an ipo or selling it out right as they look to bolster the capital base next year.

>> well, here in europe as i was saying it's very quite because a whole lot of markets are closed. the vast majority of markets. let me get out my nifty paper here. austria, belgium, denmark, germany, greece, italy, iceland, portugal, switzerland, philippines, indonesia and malaysia are closed. what's open? we're on screen now with the ftse 100 trading higher for those of you trading the ftse. merry christmas to you. the cac 40 is lower and aex is also a bit down as well we had just a little bit of buying taking place and these are flat yields at the moment. if you are trading today what are you trade something what are you trading? and how big are the trades that you're making? i'm assuming not very big.

we're holding steady in the euro dollar right around 109 or so. we were pushed a little bit higher. 109.59 is where we are right now. the dollar against the yen a tad bit lower. the bank of japan fine tuning it's program last friday and oil we have been talking about as well. a small recovery, thin trade but brent higher and wti crude up by just over .5%. now syria's foreign minister said his government is ready to take part in a u.s. planned peace talk agreement aimed at ending the civil war in his country. he said that he quote hopes that the dialogue helps us have a national unity government. meanwhile, russia rejected claims that it's air strikes in syria killed hundreds of civilians and could amount to

war crimes. russia's defense ministry called the evidence fake and biased. owen matthews, a bit crazy this morning. owen matthews is with us. a contributing editor at newsweek europe to talk about this. owen good to see you. >> good morning. >> you're based in istanbul. >> i'm based in istanbul. >> so where are we in terms of what's taking place in syria. >> well, in many ways there's been a break through. it's hard to argue that we haven't been here before. we have been through negotiations. we have been through endless going around the basic issue and that's whether assad is going to stay or leave but the latest break through focused on kicking that question down the road a little bit and we basically have for the first time both the syrian government and at least some of the competence on the grou

ground. the problem is the devil is always in the details so what needs to happen is what we have is stage one. all of the big international playe players. they all now want a negotiated process whereby six months is going to be the frame work for getting a nonsectarian government in place and free elections in 18 months. that's the plan and what's new and kind of extraordinary and hopeful is that everybody, all the principles are behind that. the problem is we have to workout who is going to be willing to negotiate with assad because essentially what they're admitting is assad is going to stay in power for at least 18 months. so what the plan is is really

the russian plan. >> it's the russian plan. >> it is. they have been saying keep assad where he is and find people on the circle moderate opposition to work with him. even the u.s. so against assad, there's obvious reasons, even the u.s. has got behind that there's still enough groups. we still have the isis problem. although it's being ground down it's not disappearing by any means. >> it looks like we're set for a deal but i don't see how the war ends tragically. i just don't understand that

even if everybody agrees on what they would like and even if the end game is to get assad out or keep him in, you know, syria is completely destroyed and you have something like 40 groups fighting on the ground as you also say, right? how do you -- do you negotiate with all of the groups? they're all valid in their own entities as well. they differ slightly but they all -- other groups, some more extreme. some less extreme but they are calling themselves radicals, right? >> you nailed it. first of all, all of this peace plan assumes that isis is out of the party. isis is not a party to any of syria's future. that's the bottom line of this but they have to do that first

it could be a four weight civil war very easily. as long as they have that there's still a lot of unifying -- there's that unifying factor. right now it's clear what the end game is going to be. the iraqi's right now are fighting through the center of ramadi and taking that back. mosu will is going to be the next target. they're going to be liberated. they want to liberate it in the next few weeks. that's on the iraqi side. in syria, well, you have the curdish fighters within 80 kilometers. they have been in these positions for sometime now. but the kurds are going to take raqqah. the iraqi army probably helped by the kurds of northern iraq

are going to take mosul. that's what is going to happen on the ground and we had this air campaign for 11 months which is already been pretty effective in some drawing down there, financing, bombing there and i think we see that. let's say we take isis out of the picture. your point becomes very valid. what happens to all of the 40 groups. how many of them are going to get on board with actually some kind of accommodation and asset. they paid so much blood and horror to get rid of this guy. are they going to sit down and participate in elections? frankly one of the things in the middle east and one of the sort of real outcomes and take aways of the disastrous bush decade has been that democracy, you can't have democracy in a

sectarian regime. people vote for their tribes. they did nit iraq and they'll do it in syria. >> but also i mean, this is a longer conversation but also how isis started and western money supporting the so-called rebels on libya and the gadafi government than went to syria and started the same thing there. isis is here to stay regardless of what happens. >> well, in the sense that the taliban just keeps resintegratig and reappears as a slightly

different form. >> we'll leave it there for now. we'll chat more about this as well. also remembering the civilians suffering in syria as well here over the holidays too. owen matthews joining us from newsweek europe. in other news completely separate to that, the saudi prince investment firm kingdom holding lead a group of investors buying a more than 5% stake in lyft. they're looking to raise up to a billion dollars in a series funding round. the group invested $100 million in that and bought almost $150 million of preferred shares in the secondary market. kingdom's share of the stake is 2.3%. the prince and kingdom group are major investors in u.s. tech companies. they own 5% of twitter. now hyatt hotels is investigating after finding malicious software on the system that processes customer payments. they're telling customers to check their statements although

it's not saying whether any personal information was stolen. the company says that the malware was discovered on the 30th of november but isn't saying why it waited three weeks to go public. they're among other major hotel chains that revealed they have been hacked this year. >> several retailers including eddie bauer and pacific sun wear are learning customers that their holiday packages are being delayed. oh my goodness. the wall street journal reports they're blaming a huge backlog at fed ex. the package delivery company says it's running at full capacity around the clock to accommodate a surge in volume from some retail customers. also the network is performing over the holiday season. in the old days you knew if you sen something after the 15th of

december, it wouldn't get there. >> that's recently. >> and now we expect to be able to go online a minute before christmas and still have our things there. >> next day delivery. it's the false hopes. >> how is it physically possible to get a package from california to london in five hours. >> right. >> it's not. anyway, what do women really want? one san francisco start up is claiming to have the answer. to sharpen your ears. man servants apparently is offering it's female clientele the chance to become so-called ladies of leisure by connecting them with attractive male assistance. the unconventional but fast growing start up. >> just in time for christmas and the new year we have finally answered the question, what do women want? this. man servants is a start up created by two advertising execs

who realized male strippers were gross. they stay fully clothed. is it creepy or demeaning? i had to find out for myself. meet a man servant. >> good morning, ladies. >> for $125 an hour he will adore you. >> so man servants is a luxury service featuring gentlemen at your non-sexual service. >> good morning. >> will hayden is my man servant. >> i enjoy serving people. making them feel special. >> i have started a four day juice cleanse. >> i heard. >> and i am very weak and disoriented. >> have you ever done a juice cleanse. >> i have not. >> you don't need one. >> i don't think you do as well. >> oh, thank you. >> we have served over 1,000 women for this past year. >> oh, yeah.

right there. and we are growing at about 10% every month in sales. >> wow. there are rules. >> no drinking on the job, no drugs on the job and absolutely no sex obviously. >> i was recently given a legolas costume with full blonde wig and everything with the bea beard. >> men hire man servants and man servants must remain mysteries. >> how old are you? oh can i -- >> how old would you like me to be? >> well i'd like you to be my age but you're not. >> he's 26 by the way. they're strarting a round of venture capital funding to explore even more and the faster growing part of the venture, corporate events. >> tough job she has. very tough job. it's interesting though because if you switch the sexes, if it

were a company that started -- >> that would be really creepy. that would be not okay. >> that's a different connotation. >> who would hire them. >> a thousand women -- >> on the other way around? >> yeah, well -- >> creepy. >> i don't know. >> it just adds to the sum of human happiness. >> i guess, exactly. exactly. i don't know. i want someone i can talk to. not someone that's fanning me. you know? what's the point in that. anyway, we're feeling fantastically festive here on worldwide exchange. here's a look at the tree at rockerfeller center in new york city. rose, producers very excited that they lit it. so somebody is up very early to light the tree. if you're up early as well feel free to send us a tweet worldwide@cnbc.com or on twitter. i'll read out some of your many

messages a little bit later on. i thought you all were sleeping orgon for the holidays. loads of you writing through from the u.s. as well. nice to hear from you. good morning, merry christmas. ashley bryant, you are a teacher of small children. that's right. i have read it is the hardest job in the world. that's why i'm here. can you... i can offer advice from the accumulated knowledge of other educators... that's wonderful but... i can tailor a curriculum for each student by cross-referencing aptitude, development, geography... sorry to interrupt. but i just have one question: how do i keep them quiet? (pause) watson? there is no known solution.

>> the country is set to sign a contract to build six reactors in the first half of 2016. it will be a sign that the $150 million nuclear program is getting off the ground. they signed a deal with the u.s. in '08 which allowed it to develop nuclear commerce. the indian prime minister arrived in russia on wednesday in his first ever state visit to the country. the prime minister will later hold talks with president vladimir putin on nuclear energy and defense cooperation. jeff spoke exclusively to the indian finance minister earlier this year and he addressed the impact on external factors on the country's economy and says he wants rates in india to come down. >> it's something to do with

china or the speculation of the fed rates. every day something gets to impact the markets and therefore as policy planners we cannot really hedge all of our bets on what happens as far as the rates are concerned. >> well, i can understand the point that you're making but india doesn't live in a vacuum. we have a world that apparently has very weak global demand. that's the message the fed has sent us. as much as you may want to focus on domestic india, you will be effected. >> the external factors will impact our markets. external factors will impact on exports. external factors do impact global demand but there's a lot in the country like india and a huge domestic demand can make up for that an therefore should i not be concentrating on external investment, domestic investment,

domestic demand. >> you have an opportunity or at least the rbi does, it seems to me, now to bring down rates quite aggressively for domestic india. the inflation rate is half where policy rates sit. do you hope that in the meeting at the end of this month you get some very aggressive reductions in interest rates in. >> as somebody that wants india's economy to grow and who wants domestic demand to grow i would want the rates to come down. >> but he's running out of excuses. >> well, i am at no liberty to use these expressions which you have. i'm certain that the rbi along with the governor and all of the other colleagues will come to a very balanced decision of the matter. >> you been in singapore. you're now in hong kong. this is a trip that involves you meeting with investment funds with governments. with sovereign wealth funds. can i ask you, as you talked

with these potential investors what issues were you able to reassure them on that has stopped them investing in your country up to this point? >> the kind of things that we have done and the things that are in the pipeline in india have to be communicated to the investors and therefore some impressions have to be corrected. >> what was the issue, the one issue that you felt that you were able to ease their concerns. >> for instance, a lot of people in the financial sector were very concerned about the goods and services tax. they were extremely concerned about an exit policy and currency law. they were concerned about multiplicity. by an large they're quite satisfied with the fact that taxation reforms in india are moving in the right direction. >> where after my work touches india an companies is where

companies have dispute with the government and we know the tax dispute has run on for many years involving companies like shale and vodafone. you have said that you're close to a resolutionov of these disputes. can you tell us what is going to happen next that ends this. >> we now have about three issues spending before us and i'm looking at each of those three issues. they're all pending as to the best way to get an expeditious exposure. we are very eager to have a resolution. the resolution could be by a judicial tribunal or some discussion within or similar matters to settle other disputes. >> but they will be resolved? >> i'm certain. it's necessary in the large interest of our economy to

resolve these issues because tax instability doesn't help the investment environment. and therefore we want the entire instability to be resolved. >> all right. let's get back to a conversation that we were just having here ten minutes or so ago. namely that of the middle east. iraq's military is days away from retaking the isis held town of ramadi. that's according to its army chief troops. they're focussing on the last remaining district in the town. they fell to isis fighters in may. the recapture of the strategic town with roots to jordan and syria is expected to deal another major blow after iraqi troops retook it earlier this year. you have been around quite a lot. you live in istanbul now. you spent a lot of time in russia and iraq for sometime and

afghanistan as well. a real sense of understanding for the entire region and russian and turkish perspective on top of that. the turkish perspective now you're saying it's the elephant in the room. >> if we're talking about defeating isis what we're talking about is the kurds because isis control is in northern syria and northern iraq and the largest army on the ground with a chance to defeat them are the kurds. they're on different side of this conflict. if they turn out to be the dominant military power on the ground in syria the turks aren't going to like that. what i mean is that actually

even if we get isis out of the picture which they will actually do with this massive air support and the backing of a western arpaioer, the kurds are going to emerge as the dominant power broker there and gives turkey a strong incentive to stabilize the peace process and pull the plug because they don't want the kurdish state on their boarders. >> thank you very much. i hope to see you in the new year to continue the discussion. we have just a couple of minutes to go before the top of the hour. still to come we'll look ahead to next year's best trades and where the growth prospects are.

> . >> hi, everybody, welcome back. thank you for tuning in. these are your headlines from around the world. oil prices on the rise with brent gaining ground overtaking wti in morning trade. crude still on pace for the biggest two year loss on record. the central bank will do whatever it takes to hit it's 2% inflation target. meanwhile prime minister abe saying the economy will remain the japanese government's top priority in 2016 and h