exposeds not has lossmaking parts of the gulf air group.body seems to be speaking capitalism, qatar, abu dhabi. you are going to keep that theme going. middle east credit rating, downward pressure. liquidity conditions could be the trigger. thank you very much, indeed, for coming. guest: the middle east is undergoing a major transformation. lower price of government has changed the picture. this is a good lesson for the middle east because i think that this time around, most of the judicial authorities are taking seriously this message and they are aiming to transform the economy effectively weakening to some extent of the high dependence on oil prices per part of transformation plan if you want will involve getting more leverage in order to found the growing deficit. rishaad: we've got these problems of liquidity concerns. guest: liquidity conditions, local banks, which usually are the major buyers of local credit, have come under pressure because obviously have the lloyd revenues. since february, we have seen a slight improvement in liqui

many companies we are looking at are still lossmaking.ostlk about some of your recent investments. for example, we were talking , markethe break leaders, maybe want to talk about that? >> absolutely. our investment strategy is about finding category leaders in consumer internet globally. we have invested $6 billion in the last six years globally. china is our biggest market, 40% of our investments. we invested in many of the leaders in china, like alibaba and others. >> what is the transmission from the chaost we saw in the stock market? it has become quiet, but the problems have not been solved. what is the transmission effect for the appetite? >> there is definitely a certain lag. the companies we look at are led by founders who are extremely ambitious, want to create big companies, always convinced they are running one of the best companies. everyone is. so if you have tough markets, it does not transmit to the founders ambition for high valuations, but for now it is clear that it is impacting the technology market as well. not only in

stocks surging the most in months, dropping almost by a third as it struggles with its lossmaking u.scarrier. let's get over to tokyo bloomberg. what can we expect from these results? >> it certainly looks like the bank is making real progress. stemdvantage to subscribers, and cutting costs. pavel: but it could take several years, as they have acknowledged. but it is far from a foregone conclusion that when it is over, the spread will be worth the $22 billion price tag the company paid for it in 2013. this was his experience a decade ago, making its domestic operations profitable. by all estimates, it has been an all-out success. they have now generated about 700 in yen. despite the steady improvement overall, this is not reflected in the company's market value. cap,out $65 billion market they think it is still worth about the same of their largest stake holding in alibaba. and that is not counting yahoo japan, super cell, and other investments. a long way to fix that $22 billion valuation gap. but the company has more drastic measures that it could implement , for example, listing do

this time around, it is supposed to be lossmaking. to morgan stanley, people are losing anywhere from $.48 to six dollars a barrel on storage of oil. they are doing this because they have no other option. or peopleons are full are trying to make a speculative bet on the price of oil, and that can be a risky bet because some of them are borrowing from banks to fund those storage costs. ready risky. mark: what does it mean for oil markets, tracy? tracy: i think one way of interpreting it is potentially the recent rally in the price of oil has been pretty speculative. the other thing it suggests, we still have quite a storage glut in the physical market and according to morgan stanley, this means the physical oil market is not as healthy as recent sentiment in oil prices would suggest. mark: up next we are going to talk turkey. simsek. the prime minister, sending the lira higher. ♪ mark: breaking news out of turkey. the deputy prime minister has retained his post, sending the lira high. give us the details. why is this so important? mini

profit diving by almost a third as it struggles with its lossmaking carrier.ng to 1.1 billion dollars. sprint is on track to improve profits by nearly $2 billion a year. those are the headlines from bloomberg news powered by over 2500 journalist. let's get the latest from the markets right now. japan comes back online. clicks we saw that strength in the yen earlier. it was up by a third of 1%. it was up by 6/10 of 1%. more positivity coming through into that japanese equity market . it is reaching for a second session after yesterday. we are seeing weakness in the region. here in hong kong. they have fallen to a two-month low. it is down by 6/10 of 1%. still seeing good movement similar to what we are seeing across the rest of the region. crews are headed back to 35 barrels. we have stopped coming under pressure in hong kong. the the been having a very solid session up by about 3% taking its today gains since january. solid movesry coming through in a straw you led by those commodities. the a excess 200 is holding at levels that it has not seen since august 19