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CEO of Dubai's DP World sees growth in Africa, India

BTV Simulcast

03:20 min | 5 months ago

CEO of Dubai's DP World sees growth in Africa, India

"Either by base force operated DP world sees growth opportunities in Africa and India to be the kind of office insult and I'm a bit soleil and spoke to Bloomberg at the World Economic Forum in Davos this week because sure was a good times overruled look at the gym for example with the right policies for some policies and that's no no extension refunding double bed the competitive or port in NASA managers are wonder that as he did in two thousand and two to four four million dollars over if the I a small container for one to be open to the forced to allow for wanted to become a hub for cargo that could come from data set a minimum Basra shouldn't bring cookies how worried are you that to do politics in the Middle East was really at the forefront since January second of this year that that actually these two political concerns eclipse the trade wars this is not something permanent it is something that happens and it really get excited people want I believe that it's a three three message ID it is very important and that is why your state is negotiating because since it open market for everybody to export to unfortunately other marks and they have to be a fair thing to do that gives a fear of commitment to each other how you doing with China as part of the building of the mischief but also just in general how much investment does China want with us we have another time but just China I mean this agreement gives in my opinion a comfort as to the fate as who want to export from import will import from China knowing they could be a custom you had not the board that's a lease this card will come to general picture things getting better when and why we announced from the corner you sick **** with the supplied to in in addition and how he with an efficiency how do we utilize restricted by the airport which is very busy link probable export the from the Far East Africa Latin America what you have to be going for that we do have another decision with the course of time and we have identified that and actually one of the three those who started this whole twenty just thought that when is he origin this is a convertible today Amazon highly Bob this survivor because the differences in fact how many jobs designs actually what made the call me lose and does that go back to populism that you need to retrain you know when you talk about jobs lost in my opinion maybe jobs lost in a lower key but in higher today as it was today business we have a commission the recognition for in the past if you assume you make more money because you can have it today if you have an idea you can hear more money so the machine will do the work the

Attack at Somali Port Kills Head of Dubai-Owned Operation

BBC Newshour

00:36 sec | 1 year ago

Attack at Somali Port Kills Head of Dubai-Owned Operation

"Security officials in Somalia say the manager of the Dubai operated portable Sasso has been shot dead more from Wilbur Ross officials say the gunman entered the port by sea in a small boat disguised as fishermen and targeted. It's manager. Paul Formosa, a Maltese national, the Jihadist group. Al Shabaab said it carried out the attack accusing the company running Proceso port of looting Somalia's resources. The Somali government has refused to recognize the deal, which the semi autonomous state of Puntland struck with the Dubai based company DP world, the government in Mogadishu has also rejected a deal struck by the breakaway Republic of Somaliland for the same company to run

Somalia Dubai Somali Government Wilbur Ross Paul Formosa Dp World Republic Of Somaliland Mogadishu Sasso Al Shabaab Puntland
Orthodox Church to move forward with Ukrainian independence

The World

05:35 min | 1 year ago

Orthodox Church to move forward with Ukrainian independence

"Say a landslide which is swept away part of the town. The country's coffee growing region has killed eleven people. The officials added a hillside and the town of Marquetalia collapsed onto several houses during torrential rainfall. The Mexican president-elect under as Manuel Lopez Oprah door has announced his administration will recruit fifty thousand young people for the army navy and federal police force. He said the move would be part of his anti-crime strategy and the new recruits would have good working conditions and benefits Candice. Pierre is our America's editor Mexico doesn't have enough police those it has got a poorly trained and under-equipped low salaries and a lack of protection makes them vulnerable to corruption and the influence of the drug cartels experts say the country invest too little to have what it needs a four search can identify crime hotspots and us intelligence to work out how to deal with them. Mr. Lopez over dole has said he wants to get the military off the streets and invest in Sasha force. Instead, he seems to be talking about a huge increase in military manpower. The Dubai-based portal DP world is. Begun construction work in a project to expand. Massively the port of Barbara in the self-declared Republic of Somaliland the project worth about half. A billion dollars will include an economic free zone and a road linking port with landlocked Ethiopia. An unnamed buyer who big nearly one and a half million dollars for a work by the street artist. Thanks as gone ahead and paid for the painting girl with balloon, despite the fact that the peace partially shredded itself moments after the hammer fell at auction last week the auction years Sotheby's said the European collector had decided to go ahead with the purchase BBC news. Support for the world comes from legalzoom

Manuel Lopez Dp World Dole Sotheby Army Navy President-Elect Candice Marquetalia Ethiopia Republic Of Somaliland BBC Pierre Mexico Barbara America Editor Billion Dollars Million Dollars
"dp world" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:11 min | 1 year ago

"dp world" Discussed on Bloomberg Radio New York

"You very much quick snapshot if you just change into the start at the trading day this Thursday, eight fifty four into by this global markets. Look you are looking at the Nikai at taking a pasting. You are seeing these Asian markets. Our top story this morning the markets. It's just the beginning. Investors really beginning to act in terms of a right? So let's get to my gas in times the repercussions for our markets here in the Middle East. The Malik is they head of equity research at exotics competent when you look at the Nikkei down over four percent, South Korea done three and a half percent higher much. Is this going to knock sentiment in our markets? This morning. Well, if you look at the underlying reasons dollar strength, rising US deals Pyo price trade war heady. Cocktail, isn't it? That's a problem for a lot of big develop global markets. If you look at this region, the GCC specifically oil price, higher rates dollar strength of installation, protection or benefit from those factors. So in general, I'd say for the yes, it does hit investor sentiment. But fundamentally some of these things are actually look very positive tailwinds for the CC were would you pick up? You get a little bit of. And I don't think we're going to be immune. I think you're right. Sentiment. Always rox the retail. I doesn't it. And but if there's an opportunity you you really do quite like got Konta relative to the rest of the markets in the region. Don't you? Well, it's also cut the relative to the rest in the sense Cup heavily outperformed actually the rest, particularly the three stock market in the in the world and within the region in the last three months, it's been a big outperformer. I would actually suggest that where the real opportunity sits over the next two three months in some other pockets in this region. So are parts of Saudi which are very compatible with Cutler which underperformed think of industries, Catherine Sabat Sabat underperformer the last three months exactly the same fundamental drivers LeVine Clark NC compared to Q and B and C B Q and cut the very similar banking models. Both exposed to Turkey the theories of heavily out before maybe time to review something like NCP. And then you've got some really cheap pockets in the region. Parts of Dubai parts of Oman. Probably worth a revisit there's well, you mentioned divine. I'm interested in in in the differential that you may say must've gino's companies. That service the economy off to buy and those that are perhaps more predicated to growth of Dubai differentiate for me in terms of names. And why absolutely so take for example companies like M R molds aromatics DP world. These are companies that have largely built out most of their core assets. They are cash generating this do in some cases of debt, but very easily serviceable, and they're ones that really service the existing to buy me as it set up. Then you have other companies like Demark union properties, the are DFM, which I'm Arab tech which are much more geared to the further expansion of the by now, we all know, and we live here that is in something of a cyclical slump. The non oil economy is not growing that quickly cost of operating cost of living is quite high new jobs. Not being created that quickly. That doesn't mean though that the position of Dubai is an unrivalled hub within this region is under threat. It just means that maybe growth in that sector is not that show that gravitates us back to those stocks that have built their assets and have. Successful demonstrable models. That.

Dubai Middle East Nikai Malik Catherine Sabat Sabat US Pyo South Korea Turkey GCC Demark union gino Cutler Oman DP world Clark M R
"dp world" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

10:24 min | 1 year ago

"dp world" Discussed on Bloomberg Radio New York

"Ten thirty in the morning here in Dubai, I'm to. And I'm Markus Karlsson here in London as we're looking ahead to the European equity market open in half an hour's time in Europe stocks fell to their weakest level since April on a Monday. Will we see not back today while the futures are suggesting that it will be fatty modest if that's the case where the euro stocks fifty futures while they were rising a little bit earlier. But they're now trading around the flat line only modestly higher receiving docks and count futures. Modestly lower this morning marginally lower while Footsie-100 futures are little changed. So overall, it seems as we're heading towards a mixed open. We have mixed session in Asia already. This Tuesday the selling pressure easing in China. With Shanghai composite index rising by about eight tenths of one percent off traits worst slump since June on Monday, Japanese stocks. They've been taking a beating though on the back of a stronger yen, the Nikkei index closing this session with a decline of one point three percent treasuries all trading off to the Columbus. Holiday. We've seen the ten year yield firming at seventy year highs now at three point two four four percent. The two year yield declining by about two basis points at two point eight seven six percent looking at ethics. We have seen that Japanese yen advancing for fourth day. Now, strengthening only marginally higher by about a tenth of one percent. Dollar yen at one thirteen spot. Fifteen we're seeing the euro coming under pressure as we look to Italy once more one spot fourteen seventy s where we trading this morning when it comes to euro dollar when it comes to the Italian situation Giovanni tria he will be getting a grilling from lawmakers over the budget next year's budget in parliament today, the ten year yield on the decline this morning down by around two basis points at three point five four nine percent. The bond yield rising meanwhile by two basis points at spot five four seven percents Yousef. Yeah. Let's get into some of these top stories. The IMF has lowered its global forecast for the first time. More than two years. The funds these escalating trade tensions cutting into growth and weakening verdict. Markets from Brazil all the way of Turkey forecast. Global growth of three point seven percent this year next down from the three point nine predicted in July. Shave two tenths of a point from China's twenty nineteen forecast to six point two percent. Meanwhile, the Trump administration is said to be concerned about the depreciation Huron, which the treasury department is debating whether to name China a currency manipulator, the UN has fallen nine percent in six months raising speculation that China has deliberately weakened did as trade tensions escalate this morning. We are seeing the offshore Yuan trading. It's his six spot nine to one against the dollar. Now. Little changed Yousef. Yeah. Let's also talk about DP world because you've got a trade war between the US and China continues to roll on. But the folks that DP world specifically, the chairman and CEO sultana have been selenium stole Bloomberg TV he is hopeful about the future. One thing for sure. He's going to continue whatever China signed difficult to sell in. They're going to be setting somewhere. I do see a net reduction and trade. Dp world chairman and CEO sultana. Leeann. And as I mentioned earlier in the data, check Italy's finance minister Giovanni tree is set to defend his government's fiscal plants in parliament later today. He's expected to be grilled by opposition lawmakers on a plan that has caused a war of words between Rome and Brussels. Those plants also driving the ten year bond yield to the highest levels since early twenty fourteen while the Italian stock market has plunged in recent weeks. All right. We've got some breaking lines hitting the Bloomberg Gore's generation and see the p q or set to be nearing four two point two billion dollar fintech. That's just coming through here. Right headline giving the size of the scope of this particular agreement. We don't have any additional color to it yet in terms of perhaps some of the terms of the deal. But again, it is two point two billion dollars in size, and specifically focusing on fintech. Yeah. Forget more details. We will of course, bringing them to you for now, though, let's cross over to Bangkok who's got more headlines from around the. The wells. Thank you, Marcus the Turkish government summoned the Saudi ambassador for the second time in a week regarding the whereabouts of missing journalists and government critic Jamal has showed you Bloomberg Symon democrat reports on the latest developments Turkey's president Reggio type ads. One is demanding the Saudis proved missing journalists actually left the Saudi consulate where Jamal casualty was last seen alive. A week ago. Turkey has also reportedly asked for permission to search the consulate. Meanwhile, Germany has expressed its concerns and once the matter resolved quickly in Istanbul Simmons Jemma can't Bloomberg daybreak Europe. A you inconven- panel of scientists is calling for an end to coal-fired power by twenty fifty to reverse catastrophic damage from climate change. And they report the IPC said in order to avoid a one and a half degree temperature increase carbon emissions need to be slashed by forty five percents in just thirteen years. Northern ireland's. Do you pay leader? Arlene, foster says her party members will meet the we'll meet the European Union's chief Braxton negotiator Michel Barnier later today to clinch breaks deal as the deadline looms. Bloomberg's and wish art has more the D U UP which props up Theresa May's UK government, which takes the toughest line post. Brexit plans for the Irish border demanded yesterday to the UK leave the EU as one nation that shows what they think of any attempt to subject the province to different rules from the British mainland DUP support for any border proposal is critical to striking a Brexit deal. In Brussels was shot. Bloomberg daybreak Europe. The IMF is predicting Venezuela's inflation will reach one point three seven million percent by the end of the year in a report published this morning, President Nicolas Madura height his country's minimum wage twenty four times since taking office five years ago in August. Two three thousand percents rise lift minimum wage work is on the bolivar equivalent. Of just twenty dollars a month. Global news twenty four hours a day on ended take talk on Twitter powered by more than twenty seven hundred journalists and analysts in over one hundred twenty countries. I'm Ben Clarke, this is Bloomberg USA. Thank you very much. Let's get into some of the key global stories here with volunteer. He's the global market strategist at Morgan asset management. Welcome back to the show. There's no shortage of of potent market themes to discuss and I'm looking here at the most read stories in the last hour on the Bloomberg. Most popular one is a slightest update from the IMF cutting its forecast for global growth as as they point out trade war begins to take its toll. This does that surprise you in any way in terms of the scale of some of the adjustments that they're making to the GDP expectations. No that we have seen already since cute. We data that we had the weakening of global trade. This was pretty clear for region that I cover Europe where you saw that nutritive didn't contributed as much as as in the past during Q two, which is something we're going to see a gaining key in Q free. So definitely global export volume on the dump site, which is of impacting the I m f. F grew forecast was very key that that will contribute less than than expected at the start of the year Europe, also were far from the two and a half person group that we expected that at the start of the year. So a wet expect grew photo cut by it's interesting that you mentioned about markets because one of the most notable things of this revised outlook is the IMF forecast for Turkey downgraded to zero point four percent in two thousand nineteen. How do you see that playing out the very low growth rates essentially they've taken down from four percent to zero point four percent. Yeah. I wouldn't exaggerate. Economic weight of Turkey in the global economy. So it's very minor contributor to global growth. Fetal sue leader-in-waiting, Ian, equity or bundy's actually a slightly more important in bundy's. But we'd have twenty four person inflation. With an economy struggling on those fronts, you cannot expect positive growth. Maintaining just ahead of of whether he's already a good dot com. We need to differentiate program in Turkey from the rest of them. We DC still pocket of training for resiliency neom. But true that holy EM. Universe is hit by several element at the same time trait. Tension higher hold price which delights like India, we've seen deterioration of the current-account over there China use which has to find measure to to counterbalance these trade tension with a somewhat weaker currency. But with a credit impose we should support the economy going forward. So really program Turkey are idiocy Gretic to us. And we do see a pocket of train attractiveness in emerging market, very briefly just to wrap up this point on on trade tensions that the IMF makes very clear in its report. We also have news that the Trump administration is is going to be putting out this report next week and some suspect that we could see quite a firm criticism of of China, maybe as a currency manipulator, do you think that's an on the cards at all? During its presidential campaign. Donald Trump was quite tough on China regarding currency since then we haven't discussed that topic. Duck much the Detroit that that renminbi is voting since a couple of weeks a month for ready. That baby an issue which could be race, obviously, the negotiation or two blocked at the moment. And this. Additional could be could be added to gender. All right. Stay right there. You're going to be staying with us. We go plenty more to talk about including treasury yields treasury auctions as well as Italy bounce onetravel answer global market strategist at Jp Morgan asset management is going to be staying.

Bloomberg China IMF Turkey Europe DP world Italy Brussels Bloomberg Gore Dubai Shanghai Asia chairman and CEO Markus Karlsson Donald Trump Bloomberg USA. UK
"dp world" Discussed on WAFS Biz 1190

WAFS Biz 1190

04:30 min | 1 year ago

"dp world" Discussed on WAFS Biz 1190

"Juliette Sally now for a look at the market still. Deborah. We are in the red on the Asia Pacific index for a seven session in a row, you think that would be a bit of a milestone. But in fact, it is just the longest losing streak we've seen since about a month when we saw Asian stocks down for about ten sessions in a row in September. You can see Australia and Japan leading the declines Madison was talking about that strength that you are seeing in the yen higher for a fourth session. Japanese stokes. Resuming trade after yesterday's holiday and being sold off heavily down to the tune of one point three percent. We do have Chinese and Hong Kong markets on the lunch break this hour. They actually went into that lunch break a little bit higher. So a tiny little bit of reprieve for those markets that got hit hard so badly yesterday having a look at currency markets. You are seeing a little bit of upside in some of the AM currencies, of course, have been watching the very strongly that is the renminbi non delivered before. It's yesterday the falling to that nineteen month low. So there has been quite a lot of pain coming through not just for equities. But also for other asset. It's in Asia today. Manatee yousef. Juliette tells me about the car makers the drug companies there among the specific names that are making news today. What stands out? Yes. And unfortunately, a lot of these Japanese comic is in the red. We've got quite a lot of good analysis coming through from Bloomberg intelligence warning that the likes of Honda and the likes of Toyota could say a little bit of a squeeze in their next profit out reporting season Jew to a fall in demand from the United States. Of course, all on the back of the trade tensions that you are seeing between the United States and China Toyota, they're down by three point four percent. Say cell in Sydney is off by nearly five percent there. It is falling the most in more than two years Morgan Stanley, trimming, its holdings in both CSL and cochlea and mentioned hunter as well. Also coming under pressure by over three percent in the Japanese session, if it out and have a look at some of the winners, I mentioned a little bit of a reprieve coming through in some of those Hong Kong stocks also got a reprieve coming through in Taiwan as well. Some of those I taste stocks that have been hit heavily TSMC up slightly up by about a quarter of one percent. And you're seeing these energy stocks in Hong Kong and. Also loaded the property stocks that caught yesterday coming back. So maybe a little bit of some bargain-hunting coming through there. But certainly helping to support that Hong Kong index on the lunch break Yousef. Thank you very much for that over mutually at. Let's talk about the Dubai-based DP world company. They're locked in a legal battle over a container terminal in east Africa last month that Djibouti government said it had nationalized the facility, although DP says it's a shareholder, and we'll continue to defend its rights. It criticized what it calls to put these blatant disregard for the rule of law for the very latest on this. We're here to speak with DP world chairman and CEO had been Salim. Thank you very much for coming back on the program, as you tell us, then what is the latest because you said, you're gonna do whatever you can't defend your rights legally just give us a bit of a flavor of of how things have progressed in the last couple of months. Bacopa history. We have not so. Solution. Problem. Tufted by actually taking the case to the UK called because. Is basically took two to three years of legal battle which finally decided in our favor. I'm basically. Accepted an addicted claims made by. And so when that happened I thought that the buckles over maybe misunderstanding. But then. We have been of course, approved by the government would unacceptable. Changes to the concession. So whatever they sought to change using legal system. Field. They try to take the hunt. The. Behind basically, the changes by changing the law, which. I think the media that every time they tried to do something to. Change the status quo the court ending then which is. It does.

Hong Kong Juliette Sally Asia Manatee yousef DP world Deborah United States chairman and CEO DP world company TSMC Toyota DP Madison Japan Australia China Toyota Morgan Stanley Taiwan Honda
"dp world" Discussed on WAFS Biz 1190

WAFS Biz 1190

06:38 min | 1 year ago

"dp world" Discussed on WAFS Biz 1190

"Does. What we need to know what the market needs to know is what exactly are you going to go for an arbitration? Are you confident that you can do it with the Djibouti government? That's what the market wants. We are. We are already in our petition. We did that position. So that'd be starting in you arbitration. Oh. Tradition has decided. Fever decided that this clean is has no basis. Yes. Basically, this is a battle. That will continue is gonna be illegal button. We will pursue it. With every power. We have legal. The reason we doing that is not the financial effect, which is negligible to DP world. But. This is a very important thing for Africa that African nations. Need to follow that the low rose. Needs public partnership, and we did. When you came to Djibouti is that like it was the biggest opportunity in the world. It was actually not feasible. I mean, speaking of opportunities giving your size and scope, you have a great finger on the pulse. When it comes to global trade. How are things at the moment because the data that we've seen from different parts of the world shows that it is having an impact things are beginning to slow down. Are you saying seeing the same thing with with your clients and with your operation, the market is softening we see? Slow growth in ten countries. I think these are the actions to the trade, walls, psychological, but one thing for sure is going to continue whatever China find it difficult to sell the states. They're going to be setting somewhere. I do see an. A reduction and trade, but you cannot really judge. What's happening this on these periods that we've seen because? Threat to the United States. Analysts will try to explain that. Can I ask you is? You look at the global stage that moment who has the upper hand in this trade war, China, the United States of America. I didn't. She can people look at it as as a trade war. I look at it as in these are two big economies that have been trading, and they each of them have potential advantage. And so what is happening today is you're not see doesn't appeal is being treated fairly claiming that our market is open and yet. Justification you see a justification for this renegotiation. I think the tweet. War is much Fairtrade. How can we make the fair? How do I? Balance. My. With with with with the counter here, in my opinion. The Middle East Europe and Africa accounted for about seventy percent of your revenues. I mean, considering what's happening globally in terms of economic activity. Where's the next opportunity? What are you saying in terms of expansion plans because you've got a healthy cash flow? You can do probably a bit more. Expedience? We know this business Owen. And luckily, also we have invested in language, meaning invested a lot in deport them. Both which gives us an which gave us the Bundy. So today pretend me what is next. We need to invest more in Africa and Latin America has a growth. So there are a few countries. I would say the Pacific side of Latin America, we believe has more potential. Oppportunities than the Atlantic side. I believe. Still potential nation Malaysia, I believe India, of course, has a growth despite what happened to is that the market is big the growth is high. Africa. Again, we need to penetrate more than Africa much of a slowdown. If it's all have you seen in emerging markets. We come in here day after day after day, we've talked for eight nine months about emerging markets being under pressure. Are you seeing that? And have you been wrongfooted by the currency slides in emerging markets? The. As far as the emerging markets. I think the high prices have always some of the risks that are in the market. I think is playing in this example, which is the largest growth. Today was he in Africa? The problem with that is then for suck. Is bad. If you look at. Interrupt can create. Percents. Asian is about sixty percent. Enter Europe is seventy percent why they can create together because the cost of a prospector now infrastructure needs private-public partnership. The problem with that is again governance. It's a clear example of some of the government's issues we talk a lot about oil prices as well. It's helped this part of the world. What are you using as a assumption for oil prices over the next year eighty dollars eighty five dollars? What's good for you for global trade? The ninety. Okay. Let's get one figure out if you in terms of targets be I run the numbers. He sent the talk your control the Santos. Of course. In Brazil, the target. There was one hundred million twenty-foot twenty foot containers by twenty twenty eight million at the moment. Will you make not target is not what the market can benchmark. It depends. We we put that target too because we have the capacity, but are you confident you can make that target. We we have the resources to go to one hundred if we need, but I do want to have both empty just because I went back to him you want actual delivery said Soltan.

Africa DP world Djibouti government Bundy China United States Fever Djibouti Latin America Middle East Europe Europe Fairtrade Soltan Brazil America Malaysia India seventy percent
"dp world" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:46 min | 1 year ago

"dp world" Discussed on Bloomberg Radio New York

"Gills. Deborah. We are in the red on the Asia Pacific index for a seventh session in a row, you'd think that would be a bit of a milestone, but in fact, it is just the longest losing streak we've seen since about a month when we saw Asian stocks down for about ten sessions in a row in September. You can see Australia and Japan leading the declines Madison was talking about that strength that you are seeing in the yen higher for a fourth session. Japanese stocks resuming trade after yesterday's holiday and being sold off heavily down to the tune of one point three percent. We do have Chinese and Hong Kong markets on the lunch break this hour. They actually went into that lunch break a little bit higher. So a tiny little bit of reprieve for those markets that got hit hard so badly yesterday having a look at currency markets. You are seeing a little bit upside in some of the AM currencies, of course, been watching the very strongly that is the renminbi non deliverable forwards. But yesterday the one falling to that nineteen month low. So there has been quite a lot of pain coming through not just for equities. But also for other asset. It's in Asia today. Manatee yousef. Talk to me about the car makers, the drug companies there among the specific names that are making news today. What stands out? Yes. And unfortunately, a lot of these Japanese comic is in the red. We've got quite a lot of good analysis coming through from Bloomberg intelligence warning that the likes of Honda and the likes of Toyota could say a little bit of a squeeze in their next profit reporting season Jew to fall in demand from the United States. Of course, all on the back of the trade tensions that you are seeing between the United States and China Toyota, they're down by three point four percent. CSL in Sydney is off by nearly five percent there. It is fooling the most in more than two years Morgan Stanley, trimming, its holdings invites CSL and cochlea, and I mentioned hunter as well. Also coming under pressure off by over three percent in the Japanese session. If we switch it out and have a look at some of the winners. I mentioned a little bit of a reprieve coming through in some of those Hong Kong stocks. You've also got a reprieve coming through in Taiwan as well. Some of those I taste oaks that have been hit heavily Hodson TSMC up slightly up by about a quarter of one percent. And you're saying these energy stocks in Hong Kong and. Also the property stocks that caught yesterday coming back, so maybe a little bit of some bargain-hunting coming through there. But certainly helping to support that Hong Kong index on the lunch break Yousef. Thank you very much for that. Overview? Juliette? Let's talk about the debased DP world company. They're locked in a legal battle over a container terminal in east Africa last month that Djibouti government said they'd had nationalized the facility or the DP says it's a shareholder, and we'll continue to defend its rights. It criticized what it calls to these blatant disregard for the rule of law for the very latest on this. We're here to speak with the DP world chairman and CEO so done laying. Thank you very much for coming back on the program. Tell us then what is the latest because you said, you're gonna do whatever you can't defend your rights legally just give us a bit of a flavor of of how things have progressed in the last couple of months. Bacopa history. We have not so. Legal solution. Problem. Started by actually taking the case to the UK courts because. Is basically. Took two to three years of legal battle which finally the core decided in our favor and basically. Accepted. I'm addicted older claims made by. And so when that happened I thought that the is over maybe misunderstanding. But then. The.

Hong Kong Manatee yousef Asia DP world Deborah United States chairman and CEO DP world company renminbi Toyota Hodson TSMC Madison Taiwan Japan China Toyota Australia Morgan Stanley Honda
"dp world" Discussed on WAFS Biz 1190

WAFS Biz 1190

04:27 min | 1 year ago

"dp world" Discussed on WAFS Biz 1190

"Saly now for a look at the markets gills. Deborah. We are in the red on the Asia Pacific index for a seven session in a row, you'd think that would be a bit of a milestone, but in fact, it is just the longest losing streak we've seen since about a month when we saw Asian stocks down for about ten sessions in a row in September. You can see Australia and Japan leading the declines Mattis was talking about that strength that you are seeing in the yen higher for a fourth session. Japanese stokes. Resuming trade after yesterday's holiday and being sold off quite heavily down to the tune of one point three percent. We do have Chinese and Hong Kong markets on the lunch break this hour. They actually went into that lunch break a little bit higher. So a tiny little bit of reprieve for those markets that got hit hard so badly yesterday having a look at currency markets. You are seeing a little bit of upside in some of the AM currencies, of course, have been watching the very strongly that is the renminbi non deliverable forwards. But yesterday the one falling to that nineteen month low. So there has been quite a lot of pain coming through not just for equities. But also for other asset. It's in Asia today. Mattis yousef. Talk to me about the car makers, the drug companies there among the specific names that are making news today. What stands out? Yes. And unfortunately, a lot of these Japanese comic is in the red. We've got quite a lot of good analysis coming through from Bloomberg intelligence warning that the likes of Honda and the likes of Toyota quit say a little bit of a squeeze in their next profit reporting season Jew to a fall in demand from the United States. Of course, all on the back of the trade tensions that you are saying between the United States and China Toyota, they're down by three point four percent. CSL in Sydney is off by nearly five percent there. It is falling the most in more than two years Morgan Stanley, trimming its holdings in both CSL and cochlea, and I mentioned hundreds well also coming under pressure over three percent in the Japanese session. If we switch it out and have a look at some of the winners. I mentioned a little bit of a reprieve coming through in some of those Hong Kong stocks. You've also got a reprieve coming through in Taiwan as well. Some of those I taste stocks that have been hit heavily Hodson TSMC up slightly up by about a quarter of one percent. And you're saying these energy stocks in Hong Kong and. Also a lot of the property stocks that got hit yesterday coming back. So maybe a little bit of some bargain-hunting coming through there. But certainly helping to support that Hong Kong index on the lunch break Yousef. Thank you very much for that overview. Juliet, let's talk about the Dubai-based DP world company. They're locked in a legal battle over a container terminal in east Africa last month. Djibouti government said it had nationalized the facility, although DP says it's a shareholder, and we'll continue to defend its rights. It criticized what it calls to put these latent disregard for the rule of law for the very latest on this. We're here to speak with DP world chairman and CEO William thank you very much for coming back on the program. Tell us then what is the latest because you said, you're gonna do whatever you can't defend your rights legally just give us a bit of a flavor of of how things have progressed in the last couple of months. Bacopa history. We have not so. Legal solution. Top problem started by actually taking the case to the courts because. Session is basically. Two to three years of legal battle which finally the core decided in our favor and basically. Accepted. I'm addicted all the claims made by. And so when that happened I thought that maybe misunderstanding. But then. The we have been of course, approved by the government, wouldn't it. Unacceptable. Changes to the concession. So whatever they sought to change using the legal system. Field. They try to take the hand the hand, basically. The changes by changing their low which. I you gene in the media that every time they tried to do something to. Change the status quo the court. Any?.

Hong Kong Mattis yousef Asia Djibouti government United States Deborah DP world chairman and CEO DP world company DP Hodson TSMC Toyota Taiwan Japan renminbi Morgan Stanley Australia China Toyota
"dp world" Discussed on WAFS Biz 1190

WAFS Biz 1190

03:43 min | 2 years ago

"dp world" Discussed on WAFS Biz 1190

"Keep us we would still maintain a position in petrochemicals we also had some numbers out, from e mails from from and probably. Giving some context to earning season that some, are actually quite anxious about to say the. Least because of a lack of economic momentum in in the US economy in the last few quarters Again. We're looking, at some of the best performing large amid caps in, the UAE and I'm looking here at first Abu Dhabi Bank, DP world Emirates integrated to the conditions of Dubai investments best before so the last three, months are those the names that. You would say yeah those names to watch. Out for is it more of selective company by company game or is it more of a sector game here see when you come down to the UAE is really lacking a catalyst from valuations point of view it's one of the most attractive place right now Banks trading between six to nine times. Earnings that's that's a screaming by at any time No, in terms of, innings itself banks have been coming out with strong. Numbers where we've struggled and you know the. Local exchanges are very heavy on real estate. That's the sector which is way, down Emaar it's, the twenty percent done for the year. The numbers coming up for malls as they said we looking for something a cutlass together we obviously had come out and talk about sort of. Potentially laying all sort of offloading some of their non-core assets on the medical schools side now that would free up capital for them to focus on the call business speaking to one of the guys from from. From what the heavyweight institutional investors in Saudi And they were pointing to the price to, earnings ratio for some of these companies and we've put together a chart GT gore funds could pull this. Up this is this is, a classic because it shows you what's been happening with. The Dubai index and you compare that to the Dowell. On a twelve month forward p basis entered the embassy emerging market index story tells is that the Dowell close to fifteen is, the. Most expensive out, of, this and to buy is, almost half of that at around eight how do you reconcile, that something is, off so so they're on the face of it. If if it take both in intern Saudi. Starts to start looking expensive on the AM. Side but then don't forget this, issue of the, as well and the the massive inflow. Of foreign foreign funds and at the same time the markets opening up to foreigners for the first time so you would expect it to shoot. A little bit it's the same story that we saw into buys the same story that we saw in Qatar when they opened up the inclusion so so the south Thing doesn't worry me as much in fact I would. Think Saudi gets a lot, more expensive before before the June implementation date we may. Get some sort of profit taking post post even on. The other hand completely agree with you starting to look very very cheap the concerns around the by have been where is the, economic capitalists coming from I do think the boys do. For for a bit of a rally a thing we were discussing this earlier? With. Philippe, as well if you look at Emaar. Emaar stock had fallen. All the way down to just under five now it's really nicely up from there to. About five twenty five five thirty kind of levels but, it is still down big time for the year so this the you could see definite repayment play. Out of Saudi into, you yes well we'll see. How it, all plays out you're still sticking around we still have a few key views to. Get through someone is staying on the program let's get, you preview actually what is coming up next we look at what the, latest data. From.

Emaar Dowell Dubai UAE US Abu Dhabi Bank DP world Emirates Qatar intern Philippe twenty percent twelve month
"dp world" Discussed on WAFS Biz 1190

WAFS Biz 1190

02:00 min | 2 years ago

"dp world" Discussed on WAFS Biz 1190

"Recap of some of the regional equity markets feared was an interesting picture he had a lot of downside pressure coming from drake at skull down another nine point nine percent but still dubai managed to close higher up three tenths of one percent on strong volume zero hundred seventy percent of the three months average was a bit of downside in abu dhabi and saudi arabia lenders in focus in the kingdom overall the dow was down half of one percent also look out for dp world but on the week for their that stock down two point five percents second now on the latest business headlines with beverage shares size more than seven percent in new york that's after bloomberg reported that the company is pausing some production this week to allow for some basic maintenance and upkeep meanwhile and analysts at bernstein has questions has less claims that model three cars made on a tenth covered production line of the same quality as those laid inside the plant i was once the richest man in brazil has been sentenced to thirty years in prison in connection with the so called car wash corruption investigation batista was convicted of paying more than sixteen million dollars of the former governor of rio de janeiro to facilitate contracts with the state government is currently under house arrest and plans to appeal pride hailers kareem an uber are said to be an early talks to combine their middle east operations to resolve hasley rivalry for told they're discussing a number of options without reaching agreement uber has offloaded operations in southeast asia russia and china sources say at wants to own at least half of any combined company or by korean outright a way of new york is slowing down us stock trades high humidity is impeding radio transmissions meaning it's taking an extra eight seconds or so to send information from nasdaq's facility to the new york stock exchange data.

southeast asia rio de janeiro saudi arabia dubai china russia batista brazil bernstein bloomberg new york dp world abu dhabi one percent zero hundred seventy percent
"dp world" Discussed on WAFS Biz 1190

WAFS Biz 1190

01:31 min | 2 years ago

"dp world" Discussed on WAFS Biz 1190

"Because you have india india china and big consumers and they will not stop to consume because people also tend to go to crisis and we had like foot of crisis right now look at look at on the on the rest of the world so on mr trump doesn't the commodities that you mentioned there in terms of wanting to invest is that is just a very longer term view in terms of moving into commodities had to convince my mom you know in the beginning but it's been a very good investment for me you know i recently sold a portion of my russian shares really now in latin america and eastern here i found out something very peculiar about this gold mining and it's a fine one is that i found out that there are no businessmen on the boards of these companies mostly my nervous and bankers the price will always go out no it's a businessman has a touch you know as a commercial dot she has some vision and some imagination that he brings to a board like that if you have bankers how much is at threat of a global trade war worrying the ceo of dp world we hear from the head of the global container terminals operator next this is bloomberg.

mr trump latin america ceo dp world bloomberg india india china
"dp world" Discussed on Geek News Central

Geek News Central

01:47 min | 2 years ago

"dp world" Discussed on Geek News Central

"So of course this is a sub or roll launch system and but we're we're going to see where they go here but good job the blue origin we might be seeing a true space race if they can get kinda get caught up to to spacex awesome a little bit of a non shocker here a cambric analytica scandals also a tapped twitter data's well but twitter says well our data's public anyway people tweet publicly there's no privacy on twitter so what's the big deal essentially because twitter does sell access to their search data providing up to sixty five different data points per tweet which is pretty shocking if you think about it but cambridge analytical did have access to twitter data for about six months hyperloop one and dp world are launching a cargo only shipping business so you know we're still in the planning stages here but yet folks are already talking about you know different business models for this thing so they're looking to build a hyperloop enabled cargo system to transfer peleton's cargo it's not much of a departure from the hyperloop one is always said it would do but the new company would responsible for making it work the world which already invest in hyperloop one is a dubai base port owner that controls terminals over the world has holdings on major freight routes in asia africa middle east it would gain a lot of fast transit network of its own so anyway they just kind started digging.

twitter dp world asia dubai six months
"dp world" Discussed on Geek News Central Audio

Geek News Central Audio

01:47 min | 2 years ago

"dp world" Discussed on Geek News Central Audio

"So of course this is a sub or roll launch system and but we're we're going to see where they go here but good job the blue origin we might be seeing a true space race if they can get kinda get caught up to to spacex awesome a little bit of a non shocker here a cambric analytica scandals also a tapped twitter data's well but twitter says well our data's public anyway people tweet publicly there's no privacy on twitter so what's the big deal essentially because twitter does sell access to their search data providing up to sixty five different data points per tweet which is pretty shocking if you think about it but cambridge analytical did have access to twitter data for about six months hyperloop one and dp world are launching a cargo only shipping business so you know we're still in the planning stages here but yet folks are already talking about you know different business models for this thing so they're looking to build a hyperloop enabled cargo system to transfer peleton's cargo it's not much of a departure from the hyperloop one is always said it would do but the new company would responsible for making it work the world which already invest in hyperloop one is a dubai base port owner that controls terminals over the world has holdings on major freight routes in asia africa middle east it would gain a lot of fast transit network of its own so anyway they just kind started digging.

twitter dp world asia dubai six months
"dp world" Discussed on KCBS All News

KCBS All News

02:10 min | 2 years ago

"dp world" Discussed on KCBS All News

"The santa clara county jail as kcbs as mad bigler reports live from san jose this morning the inmates decided to end their hunger strike after being given assurances that they're grievances would be listened to matt good morning susan as some two hundred prisoners gave up eating inside the santa clara county jail outside family members rallied to support them leave you say the strike was finally called off after eleven days with the prisoners declaring victory over some small issues including out of cell time and sanitation this is an inmate spokesperson for prisoners united coaching here's will be made in order to ensure the more floor population will receive it's more hours of autumn sell time every other day would not have any priors to our audio from silicon valley debugged this was the third hunger strike at the jail since two thousand sixteen a spokesperson for the sheriff's department tells the mercury news there was snow negotiating with inmates they are simply enforcing existing rules live in san jose matt bigler kcbs thanks mad british billionaire sir richard branson is forecasting human travel via a hyperloop within three years his comments coming after the announcement of a joint venture between his company virgin hyperloop one and the dubai based company dp world that partnership aimed at developing hyperloop technology to haul cargo a natural fit for dp world because it operates major shipping ports around the world still not exactly clear where the first cargo hyperloop would be built to say nothing of a location for a hyperloop system to haul human as many as nine small earthquakes hit the danville area yesterday and this morning the us geological survey says the latest was a three point three quake that struck at four fifty five this morning most of these earthquakes happened yesterday no injuries or any damage has been reported kcbs news time eight hundred tiffany haddish and use groupon so much they made me to spokesperson this mother's day group on the change the mom look you know the look you get when mom says i'm just disappointed with groupon you can change the mom look something she actually wants this mother's day time.

san jose susan richard branson dubai dp world groupon santa clara county matt bigler danville eleven days three years
"dp world" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:00 min | 2 years ago

"dp world" Discussed on Bloomberg Radio New York

"We cannot deny that you have four rate hikes we cannot deny that we're gonna have the balance sheet normalization even though the normalization is gonna be well telegraphed and we know about it it's twenty billion per quarter leaving us at sixty by year end but bottom line the liquidity is drawn out of the market right the fourth factor would be the ecb tapering that is also causing a drug so how far can this go i think this we still have value militia has good fundamentals and it has improved but i think that the upside from here is quite limited right so we have seen a lot of emerging market issuers taking advantage of liquidity investor appetite by issue extremely longterm debt which is great for them because it means they're rollover risk is reduced but potentially bad for investors who now have duration risk to worry about two thousand eighteen is all about jewish duration management is going to be key for the return management because especially the yield curve is flat so as we said earlier i think three percent rinks more sense in terms of the unusual to three ten is a good range but i would keep an eye on the rate because of the flatness of the group i mean the thirty versus two is at sixty seven basis points especially that inflation signs are there the year on your core is around two percent and and also the all the fiscal stimulus is inflationary right what about corporates in the gulf i mean you mentioned is cd there's also dp world which was a bit of a highlight in the first quarter with the shifting environment of riot rising oil prices but also rising interest rates around the world who's who's who's vulnerable in this equation i mean rising all as you said it's a tradeoff but i mean the corporates are good fundamentally they've they've they're off the lows and they have good access to capital still we've seen a flood of supply that was well digested in the market so i think that's supply can stand come and it can be easily they trusted so we've been talking a lot about.

dp world ecb three percent two percent
"dp world" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:07 min | 2 years ago

"dp world" Discussed on Bloomberg Radio New York

"Emirati foreign policy activist let me tell you we are a company that is in the business of cargo around the world what were you doing in is in relation to european intention to ensure that this landlocked country has access to ports and every statement you always said that the rally board is important will continue about about a compliment what is djibouti with over one hundred million people with the growth of twenty percent single port is able to support so we as a dp would we're not talking about politics we talk about the facilities to provide to ensure that category this is part of what we do anyone very briefly understand that you've been in talks to buy sick of the russian ship professed goal what are you likely to reach a deal what's what's the state of play there were we have been looking at the market we been in russia seven years ago which basically we had a minority in a portends jesse and doc which we sold we get in we are investment fund and fiscal is one of the company we'd been looking at we like it because it has only has done this petition to leak no no no still under negotiation but there are certain emissions we need from the russian government which as soon as that is done could be all right well sultan othman bin sulayem dp world group chairman and ceo thank you so much for your time so lovely having him on us because it always feels like we're traveling around the world conversation let's see if we have what's up next up next paling from brazil is deutchebanks about to pull the plug on its investment bank unit in the south american country this is bloomberg matter how much you love your office sometimes you need to be elsewhere where is the business fortunately there's bloomberg with over twenty seven hundred journalists and analysts in more than one hundred twenty countries what does it take for these european banks we're talking about buying power of about thirteen point nine trillion dollars to not only do we cover elsewhere you can get us just about anywhere they've had some great home runs bloomberg radio the bloomberg radio plus app and bloombergradio dot com to be a successful entrepreneur the expertise of the best and most prosperous entrepreneurs is a big advantage in think bigger real estate developer michael sonnenfeldt reaches out to his network of entrepreneurs and.

russian government group chairman brazil djibouti russia jesse sultan othman dp world ceo bloomberg michael sonnenfeldt nine trillion dollars twenty percent seven years
"dp world" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:43 min | 2 years ago

"dp world" Discussed on WNYC 93.9 FM

"Of live animals to the gulf every year landlocked ethiopia is also involved with a nineteen percent stake it sees barbara as a key alternative to the congested expensive port in djibouti which is currently it's only outlet but some malia still regard somaliland as part of its territory and earlier this month parliament in mogadishu voted to nullify the deal this didn't seem to worry dp world and somaliland too much they probably know that in practice the authority of the somali federal government doesn't extend far beyond mogadishu itself but it's easy to understand why somalia's concerned not only has a breakaway republic signed significant economic and military agreements with a foreign power but the uae is also bypassing the federal government by striking deals with somalia's regional states such jubilant and puntland these five states have a fractious relationship with central government and with each other it's a legacy of the chaos which the malia fell into around the time of the overthrow of mohamed berry in nineteen ninetyone chaos it still hasn't totally emerged from some of the regional states have received military training equipment and funding from the emirates dp world and its subsidiaries are also negotiating deals to manage a string of ports in at least three of them the situation is different in the capital mogadishu as you fly in low over the turquoise sea to the airport stretch along the beachfront is a vast turkish base it said to be its largest military training facility outside turkey mogadishu's lucrative port but she used to be fought over by warlords is now run by a turkish company in the teashops on the streets outside people gossip about the government which came to power in twenty seventeen when they talk about how qatar provided funds for political bribery and how some of the most powerful people in the administration a close to the qataris the somali government has been put in a difficult position it owes allegiance to qatar and turkey but it's key trading partners saudi arabia in the ua on the other side of the gulf divide somalia itself insists it holds a neutral position in the gulf crisis but it's regional states have played havoc with its diplomacy by declaring their support for the saudis and the uae and there are fears that the gulf crisis could cause problems well beyond so malia one expert says it could deepen fractious across the whole region with states trampling across.

uae turkey emirates dp world puntland saudi arabia bribery qatar mogadishu mohamed berry ethiopia somalia somali federal government dp world malia djibouti barbara nineteen percent
"dp world" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:25 min | 2 years ago

"dp world" Discussed on WNYC 93.9 FM

"A sydney finds a bollandbranch this project let's see how it plays they talking about a two year construction periods of phase two hundred fifty million us dollars put in apparently it's a city concession twenty years that option there at sydney longterm played by by by by the by and as you say they risk i mean to me the potential contested project longer term of course unlocking sizeable markets in to the congo into the incident of the country infrastructure this part of the world in inflation if it infrastructures so that and of course the country nagina maybe seventy eighty nine hundred million people shouldn't need access to to to to port the challenges of course is that the political risk involve risk currently makanga any long term infrastructure play in the congress particularly now is risky how will we get i think the next year or so tax perhaps the next six months is the harvest to play out in life of political pending makanga with very interesting to watch do we know what the balance would be between the congolese government whatever that government is in the coming years and dp world's the debate based based companies well how do these joint ventures usually workout in terms of who owns what typical hit tpp public private partnership tuck arrangement i think it'd been reports that sixty percent would be halved by the external party i d pm this case and forty percent by the government of the private company on the company's front as well d pizzas and testing operates of boats we all know that and kelly trained i've seen in recent years port authority of singapore psa hong kong ports and now dp what the the the sort of city states if you will being very very efficient ports have been seeking management contracts of posts along the coast areas of africa with their importance is is kind of obvious to anyone who looks at a map but what's interesting is i gather that china had a plan to do it and then decided they couldn't make money now if you if you look at the amount of infrastructure money the china putting in it's been massive it's also based on returns shouldn't think twice if you see that the chinese couldn't make it work why will do by make it work.

sydney congo congress congolese government dp world kelly china singapore africa forty percent sixty percent twenty years six months two year
"dp world" Discussed on The Skylines Podcast

The Skylines Podcast

02:09 min | 2 years ago

"dp world" Discussed on The Skylines Podcast

"And the main bull plan walls to kind of flatten them into submission which is not dissimilar to what's happening in syria and other places in the middle east at the moment so to take us to actually have a common wall plan which is a side perimeter how to places okay let's it is it's it's act doesn't it like damascus because he was hit against a month get that sarah jiji sudden trout off backs is one of those things i kind of have nerve friend of mine my stand the response to my strings to kind of like oh make a joke and move on it's really difficult to come to work out how to do that when we're talking about internet site yeah it's it's kind of a difficult thing to kind of be snarky about without snow aci and i am nothing but the thing i find interesting about the reason i gotta go go quite interesting they story of nine interesting us molly mandates it broke away since when it's been pretty successful right like it's it's it's functional in a way the somalia which is still quite will tool he's not yet and yet it's still not officially recognised as a country by truly anybody no it's not einsatz the old us to to you with the fact that went somalia on some island join together us to entity that was the republic of somalia thereby accounts became merged so a lot of the whole thing right now is is about separating the finances of a divorce which is always quite difficult to do but i am yet hasn't been recognized but they be risks as will so somalia has been under trusteeship since it's basically government fell officially founded 1993 i'm before that it was all to do we like to know proxy wars of america over clinton trying to pull the people in power and a listening so small on it's been independent since nights one it's hides election this has its own currency has its own borders has old police it has his own passport stands immigration this station dp world which is to buy out you're not emirates m massive cobra entity has us the property found supposedly fund and also like no shipping all that stuff has just signed a multimillion pound contract.

syria damascus internet site somalia america clinton dp world sarah jiji