in the uae, conservatives would travel to the uae -- consumers would travel to the uae.re looking at a softer pace of growth. the lowest pace in terms of activity. of the region, will probably be less pronounced. passports. couple of talk to me about brexit. is that impacting the tourism in uae? >> there will be a further impact. we saw some data around the time of the brexit referendum that showed that u.k. travelers declined relatively sharply which is to some extent understandable. rate, youxchange would suspect that that would continue, that it would be harder for british tourists to make the case to go to a region which is dollar-based. budget, in terms of spending, the imf has given a report on saudi. , thee fiscal latitude ability to counterbalance this slow to -- >> what we are looking at is a fiscal measures being brought in spirit spending is under pressure because of the oil pressures in terms of revenues. for the time being, the tendency will be to be relatively conservative. you might say that there needs to be some offset to try to boost growth. if oil pric

this takes me to the point that you have 23 banks in the uae. money or is there a case to say we have too many banks on a per capita basis and it is just too many? >> exactly. there is no justification at all for these independent banks whatsoever. markets,ok at bigger say in the western world, they would be small players. one is trading at half the price of book. some shareholders are not happy with management. the shareholder structure is supportive in controlling both the banks, and the market share would drop to a more respectable 15%, which is like a minimum to get the efficiency drive. b's balance sheet is under levered, that will drive shareholder returns and dividend sales to the shareholders, so there is a lot to be said. ratherl prices are 50 than 100, it makes a difference for shareholders. manus: it does not seem like there are strong structural reasons that these mergers need to happen at this point. indi: is there a worst-case error are when we see the consolidation trend not take place in the industry, either systemic issues? >> s

tourists into ras al khaimah and the uae.ng destination for americans, and also americans enjoy the authenticity. they connect with the days of aladdin. 1001 nights, ras al khaimah promotes that. >> you are still attracting uk visitors despite the plunge in the sterling? >> we've seen a 20% growth from the uk market. uk travelers are loyal, resilient, through good times and bad times they continue to travel. we see them as sun-seekers, they seek great beach resorts, we have an abundance of those. we have great value for money. great beach resorts, five-star product priced at four-star. >> thank you very much. >>> that is it for today's show. just a glance at the u.s. futures to show you how we're shaping up for trade this afternoon. slightly mixed market on the implied open. have a fantastic weekend. i'm louisa bojesen. >> i'm carolin roth. have a great weekend. >>> good morning. the trump rally, the dow cli climbing to an all-time high. >> and it's singles day in china. a live report coming up. >> and disney's results fallin

uae energy ministerialal masrui mead a speech at the beginning of the event. >> the glut is almost gone from where it was one year ago. and this is a positive thing for us to think about. i think we are at the bottom of this cycle. >> the secretary-general of the organization of the petroleum exporting countries, opec, stressed that all member nations have confirmed their continued commitment to the agreement made in september to reduce output. japanese companies and organizations are also taking part, showcasing japan's cutting-edge technology. >> translator: we want to show how japan can help the uae with technology cooperation and human resource development. >> japan is facing the challenge of renewing its rights to an offshore oil field in the uae. the contract expires in 2018. >>> the japanese government plans to create a so-called information bank to tap the huge storage of personal data on the internet. that's in a bid to promote flne business. this comes amid the growing popularity of iot technology, the internet of things. in a proposal compiled by the industry ministry tax for

kuchar's oil reserves as well as slanted the exports to the uae. home from a recent roadshow covering the tar, of a dobby, and to buy. of hundredscharge of industrial projects. they are identifying projects -- pockets of opportunity and breaking into untapped market like russia and iran. buildrse, they want to economic and defense ties with russia and are planning on a state visit, possibly next year. manus: why the sudden interest in the middle east? why the sudden interest in these kinds of markets? >> hi, manus. the numbers alone till the story. the improved investment and at $2.2 billion. we are living in highly uncertain times. they have made a show of pivoting away toward china and continues to dish out harsh words towards washington. many are speculating that he will be friendly with resin -- president-elect donald trump. we did have the president of the electronics industry body on the show this morning. held back, have been and american firms have been contingencyusiness plans and orders on the ground have been canceled. there does seem to

the relationship of the uae with the world and how that ranks in terms of china.hina is the second biggest relationship for the region. good news today? >> absolutely. i think the chinese economy has been on the upside this year it back in january, we had the yuan depreciation, and there were lots of stories of how that would drag down global growth this year. that has not happened. we see the chinese economy has managed to outperform all expectations. i'm particularly impressed by the factory and pmi numbers of thatcame out because outlines the shift of the manufacturing and nonmanufacturing. good news for the region. i think you saw earlier this month -- last month, the uab changed its policy towards chinese visas, or applications. there is definitely an opening up to the chinese economy. angie: well, tarek, when you take a look at the chinese economy, it does show stabilization. but the question really is the policy outlook right now because the first half growth was all about that investment led infrastructure and the like. at what point when you have such a d

it's ultimately down whether to saudi arabia, the uae and ckuwat are willing to cut production. >> the status quo wouldn't mean any change for the oil members in fundamentals. >> that's highly likely. there's a normal summer to winter decline in production, so they may well frame a deal which is just a normal seasonal change, even then the size of the cut they're talking about is relatively small. almost 1% of world demand. and what's in control of oil markets is tight oil in the united states. >> we are seeing this spike in the price of oil. it's bounced within the last half hour or so as those comments have come out from the secretary-general. spiking some 3%, 4%, something like that on the price of oil. what would the consequence be if we don't see a deal reached? stranger things have happened. there's a lot of players in this that have to agree. >> there will be a lot of dissecting, if there's some form of deal, there's some dissecting as to what that means. the rise in oil price, it will reverse if there is no deal, or if people look at what has been an agreement, and they think t

plan to build a hyperlink transportation system is moving ahead at hyperspeed and it looks like the uae will be the first country to get one. they signed a deal to engineer 899 mile mailed to make the trip in 12 minutes. these are renderings of what the hyper parts and poor decisions looks like the one hopes to test a full-scale prototype early next year will >>> there's good reason to fly on the recent desirable days this. from your airline miles southwest the city day. it will also give you miles for tuesday. on other days between now and then the airline will get double miles. the messages that although the over the cubs release take a deep breath they were not the official holiday. it turns out those cops arrive tomorrow. you may remember last year starbucks cups caused a stir because they removed some holiday imagery. early design links art holliday images have returned this year. just released a green with a sketch of hundreds of people that they said was mrs. is a unity. >>> it looks like a new item on the menu at arby's is a big. this gives you a clue. front is trying to benniso

i spoke to one oil minister, the minister for the uae, and he said it needs to be man news.here can't be compensations to participation in a round of cuts. >> the expectation that if we own something, we would like to agree on something that is always sustainable and that benefit everyone. and also get everyone participating. but don't ask me how, who, and when before we meet. >> reporter: the concern is that the king pin of opec, saudi, would just walk away if they don't get cuts from all members, including iraq and iran. these are some of the big questions that remain for the market with the oil price falling around 4% on tuesday. as traders got very nervous about the prospects of a cut. where the oil price will go if there isn't a cut or some are talking us down to the low $30 barrel level, and if there is a cut, some are saying it could go as high as 55, $60 a barrel later this year or perhaps early this 2017. for "nightly business report," this is steve sedgewick, in vienna. >>> still ahead, stop the presses. why demand for real news is increasing as fake news spreads.

woman: trump puts his company name on a resort located in the uae that i includes a mosque.rump makes millions of business projects with businessmen from severalal muslim countries. most of f them are hotelels, resortsd real estatetes. his controversil statements towards muslims forced the landmark group to stop dealing with him. val: yusef el hussaini, a well-known egyptian commentator, had this to say. translator: muslims inside and outside of the states, americans, students, visitors. he mixed all of them together. you have to listen to his speech. his extremist speech isn't any different from any terrorist's or extremist's. listen to this. trump: donald j. trump is calling for a total and complete shutdown of muslims entering the united states until our country's representatives can figure out what the hell is going on. [cheers and applause] translator: the issue is not donald trump's words, the issue is the cheering and the applause we can hear echoing to his words. val: ironically, the one rare uplilifting moment in the campaign i involved a muslim, khizr khan, the fat

i was in istanbul, spoke so the uae oil minister and let's hear what these gentlemen think is the current state of play. >> anything is on the table when we meet in that closed room. we did not meet officially to discuss it. we hear the rumors that you hear, but we're ready to discuss any proposal provided that everyone is participating. that's the fair statement from doha. >> the value of all the markets increased because the announcement that russia was cooperating with president putin and the position we want to work together, open the door to get a consensus. >> translator: i think we're having these discussions in the right context. we've been discussing the issue of competition because of efficiency. >> a lot of people are saying this is one of the most important opec meetings in years. i won't disagree, but it feels a familiar meeting to me, ie russians potentially coming into town to talk about a deal but walking away again without cohesion, division between tehran and riyadh. riyadh and allies pushing others to get production cuts, and a host of other ministers from libya to nige

we see that in the next five thes as saudi arabia and uae will have $50 million worth of online listedses. and it was virtually zero, nothing. when you start there, there is a tremendous upside for growth. again,you could say that especially when you start from zero. thank you so much for joining us. south korea's most valuable company may split as soon as next year. looking to turn itself into a holding company and will have more to say at a later date. but for now, let's go to our columnist to joins us now. samsung said yesterday they will give back cash. but you are not satisfied with this offer. why not? it wase reality is, it not an offer but a rebuttal to what elliott had wanted. they are sitting on a lot of trillion,t $18 translating to 17 billion u.s. dollars. cash in theve yuan shorter term. and there will be a shorter term cash flow in the future. -- still still sits on sit on buckets of cash. they think they need to sit on roughly 60 billion u.s. dollars in the futuree when they need it. they do not need that much cash. if they did, they could tap equity markets. doesn't sam

we will be right here at the start of your trading week in the gulf sunday morning, 8:00, uae.. this is bloomberg. ♪ ♪ it is 1:00 p.m. in hong kong. following corporation , down 3.6% after net income came in at $1.6 billion. the company has raised its full-year net forecast to ¥3 billion. the plan to pay a dividend of $.50 in the second half. tumbling, nikkei says the u.s. unit is planning to file for chapter 11. the company has been seeking a

was manus cranny speaking to the uae minister of youth affairs. u.s.nt-elect donald trump meets with foreign leaders. the focus will be the future, preview next. ♪ haidi: welcome back, you are watching bloomberg. i am haidi lun in hong kong. tracy: and i am tracy alloway in dubai. president-elect donald trump meets his first foreign leader on thursday. japan's shinzo abe, let's discuss that with bloomberg's reporter isabel reynolds. most important issues that concern japan and the rest of asia about a trump presidency? trump showed a great deal of concern and confusion in japan during his election campaign, firstly on the issue of trade because he has rejected the transpacific trade agreement, which is important to shinzo abe for trade in the economy. also, the alliance between japan and the u.s.. donald trump has threatened to remove u.s. troops from japan unless japan pays more for their upkeep. was already paying 5% of their upkeep. they do not feel it is a good idea. there are growing concerns at this point, those are the burdens that abe will be t

certainly the uae, dubai very prominently. are many countries in the region that still rely on big budgets. libya is in dire need of funds. war and needsng a a higher price and obviously saudi arabia, which is the largest economy in the region and continues to rely on a significant public expenditure pipeline. desley: we are fast approaching the end of 2016. what conversation will we be having this time next year about the oil price? >> i will see what my crystal ball says. i do not have a feeling that the oil price will be vastly different next year at this time. it is hard to say before we get to the opec meeting. biggest call for tree 17? >> oil more or less where it is now, diversification efforts up in the region. but i have said on this show before overall, i think this is a healthy thing for the region. the belt-tightening needs to be done sooner rather than later. if this can be done, then why not? desley: thank you very much. the chief economist at arabian monitor. coming up, increased chances for inember said hike ha

he has 16 connections in india. 16 corporate entities. 13 in the uae. 12 in canada. look at that map. >> diverse. >> how is it possible for him to say that this is not a conflict of interest? he is literally an empire on to himself. >> right. in many ways, you say it is the definition of the conflict. two quick thoughts. one, it is correct the president is exempt from some of those specific prohibitions that apply to others in government. there is the other thing we are focusing on. the clause of the constitution. i vaguely heard of it, but never paid attention. all of a sudden, we are in a laser beam. it says that all officials, including the president, cannot take any gifts or anything like a gift from a foreign government. now, if trump has a hotel in mumbai and they get a zoning varianou various variance. what does that mean? >> donald trump did not go this far in the interview. he said you knew this when you voted me in. this was baked in. this was baked in the vote. you knew it would be sticky. i'm going to let my family handle the business side. >> christine,

identifying sites that can hold qatar's oil beerves, and land that can planted for crops with export to the uaere also preparing land for manufacturing, tourism, and mining, after they came home from a recent roadshow covering qatar, abu dhabi, and dubai, saying they receive proposals for billions of dollars. we don't have much more concrete details than that. they are in charge of hundreds of industrial parks across the country and are readying a roadmap by early next year to identify other pockets of opportunity. there is even talk of breaking into untapped markets like russia and iran. the president has said several times he wants to build economic ties with russia, and is planning a state visit, possibly by early next year. regina, manus here. why the sudden interest in the middle east? why the sudden interest in these kinds of markets? >> hi, manus. the numbers alone tell the story. improved investments in the economic zone software to percent in the first 10 months of the year, to just about $2.2 billion. but the larger point is that we are living in highly uncertain times. they have me t

among the countries he is involved, uae, turkey, saudi arabia and india. scrutinized for meeting with three real estate developers last week. including one in india with licensing deals. someone else owns the property and trump runs the brand. prior to the election it was well known i had interests in properties all over the world. the entire business model around the trump name. >> licensing around the world. >> it is a different -- it is trump and family are the product. now it is going to the white house. >> joining us to talk about the twists and turns is best selling author ellis henican. >> good morning. >> so many things to talk about. the meeting of the white nationalist and then steve bannon in the white house. he has been accused of being anti-semitic. here is a response that he had for "the wall street journal" and a question of being a white nationalist. he said, i'm an economic nationali nationalist. i'm an america first guy. i said repeatedly that strong nations make good neighbors. i also said repeatedly that the ethno nationalist movement w

among the countries involved in, uae, turkey, qatar, saudi arabia and azerbaijan.rump downplaying the news on twitter last night, quote, prior to the election, it was well known i have properties all over the world. only the crooked media makes this a big deal. >>> other news yesterday. top executives from the news anchors sat down with president-elect trump on monday. the meeting was off the record with both sides agreeing not to discuss details. real progress was made on the thorny issue of access to trump. he is scheduled to meet with the publisher of "the new york times." >>> and the one mention he made most recently, the promise to pull out of the trans-pacific partnership. that is the trade deal lowering trade deals among pacific rim countries except for china. this was a glowing trade power counter to china. trump vowed to tear up the deal saying it will cost americans their jobs. >> i'll issue notification of intent to withdraw from the trans-pacific partnership. a potential disaster for the country. instead, we will negotiate fair bilateral trade deals to

from the cons late here in dubai and they're hoping that this case can move very quickly through the uaeystem. a lot of the information that we have on this comes from reporting from this ngo called detained in dubai. for those who are outside of dubai's legal system this comes across as an out rage. it's a tourist worst nightmare. what we've gleamed from the information, this woman who was from the uk in her twenties was visiting on vacation when she reported that she had been raped. she took that complaint to the police and she said she'd been raipd. as part of the police investigating the case they also turned around and detained the woman, the alleged victim in this case was detained and her passport was confiscated and she was charged with having sex outside of marriage which is a criminal violation here in dubai. so because of her passport has been confiscated she is now effectively trapped here in the country until this case gets resolved and as far as official comment goes, the dubai government is not commenting on this, the dubai police are not commenting before this and clearly

uae equity banks have done the same. but what are the risks? good morning, angie.ou are absolutely right. the islamic bank had a sukuk issue, and their rights issue -- it wasis year executed very well. the risk is that the rights issue does not get done. the risk is that investors don't have the confidence in commercial banks that many would like them to have. i would be surprised, to be honest, if that was to happen. it is a risk, but it is an outside chance rather than something to really worry about. is this a symptom of what we are seeing more broadly in the oil markets here, especially ahead of this opec meeting, whether or not we will even get a deal? so you mean it is commercial bank to do with the oil markets? well, really, the issues we are seeing, the need for capitalization, the need to aek liquidity, is it really symptom of just the general feeling of whether or not the oil markets can support a growing economy? you are absolutely right. we have had almost two years of falling oil prices. that sucked a significant amount of liquidity. that liquidity res

are you under uae laws?ur deputy director is a sheriff deputy and he protects this country day and night and we want to keep america a free and just county regardless of race and religion. let's stand united. let's not let fear and hate divide us. >> i want to say thank you, megyn. i think the american people understand where we stand on our differences on this one. thank you. >> great to see you both. >>> also tonight, we're doing a new investigation into fake news reports. >>> plus nancy pelosi may lose her 14-year groip of power. marc thiessen and austan goolsbee are here on that. >> i have over two-thirds of the caucus supporting me. came home. or maybe the day you realized your baby was not a baby anymore. every subaru is built to earn your trust. because we know what you're trusting us with. subaru. kelley blue book's most trusted brand. and best overall brand. love. it's what makes a subaru, a subaru. to capture investing ideas that instantly gives you stock prices, earnings, and dividends... an equit

in relation to the case and remain in contact with her family and, we have raised the case with the uaenment and would like to see it progress as quickly as possible. we know they're helping this woman but we don't have more than that. we have spoken to a government official that told us this is a sensitive case and they won't say anything on the record and neither will the police in dubai. it's a very, very sensitive time now. specifically because dubai's brand or it's image in the rest of the world is that it's a very friendly place to werners and tourists. it's a place of amusement parks and skyscrapers and beaches. so this is the last thing they want publicized to the rest of the world. >> live for us in dubai. thank you for being with us, sir. we appreciate your reporting. south korea's corruption scandal is intensifying. the opposition party is collecting signatures for an impeachment motion against president park that's now a suspect in the investigation. three people were indicted on sunday. more on the public growing anger. >> elected on an anti-corruption ticket. her pledge to

are you under uae laws?ur deputy director is a sheriff deputy and he protects this country day and night and we want to keep america a free and just county regardless of race and religion. let's stand united. let's not let fear and hate divide us. >> i want to say thank you, megyn. i think the american people understand where we stand on our differences on this one. thank you. >> great to see you both. >>> also tonight, we're doing a new investigation into fake news reports. >>> plus nancy pelosi may lose her 14-year groip of power. marc thiessen and austan goolsbee are here on th jack be nimble, jack be quick, jack knocked over a candlestick onto the shag carpeting... ...and his pants ignited into flames, causing him to stop, drop and roll. luckily jack recently had geico help him with renters insurance. because all his belongings went up in flames. jack got full replacement and now has new pants he ordered from banana republic. visit geico.com and see how affordable renters insurance can be. p is for permi

leaders from the uae and the crown prince and afghanistan. it's going to continue.f trump is smart -- i think he is smart, stay on message and stay on point. let this speak for itself. >> maybe they are feeling there's perhaps some -- the chance of victory and having a republican ticket that's strong and voting straight down the board. >> it's scary. it could be so close that if trump loses, people aren't going to be happy. if hillary loses, they're not going to be happy. you have a supreme court of four against four. if it ends up like it did with bush and what's his face -- global warming guy -- it could be ugly. this election night could be longer than puberty and twice as stressful. >> are you still going through it? high pitched voice. >> i don't buy the coming home m metaphor. when people bring up home and family, it's to demand loyalty from you. loyalty is not a principle. it's what you use as a substitute for principle. it's telling somebody, yeah, i know we're doing wrong, but come on, we're family. whenever you try to get a raise and then you say, i'm leav

among the first district today, the oil minister from the uae.uction, and we are optimistic with what we have seen so far with members outside of this are positive. and we want to see that in the decision that we make. taylor: opec needs to resolve differences between its three biggest producers, saudi arabia, iraq, and iran. italy's prime minister, matteo renzi, went on the internet to appeal to voters who have not made up their minds about sunday's constitutional referendum. renzi held a facebook live session last night, urging voters to back reforms that he says will stop parliament and bureaucracy from blocking the country's progress. president-elect donald trump resumes his audition for secretary of state today. last night he had dinner in new york with former republican presidential candidate mitt romney, who was harshly critical of trump during the campaign but now is full of praise. mitt romney: he did something i tried to do but was unsuccessful. he won the general election and continues with a message that brings people together. this h

that's usually the indicate for kuwait and qatar and the uae as well.t's important to remember that these countries are around two-thirds of opec's production response. while we expect that opec to cut production, today's outcome exceeded our expectation, and the bias for our revision to our oil price forecast -- for on 2018 is positive. it's a positive outcome for the oil markets, and he with also think the outlook for energy stocks in 2017 too. >> i mean, that's frankly most importantly of what i wanted to get to next is your outlook for the stocks that you have, you know, continually picked on this program and ones frankly that have done quite well. you stay with what's worked or do you look to trim from some gains in names that you are among your faves. shell is up 27%. >> we're unrepent antley bullish here. investor portfolios in our views should be overweight energy, and this includes oil, and full service stocks. it's not been to overthink it. with the oil price rising and performance will probably be pretty good, and so far so good. i mean, ener

that treat women, guys, lesbians, christians and jews horribly, countries like saudi arabia, kuwait, uaebrunei, qatar, owe man. did hillary clinton criticize these countries? women can't drive in saudi arabia. did qatar did you know marital rape was legal? marital beatings are legal of women. did you know in saudi arabia guys and lesbians are killed? christians and jews, you can't build a temple or christian church, they're persecuted. joining us from ted montana's grill, the author of best seller "treason," former speaker of the house newt gingrich. for two days in a row they're playing the race card and using the klan. what does that tell you? >> it tells you they're desperate and fair tied. now, you can always measure mouch trouble they're in by the intensity of their attack and the degree of their desperation. i think it is pretty clear now as you just pointed out, you know, when you have 87% of the country that thinks you did something wrong, you have an uphill climb to be president. when you have over half the country that thinks you might have a criminal indictment, gets tough to

look at the money right there they gave to the clintons and the clinton foundation, kuwait, the uae, brunei, qatar. joining us, larry elder is with us. i hear you're at a big event tonight. is that true? >> i am. i'm here in colorado, another swing state. going to ohio tomorrow and then pennsylvania. did nevada yesterday. >> awesome. you know, one of the reasons when the president came out with the klan comment today, i can't take it. i can't tolerate as a conservative, larry elder. you want to say something horrible about somebody, call them a racist, and the democrats do this every single election season. what the president of the united states and the clinton campaign are doing by playing this card is a national disgrace and a lie, but it is the very thing they themselves behind closed doors are guilty of. >> and, sean, it is nothing new. they say behind closed doors what they often say in public and get a pass. claire mccaskill when she first ran for senate said george w. bush let people die on roof tops in new orleans during hurricane katrina because they were poor and black. gl

least 25 countries outside the united states ranging from israel, to golf course developments in the uaeabout this during his interview with "the new york times" trump said, quote, the law's totally on my side. the president can't have a conflict of interest. and while trump says he's going to let his children run his global empire, most americans, about 59%, in a new cnn/orc poll, say that simply doesn't go far enough. so is trump right? is there a line when it comes to a president's business dealings? i'm joined by two experts. richard hay her is a former white house lawyer and ron barron is an ethics attorney. >> hello. >> nice to have you here. >> thank you very much. >> thanks for coming in on -- during the holiday week. richard i want to start with you. is a president immune to conflict of interest? >> no. a president can have conflict of interest, just like anybody else. serving in the government. there are some conflict of interest statutes that do not apply to the president, for example the criminal conflict of interest statute that would criminalize certain official actions tak

words, anywhere in the world, he's got interests in at least 22 countries, including saudi arabia, the uaeand china, countries we have complicated foreign issues relations with at the least and there's nothing prohibiting from continuing to operate companies in those countries while negotiating with them as president. what have past presidents done? almost all recent presidents have put their assets in a true blind trust even though the law didn't force them to. jimmy carter, ronald reagan, both president bushes and bill clinton did as well. the one exception, president obama. almost all of his money was kept in boring old u.s. treasury bonds. donald trump says do not worry. he no longer cares about his businesses. not once president. >> if i become president, i couldn't care less about my company. it's peanuts. >> asking us to put some blind trust in him. we're going to stay on this throughout the transition, including with our next guest, a good friend of donald trump and a fellow casino owner. he has spoken to donald a few times since the election already. spoken to him every week for t

countries that are making steps in the direction of what tammy is talking about -- and you see it in uaemost of all, and are beginning to in saudi arabia. certainly, tunisia. it's hard to do that and to keep your society together in a security and regional environment. think about the environment in the middle east today. and to say to a leader -- we need you to take the risks of moving in this direction in a region that is in many respects, melting down. this is a hard thing that we are asking of leaders and we have to recognize. one of the things that we say is -- this is the attitude of the international community and it ought to be that if you are willing to make those hard decisions, we, the international community, will support you financially, but diplomatically -- financially, diplomatically. if you don't, we won't. not because we are being punitive, big -- but because in our judgment a would be a bad investment. a good investment would be to the countries who are willing to make these steps on the behalf of the people. because they are the most likely to result in long-term stab

you see it in the uae -- you are beginning to see it in saudi arabia. certainly tunisia. it is hard to do that and keep your society together in a benign security and regional environment. think about the environment in the middle east today, and to say to the leader we need you to take a risk of reform moving this direction in a region -- his is a hard thing we are asking leaders, and we have to recognize it. one of the things we say though, the attitude of the international community ought to be, if you are willing to make those hard decisions, we in the international community will support you financially, diplomatically. if you don't, we won't, not because we are being punitive, because in our judgment, it would be a bad investment. the good investment will be those states willing to make those steps on behalf of their people because we think they are most likely to result in prosperity and stability. i think we have to recognize the difficulty of what we are asking and we have to be engaged and willing to step in and make the right decisions. yes, ma'am. >> hi. janet

i spoke to uae's oil minister. let's listen to see what he had to say. >> i could say that the biggest areas that some are not participating. i think opec is a dated organization. and so expectation we would like to have something that is sustainable and that benefits everyone and also get everyone needing to participate. don't ask me how, who and when before we meet. >> reporter: very interesting. we think we know who the names are. we think tehran is saying we don't want to take part in cuts. we are trying to get production up to presanction levels. the cuts should come more from rio or saudi arabia who grew market share. also, the likes of the iraqis, do they want an exemption because iraq is fighting a war in its own territory. it needs to pay for more security. it wants to stay around 4.5 million barrels. they are the two key sticking points who got their own security problems. the fact of the matter is in the last two years since we had the latest policy where they were going to let the market fall and maybe

know is about this arab government, because we know also at the same time that a few countries like uae, qatar, they have relationship with israel under the table, and also yesterday i read that donald trump said that settlements are not an obstacle, so could you respond to all of that? thank you. >> thank you. these are five excellent questions. dr. mansour? >> okay, with regard to the question asked by my friend heshme, if there are those who think that advertising is a good thing to do, to put in the "new york times," in "the washington post," and you have the resources, by all means, please, do it. now for us, you know, we do things, you know, as we fight at the united nations. people listen to us. people vote in favor of our resolutions, and we organize conferences and meetings and we do things in order to articulate our position. of course we cannot publish our position everywhere. that's why we rely on friends like you and others to also, you know, to do some of that work, and maybe good campaigns of, to have one page advertisement of anything that you wish and if you want help f

saudi arabia, kuwait, and the uae. libya is out. nigeria is out, venezuela is out. so you'll get at least 800 or 9 had been,0900,000 of real cuts. >> 30 years, this man beats me hands down. back to you. >> steve and mike, thank you, both, very much. >>> coming up, steve mnuchin picked to be the next treasury secretary. could a big bet he made in the past come back to haunt him? closer look at his business background still ahead. >>> first, big pappy's big new venture in private equity. that story is straight ahead. (gasp) shark diving! xerox personalized employee portals help companies make benefits simple and accessible... from anywhere. hula dancing? cliff jumping! xerox human resource services... ...soon to be conduent. which allergy? eees. bees? eese. trees? eese. xerox helps hospitals use electronic health records so doctors provide more personalized care. cheese? cheese! xerox healthcare services... ...soon to be conduent. i am benedict arnold, the infamous traitor. and i know a thing or two about trading. so i trade with e*trade, where true traders trade on a

rui, the uae oil minister. i asked him the key barriers to a deal. let's listen in. >> i could say the biggest barriers that some are not participating. i think opec is a consolidated organization. all decisions need to be unanimous. so the expectation that if we agree on something, we would like to agree on something sustainable and benefit everyone and also get everyone need to be participating. but don't ask me how, who, and when because we meet. >> don't ask me how, who and when. we all know this is about iran versus saudi. is that the only barrier? >> it is the iranians, the iraqis, what i think is interesting is, you know, algiers, two months ago, the iranians were exempted. now the eiranians are asked to cut production and that's a nonstarter for tomorrow. >> they want to get to 3.9, to 4, beyond ultimately as well. will that happen? >> here is the thing. iran produced 3.8 the last year before sanctions. they haven't done 4 million for quite a long time. so the question is, is iran digging a line in the sand for if 4 million when they're proba

respond to the , theirsm of riyadh criticism of the uae and the middle east?ng-standing relations with riyadh and the gulf states -- they have very good reason to. the united states essentially has been dealing with some of the most repressive and misogynistic states in the world, which does not sit well with the u.s.'s suppose it ideals. but this relationship, the pragmatists, until recently in the oil-era dynamic, has been essential for the supremacy of the united states. selling oil in petrodollars, selling as proxy to the americas . a oil4, when we have prices beginning to sink and the centrality of countries like saudi arabia, u.s. policies declining, this was a relationship that any u.s. president was more or less stuck with. foreign-policy worldwide really change under a donald trump and brexit? robert: one thing he has rejected with the middle east is the whole thing with russia. that could because all for the evolution of -- at the moment, the u.s. -- at the moment, the west has no policy with syria. other than bringing in end to the savage civil war.

making the meeting successful, the uae minister says he is optimistic but iran is really putting the they would not be cutting production. the saudi's say they will not david:hout iran and iraq . you could put this in primetime. now we are going back to pension plans. earning 1.4%. that is the second consecutive year. --an interview in october this is unfair because it's before the election -- chris says "we chris ailman think you will see returns and a lot of accept classes -- asset classes." david: do you want to amend your statement? >> i do but not just because of donald trump. it is more of the bond market reaction and the fact that we are going to have, potentially, with a different white house and a different congress, a different plan in the u.s. and in the globe. after jim, everything changed after brexit. here we arey, almost six months later and we don't know what is going to happen in europe. i don't know what happens in the usa even six months from now. we are talking about actions in washington dc. it is going to leave investment opportunities. we could easily get a 7-8

the uae oil minister says oil options are on the table to get the market back in recovery.currency weakness -- we are looking at whether japanese equities are a buy. at a new name to the secretary of state list -- bob corker is at trump tower today. will he get the nod over names like mitt romney and rudy giuliani? stocks are on where trading with abigail doolittle. abigail: modest gains for the u.s. averages in the u.s. the dow, s&p 500 and nasdaq are trading modestly higher. the nasdaq is up the most common trading at new record highs were . as for the dow and s&p 500, these two averages are not hitting any records today. something happened yesterday from a technical perspective with the s&p 500 that stands out. 5182. this is a near-term chart of the s&p 500 and near this upward sloping arrow, we have a set of 14 straight higher lows in a row. the buyers are supporting the upward momentum. this has been equaled or topped two other times in the history of the s&p 500. back in 2004 and 1971. now, we have lower highs. the sellers could be moving in . whether it leads to decl

a few countries like uae, qatar, they have relationship with israel under the table. and also yet i read that donald trump said that settlements are not an obstacle. could you respond to all of that? >> these are five excellent questions. >> okay. >> with regard to the question asked by my friend hashmir. there are those who think that advertising is a good thing to do to put in the new york times and washington post, and you have the resources by all means, please do it. now, for us, you know, we do things. we fight the united nations, people listen to us. we organize conferences and meetings, and we do things in order to articulate our position. can he not publish our position everywhere. that's why we rely on friends like you and others to do -- maybe to have one page advertisement. if you want help from us, we will be delighted to do so. there is a tremendous opportunity to work. why are you here this morning? you want to do something, you are eager to do something. and this is a wonderful spirit. you can do whatever you think, it's a good idea, get the people who

a few countries like uae, qatar, they have relationship with israel under the table. and also yet i read that donald trump said that settlements are not an obstacle. could you respond to all of that? >> these are five excellent questions. >> okay. >> with regard to the question asked by my friend hashmir. there are those who think that advertising is a good thing to do to put in the new york times and washington post, and you have the resources by all means, please do it. now, for us, you know, we do things. we fight the united nations, people listen to us. we organize conferences and meetings, and we do things in order to articulate our position. can he not publish our position everywhere. that's why we rely on friends like you and others to do -- maybe to have one page advertisement. if you want help from us, we will be delighted to do so. there is a tremendous opportunity to work. why are you here this morning? you want to do something, you are eager to do something. and this is a wonderful spirit. you can do whatever you think, it's a good idea, get the people who

we have a guest coming up who will argue along those lines, that it's saudi arabia, you could wait, uae and qatar that hold production cuts to the point you're making. >> the saudis have a lot of incentive to make this cut and keep prices at 50. we talked about the bond offering, that went off without a hitch. they're looking to do an aramco ipo next year. you can't have low oil prices and expect investors to pour into that. >> thank you. >> thank you. >> joining us is jack broussard. do you agree, if there's going to be a cut it will be saudi arabia and they'll have to bear the brunt of it? what's the likelihood of that? >> i agree. i think there will be a cut, saudi arabia wants it to happen. as your prior guest was saying, they somethi they signaled they want more cash, and we have the aramco thing coming up in the near future. the big problem is inventories. this cut will not cut inventories. >> how soon before we can burn those off? >> the way i see this playing out, we will need a second cut. so come springtime we'll start looking at all the production numbers from the countries y

this is a conference that's hosted every year by the foreign minister of the uae, and he gathers foreign ministers from most of the countries, prominent people from all over, russia, china, europe, and the u.s. obviously, and i was asked to moderate the opening discussion about what a trump foreign policy means for the middle east, and the subject on which everybody in the room was pretty curious, and to my interest and surprise because of trump's campai campaign on muslims, but it was iran and what to do about iran, and there was a general sense that trump would not tear up the agreement on the nuclear issues, as he sometimes said he would do, and people thought that was a bad idea and he would be much tougher on iran's behavior, and much more willing to challenge them in these regional areas, and secondly in dealing with russia, and russia is a fact of life in the middle east, in syria, and his willingness to try and say i will try to work with the russians to get something more stable, and pretty much across the board was met with nods of okay, we will watch that. there was much less

-- you arein the uae beginning to see it in saudi arabia. certainly tunisia. it is hard to do that and keep your society together in a benign security and regional environment. about the environment in the middle east today, and to say to the leader we need you to take a risk of reform moving this direction in a region -- this is a hard thing we are asking leaders, and we have to recognize it. one of the things we say though, the attitude of the international community ought to be, if you are willing to make those hard decisions, we in the international community will support you financially, diplomatically. if you don't, we won't, not because we are being punitive, because in our judgment, it would be a bad investment. investment will be those states willing to make those steps on behalf of their they arecause we think most likely to result in prosperity and stability. recognize thee to difficulty of what we are asking and we have to be engaged and willing to step in and make the right decisions. yes, ma'am. >> hi. janet smith. i was a legislator for senator