the middle east is the middle east, and, yes you had a part ebony's background but somehow i would just assume it was a much harder sets of people to navigate on both sides, the israeli side in the palestinian side. >> guest: very much so. important to keep in mind with the israeli-palestinian issue is that it does not exist in isolation. that is part of a larger region that is itself an upheaval and tumult which affects the israeli-palestinian relationship and is affected by the relationships, so i think many people tend to try to focus israeli-palestinian issue as though it existed all by itself. you can't do that. that. it is much more complicated. islam is now driven internally by many conflicts, the most prominent of which is the division between sunni and shiite, but there are many other internal conflicts. the entire middle east is torn by a range of intersecting sometimes contradictory conflicts, turkey and and the kurds, the arabs in the persians, as i said the sunni initiates. >> host: of politics, russian the russians now jockeying for position. >> guest: hugely affected and

administration and the middle east. there by furnishing all the necessary conditions for a revival of our much needed strategic partnership. i thank you very much [ applause ] >> thank you very much for honoring us with a very serious speech, keynote speech for which we're very grateful. the minister has kindly agreed to a conversation in which i will have a chance to follow up with some of his points that he made. i was quite struck by what you appeared to be saying about a common agenda with the united states and the implication was with the trump administration, you spoke about restoring stability, interesting president-elect trump yesterday spoke about his focus being on promoting stability in terms of his foreign policy. do you feel that the kinds of principles you laid out about eradicating sectarianism and promoting peace are in fact the common purposes between the trump administration in formation and the government of egypt? >> well, there is a great deal of convergence, so by the statements that have been made

ter middle east, what do you mean? >> well, i'm talking about a very large swath of the islamic world. i could have called it america's war in the middle east but it seems to me to use that narrower term really understates the expanse over which we have been involved, certainly includes places like afghanistan which doesn't fall in what we think of as the middle east. frankly now includes very large parts of central and western africa which again doesn't fall within the typical definition middle east. why was the year 1990 so significant? >> it's 1980, 1980. basically said the persian gulf is national security interest and more to the point in place that the united states is worth fighting for. we have been involved milt -- militarily and prior to 1980's the greater middle east wasn't on our map. we hadn't made all the arrangements for basements or overflight rides. is now prepared for what then becomes interventions in the regions. >> prior to that, very few lives lost, military lives lost. >> i do. sadly i think to s

>> welcome to the best of berg markets middle east. i'm tracy. the major headlines from the middle east driving headlines this week, turkey changed the d.p., and culates g. it shows its economy expanding faster than india's, despite terror attacks in major urban areas and more. price waterhouse coopers say the middle east, home to half of -- of the world's oil a target s becoming for cyber attacks. but the big story this week was the agreement from nonopec producers to cut production. saudi arabia surprised markets by saying it will cut more than agreed. >> it's a lot of barrels coming off the market and it's due to take effect from the very beginning of the year, from january 1. so that's a very significant change in the oil market dynamics and likely to start bringing the oil market into balance, probably sartd of middle of 2017. that's what most people are looking at. of course we also have the issue of the stockpiles that need to be drawn down before he -- we end this oversupply. that will start taking effect once the market reaches bafments

special envoy for middle east peace from 2009 to 2011. he's interviewed by former representative jane harman, now president and ceo of the woodrow wilson center. >> host: so, senator george mitchell, it's a delight to see you again. i've been reading you, seeing you on the airwaves and now comes this new book, which was interesting to read and arrives just at the time of the presidential transition and i think a lot of people want to hear about it. >> guest: it's very nice to see you again. thank you for doing this and having me here. i wrote the book with a colleague who worked with the state department while i was the u.s. middle east envoy and he's a recognized expert on the history of the israeli-palestinian negotiations and the land law and other areas. we wrote it before the election, so of course we didn't know what was going to happen, nor did anyone else. but, we wanted to make a contribution to the discussion primarily to defend the two state solution. there has been criticism justified. after all, it's been more than a half-cen

it is a very, very frightening year, when it comes to the middle east. the problem is it will flow to the sides of the middle east. it is difficult to tell. but at least in syria there is some progress, here. it could be we see less bloodshed in syria in 2017. but, as i said, islamic state is a monster, a huge monster. they managed for the last two or three years to recruit a lot of people. we can see what happened in germany, they declared responsibility for the attack on the christmas market, and also they declared responsibility for other atrocities. it seems, unfortunately, we will see a lot of terrorist acts somewhere in europe, but also in the middle east. it is sad to say that, but this is what we can see, 0k, what i can see in my crystal ball. 0k. well, in that case, i think we will leave 2016 behind and hope for a better 2017. that's it for dateline london's look ahead to 2017. you can contact the programme on twitter @gavinesler, and you can argue with our guests, if that's the way you want to go. we are back next week at the same time, please

develops alliance relationships in the middle east. we've have a lot of native allies in the middle east, most of them are distinguished by being very nature. really, you do have egypt, a big country but our major allies are not really major. major relationships are countries with whom we don't have formal alliance relationships military equipment, that 16 block 60s and guided missiles. we have spent tens of billions of dollars. we have committed troops. we have done all kind of things, but it's not under the r ruberratic of the formal kind of relationships. . as commercial venture, this works. i mean, we sell tens of millions of dollars worth of equipment, our sales have kept help keep production lines for u.s. jets open, because we're not buying so many jets ourselves but our gulf allies are. that keeps the other production lines open. but it also perpetuates a certain dependency that they rely on the united states to provide security. arguably, perpetuates conflict and people say, well all these states are armed to the tee, more u.s

best of bloomberg markets: middle east." wilkinsgy reporter sam reported -- take a listen. the bloomberg survey -- it has driven the price down. it has come down just modestly. what we have seen is a consistent drawdown of stockpiles is the opec deal was reached -- november 30 with opec, and a week later with non-opec producers. that part -- that supply has not come off the market yet. again, it's about sentiment in the market and also the effects on the price for that deal, which means it makes sense for the u.s. to draw down on is stockpiles rather than by oil from elsewhere. what about supply next year from countries not taking part in the opec cut? news,e have interesting angie. one of the u.s. and then in the u.s. again. present obama is considering a law to protect certain areas of the arctic and the atlantic which hold oil, and this looks like an attempt to protect those areas in a durable way that will continue to have effect after he leaves office and president-elect trump takes office. so, what we see here is a mov

>> it is a big week in the middle east. a saudi arabia may reveal how it will balance one of the region's biggest estimates. >> oil retaining its gains, despite rises in inventories, rising just below $55. >> ronco says it is still deciding. we are told they remain. unreliable and not credible third banker convicted in singapore over the malaysian fund. a.m. in the:00 emirates. salamat in hong kong. -- you have an interesting chart showing a correlation. always an interesting chart, the dow short of 20,000. liquidity getting thinner. this is where that chart comes in. i want to show you the effects this has had on inflation expectations. this is the 10 year break even. you can turn that -- look at the bloomberg to get additional content. you can see what happens in the blue box as the oil prices and blue go down. it takes down inflation expectations. inflation on an annual basis. it has recovered a little bit, but still around the 1.93 mark. what are you looking at as they gear up for the holidays? rishaad: we came tantaliz

milliomyonsn from the middle east. we'll be right back. nmyons of p in from the middle east. we'll be right back. smyons of p in from the middle east. we'll be right back. yons of peo in from the middle east. we'll be right back. ons of peopn from the middle east. we'll be right back. millionsns of people pouring in from the middle east. we'll be right back. s of people pouring in from the middle east. we'll be right back. of people pouring in from the middle east. we'll be right back. >>> president-elect trump spoke in cincinnati tonight, hitting many of the same themes and same targets from his campaign rallies. listen to a claim he made tonight about people pouring into the country. >> the job of the president is to keep america safe, and that will always be my highest priority. we will do everything in our power to keep the scourge of terrorism out of our country. we're going to keep it out of our country. just so you understand, people are pouring in from regions of the middle east. we have no idea who they are, where they come from, what they're thinking, and we're goin

and they are trying to undermine the stability in all the middle east. and i think it is very important to understand what happens with iran after the deal. and my conclusion, very, very clear. but it is my conclusion. and i think that negotiations, talks with the united states about our common position regarding tehran, it is only during the first meeting between prime minister and president-elect. at least my position will be very clear. i think it is crucial to move forward with more sanctions. because it was a clear violation of agreement. especially in the area of missiles, like not nuclear but ballistic missiles. and next it will be nuclear missiles. at least until now, it is only ballistic missiles and it is human rights in syria. responsible for the half million people and the atrocities we see every day. i think it is necessary to continue with sanctions and to be very, very tough on all issues. >> just to chalarify, if i'm understanding you wrong, tell me, please. you believe and you're not the only one that iran has violated the deal. so you t

a war of words over middle east peace and a ceasefire in syria. we ring in 2017 with a look of the global issues facing the president and his successor tonight on "washington week." as the clock ticks down towards a new year, the white house tackles some unfinished business sparking tensions between the outgoing president and the president-elect. president obama made good on a promise to punish russia for hacking the u.s. elections and the president-elect dismisses as an action saying there is no conclusive evidence that russia was behind the espionage. >> we need to get on with our lives. amy: most republican and democratic lawmakers disagree vowing to take action against president putin. >> there are 100 united states senators and 99 of us believe the russians did something and we are going to do something about it. mccain and secretary of state kerry. >> the israelis do not need to be lectured by foreign leaders. amy: donald trump, we cannot allow israel could be treated with total disdain and disrespect. there may be a confrontation between th

as we think about the middle east, we have three different alliances in the middle east. on the one hand, we have this generous relationship with israel. which is in many ways the closesest relationships, but also the complicated relationship. we work with intelligence, but regional hostility means we don't work regionally, we don't base in israel, use forward position equipment, though israel can use extremists in its own situations. israel hasn't taken part in these broad regional alliances the u.s. has fought. israel is a member of u come, so it the way the u.s. looks -- the u.s. supplies about 20 -- the u.s. is bound by law to ensure that israel maintains a qualitative military edge over any potential enemy or collection of enemies in the region. so you could argue that this is a good relationship, you could argue that israel is milking the united states. i've heard both arguments made in washington. it seems to me this is a very complicated relationship which isn't replicated any where else in the world. and it is important part of how the u.s. thinks about alliances

-- how about the emerging middle east? >> the emerging middle east faces some challenges. if you look at countries with flexible exchange rates, it allows them to make the adjustment in the economy. it is going to be challenging for quite a while. angie: coming up, the middle east's largest listed property company is continuing a push to target luxury consumers. that is next. this is bloomberg. ♪ angie: welcome back. formed aed tycoon has joint venture. they are looking to profit from increased luxury spending in the middle east. spending in the middle east is worth about 10 million euros and it is one of the fastest growing luxury spending markets in the world. a lot of that gets lost to the offshore companies and the international brands. by creating this joint venture, he is trying to capture a bit more of that profit locally. as we are seeing more shopping he is middle east, recognizing the shift and trying to get in as early as possible to profit as more of the customer moves out of the malls and into the online space. >> if black friday is an example, we are seeing

bush administration on middle east politics and security. instability in arab countries and their ideas for more stability in the region. >>> good afternoon welcome on behalf of the atlantic council. i'm suzanne maloney. i'd like to extend a special welcome to my counterparts. i'd like to extend a spernl wci welcome from the diplomatic community. we're here today to launch a report commissioned by the atlantic council's meddle east strategy task force who over the past year has convened the task force's working group on politics, govern nans. a bipartisan initiative launched in february 2013, brookings foreign policy has been proud to contribute to the project. not only via tomorrow's report but also through the security and public working group who report was offered last year by kenneth pollack. the report you have here today reflects our own analysis. it helps to explain the collapse n the middle east state system, takes stock of where we are and offers recommendations for the middle east and post-arab spring environment. tomorrow situate

. ♪ ♪ >> welcome to "best of bloomberg markets: middle east." the major stories driving headlines from the region. the world bank approved a new loan to egypt worth a billion dollars, the second portion of an annual investment for thousands of jobs. that interview coming up. months of cheap oil is forcing consolidation. qatari banks are talks for a merger. president putin called for a crackdown on terrorism after the return them ambassador -- after the pressure ambassador to turkey was murdered in ankara monday. our northeast managing editor took us through what happened. >> as you remember last year, the turkish brought down a russian warplanes which crossed briefly into turkey. that really damaged the relationship. the turkey economy suffered. more recently, they have worked hard to bring the relationship that together do a place where they are talking about syria, partly because the situation has changed. they are both saying they don't want that to change, they need to continue working together, especially in view of the situation in syria.

or to democracy in the middle east. we would not have let this pass unless it addressed counterproductive actions by the palestinians. we have to recognize that israel faces very serious threat in a very tough neighborhood. israelis are rightfully concerned about making sure there is not a new terrorist haven next-door. president obama and this administration have shown an unprecedented commitment to israel's security because that is what we believe in. our commitment to that security has never wavered and it never will. even with the financial crisis and budget deficits, we repeatedly increased funding to support israel's military, and in september, the obama administration signed a memorandum of understanding to provide a $38 billion in security assistance to israel over the next 10 years, the largest single pledge of assistance in u.s. history to any country. as the israeli prime minister has noted, our military and intelligence cooperation is unprecedented. we believe that continued settlement building seriously und

we asked our middle east aviation reporter deena kamel. deena kamel: it has been difficult times for the gulf airlines, they no longer see the same pace of growth they had before. and etihad said they are going through a process of restructuring, looking at ways to cut costs and boost revenues. part of that is they are going to reduce their headcount across the business, they cite competition and a weaker global economy. yousef: run us through the numbers and give us a sense of the extent of the cuts. deena kamel: sources have told us the range of the total layoffs could be between 1000-3000 jobs, that is quite a bit. a figure that the airline would not confirm. if you put that into the context 20,000y were employing core staff, 26,000 including subsidiaries and those abroad, so these cuts are across different units of the business, i.t., commercial sales, that is what we are hearing. yousef: what is driving the cuts? if you look at neighboring emirates, they are under pressure as well. is this part of a wider trend in middle eastern airli

♪ >> welcome to the best of bloomberg markets middle east. the major story driving headlines this week. the world bank approved a new loan to egypt worth $1 billion. it is the second portion and will help to create new jobs. we spoke to an investment amateur about the implications for markets. forcing banks to consolidate. we will go over plans later on. asident putin called for crackdown on terrorism after the russian ambassador to turkey were shot dead. murderedrlov was monday. our editor took us through what happened. >> if you remember, last year, the turkish shutdown a war plane that had crossed into turkey. that has damaged their relationship. suffered.lly the turkish economy really suffered. and more recently, they have worked hard to bring the relationship back to a place where they are talking about syria. are now, both are saying they don't want that to change the improved relationship. to workd to continue together, especially in view of the situation in syria. situation in syria just beginning to recover, so a real headwind there.

yousef: next on "the best of bloomberg markets: middle east," how investors in the middle east are reaction to the big changes in the u.s.. >> we see a normalized volatility environment. financial repression, which has dominated since the global financial crisis does seem to be coming to an end. that is clearly coming to an end is the 35 year bull market in bonds. ♪ and you go when it is 12:30 here in hong kong. -- angie: it is 12:30 here in hong kong. due to be debated over the next couple of hours. mario draghi cut the ecb bond buying program. aile strenuously denying taper is in place, because he also added three more months of expectedan economists and he said buying will be stable beyond the end date. mr. draghi: the options were studied by the committees. one was the option of continuing with 80 billion euros a month for six months. the other was the one that received a very, very broad consensus. a russian official says there is now more of a chance of russia defaulting on its opec reduction commitment. assuranceseek about how the cartel will comply with their plan to cut productio

it goes to the early days of the oil in the middle east. when the concession expired, exxon decided not to bid for the renewal. concluded very quickly. they're still a stake out there for show if show continues to be interested. tracy: that was my next question -- there is still a stick out ell, if shell is still interested tracy:. that was my next question. abu dhabi could be getting advice from the suit -- these two super majors and getting a more balanced picture. japan and south korea have come in with smaller states, but they do not have the same weight as a totale.s hotel -- ap or . i was that it was important to have two in there. tracy: my conversation with paul dudley, he said now was a good time to ramp up investment in the company is still going to be quite consider in terms of deals and any ramp up in spending. but oil potentially has turned a corner. we have seen a historic deal with opec and non-opec producers. should we take this particular deal as a sign that we might finally get that upturn in investment? >> we've seen the

peace. >> international developments of the middle east here. prime minister netanyahu spoken to either president barack obama or president-elect donald trump? >> well, the israeli government, of course, is in touch with both the current administration and the incoming administration. but think of the absurdity of this speech given just the recent history of our relations with the palestinians. the prime minister has called literally hundreds of times to meet with president for peace talks without any precondition. he invited him. he offered to go to the parliament and all of those calls were turned down with a resounding no. and on the palestinian side, the palestinian president has said openly and publicly he will never recognize the jewish state. they're naming soccer teams after mass murderers. senior advisers are calling to slit the throats of israelis wherever you find them, and the palestinian government is actually paying anyone who murders an israeli a monthly salary. fp you want to find the real barrier to peace, look no further than t

the best ofo bloomberg markets middle east. the major stories driving headlines from the regions this week -- turkey changed the way it calculates its gdp with a new methodology prompting some rather eye-popping revisions. on average over the past five years, turkey's official growth rate shows its economy expanding faster than india cost despite terrorist attacks in major urban theers, record weakness in lowest levels of economic confidence since records began. price waterhouse cooper says the middle east is home to almost half of all glory -- global oil reserves and is becoming a magnet for almost half of the world's costliest global cyber attacks. affecting energy markets this week was the agreement from non-opec producers to cut production. saudi arabia also surprised the market by saying it will cut more than previously agreed. our energy reporter looked at the likelihood of the market reaching equilibrium next year. a lot of barrels coming off the market and due to take of theat the beginning year, january 1, so that is a

he said he wants to share some candid thoughts on the middle east. this is bloomberg. ♪ vonnie: shares of toshiba plunged the most on record in trading in japan after the company said it may have to write down billions of dollars related to a nuclear power project. economies is a senior analyst for bloomberg. toshiba is talking about taking billions of dollars in write-downs. how did they come to the figure? >> it looks like they are related to the acquisition of a company called chicago british and iron about a year ago. they were the big contractor for the two major utilities in the u.s. that are building a nuclear plants, and it looks like it might have taken a full year for toshiba to work through all of the numbers. when i got to the end of it, they apparently realized i have a lot more cost in their construction project than they may be able to recover from the main owners of the plant. vonnie: which are a southern company. will they have problems as a result? kit: it looks to me, initially, that due to a contract rewrite a year ago which was

the middle east is in turmoil. i have outlined our vision on how to address these challenges and i trust you will agree with me that this vision converges with the stated goals of the new u.s. administration and the middle east thereby furnishing conditions for revival of much-needed strategic partnership. i thank you very much. [applause] >> thank you very much minister shkry for offering us with a keynote speech for which we are very grateful. >> i was quite struck by what you appear to be saying about a common agenda with the united states and the implication with the trump administration. you talked about restoring stability, interestingly president-elect trump yesterday spoke about his focus being on promoting stability in terms of his foreign policy. do you feel that the kinds of principles that you lay out about eradicateing and restoring stability and promoting peace are, in fact, the common purposes between the trump administration in formation and the government of egypt? >> well, there's great deal of co

east but it's also from the middle east that's affecting us all. >> woodruff: do you have reason to believe, steven hadley, that president-elect donald trump is going to be interested in an approach like this? given what he said on the campaign trail, that's nott all clear, is it? >> one of the things he said is we need to do more to defeat i.s.i.s. and al quaida, daish and al quaida. he was critical of the last administration, saying they had not done enough. we are expanding in recommending what to do in daish and al quaida. we believe if we step up in iraq and syria on daish and al quaida that will put limitations on what the iranians and russians can do and you may be able to move over time to the kind of political solutions we're looking for in iraq and syria. >> woodruff: do you ever reason to believe donald trump will be interested in an approach like this? >> well, we have to see, frankly. i can my own view is he is the president-elect, and i think that, as he sees what the issues are, i am hopeful that he will understand the value of this approach, which is that we can't --

angie: welcome to bloomberg markets middle east. it has been a very tumultuous yousef, as wes, watch asian shares respond to these geopolitical concerns, and no doubt it triggered a drop in the lira in turkey. yousef: very much so. --s characterized by this what we saw in a lot of overnight trade, if you take a look at how much capital flow went into gold, into u.s. treasuries, which drove down the yield by some six basis points. the swiss franc is another key gainer. what you are looking at -- a gorgeous perspective and context attributed here, and i have highlighted what happened to the currency. that circle represents a .9% of the drop. the initial reaction when the news came out of o ankara. we are keeping a close eye on the unfolding events. president putin has denounced the murder of russia's ambassador to turkey. he said it's an attempt to drive the countries apart. lov was shot at an exhibition and died later of his injuries. committed crime is undoubtedly a provocation aimed at derailing the ties between russia and turkey,

it failed all over the middle east. we have shown and demonstrated we know how to strike deals and peace with the biggest threat we ever had which is egypt. we've done that. there's nobody on the other side on the palestinian side that is recognizing the jewish state, nobody that is willing to denounce terror, nobody with leadership that can stand and negotiate and want to negotiate and we're to blame for that? i think the usa and i believe the new president-elect trump, which probably has a very different strategy and policy in the middle east, i hope and believe, the strategies will be aligned. >> so donald trump tweeting today, israel, rest assured, january 20th is coming very soon. how are you thinking about january 20th and how are you thinking about your relationship with the incoming administration? will things in your view be very, very different? >> well, i believe so because ideology i cannily we're more aligned. when i've heard president-elect trump's ideas and strategies of working together, alliance and the

our middle east correspondent yolande knell reports from jerusalem. another bitter row between outgoing and incoming us president, —— another bitter row between outgoing and incoming us presidents, this time over israel. donald trump's complaining the country is being treated with total disdain and disrespect, but telling it to stay strong until the 20th of january when he takes office. it was the idea of tonight's speech byjohn kerry that angered the president—elect. he said the chances of peace with the palestinians were slipping away. the truth is that trends on the ground, violence, terrorism, incitement, settlement expansion and the seemingly endless occupation, they are combining to destroy hopes for peace on both sides. this follows last week's un security council resolution, calling for a total halt in israeli settlements on occupied land. the us didn't use its veto power to protect israel, as it customarily does. the obama administration has just three weeks left, but it is still trying to make a difference here in the middle east, know

is one of the only stable places in the entire middle east. we are now celebrating christmas maybe secretary of state john kerry didn't see that israel is the only place in the middle east where christians can celebrate christmas in security and peace and happiness. unfortunately, that doesn't interest the president of the united states. he makes a biased comparison between building houses in the east of jerusalem and terror that kills innocents and after that he talks only about israel and only merely condemns terror. the settlements, that's israel, but palestinian incitement, it happens, they don't say who incites. if the u.s. administration would have taken the same energies that they put in condemning israel in stopping the palestinian terror, maybe they would have helped the peace process more. i talked today with the ferret of a person killed in the settlement. this is what he said. in these days of the chanukah holiday the light must overcome the darkness. and israel's light must light to the distance and overcome all challenges. i must

especially in the middle east. he did pull the troops out of the middle east, out of iraq, but the problem it -- the problem is he pulled out the troops and had no political plan to ensure the peace. a few year the later had to send the troops back and we're still there now. >> as the president-elect says to the creation or enhancement of isis, did that lead to -- >> it didn't lead to the creation of isis but the problem, left a vacuum in which a terrorist group, turned out to be ace isis, was able to grow. point, next time we pull out of iraq or afghanistan we need a political plan to ensure the

the weaknesses in europe also stem from the unsolved problem in the middle east. putin is causing ever more refugees to be shipped and migrate to other parts of europe which would increase instability in the west. actually, it leads onto the last question as to whether or not there is a cold war in europe? i do not see another. the west is far too weak to present a solid front that it used to have. it is struggling to come to terms with its own crisis. 2017 will not see the end of that. the case for a cold war. we discussed this before. for there being some kind of new cold war in this continent of ours, is ukraine, which you have pointed out is a matter of great sensitivity to russia. as you know, the baltic nations, sweden for example is reinforcing islands in the baltic that they withdrew troops from 25 years ago. it is doing extraordinary things. real sensitivities in the baltic states as well so how do you see the relations between putin and the west, particularly nato? relations between putin and the west will be terrible because nato is not only closing to

our middle east equities reporter. let's bring in hans. investments for middle east and asia. great to have you back. onnow you have been bullish middle east stocks. what is this latest move do? does that change anything? the way you put money to work? : it will take time for investors to familiarize themselves with short selling. unless you are an institutional investor, it is a step in the right direction. liquidity.s increases prices. angie: doesn't help beyond abu dhabi -- does it help beyond i dhabi?eabu dhabi is the first market to adopt this. overall, the region will gain in importance with international investors. beenaudi market has partially opened. we are also talking about the bond market developing here. great names in bonds as well. rates.reat -- markets ininancial the middle east will certainly develop over the next few years. yousef: we still have plenty to get through. a very festive season for amazon with record orders and shipments approaching one billion items. you might have been one of them. ♪ yousef: welcome back. you are watching bloomberg. angie: let

from florida to russia to the middle east, plenty to dissect. we will break it down with the managing editor zach wolf. >>> more on the life and legacy of debbie reynolds. the actress passing away a day after her daughter carrie fisher left us. more from los angeles ahead. (vo) it's that time of year again. when you realize you still didn't get quite what you wanted. that's why verizon has the best deals of the year on the best network. like a free smartphone when you add a line or switch. no trade-in required. choose from the samsung galaxy j3, the lg k8 or stylo, or the the motoz play. all free. and as if you needed another reason, switch to verizon now and get up to $650 to cover your costs. there's still time to get exactly what you want at verizon. anything with a screen is a tv. stream 130 live channels. plus 40,000 on demand tv shows and movies, all on the go. you can even download from your x1 dvr and watch it offline. only xfinity gives you more to stream to any screen. download the xfinity tv app today. >>> in an eight-hour span yester

our middle east correspondent yolande knell reports from jerusalem. another bitter row between outgoing and incoming us presidents, this time over israel. donald trump complaining the country is being treated with total disdain and disrespect, but telling it to stay strong till 20th january, when he takes office. it was the idea of the speech by us secretary of state john kerry that angered the president elect. he said chances of peace with the palestinians were slipping away. the truth is that trends on the ground — violence, terrorism, incitement, settlement expansion and the seemingly endless occupation — they are combining to destroy hopes for piece on both sides. peace on both sides. this follows last week's un security council resolution calling for a total halt to settlement building on occupied land. for a total halt to israeli settlement building on occupied land. the us did not use its veto power to protect israel, as it normally does. the obama administration has just three weeks left, but it's still trying to make a difference here in

>> hello and welcome to this special edition of bloomberg markets middle east. is the most influential summit in the region, where we brought financial leaders together for some cutting-edge conversation. we spoke to a number of big names. let's begin with the ceo. ofbegan with the floating the egyptian pound, and i asked him how that might affect our business. >> i think you already think the stock market has rallied quite a bit over the past month, so what took place on november 3. buying inen a lot of the stock market over the period , and this is great news for egypt because you could already see the reaction of the government quite quickly to the policies they have taken. the market has reacted quite positively and it has been great for the country. >> where does the road over here from egypt? unlock someosed to of the liquidity that has been missing in the system. a kind of growth are you expecting? that thist thing is is just one of many steps, so you could even see it when they took the decision. i am sure that you know how difficult this is from associa

or to democracy in the middle east. we would not have let this pass lunless it addressed counterproductive actions by the palestinians. israelis are rightfully concerned about making sure there is not a new terrorist haven next-door. president obama and this administration have shown an unprecedented event to israel's security because that is what we believe in. our commitment to that security has never wavered and it never will. financial crisis and budget deficits, we repeatedly increased funding to support israel's military, and in september, the obama administration signed a memorandum of understanding to provide assistance to israel over the next 10 years, the largest single pledge of in u.s. history to any country. our military and intelligence cooperation is unprecedented. we believe that continued settlement building seriously undermines israel's security. some may cast the u.s. road as a sign we have finally given up on a two state solution. nothing could be further from the truth. none of us can give up on a t

if he had a great plan for midd middle east peace he would have tried it years ago. this is a guy who presided over disaster over disaster in the middle east. rise of isis. massacre of half a million people in syria. we really don't need his advice. more importantly there's a tradition in american politics after an election the outgoing administration shows deference to the incoming administration when it comes to major foreign policy decisions. back in 1992, george hw bush called bill clinton and asked his permission, consulting with him before he sent troops into somalia and bill clinton came out a statement showing solidarity with him because the tradition is you don't saddle an incoming presidency with new policies they might disagree with. for the obama administration to come out and start messing with united nations is unprecedent. they're supposed to defer to them. they're out in three weeks. done. get out of the way. be quiet. >> the timing with three weeks to go before president elect donald trump walks into office walks into office, what does our relationsh

israel relations and ongoing events in the middle east. and al gore talks about environmental policy including efforts to combat climate change. the holiday theme at the white house is the gift of the holidays. the decorations include tens of , ausands of christmas lights 300 pound gingerbread replica of the white house, and 56 miniature gingerbread houses thatfrom 200,000 legos represent each u.s. state and territory. [indiscernible conversation] ♪ [indiscernible conversation] >> michelle obama welcomes military families to the white house earlier this week. in remarks, she thanked them for their sacrifices and service to the country. she joined some children for holiday crafts. [applause] >> hi everybody. look how good you look. are you ready for some action? are you sure? you sound like you don't want cookies or anything like that. you think you want some cookies? ok? we will get to it. i want to welcome everyone to the white house. thank you for the wonderful introduction and for all of her service in hard work helping to make this h

develops alliance relationships in the middle east. we've have a lot of native allies in the middle east, most of them are distinguished by being very nature. really, you do have egypt, a big country but our major allies are not really major. major relationships are countries with whom we don't have formal alliance relationships military equipment, that 16 block 60s and guided missiles. we have spent tens of billions of dollars. we have committed troops. we have done all kind of things, but it's not under the r ruberratic of the formal kind of relationships. . as commercial venture, this works. i mean, we sell tens of millions of dollars worth of equipment, our sales have kept help keep production lines for u.s. jets open, because we're not buying so many jets ourselves but our gulf allies are. that keeps the other production lines open. but it also perpetuates a certain dependency that they rely on the united states to provide security. arguably, perpetuates conflict and people say, well all these states are armed to the tee, more u.s

i think it is important to fracture iran's support for any of its proxies in the middle east. i think iran is our main problem in that part of the world. and i think that it's going to be for some time because it's a theocratic totalitarianism set of revolutionaries and i'd say imperialists. they want to build an empire. >> they've been the ones fighting isis allied with assad and against isis. the president-elect seems to like that just fine. >> these are tactical decisions. we had a tactical decision in '41 whether to sign on with stalin against hitler and we did. it was good we did. sometimes you have to ally temporarily with a bad guy in order to defeat another bad guy. it's happened throughout american and world history. that's a tactic. the key thing over the long run, the strategy i think has to be to weaken iran. it's got a lot worse in store for us than i think it has shown so far and i think it's the world's leading terrorist state. >> robin, what do you make of the kind of the anti-iran you know, if you look at james mattis, he's pretty anti-iran. if you look at mik

radical islamic people are coming from the middle east. if you want to confront this phenomenon, you must start in the middle east. mr. tapper: i know you are a minister now on you have to be more diplomatic, but you do recognize that the president-elect has talk about withdrawing more from the middle east than even whatever status you think the united states has their right now -- there right now. minister lieberman: i don't know if he spoke about withdrawing from the gulf, but with regards to syria, he will be active with regarding the solutions and to speak frankly, it is impossible to achieve any solution without active american participation in the process. we need strong america, we need america active in at least in our region. will agreethat we about a common vision regarding the future of the middle east. mr. tapper: let's talk about the israeli-palestinian peace process. minister lieberman: no peace and no process. [laughter] mr. tapper: the future israeli-palestinian peace process. [laughter] mr. tapper: president-elect trump ha

policy in the middle east and the trump administration. we got the four minute warning about 10 minutes ago. as these events tend to run, we should get started shortly. live coverage from the brookings institution center here in washington. [indiscernible chatter] [applause] mr. goldberg: mr. secretary, thank you very much for joining us again today. this is the fourth form you have addressed, one for each year of the tenure that you have had at the secretary of state. it is just one expression of the on your part,ment the relationship between the united states and israel. the privilege of directly working for you for 14 months. you might remember that. i certainly do. [laughter] sec. kerry: [inaudible] one thing i have learned from the up close experience with you is your commitment to israel. a few telling examples. for 30 years as u.s. senator from massachusetts, you had a perfect voting record on israel. you promoted the unprecedented 30 billion the -- $38 billion agreement for the next decade. you have brought unbelievable passion and

e: welcome to bloomberg markets middle east. the oil surprise that saudi -- it looksistered like maybe we are now near overbought territory. tracy: that's exactly right. i thought they would bring a little pessimism entire tuesday show this morning, a little bit of a reality check and some technical analysis. take a look at this chart. this shows the price of oil, the white line, but more interesting for our purposes is the white line on the bottom half of the screen. that is the relative value index, a technical indicator that looks like the speed and degree of movement of particular asset price. you can see it is now above 70. when that reaches about 70, traditionally it is viewed as an overbought indicator. it suggests to some that the rally in crude may have gone too far, too fast. fast: well, too far, too looks like it may be more sideline action right now across the asia-pacific trade seen. let's get you a quick check the state of play. mumbai trading for 20 minutes, right now it is flat. there is a very interesting move -

special envoy to the middle east under president obama. thank you for being with me, sir, and congratulations on the new book. a path to peace. a brief history of israeli palestinian negotiations and a way forward in the middle east. nice to have you on the program. >> thanks very much for having me. >> who better to talk to about a way forward today, the day that the secretary of state will plot out and tell us what this administration sees as the way forward. i wonder what you make of this in the context of the heightened tensions between the united states and israel, the timing on this, why give this these 23 days before the end of this administration. and also, what he will say? i mean will he essentially admit failure? >> well, i don't know what secretary kerry will say and, there's some past precedent for statements made toward the end of terms. president clinton made one just before he left office. president bush, george w. bush, pushed hard on his road map to peace in the last year of his presidency and made a statement in jerusale