>> if you've been inspired by anything you've seen and would like to help out the children in haiti -- freedom project at cnn.com/freedom. they need you and we need you. . hello, here are top stories this hour. egyptian protest leaders are calling for a massive turnout today. protesters have fought with police for nearly a week. they're calling for the interim military rulers to step down. among today's planned events, a million man sit-in. arab league has give syria until today to let officials in

or face penalties. cnn cannot verify those reports because syrian restrictions on international reporters. five demonstrators were killed in yemen early thursday. the violence comes a day after the president agreed to transfer power to the vice president. iranian state media report that the government has arrested 12 cia spies. allege spies tried to cripple u.n. military operations. the report hasn't been independently confirmed. it's 9:00 here in london.

good morning and happy friday to you. >> and it's 5:00 p.m. here in hong kong. good afternoon. you're watching "world business today." the top stories this friday the november 25th. ousted krae michael wood turns to japan to meet with the board and he has received a rock star welcome from the media. a new standing puts hong kong in the top ten most polluted cities in the world. and -- >> i got here at 5:00 a.m. >> sometime before 9:00 yesterday. >> i was here since last night. >> u.s. shops brace for a record number of customers on the busiest retail day of the year. first up, the stock market action. beginning with things here in london. broadly speaking investors are watching how the euro situation will played out in the future.

let's look at how the major indices are doing this session. after flirting with some gains yesterday, they started out on a pretty negative not. in particular, in germany, the dax has nose dive over the course of the first hour of trading. andrew, it goes to show that the potential no rule of the ecb with its on problems and shooting down plans with euro bonds hasn't been taking well by the market today. >> absolutely. it's where the politicians seem to be wrangling what should be done while the markets are crying out for decisive action. as a result. this is the result in asia here. yesterday a brief respite. but today, pretty much a sea of red.

really the european debt concerns are front and center. that was a bit of speculative, more hopeful bargain hunting. it was back to business as usual today. financial and energy stocks, some of the biggest decline right across asia. the hang seng is down. there was new economic data out today that showed japan consumer prices are down for first time in four months. basically that means that japan has returned to a deflationary situation. comparing to 2.2% rise in the previous month, deplace leads to

spiral where customers stop b buying, that's a real fear for policymakers. strong yen and weak economy demand. hampering things in japan particularly there's so much uncertainty now. >> yes, staying with the japanese theme, fired ceo michael woodford has turned into a so-called celebrity. he was fired from his post at olympus. this week, he has become a media magnet after returning to japan. shares of olympus were up 5.8%. the stock is still down more than 55% since its price on october 14th. earlier, woodford faced the board that actually booted him out.

three of whom who have given up their positions as of thursday evening. they haven't offered his job back now. what they promised was a change of management when the current crisis is eventually resolved. >> absolutely, this was the scene as woodford arrived on friday morning. >> i'm not in london or new york. i'm here. so, i can talk myself. >> certainly a media scrum. you don't see that scrum for a business person too often in tokyo. the attention certainly intense today. here's what wood ford told cnn. >> we had a constructive and an honest exchange. constructive and honest exchange. this is clearly a shared desire that the company is not delisted. the priorities that we represent our accounts for the 14th of

december, which is a prereck was it is that the company can remain tradeable. good for our employees and share holders. there are areas of consensus. the press release last night, again, recognition of the board -- the remaining board directors have to change, again, was important to me. so, it was -- constructive. >> now, woodford pulled an impressive audience to when he appeared at tokyo's foreign correspondence club. in fact, more people came to see him more than the dalai lama who was at the same venue recently. in a sense here, puts the man and his mission in focus. >> with cameras snapping, michael woodford touched down in

tokyo, confident and confrontation confrontational. >> that's not good for japan. >> woodford back in japan for the first time since his firing, wants the cameramaker disclose in the takeover fees. the largest in history. dating back in 2006. olympus originally denied any wrongdoing and initially let woodford go. disclosed former chairman, a chief auditor and vp had all colluded together. despite those admissions, at louis capital, advises this. >> there's clearly a lot more

work to be done. no way to verify the data that we're basing our decisions, the actual transactions that taken place. >> be with me or without me, olympus needs new management. they need to someone who gives confidence that everything will be looked at and nothing will be hidden. >> reporter: looking ahead, michael woodford hopes to avoid delisting the company from the japan stock exchange. that will depend on the ongoing campaign. and to woodford has done here is particularly impressive on a global scale not the corporate world of japan.

how likely is it that he'll get his job back? >> woodford himself said that he's not obsessed getting this job back. he would like it. it's not that important to him. he's very comfortable in the legal position he's in. there's comment in japan, not necessarily from the japanese media what olympus needs not the whistle blower to sort things out, there's a line of thoughts to suggest that he won't get. the other, i don't think perhaps the most encouraging thing to coming out of what he has said so far, he now says that he believes the authorities in tokyo will get to the bottom of this. he's convinced that the light will be shown where it needs to be shown. this won't be a white wash in japan. >> yeah, we heard woodford himself say in his own words

that olympus needs management. going back to its old management including him. now, ready, set, wait. >> this is occupy best buy over here. >> u.s. shoppers line up for days to grab the best holiday deals. yes, it's black friday. the busiest shopping day of the year in the united states. the question is, will retailers get the gift that they're looking for? profits. that's next here on "world business today."

we figured out after they realized there was 242-inch sharp tv. it's pretty nice >> i got here at 5:00 a.m. >> some time before 9:00

yesterday. >> we have nothing better to do, so why not? we're young. >> i'm getting that sharp tv because it's such a good day. >> i'm getting an xbox. >> i'm moving out of my house at some point, i'm going node a tv. >> i'm just hanging out. waiting on my tv. i'm going to get twilight on dvd. >> i wept to like walmart and bundled up, got some more layers going on. >> this is occupy best buy over here. >> is this the new normal? just the few millions of people who will hitting the stores looking for bargains on black friday in u.s. >> best buy opened its doors at midnight. many of the retailers were offering outside showing of

harry potter. >> calling out all stops. >> toys are us got an early start. walmart. for the first time ever the retail chain opened its stores in the u.s. on thursday evening that's 9:00 p.m. just in time for people to finish their thanksgiving feast. they hope the discounts will put it ahead of the competition. >> jerry, talk to me about what you're expecting for the holiday season? >> one thing we learned, christmas always comes. we expect parents to be excited about buying that great holiday gift for their kids. i'm not an economist. i know that times are difficult in general. >> next in line.

>> reporter: what do you think the state of consumer is? what are thinking right now? >> they will buy. they want to make sure they're getting a great deal. we focus here that we have fantastic, amazing deals throughout the holiday season. on top of that, we offer our consumers who join our loyalty program the chance to get 10% back on everything they spend this holiday to get that back after the holiday and that's an incredible offer. >> reporter: we have some of the toys that are going to be hot here. what do you think is the best seller? >> the hottest toy is a giant inflatable shark. the leap pad is the hottest electronic toy for kids. it helps your child learn how to read, learn gee graphy.

>> reporter: competition from mass discounts like walmart and the rise of online shopping almost drove the company out of business. he was brought in to turn the company around. how are you competing with walmart and amazon online? >> we're totally focused on toys. we have more toys than anyone at the price point. we work very hard to make sure that we have the hottest products in stock all of the way to christmas. when you get a product like this, the ugly doll, you can't get this at the limited stores or the discount stores. >> you talked about expanding in asia, how key is that to rebuild toysr us. >> we repurchased our properties

throughout asia. so, we're opening stores up southeast asia inspect. in singapore, hong kong. thailand. you would recognize it if you went there. toys that you would feel very comfortable with. >> let's take a closer look on how important black friday is for retail ners terms of the numbers. an estimated 152 million americans plan to shop over this holiday weekend. up 10% from last year's figures. millions will be opening up their wallets without stepping foot in stores. many retailers, amazon, walmart, sears are going to be offering special online deals. online sales is estimated to be at $700 million. retailers are getting a jump thanks to cyber monday. the traditional start of the online shopping season.

andrew, there's plenty more to come in terms of good news for the retailers, it seems. >> yes, it's interesting, you got more people shopping, are they spending less money? you got to think that they are in these strained economic news. there's another bit of good news, india is going to open its market for big players, walmart and toysr us. >> just ahead here on world business today -- a harrowing story that could leave you feeling that little choked up. new figures rate hong kong rates high for filth arizos wel for finance. all of the grubby details when we come back. l shampoo defeats dandruff after just one use. t/gel shampoo. it works.

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-why? -why? -why? [ female announcer ] we all age differently. roc® multi-correxion 4 zone moisturizer with roc®retinol and antioxidants. lines, wrinkles, and sun damage will fade. roc multi-correxion. correct what ages you. the world population recently passed the 7 billion mark as the planet gets more crowded, the air we breathe gets thicker with the pollution that we create. and few places are either as crowded or as polluted as the city you're looking at right there. yes, sad to say, it's hong kong. now, a new report examining air quality in hong kong found levels that put it eighth from bottom if it had been included

in a recent global rankings put together by the world health organization. the study looks tiny par tick lates. hong kong's air is filthier than cities such as manil in the p l phillipines. and sao paolo, way ahead in 81st place. where the cleanest air is? think about whitehorse, population 26,000. population density, 49 people per square kilometer. hong kong, population density here is 6.4. bear in mind, hong kong, 75% of

its is countryside. enough to take your breath away. >> no pun intended. let's see if we can expect brighter skies also. rain and snow is lighting up the radar through parts of northwestern europe now. let's get more from the meteorologist who's standing by at the cnn international weather center. >> good morning. across parts of northern part of england, some showers and some storms. more importantly, wintry precipitation out there. a little bit of freezing rain out there. as i show you right now, you see that moisture working in. we'll continue to see that rainfall out there as we go through the morning and afternoon. but up towards the north, looking at that wintry precipitation, in the higher elevations in addition to that, we're talking about windy

conditions. out for belfast, winds from about 30 up to 45. so, that's going to be problem spot today. as we go through the upcoming weekend the weather is actually looking quite nice. ridge of high pressure in place. lots of sunshine out there. dry conditions. the only area that we're going to see rain is mainly towards the north as well for areas, norway, as well into sweden, that's where all of the storms are going to be. dry as well as dealing with drought conditions through parts of central as well as eastern europe. across parts of u.s. we all know that it's black friday. many people went out there after they finished up their meals. if you look at the radar, it's really quiet towards the south. west, rain, a little bit of wintry precipitation over towards the west. no problems out there for those early shoppers.

as we go through saturday, we'll see a frontal system coming through. but in addition to the quiet weather, we're dealing with mild temperatures down towards the south. finally, i leave you with an image coming out of bath, england, nina, look at what's happening there, they're getting ready for the bazzar, or i should say the christmas festival. they're just shopping and looking around for some goodies. of course, this is fashioned after the germanbazaar. >> those christmas markets are pretty cute. >> you can always find something there. if you need to return something, it goes away. you know. >> good for you, get out on black friday and hit the shops. jennifer delgado, many thanks for that. andrew? take it back next year when

they return. still ahead here -- a big blow for hungary movies. we'll take a look at the ramifications coming up next.

from cnn london i'm nina dos santos >> and i'm andrew stevens. welcome back. let's take a look at the european stock markets are

faring. we got italy borrows costs soared today. something that the markets worried about. also concerns about other countries outside of the euro zone like hungary having theirs downgraded. the dax suffering the most. ftse and zurich smi, they are suffering as well from the same concerns, andrew, we're all talking about euro zone suffering debt crises. ebc is not going to be playing more of a role in the markets. that's why people are worried today. >> absolutely. where do we go from here? certainly those worries that you talked about are very evident eve everywhere around the equities

markets. certainly here in asia. all of the indices finishing lower again. european debt concerns continue to worry the markets. financial and energy stocks the big losers in this region. there was new economic data out of japan today. showing that it has returned to a deflationary spiral. consumer prices falling for the first time in four months. compared 2% for the previous month. no stranger to deflation, deflationary situation, really much the last ten years or so. >> yeah, i think many of the people are our generation know that pretty well, andrew. the situation hasn't changed yet. if we come back to europe, hone in on what's playing on

investors' mind, another debt downgrade. moody's has now cut hungary bond rating by one notch, it now stands in speculative grade. moody says it downgraded hungary to be 1 because of its high debt and doubt about its ability to meet targets. the currency there is trading at a record low. hungary requested more help from imf. so, things don't bode well for this country. and of course, andrew what it really means it's not just euro zone country that they're worried about, the fast-growing european countries having trouble paying their debt back >> absolutely. how did hungary get into this

situation? many were thinking eastern europe were managing itself quite well? >> so, what exactly happened with hungary, it has been riding a high deficit for a long time. one of the country to get some financial assistance back in 2008 for the eu and the imf. what was interesting about the situation with hungary, up until just this week, we had seen a frosty relationship between the re-elected government and the imf. they wadidn't want to adhere to the austerity measurements. they introduced some interesting, but rather dubious meetings, such as rating the pension fund to pay down that deficit. it hasn't worked. the markets aren't convinced. which is why they have gone back to the imf for help. >> raiding the pension funds is never a food idea to get

yourself out of an economic hole. leaders of germany, flans and italy say they're committed to getting together to make the euro work. heard that before? chancellor angela merkel, nicolas sarkozy and monti met calling for economic unity. they know they need a long-term solution. they're not dealing with the short-term problem. it's left traders wanting more. >> reporter: it's long passed the time that markets are comforted by leaders meeting. and words haven't helped lately either. action and decisions are needed in europe. on thursday, in straussburg, the leaders of france, germany and italy met for the first time since mario monti became the italian prime minister. >> translator: we are determined as the three big economies of

the euro zone to guarantee the sustainability of the euro. we're determined to work for the good of europe. >> reporter: mr. mopti is no stranger to european politics as he was a commissioner for years. now, he's returned as a politician. and he's promising to stick to the plan, to balance italy's budget by 2013. >> translator: as you know, italy has a budget surplus that's 5.7%. from the past, we have inherited a large amount of debt. the aim of the budget is not to be questioned here. >> reporter: no big announces after their brief appearances after lunch. in the european central bank's area of responsibility no change. become the vehicle of last resort to buy bonds that have

been shun by the markets. germany could be responsible for the debt of greece, portugal, spain and italy, et cetera. treaty changes are coming the three said, but not the change of the powers of the ebc. even though germany had problems selling its own bonds into the market earlier this year >> translator: we want to work on the treaty change for teshgs uro zone. we have to make clear that we want to take steps for fiscal union. >> reporter: these treaty changes for tighter fiscal integration would come on governments that don't stick to debt rules. this may be the biggest decision to be debated by european leaders when they again meet on december 9th in brussels.

for more on europe's debt situation and other business stories, we're tracking here at world business today, check out our business 360 blog. weigh in with your own comments. nina? andrew, as the world counts down to the 2012 olympic games, london is busy making sure that it showcases not only the athletes but the art. >> reporter: now, the olympic games have inspiring stunning images and art through the years. just look at these olympic posters. paris, 1994. classical images of athletes. they couldn't be more different. munich from 1972, modern abstract art. 2012, will be no different. first time since 1972, that

artists have been commissioned to create the official posters. so, it only seems natural that they be unveiled here. >> cultural rides alongside the olympics. london and britain has a lot more to offer than just sport. definitely. >> reporter: one of 12 artists asked to paint posters for the game. what do you want people to take away when they see your poster? >> i want people to smile and feel warm and feel that they're part of something and not excluded from it. i wanted to do something that was the complete opposite to that. >> reporter: for an art historian the posters convey more than just an image. >> olympic posters provide fantastic snapshots, they provide a real insight into how posters communicate ideas at

different points. >> reporter: not just sport that's depicted but politics, too. >> if we look at the munich posters of 1972, there was a very conscious effort to change the look and feel of that olympics. freshest connotation from 1936, branded as a modern democratic event. >> what will stand out for london in 2012? >> the logo is a very powerful element of the whole branding and design of the london olympics. we look at the center, fantastic piece of contemporary modern design. >> reporter: one of the most controversial signature buildings of the olympic park is the tower known as the orbit. but the architect who worked on the project said it will be an unforgettable sight for visitors. >> people from different parts of london will get glimpses of

it. it's eclectic. it's unexpected. it's inventive. whether or not you like it, you'll always see it as an eccentric british creations. >> amazing. great stuff. if you want to comment on that story or any of these stories you have seen on this day or any other day, get in touch with the whole team on facebook. as always, let us know your thoughts. you can join the conversation on twitter. follow us at cnnwbt. of course, send your tweets about the show we would love to hear them. >> absolutely. but for the moment, that's it from us. thanks for watching this "world business today." i'm andrew stevens in hong kong. >> and i'm nina dos santos in

london. you're watching cnn. [ nurse ] i'm a hospice nurse. britta olsen is my patient. i spend long hours with her checking her heart rate, administering her medication, and just making her comfortable. one night britta told me about a tradition in denmark, "when a person dies," she said, "someone must open the window so the soul can depart." i smiled and squeezed her hand. "not tonight, britta. not tonight." ♪

this week on marketplace middle east, egypt's deadly clashes.

an economy at a breaking point and an interim government calling for calm. the growing interim conflict. plus, morocco's grand plans. and difficulties of doing business in the west bank after stalled bid by palestinians for statehood at theup. we spend a day in the life of a businessman. nine months after demonstrations led to the fall of hosni mubarak. protesters have returned to tahrir square. the violent clashes ahead of the country's apartmentry elections, led to the stock exchange fall to a two-month low. with those dismal numbers, egypt's future government is faced with a major dilemma. it needs to spend money to create jobs while trying to make money. we look at the difficult balancing act.

>> reporter: anger on the streets and fresh calls for change. against a backdrop of simmering mrilt call tension. the only certainty in egypt today is the economy is in crisis. since protesters first took to the streets in january, unemployment is up. foreign currencies reserves are down. faced with rocketing borrowing coa costs, the interim government is considering a $3 million loan from the international monetary. a loan it had previously rejected because of the stringent measures that came with it. they have under the to the gulf arab countries for pledges. like the rest of the region the biggest challenge facing egypt is getting young people off the

streets and into jobs. each year, 500,000 enter the work force. the egyptian economy needs to grow 5% annually just to create enough jobs for them. but the imf's growth, just over 1% this year. >> translator: for now the economy has collapsed and the country can't take it anymore. we're on the verge of bankruptcy. there's no tourism. >> translator: i worked during mubarak days. >> reporter: the ruling council has signed off on a budget that increases spending on social programs and subsidies for food and energy. it's a populous policy but one that puts a strain on already creeking economy. >> one country that hopes an election will boost reform and

its economy is morocco. the north african country heads to the poll today after unrest earlier in career. with the internation mall monetary fund putting unemployment at 9%. ben wedeman finds out. >> reporter: huge cranes lift the containers from a ship's belly. this goes on around the clock. 365 days a year. morocco's spanking new port has been in operation for only four years, an ambitious project to put this country squarely on the global shipping map. it sits on the straits of gibraltar. it opened in 2007, despite the

global economic downward, business has gone in only one direction -- up. most of the merchandise that passes through here is bound for europe, africa. more 2 million containers have passed through in the last year. each is individually from the ship to the storage area to another ship. executives from international shipping companies that have set up shop here, say that the moroccan government has cut through red tape to make the port success. >> we have found out through working that morocco is a good model for global business. we have been pleased working with leaders at all levels of the government. that are business-minded leaders. they understand the key drivers

of global business. >> reporter: but it's not just about goods, it's about people as well. between 30 and 50 passenger ships dock here every day. bringing moroccans homes as well as tourists from europe. it has the capacity to handle more than 3 times than that. a major terminal is under constructed. to double the port's current capacity. it will be able to handle 5 million containers per year. this massive project is costing 8 billion euro. more than $10 million. when it's completed in 2020, it will be one of the top ten ports in the world the biggest and probably the busiest in all of africa. it's far more than just a port.

it's the centerpiece of an ambitious plan to develop northern morocco. >> there was nothing here. this master plan has already approved. just not to reproduce what happened in the big ports. there's no way to grow. >> reporter: this one sleepy forgotten coast on the strait of gibraltar sleeps no more. ben wedeman. up next, doing business in the palestinian territories, despite all of the obstacles.

jordan paid a rare visit to the west bank this meet with pl palestinian minister. to show support of the palestinians following a stalled bid for statehood. failure to win the bid, the palestinians territories that stifled the economy will continue. we look at the challenges of doing business in the west bank. >> reporter: he's a businessman with a straightforward approach to success. >> our motto is very simple -- quality, quality, quality. >> reporter: here in factory floor of the palestinian

national beverage business, his attention to detail is clear. one of company's three bottles facilities manufacturing and distributing beverages for west bank. >> we were the first to launch coke zero, the first to reach almost a perfect score in terms of quality. we're the first employ exclusively one nationality, palestinians. >> reporter: that pride in place helps guide investments in the economy. born in the port city of jaffa, they fled their homes for lebanon during the 1948 war that followed the creation of israel. later after studying in europe, he settled in the united states. becoming a successful businessman. it with was the oslo acards and the prospect of a palestinian

state, they decided to return to their home land. >> when we the palestinians came here, we started holding company. then it became the envy of wall street, because we were able to raise $280 million basely over the phone. >> reporter: they formed what became the palestine development company, overseeing hundreds of millions of investments in various sectors of the economy, from telecom to manufacturing and finance. the goal in the only to make money but to create economic opportunities for all palestinians. by that measure, he has been extremely successful. he has created thousands of jobs in the west bank of gaza, and this housing development for professionals. speaks to his bullish approach.

>> i believe in capitalism. no capitalism, no jobs. that's the system that we have elected to take and i think having a place like that, is one of the means to attract new investments. to attract palestinians. to attract foreigns to invest. >> reporter: he say there is are limitations to economic development in a region that's not known peace for decade. >> reporter: at the end, growth, sustainable growth and occupation don't go together. it's not an environment for the faint of heart. an environment for those who are truly committed. we feel we have a certain responsibility. towards our own people. in spite of the occupation. we continue to grow. >> reporter: he saids that his investments in the economy will continue and despite those difficulties there's still money to be made for the dedicated

investor. kevin flower, for marketplace middle east east. that's it for this edition of cnn marketplace middle east. thanks for watching. we'll see you next week.