on bbc news, it's time for the travel show. 20 years ago, dubai set out to become one of the most talked about towns in the world. since then this young city state, one of seven emirates in the uae, has largely succeeded. it's become one of the fastest growing tourist destinations on the planet. synonymous with spectacular skyscrapers, gigantic shopping malls and high—end hospitality and also the occasional stories of tourists who fall foul of local customs. but scratch deeper and there's much more to this place. no longer the brash new kid on the block, dubai is now an established hub and one of the world's few truly global cities. and although the impulse to impress is still here, there's now a complex identity taking shape and i'm here to see how that's changing the look and feel of dubai, its people and its future. aviation is at the very heart of dubai's growth. geographically blessed between east and west, with the vast indian subcontinent on its doorstep and an ambitious national carrier, it's reckoned that over 40% of the world's population lives within four hours flying

deeper and there is much more to this place. no longer the brash new kid on the block, dubai is an established hub and one of the world's first truly global cities. and although the impulse to impress is still here, there is now a more complex identity taking shape. i am yet to see how it is changing the look and shape of dubai, its people and future. this is the real heart of old dubai. this is to be a trading heart for the city. now, this used to be a real trading hub for the city and the kinds of boats you can see behind me bring in spices and other goods from countries like india, iran and much further afield. this is my personalfavourite part of dubai, the old town, where you get a real sense of the past. as it's a contrast to the skyscrapers and shopping malls downtown. what is this? this is cinnamon. cinnamon, yeah, i recognised that. very good. this one is turmeric. turmeric, yeah, very good for cooking. this one is for cooking, and this is for the face massage. for the face massage? 0k. and what is this? this is a long piece of wood, what is it? this is more cinnamon! very

. we are live at the dubai air show with the latest. >> it is 8:00 a.m. here in dubai. i am yousef. >> this is bloomberg markets: middle east. >> i hear there are some ancient tribal rivalries heating up in the middle east. i'm not talking about any of this. i am talking about them versus boeing. you are live on the scene. >> the dubai air show is finally here. the last dubai airshow was $179 billion and record-breaking deals. that is a high bar to live up to. in the time since a lot has shifted. the competitive landscape has shifted. we are talking about the -- visa bans. numbers tell a story, middle east operations are growing at the slowest pace in eight years, the monthly growth. let's look politically. the tensions are a lot higher with the standup up with qatar that has halted some key air routes. the economics have shifted as well. have dropped, government have had to rationalize their spending. they will be a lot less appetite this time around for big deals. there is a close one that we are very closely watching and that additional for 36 8380. tracy: this is potentially ti

cairo. so what is he doing in dubai? for me, dubai is like, a new city. i look at it, i try to get a different view to it, a lot of people coming from outside say, "oh, it is fake, you as an artist, how could you be here?" and for me there is this kind of growing art scene, there is a growing art community. and as an artist it is good to say that i am part of this, i am part of making a change and making this movement. if i can question you on that a little bit more — it is also a place that is glamorous and wealthy, you have a big expat population, you have some very rich emiratis here. is that inspiring for you? we are here in the middle of the industrial zone that has been turned into this culture and art community. when you cross the road you have a steel factory. this is the dubai that i want to see. i am not interested in this shiny thing, this is not for me, but some people, they want it. but i think at some point now, there is a switch, dubai is trying to show people, this is what we do. some people love paris, i love paris, some people hate paris. some people love new york

papers there. thank you for joining us. coming up next, it is the travel show. 20 years ago, dubai set out to become one of the most talked—about towns in the world. since then, this young city state, one of seven emirates in the uae, has largely succeeded. it's become one of the fastest—growing tourist destinations on the planet synonymous with spectacular skyscrapers, gigantic shopping malls and high—end hospitality, and also the occasional stories of tourists who fall foul of local customs. but scratch deeper and there's much more to this place. no longer the brash new kid on the block, dubai is now an established hub and one of the world's few truly global cities. oh, yes. and although the impulse to impress is still here, there's now a more complex identity taking shape, and i'm here to see how that's changing the look and feel of dubai, its people and its future. this is the creek, the real heart of old dubai, and gorgeous in this light. now, this used to be a real trading hub for the city and the kinds of boats you can see behind me bring in spices and other goods from cou

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 had a tough financial crisis in which property prices and other asset prices crashed. it took dubai around about four years to come back. if you compare to some of the other areas, london, early 1990's, it took them 9-10 to recover. it took dubai four years to recover. then dubai had a great run in 2013 and 2014. >> we going to see more down pressure? >> i think it is healthy for markets. what gets always worrying is when prices go up strongly in a short period of time, especially when products are sold on an off credit basis. >> we are seeing a strengthening u.s. dollar, one of the keep themselves last few weeks. how is th

will help her hotel stand out from the crowd in dubai. the middle eastern state is one of the seven united arab emirates which have become one of the region's most important economic centres. dubai department of tourism says more 14 million visitors come to its shores every year. on average each visitor spends $140 a night on accommodation. out of dubai's 681 hotels 96 are five stars and have an average occupancy of 77%. i'm joined by debrah dhugga, managing director of dukes collection. welcome to the programme. so you are moving what is the dukes hotel, you're replicating the duke's hotel in london, it is a very british established iconic brand to dubai. why dubai? that's correct. duke's, london, 116 years old so a lot of history to it and the locals, the uae market actually adore anything british. so in dubai there is a lot of glitz and glam and a lot of great hotels. a lot of stunning hotels, but there is nothing quintessentially british. we were looking to take and expand our company with duke's brand and we looked about where we would go, where isn't there that quintessentiall

how it's becoming one of the world's fastest growing tourist destinations —— is to buy. —— is dubai. now it's time for the travel show. we'll see you for the headlines at 6:30am. 20 years ago, dubai set out to become one of the most talked about towns in the world. since then this young city state, one of seven emirates in the uae, has largely succeeded. it's become one of the fastest growing tourist destinations on the planet. synonymous with spectacular skyscrapers, gigantic shopping malls and high—end hospitality and also the occasional stories of tourists who fall foul of local customs. but scratch deeper and there's much more to this place. no longer the brash new kid on the block, dubai is now an established hub and one of the world's few truly global cities. and although the impulse to impress is still here, there's now a more complex identity taking shape and i'm here to see how that's changing the look and feel of dubai, its people and its future. this is the creek, the real heart of old dubai, and gorgeous in this light. now, this used to be a real trading hub for the ci

in dubai. ahn in tokyo. we are two hours to the market close. now, the japanese yen paring some of those declines. we have seen a strengthening japanese yen because of the highest alert possible after north korea fired four listed missiles. the dollar index holding steady, while the nikkei is falling for three consecutive sessions. gainingie dollar momentum after the rba cap the rate steady. 2017 asia-pacific investors cooperation summit here. and corporate pension funds talking about the japanese economy as we see the aging society taking a toll on retirement payouts that corporations and the public to gon funds have through, zahra key time for the japanese economy, also with fourth-quarter gdp numbers on wednesday. absolutely. day in terms of the big trades. down .25 percent, energy stocks under pressure. on the tadawul, weakness in interesting what is happening in turkey, gains of up to 1.6%. these are the best gains in the world. also, 10 year bonds in turkey. qatar returning from that holiday, the first reaction to the s&p decision to revise the outlook for the soften rating,

high-end dubai property. you can see this going back to 2009. you can see the downsides pressure rise. this is size per square foot. both high-end of villas and apartments. what is the property story? >> to understand where we are today we need to take a step back and look at it going into the crisis and coming out of the crisis. until 2008, the dubai market had been growing. not unlike the rest of the world, dubai had a tough financial crisis in which asset prices have crashed. it took to buy for years to come back. to compare that to london in the early 1990's, it took them nine years to recover. it took to buy four years to recover. in 2014. a great run yousef: what happens after this? good in 2017. in reals worrying estate property is when prices go up very strongly in a short period of time. especially when products are sold on a credit basis. yousef: one of the key themes over the show, how is this affecting your business? a lot of exposure in dubai. this is a place that is easily .ffected i changes >> the strength of the dollar reflects the strength of the dollar in the uae. it

. let's head to dubai now — the so—called city of gold. traders there buy and sell $75 billion worth of the stuff every year. part of the reason for its success is that gold is untaxed, and therefore cheap. but from the start of next year, the government will be levying tax on gold sales. some worry this could dent the market. from dubai, here'sjeremy howell. dubai, a place to buy and honourable goal. but behind the bleeding in the windows, changes on the way. gold traders have been told that from the start of 2018, they must charge value added tax at a rate of 5%. some are nervous about what that might mean for business. people, you know, they are not ready to pay. the goal is ready at higher price. the price of the tax will be more. business will come down, definitely. it will fall by 15%— 20%. business will come down, definitely. it will fall by 15%- 20%. people come to the actor won gold market from all over the middle east and india. arguably the largest group of single gold buyers in the world. $75 billion worth of gold is bought and sold in dubai every year. mostly thanks to

hours away from the opening of the emirates markets, dubai and abu dhabi. next, earnings trickling in, dubai down .3%. we have seen games driven by financials and utilities. in egypt, it gains they are, big moves in egypt. aftera rebound speculation over the weekend about stamps and duty on key transactions in the stock market. we are on turkish lira watch with the turkish central bank making an imminent decision. shery: right, let's get a check on the markets. regional benchmark gaining ground, but a mixed picture as japan dragging down the index. let's get the details from juliette saly. thats, we are seeing weakness coming through in the nikkei, but elsewhere, looking better than they were when there was a lack of conviction coming through. we do have that dollar weakness weighing on markets following steven mnuchin's comments, the dollar at its lowest level since december, so giving support to emerging market currencies and lifting some emerging markets as well, a good pickup from jakarta, up .6%. india trading higher by .3%. the shanghai composite firmer, up by .1%. pboc setting

correspondent iain carter was watching the action in dubai. no one would have seen this coming, particularly when justin rose was a p pa re ntly particularly when justin rose was apparently cruising towards victory, not just apparently cruising towards victory, notjust in the bp world tour championship but also in the race to dubai. atop championship but also in the race to dubai. a top four finish would have done thejob forjustin dubai. a top four finish would have done the job forjustin rose. he went to the turn at 32, looking very co mforta ble went to the turn at 32, looking very comfortable throughout the entire front nine. but then at the 12th he dropped a shot at the 14th. he found the water, and that the 16th he found or bunker trouble, and that was another drop shot. it meant he needed a birdie, birdie finish. he found a bunker on the 17th, very nearly holt that shot, but couldn't find the eagle he needed. —— very nearly hold. that meant tommy fleetwood, who had a poor day himself, finishing at 21st place, had enough in the bank to make sure he was the race to duba

jackson hole. qatar hasockade for been asking their investors to look elsewhere. it is 8:00 a.m. in dubai. i am tracy alloway. this is "bloomberg markets: middle east." it was a very eventful day for the markets. let's take a look at what happened in the u.s. and europe. lots of drama, not just in europe but in -- not just in markets but in washington, d.c.. markets had initially rallied off the back of news that key trump advisor steve bannon wasn't leaving the white house feud nevertheless, we finish down for the day. the dow jones was the big loser. i guess if you are thinking about economic nationalism, you have to be getting about stocks and the dow jones. take a look at the europe stoxx 600, still flooding after the terrorist attacks in barcelona. index isee the dollar down about one third of a percent on friday. that helped knock gold futures down oh so slightly. the big news and commodities has to be the metals rally. zinc was up. crude up 3.3% on friday. bullsnews for oil finally cured we are about two hours away from the opening of the emirates markets good -- markets. let's tak

your story in may 2014. you were working for gf page, a company based in dubai and you help to purchase leeds united. why were you flying to dubai? i had been the managing director of leads and i've put together a consortium to put —— purchase the club. the consortium fell apart and it was sold to a new owner. i then resigned from leeds united and had various legal disputes with my former employer. legal actions had been studied by my side in england. things were ugly and we had fallen out. they then started a long track of trying to get me to come, first to bahrain and then to dubai. text messages, e—mail, telling me to come there and they would sort it out. so i believed them. as you do because you have no reason not to. did anyone voice any unease to you? did anybody wonder why they wanted you out there? i had lived in dubai for eight years and for me was a second home. at that point i had not been in dubaifor nine home. at that point i had not been in dubai for nine months because things have been so all consuming. for men, i have not done anything wrong, and certainl

tracy alloway. a dubai-based developer invest group is putting more than half $1 billion into the city's residential market. we spoke exclusively to the ceo about his plans and the challenges faced by the emirates real estate sector. guest: we have seen a lot of influx of investments right now in this part of the world, especially in dubai. dubai has become a safe haven for a lot of investment, especially in real estate of -- in real estate development. that's why we see a lot of funds coming from europe and the middle east where we have some trouble areas. i believe the market is here in this part of the world is very stable going forward. tracy: i want to dig into the dubai property market in just a little bit. before i do, i'm curious, what other challenges you think might be affecting the gulf property sector? guest: pricing is becoming a big challenge. we have what we call the sustainable communities. dubai is becoming big. some cities in the middle east are becoming big. to commute from one place to another is becoming a hassle. that is why the trend today is to have a susta

market. a.m. in dubai. midday in hong kong. this is "bloomberg markets: middle east." been, weekend has especially in the united states with the equity benchmarked indices hitting records. it is not so much that they are hitting records, but the pace it is being done. these are your friday closings for the s&p 500. 7% for the dow jones. the nasdaq was up 4/10 of 1%. it was not all positive because general electric tumbling after slashing the 2017 profit forecast. this goes to the story of optimism around what donald trump is doing in terms of possible tax reform and tax cut. u.s. dollar reaching a three-month high. up 6/10 of 1%. in terms of other asset classes, we are carefully watching -- 10 year treasury yield approaching 2.4%. the president was moving closer to selecting the next fed chief. we are getting more commentary of around john jerome powell and janet yellen. a couple of key currencies. you have the euro dollar one spot 17 84. -- 1.1784 1.1784. of 1%.rude up 9/10 quite a narrow trading range for brent crude. in the meantime, jump into the bloomberg with me for the equity

favorable as before. dubai relies heavily on tourism. and the numbers have been slowly decreasing because of a global economic storm. and right now, we are still able to grow since we have really reinvested all of our retained earnings into the company, and not spreading ourselves too thin. haslinda: up next -- christopher: from the start, everyone was a cup d. from 32 all the way to 44. haslinda: christopher, k.lynn started in beirut. how did you end up in the uae? christopher: when i finished university, i asked my father if i could join him in the business. and he refused me. i asked him how come? i am your son. if anyone should take over the business, it should be me. haslinda: it is not a birthright. christopher: it was not a birthright. well, sort of. he told me if i was going to join him in lebanon, i would only learn the same mistakes he did, and probably copy what he has done. he wanted me to have fresh ideas. i thought it would be a good idea to continue my education at the time because he had done his masters and i wanted to do that as well. i had to go to new york beca

influx of its investments right now in this part of the world, especially in dubai. dubai has become a safe haven for a lot of investment, especially in real estate of element. that's why we see a lot of funds coming from europe and the middle east where we have some trouble areas. i do believe the market is here in this part of the world is very stable going forward. tracy: i want to dig into the dubai property market in just a little bit. before i do, i'm curious what other challenges you think might be affecting the goal robbery sector -- the gulf property sector. guest: pricing is becoming a big challenge. we have what we call the sustainable communities. to buy is becoming big -- dubai is becoming big. some other cities in the middle east are becoming big. that is why the trend today is to have a sustainable community. it doesn't have to be a gated community, but when you have the and amenity that comes with that residential component, i truly believe the trend in pricing is what we call also payment terms. a lot of people are calling for more aggressive payment terms, really -- i

20 million visitors. dubai sets its sights high as it prepares for the 2020 world expo. we'll get the inside track from the hotelier hoping to cash in on the building boom. so luxury hotelsment we want to know what's the best perk you got from a hotel. keep it clean. let us know. just use the hashtag bbcbizlive. i dread to think what people will send after that comment from sally. there is just one day to go until voters here in the uk head to the polls for the general election. it's the second national poll in two years after the referendum on eu membership. in light of recent terror attacks, security been a key issue on the campaign trail, but the economy will be a key factor that influences how people vote. and that could be determined by brexit. minimising disruption to the economy is one of the most divisive issues between the governing conservatives and the opposition labour party. since the 2005 election, you can see how the uk economy has gradually recovered since the 2008 financial crisis. but growth has been slow and unsteady. for many businesses, brexit means uncertaint

market at dubai and abu dhabi. just slightly to the downside. we are seeing interesting moves specifically when it comes to energy and financial, those weighed heavily on the index. bank pushing at we dobby stocks higher. awaiting the higher batch of earnings and companies from egypt. key asset classes that i'm watching free this morning across the board starting with what is happening with the turkish lira and the south african currency. we did see a note from jpmorgan chase. african stocks at an over grade rating. the futures call higher on s&p 500. shery: we do have a guest joining us in 30 minutes, the israel minister of national infrastructure, energy, and water your is also a member of the security cabinet very we will be talking to him about how energy demand is shaping the region's political structure. let's check on the headlines. david: just an update in south korea. they have begun hours of the problems that forced her from office. she apologized to the nation how we saw pictures of that earlier. she is accused of pressuring top business leaders to donate to a confi

very closely. thank you very much. it is dubai air show this week, one of the world's biggest gatherings of airlines and aircraft manufacturers. bombardier has used the event to challenge the high tariffs imposed by the us on imports of its new cseries passengerjets. jeremy howell reports from dubai. the dubai airshow is a global shop window for dozens of new aircraft. few have hit the headlines more this year than the cseries, a range of narrowbodied jets from canada's bombardier. the trump administration has slapped a 300% tariff on these claims, saying that bombardier took state aid from canada to develop them, and that put it in an unfair advantage over american rivals like boeing. at the dubai airshow, bombardier said it is determined to challenge boeing's lobbying. boeing does not have a 100 seater to compete with the cseries, does not produce that product. we are not invited to the table to compete, because they don't have a product. so it will be very challenging for them to demonstrate how they are damaged in this. not in a bid to woo american buyers, bombardier has s

international terrorism. >> it is 8:00 a.m. across the emirates. i'm yousef gamal el-din and by -- in dubai. >> let's have a look at markets. more momentum as we made our way across em and to china where we are getting a decent bit of cross market. especially when you look at the smaller markets. i talked about vietnam. indonesian stocks topping another record high. yousef: in this part of the world, we're just under two hours away from the emirates market. dubai and abu dhabi at 10:00 a.m. local time, there was some downside pressure from the lawyer oil price and hitting it hard. down 1% to industrials and materials. space beingfected consumer discretionary, down 1.2%. interesting what is happening over in kuwait. we are seeing a lot of buying from local investors in particular. we are watching where oil prices are trending. .rent has not recovered inventory reports showed a continuous builds in the u.s. supplies. pressure. this is the interesting one because there is still some demand. not reflected in the gold price. pretty much where was earlier. currently called slightly higher. mostly

obviously, this is dubai there is no expense spared in the staging. we are talking 65 world—class artists, athletes and performers and best of all, in the middle of the desert, you can even get rain. the potomac passes some of washington dc‘s most iconic landmarks. george washington, founding father and original president of the united states, lived on its banks. but follow the river just 30 miles south and you will discover a section that is a world away from the capital‘s boulevards and monuments. this is mallows bay and it is a paradise for kayakers. when you look around, you can see why. so much natural beauty here and the wildlife is amazing. when the bay is full, you might assume it isjust another beauty spot. but as the tide rolls out, its secrets are revealed. this is what remains of potentially the largest group of world war i ships anywhere in the world. and i am here a century after the united states entered the conflict. the wreckage of around 100 war—era vessels can be discovered here. to find out how they ended up 30 miles south of washington, dc, i‘ve arrang

the european plane manufacturer is doing well with smaller models of the dubai asho the company has struck its biggest deal ever negotiated u.s. investor indigo partners is purchasing four hundred thirty three twenty neo single aisle planes for almost fifty billion dollars the deal gives us the upper hand in its order war with boeing for indigo partners the airbus deal which provides them with upgraded single jet liners for their fleet of ultra low cost carriers across north and south america as well as europe. now in the frame third finally finally a nice fact a deal for airbus there do you think that that can paint over the disappointment so far of the dubai asho. well as you said the fact that it's the biggest deal they've ever struck that certainly helps and investors seem to think so as well we've seen the share price up by more than two percent and just to put to scale just how big of a deal this is four hundred thirty planes that doesn't that doesn't just constitute an entire fleet but having four hundred thirty planes would put you in the top ten biggest carriers of the worl

earnings that beat expectation, partially own -- soaring 10% after swinging to a profit. also, dubai stocks are near the lowest levels since december. volumes are low across the board here. the average for a lot of these are it watch out for what is happening in egypt because foreign investors have dues -- reduced positions over there. let's get you up to date with other asset classes. brent crude -- what is up with wti? will it hold? and what is happening with gold? initially it had gain, now losing some ground. jpmorgan gcc spread index over treasury. tightening a bit at 3%. the south african rand, what we saw from sydney. turkishamerica saying, lira versus the south african rand is rising political risk or this is the currency this weekend, 2.4%. let's check in on the first word headlines from around the world. republicans and democrats have reached a deal that will prevent the u.s. government from going to a halt. they have agreed to $1 trillion measures for all bodies in october. trump downesident payment on boosting the military. the deal would mean the federal government shuts

over the weekend, i was offered $2 billion to do a deal in dubai with a very, very, very amazing man, a great, great developer from the middle east, hussein damack, a friend of mine, great guy. i was offered $2 billion to do a deal in dubai, a number of deals. and i turned it down. i didn't have to turn it down, because as you know, i have a no-conflict situation because i'm president, which is -- i didn't know about that until about three months ago, but it's a nice thing to have. but i don't want to take advantage of something. i have something that others don't have. vice president pence also has it. i don't think he'll need it, i have a feeling he's not going to need it. but i have a no conflict of interest provision as president. it was many, many years old, this is for presidents.

feedback we are getting from a lot of the traders we speak to. what will be the next catalyst for a dubai story? given -- dubai is the most diversified economy. what we are seeing right now, a shadow on the dubai story, the stronger dollar could mean slower growth and less inflows into emerging markets and dubai is the most correlated market. that is why there is little doubt. on the macro side, we think the story is solid. we like the uae from a fundamental perspective. incremental bid from investors because the uae is the most owned market by foreign investors. yousef: coming up, dubai released its 2016 results and we spoke to the company ceo about the challenges facing insurers in the year ahead. this is bloomberg. ♪ yousef: welcome back to "best of bloomberg markets: middle east." it succeeded in maintaining three years of consecutive growth. we spoke to the ceo. >> this is the third year we are very much in good profits and growth on the top line and bottom line. it was deftly thanks to the thanks-- definitely impost by the government of dubai -- imposed by the government of dubai.

the euro group meeting, and assessment of the bailout. the first dubai hosts trump brand property to launch since the inauguration. yousef: it is 4:00 a.m. in london. i am yousef gamal el-din. tracy: and i'm tracy alloway. this is "trending business." we had no event for a week. -- this is "trending business --"bloomberg markets middle east this is"bloomberg markets middle east -- this is "bloomberg markets middle east." we had a very eventful week. increaseds, the rates by six to 597. that means that u.s. rates are off to the best start since 2017 began. so that is the best start in five years. look at that. look where we have come from theremid-2016 all the way in mid-february. you see it there. that is your reference line. that is wti. interesting, tracy, here, we had the gas line and column and they said, you know what? traders are not caring about these numbers, including the inventory bill from last week. is right.t we had investors look through everything happening in the almostoking -- focusing entirely on opec's production cuts. let's look at where markets close to your e

dreams come true for tommy fleetwood as he win's golf‘s race to dubai title. and, england make it to the last four at the rugby league world cup. good evening plenty to come, but we begin with the return of david moyes to premier league football. having taken over a west ham side in the relegation zone, it's clear points will be at a premium for them, but they'll have to do more to get more. they failed to impress, beaten 2—nil at watford, as hannah lupton reports. back to work for david moyes on with his new club west ham in the relegation zone, back to basics. well, that was the plan, but there we re well, that was the plan, but there were no signs of any changes. will hughes took taj for watford, this his first premier league goal. not the start david moyes wanted but it could pack should have been worse. watford came close to getting a second. from worse time's chances —— these were some of gomez‘s entry for save of the season. somehow, it was just 1—0 at the break. hughes turned provider, releasing rich olessen to double their lead. lanzini saw his effort cleared of

a lot better, and you are seeing those bets fade away as well. tracy: coming up, dubai airport expects the slowest growth in two years in 2017. we speak from -- we hear from the ceo. ♪ welcome back to the best of bloomberg markets: middle east. dubai airport predicted to be the slowest in a decade, underscoring the challenges faced by airports in the region after greg -- after aggressive expansion. we spoke to the ceo of dubai airports about the year ahead. >> interesting start to 2017. the new president of the united policiesrotectionist seem to be in. i after the first few days and campaign rhetoric from donald trump. >> we know quite confidently that open skies policy is good for consumers. consumers can vote with their wallets and elect and choose the best, most convenient, and best value way to complete their journeys. that is what open skies is all about. protectionism flies in the face of that concept of free market open skies. here are plenty of examples. u.s.-canada, particularly restrictive. australia on the other end of the spectrum. tourism has increased, the econ

bloomberg subscribers only at mliv . coming up, we speak to the ceo of dubai airports, changing trends in aviation and how they are affecting his business. this is bloomberg. ♪ angie: this is bloomberg. we're live on bloomberg television and radio. yousef: dubai international airport registered another month of record passenger traffic in august. dataillion passengers, traffic climbing 6%. let's get some more perspective on those numbers and where the story goes from here. joining us, the ceo of dubai airport. thank you very much welcome back,. let's start with the growth protections. let the record month for you. i used to buy airports at least once or twice a week -- it is getting really busy. how much more room to grow to you have? >> at the moment the capacity is about,, 90 millio the we are taking all sorts of measures to improve the process and technology and the idea is by the end of the decade we want to get close to about 100 million. we think it is quite possible. yousef: what are you seeing in terms of shifts in trends? it has created quite a few shifts across air,

other malicious software. one of the world's tallest residential buildings, the torch tower in dubai, is engulfed in flames for the second time in two years. and you're never too old to rock and roll: meet singapore's grandma mary as she prepares for the gig of her life. i'm 81 years old this year, and i'm going to rock the nation at the parade! australian police are saying two men they've charged with terror offences were plotting to bring down a passenger jet. investigators say an improvised device, using military—grade explosives, was due to be smuggled onto an etihad airways flight last month, but the attempt was abandoned before the men reached security. a short time ago i spoke to our correspondent hywel griffith for the latest from sydney. so, the australian federal police in the last one or two hours have given us the full details of what they allege was one of the most sophisticated plots ever on australian soil. now, they claim this was all directed by the islamic state in syria and that these two men in sydney were sent high—grade military explosives via cargo that allow t

dubai. tracy: i am rishaad salamat. , 8:00 ins in seattle the evening on the west coast of the u.s.. we do have scenes coming through as people take to the streets globally. theave a global backlash, second day of it, as we have president donald trump's immigration clampdown taking place. his aides have been offering particular takes on its reach. major international company says it threatens to strangle the free flow of workers. these are live images coming through. this is actually happening right now on the streets of seattle and washington state. just a quick word as to what donald trump has been saying, showing no signs of backing down, issuing states comparing his order to one issued by his predecessor, barack obama. he told fellow republicans who criticized it to mind their own business. this is about terror and keeping our country safe. there are 40 countries worldwide that a majority muslim and not affected by this order. that's what we have at the moment. it is 8:00 in the evening sunday evening in seattle. upsef: obviously this opens an entirely new pandora's box when it

european tour will be decided over the weekend as the race to dubai reaches it's climax. england's tommy fleetwood and justin rose are the leading contenders, although masters champion sergio garcia could pip both of them to the title if he wins the season—ending dubai world championship, which gets under way on thursday. the earth course in dubai will host the final event, as it has every year since 2009 when the order of merit was replaced by the race to dubai. fleetwood has been leading the rankings for several months, although rose closed the gap by winning his last two events. it has just been great to actually wina it has just been great to actually win a race to dubai. this is my fifth time here and i have never ever been in a position like this. it is really cool and special to be here. it is brilliant. yeah, it would mean a lot. it would be the end to what has been an unbelievable year on end to what has been an unbelievable yearon and off end to what has been an unbelievable year on and off of the course. yeah, it is going to be great. we will keep you updated on that event h

bloomberg markets middle east. the dubai airport predicted that passenger growth would be the slowest in a decade. this underscores the challenges facing the aviation industry in the region after aggressive extension. >> interesting start to 2017. a new administration in the united states. protectionist policies seem to be in full swing given the campaign rhetoric from donald trump. how can you sleep at night? >> we are not that worried the cause we know that open sky's policies, such as the one we operate in dubai are good for consumers. free marketas a globally consumers can vote with their wallets and elect to choose the best to most convenient and best value way to complete their journeys and that is what opens guys are all about. protectionism flies in the face of that concept. there are plenty of examples. u.s.. canada is particularly will restrictive. tourism has increased, the economy has increased. the consumerod for and good for the country. >> you have united states threatening to pull out of trade agreements and you have brexit breaking away from the european trade union. are j

had to china to meet the spider men and women of guizhou. anyway, it's off to dubai to take a look behind the scenes at a new show whether performers also need to have a good head for heights. thousands of artists were auditioned from across the world. we chose 65 of them to come here and they came from 23 different countries. so don't go away. essential guide wherever you are headed. next up, we are travelling to china, where for centuries they have climbed the region's sheer cliff faces without ropes. in the past they did it to collect herbs for chinese medicines but we heard they are now putting their skills to a different use. and we went to meet them, and it goes without saying, please don't try this at home. the incredible spiderman and women of guizhou in china. and we are finishing this week by meeting and other group of people with a great head for heights. this time in dubai, home of the world hold —— world's tallest building, burj khalifa, and is also the venue of a new show where gymnasts and athletes are turning years of training into an artform. are turning years

feeling in dubai. and cyclist marcel kittel is punched by another rider on tour of dubai. hi there, wherever you are around the world. welcome to sport today. cameroon beat ghana 2—0 on thursday to reach the final of the africa cup of nations. they will play record seven—time champion egypt in the title decider on sunday, in the gabonese capital of libreville. piers edwards covered the match for us. cameroon are through to the final of the african cup of nations, and how theirfans are the african cup of nations, and how their fans are celebrating. and well they might. they beat ghana, many people's favourites before the match, 2—0, with a super display, largely restrict the black stars too few chances. the opening goal was scored after 72 minutes, and after stoppage time the next score ran half the length of the field to secure a famous 2—0 victory in fine style. as there are celebrations from the cameroon bench and outside the stadium from the cameroon fans. we wa nted the stadium from the cameroon fans. we wanted so much to be in the final, and we did everything to be in

continued in the region of several top companies including dubai investments. the market cap held two and three quarters of a million dollars. after a 10% off at drum, we spoke to the managing director. earlier, he underscored that -- what is your health check on dubai's economy, on the state of play in is part of the world even the ongoing volatility in global markets? the austerity measures? give us -- market, thisancial is a challenge that every company has to deal with. a challenging year the 2017, we can see the potential for growth in the region. global economy is going to grow compared to 2006 -- 2017. the challenges are still there but they are manageable. i think we have a force for growth. yousef: just for context, i put this chart together for your viewers, you can pull it up at 4017. the line in blue is the dubai benchmark. it is on a 100 basis. you would have double your money in cit stocks. question becomes, what are you looking for when it comes to your expansion plans? how about saudi arabia? is that of interest in terms of diversifying away from your overexposure in d

first: bank of abu dhabi dubai forward. showing dividends in kuwait. clouding the picture. cross over gears and some of the key assets we are watching. what a magical number, up 0.75. what a quarter. who would have thought? the dollar index, pretty much unchanged. tracy: we are going to talk about some of those interesting abu dhabi stories. first, let's check on the first word headlines. president cici is set to met donald trump monday. this is the first state visit since being elected in 2014. tionsle -- rela past.trained in the to be changing its policy to syria. speaking to reporters, sean spicer said the trump s there istion say a need to de-escalated violence. this comment came after nikki haley said the priority is no longer to focus on removing president assad, which would mark a major policy shift. bank raisedral interest rates for loans aimed at small and medium-sized institutions. they increased the rates by 20 basis points, to 3.3% to read a stable economy and rising rises have given it scope to tighten policy in order to keep up with the fed. new finance's minister says h

. with three events left until the race to dubai champion is crowned, contendersjustin rose and henrik stenson have been speaking — the first rounds gets underway at the turkish airlines open, in antalya. and rose says it'll be difficult to catch race to dubai leader tommy fleetwood. he can still play good goal. i know he has had not the biggest week of it is playing well. i expect some strong weeks to finish out, but yes, ifi strong weeks to finish out, but yes, if i win one more, i have a chance. there is still chance to challenge the guys who are top of the race to do by rankings. so in trying to do that, i know and i need to win one or two of the last events. —— race to dubai. but knowing that i have one in dubai before, i to dubai. but knowing that i have one in dubai before, lam to dubai. but knowing that i have one in dubai before, i am excited. in the champions league, we saw totte n ha m in the champions league, we saw tottenham qualify for the championship stages after beating real madrid at wembley by three goals to one. they go through, with two games still rem

buildings — the torch tower in dubai — is engulfed in flames for the second time in two years. i'm ben bland. fighting to regain the crown. toyota set to reveal a fall in profits as it slips from the world's number one carmaker to the world's number three. plus, when the olympic flame dies. one year on from the games, how rio‘s property boom has turned to bust. hello and welcome to bbc news. police in australia say two men charged with terrorism offences on thursday were taking directions from a senior islamic state commander. investigators believe an improvised device, using military—grade explosives, was due to be smuggled onto an etihad airways flight last month, but the attempt was abandoned before the men reached security. hywel griffith reports from sydney. described as one of the most sophisticated terror plots ever on australian soil, officers say they have ended a plan which could have caused catastrophic loss of life. they believe the man and his son we re they believe the man and his son were sent high grade military explosives by the so—called islamic state by air cargo and

of course just a few months away, so all looking good for them. 20 years ago, dubai set out to become one of the most talked about towns in the world. since then, this young city state, one of seven emirates in the uae, has largely succeeded. it's become one of the fastest growing tourist destinations on the planet. synonymous with spectacular skyscrapers, gigantic shopping malls and high—end hospitality and also the occasional stories of tourists who fall foul of local customs. but scratch deeper and there's much more to this place. no longer the brash new kid on the block, dubai is now an established hub and one of the world's few truly global cities. and although the impulse to impress is still here, there's now a complex identity taking shape and i'm here to see how that's changing the look and feel of dubai, its people and its future. this is the creek, the real heart of old dubai, and gorgeous in this light. now, this used to be a real trading hub for the city and the kinds of boats you can see behind me bring in spices and other goods from countries like india, iran and much