Discussions examining threatening prosperity and exploring solutions. It is 100 clear to us that the cost of inaction is higher than the cost of action. When the rules are clear, we are going to follow those rules. Time is running out to address climate change, so i think it is right to hold our feet to the fire. Abigail this is all straight ahead on bloomberg best. Abigail hello, im abigail doolittle. Welcome to a special edition of bloomberg best with highlights from the Bloomberg Business global forum. This annual event brings together the worlds most influential leaders in business and government to address the most pressing global challenges and explore opportunities for solutions. The theme of this years conference was restoring global stability. The Prime Minister of india, narendra modi, delivered the keynote address and joined Michael Bloomberg on stage for a conversation. We believe the earth is our mother, and we do not have the right to exploit our earth. We are only have t
Controversy, but mark said we believe in Free Expression. We believe in political speech, and ads can be an important part of that. Manus the saudi Energy Manager says mohammad bin salman will determine the timing of aramcos ipo, saying it will be soon at the right time. Yousef it is 9 00 a. M. In the emirates. This is bloomberg daybreak asia least. Im yousef gamal eldin. Manus im manus cranny. The bond market, hoping there will be another rate cut in 2020. December might be a debate. Found by seven basis points yesterday, back at 7. 18 . U. S. Treasuries are a must buy. There is risk to the upside. 2 by the end of the year, it is said. Equity futures taking a little higher in the last hour or so on additional traction on the trade front but now the s p 500 is trading 20 times earnings. Some fanfare around Apple Earnings but caution this rally have beenar and they cutting back on their estimates in terms of what to expect in the coming quarters and you could be seen your end around 300
Bank has enough currency reserves including dollars for the next 13 months but there isnt enough dollars for importers and traders how does that work well the fact is that the central bank does have. Reserves but the situation is actually quite precarious just because weve been actually living with a large budget deficit and very increasing a trade deficit now the inability of the lebanese government to actually attract capital from abroad its putting a lot of pressure on actually deserves so what the central bank is trying to do is actually slow down sort of of its reserves in order to actually contain this situation right now. Is there a trust issue between the banks and the Central Banks or as the Central Bank Governor has suggested dollars should be used inside lebanon and not outside is he suggesting then dollars are being withdrawn and spent in say syria actually did relationship between the Banking Sector and the central bank is actually quite strong in fact its that high level
A critical source of finance but there are other reasons behind the shortage of cash in the country. On iran for example affected its funding for its ally in lebanon which is also under sanctions this is disrupted the flow of remittances countries also stop providing help to a country they believe is controlled by their rival iran people are starting to take to the streets there is panic over the currency losing value which has hurt their spending power last month the government declared a state of economic emergency for these protesters however this crisis is not new and they want those in power to be held responsible for years of mismanagement and corruption well lets talk more about whats happening in lebanon from beirut we have sami executive director of the lebanese policy studies thanks very much for being with us. So i want to ask you 1st help me out with this the central bank has enough currency reserves including dollars for the next 30 months but there isnt enough dollars for
Exploring solutions. It is 100 clear to us that the cost of inaction is higher than the cost of action. We are going to follow those rules. Time is running out to address climate change, so i think it is right to hold our feet to the fire. Abigail this is all straight ahead on bloomberg best. Abigail hello, im abigail. Welcome to a special edition of bloomberg best with highlights from the Bloomberg Business global forum. This annual event brings together most influential leaders in business and government to address the most pressing global challenges and explore opportunities for solutions. The theme of this years conference was restoring global stability. The Prime Minister of india delivered the keynote address and joined Michael Bloomberg on stage for a conversation. We believe the earth is our mother, and we do not have the right to exploit our earth. We are only have the right to use it for our needs. India has this fundamental principle, we can understand and knee we can unders