mark mobius, templeton emerging markets.--p, the middle the head of the middle east's largest property company is continuing his push an into tech, targeting luxury consumers. that's next. this is bloomberg. ♪ angie: welcome back. i'm angie lau in hong kong. delsey: i'm this week am free into by. hasdubai-based tycoon formed a $138 million joint venture with milan-based online retailers. they are looking to profit from increased luxury spending in the middle east. matthew martin has more. matthew, what are they hoping to get out of this deal? >> well, for what he was saying yesterday at the press conference announcing the deal, luxury spending in the middle east is roun around 20 million euros and one of the fastest growing in the world. at the moment, a lot of that gets lost to the offshore companies and the international brands. by creating this joint venture, he is trying to capture a bit more of that profit locally, and as we are seeing more shopping in the middle east as bonds go , he is also recognizing that shift and

mark mobius.can assets at this price. >> and -- >> always. >> as we come back, state of america under president trump, we'll speak exclusively with kroger's ceo rodney mcmullen and liberty's ceo greg maffei. baba breaking records smashing singles day sales. we'll head to shenzen when we come back. go after it the same way?ny chasing after short term returns. instead if getting caught up with the crowd, the investment managers at pgim take a long term view, teaming specialized active investing with risk-management rigor, to seek out global opportunities. we manage over a trillion dollars this way, attracting many of the world's leading investors. partner with pgim. the global investment management businesses of prudential so what else is new? humm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first, let's take a look at your financial plan and see what we can do. ok, so we've got... we'll listen. we'll talk. we'll plan. ba

david: that was franklin resource chairman mark mobius. sharing economy coming to a risk near you.berg. ♪ vonnie: you are watching bloomberg. i am vonnie quinn. david: i am david gura. when the could mean for local businesses. posted bettery than estimated third-quarter earnings, look at what is driving sales. david: today's quick take, u.s. cuba relations are normalizing with the election of donald trump and death of fidel castro that could change all of that. vonnie: the mayor of london this morning whining that businesses could leave london if the u.k. ends up with the hard brexit. [indiscernible] mark carney -- carney called for business deals, during which the country stays in the eu to build markets. >> i think mark carney's a frustration that if it is the case, the government wants to exit swiftly and the needs to be a transition because it cannot afford to go over the cliff edge. if you are a business, you are planning for years or five years ahead and that lack of certainty can cause a problem. vonnie: he also said that he received assurances from the british government th

turning: mark mobius is bullish on chinese equities, arguing that officials make seller the market opening. he says he doesn't think trump will institute protectionist policies and will be more businesslike and realistic when negotiating with the chinese. since last week's shock results, the chinese benchmark stock index has rallied. fetched $54.5 million. the candidate went under the hammer after a week of options in new york. global news, 24 hours a day, powered by over 2600 journalists and analysts in more than 120 countries. this is bloomberg. guy: thanks. a former goldman sachs banker has been recommended by donald trump's transition team as treasury secretary, according to feeble familiar with the process. they await the president-elect's final decision. remember, donald trump seems way -- potentially he's a very good treasury secretary. let's bring in another voice into this conversation. mea investment officer. good morning. >> good morning. guy: this is the bloomberg barclays multi-verse index, a catchall bond market index. it has been absolutely battered over the last few days. 1