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 that affecting your business? you are concentrated in dubai, and this is a place that gets easily affected by changes in the strength of the green back. >> i think the strength of the dollar reflect the strength of the economy, and it reflects dubai and dubai real estate as a safe haven for investment on a long-term basis. our core marks remain juicy. doctor our corvo markts remain juicy. that doesn't impact the strength or weakness of the dollar. the asian markets, we have seen more demand when the dollar is a strength. ar is a great motivator, and fear tends to make a flight for safety. >> how much cushion do you have in the downs

it took dubai four years to come back. if you compare that to london in the early 1990's, asia, the 1980's, it took them 9-10 years to recover. 2012,had a great run in 2013, 2014. yousef: will we see more downside pressure? sideways for 2017, and it is healthy for markets to do that. are when worrying prices go up strongly in a short time. especially when a product is sold on a credit basis. yousef: we are seeing strength in the u.s. dollar, one of the key themes for the last few weeks. how is that affecting your business? you have a lot of exposure in place easily affected by changes in strength of the greenback. the dollar of reflects the strength of the economy in the uae and reflects real estate as a safe haven for investment on long term basis. our core markets remain gcc, where the currencies are pegged, so that does not impact the strength or weakness of the dollar. the asian markets and some continental markets, we have seen more demand on dollar strength because fear is a great motivator and people think things wi

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 is a safe haven for investment on a long-term basis. remain, theyets remain whether currencies are pegged. that does not impact of the strength or weakness of the dollar. the asian markets, we have seen more demand from them with a dollar strength because here is a great motivator. people think things will get worse before they get better. people look for a flight to safety and dubai offers that for the region. >> how much cushion do you have against downswings in that dubai market where you are highly concentrated? are you planning to expand your assets from beyond that city, more than you have already? >> if you look at our history, we have been predominately dubai -focused. 90% of our deliveries came from dubai over the last 10 or so years since we started delivering in 2006. dubai will continue to be a core market. our land bank and operating profits w

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 quintessentialle british market and dubai is one of them. we talked about occupancy rate. it is interesting if you go to dubai, i know dubai well having been the correspondent there. there is so many hotels, you can't move for hotels and they have got an ambitious target to build more. your competition is changing by the day. new hotels are open, more occupancy, how do you get people in these rooms? how are you going to fill the rooms? how are you going to fill the rooms? dubai tourism do a great job in really promoting dubai as a destination and they continue to do that. there is a lot of money inve

i am in dubai. shery: i am in hong kong. we are seeing the asian regional benchmarks give up earlier gains. there counting down to market opens in the emirates in just over an hour. seeef: we will definitely some pricing in off of the latest decision from the united dates. we will see some more details and reactions from investors. out ourlso watching properties, they operate in the middle east then north africa. they are looking to increase their recurring revenues by 2020. hiring inout about kuwait. watch out for turkey. moody's is citing weakening capacity of the government of turkey to his provide support. joining us is a bloomberg reporter. what is driving the oil price? oil is slightly up today, but if you look at it, we are bouncing around at a lower range and we were in before .fter the opec decision to cut we were looking at low 50's to high 50's before. now we are looking at the upper 40's to the low 50's. that is the newer range now, perhaps. we news is bearish because have news that libya is coming back and tryin

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 can agree. a lot of things happening in the world. let's check in with first world headlines. reporter: they're working on the assumption the attack in london was inspired by islamist terrorism. officerly stabbed an before being shot and killed by police. the head of counterterrorism saying investigators have identified the attacker but would not give further detail. comment on this s

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

in dubai, 4:00 a.m. in london and midday in hong kong, i am tracy. we had a pretty macro heavy week last week, we had the fed we also had noises out of the ecb and the bank of japan. let's look at how markets closed in the u.s. a bit of a mixed day for u.s. market, s&p 500 closing down about three points. as was pointed was up but it seems like the rally lost a .ittle bit of steam the russell 2000, amazing gains since donald trump got elected. let's look at the european markets, the ftse, the dax and -- it seems like the optimism we saw on wednesday was running out of steam. where we saw optimism was here in the middle east where we are two hours away from the opening of a fresh week in emirates markets. let's take a look at what happened on thursday, strong gains amid a broad rally on emerging markets. dubaillar rally up -- the up twop, qatari stocks thirds of a percent. again, a stunning, stunning rally in emerging markets. a softer dollar and a recovery in oil where we had rent and the wti holdingt and some gains ans after friday's trading. let's

in dubai. trade figures coming in way outside of the forecast. a surprise for the deficit in three years. they soared at 45%, nearly double the thinking. than one third of what analysts have been calculating. exports in the u.s. rising. about $32 billion. wikileaks has published thousands of documents today can break the cia into ios and android mobile devices to monitor messages and smart televisions. the material includes malware, viruses, security weaknesses and several hundred million lines of code. the cia does not comment on the authenticity of supposedly intelligence documents. the architects of oil have stabilized prices with a front. saudi arabia and russia that knowledge it is not draining as quickly as expected. they could be an extension of restrictions into the second half of the year. it is a subtle shift from six weeks ago. wendy extension probably would not. the world's biggest copper reducer -- producers said they could produce higher prices. says a wage dispute could push supplies into deficits. bhptiations between bhop -- and t

there is a slight downside in dubai, the kingdom to the upside. pressure,s were under financials being the weak link. heavy selling in dubai dragging down the index 1.65%. this was a destocked to watch. and in qatar we saw heavy selling, egypt losing ground as well. down i point of an percent the last five trading days. last five.7% of the trading days. joining us more is the man from that national bank of abu dhabi security. qatartalk about the story. but i want to start up with your speech take and what it means for traders. >> everyone is following it, but i don't hear anything that gives me more details or anyone that can direct investment or change in investment strategy. the outcome, the dollar stays where it is. the biggest question, we move from being the speech of president trump to yellen's address and the meeting of the fed in mid-march, and interest rate will be increased or not. but in terms of what we heard there, i guess it was neutral, maybe for trump from what we saw. yousef: getting into that story shortly, let's get to qatar. i

i am yousef gamal el-din in dubai. >> and i am shery ahn in hong kong. our guest will pick the winner of our charts. take a look in my chart about inflation and expectations. time inflation and expectations fallen to a record low. that would be the blue line on the top panel. the white line, break even, the lowest common matching the long-term average in the second panel. that is the line in yellow. can we finally say that main street and wall street are in agreement? consumers we're worried about inflation. what does that mean for the fed? i am looking at the call about the storm raging debate as to whether we're heading into a bull market over a bear market. you can see that is your yield right there. 2.2%.ttom red line, the forecast goes all the way up to 3%. the bottom panel is your 10 year yield. he can see how much it has gone down. analysts are saying that the fed the $1.75 trillion position in mortgage-backed securities. take that. >> it is not easy. it is not easy. for the first time, the federal reserve and t

we have look at dubai and bahrain. meeting with had a the chairman of the bahraini chamber of commerce. he was saying it would be very good for us to establish a bank there. reporter: when do you think a decision would be made? >> by august of this year. by september or towards the last quarter of this year we will have a banking presence in that area. reporter: i've also heard you're refining attract oil in the philippines. is that happening? improvinglooking at their investments in the philippines. refinery wouldl be perfect for us. reporter: how about brexit? 200,000 filipinos in the united kingdom. fouling --een the falling pound sterling which will be reduced coming back into the philippines. will be the direct impact of that pre-brexit? >> we get around $29 billion a year from os w. every dollar counts. worried about the how. i believe our countrymen are i'm sure they will continue to support their families and the philippines. although probably a lesser amount because of the severe changes in the value of the cu

they built most of the projects in dubai. they have to go through what they have done through last two or three years. i think starting with selling the non-core assets is a good start. you don't need your non-core assets at the moment. recapitalize the company. you will have operating cash flow and be able to submit and apply for new projects. they do have new projects in the pipeline. i totally believe that this company could make a comeback if the restructuring plan goes the right direction. but again, selling non-core assets is a good way to raise cash. tracy: let's broaden it out a little bit to one of our other big themes for the show, and that of course is the possibility of the fed raising rates as soon as march. what do you think the impact of fed tightening will be on the region given that we have a dollar peg from a lot of countries? nabil: that's right. years, it will be a quarter-point for each of them. in the short term, i don't think it will really affect that. long-term, if they keep hiking hatsates by a quart

tracy: you are watching bloomberg, i am tracy alloway in dubai. shery: a quick check of some of the other stories we are following. says he isaire owner planning to buy as much as $2.4 billion worth of american shares. he may buy a stake of up to 13% after failing in a bid to march the company last year. that would make him the second-biggest shareholder. it would be a family investment, and not a takeover bid. the king of morocco has removed's prime minister in a rare move aimed at settling a deadlock over forming a government. the decision was made public late wednesday. he won the election in october, but not with enough seats to govern alone. king mohammed is expected to name another one as premier. barclays africa sold less than half of its target in a south african bond option as it competed with a wave of debt issuance from other lenders. the bank raise just under $50 million worth of randa nominated up bonds. let's get more from rob brand in cape town. walk us through what went wrong with this bond sale. does it say more about barclays afr

i'm tracy alloway in dubai. david: i'm david in hong kong. australia is hoping to get ahead of the game by strengthening ties with regional partners as president trump considers his relationship with asia. foreign minister julie bishop is spending the next week visiting malaysia, philippines, and singapore, where haslinda amin is standing by for us. a very timely visit. it is because australia is looking to reshape its foreign policy over the next 10 years. let's get perspective. how is australia navigating all of that? >> we are going through a period of extraordinary change. the last 12 months, there has been unprecedented events -- britain exiting from the european union, the successful campaign of president trump in united states. there are also challenges to our assumptions on the international order that has been the framework since the second world war for the prosperity and security of their part of the world in particular. all this is a challenge at present, so i will be speaking about the challenges but also the opportunities i see

ownedmpany was previously by an entity of the government of dubai. it has been a while and that they have been saying that they would purchase assets. yesterday they announced it to companies that they are in negotiations to buy right now but the chairman of the company gave an interview to a local media saying that they are about to merger the company -- it could be a merger, it could be an acquisition -- it is not clear. -- names and situations that may come next. >> this is the big thing that investors have been looking for, evidence of more deals in the financial sector. do we expect more on the way? >> we definitely should. siddiqui was very clear when he said -- they had a press conference to tell the market a little bit more. he mentioned that acquisitions and expansions in strategic markets like egypt, saudi arabia -- are on the radar for schwa. -- shuaa. not be surprising to see a rally. they were trading 10 times higher than the 30 day average. people are interested. with projected growth, ethiopia will remain africa's fastest growing econo

murray has to dig deep in dubai...he‘s pushed all the way by kohlshreiber in the quarterfinals and remembering a lisbon lion and a celtic legend...tommy gemmell has died after a long illness . good evening, it has been a terrible week for british cycling,

seven match points saved in a half hour tie break as be scrapes into the dubai semi—finals. and hear the tigers roar. they have thrashed the rhinos tonight to stay top of the super league. good evening, what a terrible few days it's been for british cycling. today they apologised for ‘failings' at the conclusion of the review into a culture of bullying and discrimination at the organisation.

seven match points saved in a half hour tie break as be scrapes into the dubai semi—finals. and hear the tigers roar. they have thrashed the rhinos tonight to stay top of the super league. good evening, what a terrible few days it's been for british cycling. today they apologised for ‘failings' at the conclusion of the review into a culture of bullying and discrimination at the organisation. they have promised to implement a 39 step action plan to improve athlete and staff welfare. yesterday they admitted to ‘serious failings' in their record keeping, missing medical records that has hampered a uk anti—doping investigation, that enquiry centres on sir bradley wiggins and a package hand—delivered to his doctor six years ago after he won a race in france. its contents can't be verified and sir bradley wasn't offering any answers today. more forthcoming was the chairman of british cycling, joanthan browning, who has been told, by uk sport's chief executive liz nicholl, ‘to restore his sports credibility‘. browning who has only been in the job for a month spoke to ou

and finally, robot cops in dubai. gulf news says that the uae is set to get its first police robot in may — and that police officials there want to make robots 25% of their police force by 2020. joining us is david buik, market strategist at investment bank panmure gordon. thank you for being with us. what an eclectic bunch of stories we have today. we always try and please, you know? what a shock this was for us and the government, and nicola sturgeon on all of the front pages. she is a piece of work. her timing is brilliant. anybody worried about the wooden spoon department, unbelievable. i think the thing that she wants to get the fullest effect is that clearly, as she described it, theresa may is not moving at all. there is no use at all. the interesting thing about this call for the second referendum is that the scottish economy is probably in worse shape than it was three years ago. why? first and foremost, oil is significantly lower in price. that isa significantly lower in price. that is a very significant p

and sir andy murray claims another trophy, as he wins the dubai championships for the first time. good evening. donald trump has accused barack obama of having his phones at trump tower in new york tapped, during last year's presidential election. in a series of messages on social media, president trump called mr obama a "sick man" and compared the alleged bugging to the watergate scandal. a spokesman for mr obama said claims that he had ordered surveillance of any us citizen were "simply false". our north america correspondent, nick byrant, reports. it was warm handshakes and friendly bonymaen on inauguration day as donald trump peacefully took power from barack obama, two men fiercely hostile in the election campaign, coming together in a show of presidential and personal civility, but early this morning donald trump launched the kind of public attack ona launched the kind of public attack on a predecessor which in modern times is completely without residence. terrible, he wrote in a twitter tirade —— without precedent. abe road from rally outside his towel in new york, —â

and murray has reached the qaurter—finals in dubai after another straight sets win. good evening. the head of uk anti—doping revealed today how their investigation into allegations of wrongdoing in british cycling has been hampered by either incomplete or non—existant medical records at the organisation. nicole sapstead was giving evidence to a government select committee who are themselves looking at the issue of doping in sport. we also heard from the cycling coach who delivered a medical package from the uk six years ago to sir bradley wiggins and his doctor in france. let's speak to our sports news correspondent richard conway who was following today's select committee session. richard, a lot of eyebrows raised at a few things said today, and that mystery package remains a mystery. it does. the first person to appear was assignment. he is to work for tea m was assignment. he is to work for team sky. he talked about how he had been asked to deliver the package to doctor freeman in france. he said that he went to the team sky british cycling headquarters in manchester. there

and it's a second round exit for roger federer at the dubai championships. hello and welcome to the programme, where we start with the news that barcelona head coach luis enrique has confirmed that he won't be at the club next season. the 46—year—old is in his third season at camp nou and won the champions league as part of the treble in his first year at barca, and led them to the domestic double last season but this campaign has been more problematic including a 4—0 loss in the opening leg of their champions league last 16 match against paris st germain. earlier i spoke to radio catalunya's ernest macia who believes now is the right time. probably this is a good moment because in canberra present a relapse for the team and a stimulation and a release for the team. now there's tension, today they won easily 6—1. it was against sporting dejong, one easily 6—1. it was against sporting de jong, one of easily 6—1. it was against sporting dejong, one of the teams that eventually will be relegated. but at barcelona we are watching a team that's losing

the world number one beat fernando verdasco to clinch his first dubai championship trophy. a dominant wasps see off bath to extend their lead at the top of the premiership. also coming up in the programme: after the war of words, it's finally fight night — haye versus bellew, with the haymaker the heavy favourite. and life after cricket — former england batsmanjames taylor has been sharing his experience of coping with an unexpected exit from the sport. so a cracking day of sport for you. we're starting with football and plenty of twists and turns in the premier league today. many neutrals had half an eye on leicester, wondering if their post—ranieri renaissance would continue against hull, more on that in a minute. and there's a huge game at anfield going on now between liverpool and arsenal. but the day's fixtures began with a frought match at old trafford where a ten—man bournemouth held on to draw 1—1 with manchester united. alex gulrijani was watching this one for us. wayne rooney has called old trafford home for over a decade and jose mourinho wants him and

into the dubai championships semi—finals. and british cycling lurches further into crisis after admitting "failings" within the organisation. hello, and welcome to the programme, where it's spain's primera division where we start, and the news that atletico madrid and spain striker, fernando torres, has been taken to hospital after a heavy collision in their 1—1 draw away to deportivo la coruna. torres and deportivo‘s alex bergantinos went up for the ball five minutes from the end of the match. the 32—year—old appeared to lose consciousness and landed head first on the turf with players from both sides racing to his aid before medical staff attended to him and removed him from the field on a stretcher where he was taken to hospital. the club have tweeted since torres was taken to hospital, saying this. "torres suffers a head injury. he was rushed to the hospital to undergo tests. he will spend the night in hospital for observation." and then this. "thanks for the messages of support for @torres. he's stable and consci

andy murray breezed through the first two rounds at the dubai championships, but he's having it much tougher in the quarterfinals. the world number one is facing the german philipp kohlschreiber who is ranked 29th in the world. kohlshreiber has only beaten murray once in five meetings but has always taken at least a set off the scot, and he edged the first set on a tiebreak. the first break went to murray early in the second set though, to give him a 2—1 lead but he wasn't able to hold on to it ...the second set went the way of the first into a tie break and it was an epic one, murray saved seven match points, he eventually took it 20—18 to level the match and we're into a third and deciding set. we will keep across that for the rest of the evening, that is it for sports day, from now for all of us —— from all of us from the bbc sports centre it is goodbye. you are watching bbc news, it is coming up to a quarter to seven. the police watchdog has warned that there will be cutbacks to the forces in england and wales and they are putting the public at risk because services are h

tracy: i'm tracy alloway in dubai. kuwait is set to raise $8 billion, actually it has raised eight ilion dollars in its first ever international bond offering. that makes its the latest in the string of countries resulting to foreign investors to bridge deficits caused by low oil prices. is the bloomberg economy and government editor for the middle east. to start off with the pricing. we had a guest on yesterday. as of the doubt these, instead it is tighter. where's all the demand coming from? >> the first time it is not a chunk of change. it is a significant amount. it was more than three times over described. $29 billion in bids. that allows kuwait to tighten the price. tracy: it has been a record year for golf government bond issuance including saudi arabia's mega 17.5 billion issuance. do you reckon is there is more to come? yes.ter: it is safe to assume that. hundreds of billions of dollars of combined deficits in the years to come. we had a talk with the debit the prime minister. to -- they'reg are not going to b

andy murray has chalked up his first tournament win of the year at the dubai championships. after a shaky start, the world number one saw off fernando verdasco in straight sets, as patrick gearey reports. the dubai tennis championships trophy is certainly one for a collector of andy murray‘s distinction. competed for under the gaze of the sheikh and started with a haze of breaks, one blurring into another. first fernando verdasco forced things his way and then murray steadied himself, adjusted and heaved the set more decisively in his direction. it soon became clear verdasco had lost something. the first set was over injust half an hour. and yet the world number one had rarely been at his best. he said that for the odd flourish. just as the spaniard thought he had the point, murray whipped it away from him, a man in a hurry. get back soon or you will miss the end. get back soon or you will miss the end. it was a matter of time before the end. fernando verdasco had only beaten andy murray once. there was a persian gulf between them. it is his first title of the year and yet

we'll have a report from dubai coming up here. >>> welcome back. flying to the united states and the united kingdom from some airports in the middle east and north africa is about to get much more complicated. several airlines now must stop passengers from bringing laptops and other large electronic devices into a plane's cabin due to new restrictions that take effect this weekend. >> safety restrictions. the move is attributed to concerns about potential terrorist attention. john definite teirry shows us hw it affects millions. >> reporter: and the added twist of an electronics ban going into effect for flights to the united states. paul griffiths is ceo for dubai airports. >> we have our teams mobilized, we've offered all the assistance we can get to both customers and the security forces that have to enforce this. obviously it may not go completely smoothly, but we are pretty adept at change and ad t adopting new things and new thinking. and if it doesn't work, we will do something different that will work. >> reporter: emirates airline is allow

gsh and sure capital in dubai. any indication we could see a deal happening this week should move stock in dubai. here in kuwait we have a big conference going on held by the capital markets authority. that is happening today. as we just spoke, there are a lot of interesting markets. the stark exchange will be there. topics like liquidity and regulation will be brought up. tracy: we would like to bring your attention -- we're going to bring to your attention the tv function. you can look at it right before we finish the show. this is bloomberg. ♪ announcer: the following is a paid presentation for the bye bye foundation "beautiful you" collection from it cosmetics by jamie kern lima, brought to you by guthyrenker. ♪ announcer: imagine having skin that looks this beautiful, this flawless, without having to wear foundation. imagine a product that covers everything but looks and feels like you're wearing nothing. imagine one product that is clinically shown to make your skin younger looking in just 10 days an

dubai and istanbul. >> no electronics from six middle east countries as of today into england. >>> kpix 5's anne makovec tells us, the mayor just signed a first-of-its-kind law to stop special registries based on religion and national origin. >> reporter: it's called the noncooperation with identity- based registry ordinance. >> basically, we are saying, we are not going to approve a registry in the city or the country. [ applause and cheers ] >> reporter: san francisco mayor ed lee stood with city leaders and human rights people to sign an ordinance passed in february a move against any future discrimination or ban against muslims among others. the legislation would prohibit city agencies from housing in any government program that requires a database or registration program based on religion, ethnicity or national origin. >> this signing today reaffirms our sanctuary city. despite what's happening nationally, we'll continue the fight against discrimination and anti-immigrant sentiments. >> reporter: this ordinance would have some teeth giving individuals or nonprofits the right to sue

and i remember in dubai there was a conference. said, ihat time i believe the next president should be donald trump. everybody did not like that, but that is the truth. busy week have a ahead in the region. we speak exclusively with the cfo and cover the big stories from the region. morning in the uae, >> in his 1:00 p.m. in hong kong and i'm ramy inocencio. stepping downis from any inquiries to russian influence in your politics after the justice department said he met moscow's investigator twice moscow's ambassador twice. president trump said he has total confidence in his attorney general. japan's core inflation rose in january for the first time in 14 months. household spending fell 1.2% from one year earlier. that is three times a forecast drop. hyperinflation is that the heart of japan's economic revival efforts with hopes. on higher oil prices and a weaken.

. >> reporter: the dubai office of the japan external trade organization has joined hands with nearly 2 dozen japanese firms to tackle the issue and they're in close contact with the uae law enforcement authorities. their information sharing is stricter controls they hope to stop the swelling tide of fake goods. nhk world, dubai. >>> and next is the three-day outlook on the world's weather. ♪ ♪ >>> and that's all for now on this edition of nhk "newsline." i'm raja pradhan in tokyo and from all of us at nhk world, thanks for watching. y >>this week on global 3000 wehead to the gambia where peope are celebrating their new-founddemocracy, their new president and the end of a dictatorship.in the u.s., immigrants are suffering increasingdiscrimination. far right groups are on therise. but we start in mosul, in iraq.after being liberated from islamic state, people in thecity are experiencing a fresh start.in the summer of 2014, so-called islamic state declared acaliphate made up of territoris it had occupied.since then there has been bitter fighting between members of theterror group an

he was in dubai, heading up a trade push into the region. before we spoke of brexit, i asked about his thoughts on the president's speech to congress. obviously would be concerned with the rhetoric we hear, but there it is. we produce0% of what as an island nation. our food goes to 180 countries worldwide. obviously the u.s. is important. it with any developments that see every nationalization, the closing of trade opportunities would be of concern to us. in terms of trade deals, we have pooled our sovereignty. the european union negotiates on behalf of trade deals. we would look with concern, putting in the transpacific partnership. ttip is in jeopardy. we will have to see how this pans out. you would not say this is a new age of protectionism given the political move across european -- [please stand by] you would not say this is a new age of protectionism -- n the political move we are looking for new up market opportunities, trying to diversify out of the u.k. markets. we have a footprint here, seeking growth. yousef: brexit and the prior

we are in dubai to see how travelers are reacting. we are going to speak to the largest holder of french debt. we ask the head of fixed income for his strategy ahead of the election. matt: we are less than a half-hour away from the european open. take a look. first off, at futures at the drop-offs in u.s. markets. we had more than 1% drop in s&p 500, actually 1.25% drop. we had futures down here in europe as well. take a look at bunds here. i will pull up a two-day chart of burnds. gains for days of yield so investors buying german debt and it weighing on the yield here. guy. guy: let us take you around the dmn. -- the gmm. yasiel market is down by 1.56. japan by 2.13. the dollar is bouncing back a little bit. in some ways, that is logical. the dollar doesn't feel that criteria so we are seeing that clearly. look at the aussie dollar, swedish krona. that is the trade you are seeing at the moment. there is a number of interesting things going on here. we are going to discuss why we are seeing this selloff in a little bit more detail. t

. >> reporter: the dubai office of the japan external trade organization has joined hands with nearly two dozen japanese firms to tackle the issue. they're in close contact with uae law enforcement authorities. through information sharing and stricter controls, they hope to stop the swelling tide of fake goods. hideki nakayama, nhk world, dubai. >> and you can catch our report again online together with a full transcript. just look for nhk world and business wrap. that's a look at business news. i'm going to leave you with the markets. >>> japan ease emperor akihito hosted a luncheon in tokyo for the visiting king of saudi arabia. king salman arrived at the imperial palace shortly after noon on tuesday. the emperor gave a warm welcome to the monarch. three years ago, the emperor hosted a banquet for the king when he visited japan as crown prince. japan's imperial household agency has been reviewing the aging imperial couple's duties with an eye toward scaling them back. it had announced they would not hold any more luncheons for heads of state or other dignitaries. but one official sa

andy murray reaches the quarterfinals in dubai—macro after another straight sets win. the fa cup line—up for the quarterfinals is complete. they huddersfield face manchester city eddie etihad. the championship side taking the lead, but city were too strong, with five goals in reply. it would not be the fa cup without those tinfoil trophies and dreams of an upset. amongst huddersfield town's 8000 travelling fans, plenty of both. for a few minutes, at least, the optimism felt well founded. harry bunn, huddersfield have the lead. at least sometimes in this tournament, there is no room for sentiment. leroy sane scoring for city, determined to end the upset. sergio aguero broke down in the box. a moment to show how ruthless they can be. this is a very different sides to the one held a fortnight ago. then they could not score. here they had three before the break. pablo za baleta had three before the break. pablo zabaleta this time, the premier league quality starting to tell. behind, but still the chance, occasional and after deep huddersfield hoping. keeping those fa ns

let's take the likes of doha and qataror dubai this. let's take the likes of doha and qatar or dubai in the united arab emirates, there are so many flights going from those airports to the uk every day and so much business is dependent on those routes that we really don't want to inconvenience passengers travelling on business on those routes. it's probably on business on those routes. it's pro ba bly less on business on those routes. it's probably less arduous for people travelling to the united states where there are fewer flights. but there again, if there's a security problem, we need to address it. the real way of addressing it is to start to look for the employee that's a problem, the passenger that's a problem, the passenger that's a problem and notts just sudden —— not just that's a problem and notts just sudden —— notjust suddenly thinking about the latest item to ban. because the terrorist is thinking about the next way to by pass security. they've tried underpants, shoes, printer toner cartridges, they've ii? crutches

we think the market will suffer intoless foreign inflows dubai specifically. i think gcc governments will react by raising rates as well. again, low e.m. correlations are very off. we like markets like kuwait or egypt where the dollar dynamic is important. >> one of the most exciting stories in both oil markets and the equity market here is saudi ronco. you said it might be worth no it might be worth no more than 1.5 trillion which would be below the basic 2 trillion estimate. walk us through the idea. conference and-1 did a survey of the questions people are interested in. there has been a lot of chatter about how much is it worth. obviously this is not my area of expertise but i think it will depend on the tax level saudi arabia will have. form.so what shape or answer thatrly to but all of these changes will be important determining the valuation. >> we have been hearing for years about the countries here trying to develop bond markets and get more foreign capital to help finance. you mention some of those were getting squeezed. that n is a way to do that. w

murray almost cracked yesterday, but there were no dubai drama today, and he's into the final tomorrow. weighing up the opposition, it's finally time for the gloves to do the talking. also coming up in the programme, some big shots of captain morgan have given the windies a headache in antigua. and also a cracking first day at the european indoor athletics championships. good evening. there's so much sport going on today, it feels like the weekend has already started, we'll bring you right up to date with the cricket and athletics later in the programme, but we'll start this evening by looking ahead to the premier league. the runaway leaders chelsea don't play until monday night, so the chasing pack could close the gap. liverpool can break into the top four and jump above arsenal if they can beat the gunners. earlier, i spoke to the former liverpool striker dean saunders about the weekend's fixtures, starting with that match at anfield, and why he thinks liverpool are struggling at the moment, with just one win since the turn of the year. marney won the game against spurs, a big game,

if you are in singapore firm mumbai, you don't have to go through dubai. they are very vulnerable from that point of view. stronge facing headwinds. i suspect they are getting together. we will get some sort of reaction in the coming days. it out of the gate, everybody is telling . -- towing the line. yousef: that is it. kuwait be live in speaking to key energy ministers. we will also get more information on the decision to restrict electronic devices from certain cities in this part of the world. we will be here sunday morning at 8:00 on bloomberg television. ♪ it is 1:00 p.m. in hong kong. trading after losing $4 billion of market value. it is not clear what happened. short seller muddy waters the company is worth close to zero. has tightened home lending rules to curb risks. newly divorced couples will be considered second home buyers and lenders cannot offer mortgages using leveraged products as down payments. prices are rising again after a brief drop.

andy murray eases into the final of the dubai tennis championships. and perfect pozzi, as britain hails its new european indoor hurdle champion. good evening — let's begin with cricket, and england have made a great start to their one—day series in the west indies with a 45 run victory in the opening match in antigua. captain eoin morgan lead by example hitting an impressive century whilst bowlers woakes and plunkeet each took four wickets. hannah lupton reports. if england were hoping for a smooth start, they did not get it. new england test captain joe start, they did not get it. new england test captainjoe root, he was $0011 england test captainjoe root, he was soon out. this is the million dollar man ben stokes, doing what he does best, not even this chap could steal the limelight from eoin morgan, the captain leading by example and reaching his tenth one—day century in style. the hosts set 297, and that looked unlikely after losing three wickets forjust three runs. the middle order fightback produced two half centuries, when steven finn ran

preparing for the new season — yorkshire taking on lancashire in a friendly this week in the warmth of dubai. these two clubs know they'll at least host matches of the new tournament at their grounds. others, however, will miss out. i think they might be quite disappointed that they've not got a franchise, say it is one of the smaller grounds, but on the other hand, i think i'll be getting quite a hefty severance package anyway, so at the end of the day they can grow their game. tomorrow, here at lord's, the ecb's board will formally begin the process of changing their own rules to allow this tournament, with final ratification possible as early as next month. such is the sensitivity around it, the counties have been told not to comment at this stage, but some traditionalists are concerned that it could do lasting damage to the status of the existing county competitions. not at all. i think what we're doing here is future—proofing county cricket for the future. cricket has been a sport which has always had the ability to evolve, to actually innovate and change where it's needed to. with mo

andy moray wins the dubai championships for the first time. sinn fein are celebrating their best ever showing elections to the irish assembly. we have 127 seats, just one behind the democratic irish unionists. gerry adams has described the result is an end to the old status quo. the two parties now have three weeks to try to agree a new power—sharing coalition. in the past hour gerry adams said the result was of huge significance. the election yesterday was in many ways a watershed election. and we havejust started a process of reflecting what it all means. but clearly the unionist majority in the assembly has been ended. and the notion of a permanent or perpetual unionist majority has been demolished. we need to reflect on that, but so do the leaders of unionism, and so does everyone on this island and particularly the people in this part of the island. speaking alongside him, michelle o'neill set out the steps she would be taking over the coming days. later on today and tomorrow morning i intend to have a conversation with both the british

♪ >> welcome to the best of "bloomberg markets: middle east. " i'm yousef give it a mean in dubai. >> i'm shery ahn in hong kong. president trump gave his first address to congress in a special joint sitting where he took a more measured approach. the speech was light on detail about his plans on tax and regulation. yousef: american crude stockpiles hit a record, stalling price gains as other producers cut output. saudi arabia's parallel market index surged on sunday. we asked of the capital market authority how it plans to attract more foreign money. yousef: first, to the most anticipated of events this week. executive editor craig gordon summed up of donald trump's speech on capitol hill. craig: i think this is one of the more closely watched presidential addresses to congress i've seen. we have heard a lot from donald trump on the campaign trail. we haven't heard much from him as president filling in the details on key promises like repealing obamacare, like his infrastructure plan, like boosting defense spending. he almost gave no details. a lot of folks in washington are going to

dhabi, dubai, just some of those cities. why this change this morning? a little more than year ago a laptop packed with explosives detonated shortly after takeoff in somalia, blowing hole in the plane, the pressurizing the cabin. dhs is trying to avoid a similar instant. the new report airlines have 96 hour starting this morning to comply. that's just four days. this only applies to airlines with direct flights. but this policy has no end date for now. we should point out that no u.s. carriers have direct flights from those countries into the u.s.. keeping a close eye on this morning, we expect more details today and we will pass them along as we get them. autria? they start offering free movies, then. president trump, heading to capitol hill for the gop overhaul of the health-care bill. he just got back from a trip to louisville, kentucky, to drum up support. a vote on the newly proposed to build come as early as thursday. director, the fbi james comey, making it clear on the hill that investigation into russian interference in the 2016 election is well

we have looked at dubai and bahrain. days ago, i had a meeting with a chairman of the bahraini chamber of commerce. he was saying it would be very good for us to establish a bank there. wendy think a decision would be made? carlos: august of this year. by the last quarter of this year we will have a banking presence in the area. >> i understand you are trying to attract oil in middle east companies. is that happening? carlos: yes. we are looking at improving investments in the philippines, probably an oil refinery would be perfect for us. >> how about brexit? 200,000 filipinos in the united kingdom remitting $1.4 million every year. there has been the falling pound sterling, which will reduce that. what will be the direct impact from brexit, worst-case scenario? carlos: the philippines, we get around $29 billion per year from ofw's. every dollar counts. certainly we are worried about the past -- about the pound. and of course the filipinos there. we believe they are very resilient and they will continue to support the fa

our people have been surveying the areas and they have looked at dubai and bahrain. a couple, or 10 days ago, i had a meeting with the chairman of the bahraini chamber of commerce. he was saying it would be very good for us to establish a bank there. >> and you think a decision would be made? -- when do you think a decision would be made? >> by august or september of this year, we will have a banking presence. perhapsrd you are trying to attract will refinery in the philippines by middle east companies? >> we are looking at improving their investments in the philippines and certainly a refineryobably an oil would be perfect. >> help out brexit? -- how about brexit? u.k.00 filipinos in the remitting $1.4 billion. what is going to be the direct impact from brexit? >> the philippines, we get yeard 2 $29 million a that way. every dollar counts. we are worried about the pound, and of course the filipinos there, but i believe our countrymen are very resilient and i am sure they will continue to support their families and the philippines, although probably at a lesser amoun

despite winning the dubai championship earlier this month, murray was far from his best. it's not all over for murray though, he'll now concentrate on the doubles competition alongside his playing partner evans. todayit today it was not so much these serve volley, it was my own serve. rather than not getting enough opportunities when he was serving. soi opportunities when he was serving. so i think that was more the problem. let's bring you up to date with today's rugby league action. two matches in super league this afternoon. top of the table castleford thrashed widnes 34—nil, that's their fourth win in a row. and a last—minute conversion gave wakefield a 2a—22 point win victory over salford. the new zealand head coach steve hansen has told the bbc that eddie jones has instilled a work ethic into england's rugby union team that wasn't there before. a win over ireland next saturday in the six nations would seejones‘ side set a new world record of consecutive test wins — overtaking new zealand's achievement of 17. it would also see them win back—to—back gran