rica. lou: amen, pastor. thanks for being us. good night. >> announcer: from the fox studios in new york city, this is maria bartiromo's "wall street." maria: welcome and happy weekend. i'm maria bartiromo. coming up, orascom investment chairman gibb * i -- that gig sawiris is with us. reporter: the jobs report outpaced the street's

expectation. topping analysts expectations of 188,000. unemployment rate ticked down to 3.8% in may. that's an 18-year low. despite the strong jobs report markets finished mixed due to fears of a pending trade war with china, the e.u., mexico and canada. italy is europe's fourth largest economy. president trump announced he'll impose tariffs on aluminum and steel on canada, mexico and europe. the president cited national

security concerns as one of the reasons for the tariffs. the e.u., canada and mexico said they will respond in kind with tariffs of their own on u.s. products. federal regulators introduced a change to the volcker rule. and more bad news for germany's largest bank, deutsche bank. last week they announc they planned to cut 7,000 jobss part of the plan to c costs and overhaul its investment banging business. maria: while can investors are risk averse, my next guest seems to enjoy the. he invests in countries like iraq and north korea. he's not shy from political

risk. he supported the sanctions against qatar and helped bankroll the movement that brought an end to the muslim brotherhood's rule of his country of egypt. naguib sawiris, it's good to see you. we have all of these things happening in the world from north korea, to iran, and china. you have found opportunities in a lot of these places that people would think are scary, like north korea. you founded a telecom company in north korea. >> most of of the countries, it's one of the few places that did not have the network. the three countries were north korea, miramar and cuba. the north koreans embraced the

idea. first i had scepticism they would allow the population to own a phone, and today we have 3 million subscribers. there was a need for a new market. i have been there nine years and it hasn't been easy. maria: tell us about it. we know nothing about this regime. >> it's a closed economy. we can't operate the way we would prefer to. there is a lot of interference. there is difficulty getting your profits out of the country. and with the sanctions things got more difficult. maria: the president is supposed to meet with kim jong-un on june 12. what do you think and how crippling have the sanctions been in terms of the north korean economy? >> they have been very crippling. but the chinese keep them alive.

the chinese could not close it completely. they use the leverage on the west. they create a in north korea. but the sanctions have been tough. but, you know, as i said, you have to -- when there is gestures coming from one side and a way to sit down and talk, it should stop. the three prisoners, therefore, we should embrace that. and then we see that talk. if we don't like the outcome of the talk we can resort to war. but what war? a war that would destroy south korea first. they must be frantic when we talk about war. maria: what is the china connection. tell us about that.

i think for a while china was holding back on exports to north korea to get kim jong-un to the table. >> i think what they have done -- this should be applauded for it. they signaled some pressure. they have to deal with them with a lot of sensitivity. so i think they convinced him to talk. but i think the meeting is going to takela and i think youill have immense results. only thing that needs to stop is rhetoric military joint through with north korea dismantling a nuclear plant. it doesn't make sense. maria: i understand what you are saying. >> the problem is to understand how can i say, the mentality of

the other player. sometimes people are insensitive other cultures. if you respect me i will give you everything you want. maria: let me ask you about the culture of china. the way china and the u.s. have been interacting. this whole trade conversation. should there be tariffs? >> it's a good wake-up call. the chinese have always been taking the west for a ride. they stole intellectual properties and never paid for it. they closed the market. look at my market. it's all chinese. the equipment is all chinese. they don't aloirks sp, internet. even when uber tried to go there they created their own version and swallowed uber.

we should put the tariffs to get a wake-up call. sometimes people think it americans are naive. they take you for a ride. it should not be like that. i support the president totally in this. maria: china has been stealing the u.s.'s intellectual property for years. when you wanted to go and operate in china. you will only get a 49% stake in a joint venture. and the board of directors says put all our technology on the table. >> 49% if you are lucky. maria: they won't even admit they steal intellectual property. how do you fix it? >> you fix it by employing other sanctions. do you think all the people using microsoft are using legitimate licenses? i vte.

your thoughts. >> i have seen them in situations. they have always glen whether they should not be. i don't think -- they are the worst from everybody. i think they need a wake-up call. but the president seize an opportunity to play them against the others. the chinese should open the markets to western players. they can't just come here and try to buy stuff and export the goods while they are closing their markets. and they are. maria: i want to ask you about the middle east and i have to ask you about why so much much your tour tune is in mining and gold-related assets. stay with us. "wall street" comes right back. >> announcer: the cost of doing business with china. the trump administration pushing ahead with tariffs on china. naguib sawiris says that's fine by him. >> the chinese have always been take you and the west for a

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maria: welcome back to "wall street." orascom's ceo naguib sawiris is with us. i think the united states had issued with our friends like egypt and the saudis during the obama administration. how would you characterize our relations today versus the obama administration? >> i think the obama administration was a disaster. the policy in the middle east was a disaster answer we are paying the price today. we would not be in this situation today in syria if obama had kept his word when he said if you cross the red line.

and they didn't do anything. the significance of that is it made the u.s. look weak and side that they are threatening without action. the first thing they type to not do that. if you say something, you should act on it. on egypt they sold us out. they supported the muslim brotherhood thinking it would be different from a terror organization. they were the from the office of a terror organization. they dropped mubarak and they didn't try for a reasonable transition and support the muslim brotherhood. iran, too. $150 billion and they can go back to business as usual. maria: what do they do with the $150 billion in cash? >> exactly. maria: do you think that perception has changed with

president trump in place? >> except for the moving of the embassy in jerusalem, i don't think this step is good for the peace loving israelis. i believe in the right of the jewish people have their own state and capital. but the pictures we see today in gaza and the shooting of people who are not armed it's not helping the image of israel. and it's take the role of the u.s. as an honest broker in the peace process into doubt. even for me as a christian, i don't want my holy places to be under any certain religion. israel says we wanted to be a jewish state. so it should be open to everybody. i know they would open it to everybody. and they have the right to have to. but if we already decide that jerusalem there is, what do we want to negotiate.

there is a lot of muslim holy places in jerusalem and the christians, too. why do you decide something before you push people to sit on the negotiating table. who is going to trust you now that you have take besides. bar report saudis have seemed to have befriended the united states. >> i get into lots of trouble when i make my remarks. i think the process was not right. maria: i want to get your take on gold and how you are repositioning our portfolio with exposure to gold. we'll be right back with naguib sawiris. >> announcer: egyptian billionaire naguib sawiris is putting his money in mining assets. as a control enthusiast,

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i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. maria: i'm speaking with orascom's naguib sawiris. we were speaking about the crumbs yakdown in saudi arabia. how is that affect yoirn investment strategy. >> i'm not in saudi arabia. it's pushed me to be more bullish in gold. i invested in gold mining shares. i'm largest shared holder in two of the world's mining companies

in afl -- in africa * and austr. it's an anti-inflationary place to put your assets. but it was misconceived by me when people said i changed my net worth into gold. no, i invest in gold mining companies because there is a 30% to 40% discount when you might yourself. and you can bring the business aspect. mining companies don't have a businessman on their boards. they are miles an hour, geologists or bankers. so when you come as a businessman you start to think in a business way. every time i give suggestions on the board they look at me and said yeah, you are right. it's like investments in exploration. they don't take risks on

exploration. i push the companies when i'm a shareholder to take risks next more sayings in corp southern gold. maria: what does that say. >> copper has a lot of industrial uses in cars and homes. and gold, the demand in china and india. they are all going to wear something in gold all the time. if you look at the big findings, there haven't been big findings in copper or gold anywhere in the world. so i think down the road we'll have less, you know, less offerings and that means higher prices. maria: so your investments are in related mining companies. tell me where you seat stocks? >> i'm worried now. every few years there is a big correction that happens.

i think we are bound to see in the near future a correction. everywhere. maria: emerging markets are having a tough time, but there is a lot of conversation emerging markets is the place to be. >> some places like egypt are on track. i would ask for people to invest in egypt. we have done the right things with the imf. we didn't try to argue too much. and we removed the subsidies. i think foreign investment is coming back. the foreign currency issue has been eliminated. we can come in and go out with your investments. egypt is a good place to do. china, i wouldn't -- we didn't have a choice to goin veftd there. india, i'm not sure. also some difficulties there. maria: you say china is such a

closed society there is not an opportunity to invest there. but you have been in north korea. >> you can't consider north korea as part of the world economy. but china is. i went to north korea because i feel i am doing good. people there didn't even have a fixed line at home. the fact that there are 3 million people who can talk to each other. bar rar basic phone or smart phone. >> both. the phones are very expensive. maria: amazon and others are facing the prospect of more regulation. >> it's a good thing. if i complain to them, they say it's none of our business. if someone threatens your life,

you should be able to react against it. if you report to them that this is incitement, sometimes they don't do anything. it should be clear rules and clear laws. most of of these social media being utilized by the dark web and the terrorists, they are having a journey now. bar require looks like it's come together sector. it was great to see you. don't go anywhere. don't go anywhere. more "wall street" after this. copd makes it hard to breathe. so to breathe better, i go with anoro. ♪ go your own way copd tries to say, "go this way." i say, "i'll go my own way, with anoro." ♪ go your own way once-daily anoro contains two medicines called bronchodilators that work together to significantly improve lung function

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maria: time for a look at the big market events coming up that could impact your money. we get the latest data on factory orders and dell technology reports quarterly findings as well.

tuesday it's market movers like the job openings report. and the ism. the non-manufacturing service is out. thursday, the initial jobless claims and the consumer credit reports it out. we'll get earnings from cooper companies. friday we end on wholesale trade. coming up next weekend, vanguard troop founder jack vogel is my special guest. we'll get his take in terms of investing. i will see you sunday morning. devin nunes is joining the program. catch me live. tune in week days on the fox business network for morning

with maria. thanks for jirng us today. i will see you next time. >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe.