bank --eo of doha always candid. thank you for that.ing up, iran signed a landmark oil contract. details are just ahead. angie: it is 3:30 a.m. in sydney. the australian benchmark currently 0.25% down. rba decisionthe gave us. top stories on bloomberg markets middle east. it gives kids stocks jumped the most in two months as investors bet on an imminent devaluation of the pound. it gained 3.2%. speculation mounted over the weekend that a cut for the egyptian pound could come at any time after the central bank governor met with the president on saturday. youssef: saudi stocks have sunk deeper in what is shaping as their worst year since the financial crisis. gainsngdoms benchmark declined more than 2% on monday extending the worst selloff in the six gulf nations. it lost about $30 billion in value since the cuts to government salaries and bonuses were announced last week. angie: the cleveland fed president says the u.s. economy is ripe for a rate hike and november remains on the agenda despite the election. mester wanted to raise rates a

sarah: let's pull in our visiting fellow at the brookings institute in doha.e're hearing that president putin has refused the request. we hear about rebel offensive on the city but what do you make of that? >> i think it relates certainly to russia's strategic calculus nests and there has been a lot of pressure on the russians this past week. many in the international community house attributed to russia and its fighter jets. i don't think it represents a significant shift in russian strategy in syria. it is rather a question of what happens with this new rebel offensive and waiting for things to cool down. russia is still heavily invested in assuring the assad regime takes place. this current development will not change anything. sarah: is it fair to say that putin is refusing to resume his airstrikes because of that humanitarian outcry? >> i don't think the atrocities that are taking place in syria or allegations have a bearing on russia's actions and strategy in syria. there is a much bigger issue at play here in assuring the assad regime stays in place and

the chief executive officer of doha bank, that is what he said.y should have done earlier, they should've been less aggressive in their government spending cutbacks, and that might have given the economy more breathing room. mohammed: i think the government might have, like, kind of came in late to the debt market, but i do not think it missed the boat because we still have about a couple of years until we get familiar with the global debt market. either way, he was right. about shifting the economic policies away from socialist to a capitalist, which is what we see with subsidies and all. and yeah. yousef: you would have to be tactical have you going to saudi stocks, but one very interesting story has been what is happening with telcos and the changing regulation, how that is going to affect some of the telco players over there, and we saw stocks soaring throughout this week. what is the story there? how do you go from here? >> i think this is one of the leadership involvement and engagement in the economy, which know, aligning the sector with th

see him lo talking to them about ma this movie they are old-time buddiesy a at that they had a lt to doha with how they got cast. ended nauseous and the show. i was at suspicious of i likelie their life they seem happy. i think we saw brad pitt one little for the third createcre dynamic. we obviously really enjoyed working together. then we have our own thing going on.h who may loved and enjoyed paris runway. >> can you imagine what it's to northeast ohio on saturday tickets are on sale right now good luck.od still to come we are headed to their largest candy store just i forgot to point that out. we are going to be geared up it i was glad. it benefits that there weather report.at and that the great thing about is this a pretty tries to steal the tickets to flurry disables as though used to them. prices are very reasonable. $4,000 and i know you and daveso wanted to go all out for me this year you can order it if youf y order it now will be here time and all give you guys a big con.ll that is the way to go. i was wondering what if itit starts going into your neighborhood. it will stop whe

pat mccrory, north carolina: we doha we speak and we have a lot of helicopters and boats that have been deployed that are at this point in time rescuing them. the white house said today president obama has directed all necessary federal resources...to the places it's needed most. adlib let's go to chief meteorologist bryan scofield and '13 first alert weather.' .tonight...partly cloudy. lows 65 to 68 on the west side side. south winds 10 to 15 mph. .tuesday...sunny. highs 84 to 87 on the west side of the valley... 87 to 91 on the east side. south winds up to 10 mph shifting to .tuesday night...mostly clear. lows 60 to 64 on the west side of the valley...61 to 65 on the east side. southwest winds 10 to 15 mph midnight. .wednesday...mostly sunny. highs 82 to 85 on the west side of the valley...84 to 88 on the east side. west winds up to 10 mph in the morning becoming light. sunday...partly cloudy and gusty at times. lows 63 to 66. here at 13 action news we want all kids in las vegas to be able to stay warm this winter so our annual coats for kids drive is underway. and once again this yea

just like that just last week, we had the delhomme -- doha ceo saying he missed the boat of this firstonal bond sale. what has changed in the interim? we seem to have a growing sense of optimism around this opec cut that helped push the price of oil to above $53 a barrel for the first time in many. we also have a beneficial macro environment. we have seen the global search for yields continue to pay. that is bullish for emerging markets. we also have political risk. hillary clinton doing better in the presidential polls could assure investors in the bond deal that some of the political risks we have been talking about our fading away slowly. he -- getting saudi arabia's hitting a sweet spot with the sale. supportas much as these the bond issues, they're still a bunch of hurdles for the pricing very give us a sense for how investors are going to respond. saudi arabia and its representatives will be meeting with investors over the course of the next few days and weeks. i have been reading the perspectives for the bond deal. it is 220 pages long. if you look at the risk factor, as you mig

discussed chairman the partnership during a visit to doha two diverse by the oil-based economy.eed to and the saudis attract $30 billion more to hit the target. saudi arabia is trying to diversify its energy independent economy in the biggest ever bond sale by an emerging-market nation. it sold 5, 10, and 30 year securities. entrythe saudis' first into the bond market. global news powered by more than 2600 journalists and analysts in 120 countries. this is bloomberg. koreanthe sprawling group is back in the headlines with allegations of tax evasion and breach of trust. investors may now be seeing light of the end of the tunnel. peter, how serious are these charges? going the family, it is to be a huge setback for them. it is unusual for these indictments to be levied against an entire family. it is usually the chairman of a company or top ranking official. this is all five family members at the top of the conglomerate. the scope of the indictments are significant. they range from tax evasion 80 million,o nearly $ as well as embezzlement charges totaling up to $160 million. shery

that was the issue in april in doha which scuttled that deal. in terms of going forward and making sure people respect those quotas, cheating is always a big issue. when they did have quotas, that was a main issue. this deal, we don't see any enforcement mechanism in place yet, how they would monitor. that is another hurdle. angie: anthony, what is the timeline for opec to firm up its decision? >> we've got a couple deadlines coming up. the soonest is in october. russia had been in talks to try to join in the cuts as well. we will see if that is something that comes out of russia joining in these cuts. and of course with that the november 30 opec meeting, which is where they would want to make a decision and formalize these quotas. anything can happen between now and then. we could have extraordinary meanings or other discussions. at the moment, we've got those two deadlines. the october working group and the november 30 opec meeting coming up, where we would like to see that deal finalized and put into place. angie: that is our bloomberg news e

yousef: the chief of the doha has says that saudi arabia not been as aggressive as it should be in cuttingk on spending and you agree? >> i think we will have to wait city announcements regarding the bond issue. they have ways of financing them as well, talking about privatization's as well. is an ongoing systematic process around a variety of reforms, and the bond issue is part of that. yousef: you're sticking around. we'll have more with tim fox in a moment. we will get his take on the wider global economy, with new ,orecast from the world bank and continuing scrutiny of monetary policy. we will get you the full, station. this is bloomberg. ♪\ >> indeed, i would prefer that at the time we make our next move, fomc communications would also indicate that with increases will depend on things such as inflation indicators. i believe this would help assure the public that the committee seeking economic conditions to support attaining our 2% inflation target sustainably, symmetrically, and sooner, rather than later. >> i think one of the challenges that the fed has had, and which he has underst

. >> she mass dohas done that and points lower. >> agreed.ie sanders helps, and barack obama certainly helps. one thing about the coalition, as you set up the story that's really important. when barack obama ran, he changed what we knew about the democratic electorate. it was somewhat proprietary for him, but it sort of changed the electorate in many different ways that i think the party is -- has tried to work with to sort of bring those folks into the actual party infrastructure. it was the first time we saw young people were sort of bringing their parents and grandparents to vote, where before, it was the other way around. what bernie sanders and donald trump have done for their respective parties is bring out voters that we also have not really seen before. so the electorate is very different, and i think hillary clinton is actually speaking to that, but i do think that obama and bernie sanders will be substantially helpful. >> and michelle obama. climate change, huge concern for millennials, we know that were the polling. the most re-twe

we were not there when we met in delhomme -- in doha. that is the uae oil minister. $40 a barrel, not sustainable. ultimately, what most experts have been saying, the ones i have been speaking to on the ground, is that most of the cuts are likely to come not from saudi arabia, but from the hole. -- the whole. are makingg they progress ahead of the all-important meeting later in vienna, when we expect the final details. it will happen. they will have something to be able to show to the public in november. mark: great job. thanks for joining us. let's get more on my guest, a portfolio manager. and the chief european economist at bank of america merrill lynch. i have been furiously bringing up charts. i have to do it. this is a fantastic chart, essentially showing us how oil is driving inflation expectations. this is the oil price, the blue line, versus the u.s. break even , the difference between the 10 year and inflation. inflation bonds. see, oil is leading inflation expectations. does that tell us the outlook for the u.s. bond market? i

it was discussed in several occasions, including when we were trying to launch the doha round, this was a big issue for discussion. at that time it was very polemic, very controversial, it did not enter the negotiations themselves, but we are constantly in touch with organizations that have a more direct role in the labor standards conversation, and constantly in touch with the director general, we woring together, the economists work together, particularly trying to understand the effect between-- the relationship between trade and labor. we try to ensure with studies and data that trade does not lead to a race to the bottom in terms of labor standards in developing countries, for example. but we're not directly involved in that conversation. >> switching back to china for a second. how serious do you believe china's military actions in the south china sea are on international trade in that region? >> that is a very indirect relationship between the two. trade and that. look, i think trade in general is -- flourishes in stable economic environments, in stable political environments, so

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it was discussed in several occasions including when we were trying to launch the doha round. this was a discussion. at that time it was very polemic, very controversial. it did not enter the negotiations themselves. we are constantly in touch with organizations that do have a more direct role in the labor standards conversation. we are in touch with the director general. the economists worked together trying to understand the effects the relationship between trade and labor. we try to ensure with studies notdata that trade does lead to a race to the bottom in terms of labor standards in developing countries, for example. we are not directly involved in that conversation. china,witching back to how serious do you believe china's military actions in the south china sea are on international trade in that region? mr. azevedo: that is a very indirect relationship between the two, trade in that. i think trade in general in stable economic environments. in stable political environments. the more predictable, the more economic environment and political environment in a region, in a c

doha >> well, first, let me say, i appreciated the you're hired, you're fired thing, senator, your running mate uses a lot of pre-done lines. what you all just heard out there is more taxes, in more spending, more deficits, more debt, more government, and if you think that's all working, then, you look at the other side of the table. is, the policies of this administration, which hillary clinton and senator kaine want to continue, have run this economy a ditch -- >> 15 million new jobs? >> governor, my question was -- >> there are millions more people living in poverty today than the day barack obama with hillary clinton at his side -- >> and the poverty level, and the median income improved dramatically between 2014 and 2015. >> honestly, senator, you can roll out the numbers and the sunny side, but i got to tell you, people in different. people in ft. wayne, indiana, know different. the answer to this economy is not more taxes. >> it's not the give away tax relief to the folks at the top. i'm interesting if he'll defend his running mate not paying taxes. >> the question is whether it see

it's been stalled since the failure of the doha round. i can't -- a few more positive forces in the global economy. the world's fifth biggest economy. taking back control. taking back control. not just of our democracy. taking back control of our borders and of our tariff schedules, in geneva so that we can galvanize free trade, break the logjam and become the new global champions and do free trade deals around the world that will continue the process of lifting billions of people out of poverty. that is why the world needs global britain. and our values more than ever. a cap painer -- a campaigner. a campaigner for what we believe in. a catalyst for change and reform and economic and political freedom. in a world that is losing confidence in those values. of course there are some people who say we are too small, too feeble, too geopolitically reduced to have that kind of influence and i think of the problematically labor party and they want to keep our nuclear submarines sending them to sea without any nukes aboard so the whole nation is

in the last debate he complimented the dubai, qatar, doha airport. he is traveling there, doing business there, now he's saying anything to get elected including trashing his arab business partners indirectly. >> i think trump is a con artist. i don't know what he actually believes, but i think he's a pseudo populist. i think there's a weird alex jones tide that runs through him. maybe he's really a xenophobe. >> what was your other -- >> is there a light at the end of the tunnel? >> i think there is a light at the end of the tunnel, it's what bernie sanders was able to galvanize, people who were -- a whole generation's politics have been shaped by bernie sanders. that's huge. he's -- people 30 and under view -- that's going to stick with them. they'll have those politics for the rest of their lives. that's how it works. even pollsters are saying this whole generation shifted dramatically. i know you won't be excited about this, socialism is an exciting concept to younger people. that's huge. we didn't grow up during the cold war ear ra. i think soci

what happened in doha and what happened in algiers? completely separate countries getting together and coming to an agreement. why should we believe the individuals who got together in algiers can do something when the very same people got together in delhi and could not? jeff: i think the big difference between april and late october is the financial conditions within these countries. ityou look at saudi arabia, indicates a much more dire situation than april. that is what i would argue is motivating the rhetoric with trying to come up with a deal. thinking about the economics today versus april, nothing has changed. the strategy of pursuing market shares still would be the dominant strategy rather than try to run a cartel, because it does not change the fact that the shale producer in the u.s. will respond to higher prices. you are seeing it in the drilling activity in the permian basin so why would argue that economic motivations have not changed. alix: something that has changed is russia, at first coming out and saying they are in

people think, well, gosh, you're cher, you probably doha practice, it just comes out. >> the older you are, the harder it is. >> if you want to know what's on cher's mind, look no further than her twitter feed, where she pulls no punches, especially when it comes to her feelings about donald trump. >> i feel like i'm yelling "fire" and no one is listening. i care about the country and i know the people that are following trump, they care about the country too. >> you see different realities? >> yeah. i just do. >> you have been talking to kids who are first-time voters, millenials, and you are imparting like it's really important that you vote. >> yeah. >> and that it's important you vote for hillary. >> yeah. she's done some things that i'm sure she wished she hadn't done and she's done things i can't back every play, but i think that if she has the chance to be a great president, she will rise to that occasion. >> cher knows all about rising whether it's sending cases of clean drinking water to residents in flint, michigan, or providing safer helmets to american troops overseas, cher

i wonder whether the real agreement did not happen in algiers but in doha. production and then at the end of the year we will have an agreement with freezing output at all-time highs. david: talk up the price as much as you can. alix: was ok, the end history .anager -- energy minister ok an agreement of an agreement and you have to wait for the implementation and according to jeff currie you have to wait potentially until next year. we take you from crude to post-brexit environments. what does it mean when the u.k. finalizes its exit from the eu? theresa may in the house of commons, a subtle shift from the prime minister in a subtle shift in the cable market. from new york, this is bloomberg. ♪ jonathan: from new york city, this is bloomberg. here is the tone of the market, future slightly negative, down 11 on the dow, down not even a single point on the fx market. sterling strength after the biggest four-day drop on the cable rate since june. yields grinding higher once again, up two basis points as we start to approach 180. stopping --a may is softening he

right now you have plenty of time it to doha holidays. also be flexible on your dates. >> some people say it's a good idea -- sometimes my family and i do this when we go away, sometimes we like to go away for christmas. we'll actually fly the morning of christmas eve. when you pick special dates like that do you usually get a better rate? >> you'll actually save more flying on christmas day than you will christmas eve. if you are willing to be flexible, you'll see quite a bit of savings traveling on the and we found great fares on monday, december 19th. >> the magic day. so if you want the caribbean feel but maybe aren't up for the caribbean, what is a cool islandy cool destination you guys like? >> everyone seems to be headed to hawaii this year. christmas week is almost completely sold out. if that's the direction you want to go, go the two weeks prior to christmas because you'll save 50%, 60% on your rate and they have availability. >> hawaii's number one. what about cabo if you want to go somewhere else? >> we love cabo is zika-free