kuwait planto tap international bond markets in 2017.the finance outlined his plans, including how much the country will be seeking. >> we started tapping the markets in kuwait, and now we .re very soon going abroad we are targeting 2017 definitely, it will be a year when we will go to the international markets. >> you have floated a figure of $10 billion for the amount that needs to be raised. if there is demand, would you consider a larger issue? >> i believe this to the advisors. -- will leave this to the advisors. they give us a commendation on the best ways to finance our deficit. that depends on the market's condition. >> who have you hired to advise you? surely, you need a bank as well. >> we are finalizing that very soon. >> who is in the running? .> a number of them >> what is your outlook for oil prices? time,know, last year this from january to january, we are 100% up. i think the 50-60 level would be something acceptable in the oming period. >> how long? >> six-12 months. >> to i interpret that to say you are satisfied with t

kuwait is finalizing plans for its first-ever sovereign bond sale.e details from the country's deputy pm and finance minister. this is bloomberg. ♪ ♪ tracy: will you you are watching "bloomberg markets: middle east." yousef: let's check in on the -irst word headlines might - headlines. people born into major cities for protest marches a day after donald trump's in operation. the women's march on washington see the swearing-in of donald trump as the most widely attended event. they were in the city from early morning until late afternoon. tracy: and australia beginning talks with the u.k. ahead of its departure from the european union. the treasurer says the government will look to improve the relationship between both sides as brexit takes shape. their trade is with $20 billion -- was whether $20 billion in 2015 and 2016. yousef: and monopolizing the chip market, apple is accusing looking for a rebate on licensing fees. welcome has been under fire from regulators for the licensing practices. of opecrepresentatives and russian meeting today to monitor

kuwait primes to cap international bond markets in 2017.he average -- the emirates finance minister outlined his plan for that sale including how much the country will be seeking. >> said to cap into the markets in kuwait and now we are soon going abroad. we are targeting 2017. it will definitely be a year will go to the international markets. figure to theed a amount that needs to be raised -- floated a figure to the and at that needs to be race. if there is demand, will you consider a larger issue? >> i leave this to the advisors. they are giving us their recommendation on the best way to finance our deficit. that depends on the market's condition. >> levy hired advise you question mark >> oliver wyman. >> you need a bank as well? >> we will have that pretty so. >> who is in the running? >> a number of them. >> what is your outlook for oil prices? from january to january, we were 100% up. levelthink the $50-$60 would be acceptable for the coming period. coming six to 12 months. >> do i interpret that to say you are satisfied with the resu

will leave again, following the story out of kuwait.ou a preview of some of the key stocks you should be watching, saudi telecom, news it ill buy a company for 230 million riyals. it has been moving away from the risk-averse mentality that has dominated the company for many years, and coming on board with the 2030 vision and being creative and how it deploys the free cash flow it has. that is all we have for this edition of "bloomberg markets: middle east". shery: i will be back with the headlines at the top of the hour. thank you for watching. this is bloomberg. ♪ of the topn update stories. the u.s. what an emergency meeting of the u.s. council claiming iran has tested elastic muscles. fox news reporting the launch. netanyahu says he will proposed renewing sanctions on tehran when he meets president trump next month. trump has fired the acting attorney general after she said she would not defend his travel plan and questions the legality. haswhite house says she betrayed the doj. the bank of japan kept stimulus

i'm on an kuwait, will other countries policy -- all on an kuwait, will other countries follow suit?k: under 30 minutes until the finish of the tuesday session, first trading day of the year in london and in switzerland, the left-hand column of this go function shows equities rising across the board. in greece, luxembourg, austria, switzerland, spain, belgium, currencies in the second column are falling against the dollar. what a quarter the dollar had, the last quarter of 2016. best since 2008. sovereign bonds is the third column, let's not forget the stoxx 600 is heading for a bull market. minutes, the move from february last year through today on a closing basis. 20%. that is a bull market. in turkey, this tells you what has been happening, the dollar rising to a record high against the lira which is falling to a record low against the dollar, the biggest decline against the dollar among the world's major currencies today, falling as much as 1.6%. the killer of 39 people at an istanbul nightclub out large. inflation accelerating more than expected in december, the annual , morebov

a kuwait stocks are on bradley, up more than 15% since the start of the year. will that continue?ousef: it is 8:00 a.m. across the emirates. i am yousef gamal el-din. i am shery ahn in hong kong. it seems to be that seeking safety is a theme for the week, bonds rallying, investors , soing safety, chasing debt caution seems to be the theme, but not necessarily the theme for the last couple of weeks. yousef: i tell you what, we have heard whispers about trump trade unwinding, and yes some asset classes reflect that, but if you look at the bigger picture. story, riskells the on, risk off, one of my favorite functions on the bloomberg. as you can see, we are firmly risk on. greatof volatility, a index, a global metric. this looks at everything from currencies to volatility to solver and yields, so an accurate reflection of risk sentiment. at the moment, on the upbeat and setting up the broader story that the trump trade is in tact, at least as we speak. sentiment. let's tell you how the middle east markets closed. , ani and abu dhabi interesting picture as earnings trickle in. , downs

i'm on an kuwait, will other countries policy -- all on an kuwait, will other countries follow suit?

cranny in kuwait city in may. [indiscernible] it has been quite substantial. now we hope by the coming five years will be measures of fiscal and economic reforms that have been announced in april, the 13th of april, by the government degree, and that after five years we will be able to come back and cover all of the gdp nominated. plus, we think we will be closing up our deficit tremendously. manus: i know this is your six-point plan, you are a man of reform. so my question to you is, a brave man enters brave reforms. you have got six points. it is a tough parliament. corporate tax, reducing subsidies, and privatization. for you, sir, what is the priority of those? i know they are stakes, but what is the priority? anas: to focus on dividing them up into issues. i would say closing on my deficit, the financial deficit, and then i i have to diversify my economy by having more private sector coming in locally and internationally leading up to the call. and i think we are willing to do that. i believe some of the rati

kuwait has started moving on that front.how much oil they are taking out of the system. you are looking at this chart. when hundred 30,000 barrels per day. -- 130,000 barrels per day. that is how much we are looking at. iraq addressing some of its reduction requirements. you're looking at news coming out around concerns that it is not kuwait that should be in focus. there is commentary out from gadfly saying they need to look iraq, and nigeria specifically. some of the exceptions to the opec agreement. if they increase reduction they could derail this understanding. and oil prices beginning to rise. over in the u.s. only you have the rates targeting, u.s. crude is up. that trend continues. and you is producers feeling more comfortable to bring production that online. guy: great stuff. joining us on the oil story brick getting some data out of germany. this is the unemployment number. big story. -17 k. the german labor market continues to tighten despite what is happening with the immigration story. this could be a lead indic

the minister in kuwait says they will get there.ries that we thought i'd be difficult,, seems to be getting -- that we thought would be difficult, namely iraq, seemed to be getting there. this is also purport. test this is self reporting. we need the official numbers. arabia, algeria, and kuwait have already exceeded. there is a lot of momentum going in. host: we are hearing different timelines the oil market rebalancing, some saying it will happen by the end of the summer. when can we realistically expect that? sam: there is a lot at play here. what they mean by rebalancing can be difficult to know. the qb ministers has it should be rebalanced in the early part of the year. saudi minister says it should be drawn to normal levels by the end of the year. we need to keep an eye on the u.s., a big part of the picture. president trump, a lot will be changing, new pipelines, the looser regulations on and it energy companies. we could see production in the u.s. we need to see whether or not these industries come down as many opec members

relative earnings and vibration showing kuwait neither overvalued or undervalued.story there? have seen investors bullish in that market right now, and we don't have one positiveigger for this momentum, but what we hear from investors is there are elements quite curious. investors rotating from real estate to the stock markets at this moment, something we have not seen in the past few years. lot of chapter and investors in kuwait that there could be some sort of support from a fund tied to the government that would be providing liquidity and also supporting prices in that market. still unclear. we cannot determine that this is the fact that is behind the movement in kuwait right now, but quite an interesting moment for kuwaiti stocks. shery: what about expectations for earnings? what are investors focusing on their? >> yes, a good question. most of the biggest banks in the region are posting earnings this week. for aday was the day national bank that has a big impact in the market there. , so people are focusing on provisions, and the numbers regarding nonperformin

does kuwait have our best interests in mind? i question -- >> good point. >> the notion that we owe the rest of the world their freedom. i think there's a good argument that the world is a less safe place precisely because the u.s. is protector of the free world. what i like about trump is to some degree he is saying it's not the u.s.'s job to fund the defense of some of the richest countries on earth. that's not our job. >> bruce, let me challenge you for a second. other than unesco and there are some charity works which the u.n. does, what do they do that helps us be more secure as a nation? >> well, if you go back to which you talked about under george bush, it is a body that at least you can find out where other countries are standing. and it puts people on record. if it goes away, we have no as bill said earlier way to promote peace around the world and work with our allies. now, if you don't want it to be a new yorker, this all to be done by e-mail, i guess that's for the next administration. >> quick last word from steve.

in the headlines, kuwait has begun to deliver their cuts. who will come next and at what size and what shape? sinceggest yearly gain 2009. kuwait reduced production by 130 billion barrels. drillers are back. a couple of different things. china data. time, yout the same are seeing stop orders triggered. that is where the aussie comes into play. , roseprices, in australia the most in seven years. those are the challenges for the rba. house prices climbed 9.8%. those are your markets. back to the state of play. a full trading day. the risks, the rewards. let us get the bloomberg first word. good morning. sophie: thanks. state run chinese tabloid says toald trump is pandering irresponsible attitudes after the president-elect accused china of not stepping in to curtail the north korean nuclear program. china tweeted that north korea -- that china would not help with north korea. north korea has announced it is close to the launch of an intercontinental ballistic missile. a u.s. trade representative office leader has been chosen by donald trump. a

yousef: coming up, kuwait's investment authority lays out his plan to seek higher returns.is bloomberg. ♪ yousef: the kuwait investment move asy is planning to much percent of its allocation in house. greater risk is needed to boost returns. to globalurning infrastructure projects. >> i want to compare our returns the last 10 years. i don't think we could have made the same returns. that's why we want to do something different. that's why we are expanding. i think we have to take more .isk in order to maintain that's why three years ago we started to invest in infrastructure in the u.k., spain. so far we invested around $3 billion in different sectors of the infrastructure. broad distribution, airports, seaports. it is a portfolio of our infrastructure. reporter: right now, it is awfully difficult to find alpha. guest: i totally agree. looking foru are infrastructure, you are looking for it in credit. where are you getting it today? who is delivering that performance, and in what strategies and accept -- asset classes? guest: it is in the private, it is in the credit. if yo

oman in kuwait following through with production cuts. and not absolute treasury yields. if you look at the chart of , you can see that is where we started last i year. the blue line is the yield and that is a percentage points above. not quite as high, but still a percentage point higher than where it is now in february. that picture at the start of last year is looking a lot riskier than this one right now as far as the yield spreads go . the higher all yields go up with treasuries, it will be a sense of concern. right now everyone is sort of willing to ignore those risks for the time being. at thathen you look spread, that is largely credit worthiness. if you get inflation up, these companies will have more money coming in. at the same time, if the fed keeps the rate basically low, we're going to be ok with paying our bills. joe: looking at that chart that of the year the end 2016 was so different from the start of the year in terms of what was on people's minds, what .he risks were perceived donald trump at the beginning of 2016 is so

the kuwait investment authority is looking to redefine most of its own assets.ing director says that greater risk is needed to boost returns. turning to private assets and global infrastructure projects for yields. >> i want to compare a returns of the last 10 years. the do not think we could beat the same returns. that is why we want to do so the different, that is why we are expanding in the infrastructure and credit. i think we have to take more risk in order to maintain -- that is why, three years ago, we started to invest in new for structure. -- infrastructure. so far, we invested around $3 million in different sectors of infrastructure. power distribution, airports, seaports. this is the portfolio. reporter: now, it is difficult to find alpha. you are looking for it? guest: i totally agree. reporter: you are looking for it in infrastructure and credit. where are you getting it today? who is delivering the performance and in what strategies and asset classes? guest: but me tell you what we are trying to do in the last few years. where is alpha? it is in pr

we have been expecting kuwait to issue this bond for some time now. what has been the holdup?orning. that is right. it has been delayed. there has been some political drama in kuwait, including the dissolving of parliament in october. that said, the government can still use executive power to issue debt. the thing holding up that debt successmost likely the of other debt sales, in particular saudi arabia issuing that $17.5 billion mega bond in a tober. -- in october. it seems like a weight was coordinating with saudi in order to avoid over supplying the market with new golf debt. success, quite a bumper year in bond issuance, but what is the outlook for 2017 then? >> that's right. ulfhad a record year for g debt last year with new players, oman selling $4 billion last year, and abu dhabi as well. the question is whether that continues in the 2017. we have seen some indications, oman considering selling more international bonds. saudi arabia saying it will tap the local debt market, and is considering going to international investors again. the big wild card is what happens wit

i have met with the chairman of committee ofg kuwait.through a number of drafts, and we have shared some of the ministers who are in abu dhabi recently and are coming back from caracas, where the newly appointed minister, nelson martinez, who will also be a member of this committee. when we convene at the inaugural meeting on sunday in vienna, we will be able to the doctor a mechanism of how to implement it. reporter: saudi arabia does not see any need at this moment to extend the opec deal beyond six months. do you agree? mohammad: at the moment, because we have to wait until opec convenes on the 25th of may and possibly meet with the 11 participating countries that form this platform to review the implementation of the joint declaration, which was performance then. based on their crossed consideration of the market conditions, then a decision will be taken on this. reporter: speaking of market conditions, opec does not target oil price, but we are -- are we at the level the ministers want to see? mohammad: we are focusing on the level

coming up, kuwait's winning streak continues. what is driving this world topping rally?ishaad: you are back with bloomberg. i'm rishaad salamat and hong kong. yousef: i am yousef gamal el-din in dubai. stocks hit their longest winning streak, rising for an 18th consecutive day on a day when trading was dominated by reaction to donald trump travel ban. i'm looking at how the kuwaiti stock exchange has performed so far this month. what a remarkable rally. most people would have thought it would have come to an end a week or two ago, similar to the moroccan stock euphoria we saw at the beginning of the year. what is driving this momentum in kuwaiti stocks? it is several factors, not just arbitrary speculation? >> there is some catch up at work in the way the regional stock markets perform, and also the reform process and programs on the agenda, debt issuance also on the agenda in kuwait, like kuwait following the path of other countries in the region by looking likely to issue external that in the coming weeks. , think that is gaining some drawing out some investors and loo

kuwait has seen the most intense air attack on the second world war.ggest industries, but they are scared it will stop people wanting to smoke cigarettes. no street is unaffected. huge parts of the city were demolished as buildings crashed into each other. this woman so she was given no help and no advice by the authorities. she stood outside the ruins of her business. tens of thousands of black children in south africa have taken advantage of laws passed by the new multiracial government and have been enrolled in mostly white schools. tonight is the performance of the mousetrap, but when they heard of her death, they were thinking of cancelling the performance, but agatha christie would not have wa nted agatha christie would not have wanted that. welcome back. i am rico hizon in singapore. i am kasia madera in london. the top stories. donald trump's choice to lead the cia are strongly praised the intelligence communityjust strongly praised the intelligence community just hours after strongly praised the intelligence communityjust hours after donald tr

he should have been able to keep kuwait city.didn't think that should be the case. >> in the case of kuwait we went to war, we went to battle on the battlefield against saddam hussein for doing exactly what donald trump is advocating. >> indeed. >> we have to get a break in here. stay with us. when we come back, donald trump likes to talk about how many times he's been on the cover of "time" magazine. wonder why he cares about that so much and why he lies about that so much. that's next. liberty mutual stood with me when i was too busy with the kids to get a repair estimate. liberty did what? yeah, with liberty mutual all i needed to do to get an estimate was snap a photo of the damage and voila! voila! (sigh) i wish my insurance company had that... wait! hold it... hold it boys... there's supposed to be three of you... where's your brother? where's your brother? hey, where's charlie? charlie?! you can leave worry behind when liberty stands with you. liberty stands with you™ liberty mutual insurance if you have moderate to severe

he should have been able to keep kuwait city.e didn't think that should be the case. >> in the case of kuwait we went to war, we went to battle on the battlefield against saddam hussein for doing exactly what donald trump is advocating. >> indeed. >> we have to get a break in here. stay with us. when we come back, donald trump likes to talk about how many times he's been on the cover of "time" magazine. wonder why he cares about that so much and why he lies about that so much. that's next. this is the silverado special edition. this is one gorgeous truck. oh, did i say there's only one special edition? because, actually there's 5. aaaahh!! ooohh!! uh! holy mackerel. wow. nice. strength and style. which one's your favorite? (laughter) come home with me! trade up to the silverado 2500hd all star edition and get an average total value over $11,000 when you find your tag. find new roads at your local chevy dealer. introducing new depend silhouette briefs. featuring a comfortable sleek fit. as a dancer, i've learned you can't have any

members led coalition forces in the liberation of kuwait, operation desert storm. of the roughly 600,000 american troops who deployed in both operation dezered shield and desert storm, 294 died in theater of which 148 were killed in action. united states currently lack as national memorial dedicated to the valor and sacrifices made by those members of our armed forces who fought honorably in operation desert shield and desert storm. mr. speaker, it's important to note that no federal funds will be spent to build this memorial. all funds will be raised privately by the national desert storm memorial association. we must honor the men and women who fought honorably and valiantly in support of these operations and memorialize those who gave a life to free another. the establishment of this memorial was authorized in the national defense authorization act for fiscal year 2015, passing this resolution is simply the next step in the process for site selection. the secretary of interior has confirmed the historical value of the proposed memorial and deemed it worthy of be

saudi arabia had their issue at $17.5 billion, kuwait may come up soon.onal oil companies that would have been the traditional route for governments to plug deficits. see companies like aramco and others think about ipos, this might have changed the way a payor for as sovereign debt and liabilities, and now oil companies are more professional and can go out and decide when they need loans based on market conditions rather than -- yousef: -- , whatd: looking at this are people saying about the year ahead? what is the outlook? 26% last yearown compared to 2015. it's also important to remember that last year was this second-biggest year in terms of , sos in the region 2015-2016, a third of all loans that bloomberg has tracked have been issued in the last two years, and this encapsulates that oil prices are down for these companies that were once cash rich. they do need the money. the trend is shifting towards sovereign debt, so fewer energy loans, and with projects delayed or shelved, we will see less loans going towards oil companies and other energy produc

kuwait is responsible for overseeing compliance of this opec deal, and kuwait's oil minister said theation is going ahead, the gulf countries and russia are going , so wek with the cuts have to watch every time they get together. we will be with them watching what they say and checking on the progress. shery: right. thank you so much for your insight. let's continue our conversation of -- with the founder thank you for joining us. we were talking about compliance, implementation issues when it comes to the opec deal. prices, is itto more about the commitment of opec suppliers to the deal, or is it also about u.s. producers just boosting output? which one is dictating prices? it is definitely a supply-driven story for 2017. the two factors you mentioned, i would argue are equally in portend, though not at the same time. for right now, the market will be opec and non-opec cuts just took affect, barely over a week, the market will a close attention in the coming weeks to the compliance you have been discussing with your previous guest. i am not that pessimistic as some of the skeptics in

. >> i've been crossing paths with you for over 15 years now when steve was on that rooftop in kuwait, i was about ten feet away from you. to tell you a little bit about this guy, i think i left for kuwait in february, got back from iraq in june. you spent a lot of days and nights away from your family over the years. but you told me something when we were talking after the inauguration last week or so about the birthdays. >> right. >> tell have two daughters. we have two daughters, my wife ruth and myself, lauren and jessie. when we came here to washington, jessie was going into first grade. lauren was going into third grade. lauren just celebrated her 40th birthday. she's a lawyer in new york city. jessie who's in baltimore, dr. jessie handelsman is 3 yea8 yea old. by mere happenstance, i only missed one birthday. luck of the draw. >> we are really going to miss you around here. you are one of the finest reporters that i have ever had the pleasure to work with. it's going to be interesting to see what you do next. thanks for all you've done for us over the years. >> let me turn this

the core countries, the uae, kuwait, saudi arabia, they have always been compliant.expect any form of cheating from them. iraq, ithink, will be expect any form of cheating from them. iraq, i think, will be tricky because they need the money to fight isis and i do not expect any compliance from them. the rest, what works in favour of 0pec, is because of years of underinvestment, decline rates accelerating so by default they will be complying. this time last year we were looking at oil around $40 a barrel and there was a massive fall early on in 2016 because of what was going on in china. as we have mentioned, many companies going bust, the smaller energy companies. will we see more of that this year? i think the worst is behind us. in terms of companies struggling. that does not mean they will turn into profits overnight because again we do not expect oil prices to go much beyond 60 or $65 in the first half of the year. perhaps in the back end of the year but it will take a while. i think companies have cut costs but we are seeing a couple of years of severe cuts and

are overbought -- in kuwait's index are ones to watch. if they are not overbought after 18 consecutive days of gains, you might want to reconsider the indicators and they are using. tracy alloway, thank you so much for joining us from abu dhabi on reaction. the travel ban was not the only news trump made over the weekend. he had his first formal phone call with russian president vladimir putin. gregory white joins us from moscow. greg, given all of trump's positive comments about putin over the campaign and the controversy over alleged russian hacking of the dnc, there was a lot of anticipation for this call. what do we know so far about how it went down? gregory: we don't have an awful a lot of detail about it. we have a short statement from the white house about what went on. rundown that the kremlin gave on saturday. the talk lasted about 45 minutes to one hour. both sides said the tone was very positive and they talks about a range of international issues and highlighted the importance of cooperating and fighting terrorism and the isl

oman, not a opec member and kuwait, a opec member saying we're cutting too.hat gave oil to the upside and then reversed. down about a buck 51, to $52.21 right now we lost any gains we had earlier the why? you can blame it in part on the strong greenback. like every index is tracking stocks. greenback could have nearly 14-year high. biggest gain this three weeks. the we fumbled that too. green back is falling. oil is confused where to go. let me get you on point. this is the floor show. john corpina. >> happy new year. liz: we have our cme and nymex traders. john, what happened? why did we fumble all the gains? we were up 176 points. now the dow is up only 60? >> there is a little euphoria, seeing whether session will translate into today. haven't really seen the reason to get in just yet. they were hoping for something with the futures up 15 this morning but didn't have something that got them into the market today. a lot of economic data this week. we'll hear from president clinton next week. hear from president-elect trump next week. fomc next week. reason

jordan chat in kuwait ratified the equation -- ratified the agreement and are expected to come into force within two weeks. the agreement will have major impacts on four countries as it standardizes and expedites the procedures. it means faster and cheaper delivery. >> an agreement has been put into place and will have the largest impact. implemented, this could have an impact of around everyn trade expansion year until 2030. and half a percentage point of world.wth around the anchor: finally, for those of you who love the smell of napalm you may soon be able to experience apocalypse now in a way you never have before. videogame. gamers take on the character of the u.s. army captain willard, who is on a secret mission to assassinate renegade colonel .urtz francis ford coppola is developing this interactive psychological videogame based on his epic vietnam war film and he is asking the public to contribute $900,000 for its production. vietnameseinto the -- i dove into the vietnamese war without parachutes and i am joined now by daredevils, a team who wants to make an interactive version th

this and i think that's an important thing to know whether you're talking about algeria, jordan, kuwait or the uae, there's muslim majority countries not in this seven. these seven were identified by the obama administration needing further travel scrutiny. >> what about the countries like pakistan, like afghanistan, where there have been terrorist cells, saudi arabia on 9/11. >> we're looking at all of this holistically. but i think the first step -- >> why these first where there haven't been -- >> i just said it twice, because i think these were the obama administration put these first and foremost and said these countries need to have further travel restrictions based on the intelligence that we have. so, you know, those were identified by the previous administration. there were further travel restrictions already in place from those seven countries. what the president did was take the first step through this executive order of ensuring that we're looking at the entire system of who is coming in, refugees that are coming in, people who are coming in from places that have a history o

those veterans but all too many times like in the dallas shooting an individual had one deployment to kuwait claimed ptsd. i think we are also giving out too many awards and diagnosing all the individuals to freely with ptsd and that stigmatizes everybody and those legitimately who do have those issues. lou: you get the last word, bobby. >> it's not a simple issue obviously but the situation that happened clearly seems to be a mentally unstable individual taking action randomly and it's a frightening aspect of one we seem to have to live with in every society. lou: and one that i know you gentlemen as you pointed out it makes your jobs and that all law enforcement in this country all the more difficult as we are not providing adequate mental health care for those who are deeply troubled and are veterans not getting the care that they need and deserve. bobby chicone thanks for being with us and chad jenkins thank you. that's it for us tonight. we thank you for being with us. nigel farage ed rollins michael goodman among our guests monday. we have a lot happening between now and then. the week

it's the kuwait petroleum corporation and the abu dhabi national oil company and petro china. in russia it's rosnaft, it's the state run oil company of russia. it's not run by a random ceo who worked his way up through the company. it's controlled by the kremlin, it's controlled by vladimir putin so he put his former deputy prime minister in charge of it. somebody he goes way back with. he and vladimir putin served in the kgb together. so, yeah, putin put him in charge of the state oil company. i mean, here in the united states we tend to think of oil companies differently. i mean, in part we think about our everyday lives like where we get our gas from. we think of the big oil companies as, like, shell and bp, chevron. but globally if you look global ly all of the biggest companies are government owned country. saudia ramco, petrobras, pemex. that comes in very handy for those companies. it's particularly handy for corruption -- i mean efficiency. i mean, think about it, you need policy decision made to clear the way for you to, i don't know, buy an asset somewhere or make so

anas al saleh is the deputy prime minister of kuwait.n: let's get straight to the markets, shall we? two hours away from the cache open, marginally positive on the dow. the s&p up. treasuries on offer for much of the morning. 2.50 is year yield on the 10 year. the euro weaker. the cable rate at 1.22. inauguration day for donald trump. he will become the 45th president of the united states. kevin, great to have you with us. walk us through what to expect. just behind me on the podium, president of elected trump will become president trump. he will meet with outgoing president obama, where they will have coffee with their theirctive wives -- wives. then he will give a short and not duration a dress, laying out his vision for the country. i am told that he will seek to unite the country and make america great again, but also put america first. look for that to be a key theme. john: i picked out a quote from one of our stories, president obama used a pen and phone to load the federal register with harmful regulations. donald trump has an era

they're members of 2th come back brigade and they're headed to kuwait and iraq. >> even though we're going to places that may are not. do not get complacent. >> from aberdeen the sorldz will head to texas for more training and head over to middle east. they're expected to be home next fall. >> all those hugs and smiles. all right. >> the national zoo needs help tonight. ollie the bob cat is missing. after he didn't show up for breakfast of the we'll have the details when we return ♪♪ new year, time to get rid of stuff. simplify, declutter, unplug, purge, or even quit cold turkey. i raise turkeys without growth-promoting antibiotics, hormones, or steroids. if you're looking for little ways to simplify life, feeling good about what your family eats is a pretty simple place to start. my name is tammy plumlee, and i raise honest, simple turkey for shady brook farms. for shady brook farms. afoot and light-hearted i take to the open road. e long brown path before me leading wherever i choose. the east and the west are mine. the north and the south are mine. all seems beautiful to me. >> no

day one of operation desert storm to force the iraqis out of kuwait has seen the most intense air attacksica's oldest industry, and it's one of its biggest, but the industry is nervous of this report. this may tend to make people want to stop smoking cigarettes. there is not a street that is unaffected. huge parts of kobe were simply demolished as buildings crashed into one another. this woman said she'd been given no help and no advice by the authorities. she stood outside the ruins of her business. tens of thousands of black children in south africa have taken advantage of laws, passed by the country's new multiracial government, and enrolled at formerly white schools. tonight sees the 9,610th performance of her long—running play, the mousetrap. when they heard about her death today, the management considered whether to cancel tonight's performance, but agatha christie would have been the last person to want such a thing. this is bbc news, i'm ben bland. the latest headlines: donald trump sparks outrage after criticising a veteran civil rights campaigner who questioned his election vict

day one of operation desert storm to force the iraqis out of kuwait has seen the most intense air attacksco is america's oldest industry, and it's one of its biggest, but the industry is nervous of this report. this may tend to make people want to stop smoking cigarettes. there is not a street that is unaffected. huge parts of kobe were simply demolished as buildings crashed into one another. this woman said she'd been given no help and no advice by the authorities. she stood outside the ruins of her business. tens of thousands of black children in south africa have taken advantage of laws, passed by the country's new multiracial government, and enrolled at formerly white schools. tonight sees the 9,610th performance of her long—running play, the mousetrap. when they heard about her death today, the management considered whether to cancel tonight's performance, but agatha christie would have been the last person to want such a thing. this is newsday on the bbc. i'm rico hizon, in singapore. i'm kasia madera, in london. our top stories: donald trump's choice to lead the cia has strongly pr