yousef: coming up on the best of "bloomberg markets: middle east ," with citizens working across the philippines has deep ties to the region. the finance minister tells us how it plans to attract more middle eastern money. this is bloomberg. ♪ yousef: this is the best of "bloomberg markets: middle east ." the philippines finance secretary says his country is keen to draw investments from the middle east. he said the government is interested in deepening its ties with the gulf. >> this is our middle east show. i want to talk about the roadshow you had at the end of the year, investment roadshow. various places there. also, the president has long been scheduled to go to the region. what is the priority? what sort of deal do you want to come back with? >> essentially, the president is going there because we have a lot of foreign workers in the middle east. the contribute a lot to philippines and he won by an elming margin among the 4fw's.'s -- we welcome the middle east capital to come to us. >> you want to set up a bank in the middle east. of the landchairman bank of the philippines. we

he didn't really say much about the middle east.e said a little bit about immigration where he restated his position. when it comes to the middle east, there were three things he mentioned. there was half a sentence on iran and half a sentence on israel. really nothing new. this was very much a domestic policy speech aimed at a domestic audience, but he wasn't stating any new policies. just the unbreakable bond with israel, and by the way, i've put in place more sanctions on iran. isis, a little bit of a new one. he mentioned muslims being hurt by isis, as well. >> you wouldn't go so far as saying that there was a withdrawal in the fiery rhetoric, on iran, on isis? riad: it's hard to tell. you could say there was a withdrawal. he didn't mention much about it, but may be because for him the audience. it wasn't a foreign-policy speech, as such. positionsiterated his in simple terms without saying, here's what we are going to do. on isis, to be fair, there was a little bit of nuance by mentioning isis is hurting muslims as well as chri

jerusalem is an example to the middle east and the world of what can be. -- what dateest middle easte should be recognized by all of humanity. >> beautiful. >> very briefly. your hopes. >> jerusalem has a role in the world. it is an inclusive role. enabling all people from all tribes -- mind you, jerusalem -- never divided into tribes jews and non-jews alike to come and enjoy the holy city of jerusalem. pasthere are future to our and excel. it can be done. it is being done. i just want to work faster to fulfill that role your after your even better than we did before. >> youthful. >> and you, very briefly on finally. >> my prayer for jerusalem, my city, our city, is that the international community will recognize the jewish people as a legitimate custodian of jerusalem. [applause] >> and that we will see ofselves as the custodians jerusalem for humanity. what aes and gentlemen, wonderful, invigorating 60th anniversary conversation. you very much. thank you everybody. >> thank you. ♪ announcer: vice president mike pence also spoke to the aipac conference. he talked sunday about moving

that statement you made following the meeting on the middle east.you surprised what you saw about the attitudes and discussions on the middle east? what can be done to change it? confused.: i was it was totally bizarre because in my first month, talking about the middle east, there is a lot to talk about. whether you are talking about has blood or isis, all the issues in syria, which is a problem. that is what i expected us to talk about. i did not expect in israel hashing session. literally listening to each overr say the same thing and over again, i knew they said it was bad, but until you hear it and see it, you just can't comprehend how ridiculous it is. [applause] here areof people getting to know you for the first time. the theme of our conference is many voices, one mission. celebrating the diversity of the pro-israel cause. can you talk of how you started to learn of israel, your affinity for israel? amb. haley: i am the daughter of indian parents who reminded my brothers and sisters and me how blessed we were to live in this country. [appla

next on the best of bloomberg markets: middle east, we talk about the outlook for middle eastern stocksthe fed looks increasingly likely to raise rates this month. ♪ yousef: welcome back to the best of bloomberg markets: middle east. governor reynard says a rate hike is likely to be appropriate soon. shery: the latest economic report reveals a modest to moderate growth in the u.s. economy. the beige book sees further tightening in the labor market with no significant raises in employment or inflation. here is what they see the fed to doing. >> it has dominated markets over the past few quarters. and is set expectations trade tensions. to escalate between countries it -- and the u.s.. the new u.s. administration is not likely to call china a currency manipulator at this stage. we are seeing the taiwan dollar do well since the start of this year. since these are not as sensitive to currency -- u.s. currency we haves, it is because this reflation story that is very much part of that. if we were to see a fed move in march and dollar strength would liketo be in currencies dollar korea, dolla

were you surprised what you saw about the attitudes and discussions on the middle east at the u.n.hat could be done to change it? >> you know, i was confused. it was totally bizarre because in my first month talking about the middle east there's a lot to talk about and whether you are talking about hezbollah or isis, all the issues in syria, which is, you know, a problem, that's what i expected us to talk about. i didn't expect an israel bashing session and literally listening to each member say the same thing over and over again, i knew they said it was bad, but until you hear it and you see it you just can't comprehend how ridiculous it is. >> so -- [ applause ] >> a lot of people here are just getting to know you for the first time. the theme of our conference this year is many voices one mission. celebrating the diversity of the pro israel cause. can you talk a little bit about how you started to learn business real, your affinity for israel. >> well, i am the daughter of indian parents who reminded my brothers, my sister and me every day how blessed we were to live in this cou

jerusalem is an example to the middle east and the world of what can be, what the middle east can be.em, my wish, should be recognized not just by the united states, but by all of humanity as a light unto nations. >> beautiful. nir, very, very briefly, your hope for the city's future. >> jerusalem has a role in the world. it's an inclusive role. it's enabling all people from all tribes, mind y jerusalem was never divided into tribes, jews and non-jews alike to come and enjoy the holy citof the jerusalem, connect our city to the future and the past, and excel. it can be done. it is being done. >> beautiful. and yossi, very briefly and finally. >> my prayer for jerusalem, my city, our city, is that the international community will recognize the jewish people as the legitimate custodian of jerusalem and that we will see ourselves as the custodians of jerusalem for humanity. [ cheering and applause ] >> ladies and gentlemen, what a wonderful, energizing, invigorating 50th anniversary conversation. thank you very much. thank you, everybody. thank you. ♪

were you surprised that you saw about the attitudes and discussion on the middle east at the u.n.?can be done to change it? >> i was confused. it was bizarre because in my first month, talking about the middle east, there is a lot to talk about. whether you are talking about hezbollah or isis, all of the issues in syria which is a problem -- that is what i expected us to talk about. i did not expect and israel bashing session. listening to each member say the same thing over and over again, i knew they said it was bad, but until you hear it and you see it, you cannot comprehend how ridiculous it is. [applause] here arelot of people just getting to know you. the theme of our conference this year is many votes is -- many can you talk about how you learned about israel? >> i am the daughter of indian parents who reminded my brothers and my sisters and me how blessed we were to live in this country. [applause] >> the truth is i have seen so the similarities between israeli culture and the indian culture. we are very close knit, we love our family, we have a strong work ethic, we believ

. ♪ yousef: welcome back to the best of bloomberg markets: middle east.n musk's vision for a superfast transport system he says is a mix between concordes and then air hockey table is on the way. they are in talks with sovereign wealth funds to bring the project to the region. here is hyperloop one's ceo. let's start with a preposition in terms of opportunity. i will pull up this amazing function. with as a map of the gpp different countries. what i have added are the road networks, which are quite scarce in terms of connecting different countries. you can see in the uae, the road network is more dense. how long would it take me with your system to go from dubai or abu dhabi to riyadh? >> with our system we could go to any city in less than an hour. considering the gulf region does not have developed rail network, considering some of the challenges we have with road systems and their development, it is a new mode of transportation that has the speed of an airplane, a safe environment, and allows us to do that at the cost of a bus ticket. and transform the

♪ >> welcome to the best of bloomberg markets middle east.et's get the major stories driving headlines this week. president trump signs a new travel order. iraq x-games the ban this time around. upplies from libya are interrupted. retalk to hyperloop one about its plans to bring a futuristic transport system to the gulf. plus, a property developer has garnered international attention. it is business at home, will be in focus. we spoke to the group chief financial officer. >> i would like to start off with your sense in terms of the operating environment. this chart on bloomberg tells the story in terms of high-end dubai property. this goes all the way back to 2009. can you see the downside pressure. this is the paris per square foot. this is for high end villas and apartments. what is your take? >> i think to understand where we are today, we need to take a step back and look at it precrisis, going into the crisis and coming out of the the crisis. up until 2008. the tube mark had been growing. in 2008, not unlike the rest of the world, dubai

that could prove to be contentious here in the middle east.racy alloway joining us from abu dhabi. thank you for that reaction from the middle east and also remy and a sincere joining us from new york good let's look at how the travel ban may impact the markets. the aipac cio at deutsche bank wealth management. your time today. president trump's speech to congress was pretty well received from what the markets were doing. the tone was pretty positive. now that we have this new travel it, sort of ban 2.0, will affect investor sentiment towards the u.s. markets come especially when it comes to foreign investors? yes, so we think it should not have a big impact. if you look at the first travel ban, the markets, i wouldn't say they ignore this, but they did not have much impact on the overall market development. as you rightly said, it is for investors like us more important how much of trumps policy for example, the infrastructure spending and in particular his plans to cut corporate tax, how this is going to be implemented. i think that is what

the middle east capital. you want to set up a bank in the middle east? you in those talks? >> and the chairman of the land think of the philippines. we have been mandated by the president to establish a banking presence in the middle east for ease of transactions with our os w's there. our people have been surveying the areas. we have look at dubai and bahrain. meeting with had a the chairman of the bahraini chamber of commerce. he was saying it would be very good for us to establish a bank there. reporter: when do you think a decision would be made? >> by august of this year. by september or towards the last quarter of this year we will have a banking presence in that area. reporter: i've also heard you're refining attract oil in the philippines. is that happening? improvinglooking at their investments in the philippines. refinery wouldl be perfect for us. reporter: how about brexit? 200,000 filipinos in the united kingdom. fouling --een the falling pound sterling which will be reduced coming back into the philippines. will be the direct impact of that

you're watching bloomberg markets middle east. i'm tracy alloway. i'm yousef gamal el-din live from kuwait city. let's get you up to speed. we need more malls, because the company is said to make a bid for soup.com challenging an existing office of -- offer from amazon. they have offered about $800 million for the online retailer. is also converting a deposit on $500 million. souq.com could not be reached. uber has -- tracy: uber has suspended its self driving vehicle after it was involved in a high profile crash in arizona. the company's is they are not responsible for the accident. tests until it can complete an investigation. brazil accounts for 20% of global beef exports and 40% of chicken. the industry has been accused of bribing health inspectors for products. china is due for monday. china dairy holdings, the largest cattle arm operator plunged as much as 91% in hong kong. four months ago, they said the company was worth close to zero. the crash remains unexplained became a day after they met local lenders. the plunge wiped more than $4 billi

the middle east as an example of what can be done, not what can't be done.omacy in the prime minister's office or representing a party, i'm always reminded of the fact that i'm basically a two-hour drive from isis. i'm a four or five-hour drive from the civil war in iraq, three-hour droive from the civi war in syria. here we are in this capital of israel. jews of various stripes and observances and political outlooks, christians, muslims debatingeb

and we cared about the oil because it was 100% of european oil came from the middle east. so we wanted to make sure that we had friendly arab regimes that were -- if not aligned with the united states, as least keep the soviet union out. that's the goal. >> sunday night at 8:00 eastern on c-span's q&a. >> c-span's washington journal, live every day, with news and policy issues that impact you. coming up tuesday morning, tax foundation economist kyle will frame the upcoming congressional debate on tax reform and examine democratic, republican, bipartisan proposals. then north carolina republican congressman walter jones and california democratic congressman john garamendi will join us to discuss a bill they co-sponsored calling for a complete withdrawal from troops from afghanistan. be sure to watch "washington journal" tuesday morning. join the discussion. >> white house press secretary sean spicer was joined by attorney general jeff sessions at today's press briefing to talk about immigration and the issue of sanctuary cities. this is an hour. >> hi, guys. good afternoon.

>> welcome to the best of bloomberg markets middle east. juries driving the headlines across this week, oil on a roller coaster ride. battles are increasing output in the u.s.. >> president trump won praise from saudi arabia's ruling family. shares hitting 70 or higher on merger talks. democratic route between turkey and other lands escalated. president erdogan called the dutch fascists. >> you can stop our foreign ministers playing all you want. -- plane all you want. about diplomacy. we will evaluate all of these accordingly. .hey do not know politics they are so shaky and cowardly. >> erdogan's relations with the eu turning for the worst. for more we spoke to alastair campbell. >> i think it is complicated. there's lots of stuff going on. happened, itt has probably explains trump and brexit, the financial crisis happened. a lot of people felt those who caused it are just carrying on regardless, and they have paid a price. the may be some truth in that. what politicians like trump have brexit and ae referendum is the ability to exploit an

bob malley, former senior advisor to president obama and the middle east.le flournoy, former undersecretary of defense, and martin indyk, former everything important on the middle east, okay, for several administrations. i want to begin by posing a question to all of you. what strikes me about this moment, moments like this review followed this region and this conflict most of my adult life, is haven't been here before. haven't been to a time and place where israel was more free to be whatever it wanted to be. i can't imagine a time when the country -- country surrounding it were weaker. when europe was more distracted, and when we had an administration in washington that either didn't care or wouldn't care about whatever israel does. martin, start with you and it will go down the panel. what do you think this means? what do you expect to come out of this unique situation for the israeli government right now? >> not much. [laughter] >> thank you. michele? [laughter] >> go ahead. >> first of all, i just want to say hi, everybody. it's great to see you here i

oil is never far from our hearts or minds in the middle east.ake a look at how is -- it is trading. it had a bad week last week. it is still down, but paring losses somewhat over the past 30 minutes. we now have brent down .7%. wti crude down .89%. the picture is not that rosie. here to talk more about that picture is anthony. he will point out that oil's fall from grace has something to do potentially with hedge fund positioning. they have been cutting their bets on wti, according to the latest data release. anthony, is this the reversion to the mean we have all been expecting? we did see investors hold up huge positions when it comes to oil after the opec production agreement. indicate thatuld fact that traders are cutting their long positions and going more short, according to what we would see from the trading day -- trading data. we expect that to continue going forward. it indicates that there is somewhat of a loss of confidence. that opec can deliver on the cuts, so that they can meet their targets to bring down the stockpiles. it will lo

. ♪ >> this is the best of bloomberg markets middle east.ait's minister believes his country will be good shape in prices can be maintained between $50 and $55 a barrel this year. they are assessing the opec led output cuts. have a listen. >> we are not surprised right now that the prices have fallen back. the prices have fallen back not because there is non-conformity. but they have fallen town because the storage has not moved yet. as we said earlier, there are reasons why the storages have remained as high as they are to today. we will see the differences in the third quarter, maybe later in the second quarter. as we stated in our press release today, conformity was very satisfy for the committee. conformity overall is good. we are urging other countries to follow suit to fulfill their requirement, and hopefully that will happen soon. >> when you talk about inventory levels, which inventories do you usually look at? -- t u.s. inventories, or e or oecb invin doris? >> now what we were hoping actually at the beginning was that the u.s. inve

welcome to the best of bloomberg markets middle east. the straight driving had brought -- headlines, the u.s. and -- onn on electronic devices some flights from middle eastern and north african countries. we look at the impact on business. another downgrade for turkey. this time cutting its output to negative because of political uncertainty. success, iion for would be told us about plans to issue bonds to fund acquisitions. healthy earnings report. says its, saudi arabia ratings cut was not a surprise trade we spoke to the global head of the rating agency. here is what he said. >> primary reason is the impact on public finances, even though oil prices have started to come up again. when we look at a fiscal balance of last year there was a deficit . an enormous fiscal challenge in dealing with lower oil prices. the government has a plan to address that, we think the deficit will be lower this year, less than 10% of gdp. this used to be a country with a government that of zero, now it is rising with the deterioration of oil prices. the elo

objectives in the middle east and that's what we have to protect., by the way, israel has a real stake in the kind of deal that comes out of the syrian negotiations. if it ends up with iranian proxy forces in the golan heights, that is not a good deal for israel. so israel really has to care about how this comes out. the other thing i would say is that, it's very difficult to separate all these issues, even what you were talking about with martin. if trump really does want to make substantially more progress, vis-À-vis isis, you have to worry about iran. because right now i ran is pushing baghdad to maintain a hard line against the sunnis inside iraq. as long as the approach of marginalization continues, we will have a very hard time even if we are successful in mosul with iraqis keeping isis out, keeping you from coming back again and again and again like a terrible, terrible weed. same is true in syria. you cannot follow the isis problem -- sol -- unless you get a solution to the broader syrian a problem that doesn't completely marginalize the maj

a quick roundup of stories from the middle east.t has tested a sophisticated russian-made air defense system. it is capable of tracking and striking multiple targets and involved the range of flying objects, including missiles. it received the system last year . russia delayed delivery after strong objections from the u.s. and israel. yousef: turkish president erdogan says that terrorist should be on trial. erdogan said that a reporter was jailed because he was a spy. tracy: and the world fell top independent oil trader is -- the world's top independent oil trader is leading a deal to buy petrol sec. .raders are -- petrol ofisi market share of roughly 23%. sticking with turkey. inflation in the country has surged to its highest level since 2012. higher energy prices pushed february's rating up. yousef: for more on this story, we have our global stories partner. thank you for coming on the program. i put up a chart for additional context in terms of how inflation has built. a line of blue right here and then you have the line in yell

iran fans the flames of sectarian warfare in the middle east. russia remains a threat to the post cold war world order. in the coming years, dictator will rise and fall. geopolitical landscapes will shift. threats to our nation will evolve. but as i look out over this vast horizon of uncertainty, i remain optimistic. and so should you. that is because for all of the challenges we face here and around the globe, one thing, one final thing remains constant. our unbreakable alliance with israel. [ applause ] so i want to say a final thank you. thank you for being here. thank you for using your voice for good. on behalf of congress, thank you for sending a clear and unequivocal message to the world that the united states stands with israel now, tomorrow, and always. god bless you. god bless the united states of america. god bless israel. good night. thank you. [ cheers and applause ] ♪ >>> please welcome aipac managing director for policy and politics, annie christiansen. >> good evening. our next guests are two

but if we all crave peace in the middle east why don't you help the only democracy in the middle eastlieves in freedom, gives people the rights? that's the place we need to be. when's even more importantly when we do, we look at our budget, why don't we fund our friends first? that's why israel will always win and be the first investment. >> thank you. thank you. congressman mccarthy, congressman hoyer. >> i know kevin and i want to thank all of you because what you do every day, every week, every month, every year to make sure that our friends and our neighbors and members of the congress know exactly what the issues are, how critically important they are and give us good advice and counsel how to make sure both israel and the united states remain strong and free and successful. thank you all very much. >> thank you. [ applause. >> thank you very much. ♪ ♪ ♪ >> please welcome to the 32nd congressional district of california, grace napolitano. ♪ >>

. 100% of european oil came from middle east. we wanted to make sure we had friendly arab regimes that would keep the soviet union out. that is the goal. >> sunday night at 8:00 eastern on q&a. >> the house ways and means committee worked on a bill that would require the treasury department to provide the committee with the president's tax returns and other financial documents. introduced by commerce and bill pascarella.

they remain our strongest ally in the middle east. [applause] rep.n: finally, i would like to address something that hits pretty close to home for all of us. in recent months, we have seen an uptick in vandalism, acts of desecration, bomb threats against jewish communities nationwide. i've seen it and my own backyard. in whitefish bay, wisconsin, right on the right side of milwaukee there have been to threats on a local jcc. i was there in february. i mean, just think about parents getting the calls in the middle of the day. it makes you turn your stomach. these threats and attacks on jewish americans are vital and and they are disgusting. [applause] rep. ryan: they are rooted in a poisonous ideology of hate and they must be wholeheartedly rejected. [applause] rep. ryan: so what i want to say to you was this. you're not alone. we stand with you. i stand with you. my colleagues in congress stand with you on the american people stand with you. together we will read out this evil wherever it may surface. we are all in this thing together. friends, we ar

rather, it remains an agent of instability throughout the middle east. nefarious actor that continues to undermine american national security interests and our efforts to partner with countries throughout the region. working to protect civilians and build democratic government structures. consider syria. even as the united states and our partners make progress at beating back isis and work together to deliver desperately needed humanitarian relief to besieged civilians. basher al assad presses on with his brutal campaign. let's be honest, we all know that assad's continued grip on power is in thanks in large part to his allies in moscow and his friends in tehran. russia is prolonging this conflict. all for the purposes of trying to maintain one friendly government in the middle east who will stand by its own brutal leader. meanwhile, as russian bombs rain down on syria and hospitals, as russian bombs rain down on syrian homes and on humanitarian aid convoys, putin is content to sit back and watch western europe struggle with the displacement of millions

another middle east crisis is on the way for the u.s. police launching major investigation in this woman. plus this flying at the nascar 400 after kyle bush spun out on the track. the argument after race that left bush with a bloody forehead. >> jon: president trump catching some criticism for his comments about the press sense taking office. some news outlet calls his attacks on mainstream media unprecedented. baltimore sun media critics said not so fast. former president have done worse. >> with trump, the thing is people have taken it to this extreme thing. almost gotten hysterical about it. if i was him, i'd say, every time we engage the press, we are attacked. we're shredded. let's let the press go on its own and see how they like it. why engage at that level if we're going to get pounded. that's a reasonable thing for him to say. you know this thing when we say, he's the worst war on the press ever. i wrote about that last week. it's not the worst war on the press. he hasn't done what obama done. not yet. >> jon: what do you think

security council meeting on the middle east. ambassador haley came out to the past and articulated some same truth. the discussion today of the middle east, was not about obamacare. it was not about the money and weapon that it was provided by terrorists. >> it was not how we old bashar al-assad contractible. >> ambassador haley said, instead the immediating focused on criticizing israel. the one true democracy in the middle east. [ applause ] [ cheers ] she closed by saying, "i am here to say the united state." will not turn to a blind eye to this anymore. >>. [ cheers ] i think you would all agree that this is been a pretty refreshing change. [ applause ] . >> please join me and welcoming the asian of that chain and the united states ambassador to the united states and honorable hick nick ao nickeyy anyw-- the honorable un states, nikki haley. [ applause ] >> thank you. >> thank you so much. >> that's amazing. [ applause ] >> ambassador, i think there is a little loop worm, i am not sure what the reception is going thomas hock

charles: thank you for a much, deputy director of the imf for the middle east and central asia, hereo talk to us about the economic impact of the syrian crisis. before leaving, let's take a quick look at how the european markets are faring this hour. european indices are trading lower at the moment. investors are digesting the new guidelines for the potential brexit deal shared by donald tusk this friday. they are taking in the cabinet reshuffle taking place in south africa with the prime minister being dismissed by president zuma. the ftse is down .07%. molly: charles, thank you. it is time now for our press review. by allison here sergeant. hi, allison. you will start off with reaction to the u.s. secretary of state's visit to turkey. he is in brussels for the nato meeting, but ahead of that -- or i should say prior to that, he was in turkey. allison: that was the highest level state visit between the two countries since the election of president trump. you can see the hand-check -- handshake along with turkey's new hope for energy and u.s. ties. turkey has been hoping the trump ad

we cannot forget we are in the middle east.orget it is all about oil at the end of the day. especially for saudi, which is the biggest stock market here in the region. if we do not see clarity in hows of the price of oil, much of a recovery we can see in the domestic economy this year? what exactly companies are going to consider, in terms of spending and capex along 2017, than the ipo activity when not be as intense as a lot of people are seeing at this moment. considering oil between 50 and 60. this is the scenario we heard from, from specialist of andstments and -- investors bankers. it would be ok, we could see activity. if things do not go as well as expected in the beginning of the year, of course it would not be as exciting as we hoped. tracy: always nice to have you on, always bringing us the latest on gulf markets. let's bring in someone else for some or agreed to in we are joined by the head of research at our friends capital, he is in apple dobby. -- abu dhabi. when it comes to deals in the u.s. markets, are you as e

they address security threats israel faces in the middle east. this is 45 minutes. >> good morning aipac. good morning. what an honor. lillian, congratulations on your outstanding presidency. it's great to be with you again this year. i also want to thank aipac's executive director. i am just thrilled to see all of the students in the audience. and you, i see our future. i want to especially recognize the nearly 1000 californians who are here today. [applause] of course, including my dear friends and aipac board members. i am proud to say that among the many voices represented here, the california delegation is the largest and hopefully the loudest, having grown up in the bay area, i fondly remember those jewish national boxes that we would use to collect donations to plant trees for israel. years later, when i visited israel for the first time, i saw the fruits of that effort in the is really ingenuity that has truly made it desert move. i soaked in the sights and sounds and smells of jerusalem. i stood, devastated by the silent testimonies of t

how is the middle east reacting to the president's call to fight radical islamic terror?he valiant taste times of death, but once!! uh, excuse me, waiter. i ordered the soup... of course, ma'am. my apologies. c'mon, caesar. let's go. caesar on a caesar salad? excuse me, pardon me. what's not surprising? how much money matt saved by switching to geico. could i get my parking validated? fifteen minutes could save you fifteen percent or more. >>> last night's congressional address was so welleceived the white house is scrapping the travel ban. the new travel ban will be signed next week. and will exclude green hard holders. last night, president trump used language his own national security adviser will not use when it comes to combatting terrorism. >> our obligation is to serve, protect and defend the citizens of the united states. we're also taking strong measures to protect our nation from radical islamic terrorism. >> so, how is the president's speech playing in the middle east? i'm joined right now by cnn's jomana karadsheh. over here, he's getting even high marks for s

welcome to "bloomberg markets: middle east". i am yousef gamal el-din in dubai.ur top story today, north korea reporting missile launches early this morning before the markets opened. markets look at how reacted, we saw a spike in defense related stocks. let's jump into my bloomberg. i have the industrial space right here. .6%. this little bit on a day where it is subdued and volumes are not quite there, defense stocks up him a 1.5%. have a look at some of these names, five within that space. that said, history tells us that when you have these spikes on the peninsula, you get a spike in stocks. and you get a drop subsequently. japan ande story, south korea have issued a strong protest. we are looking at reactions from the u.s., and most importantly china. guests oned by our all this. what do we have here? it is just ratcheting up relieved attention. this,h, it is kind of something we have not seen in a long time. the missiles are fired routinely. the difference here is a comes npc. goingas its i . so these things add with the latest mental launches some addition

tony blair knows a lot about the middle east. unquestionably. is extremely well—known and well appreciated in the united that. we will not hang him out to dry as they try to do here. so, trump thinks that dogmatic black and white level. ican that dogmatic black and white level. i can seem very much, you know, taking tony blair on. as i said earlier, donald trump worth $12 billion is probably the only guy who could afford tony blair. let us look at the sunday times and the two stories there that caught our attention. the first of which is the picture. tells the story behind the picture. tells the story behind the picture. i stared at this for sometime i first saw it. i'll try to work out why donald trump had a slab of wax stuck to his head. it is a map of palestine. a map of palestine. it is actually his tie which has blown up in the wind and you can see it as sellotape on the bottom, which holds it together. what a treat. i need to learn from that because my tie always looks like msn splits at the bottom. what i obviously need a sellotape to hol

have of our students were off the middle east and from elsewhere.ose nations that want to be on our side look at the last eight years than they would have been. argue the good guys? why are you pulling out of iran? you stabilize iraq and then it's time to go home. and what happened? isis have been. but the trump administration wants to do is rebuild all those relations with the people who want to be our friends. secondly, very clearly the president has said again and again, we are not into invading other countries. we were founded as a nation to respond against imperialism. what 1776 about question that it's about individual liberty and freedom. it's not imposing yourself on somebody else. we want to help those people who want to be our friend to fight their wars for them selves. .. with our advisors. but we have to help them win this war for themselves. [applause] >> and if i could just add, i think it's very important that we not give american muslim sort of a path as a minority group in america. because we can do things in this country to reform

, taking on some very difficult opposition, but understanding that the future of israel and the middle east and the future of this world requires us to fight for sane, progressive, foreign policy ideas. and i'm further delighted to be in the company of friends from israel and from the -- all over the middle east, and in fact all over the world. who i know in these very challenging and difficult times, will continue the fight for a world of peace, a world of justice, and a world of environmental sanitity. i caught a best bit of the discussion in last panel and one panelist made a very important point state and despair is not an option. now more than ever. we have got to continue the fight for justice at all levels. and let me note, as i begin, that in the last several months, since donald trump's victory in presidential race, there have been a significant outbreak of anti-semitism in our country. i, and i know all of you, are alarmed about the desecration of jewish cemeteries, about bomb threats against jewish organizations, and about more and anti-semitic language. when we see as a nation v

financing, more than 40 countries that companies across middle east.ore than $10 billion based on the equity holdings. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries, we have the world business covered here on bloomberg. twoy: let's turn to stories. the u.k. is another step closer to quitting the european union as parliament gives the prime minister permission to launch the process. in the u.s., closer to a first rate hike of 2017 as policymakers prepare to meet a snowy washington, d.c.. our policy editor has more. reporter: a much-needed brexit victory. that is what theresa may achieved as parliament passed legislation allowing the 50,rnment to invoke article a step toward actually leaving the european union. this occurred as the house of common under current -- -- that would have restricted her movement in the european union. forcing her to consult lawmakers may once again -- may has once again the time to negotiate brexit at her choosing. the queen it gives her royal assent. the green light f

that treats the only democratic free market economy in the middle east as the cause of all of the region'senges. now the last time i checked, israel stands alone in a desert full of despots that have to regard for democratic freedoms, and the rule of law. let's be clear, i reject the bds movement, whether it be on campuses in france or london or right here in the united states of america. [ applause ] bds activists, bds activists turn the other way as bashar al assad and putin bomb civilians without hesitation. they ignore the cries of people being persecuted in venezuela and cuba. they demand that israeli academics in every field of study be silenced. that students who are jewish, pro-israel and believe in a lasting and secure home for the jewish people are silenced, but we must not be silent. we must tannstand together to ee that the letters bds stand for what they are, bias directed solely at one people and one country. i will use every avenue at my disposal to call out a movement that is stained by anti-semitism. [ applause ] whether it is the delegitimatization of israel by the united

we need a steady hand in the middle east. i'm not convinced that mr. friedman is qualified for this job with no diplomatic experience and a history of extreme positions and imtemperament language, his attrition is too little too late. i'm worried that by ignoring these huge red flags with his nomination, we run the risk of a diplomatic incident that could needlessly increase risk of conflict in the region. and, therefore, mr. president, i must vote no on this nomination, and i yield the floor, mr. president. a senator: mr. president? the presiding officer: the senator from minnesota. mr. franken: thank you, mr. president. i rise today to talk about president trump's selection of david friedman to serve as united states ambassador to israel. mr. president, our relationship with israel is of tremendous importance. we are strong allies and we have a strong military, diplomatic, economic and cultural relationship with the state of israel. as a jew, the importance of that relationship is something that i feel in my bones. and as a senator working to make ou

i've had to say that is it for this edition of "bloomberg markets: middle east."ive from the region at the same time tomorrow. this is bloomberg. ♪ announcer: imagine wiping away the appearance of crepey skin. on your arms. announcer 2: on your legs. announcer: and even your neck. announcer 2: what would your reaction be? >> can i look now? >> yes. >> are you serious? oh, my goodness. announcer 2: and now, a paid presentation for crepe erase. announcer: a breakthrough, targeted body treatment brought to you by trusted gunthy renker. announcer 2: and featuring emmy award-winning actress jane

seats withll trade the middle east, why don't you help the only democracy in the middle east that believesfreedom, gives people the rights. that is where we need to be. what is more important, when we look at our budget, why don't we find our friends first? that is why israel will always win and always be the first. >> thank you, congressman mccarthy, congressman or. crexendo kevin and i want to thank all of you because what you do every day, every week, every year is to make sure your neighbors and friends in our country and members of the congress know exactly what the issues are, without critically important they are, and give us good advice