In saudi arabia, the the msci index. Bloomberg markets medela spirit we have an asian equity session firming up. This is Bloomberg Markets middle east. We have an asian equity session firming up. The new year holiday and preparing for president s day in the United States. Singapore up 1 . The uighur yen is feeding into that trade. Purchasesee equities by individual investors. Exchange market, the aussie dollar up. 3 . I want to tell you what is happening in the sovereign bonds and commodities space. Summary pricing in the bond space. But in commodities, you wti and brent crude up. 3 . We did have the u. S. Rigs data from the United States, but its the confidence on the demand story that is driving with the weaker dollar. Chatter,is the tariff possible escalation from the United States. I want to show you what is happening in some of the other key indexes. Inflation and the minutes will be in focus. Old, gains dollaryoud still up. Are quitetures, calls a bit higher. Lets check in on the first word headlines around the world. Christine thanks, yousef. Japanese exports gained for a 14th straight month in january. Moreeas shipment throws by than expected, 12. 2 , while imports rose 7. 9 . That drove the first japanese trade deficit in eight months p. M. The strengthening yen remains a risk as they make imports cheaper. China says u. S. Proposed tariffs on aluminum is groundless. Secretary wilbur ross says the u. S. May slap tariffs on imports of aluminum and steel. Chinas Commerce Department says beijing will take necessary man measures to protect its own rights. Nationwide rallies to the demand lawmakers act on gun controls pimm students who up controls. Students calling president trumps needlessly divisive. The president criticized democrats and the fbi over the attack that left 14 students at three does that. People are saying that it is not time to talk about gun control. We can respect that. Heres the time. March 24 in every civil city. We will be marred in every single city. We will be marching as students march if our lives. This is not about the gop. This is not about the democrats. We feel neglected. At this point, you are with us or against us. Christine an iranian plane has crashed, with all six the five people were killed. It came down in a foggy mountainous region of southern iran. Kilometers of the capital of iran where the plane had taken off. The head of slot vias central bank has been detained by the anticorruption bureau. Followed a surge by authorities of his office and private property. Now calls for him to step aside to prevent harming the countrys financial sector. In the first marvel superhero movie was with an africanamerican in the title role and a largely black cast has set records. It took 192 million of the weekend. It is the fifth biggest open ever in the north american market. It was also the most successful movie worldwide over the weekend, raking in 361 million in total. Global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. Yousef lets talk about the u. S. Treasury. They are set to auction off notes in three days this week. It will be a lot of entrees to chew on, especially after yields moved to multiyear highs last week. It comes the same week as the fomc minutes. Gauge one the closed willteeply borrowing costs compared to how the u. S. Debt burdens wells, you can pull this up on the bloomberg. Burden swells, you can pull this up on the bloomberg. Lets cross out to James Sullivan at j. P. Morgan chase. We are about to set sail for those bonds. What will we find out . Thing the most important we are talking about at j. P. Morgan is a resumption of the phillips curve relationship. There has been a lot of conversations whether the relationship between unemployment and wages has effectively gone away. We dont believe that is the case. In reality, we are forecasting a steepening of that relationship forward. In which case, it provides an additional driver to inflation that we dont believe is fully captured in the numbers right now. So we are currently seeing the barden in the market what is in line with that thesis. Yousef is there additional cost to taxpayers because of the recent Political Drama but also the economic reality in the United States and globally . James i think the answer is an unqualified yes. If you look at what the u. S. Government is doing, it is using acal policy that is fiscal of policpolicy. It will be the largest amount of debt that the u. S. Government has carried in a nonrecessionary period in u. S. History. By definition, that will increase the overall supply of debt in the market, therefore, the cost will continue to go up. Maybe there is something dysfunctional about this rapid recovery. Historically, rapid recoveries after a steep selloff tend to forecast additional selloffs in the future, more volatility. What is your take on u. S. Equities at the moment and the risk for another may be much steeper correction . James i would agree in terms of the impact of a selloff similar to what we just saw over the course of the past couple of weeks. In terms of increasing voluntary daesh volatility, i slightly disagree in terms of it if utility is a forecast measure for steeper corrections moving forward. If we look at the course over the past 30 years, when you get a volatility spike like in february, every single time that has occurred in the past 30 years, equity markets have been higher on a threemonth forward look. What we have seen is a recognition that ultimately markets are like about spirit if everyone is leaning in one direction, you will get a fairly markets are like. If everyone is leaning on direction, you will get a fairly markets have gone from effectively very overbought very oversold, which is why we are seeing investors come in. The core thing we are focused on is the earnings outlook. 80 of S P Companies beat earnings expectations in the first order. Positioned quite well. Yousef james, i like how the team puts it. Who would have thought that a higher cpi front would turbocharge another rally in u. S. Equities . That goes to show how some of these historical correlations precedents are breaking down. U. S. Politics, the investigation into russia collusion and tariffs on the other come escalation there possibly. Which are you more worried about and why . James from a neck we market perspective, the potential for tariffs or trade wars is very high on investors list of concerns. That clearly impacts the market here in asia, given how exportoriented these economies are. We have seen effectively very small dice announcements out of the u. S. , like solar palatals and washing machines solid panels and want to machines. We are facing a very heavy calendar of trad announcementse trade announcements out of the u. S. Around. You are sticking we have a lot to talk through. James sullivan is staying on the program. Lets get you a preview of what is to come on Bloomberg Markets middle east. A boost for saudi arabia. The details a little bit later on. Eyeing an end to stimulus. This is bloomberg. Yousef this is Bloomberg Markets middle east. We are live on bloomberg tv and radio. Recap. Read ca a mixed picture. Arabia at saudi and saudi arabia flat. Egypt gaining as much as 1. 3 off the back of the Interest Rate cut they came through after markets closed on thursday. Lets get you a quick check on the latest business flash headlines. Christine noble group says it is confident every building its business in asia, despite losing 1. 3 1. 93 billion. Restructuring talks with stakeholders have been productive. That there are still some shareholders and bondholders that have criticized the deal announced last month restructure 3. 5 billion worth of debt. Plans for an initial Public Offering of its Health Division today. Joe kaiser is likely to use the money generated to help acquire companies and use it to pay down debt. Londons Property Market has moved out of its boom phase and is warning sellers to be more realistic about the price demands. In a new report, asking prices were down 1 from a year earlier in february and a six consecutive fall. Sixth consecutive fall. That is your Bloomberg Business flash. Yousef lets talk about one of our other top stories. Vanguard is betting big on japan. The 4. 9 trillion money manager says that pick up in prices will boost equities, unlike in the United States where fear of inflation sent shares tumbling into a correction. The abe is keeping kuroda in the job to keep up the battle against inflation. James sullivan from j. P. Morgan is still with us from singapore. How do you see the boj operating in a market that is clearly pushing against it . Twos i would highlight facts from a broader macroeconomic perspective. Data has been somewhat week in japan, but we have to put that into context. The most recent quarter was the First Time Since 1989 you see eight consecutive quarters of gdp growth in the country. It is best we are looking at an underlying Stronger Economic story. That key question at this stage is the negotiations we are likely to see in the course of the next couple of months, concluding in march. If those go through as expected, we have two 25 basis point rate hikes in the cards in the second half. It depends on the level of wage hikes we see in the negotiations. Yousef we put this up on a chart for additional context. In terms of what is happening with the yen, what citi is saying about that, perhaps the 1. 05 handle is not enough for the shorts to cry ago to cry uncle. Shows shorting the but it iss crowded, unlikely some of the subsequent moves sending out. The shift may also suggest confidence the boj can control inflation. Do you agree . A couple ofld make my spirit number one, anytime you see extreme crowding in any position, it is a sign of trouble. We are seeing that in bond markets, where people are taking extensively pessimistic views, overly pessimistic from a shortterm perspective. We saw that early in february. The analogy of markets and votes, if we are leaning over one way, we are likely to see problems on a shortterm basis. On a longerterm basis, we are still in dollar weakness relative to the yen. And we are comfortable with that forecast. Our aversion forecast in japan, a comes down to the negotiations next month. The question is whether employers use the weak Economic Data recently to not give as much to laborers in japan as we have penciled in the fort. The forecast. Yousef as Asian Central banks begin to tighten or reduce stimulus, what happens to your emergingmarket equity strategy . Are you making any adjustments . James ultimately, it comes down to why the rates are going up. If it remains a strong growth story, you are effectively just normalizing into a more normally run it. Thats fine. Ultimately, emerging markets are driven by Earnings Growth differentials to developed markets. Seeing emerging markets growing faster than developed markets. If it is far more of an inflationarydriven story, that is a direct outlook. That is not what we see in the numbers. In a mediumterm basis, we remain bullish in emerging markets within a global setting. . Ousef anything specific it is a big week for the likes of brazil, south africa, and russia. James here in asia, we continue to focus on china, which has been our topic for the last year and a half or so. We are seeing strong outperformance, not only from the hang seng, but also more specifically from the hse i index, which is up. Our contention is we see ongoing supplyside reform across the border the broader chinese economy. We see a restructuring of the economy to a more consumer servicesdriven economy. We see that real and supported by underlying data. The core sector pick in china would be the financial space, which is a core beneficiary of the broader Economic Growth and an improvement in the overall and hell ask her. Npl picture. You. F james, thank lets get you a preview of what is up next. Star entertainment ceo returning to australia after being scared off by chinas crackdown. Our exclusive interview is next. This is bloomberg. Star entertainment says wealthy foreign gamblers are returning to its family tables after numbers declined following the arrest of crown resort staff in china two years ago. Paul allen spoke with the ceo after the Company Announced a decline in firsthalf earnings. Our profits are back, just as you described. In the bmp business, which represents a quarter of our income, we are exposed [indiscernible] for the last three halfs prior to this one, we were really lucky. This time we werent. There are a lot of happy campers out there over the last six months. Paul doesnt always win. Exactly. That is in the nature of our business. Our guests were successful. You also have to look at the fact that the private gaming rooms in sydney for the pastor years have been growing quite fast. We are now basically at capacity. We are not going as much as we used to. In amenities, we are able to offer and out of capacity. We announced that we have to spend 220 million to expand our proper gaming room to provide facilities to these highend the mystica gamers so we can reignite the growth. Growth inyou notice the wake of the crown case . We saw significant reduction in volume last year. We were down in the first half about 25 and 20 in the second half. Paul did you take any lessons from that . We had already been on a of [indiscernible] we certainly believe that we cannot rely exclusively on only one source market. You look at our results. Asia farction north outstripped north asia. That began two years ago and is now getting really good at traction. Paul crown will be opening a casino here in 20 21 p. M. How much of an impact easy that on your business . It will in 2021. How much of an impact is that on your business . It will obviously have an impact on our business. Part of what we are doing is upgrading our facilities. We are doing work around loyalty and Customer Service to make sure we are in the best shape we can be when the competition arrives. Paul you mentioned the domestic gamers. We have week wage growth in australia. Rates, the next move will be up. How will you attract the mystica gamers in that market . They gaming category how will you attract domestic gamers in that market . They gaming category in australia is very complicated. It is about 1200 per year. A big part of our growth is share shifting. Most of our competition are the clubs that are around us. If you look at our facilities, theyre quite unique. We have unique offerings that we bring to the market. The second is our loyalty system. That is a big part of how we seek to shift some of the share. Thirdly, when it comes to nongaming, we offer some of the best hotels, restaurants, food and bedrest food and beverage. Paul you are building optimistically some new developments as well. Can you tell us about that . Thats queens wharf. That is 20 of the Central Business district of brisbane. Buildings,en away excavation will start in march, and its a big development. We will have five hotels, probably north of 50 bars and restaurants. We are curating 12 football feels worth of public around the space. It is an Exciting Development that will be by a transmission for a company, but also for brisbane. Yousef the ceo of started to jim and speaking to bloomberg television. Some notable moves. Msci index. 9 higher. The nikkei has building up gains. Strong japanese export data being seen as the economy doing better than expected. Bloomberg dollar index still under pressure. Up next, well talk about saudi arabia and its inclusion helps for summer and beyond as the kingdom is about to be the thirdlargest em ea player. This is bloomberg. Yousef youre looking at a live shot of downtown new york. It is 11 30 p. M. Over there. It 30 in dubai. A lot to digest for investors. The index lower, but not as low as we were you a few minutes ago. Theyre an mindeds u. S. President s day. Some of the other markets in the u. S. Will be shot. Lets get a quick check of the first word headlines. Lets go to christine. Christine thanks. Japanese exports gains for a 14th straight month in january. By moreshipments rose than expected, 12. 2 . While imports rose 7. 9 . That is the first japanese trade up in eight months. The strengthening yen remains a risk while it makes imports cheaper. China says proposed u. S. Tariffs on imported steel and aluminum products are groundless and warned they may retaliate. Slapr ross is the u. S. May quotas on imports of aluminum and steel, including a duty of 20 part 34 of imports. They say beijing will take necessary measures to protect its own rights. Survivors of last weeks Florida School shooting have called for nationwide rallies next month to demand lawmakers act on gun control. Students who appeared on u. S. Sunday Political Program focus their anger on president trump, calling his response needlessly divisive. Trumps tweets criticized democrats and the fbi over the attack that left 14 students and three adults dead. People are saying it is not time to talk about gun control. We can respect that. Here is the time. March 24, in every single city. We are going to be marching together as students, begging for our lives. About the gop, this isnt about the democrats. This is about the adults. At thisneglected, and point, youre either with us or against us. Christine a plane has crashed in the country with all 65 people on board killed. The airline came down in a foggy mountainous region of southern iran, 800 kilometers from the capital. The head of the central bank has been detained by the countrys anticorruption bureau. The arrest of him followed a search by of 30s of his office and private property, that is according to state owned ltb. There are calls for him to step aside to prevent harming the countries financial sector. Superhero movie was with an africanamerican in the title role and a largely black cast has set a record for a february opening in the United States. Black panther taken 192 million over the weekend. That is the fifth of biggest open ever in the north american market. It was also the most accessible movie worldwide, raking in 361 million in total. Global news, 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. Im christine harvey. This is bloomberg. Yousef thank you, christine. Lets talk about what is happening in japan. Shares are on the rise. That rally has been accelerating. As they again gave upon is. We have more on when exactly we need to keep an eye out for with our market live strategists. In, Central Banks are focuses week. I want to start off with what is happening in japan because it seems the equity markets will be higher with tech shares leading those games. Some of the investors have been struggling to pin this down to a specific reason. It is a multiple multitude of factors, isnt it . Mark yeah, i think the whole backdrop story for japanese shares have been better. Bit of slowittle progress finally being made on the corporate form side. On top of that, you then have the fact that corona has been confirmed as carrying on as the governor of boj. He is completely committed to easy policy. They have made clear that the boj will stick to their plan until they get higher inflation. There is no sign of inflation yet. Which means they will pump liquidity into the system. Good trade you have data. When you look into the details, it was great to see exports are sailing. Overall, a couple of good stories. All comes together for japanese stocks at the moment. A busy mark, we have week for the treasury in terms of issuances. The thinking is that the higher late is that there will be a higher lead. Where do you see u. S. Yields going, on the shorter and an longer and of the curve . Massive focuses week with 250 billion worth of that. It is a really big week for supply. I wonder, as the market got excited about that and already priced that income a we have known about the suppliers for a wild people have been focusing on it for the last couple of weeks. Maybe we have already seen the peak in yields of the moment. This does not mean yields will come down much. I dont think they will and silt until we see equities turn lower. It is a consensus in the market 3 . They must treat it i get worried when we get close to an arbitrary target. And yet dont trade out of it. They move lower in yields. It may indicate where we will go this week. Terms of the equity pain and whether that is really behind us, there is an argument to me made that such a correction if you take a look at year to date returns, we are back in the black for a lot of these benchmark index. Historically, that is not a good sign, is it . Mark something makes me slightly uneasy about what we have seen, basically a correction. I find it so it slightly surprising, given the overall rise in volatility. Volatility has come back down from the extremes but it is still elevated. The final worry is that credit markets are trading poorly. They can often be the canary in the coal mine. Even though i am not structurally bearish, i am slightly worried how quickly the banks and do feel we may have another dip lower at some point during the week ahead. Yousef mark, appreciate your time. Hes joining us live out of state of out of singapore. I want to turn to saudi arabia. We got an update in terms of the inclusion. One of the most anticipated events for the region. Has 32 of the mid says 32 of the Nations Companies could make it. 124 dollars. That would make it the thirdlargest out of south africa and russia. Lets bring in the head of Research Welcome back to the program. You your team has been working quite a lot and put a lot of time into finding the right strategy around this msci emergingmarket inclusion. Break it down for us in terms of how you would navigate that. For us, we see a lot of investors lining up in the upgrade. Provisionalk at the indexes of msci, you see a lot of them are not meeting their strict criteria. We think that event itself will result in liquidity, which those stocks i dont need the liquidity criteria, they will still make it in the end. For us, the event is more being included, rather than the numbers a demonstrated. With a couple of instances. We anticipated the number of trading days will be equivalent to 158 days. This is something we like to play. We think this will be having a significant effect on the share price of the stock. Yousef we have put this up on the bloomberg in terms of the current breakdown of the emerging market index. You can do the same thing. Imac imap go is the key function. What we can do here is we click on the middle east and africa, then you can see the Current Division on this pie chart with the majority of this competition composition going to south africa, making up the bulk of the 7. 3 . Pacific me of the specific names are sectors where you can where two boxes are checked . One is the strong domestic story in the capital inflow story. Jaap for sure. The market story is pretty decent. If you are in saudi itself, people are still negative about the outlook. I think they are overlooking the fact that these special allowances are being created. There is no fiscal disparity this year. We are pretty confident covenant about the outlook. Growth rates will be fairly tepid. We see a lot of value, particularly in the banks. Some of them are trading around that. And product to south africa where the price of books are north of the two times. It is a significant value. There are a couple of turnarounds. There are some fasters that grow quickly, like health care, insurance as well. Yousef the rising rates, that will play into some of these key lenders. What are some of the names you are looking at specifically . , or some ofnd scale the size and scale, or Smaller Banks . Jaap the first. If you look at last years events, it is on average down yearoveryear. They had to pay up for their liquidity. Of 2016. Ed in the year this year, that did not happen. We see margins boosting in the fourth quarter. This year is all about the rush he. I dont know if you can pull up the chart. There are a lot of flows in the stocks. It is trading well above two times. We think that is justified. You can put a mirror, to what happens up until this year in terms of margins. And look back at where the margins were four or five years ago. Interest rates were higher. Same thing for return metrics. We are going to see that coming through for a rushing. U. S. Investors like this because the likes of wells fargo have higher margins because of the higher rates. Yousef it is a fascinating repeat of some of the earlier plays another markets. U no iser sector yo around insurance stocks. What is driving the thinking behind that . Is it the Reform Program that is opening up more demand . Jaap the reforms are slower than expected. We expect the Registration Period for vehicles to be up to one year. That will be doubling the market. Some have been diligent on this. Because of internal struggles within the administration that has not actually happened. We think that is a big opportunity. The big medical Insurance Companies are struggling as of a competition between the two. You can see the share prices dropping quite sharply. It is mostly around the Insurance Companies that have done well. Yousef let me run and oil question by you to we have more commentary from opec, nonopec and we have put together a graphic to show what has been happening with inventories from the oecd and how the inventories have been coming closer to the fiveyear average. Not to there yet. But in terms of mission being on target, yes . In opec,e seeing nonopec discussing new ways of measuring inventories. Arguably, creating a scenario when youre looking at a much longer period for this agreement between these two groups. All ofr view change at who will win this fight . Jaap not really. We thought the spike to 70 was shortlived. Yousef you could have done with more of that, right . Jaap it would have been nice. For us, it has been a scenario between 50 and 60. 50 is livable. 60 is ideal. If you look at the fiscal breakeven of the gcc, it is 61. Nd as long as you are around the 60 levels, you take up a little bit you take out a little bit. The reason is pretty decent shape. Yousef that is what the latest bloomberg piece points to. You have saudi arabia the traditionally was a dove in these the liberations. Now becoming more hard lined in its policy approach. Bc underscoring rbc underscoring what you said. Were sticking on the show, have a lot to discuss. Incredible conversations coming up. The Biggest Discounts. Why stocks in dubai are cheaper than their counterparts in egypt . This is bloomberg. Yousef this is Bloomberg Markets middle east. We are live on bloomberg radio. Lets get you a bit of the latest market action. We saw the nikkei continuing to build on early gains. Driving mbs and csi agents. A couple of other interesting moves. This is not just a weaker dollar story. Up 1 9 of 10 . The bloomberg dollar index almost flat as it stands. U. S. Equity futures marginally higher. Lets get you a check of the latest business flash headlines to christine harvey. Christine thanks. Abu dhabi has awarded a second slice of its offshore oil area. For 1. 5 to producer billion. The company which is owned by abu dhabis investment will take a toy percent stake in Development Rights under a fouryear contract. Noble group says it is covenant every building its business in asia, despite a net loss of 1. 93 billion. They haves told the Singapore Exchange that talks with stakeholders have been productive. Some shareholders and bondholders have criticized the deal announced last month to restructure 3. 5 billion worth of debt. The best set to announce plans for a Public Offering of its Health Care Division as early as today. That is according to come two people familiar with the matter who say the ceo is likely to use the money generated to help acquire companies and its main businesses and to pay down debt. Vanguard is betting big on japan. The 4. 9 trillion Money Managers says a pickup in prices there will boost equities, unlike in the u. S. Where fears about inflation sent in the shares tumbling into a correction. Vanguard says inflationary trends will continue and it doesnt matter if the boj fails to reach its 2 price target anytime soon. Right move says londons Property Market has moved out of its phase and are warning sellers to be more realistic about its price demands. The new report from the website shows asking prices were down 1 from a year earlier in february. U. K. s worstperforming Housing Market in 2017 and there is little to suggest there is any of turn in store as brexit uncertainty ways. That is your Bloomberg Business flash. Thanks, christine. Visitors to divide. Lets talk about that. Buying most things on the street of the egyptian capital is a lot cheaper than in the middle east. A lot cheaper. Not stocks, though. In the Dubai Financial market are showing the Biggest Discount in almost three years. Egyptian it it stocks since the currency float made it the best performer in the middle east, while a lack of positive catalyst has weighed on shares in dubai. Lets bring back the head of research at our, capital. We put this up on the background on the bloomberg. Our clients can pull it up easily. Dubai stocks are trading at the lowest valuation to egyptian shares animals three years. Panels have spread you can see how that has turned dramatically over the last year. Which one do you prefer to of these two stories . I think both stories have interesting angles. Say, dubai is mostly dominated by real estate and the banks. There are a lot of cheap banks out there. There is a turnaround story. The turkish acquisition could unlock a lot of volatility. Shares, it will probably be increasing. Turnaround stories like my shrek bank, emaar, and a lot of value in to buy. In egypt, it is about recovery. People are willing to pay earnings two years out. They have overweighted the banks. Last year, it was about higher margins, for the bank. This year, it is about recovery. Interest charges. Investment is picking up. Mostly, that is one year out. Looking a year out, people are willing to pay lets say, singledigit pes forward. That is a result. You just cited what you just said, banks are the bargain. Assets and Balance Sheets are strong compared to peers. There is an issue of sentiment. That is where the index have underperformed, nudges regionally, but Global Equity markets. Are those names you are willing to recommend in light of sentiment assist not there . That would put a cloud over any outside. If you look at the model portfolio, you were able to make 35 return. In terms of performance, the growth wasnt there. The emerging markets for picking up in terms of momentum. The money was flowing elsewhere. See we are starting to improved momentum. You see these folks improving year to date, up about 10 . People are looking at those turnaround stories because there is a real turnaround story. Bank, everybody is looking at it. The only reason why is because of the sol, 5 . Tore are investors trying get into the stock. If that goes, the stock will fly 20 , 30 , 40 . Yousef how much momentum was on egypt . How much momentum do you expect to build into the egypt reform story, in terms of investor interest around the world . Have giveny story investors some of the best returns around the world. Are you seeing a lot more inflows and a lot more requests to allocate as allocate assets into egypt . Jaap a lot. We had a conference in south africa. The best story out there were very strong. The pharmaceutical companies, all have done well. A lot of appetite for egypt at the moment. Yousef always a pleasure to having you on the program. He is a head of research at our calm capital. Lets get you a reminder of what you can stay tuned for. We are going to have coverage of the International Petroleum week. That is coming up on tuesday. We speak to bob dudley. Lets get you a bit of a sense of what we are about next with the middle east markets. Open one hour away. We take a look at which stocks are going to be key for you to watch. This is bloomberg. Yousef here are some of the ideas to give in mind ahead of the open. They have released their 2017 earnings this morning. Was 5. 87. That revenue the company says it sees Stable Revenue in 2018. Customer base rose 5 last year to 57 million. This is a stock that has three buys, for holds. Four hold. 5. 5 with a return potential of 5. 2 . This is one of the Largest Companies in middle east. In the middle east. The company was previously rated buys, oncets, seven out. Previously won your performance. Short of their 10 . Also, other news to keep in mind, name holding, getting and it did an ejection regulator to list on the Dubai Financial market. The company has been keen to push that on but also the liquidity on the markets are drug get more details over the coming days and weeks. In terms of corporate and economic events, euro area and italy. Wehave the bank of england, will get more clues about the projection for rate hikes. Euro area finance ministers will be meeting in brussels. They will be issuing the world oral exports and output data. Lets get you a quick check about some of these equity markets. Continues to trade higher, 9 10 of 1 . Driven mostly by the nikkei. Index stillllar relatively flat. The Energy Complex as a whole marching on. That is a we have for this edition of Bloomberg Markets middle east. We have all the top stories from around the world. Coming up, Bloomberg Technology is next. This is bloomberg. The following is a paid program. The opinions and views expressed do not reflect bloomberg lp, its affiliates, or employees. The following is a paid presentation by the murad rapid lightning regimen. The only doctor developed skin care system formulated to reduce by twon skin tone shades. Guaranteed, or your money back. Coming up, see how women all across america are taking murads sevenday challenge. Fading age spots, sunspots, and discoloration in as little as seven days. And now, you can too with our best offer ever