The iraq or she has become bloated. The bureaucracy has become bloated. Is just past noon. We are talking about oil and whether the meeting will be successful and the markets are predicting some play. That is right and i have a cynicismt shows some delivery and you and it the difference tells you that the oil market is pricing in a lot of supply and we are not sure whether the Production Cut will take care of this. If you get a thing from this, it is skepticism in the market. Lets do a check at the state we are seeing the uses and there were disappointing there was disappointing data and it is not as bad as expected and we are the opening of the this stockrkets and index andg on the there is a record bond sale and it really led the rally across the gulf. That is right and we will talk more about the rally in just a bit. Lets take a look at the headlines. The japanese exports fell and the economy struggled with the weak global demand. And the yen has gained around 16 this year. There was a shipping slump and a spokeswoman said they want to close all of the branches and the Regional Headquarters in germany and it could have an, if the plan is a proved and the judge said they preferred to votings shareholders against the chairman to the board and they said that he is not qualified, because he and he was nominated to the lord. Groupad of the banking says that lenders will relocate out of the country by the end of the year and they told the observer that many Smaller Banks will begin the move in the Third Quarter and brown said the banks must plan for the west, because the debate takes the a kingdom in the wrong direction. Global news powered thank you. This is one of the latest in a including thes, takeover of time warner. We are taking a look at both of these to start with china. Is a cash deal and they are than leave2 , more friday Closing Price and they said it will operate as a standalone company. This is likely to give a boost thewe will see the game gain in the middle of the flurry of the deals and companies are looking to boost growth overseas and we have seen this spurred by prospect ofand the a slowing economy. And thise another deal is at t looking to face stiff scrutiny in the purchase of time warner. Valued time warner was the company says the deal is expected to close by the end of the year and it is subject to review and will get look by lawmakers who are issues andith the there will be a hearing in saying theyh brian will look at these deals and trump said that he would block this deal. Combinedibution is with the time warner content and there are questions with the antitrust results. Thank you so much. Saudi arabia says they are confident and this needs to be rebuilt. And the gulflks nations have reached a common understanding with prices and Oil Producers are a talking extreme costcutting measures. Is opec or not, we all agreed on the higher prices being good for stability and the confidence must be rebuilt. Anthony ands now is doing forudi arabia the cuts . There is a plan to cut Oil Production and they hope to reduce the oil surprised the al supply and this has had theyt in the markets and andt want to take a risk this and the with prices go further. What they have been doing is look at other producers and getting them on board to reduce production and they have not said whether they will make a cut or whether they will freeze wouldfreeze from them impact and it remains to whether russia or others will join in the effort to reduce the supplies. They say theyre busy fighting isis and how will this complicate cuts . Everybody has to kind of pull is whatight and this all members need to take part in iranhey have said that should be taken into account and this is cutting production in the exports and this is a big rebuildinge are also and should not have to cut. Were in access and would not come back from this level. What is more is that they are disputing some of the figures to set a baseline Going Forward for where they want the production they say they will not play ball in the cuts and they do not agree in the estimates on the level of what they were producing and these were real issues that had to be worked out before they get to the meeting to decide how to implement this plan to bring production down. All right. Thank you for that. Shark in theggest pond makes his splash. The saudi stocks across the region and we have all of the details next. This is bloomberg. Welcome back. The Saudi Arabian stocks had gains for a third day and traders are betting they will have millions in the maiden bond sales. Backe say that optimism is for the saudi stocks market . We can say that for the past few days, we have seen optimism 85 ande was close to they finished the trade down and this is because of what we saw last week and they will repay thisof the companies and generates a positive momentum for stocks, with Companies Getting paid and this will generate a positive sentiment in the market and you have to remember that there is a market with Retail Investors and positive news makes people excited and they feel like going back to trade. What about the earning seasons . Investors are not a ignoring that. That is correct and we have most of the companies posting areings and investors watching this closely and we had a good example of this yesterday has jumpedany that posted the and they is aase in profit and this and investors are still reacting to this. Sector . Ere any curiously, we are seeing a good performance of Health Care Companies and a good explanation the big is that some of health care names have investors ared clearly seeing a good moment and they will get paid and the results will be better than what we have seen and people are getting as many stocks as they can and it is important to remember that nobody knows the the problems of the economy are still out there and we are seeing a reaction to what we saw last week and it is a good moment for investors to go and buy, but no one says this trend weade the will see through the end of the year. We appreciate that. Efficiency is under scrutiny. Ministers described the sector as bloated and said that some government workers are only. Roductive for one hour a day joining us is the founder and the economists at arabia monitor. The tv show is being seen as a on to reduce the reliance. Il and whether that slalom how important is it to get that message out . It is important and we have Public Sectors and they have inided to drill this message excellentnd that is and they are trying to promote that. Very few governments are doing this and this is something we complacencyre is and it has dogged the government for years. We saw someone say that, without the recent austerity measures, the kingdom would have went bankrupt. It would have been difficult to continue to keep up the public expenditures at the rate they have them and i think that this is a moment of reckoning for the kingdom, which is withing coming to terms this and the choice to do this is courageous. I hope that some of the proceeds will be used to create the equity supplement theso incomes of those who are hit by theausterity measures and Public Sector cuts will hit them in the pocket soon and i hope that this will widen the social net. Y this only goes a little bit of the way to easing public gulfr workers and the there are onlynd enough jobs to accommodate one and how do you transform the economy quickly . The most immediate way of tong this is through efforts the economics and this is a vote of confidence in the this is true with the emerging markets and a confidence that the system will deliver in the long term, which is a huge benefit. All right. We will hold that thought and we will broaden our discussion and discuss the fed president s who talk about how the United Kingdom is coping with brexit. That is next. Welcome back. You are watching bloomberg. The founder and chief economist they were just discussing the enormous appetite they had with doesons in debt and what this say about the wider appetite for the market and is the environment conducive for yields . You may have noticed hardly any emerging markets and there is a search for the yield and emerging markets have demonstrated that they survived the crisis well and brazil seems to be coming back. The confidence in the market has not been shaken and the appetite should be spectacular. This could be true. At the end of the day, there are and dos about the shift you think it will be successful . Challenging, with i know it well. The new team in place had the energy and the vision to transform the country. The Television Show we were debate onout had a the merits of the transformation in the program and there is an example of this public and it ision going on different from the way the other governments function. The energy and the vision are i think it would be a great start. At the end of the day, it will boil down to oil. What the chart shows us is the markets taking a wait and see attitude and allowing the attitude the rally to go on. Do you think opec will be successful and do you think the rally will continue. Continue . There is a desire for this to be successful and it was expressed by the leader today and there is a desire to do this deal and i do not think they have gone as far in announcing deal and saudi arabia can and i find it commendable. There was a significant portion my feeling is and that something will happen. How strong of a deal will this be is something you have to work out for look out for. We are going to leave it there. In singapore, i am highs in death haslinda. Is confident about the oil price and they say and must be rebuilt. The gulf nations have breached an agreement on costcutting measures to deal with costcutting measures. Whether it is opec or not, we have agreed that the higher prices are good for stability and the confidence must be rebuilt. The reduction on prices have been hit and iraq says they should be exempt because of islamist militants and they figures andopec this could go higher. The yuan is even weaker. They are signaling eight later a greater decline. The accuser a body was discovered on november 1. Global news 24 hours a day. I am haslinda almond. I am angie lau. I am tracy alloway. Lets talk about the politics lets start with the spanish story. The socialist party says they will not block the acting prime he will likely take over in the second term. In abstaining, he will be able thist enough support and party wants to avoid a similar to maintainy want relevance and dont want to trigger a reaction. They would risk giving more itport to a rival party and looks like we could see an impasse and this could be the next step in the process. I understand that you will have an update on the Banking Sector. Onwe will keep in outlook this Banking Sector and the focus will be on the italian be thend this will theremance of loans and is a new ceo and they are off nonperforming loans stock is down and this underlines the stresses. Potential for job losses newng through and there are acts and the judges have yet to agree to the sale. Why are they closing down . 4. 2 of they only had the market share. They have been dominated and unable tops were and they are there is this rifle here. They hope that there is they were at. 5 with they thereshare and is a stake in the long beach terminals. They are looking at some of the businesses. That. Nk you so much for ande are staying in asia the top leaders are going behind closed doors. Steven angle is here with more and what is expected. This is going to set the table for a Political Congress and the president will be of this andmidpoint he is going to be trying to ensure the Party Discipline and the party loyalty. Thereill start today and is an ongoing anticorruption drive. There we further industrialization of the military. Give us some more color on the big deals for the country in the market. They insure the Party Discipline and they make sure their nose out of the tens ofon crackdown and thousands of communist Party Officials have been caught or ensnared in a drag net, permanent and alternate members. The marching orders are too cheap the nose clean and you could be up for a promotion, when the Party Congress comes around. Thank you so much. Lets get the latest the latest from the markets. Markat is standing out to you were talking about the play and you have to pick iskets standing out and it really in this part and the rest of asia. With a lot of people on the sidelines and you have three of the four Biggest Companies reporting and and it is arnings big swing factor, with equity factors. It is a real play on what can be announced week and you get the priorities the government is coming out with and you have the benchmarks outperforming and this is shanghai, rather than the new economies. And you at the index see the shanghai composite and you are back to last january and futures are getting a bit over. and they lag behind currencies are about the and this is north confusing it is very and we are going to have a look level offshore and this and it is inches away on the stats. Where is the chinese currency . A lot of currencies have weakening. It is not it comes down to the fed and there is a different conversation altogether. We will be getting into what the feds will be getting into and the u. S. Dollar. That is coming up next. This is bloomberg. Welcome back. You are watching bloomberg. Look at the business headlines. 737s and theyrs will be delivered between the crash inafter , the cause ofs the disaster is still not yet known. After the collapse, the expansion overseas. Has started the international has stores in 14 countries. Crisis ispening spreading to sugar. Spiral in sugar has doubled in price since august. The managing director for the middle east and africa. Lets start with the stronger u. S. Dollar and what is happening and we are seeing stronger dollars. Is this something you are concerned about . You are looking at the peoples and it worries who are dependent on oil. They are still consuming much in the imports and we are dollardependent. The potential still remains for and, in kicking off africa, yes, it is painful. Energy has start to pick up the strength of dollars is and the to commodity continuing dollar creates a ofblem and is a reflection outu. S. Data numbers coming the dollar will continue to hurtgthen and it will growth. This is a search for yield with investors and we have talked about the issuing of the program. When you look at the strength of , you look at the faith in the transformation plan. That there has not been an issue in a long time and people see this as an investment and we are talking and thee reserves and i am not in the bankruptcy camp. There are assets coming onto the market that are attractive and there is a search for yield with the pricing being attractive. Goodcome out with a pricing structure and the clients cannot get enough of yields. , there arent if somebodyes and will pay you over, you will take it. What are you looking for in emerging markets . Andou have to keep moving we have the extensive team that spends a lot of time managing the space and this is an area highyield and ande is a search for yield we are looking for yield. And these are areas where hungry investors are knocking on our doors to help. Thank you. We have breaking news to share with you right now and this is a german supplier of semiconductors and investors had and they are this reopening the review. They were informed of the andsion on october 21 withdrew the clearance certificate on the table. Worth 670 million euros. Golfer and world top he shifted his career in private equity. We will hear from the shark on bloomberg. One in norman was number the 1980s and 1990s and he is not stopping there. He has a partnership with verizon. I had to get away because i was not going to play forever and i had to transition away to come to this company and this haveorm was solid and i business partnerships and my and i canp was fraud look at the longterm. The clothingned line and you have gone into this is a leap you cannot get. These2008, a lot of businesses could not get Investment Capital to grow and we looked at this. We started investing and getting returns. It was all collateralized against the assets and we did not want to be operators. We want to be the facilitators invested innd we the businesses and they went decided on and bringing friends and family and and they have people going with us and there it is today. There is the Investment Opportunity and it is starting to broaden out and it has been good for the last eight years and we are producing this for another eight years. They are saying they are getting these returns in the teens and the 20s and some of these are in the 40s. You show them the proof of this at by the bigoked boys of wall street. We are just ahead of a big election with the partisan feeling in this election. And i wonder why america is humiliating themselves. I will say that the american inple are the most resilient the world. There is a real estate boom. Of a deal, at t agrees to buy time warner for 85 billion. Will that take over gifted the regulators . Trade troubles, japanese exports fall, hit by a stronger yen and saw global demand. Together again, theresa may howares meetings to discuss they can work to get the best outcome from brexit