i am yousef gamal el-din in dubai. the new york state comptroller says the board of wynn resorts did nothing to stop the alleged ,exual misconduct of steve wynn setting a tone that permitted him to wield his power unchecked. the state claims the board was aware of the allegations since 2016. struggling noble group under attack from one of its leading shareholders. goldilocks investment said expected losses are "shocking" and will erode whatever cash the company has left. goldilocks says shareholders are unwilling to accept the restructuring deal. noble group reports earnings on wednesday. sell and leaseay back its european headquarters in london in a deal worth $1.5 billion. sources also say no final decision has been made. strong demand from overseas investors has led companies to sell and lease back there london headquarters in the past year. that was your bloomberg business flash. let's get back to the story from abu dhabi. it is the regulated re largest public relisted by assetspliant reit and market capitalization

let's get across to yousef gamal el-din. yousef: thanks. with hsbc, the reported adjusted fourth-quarter pretax profit of $3.6 billion, missing the lowest estimate among analysts surveyed. the rare failure to live up to analyst burning estimates comes at the end of the chief executive comes to an end. discussediggest banks narrowing lending margins. according to the finance director, soft or itc numbers were a factor in the earnings. >> the fourth quarter from our perspective in the industry's was a little weaker with respect to revenues, particularly in the and we also took a couple provisions for significant corporate exposures in the fourth quarter. the world's largest money manager turned bullish on u.s. stocks, like rock seeing $6 trillion in assets, saying in pending fiscal assets will boost strong momentum for earnings. the company's global chief investment strategist says american profit growth strength is unmatched and that blackrock has raised u.s. stocks from neutral to overrate. anna: anna: thank you. yousef gamal el-din with th

i'm yousef gamal el-din. amazon is cutting back on many jobs, scaling bageled departments, focusing on selling online. they focus on hiring, cloud computing and the alexa platform. they have confirmed they will skip the detroit auto show next year, mercedes-benz, joining other automotive makers. for city says the rising complexity of the auto industry and the range of new products has prompted this decision. better sales and the snapchat parent is leaving. in 201 7. joined last week, snap reported sales that topped estimates, causing shares to surge. the company says they will not be looking for a direct replacement for lucas. regale is the first company in the middle east to win a license cryptocurrency. ethereum will be in the vault. this is the most secure way of investing in cryptocurrency commodities. that was your bloomberg business flash. that get back to the story and asia. jpmorgan, they say their strategists spent all last week in asia. "littleed there was sign of distress amid the market rally." in

yousef: welcome to the best of "bloomberg markets: middle east", i am yousef gamal el-din. markets went haywire and volatility came roaring back as investors braced for rising interest rates. the worst slump in two months, where does it lead. still number one, claiming its crown as the world's busiest airport. we speak to the ceo. it was an extremely turbulent for for the global markets, all sorts of records broken. investors were word about the risk of rising interest rates. tracy alloway had an interview this in a wood of the. >> the market is a market. they have done a great job in stimulating the economy. this in a wood of the. >>president obama had started te aircraft carrier to move slowly, and he did a good job at it. the market is always dangerous. it is always dangerous to take too much credit for it on the way up as you also have to take the blame for it when it goes down. anchor: what actually sparked the volatility? have you seen something like this before? guest: sure. the quantity of course is striking, but now we are dealing with etf's and computer-related pr

i am yousef gamal el-din. we are off to a cautious start. i've rebound in selective markets in the asian equity session. gmm is your function. quite a bit of strength on the kospi. india up .8%. the backdrop is a weaker u.s. dollar, and notably so. it is in the bottom of your second column on your bloomberg. investors on edge after an inquiry into the financial system. the sovereign bond and commodities space, two things to point out. comeback,al making a rubber up, downside on zinc. energy, the bearish data did come out on friday with more rigs added to the u.s. production story. wti rebounding, up 1.1%. a little bit of that coming through from the weaker dollar. gold, that key inflation data coming out, currently a .6% on that trade. , so close to2.85% those four-year highs. look at the u.s. junk bond market, the worst week in two years. where will that come online? s&p futures currently higher .6%. toh that, let's cross over first word headlines from around the world with sophie kamaruddin. says ansraeli military antiaircraft missile

♪ yousef: welcome to the "best of bloomberg markets: middle east"" on yousef gamal el-din. here are the major stories driving headlines this week. going for broke, the latest steps in a drive to attract foreign investment. south africa's tax scandal. the new president hikes the first time since the end of the apartheid. butries to stabilize debt, could there be a voter backlash? we begin with interest rate cuts in nature. -- cuts in egypt. this is an easing cycle after record high borrowing, it attracted $20 billion of local currency debt. tracy alloway and i got more on the chief economist. >> i was expecting a bigger cut, i know that seems like a lot in the context of emerging markets. remember, rates were raised 700 basis points from the time of the devaluation up until last week. this is the first step of a very long journey to go. to be perfectly honest, i don't look too deeply into the monetary policy statements out of the central bank of egypt these days. when it comes to insight that it can provide on the future course of policy, i found them somewhat lacking. tracy

♪ yousef: welcome to "best of bloomberg markets: middle east." i'm yousef gamal el-din. here are the major stories driving headlines from the region this week. alwaleed bin talal is finally released from detention in riyadh. we are told he will remain at the helm of his country. rex tillerson calls for the end of the diplomatic isolation. at the ceo of qatar commercial bank says he is pushing to increase lending despite the standoff. and u.s. oil production surges above 10 million barrels per day for the first time in more than four decades. will america become the world's number one producer in 2018? first, the week began with news that saudi prince had been freed after more than two months in detention in riyadh. he was allowed home after reaching a settlement. he will remain at the helm of his company. they are raced the losses he had sustained. i got more from the story from riad hamade. riad: we heard earlier last week that they want to wind the whole thing down. they said that 90 people have been released, and they have got 95 further people in the ritz waiting, ei

i'm yousef gamal el-din. join me then. this is bloomberg. ♪ ♪ ♪ show me the olympic winter games ♪ ♪ like i've never seen before. ♪ ♪ xfinity x1, yeah, i always know the scor♪. ♪ triple corks in 4k... lookin' so sick. ♪ ♪ stream live on every screen, every win, every trick. ♪ ♪ 2000 hours of coverage, get your mind blown. ♪ 50 olympic channels, yup, you're in the zone. ♪ ♪ and if there's something that you want to see, ♪ pick up that voice remote and just say "show me..." ♪ experience nbcuniversal's coverage of the olympic winter games like never before with xfinity. proud partner of team usa. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered

. ♪ ♪ yousef: welcome to the "best of bloomberg markets middle east." i am yousef gamal el din. here are some of the major stories driving headlines from the region this week. crude comeback, oil recovers ground following its worst week in more than a year. the iea says the global surplus has almost been cleared. as u.a.e. report earnings we hear exclusively from industry cfos. and the sky is no limit for air arabia as it beats on full-year income. the ceo lays out the carrier's ambitions for 2018 in our exclusive interview. hundreds of global political and

. ♪ ♪ yousef: welcome to "best of bloomberg markets: middle east." i'm yousef gamal el-din. here are the major headlines driving stories from the region. the billionaire businessman is finally released from react. he will remain at the helm of his country. rex tillerson calls for the end of the diplomatic isolation. he is pushing to increase lending despite the standoff. and u.s. oil production surges above 10 m

. ♪ ♪ yousef: welcome to the best of "bloomberg markets: middle east," i am yousef gamal el-din. markets went haywire and volatility came roaring back as investors braced for rising interest rates. oil suffers its worst slump in two months, where does it lead? and, still number one, claiming its crown as the world's busiest airport. we speak to the ceo. it was an extremely turbulent week for the global markets, all sorts or

yousef: welcome to the best of "bloomberg markets: middle east", i am yousef gamal el-din. markets went haywire and volatility came roaring back as investors braced for rising interest rates. the worst slump in two months, where does it lead. still number one, claiming its crown as the world's busiest airport. we speak to the ceo. it was an

. ♪ yousef: welcome to the "best of bloomberg markets middle east." i am yousef gamal el din. here are some of the major stories driving headlines from the region this week. crude comeback. oil recovers ground following its worst week in more than a year. the iea says the global surplus has almost been cleared. as uae property giants report earnings, we hear exclusively from industry cfo's. and the sky is no limit for air arabia as it beats on full-year income. the ceo lays out the carrier's ambitions for 2018 in our exclusive interview. hundreds of global political and

♪ yousef: welcome to "best of bloomberg markets: middle east." i'm yousef gamal el-din. here are the major headlines driving stories from the region. the billionaire businessman is finally released from react. he will remain at the helm of his country. rex tillerson calls for the end of the diplomatic isolation. he is pushing to increase lending despite the standoff. and u.s. oil production surges above 10 million euros per day for the first time in more than four decades. will america become the world's number one producer in 2018. that thee week began saudi prince had been freed after more than two months in detention in rhiaad. he was allowed home after reaching a settlement. he will remain at the helm of his company. i goting his release, more from the story. reporter: we heard earlier last week that they want to wind the whole thing down. they said that 90 people have been released, and they have got 95 people waiting, either to be and taken to the prosecutor or released. over the weekend, we had the release of these very high-profile names. this was the one that ca

i am yousef gamal el-din in dubai. china has yet to come back online, but again, asian equities taking their cues from what was a slightly weaker -- let's run you through the key highlights in these markets. gmm is the key function on your bloomberg. linesleins being -- de being led by the japanese nikkei. profit-taking hitting electronics and automakers specifically and weakness coming through here. the philippines and south korea. we're looking at a backdrop here of a slightly stronger u.s. dollar playing out in the foreign exchange column, the .2 5% index short of higher. a bit of downward pressure on the norwegian krone. 1% at $62.29 per barrel. opecore comments from the secretary-general, he says there is continued growth he is seeing this year. there is optimism that opec/non-opec can keep the shares. morgan stanley says the u.s. tariffs will hit china aluminum over steel. .7%.ore up other key asset classes. ahead of the key issuances in the united states, gold. downside pressure, down .4%. through.eakness c

i'm yousef gamal el-din. vix that has been electrocuted back to the shattering years. let's get you straight to some of the market action on the global market map. it shows the selloff is accelerating in the asian equity session. asx, down 3.25%. i will take you straight to the action in hong kong. we see a very steep selloff in japan with the nikkei now poised to enter a correction. remember, this selloff has been accelerating. now 6% for tghe nikkei. in china, set for the biggest drop since 2011. as a result of these moves, we see a big pop in the foreign-exchange space. 2/5 ofe yen, stronger, 1%. money flows into some of the key safe haven paris. let's cross over to the stock and bond space. the big moves in the australian 10 year bond paper. iand a lot of investors are taking risk off the table. rubber, down 2.7%. zinc, down 1.7%. i want to show you what is happening with wti, headed for the longest losing streak in two months. the plunge and u.s. global equities is playing into that, but also the concern of crude stockpiles. we're looking to the key data points. g

i'm yousef gamal el-din in dubai. a lot of the reaction we are seeing in the asian session is still a little bit in response to what we saw on friday. jump into the bloomberg with me and let's take a look at the global market map. some of the japanese stocks coming under german this pressure. the nikkei down 2.5%. electronics makers the biggest drag. the asia-pacific index is on course for its biggest drop in almost 14 months. that is some context for you there. the foreign exchange space downg you got the chinese --%, also the brazilian r the brazilian riyal. also some readjustments on the trade wti down over 1%. i want to show you what is happening with the bloomberg dollar index that is key to this conversation. a little bit of a downside as we speak. dollar-yen wanes. we see some of the capital flowing into that down 2/5 of 1%. two blips.r up by u.s. equity futures, where are we at? down almost 2/5 of 1%. let's check in on some of the biggest headlines around the world with debra mao. debra: two people have been k

♪ yousef: welcome to the "best of bloomberg markets middle east." i am yousef gamal el din. here are some of the major stories driving headlines from the region this week. crude comeback, oil recovers ground following its worst week in more than a year. the iea says the global surplus has almost been cleared. as u.a.e. report earnings we hear exclusively from industry cfos. and the sky is no limit for air arabia as it beats on full-year income. the ceo lays out the carrier's ambitions for 2018 in our exclusive interview. hundreds of global political and business leaders gathered into dubai this week for the world government summit. the event brought together officials, policymakers, thought leaders and private sector trail blazers to explore the future of government in the face of a changing world. on sunday, tracy alloway spoke with the secretary-general of the oecd, angel gurria, and began by asking for his take on the recent market volatility. angel: the experts say it was a correction, but i think it is a warning. i think it is very important to heed and say, listen -- t

yousef gamal el-din joins us with the first word news. let's talk about what is happening with president donald trump. he has criticized the fbi, democrats, robert mueller's investigation, and his own national security adviser over russia's efforts to sway the election in 2016. in a 24 hours, he focused on defending the validity of his victory and insisting neither he nor his campaign colluded with the russian miss campaign effort. meanwhile, the l.a. times are reporting that rick gates indicted in october with paul manafort has agreed to plead guilty and cooperate with robert mueller. u.k. prime minister theresa may and her ministers are together for a brexit away day. may seeks to unite the pro-and segments, some areas are breaking free. employment numbers are scheduled for wednesday and fourth-quarter gdp are due on thursday. we will watch for what they mean for u.k. interest rates this year. japanese exports and imports will registered strong gains in january. overseas shipments rose from a year earlier well ahead of forecasts. result

we are joined by yousef gamal el-din. it is important to point out that he is going to be dining with shale producers. this is the last frontier when it comes to the broader effort to bring everybody under one umbrella. he created this new framework. he brought in saudi arabia, brought in russia when russia was not on board the beginning. whatsoever benefit in a world that is drowning in oil. the expectation here is for a b uild, which will be the fourth week in five >>. manus: you have spoken to the president of of recently -- opec recently. do you think it is a distant dream? >> he has proven time and time again that he is able to bring people on the table and have a conversation, and get deals done. he brought in russia when nobody thought russia was going to be on board. more permanent fixture in this broader agreement. manus: let's talk about the politics of the region. talk about geopolitics. we understand that the prince spoke with trump last night. give me the geopolitical landscape? >> he has been speaking to the