this is bloomberg. ♪ ♪ i am yousef gamal el-din in it dubai. check in with the high bunds that's headlines. they say the pool may only grow by a low single-digit percentage. that number is yet to be finalized. after the bank enters its final year of the restructuring plan. bloomberg sources say airbus is in talks to sell jumbos into british airways this year. the news comes after the playmakers secure a playmakers deal from emirates this week. they have said in a pass that they were looking for 6-7 secondhand ones. now, it is said to be taking a larger number of new ones. analysty watched apple now says apple will move about 62 million of its expensive smartphones during its lifetime. that is down from 80 million. he cited weaker demand in china. that is your bloomberg business flash. yousef: thanks. let's talk about what is happening in oman. they are gearing up to host their first ever opec meeting. meet laters set to today. already insisting there is no need to change tax. it is good to have you on the program. talk me through what exactly i

i'm yousef gamal el-din. here are the major stories driving headlines this week.ridget bridget's $70 a barrel for the first time in three years. $70 a barrelches for the first time in three years. ahead of the region's largest lender tells us he is assuming the standoff lasts forever. ae billionaire owner of dubai-based property giant tells us why he is eyeing london. first, iraq has joined the united arab emirates, qatar, and oman and calling for opaque and allies to stick with their agreement. that is despite recent price gains. the deal helped lift brent above $70 a barrel this week. concern.expressed bloomberg spoke to the head of the international energy agency and the omani energy minister and got more reaction. today, oil price is about $70. the global oil demand will billion --out 1.4 1.4 million barrels a day. a lot of new oil production is coming from the united states, from brazil, from africa, from canada. a lot of oil in the market. >> i think that's the point of socussion, because the focus far has been in the supply side. we often don't discuss the

i am yousef gamal el-din. do join me then.berg. ♪ ♪ >> coming up on "bloomberg best," the week and conversation from the world economic forum in davos leaders in business, economics, politics and finance share their insight and outlook on critical global issues. >> you have markets in global high but we know that these things do not go in a straight line. >> it feels stupid to own cash in this kind of environment. >> i think it is one of the big crimes that we do not talk about. >> high-profile guest address topics of high importance. >> it is important for the future of the city of london. >> we have to face our social

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i am yousef gamal el-din. headlines from the recent week. keep the cuts, opec and russia and says no early end to output curbs and signal readiness to extend the deal into 2019. we speak to the world's two most powerful energy ministers. the saudi aramco ipo is still ikely. keep calm and carry on. the economy minister and c.e.o. tell us why they're confident the nation can survive the gulf crisis. the week began with opec and russia saying they will maintain curbs through 2018 and ready to cooperate beyond that. we spoke exclusively to the saudi energy minister and his russian counterpart, alexander novak. >> we assume cooperation between our two countries is long-term, and regardless of whether in terms of the markets, market stabilization, or other areas. our cooperation is based on agreements we signed in china. over the past one and a half years we have been implementing this, we have shown a lot of success. we had a successful run. yousef: that was alexander novak peaking. why are they already talking bout 2019? >> the saudi oil ministe

i am yousef gamal el-din in dubai.nvestors are betting on an expansion in corporate earnings. asia up 8% this year. let me show you the broader market. let me give you a quick tour, asian equity session higher, led by the kospi. china down 1.2%. to theto your attention foreign exchange space, the yen the study after the boj clarified comments on friday. japan still getting its head around a stronger yen. big moves in the swiss franc sanctions are expected from the united states, and in aussie dollar retreating from iron with losses in ore. , a squeeze concern on the supply side driving price gains. and showtch the board you the energy trades with brent crude specifically, still the years aslose in three hedge funds increase their bullish bets to a record high. up. 10 year, we have marched , 2.68% currently. the gold trade mostly unchanged. stand out in emerging market has been dollar-lira. let's check in on first word headlines with debra mao. u.s. trade representative robert lighthizer hopes a deal can be done to save

i am yousef gamal el-din. the u.s. bond market coming back online.o asian equity session off a strong start, although a mixed action or. on thebal market bloomberg, the hang seng up 1.3% , some weakness with the aussie stocks. a bhp ratingsnd cut weighing heavily. broader session dominated by consumer staples and technology sectors offsetting a decline in materials. fluctuating, the dollar-yen one of the major moves in the key currency pairs. , down .4%.e speak relative stability in the u.s. dollar for the moment. ,t is hitting the base metals aluminum down 2.2%. also sink down .8%. and i will the board show you what is happening with brent crude. currently down. wti stronger, a diverging richer on that front. the u.s. tenure currently unchanged. we have the euro-dollar story. we will get into that shortly. s&p 500 futures higher. we do have citigroup expected to post fourth-quarter results before the fourth quarter. -- before the open. >> qatari stocks plunged the most in seven months after the uae said the nations jets intercepted to commercial pla

i'm yousef gamal el-din. do join me then.omberg. ♪ >> coming up on "bloomberg best," the stories that shaped the week in business around the world. big news for some big banks, it it is a big week for earning report. >> this is down 50%, now, that business is over 40% of earnings, that should only increase from here. >> another shutdown showdown gripped washington as budget deadlines loom, it feels like they have the economy on president trump. apple prepares to bring home overseas cash and announces plans to spread it around. >> this is 20,000 jobs. this is business from a

i am yousef gamal el-din in dubai.arkets, central normalize rates, questions about not on effects for emerging markets. rating says the balance between negative and positive outlooks on the top 20 emerging markets has markedly improved. with us again is our guest. the to build up on some of highlights and some of the bigger stories out of that report. late last year, you had concerns about credit growth in china. where does that currently sit? by theu been convinced authorities they are doing sufficient work to address those weaknesses? >> not let. we have lowered the rating on china. concernson the back of for financial stability down the boom, which credit if you look at it, it is the largest and financial history in absolute terms -- it is slowing down. they have been trying to slow it down. my hope and expectation has been after president xi jinping gets his new mandate as enthroned to a more powerful position that they would step up the measures. this balancing act between growth on the one side and stability on t

i'm yousef gamal el-din in dubai. by cap to christine hartman.oost from the luxury rebound in china. perfume raced ahead in the vmh.day season for lw lvmh said it's cautiously confident about this year despite geopolitical uncertainty. apologized foras -- talks abouto diesel engine fumes. monkeys inhaled -- reportedly watchingmissions while television cartoons. it said volkswagen rate the vehicles to have less harmful views, and is the latest in a emissions scandal. pershing square is said to have taken it past the stake in the 90's. the timing of the investment is unknown. last week, the $12 billion hedge fund fired 10 employees. the firm is trying to rebound from three years losses related to investments. and, the something new in town. kfc has picked the new kernel sanders for its latest marketing campaign. is the latest" mascot. that is your bloomberg business flash. yousef: thank you, christine. about blackrock ceo, larry fink. money in cashng until stock markets reach new highs. he said there's too much on financial market. erik schatzker,

i am yousef gamal el-din in dubai. u.s. markets close for mlk day.he asian session off to a strong start. the global map gives us the pulse. gains in the hang seng, up .6%. asx 200 up as well, .3%. on the foreign-exchange side, a move in the mexican peso off the back of positive whispers around ,he future outlook for nafta the yen rising to a high against the dollar. some of it on governor kuroda's comments, but also short covering from traders. interesting moves in commodities. the weaker dollar feeding into these trades. 1.2%, leading the complex higher, even after china data missed expectations. let's cross the board and let me show you other key asset classes. brent crude, a lot of commentary , still new highest close in three years. more opec members calling for cuts to be kept through the end of the year. story.gain weaker dollar -dollar is one spot where it is not feeding through. the gains friday. as we come back from the holiday, the earnings season kicking into higher gear. let's get you a preview of what will be coming up. we will speak li

i'm yousef gamal el-din. do join me then.♪ ♪ jonathan: from new york city, to our viewers worldwide, i'm jonathan ferro. with 30 minutes dedicated to fixed income, this is "real yield." ♪ jonathan: coming up, core inflation accelerates, two-year treasuries jump 2% for the first time since 2008. some of the world's most well-known investors say this might be it. the bull market in bonds is over. credit investors are not showing any nerves. junk bonds with the largest inflows in over a year. we begin with a big issue, a shakeup in the global bond market. >> this will be a jagged period, the first quarter. >>

i am yousef gamal el-din.hat a momentous two weeks we have had in the first of 2018 and bulls have been in charge again, consumer discretionary pushing up some of the industries. of a&p 500 up 7/10 percent, the eighth advance in nine sessions and the nasdaq showing strength. we saw a soft spot in some of the property stocks. the story.o year was we look into that trade. rosengren says that this does not indicate a recession, is that the case? we have quite a bit of weakness. a key scene for the markets going into a fresh week. they are at their lowest since september and basically dropping against all of the g10 peers. that is feeding into other key asset classes, euro-dollar up. the strongest in about three years at the news the angela merkel reached a preliminary agreement for a coalition government. cable come up 1.4 against the separate news flow here. and officials saying that they are agreeing to push for a soft brexit. that is helping cable to raise a ties against the dollar since june 2016, all the way

i'm yousef gamal el-din. do join me then.abigail: coming up on "bloomberg best," the stories that shaped the week in business around the world. a report from china roils the bond market that it may prove to be a passing storm. another automaker faces cheating claims. earning season kicks off with results from big banks. the ecb releases the latest of -- a set of minutes. sergio shares the latest insight on the global economy.

yousef gamal el-din joins us from to buy. t in terms of the report we got from the united states? yousef: a couple of things that struck a chord with the analysts we been speaking to, a temporary response to some of the severe weather conditions. the polar vortex as it were in the united states is reflected in the latest crude inventory data. looking at a drop of 4.9 million barrels last week. the api had suggested we get somewhere around 11.2 billion -- 11.2 million barrels. so a beat on that front. gasoline stockpiles were up for the night straight time. u.s. crude production was crude production decline 290,000 barrels last week, to the lowest since october 13. quite a lot of color in this report, whether to draw dan will continue once the weather conditions improve a little bit is a big question. anna: looking at the price of a , it started it made about whether the price rises are in the interest of producers. what is the deeper story there? it's nothing short of shocking when the oil price rises and you have producers co

according to a senior government official, we are going to talk about that next with yousef gamal el-dino joins us from dubai. what are the latest developments -- how many princes are still holed up in the gilded cage in the hotel? yousef: you hit the nail on the head. the key line being the vicinity of 100 billion dollars. first time we get a real figure as to how much they could recover from the corruption probe. i last spoke to the finance minister in december. he said it was too early to put out an actual number. roughly $100 billion, a sizable amount, if you consider what saudi arabia is currently going through in terms of trying to balance budget. they provided a bit more of a breakdown. 90 suspectsing at that have been released. you're looking at another 95 that are still at the risk, and with settlement proposals. the aim of the anticorruption committee is to wrap this up by the end of january. those that do not reach a deal will be referred to the prosecutor as well. we understand as well from the secretary-general, the attorney beeral, that payments will processed with a combin

for more, let's talk to bloomberg markets middle east anchor yousef gamal el-din.us the details of what we need to know here. the banks possibly winning those mandates would be a huge score for them. saudi aramco is the crown jewel of the saudi arabia and transformation story. the other key takeaway is possible valuations. people involved in conversations with the banks say some of the valuations stretch from one trillion to 1.5 trillion, which fits in an interesting sort of or interesting parts of the broader equation. we had heard some valuations of up to $2 trillion for that, and you are looking at $100 billion for the ipo. ultimately, it is a bit of a higher price than a lot of expect. we spoke to a lot of it has to do with the higher oil prices. brent crude is up 30% in the last six months. better to do this sooner rather than later. keep in mind the list we talked about is not final yet. this means there might be some truth to that. a lot of exchanges around the world vying for this crown jewel. i am more interested in the saga of mbs jailing a bunch of his c

." ♪ ♪ yousef: welcome to "best of bloomberg markets: middle east," i am yousef gamal el-din.opec and russia outputs no early end to curbs and signal readiness to extend the deal into 2019. we speak to the world's two most par 4 energy ministers. ipo is stillmco likely.

for more, yousef gamal el-din joins us from dubai. many signs of watching this story closely. give us the details of what's going on in saudi arabia. mentioned to shares of kingdom holding and as much as there are not a lot of analysts who cover this stuff, it's always the shockwaves that come from this. with the onset of the anticorruption crackdown in the first week of november, it really shook things up. the concern was this was a crackdown on political opponents rather than corruption. really continues to weigh on sentiment evaluations in saudi arabia. there is a lot more that can be unlocked if this anticorruption probe can be -- what we do know at this point is that the chairman of kingdom holdings will retain his position in the company. he will continue to hold onto ownership of that. but we don't have any more detail on that in terms of whether a settlement and what kind of financial settlement it will be reached. we don't know what the position of the prince is. he said it was all a misunderstanding while the government argu

i'm yousef gamal el-din. here are the major stories driving headlines this week.70 a barrel for the first time in three years, goldman admits it could outperform its forecast. head of the region's largest lender tells us he is assuming the standoff lasts forever. the billionaire owner of a dubai-based property giant tells

i am yousef gamal el-din. here are the major stories this week., opec and russia and says no early end to output curbs and signal readiness to extend the deal into 2019. we speak to the world's two most powerful energy ministers. the saudi aramco ipo is still likely. keep calm and carry on.

i'm yousef gamal el-din. here are the major stories driving headlines from the region this week.in riyadh. 11 princes are detained following a protest in the saudi capital. given the recent corruption crackdown, why did they so brazenly risk their freedom? chasing the foreign dollar. the head of saudi arabia market regulator runs us through the rule changes they are bringing in as the kingdom looks to spur forward investment. and look for

yousef gamal el-din joins us from to buy. -- from dubai. s this tell us about the latest thinking from a homage installment and how it fits into the greater plan? yousef: good morning. is thespeed you turn best way to describe the saudi royalty in terms of the state handouts. bear in mind, this also tells us a story not just about economic reform, but political consolidation, moving away from the traditional centers of power and making a bet on people. it is a familiar playbook, where you go in hard with the economic reforms, that you step back. we have seen this throughout 2017, a recurring theme for sure. over the course of the week, the grumbling of social media and state tv, saudi citizens not able to call for it. this is a cascade of changes, theprice hikes, then announcement that they will reinstate the annual bonuses. bear in mind, 2/3 of saudis working for the public sector is a hefty amount, and according to you could be, looking at a boost in terms of economic growth of up to 0.6% in 2018. anna: and what is the market reaction been

i am yousef gamal el-din in dubai.emember the handoff from the united states, gains for a fifth straight session. the european session was strong. we saw the biggest weekly advance since april. we are seeing risk assets continuing with strength into 2018. outlook from companies will dictate the next move for indices. the u.s. dollar weaker after pretty much snapping a set of declines. you're looking at again story standing out. the yen up the most in a week after boj reduced purchases of superlong bonds. -yen slide is looking like a risk aversion team. s&p futures a little retreat. zinc futures outcome of the story around supply side risks, the squeeze around those stockpiles. let's look at other key risk assets. we have a story on brent crude. just above $68 a barrel, up 1%. u.s. inventories have decline for an eighth week. u.s. 10 year study at 2.49%. this is a story of treasuries giving back and gains. gold holding steady. euro-dollar with political risks front and center in europe. you're looking at declines of , t

across the emirates, this is "bloomberg markets: middle east," i am yousef gamal el-din. u.s.overnment shutdown did not last long, but it raises more fundamental issues. entingt is not doing is d sentiment in asian equities. assignment to the bloomberg. equity indices across the board for the most part are higher. and asx 200 of two quarters 1%, also big moves in the nikkei, up. too big stocks to watch out for, macau, and onwynn the other side, lg electronics underperforming after donald trump's tariffs. we have a u.s. dollar that is relatively unchanged. this is still close to its lowest level since january 2015. dollar-yen is one to watch out for. it moved 3/10 of 1% lower after the boj statement. you look at one day volatility, its highest since september. a bit of a correction in the space, there are concerns there is a lot of iron ore supply and it is overdone. across the board, let's see what is happening with wti, and climbed to $64 per barrel since opec and russia said they will not be any changes anytime soon. gold higher, a fifth of 1%. u.s. 10 year relatively and th

he spoke exclusively to bloomberg's yousef --yousef gamal el-din.ne project, we sold more than 50%. we are looking at london as a future market. i see istanbul as an interesting market. it has softened a lot in the last couple years. if you enter a market when it is soft, you buy assets at a peak. yousef: brexit has not turned you off at all? >> no, i see a big opportunity. other weeks ago, clear signs of oversupply? would you agree with the oversupply story, or that the dubai market needs to do more? >> i think we have one of the most amazing, visionary leaders in dubai. city to theg the best of the best. i think dubai has huge potential. tourism is growing. retail is growing. some of the sectors like retail is not growing like before in double digits. get 15 million in tourism going to 20 million. i am very positive. i don't see any issue there. yousef: in terms of the success story, would you be willing to sell a bit of your steak in the company? e in the company? >> yes, i don't mind selling at the right time. yousef: one of the kearns i heard w

guy: that was qatar national bank's ceo speaking to yousef gamal el-din.the stock of the hour. i always have a strange affinity for french supermarkets. you can see the right-hand panel, it is trading up really strongly. jeffries is saying the revenue line is better. it is may looking to offload its china business. trading really strongly. matt: i will point out it is a big move. i was thinking in pity on would be the stock of the hour, but our's move is a good stock to watch. we are going to radio. surveillance is up next. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. world most of valuable company says that it will pay a $38 billion tax bill. the president praises the move

manus: thank you, yousef gamal el-din in dubai.ck word of thanks to even riley. -- to david riley. got innately, carillion the way of our extended conversation. up next, what can we expect from the federal reserve in global markets? carillion has declared itself out of the running. we talk more. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. manus: the u.k. government contracted success to enter into compulsory liquidation. the recovery rally rose on. global stocks hit another record as oil approaches its three-year high. off road to riches. the ceo says the carmaker will profit in five years, pushing the jeep brand. welcome to "daybreak." it is 8:00

exclusiveoke in interview with yousef gamal el-din. >> there is no change in our strategy.nue to look to become a leading bank by 2020. hong kong is looking to establish an operation there. we already open india. singapore becoming are asian of, offering all the products and services and expanding into islamic banking. in 2020. focused no variation from the strategy. diversification is one of the issues is very important for us. what has compelled us to grow throughout the years and we will continue with diversification. >> would you say that the longer the strikes on, the more difficult it is for lenders like you to deal with? >> we are adjusting to the new norms. asare operating our business if this crisis will continue forever. us. business as usual for gone.ock is already we are operating our risk growth,nt, our funding, as of this crisis we will continue forever. the qatar national bank ceo. manus: peter can sell it is with us this morning -- peter kinsella is with us is morning. what happens next in emerging markets? talked about inflation risk in emerging markets. it

he spoke exclusively to bloomberg's yousef gamal el-din. >> london is interesting.ght time to acquire land now? we already have one project. london as ag at future long-term market. tindall as an interesting market. it has softened quite a lot. in my view, you enter market when it is soft. you buy the assets at the peak. >> so brexit hasn't turned you off at all? >> on the contrary. big opportunity. >> in terms of the domestic market in dubai, i was speaking to -- and he was very vocal about the dubai government doing are to address what he says clear signs of oversupply. would you agree with either the oversupply story or that the dubai government needs to do more in the market? >> i think we have one of the most amazing visionary leaders in dubai. he has moved the city from a small village to where it is today. i think dubai has huge potential. tournament -- tourism is growing. retail is growing. some sectors are not growing like before, but that is a mature market. tourism5 million growing to 20 million, and the government has a vision, so i'm very positive. >> i

gamal el-din joins us now from dubai. good morning. give us details on the state. has everyone been released? yousef: it is almost open for business.winding things down. alwaleed has been released. there are uncertainty and questions that are yet the question -- yet to be answered. we understand he does get to maintain control and kingdom holdings. we are seeing the stock sold -- stocks soar. still casting is a shadow over saudi arabia. many see the anticorruption probe is more about political consolidation. when needed to be clarified, what needs to happen was more transparency. it is seen as a net positive. francine. francine: the iranians have also been very vocal about concerns that oil prices are just rising too high. i be getting any more comments -- are we getting anymore comments? yousef: it has been a busy week we had the iranian oil minister come out and say that $60 a barrel is a good price. the rest of opec and non-opec, it was clear they are not seeing any change of policy. it is too soon to do anything. are worried about the higher oil price is going to feed into able in the united states. that is the story that is be