in the region who have a negative outlook. , for fiscaln, qatar reasons, fiscal changes and for geopolitical reasons. nevertheless, in a number of systems, and they are the largest, the uae, saudi and kuwait, resenting around 75% of the banking assets in the region, we believe the fundamental economics, especially the recovery in economic growth next year, after a most economic growth this year, will boost credit growth and be positive for banks. tracy: i would like to press you on the fundamentals. this is the chart behind me, you can see the interbank funding costs kicking up for some of the players in the region, qatar especially getting a spike around the time the blockade was enacted in june. even saudi and them ever it's starting to take up a little bit. do you have concerns for funding pressure. paul: we do not have any at this stage. for two key reasons. first, although we expect a slightly upper growth of credit next year, about 5%, growth is very moderate in these economies compared to a few years back. so that it reduces in a way, the competition for funding. the othe

. qatar is like a drop in the ocean. therefore, we welcome them. they are muslim, family, brother and sister, but we will not force them. if they want to come, they are most welcome. otherwise they will not affect anything. the powerhouse of the economy is us and saudi arabia. yousef: let's bring it back to your home market in the uae and your expansion plans here. what are the new projects coming online? how much more are you looking to invest? >> still we are finishing for projur projects. , youain and most important can't compare it to anything like it in the world. , thene 35 star hotels vegas,, more than las -- i mean, you cannot find that in new york. we are finishing that. we finished one hotel. resort.inishing a ,f you go and see that, i mean i have been with her majesty the or.en of england in winds it is nothing compared to the resort. ,ou see the plan, the layout you think you are somewhere else. yousef: in terms of the additional expansion, is this a good time to be investing in new projects? there is concerned there is too much supply coming on the market. we have cranes

have to weigh your interests. the weight of saudi arabia and the united arab emirates. qatar is like a drop in the ocean. they are family, brothers and sisters, we need them but we will not force them. if they want to, they are most welcome otherwise they will not affect anything, the powerhouse of economy is us and saudi arabia. t's take it to the united arab emirates and your expansion plans. what are the new projects going online and how much are you looking to invest? >> still finishing four projects. o our a very important t city. you cannot compare to anywhere in the world, anywhere like it in the world. hotel, luxury.r permanentr that is that rivals las vegas. .nd then the boulevard you cannot find this in new york . we are finishing that. we finished the hotel. resulort.ishing the if you go and see that -- i've been with her majesty the queen in windsor. windsor is nothing compared to it. you go and see there, the stables, the planning, the plan,, the master you think you are summerhouse. yousef: in terms of additional expansion, is this a good time to be investing in new proje

killing. there was a hope that qatar might see some developments when it comes to the blockade issue. meanwhile, take a look at turkey. despite index up 1.6% the highest inflation data we have seen since 2003. than expected, but a lot of people think that will put more pressure on the turkish central bank. meanwhile, brent crude picking up. today is a good day to test whether a risk premium is still in bedded in the price of oil. let's get over to debra mao for the first word headlines. the u.s. supreme court has ruled that the trump travel ban can take full effect while the legal challenges continue. the ruling does not directly address the merits of the ban, but is a key victory for the president and suggests a divided court may uphold the restrictions. from can now bar people six mostly muslim nations even if they have a relationship with the u.s. based person or institution. the much-anticipated brexit breakthrough failed to materialize in brussels. a tentative agreement was derailed by the irish border issue. the eu had given theresa may until monday to explain her policy for a

, like qatar for example? an interesting effort by the bloomberg team, making 7% profit by switching between offshore and offshore on the qatari riyal. are you getting interested? the rsi looks attractive, down 30%, might be a chance to buy. >> they could be even more attractive. qatar stays uninvestable given what has happened so far. as long as the political situation remains the same, it will be hard i to workn guitar. -- hard to work in qatar. saudi is showing a lot of positive signs as we speak. if you look at the market, it has also discounted most of the uncertainties that have been going on, and it is not actually switching. yousef: that was ahmed badr. up next on "the best of bloomberg markets: middle east," steve powell signals a dovish tone on his confirmation hearing, saying there is no sense of an overheating economy yet. but if you write? we discussed that. ♪ yousef: welcome back to "the best of bloomberg markets: middle east." jerome powell said the case for raising rates next month is "coming together." he told the senate panel assessing his nomination that while un

have for 2018 -- contrarian call for 2018? i think you have to keep an eye on qatar. yesterday, for a lot of regional investors, qatar has been a no go i think you have to keep an eye on qatar. area for a lot of this year. valuations have come down a lot, and there is a risk that some stocks could be pulled out of other markets in the new year. selling andgood good quality names, there was a lot of value that opens up. qmb area for a lot of this year. like.ewc, we they could create buying opportunities, a market that might get a lot of attention in 2018. yousef: up next, as bloomberg publishes its guide, we take a depressing look at the decade ahead. this is bloomberg. ♪ ♪ welcome back to the best the bloomberg markets: middle east. this weeks, we published the guide to the decade ahead. amongst the worst case in areas are north korea threatening war, generational warfare destroying europe. guests from the canadian imperial bank of commerce what was keeping him awake at night. >> it seems to be very clear to therkets are headed a end of the year having had a banner year. north kor

iraq, but also provide solutions that provide more security and stability. yousef: qatar airwaves launched a new service to thailand. the ceo spoke to bloomberg's stephen engle. >> we are not going to slow down. this is exactly what qatar airways wants to prove, the blockade is not going to have any negative impact on our airline vis-a-vis our growth. we will continue to grow, it will of course affect our bottom line because this was completely unexpected, this illegal blockade. however, we are on our march ahead, which will continue and make people very envious when they see how many new destinations we are announcing in order to defeat our adversaries. >> can you give us an update on how the blockade is affecting your business? a month ago you gave a fiscal year profit warning. are you having to reschedule more flights, cut more routes? can you give us an update? guest: we have not cut any routes other than the blockade in countries that band us -- banned us from operating in their countries. we will keep on expanding, and i will have to fill the vacuum which of those 19 destina