tv Bloomberg Markets Middle East Bloomberg August 16, 2016 12:00am-1:01am EDT
$6 billion. on to tap $11 is trillion. >> tackle laying an economy in crisis with a soaring budget deficit. >> welcome to bloomberg in the middle east. meeting was an informal with members of opec. were oil ministers talking about the freeze and it could be irrelevant with the numbers behind it. >> it is really the crocs of the issue.
let me show you this chart. story of heavyweight fighters in the ring. they are both above record and they sayday they are open to talks and meetings. that is good. story anders tell a it underscores the position of russia, who says they need to talk and that the rebalancing is not going to happen until next year. that was a comment made to a newspaper and from a oil minister who posted on twitter that 70% of oil producers could agree on something and that would give additional incentive
to the consensus agreement. there is a little bit of this with the oil minister. >> for almost 20 minutes now, this is the position. yen and the topics have declined and they are down. and this iseakness a position of strength from earlier. thehe middle east, this is emirates coming at local time we had the advancing equities across the globe and the middle east was not left out. gain. joined with that
and it is off it by a quarter of 1%. the is the deal with markets on monday. let's check in with the headlines from around the world. in20 were killed or wounded yemen. the coalition is accused of attacking the building in the rebel held area. school and hitting a say that it was a rebel camp and it's used to recruiting children. shareng to raise with the filing. they say that there will be additional capital under the regulations and this will close in september.
in the meantime, there is not a for me to say that there is a gold story and i would expect to see these prices for a while until there is a move from the fed. >> there is a split between the metals and the demand. what is the trend? what do you see? and youis a good side see the prices doing ok, if not tearing away. metals that do not have the same investment demand and they are more heavily involved in the supply chain. sanguine about the economy not falling off the
fitch. >> fitch is alone with the ratings agencies and part of the saying thatat it is this will generate cash and should get liquidity back on track. generatethey could $900 billion and 500 million from the profits. these, youa look at can see the long-term outlook is it is similar to standard and poor's. this with the this shows you different ratings here.
we have a little bit of that coming through and there was a huge fall yesterday. >> absolutely. let's get you up to speed with what is going on. looking at record losses and there was a weakness with at 200.de in south korea, again, it is flat and that is the position that we generally see. the hong kong market, a quick look at them. there was a recent rally. a gut checkt of taking place and we are in a lunch break. asia is come, how
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cranny.manus there counting down to markets and this is the view of andmarkets with a reading the back part is what we are expecting on services. this is the middle and you have services in the blue and the inflation number there. there is a drop in the pound and that is what many economists said they will tolerate.
few thatne of the would be able to break the target and we have seen the fed say they may dismiss that. first ofoking at the the set pieces of data to come through. this, there ism the copper miner. what is the story there? >> it is not equal. the cod he -- commodity producers have been on the back of that. hear the copper
the majority countries had good continueor this to with the compliant products and we are in a different climate, at the moment. there is a huge opportunity in asia or france to look at the islamic finance. >> how do you convert muslims to invest in these products. they have not had the same returns as the traditional ones.
invest into and i believe the current climate can give that opportunity. >> that may be the case. the industry faces the challenge of a lack of standardization. differences in opinions. how do you deal with that on a global level? think that the markets have been talking about this for quite a while. mandate that says we will invest in certain industry.
mandate from investors, there are opportunities. there will always be differences. many different this is how one this is theat and jurisdiction or industry. there is a new opportunity. >> let me jump in and get your thoughts on the center of the economy and they have far-reaching ambitions. how much his this can be taken away from asia. that dubai is well
london has been a finance up. it attracts liquidity from the different centers and there are different propositions and returns for the center of islamic finances in the middle east with singapore, hong kong, malaysia positioning to take this from asia and they can play a complementary, rather they competing role. with thecomplies assets under management.
than 17down from more million a year earlier. apple is coming in fifth. the international olympic committee has sent an egyptian refused toe after he shake hands with an israeli. he received a reprimand for his behavior. , he the hand was extended booed asay and he was he exited the arena. this is bloomberg. will this be enough for the fiscal deficit? we will get the citigroup the you next.
>> welcome back. >> we have a look at the headlines and mongolia has rolled out a plan. reduction and of grady infrastructure. other tryingials to resolve the growing problem. guarantee on a deal worth $3.4 speter hancock' plan will free up capital to return it to shareholders. dhabio of the bank of abu
. it was believed he would stay until the merger was completed. he will take over as the acting ceo. the economist joins us now and we get a bit of a sense of how busy the first half of the year has been. kuwait inur take of this market to convince the investors with the low yield? isting during this
violence and it has begun to and there is a lift off cusp here.is on the >> getting to the wider issue, there is the liquidity there. will it be there? >> you have the international markets and the liquidity there. your previous segment talked about the gulf countries and the issues with the islamic products and tap into the liquidity
we see constant inflows into the emerging markets and you have there isive yields and that depends on what we see in the fed and other circumstances. >> i know that you have been there isthis story and a staff level agreement and what is your read on these numbers with this turnaround. >> i think that this can be nothing but a positive for this and it is the funding
and tofor egypt to fill whichent that agreement will be forthcoming and it will happen. , then to that implementation is the key and there is low hanging fruit that egypt and implement and there are more fundamental reforms that will be tricky for them. >> what else are you watching in the middle east? >> we were seeing some interesting trends developing thewe were talking about itering in this region and
was largely tactical and we are looking at lebanon and interesting trends that are developing their that are worth investors taking a look. .> thank you for joining us he is the citigroup chief economist. still to come on this program, slight risks. near misses and drunken pilots. we are live in mumbai. this is bloomberg.
the indian markets closed for independence day on monday. shares were down and it goes against a backdrop of this market and the indications are -- we're joined now from mumbai. what does the official they'd tell us? riskier than last year. take a look at the numbers. has 218 casesthis of violations here and we can put this into context. india is the fastest-growing aviation market in the world and the government is relaxed and they allowed local areas to come
airportsere are more is the fact of the matter that the regulator is now coming greatd and there is reactions. the crux ofthis, the problem remains the infrastructure and the lack of qualified manpower. >> there is a new aviation policy. does that address the problem? in june of this aboutnd they talked connecting to the major cities and bringing back the underused airports and the fact that the there is ahat
serious gap between what is planned and what is on the ground. you an example of the report from last week. they needed about 600 personnel and they had 360, meaning that -- this is an example of the problem that india is facing. this is supported by the the government is taking corrective measures. that the lack of qualified manpower is hurting. >> that is there in mumbai.