is regarding the gcc and the future of the gcc, will there be a split between the gcc, will qatar and that leaving regarding all of this? >> thank you for your question. , qatar will continue to be an active member of the gcc. qatar believe the gcc is a very important entity in this region. it plays a very important role in the stabilizing of that region. see any harm coming to the unity of the gcc. >> good evening, ambassador. my name is jim moran. we do appreciate your coming to for a veryight clear, articulate, and candid discussion of an issue that is probably on a lot of people's minds who had never heard of qatar, but given the $18 million of attack ads that flood the tv stations, we cannot help but be aware of it. restraint inar's not responding in kind. i should also say, on this issue, i can respond for the board of the world affairs council. we do not take sides in these conflicts. traditionally. but we will always stand on the side of the empowerment of women, greater freedom of expression and opting for mediation over conflict. we appreciate that you have prioritized these

then in 2013, which was when i arrived, i was responsible for the gcc minus saudis. and with the deputy in abu dhabi, when i left there was an attache placed in doha with responsibility for qatar and kuwait, which is something i pushed for, you know, since a lot of the value of having someone forward deployed is the ability to be available and follow up. and it was, yeah, a lot of travel over a couple of years, even though those are short flights. the one to doha was because you land technically before you take off coming from abu dhabi. it is a 45-minute flight. nonetheless, the value in having someone there a lot of times is the ability to be available and to develop, you know, rapport with the counterpart and to the conference on technical issues. i would say throughout the gulf we've had very good relationships with our counterpart in finance ministries and in central banks. again, really connect on those technical levels. the attaches work on policy matters. they work on sanctions implement ak implementation, promoting best practices and standards such as the fa

my question is regarding the gcc. will there be a split between the gcc, or will qatar does end up leaving the gcc regarding all caps -- just end up leaving the gcc regarding all this? mr. al-thani: qatar continue to be an active member of the gcc. believes the gcc is a very important entity in that region. it plays a very important role in the stabilizing of that region. threat not see any coming to the unity of the gcc. good evening, ambassador. my name is jim moran. todo appreciate you coming join us tonight for a very clear, articulate, and candid iscussion of an issue that probably on a lot of people's minds who have never heard of qatar, but given the $18 million of attack ads that flood the tv station, we cannot help but be aware that, and we admire qatar's restraint in not responding in kind. i should also say, on this issue, i can respond for the board of the world affairs council. we do not take sides in these traditionally, but we will always stand on the side of the empowerment of women, ,reater freedom of

are we at the edge of a cliff of a another set of sanctions, measures from the gcc?is really on the table? bahrain is firmly in the saudi camp. that in trenches it's a lying spirit -- in trenches it's alliance. oman and quake did not really take part in the decision to isolate qatar. it remains to be seen whether other members will help them if they are in trouble. we are not going to escalate significantly more, they are said we will have a measure here or there. they have had nine individuals or organizations to the list .hey want qatar to prosecute interestingly, when we spoke to analyst a couple weeks ago, they said we don't see additional economic sanctions that do not involve self harm on both sides. if you are saudi arabia and you ,o to international companies it can hurt your standing. ultimately, they'd denied intending to do that. and just in question. people don't see the scope for significant escalation that doesn't involve self harm. yousef: shooting themselves in the foot. let's get back into the .onversation with mazen the price being paid for the cris

are seeing the rift in the gcc?hank you. mr. cohen: i think the answer is no and no. much worset that than kuwait. i think it is markedly worse but others in the gulf, kuwait, itar and -- what is in burlington golf is not fundamentally about terrorist financing. is not is in the gulf fundamentally about terrorist financing. it is not qatar and kuwait. it is these support coming out ies by groups that challenge the stability of the governing entities in the uae and saudi and bahrain and egypt. be sure, ao legitimate concern with terrorist financing in qatar, and i am not saying it is pretext, but it is not the full text of what is going on in the gulf right now. thank you, david. we will get a microphone to you. >> so i wanted to ask about another dimension of the gulf , which is kidnapping for ransom, something which i think all of you have worked on, but, david, you have been very public about. i understand there is a report under the state authorization ,ct being produced for congress which would be a public repor

turkey is a friendly country to the gcc.ll be much different if they're asking for iranian troops wish they would never do. it is not quite clear if that demand is driving them -- a further wedge between turkey and saudi arabia and the uae area >> what is the fault of the u.s.? we did see comments from various officials last week, including republican senator bob corker who said he was going to try to saudiu.s. arms sales to arabia if no answer was raised. theentire gcc rests under security umbrella and they maintain close security ties with all countries. they have their largest airbase and they are conducting operations today and everyday against isis from that airbase. at the same time, the saudi's are the largest country in the gcc and the uae as well. they have troops everywhere in that region. the u.s. wants to balance all interests and, as close to possible -- as possible to solving this crisis. there are three countries that are all partners of the united states and its ongoing fight against isis. it was to keep the

and that's on the question of how important it is to present a unified gcc, by and large with some very minor exceptions, all of the efforts that we undertook were bilateral, with the saudis, with with the bahrainis and the qataris. the sharing of financial information to try to identify who the terrorist financers, they're exclusively bilateral. the only exception in my recollection is we made some efforts to enlist the saudis to work with us in sort of a trilateral fashion, on a couple of occasions where we would be in saudi, speaking with the folks who were most important in the interior ministry there, on the terrorist financing issue, to try to get them to essentially to put pressure with us on the qataris and the kuwaitis. that did not work so well, not to put too fine a point on it. and i think it was for a variety of reasons, but working in a trilateral fashion and working in the gcc more broadly was not something that we really tried to pursue. so i -- so the current situation in the gulf right now where you see i think a real potential for the gcc to splinter and for qatar to

qatar will continue to be an active member of the gcc. believe the gcc is a very important entity in this region. qatar's restraint in not responding in kind. i can respond for the world board affairs council, we do not take sides in these conflicts traditionally but we will always stand on the side of the empowerment of women, greater anddom of expression mediation over conflict. we appreciate that you have prioritized these issues. one of the things that have been raised by people attacking qatar is the allegation that the money that you are putting into the -- you are funding hamas because of the money you're putting into gaza reconstruction. i know that hamas is the only elected government in the strip, but is there not cooperation with the israeli government, doesn't that money have to go through and be coordinated in to theaeli government invested in the reconstruction i think there's some misunderstanding of the role that qatar has played. >> just going back to the ads that are running against qatar, someone told me no publicity is

we could put some meat on those bones, that's a gcc-wide effort. we should be acting and demanding participation from all the gcc countries. these are problems happening within all of them. even if qatar and kuwait are the biggest problems right now. >> thank you, madam chair. there's a real battle in the world going on stability and instability. criminals participating in murder and extortion and kidnapping and trying to promote extremism and ideology. it's individuals as you're pointing out that we need to target. thank you. >> thank you, sir. >> now we turn to mr. issa of california. >> thank you, madam chair. >> just for the record briefly, mr. shanzleer, last time were you in the administration? >> ten years ago. bush, right? >> leavitt, last time? >> bush. >> mr. goldenberg? state department, when? >> 2014. >> okay so very recently, all facts considered. so all of you have been in a position that this committee oversees, we actually don't oversee qatar, we don't oversee kuwait, we oversee the places you were. so i'm going to tell awe story, i

treasuries for gcc bonds tightening. hedge funds have been fleeing the lira, the rent.he s&p gcc recasts what has been happening. bright green picture overall, gains of 8/10 of 1%. saudi stocks performing well. health care gains as well, up 1.8%. earnings out from extra and saudi arabia gives a flavor about how consumers are doing. 1.2%.er discretionary of real estate relatively a weak spot in all of this. let's check in on the first world headlines from around the world. hasd: another fed official offered evidence that we can expect at least one more u.s. rate rise this year. -- forecasts of another rate hike a reasonable. -- are reasonable. for going muche more gradually in raising interest rates were holding off on doing that for a while. i am not overly concerned about that because in the u.s., i do that the economy is doing really well based on the latest employment reports. continually -- clearly the economy is strong. david: saudi aramco is set to invest maintain capacity in renewed gas research. the ceo held a conference in istanbul is increasingly by a recent d

also, gcc yields unchanged. dollar -- contested regulations for the mining industry also helping. we are two hours away from the opening of the emirates market .nd abu dhabi let's get a recap of which companies stood out. member rank returns. you can see the last five trading days, take a look. also qatar national bank up. bloomberg's interview with the ceo helped feed into some of that. also the materials box under pressure. we will get more into the key scenes. let's check on for short headlines around the world. >> good morning.

. >> can you talk about the gcc?entioned iran as it relates to originally iran, iraq, and the war, and how that has developed in the gulf. >> the gcc was founded in the 1980's at the behest of the united states in the aftermath of the iranian revolution. this was a way in which the united states could coordinate security in the region. most of the security coordination has been at the bilateral level. but it gave a structure for the united states to work with all of these different countries. it has been a difficult group. they have not been willing to coordinate security amongst themselves until quite recently. they have preferred to work bilaterally with the united states. there was a level of coordination and a way for the united states and british and other allies to work with the gulf as a whole. recently, the saudis, the bahrainis started coordinate more on the military front. you see that in their mission in yemen which has not gone very well, but nevertheless they point to as a maturation of the gcc and willi

ultimately, it was not much of a change for the broader s&p, gcc meeting -- gcc index.atively unchanged all week. qatar still showing some signs of strength and signs of life. stocks are made the worst performers this year. >> let's check in on the first word headlines. qatar's amir has broken his silence over the gulf dispute, saying they are open to dialogue with the saudi led alliance if their sovereignty is respected. qatar's nader's -- they are saying that qatar's neighbors have violated international law by trying to isolate them. dialogue on orto all of the pending issues, not only for the benefit of the peoples and governments but to spare our region of the pointless efforts to our region. after address came hours amending -- it was said that the amending of counterterrorism laws was a positive thing. the imf says saudi arabia's economy will stall this year with" 20 -- with the gross close to zero. 0.4% to 0.1%, citing opec production cuts. welcomes saudi arabia's reforms, saying that would help narrow the fiscal deficit in coming years. is first word news. this

they are held within gcc.k kind of isolates qatar and the overall buying and selling of the qatar bonds in other gcc countries becomes limited, that will continue to have an impact on the bonds as well. on one hand, you have this fickle international investor, but also local support. it may waiver. and i guess until this whole situation results, i think pressure on the bonds will continue. now, i do not think anybody is expecting it to escalate to any kind of military conflict, but can it warrant anymore sanctions or create a little bit more isolation? that is yet to be seen. i think the pressure will continue until the situation results. angie: to your point, we do see negative risk and it is causing a spread on the short-term debt, causing it to really widen. do you think it is also that chase for yield? anita: yes, but that theory applies to the bonds. even more than the qatar bonds. we have not seen the fall in those sovereign bonds as we've seen in qatar. so it is obviously the bulk of the negative impact

that's gcc wide effort. and we should be acting and demanding participation from all the gcc countries because these are problems happening within all of them even if qatar and kuwait are the biggest problems. >> thank you madam chair. there is a real battle in the world going on between stability and instability it's not necessarily ideologies. it's criminals and participating and triegt to promote extremism ideology. i want not a group. it's individuals as you're pointing out we need to target. thank you. >> thank you, sir. >> now we turn to mr. icea of california. >> thank you madam chair. just for the record briefly mr. chancesler last time you were in the administration. >> ten years ago. >> ten years ago bush, right, 11 it last time. >> bush. >> mr. golden berg, state department when. >> 2014. >> okay. still very recently all facts considered. so you will a of you have been in a position that this committee oversees. we actually don't oversea qatar. we don't oversea kuwait. we oversee the places you we

that might throw some interesting dynamics vis-a-vis the rest of the gcc.n terms of where we are, we have put up a chart on the bloomberg. your emerging markets index. that rally point, we talked about it several times before. the key point is the decline of global trade leading indicator. some headwinds for metadata. let's put the trade story aside for a second and go to geopolitics. leaders aren some pointing to. they have been able to secure deals when it comes to syria, for example. those are expected to come into effect. how will that change the course of the syrian conflict? what are the wider implications for the region? jean-paul: the optimist in me would hope that would be quite positive for syria, but this is a crisis that has been going on 2011. geopolitics, it is just the cost of doing business in the middle east, and not just syria, it is libya, iran and qatar now, as well. i think investors with exposure to the middle east are custom to -- are accustomed to geopolitical risk. we just hope for the best. tracy: we've seen cease-fire agreements a

in that region and plays an important role, so i don't see any outcome to the gcc. >> please join us tonight for an articulate and candid discussion of the issue that's in a lot of people's minds but given the 18 million of attack ads but we are aware of and admire the restraint and not responding in kind. we don't take sides of the conflict is traditionally. we always stand on the side of the empowerment of women with greater freedom of expression. the fact that you have prioritized those issues, one of the things that have been raised by people attacking qatar is the allegation that the money that you are putting into the reconstruction i know that hamas is the only elected government in the strip, but is there not cooperation with the israeli government, doesn't have money to go through and be coordinated in the government to the invested in the reconstruction i think there's some misunderstanding of the role that they've played. >> just going back to the ads that are running against qatar, no publicity is bad publicity. >> they are wrong. after 30 years in politics, that's not tr

for them, a united gcc is more important than a dis-united gcc. the problem with the four countries that have imposed these sanctions is that they escalated to quickly and too much -- they escalated too quickly and too much. they cannot really increase the pressure without going to war, and that is the strategic dilemma they are in. they cannot really further increase pressure and at the same time cannot be seen as backing down. qatar seems to be more resilient, able to deal with it better than they initially thought. >> thank you for joining us from king's college in london. we appreciate your insights. it is time to talk he mobility -- e-mobility. >> that's right. i have two announcements that raise eyebrows in the automotive world. german carmaker daimler says it will build car batteries in china with both sides coughing up 650 billion euros. that as volvo announced the end of the combustion engine starting as early as 2019. new models will be either electric or hybrid. >> the combustion engine's days are numbered, at least at volvo. step by st

at 18 months and above we forecast on the top ten key islamic finance countries, which, as i said, gcc plus four. we saw up to april, end of april with thorthor -- with the issuae growth has been mimicking 2016 we have seen ramadan, the summer holiday which tends to be less active in the gcc. and with this geopolitical unteu uncertainty i think the activity will be impacted if you look at the needs of the sovereigns, the banks, and the institutions, to raise funds in the operating environment they're in, because of lower oil prices, diversification of funding, i think the trend of issuances is something that's there at least to stay for the medium term. and all the governments are putting it as part of their plans. you mentioned lower oil prices it's breasti iteresting to see i exporters have had a reliance on international bond issuance is that becoming more and more important as they need international funding? >> definitely. if you look at the countries like saudi arabia for example, they did not issue a bond before but they came late last year and they issued the largest, if not th

that the juice gc wide effort we should be acting and demanding from all the gcc countries because is a problem is happening in all of them even if qatar and kuwait are the biggest problems right now. >> is a battle between instability and stability and there are criminals that are trying to promote extremism ideology and it's not a group i but individuals that you are pointing out that we need to target. >> thank you, sir. return to the gentleman fromalii california. >> for the record, briefly, last time you were in the administration split ten years ago. >> ten years ago with bush. >> yes, bush. >> state department went??. >> 2014. >> so recently, albrecht considered. >> all of you been in a position that this committee oversees and we don't oversee qatar or oversee kuwait, we oversee the places you work. i will tell you a story a bush era story. sixteen years ago there was a hearing in this room and we were evaluating the incredibly unreasonable activities of his dagestan as they had the audacity to want to stand there mixed 21's to a hostile nation. the other side of the story was

is the lack of cohesion at the gcc in this crucial part of the world, crucial time given geopoliticalons elsewhere, give us a sense of instability? >> right, and momentum in commodity prices and oil prices, there is issues on the supply side, which from the gcc and elsewhere, too. venezuela comes to mind. issues that don't have much to do with economics, but a lot to do with politics and political instability. there are also issues on the demand side. you've got europe in a corrupt swing. you got the u.s. doing ok. and then you have china, the largest consumer of commodities, accelerating rapidly right now. manus: what is going on with commodities, because we looked at the bloomberg commodity index and it is valued at 4% to 4.5%. this is interesting. hans was pointing at yesterday that last year the oil spiked. and a bit of weak, rough rice. we are on high fiber diets here. this is something that seems to have gotten away. >> catching up with -- they sort of move at an arms length between hard commodities and is off commodities. lag quite often, and that could be what we are seeing no

guy: where does this leave the gcc?cc effectively a broken organization? can it ever recover? torbjorn: there has been talk over the last year of deepening gcc integration and moving closer to a political economic union. that has been extremely that has been extremely difficult given some of the internal tensions. that's clearly coming before now. gcckind of deepening integration over the next year, i think will be very difficult at the moment. difficultitely a time for the individual states and the group as a whole. guy: thank you very much, torbjorn, head of middle east north africa at verisk maple croft. you can watch bloomberg on tv . it gives you all the breaking news, functionality, the market information you need. it also allows you to pop out charts we are using. charts we are using. you can bring up and tell us -- outbring up these and pop to one of your other bloomberg panels. a lot of functionality surrounding this out to one of your other bloomberg panels. a lot of functionality surrounding this live bar

we cannot have a country like qatar that is an ally militarily, and in the gcc, and in the arab leaguets an airbase from which planes take off to fight isis and al-qaeda, and at the same time, it turns a blind eye to terror financiers who operate openly in qatar, turns a blind eye to extremists who advocate suicide bombings and advocate young men going to fight in war zones. we cannot have it both ways. we are not doing this because we wa nt we are not doing this because we want to hurt qatar, we are doing it to help qatar. it will help qatar, it will help us, it will help the region, it will help the world. in response, qatar's foreign minister again said that resolving the dispute would come from dialogue and not a blockade. he says the accusations are baseless and politically motivated. first of all, qatar has never and will never support any terrorist movement, or will never allow terrorism funds to be raised from qatar or to be channelled through qatar. and will take whatever measure it takes in order to get rid of them. and therefore, this is qatar moving from a strategic dimensi

to play of very important role of the stabilizing region i don't see any different outcome with the gcc. >> good evening. my defeatists june and we do appreciate you coming to join us tonight with a clearings a inarticulate in and candid discussion that is on a lot of people's minds but have never heard of theft for qatar but with those attack ads we admire their restraint. so on this issue i can respond but we don't take sides in these complex but we will stand on the side of the empowerment of women with the freedom of expression and to opt for mediation over conflicts and to prioritize those issues. one of the things that have been raised with qatar is the obligation that your funding have lost -- hamas because of the many were putting into the cause every construction. i know hamas is the elected government of the gaza strip but is there not cooperation with the israeli government to be coordinated to be invested in the reconstruction of the gaza strip? there is some understanding of that role of qatar. >> going back against those ads run against qatar they are wrong trust me. [laug

politically for them but they do produce more that they can do but now we point to others with the gcc toward saudi arabia and we are trying to show them, the types of things would like them to do more. it's an irony that kuwait is a country that is playing the middleman on this in kuwait is often described as being just as bad as qatar on terror financing and something went to recognize as well but the fact is there are things that qatar should have done a long time ago that they have not done that that we have frankly tolerated them not doing and the overt financing of the most important al qaeda entity in the world al qaeda in saudi arabia is completely beyond the pale. and mr. goldberg one of the demands from the gulf states was that qatar must close down the turkish military base. i am guess that they are concerned about the muslim brotherhood influenced but how important do you think this demand is in terms of regional stability and purity and is this one that should be dropped? >> thank you congressman for the question. i think on the list of demands that the turkish airbase is

also, gcc yields unchanged. dollar -- contested regulations for the mining industry also helping.e are two hours away from the opening of the emirates market .nd abu dhabi let's get a recap of which companies stood out. member rank returns. you can see the last five trading days, take a look. also qatar national bank up. bloomberg's interview with the ceo helped feed into some of that. also the materials box under pressure. we will get more into the key scenes. let's check on for short headlines around the world. >> good morning. the trump administration has taken the trouble been dispute after the supreme court. the supreme court to bar grandparents from coming into the u.s., he is seeking verification. -- clarification. federal judge in hawaii last week ruled that several types of relatives, including grandparents, should be excluded from the ban. the white house has taken the fight for its health care bill directly to u.s. governors. governors meeting in providence -- argued about the bill. many governors have been critical about the effort and say that it could leave millions

what is the gcc to do?here aren't many options that bring this to critical stages. >> could one of those critical stages be military? >> i'm not sure i want to speculate on that, it is certainly -- you could perhaps enforce the blockade. you could seek to enforce that in some other ways, we haven't seen anybody publicly say that that could come in. obviously, the longer that this drags on, you're bringing in other actors, your ring in iran and turkey's will have their own interests to defend. everybody is becoming entrenched in the positions they are. everybody is becoming entrenched in the positions they are. something could go wrong, the risks are higher. >> it is the world's richest country, they can withstand a very long time. we have had some reports that looked at it as a banking sector and even if all the money was to come out, they can stand up, we know that shipments are coming in, we can track the ships that are bringing in food for qatar. we have stories about how they are flying in cows, they ar

sense, stepping aside from the knee-jerk reaction, it should have -- anita: they have it within the gccand the overall buying and selling of bonds and local banks in other countries become limited, that would continue to have impact on the bonds. thise hand you have international investor, but the local support may become wavering. situation resolves, the situation with the bonds will continue. not think anybody is expecting it to escalate into a conflict, but can it warrant any sanctions or create more isolation? that is yet to be seen. to your point, we are seeing negative external risk and it has caused a spread on that short-term debt to really widen. do you think it is also -- it is also that chase for yield? chase for yield, yes, definitely. it applies to the oman bonds more than the qatari bonds. have not seen as material of fall in those sovereign bonds as we have seen in qatar. to thebviously related negative impact from the political situation. you so much for that. that is anita. i want to dive into bloomberg where we are seeing some lines crossing the terminal wires on toshi

. >> we cannot have a country like qatar that is an ally militarily in the gcc and the league and that hosts an airbase from which planes take off to fight isis and al qaeda and turns a blind eye to financiers who operate openly in qatar. >> we must discuss the claims and allegations while presenting evidence and engaging in a constructive dialogue. qatar stands ready to engage in negotiations with a clear ourework that guarantees sovereignty is not infringed upon. israel and india have launched a new tech fund. camennovation initiative as narendra modi looks to boost triesonomy and his host to boost his presence in india. yum china shares fell after disappointing second-quarter sales at pizza hut. same-store sales were flat. revenue of $1.6 billion was below forecast. the ceo says he china is making with loyalty programs, restaurant upgrades, and digital delivery. time lucky for spacex, the falcon nine rocket blasted off after being aborted at the last moment. it said the rocket and its payload were fine. the falcon nine is caring and intelsat communications satellite to geostationary

in the northfield asked field earlier cause of the the diplomatic spat with saudi arabia and other gccember since it heaped pressure on other opec countries, so some fascinating dynamics on the ground. manus: what is the latest on the qatar situation? the kuwait these are playing a crucial role here as mediators. exactly. as i alluded to in that previous answer, we have had supposedly an extension of the deadline. saudi arabia according to local media saying it has agreed to this extension in response to a request by kuwait, acting as mediator in the dispute. hason't know whether qatar agreed to the extension and whether or not this makes any difference to the disagreement. we saw strong words out of the foreign ministry yesterday saying they would not concede to anything that violates national sovereignty. meanwhile, saudi arabia said there is no room for it remainss, so unclear whether an additional two days will be enough to result this dispute. manus: thank you very much. u.s. turn our attention to crude extending its longest run of gains this year as drilling in america slows, fut

was going to be the deadline for qatar to respond to the list of 13 demands from the saudi arabian gccnce. frankly, the gas field has been at the center of some speculation about the reasons behind that qatar gcc dispute. i spoke to one source and i would dobby and he set the approximate cost for that dispute was not terrorism or trump's recent visit to the region, but qatar's decision to end a self imposed much for him on -- moment or you and that would put pressure on other opec produces. interesting geopolitical stuff on the red. not one of the story, so how does that fit into the qatari story about the other four nation's? we had a deadline extension, but where does that leave us? tracy: that's right. the deadline was supposed to be today, but we have news from saudi arabia, that they have agreed to an extension to a deadline at the request of kuwait, who is acting as a mediator in this dispute. we have not heard from the tar yet and do not know if they have agreed to the extension. it's unclear what the additional two days will do here given some of the rhetoric coming out of both

what is secretary tillerson do only go to the gcc? what are we talking about today? they are spending 90% of their time on this issue. they are not spending time thinking about the other things you want them to think about and what we want to think about. it's a really important piece of trying to deescalate this and find a solution. important point. my last light is, as we are bouncing issues, consistency of message. what is the impact of the diversion message or inconsistent messages coming out of the administration having on us moving forward? >> is clear we have a couple different messages coming out. we are hearing on the one hand, that this crisis is not an urgent issue for the demonstration to handle, and at the same time, it is something we want to have handle. there is some in the region that feel they have a free hand to act. when they hear parts of the imitation. consistency -- parts of the administration. consistency will be important here. that ought to be the first thing we say and then to follow up with that by saying, as we demand this change, the oth

so in the state department, right, they look at this as not a healthy thing for the gcc. in the a healthy thing for our sunni-arab allies. >> rose: the conflict between. >> it's conflict, right. at a time when we are all trying to stand up to iran, right. and they look at the base and they want this to go away. right? and that, that is what lead the secretary of state to get on a plane and go to the region and try to help resolve this and then come back. i think the president's view is exactly what yousef and i have been talking about here, this is behavior that is unacceptable, this is behavior here that is-- that is feeding the problem that we all have. and it has to stop. and so i think that with a little bit of a difference of opinion, there was a difference of opinion between the president is is not about president is trump's visit. this is about our issues with qatari policy and base or no base, we would still have the same concerns while they support the brotherhood, hamas, taliban, et cetera. >> rose: so this is not a new issue. when you have brought this up with

. >> next on the best of bloomberg markets: middle east, our interview about the strategy of the gcc markets. we will break it down for you. yousef: welcome back to the best of bloomberg markets: middle east. the past inclusion for saudi arabia is a volatile one. muhammad is the strategist and thinks the upgrade process will not provide a straight path to riches, but also his views of qatar. are saudi too expensive but worth it? guest: i think they are a little expensive. banks are cheaper than the rest of the market. is the growthg and saudi arabia will be weaker than emerging markets and weaker than egypt so that is justified to some extent about the premium has become expensive. if you look at the history, saudi arabia peaks around 16 times earnings so we are close to that level. there is little growth, more activity coming in. more pain for saudi corporates, more pain for ex-pats. domestic consumption from the local population, but ex-pats are feeling some pressure. i think the story in saudi arabia will be a little volatile in corporate earnings. yousef: we do have some of the b

have a country like qatar thatis we cannot have a country like qatar that is an ally militarily in the gccb league and has an air base form which claims to —— from which planes take off to fight isis and yet they turn a blind eye to terror financiers who operate openly in qatar, a blind eye to extremists who advocate suicide bombings and advocate young men going to fight in war zones. we cannot have it both ways. we don't wa nt to cannot have it both ways. we don't want to hurt qatar, we are doing this to help qatar because it will help qatar, us, the region and the world. let me show you a tweet from the bbc‘s security correspondent frank gardner. hejust he just interviewed the qatar foreign minister. he isn't optimistic about a solution. this is the only way to ensure fresh supplies to the country. when you are not allowing our aeroplanes to fly over their sky. when you are violating the human rights declarations, the freedom of choosing family, the freedom of movement of the people, when they are separating families, they are violating these clauses and international law. a month ago, t

militarily and in the gcc and in the arab league. and that. host an air base. from which. planes take off to fight isis and dodge i mean ice isis and al qaeda and at the same time it turns a blind eye. the terror financiers who opened who operate openly and got out. the gulf state of qatar stands accused of using its vast wealth from gas. the back islamist movements all over the middle east. and of allowing extremist preachers to broadcast on al jazira. it's our opponents have insisted that tv network be shut down. one of thirteen demands that include closing the turkish military base on its soil. and cutting back ties with iran. kata is refused. from the syrian civil war quatre admitted today it had made mistakes in the past over which rebel groups to support. but so too says qatar hope other countries in the region. for a list of thank you very much when i met because us foreign minister in london today. he insisted the terrorism accusation was just an excuse to rub kata of an independent foreign policy. i thought it has never and will never. support to any terrorist mov

country like qatar thatis we cannot have a country like qatar that is an ally militarily and in the gccke off to fight isis and daesh, isis and al-qaeda, and at the same time turns a blind eye to terrified ncos who open kilmichael mike operate openly in qatar, who turns a blind eye to extremists who advocate suicide bombing and young men going to fight in war zones. we cannot have it both ways. first of all qatar has never and will never support any terrorist movement or will never allow terrorist funds to be raised from qatar. it will take whatever measure it takes in order to get rid of them. qatar is switching from the strategic direction countering terrorism and we are willing to commit more investing education in those bundle, vulnerable countries. police work is one of the toughest and most stressful of professions. so it's no surprise that many police officers retire early. that was certainly the case for one group in ecuador. but these particular officers are dogs, as the bbc‘s tim allman explains. not so much the thin blue line, more the thin blue lead. 16 veterans of the thin

uae's permanent representative to the united nations warned that doe how could be pushed out of the gcc. if it fails to comply. no is full ivory coast's former presidents are arguing that he should be released from jail before the end of his trial at the international criminal cour. eurobank goes on trial for crimes against humanity and even the post election violence in ivory coast in two thousand and ten. judges will decide later this week will bug was already spent six years behind bars at the i cc in the hague. the shows up on our polls. it's up act you went along gbagbo's trial began on january twenty eight twenty sixteen it was the first time beyond the floor he was trying to former head of state. five years earlier gbagbo was still be a warning in president running for his reelection. ivory coast was divided between his supporters and those of his rival alassane ouattara. campaign had been tense and so was election day. results came in tension and confusion escalated further first the electoral commission declared alassane ouattara as clear winner. not a son with tara got fifty f

so instead saudi arabia and the gcc isolate qatar and say it's all qatar's fault? qatar is part of the problem, but... there are 7000 saudis fighting in the ranks of isis. also from chechnya, from pakistan, from tunisia. from tunisia about 5000 are fighting under the isis flag. why? who facilitates this thing for them? you were right in your introductory comments to say we have to give a lot more thought to this, because the middle east is coming to us and you gave the example, absolutely rightly of course, the refugee crisis, if anything will deepen. when i wrote the book the rise of the outsiders, it was fascinating to see the degree to which that was defining the politics of many european countries, from the vulnerability of angela merkel for a time, to the way social democrats in northern europe... all responding to that process. you mention the fact that the isis leadership are basically saddam hussein's old republican guard. so that western intervention has triggered all of this. what should the west do, in terms of dealing with this? i can't see what practic

so this relation is in the context of gcc but also we have a great and strong relation bilaterally with turkey. turkey is a nato member. we have close coordination with nato and that's the context of the relation. >> why do you think that relationship with nato bothers them? >> i really don't know. maybe this is a question for them to answer. >> okay. so you have had a whole range of diplomats coming to try and mediate, some diplomats from europe, secretary tillerson, most recently president erduwan. what have you been talking about? tell us about the negotiations and what are the biggest sticking points? >> well so far we have been trying as qatar to be as constructive as possible and approach this with a very mature way. we are asking the four countries to come and sit on the table and discuss their grievances. so far, unfortunately, they have been not receptive. we have made our best to address the 13 so-called demands, which were -- were very difficult for anyone to accept. but just to show the good will of qatar, we have addressed them point by point and unfortunately they dismisse