18 Burst results for "Sheik Muhammad"
Monocle 24: The Globalist
"sheik muhammad" Discussed on Monocle 24: The Globalist
"At 7 45 here in London at its time to head to Dubai now as we find out what's been making headlines in the United Arab Emirates with Mustafa Al rawi, a journalist and assistant editor in chief at the national welcome back to the globalist and Mustafa. And first of all, something I was actually talking to monocles editor in chief Andrew tuck about yesterday, a Russian influx drives up rental prices in Dubai. Morning guy, how are you? Very, very good. But the question is, could I actually afford to rent in Dubai anymore? That is a good question. I think a lot of people are asking themselves that at the moment whether they're planning to move here, which is a lot of people, whether from Russia or elsewhere, also people who are living here. If we look at the data beyond the anecdotal evidence that I think we've all experienced and heard about, according to CBRE, in the year to February of this year, rents in Dubai have increased by 27.7%. So that's quite a rise in the 12 month period, which shows that there is a lot of froth in the market at the moment. And you mentioned Russians obviously since the Ukraine invasion in February of 2022, there was a lot of upheaval, a lot of Russians decided to leave Russia or other countries. And many settled here in the UAE, both in Dubai, Abu Dhabi and elsewhere. And that's clear. You can see that. Now I wonder if it's just Russians pushing up rents. I'm not sure that one group can do that on their own. Certainly, again, anecdotally, I'm hearing that people from all over the world, even the UK are looking to move here as well at the moment. And that's partly because there's instability, concerns, economic malaise elsewhere, while the UAE Dubai is looking pretty good at the moment, guys. Yeah, I know that Belgrade, which is on my usual patch in the western Balkans has been an influx of Russian people in Belgrade as well and anecdotally, as you say, the word is that rents have gone up considerably there. So I guess maybe I didn't know what the housing stock is like in Dubai Mustafa. Maybe there's supply and demand in the demands gone up in the supplies and that great. It's funny because not long ago it was the complete opposite. There was a lot of supply. And in fact, if you look at property prices in the last decade, the peak was around 2014. Even the property prices themselves have gone up as well. I think we've seen where the market has actually been even higher than it is now. And maybe we're heading that way to fresh decade peaks. But there is a lot of supply. There's a lot of building going on. I mean, it's interesting because yes, there's a lot of headlines around apartments and villas on the palm genera, for example, fetching tens, if not hundreds of millions. But also out in sort of the new suburban areas. You can pick up a villa for around 2 million their house at the moment as well. So there's a lot of opportunity for first time buyers as well as the mega wealthy that are coming here. It's quite in Dubai specifically. It's quite a deep market with lots of different options. And then you have a lot of spillover in the northern Emirates, for example, in Sharjah, where rents are a little bit cheaper, although there's a knock on effect. So it's a big, big marketplace. But again, if you want to live in sort of the center of Dubai, like in any major city around the world, you're seeing a big rise in costs. Let's go to a story in your own paper, the national president Sheik Muhammad names UAE vice president and crown prince of Abu Dhabi sounds like a big deal. It is a very big story. So Sheik Muhammad became president just under a year ago after his older brother chef halifa passed away and when he was appointed president in the federal system, of course he also became ruler of Abu Dhabi, when he became president there was a lot of question marks about what would happen for succession, going forward. This is a big topic in the gulf in general, not just in the UAE. And immediately after shake the hand became present, people started talking about who might be crown prince of Abu Dhabi. And Sheik Mansour bin Zayed, his younger brother, who has been appointed vice president of the UAE. The second vice president, along with the Dubai ruler and prime minister shake Muhammad bin Rashid, was kind of seen as a likely crowd prince. Also seen as a likely crown prince was Sheik Muhammad's shouldn't have been ziya's eldest son Sheik Khalid, who is also in this new has been appointed crown prince of Abu Dhabi. So for those listening to recap because I think this will be a lot of quite similar names, which will give you suddenly flooding upon me there. Exactly. So I'll explain it again. So we have an additional vice president of the UAE who is Sheik Mansour bin Zayed, who is the younger brother of Sheik Muhammad bin Zayed, the president of the country. So is also very well known as an investor as a businessman and owner of Manchester City football club. And then the other major appointment, there were other points, of course, but the other major one that everyone was looking to for the past year was who would be crown prince of Abu Dhabi and that is shake Muhammad bin Zayed's son Sheik Khaled. And that's an important appointment for succession going forward, but also for everybody understanding what the political landscape looks like and then there's obviously a connection with the economic landscape. This all encourages greater stability that these appointments have been resolved. And the interesting thing is that as Sheik Mansour being appointed as an additional vice president, he has a connection with Dubai. He's not just an Abu Dhabi big name. He's also married to the daughter of the ruler of Dubai, who's who was vice president as well on prime minister sheep Muhammad had been Rashid. So it kind of tightens the federation as well with this appointment. So it's very interesting and perhaps a little bit of a surprise because people thought the only appointment that was coming was crown prince, the only major one of Abu Dhabi. And now we've had two in the same evening. So a lot of people will be talking about that today. And just briefly Mustafa, we've also got a story in the national sultan Al naadi gets his first haircut in space, and as a proudly under the banner, UAE in space that you have. How many astronauts does the UAE have? What currently sultan on the Addy is the second astronaut in space. He's on a long-term mission at the International Space Station. I think it's for 6 months. But before that, the UAE already had its first astronaut. But it's part of a wider push on space, not just in terms of getting men out there, but there's a probe about to land on Mars or on its way to Mars. Sorry, there was a probe that went to Mars in orbit of Mars and we're about to have a lander on the moon. Very shortly as well. So very much the UAE wants to be at the forefront of space. But again, this is, this is a gulf wide thing in this region. Many of the other economies also want to push into space, looking for how it will improve technology, sustainability, economic sentiment as well. So a nice story for Satan and the he's been talking to students from space. He's now had his hair cut in space. He's keeping us posted on what life is like orbiting earth. So long haul airlines aren't enough for the UAE. You want to dominate space as well. Absolutely. Absolutely. Thank you very much for joining us. Mustafa Al rawi. You're with the globalist on monocle 24. The entrepreneurs is monocles 30 minute weekly conversation with inspiring company founders, uncovering the secrets of growing a great business and discussing the many pathways and definitions of success. I think in your standard entrepreneurial journey, there's a lot of times when you might want to throw in the towel, but if impact is really at the heart of what you do, you don't have that option. You have to stick to your guns. We're
Monocle 24: The Globalist
"sheik muhammad" Discussed on Monocle 24: The Globalist
"At 7 45 here in London at its time to head to Dubai now as we find out what's been making headlines in the United Arab Emirates with Mustafa Al rawi, a journalist and assistant editor in chief at the national welcome back to the globalist and Mustafa. And first of all, something I was actually talking to monocles editor in chief Andrew tuck about yesterday, a Russian influx drives up rental prices in Dubai. Morning guy, how are you? Very, very good. But the question is, could I actually afford to rent in Dubai anymore? That is a good question. I think a lot of people are asking themselves that at the moment whether they're planning to move here, which is a lot of people, whether from Russia or elsewhere, also people who are living here. If we look at the data beyond the anecdotal evidence that I think we've all experienced and heard about, according to CBRE, in the year to February of this year, rents in Dubai have increased by 27.7%. So that's quite a rise in the 12 month period, which shows that there is a lot of froth in the market at the moment. And you mentioned Russians obviously since the Ukraine invasion in February of 2022, there was a lot of upheaval, a lot of Russians decided to leave Russia or other countries. And many settled here in the UAE, both in Dubai, Abu Dhabi and elsewhere. And that's clear. You can see that. Now I wonder if it's just Russians pushing up rents. I'm not sure that one group can do that on their own. Certainly, again, anecdotally, I'm hearing that people from all over the world, even the UK are looking to move here as well at the moment. And that's partly because there's instability, concerns, economic malaise elsewhere, while the UAE Dubai is looking pretty good at the moment, guys. Yeah, I know that Belgrade, which is on my usual patch in the western Balkans has been an influx of Russian people in Belgrade as well and anecdotally, as you say, the word is that rents have gone up considerably there. So I guess maybe I didn't know what the housing stock is like in Dubai Mustafa. Maybe there's supply and demand in the demands gone up in the supplies and that great. It's funny because not long ago it was the complete opposite. There was a lot of supply. And in fact, if you look at property prices in the last decade, the peak was around 2014. Even the property prices themselves have gone up as well. I think we've seen where the market has actually been even higher than it is now. And maybe we're heading that way to fresh decade peaks. But there is a lot of supply. There's a lot of building going on. I mean, it's interesting because yes, there's a lot of headlines around apartments and villas on the palm genera, for example, fetching tens, if not hundreds of millions. But also out in sort of the new suburban areas. You can pick up a villa for around 2 million their house at the moment as well. So there's a lot of opportunity for first time buyers as well as the mega wealthy that are coming here. It's quite in Dubai specifically. It's quite a deep market with lots of different options. And then you have a lot of spillover in the northern Emirates, for example, in Sharjah, where rents are a little bit cheaper, although there's a knock on effect. So it's a big, big marketplace. But again, if you want to live in sort of the center of Dubai, like in any major city around the world, you're seeing a big rise in costs. Let's go to a story in your own paper, the national president Sheik Muhammad names UAE vice president and crown prince of Abu Dhabi sounds like a big deal. It is a very big story. So Sheik Muhammad became president just under a year ago after his older brother chef halifa passed away and when he was appointed president in the federal system, of course he also became ruler of Abu Dhabi, when he became president there was a lot of question marks about what would happen for succession, going forward. This is a big topic in the gulf in general, not just in the UAE. And immediately after shake the hand became present, people started talking about who might be crown prince of Abu Dhabi. And Sheik Mansour bin Zayed, his younger brother, who has been appointed vice president of the UAE. The second vice president, along with the Dubai ruler and prime minister shake Muhammad bin Rashid, was kind of seen as a likely crowd prince. Also seen as a likely crown prince was Sheik Muhammad's shouldn't have been ziya's eldest son Sheik Khalid, who is also in this new has been appointed crown prince of Abu Dhabi. So for those listening to recap because I think this will be a lot of quite similar names, which will give you suddenly flooding upon me there. Exactly. So I'll explain it again. So we have an additional vice president of the UAE who is Sheik Mansour bin Zayed, who is the younger brother of Sheik Muhammad bin Zayed, the president of the country. So is also very well known as an investor as a businessman and owner of Manchester City football club. And then the other major appointment, there were other points, of course, but the other major one that everyone was looking to for the past year was who would be crown prince of Abu Dhabi and that is shake Muhammad bin Zayed's son Sheik Khaled. And that's an important appointment for succession going forward, but also for everybody understanding what the political landscape looks like and then there's obviously a connection with the economic landscape. This all encourages greater stability that these appointments have been resolved. And the interesting thing is that as Sheik Mansour being appointed as an additional vice president, he has a connection with Dubai. He's not just an Abu Dhabi big name. He's also married to the daughter of the ruler of Dubai, who's who was vice president as well on prime minister sheep Muhammad had been Rashid. So it kind of tightens the federation as well with this appointment. So it's very interesting and perhaps a little bit of a surprise because people thought the only appointment that was coming was crown prince, the only major one of Abu Dhabi. And now we've had two in the same evening. So a lot of people will be talking about that today. And just briefly Mustafa, we've also got a story in the national sultan Al naadi gets his first haircut in space, and as a proudly under the banner, UAE in space that you have. How many astronauts does the UAE have? What currently sultan on the Addy is the second astronaut in space. He's on a long-term mission at the International Space Station. I think it's for 6 months. But before that, the UAE already had its first astronaut. But it's part of a wider push on space, not just in terms of getting men out there, but there's a probe about to land on Mars or on its way to Mars. Sorry, there was a probe that went to Mars in orbit of Mars and we're about to have a lander on the moon. Very shortly as well. So very much the UAE wants to be at the forefront of space. But again, this is, this is a gulf wide thing in this region. Many of the other economies also want to push into space, looking for how it will improve technology, sustainability, economic sentiment as well. So a nice story for Satan and the he's been talking to students from space. He's now had his hair cut in space. He's keeping us posted on what life is like orbiting earth. So long haul airlines aren't enough for the UAE. You want to dominate space as well. Absolutely. Absolutely. Thank you very much for joining us. Mustafa Al rawi. You're with the globalist on monocle 24. The entrepreneurs is monocles 30 minute weekly conversation with inspiring company founders, uncovering the secrets of growing a great business and discussing the many pathways and definitions of success. I think in your standard entrepreneurial journey, there's a lot of times when you might want to throw in the towel, but if impact is really at the heart of what you do, you don't have that option. You have to stick to your guns. We're
Game of Crimes
"sheik muhammad" Discussed on Game of Crimes
"Answering. But it sounds like a lot of it's kind of like, look, it was like when we talked to Ed Davis, Davis is a friend of mine who was the commissioner of the Boston police. We talked about the Boston Marathon bombings. And he said there are still people that need to be held to account basically in Boston. There's other people. Have we do you feel comfortable even after the 9 11 commission report do you feel like we've discovered everything we could have or was there still stuff out of 9 11 that we should still be concerned about here in the U.S.? I think we would be naive to think that there isn't something else out there. I mean, there were a lot of weeds that there were so many leads that were because of the volume we're going ignored. You had two different things. We had the investigation of the people responsible and anybody that they came in contact with. And then probably on a much greater level, you had all of the phone calls coming in to the bureau office, I think my neighbor might be Muslim. And so I'm worried about that. You know, just crazy, crazy calls that were coming in that were unrelated, but you couldn't ignore them. You had to do a triage so they developed a sort of a triage type protocol to go through these different things. And the phones rang nonstop. I walked by that phone center. I couldn't believe the tips that were coming in. Bravo to the public for actually jumping in and be willing to help law enforcement, but I have to say that 99% of it was just white noise. You had to filter through it to find out anything that was of substance. But the one story you guys might sort of get a kick out of is that we saw an increased flurry of activity on all of the cell phones just prior to the 4th of July holiday. Leading up to the 4th of July holiday. And it was really interesting. So what we would do is we would develop leads and we would send teams of agents out to find out who these people were that these phone numbers belong to interview them, find out if they remember the hijackers, take photo spreads. What was their contact? Do you know that flurry was mostly escort services? Here in South Florida. Which one last hurrah before our Jihad, you know, we're going to go out and they saw that with the folks because I drove past three of them motherfuckers that morning and I'll say it because I was headed into the Reagan building that morning. So I passed those assholes going out the dulles airport. Wow. On the 12 road. And we were in the Reagan building. We had meetings in The Pentagon. Fortunately, we were in the Reagan building to begin with first. I remember walking across the Rosalind bridge, going into roslyn, watching the smoke come up out of The Pentagon. And it's like, yeah, to your point, it's like, and guess what they were doing? Strip clubs. I don't have under one last hurrah. Well, they're trying to get an advanced start on their 72 virgins. Right. You will find no virgins at the strip club, my Friends. I'd heard. Allegedly, allegedly. The one interview was interesting because it was an escort who all we cooperated if her name wouldn't come into it. And you know how that goes. Of course, you're going to tell them. We need the information. Tell us. And she said, my husband doesn't know what I do. I just do this for spending money. But I will tell you that I visited with this hijacker on several occasions. And we were intimate. And on the last occasion, he told me this was the last time I ever see you again. And she said, well, you know, you're leaving, you're leaving South Florida. And he goes, yeah, something like that. So once we were done with our phone project, which was pretty much at the beginning of 2002, we handed everything off to our New York office. And later, we had different messages come through. We're somebody in the Intel community based on a lot of the interviews that we sent up. And the telephone analysis thought instead of it being 9 11, it was probably going to be 7 four. And I just found that very interesting. I don't have any evidence to prove that. Well, here's an interesting historical analogy because dates are very significant to Al-Qaeda. Dates are very significant to Islamic terrorists. There are things that mean something to them. The Madrid bombings, and so historically, when you go back and look at it, September 11th, 1683, I believe, was the last incursion of the Ottoman Empire into Europe, and they were stopped at the gates of Austria. With Germanic forces and polish forces. And that was September 11th, 1683. I did hear that, yeah. Yeah. So you wonder, was that really the date? Or was it just more of an organic thing that this was when everything was in place and it worked out? Well, and that's the thing is obviously they're dead. You got Colleen Sheik Muhammad, but he's in a hole in gitmo. We don't know whenever he's going to be tried because he was the one of the masterminds of this too, but yeah, everything's significant, right? To hit people on a significant date like September 4th, or then maybe that was the alternative, the fallback was 9 11. Again, not a conspiracy theory, but it goes back to one of the things you have to understand your adversary understand their doctrine. It doesn't matter what you think. It only matters what your adversary thinks. Yes. Exactly. But that ended up being the transition then from all of the Colombian squads being told, listen. The handwriting is on the wall. They're going to be converted to terrorism squads. Are you interested in becoming the supervisor of D three? Which is going to be a terrorism squad. Terrorism really wasn't my thing. So I said, no, I think I'll walk elsewhere. And they said, well, we do have a project that we might want to think about though. It's called the gitmo project that you would be the bureau representative. I thought about that for a hot second and said, no, I don't think so. I've been to gitmo on flights. Extradition flights out of Columbia, we'd stop at gitmo and then come into Fort Lauderdale, but. I opted for a spot, one of my squad mates, longtime friend Martin Suarez, was out running the undercover group, it was called stagehand. It was a backstopping under cover group. There are several of them around the country that the bureau relies on for undercover operations. And I ended up with another one of my squad mates jumping out the stage and I was pretty much in the undercover group then from 2002, almost until the year that I retired, which was at the mandatory age of 57 in November of 19 2014. So what kind of UC work were you doing? Well, I
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"Bank of England policymaker Catherine Mann is warning that the pine could we can further. This is traders digest the fed and the ECB's hawkish tone. Man spoke exclusively with Bloomberg's francine LaCroix. I was right, but I was also basing it my views on the research that indicated that front loaded policy would be a superior strategy to achieve the equilibrium. But on the other hand, we have to remember just how strong the external forces of inflation are or have been. And so although I'm vindicated, I also recognize that the external forces were going to be there anyway. So what's the right balance going forward? How do you see inflation? We try and predict what the Bank of England does. But actually, this is about predicting inflation first. Right. Well, so of course there are two elements. There's the external, the gas and the goods, goods market prices that come from abroad. Those are on the downturn in terms of they're not going to be rising as fast as they did last year. On the other hand, the part that I've always been concerned about is the extent to which there is strong pricing power of firms. There is acceptance of those higher prices by a lot of consumers. Of course, not all. But even in the face of the cost of living crisis, there's still a lot of people out there who are willing to pay higher prices and firms are willing to set those prices high. So when are you expecting the bank to go back to that 2% inflation number? Well, we have a forecast, and we have fan charts. And in the upper part of the fan, both with regard to economic activity, but also with regard to inflation, especially core inflation. Now, of course, the banks remit is headline inflation, but core inflation is where sustainable inflation at the 2% target has to be. So when I think about core inflation, I am concerned about this persistence, the embeddedness of the external shocks into core inflation. And both wages and, as I say, pricing power being in a very important ingredient. How much more aggressive do you want the Bank of England to be to make sure that this doesn't get entrenched even more? Well, I've said have had recent speeches where I've indicated that I thought more needed to be done in order to ensure that expectations in particular are for a declining rate of inflation. And the embeddedness to be mitigated. If you look at the terminal rate being placed in by markets, around 5%, the Bank of England pushed back against that. Well, the terminal rate is, I like to think of this as the terminal rate is sort of beyond the forecast horizon at this point. And so it's very important the journey, not necessarily the destination. Okay, talk to me about weak pound. How much does that impact inflation? Significantly. The UK imports a lot of products. It's a small open economy. It is affected by capital flows, as well as the imported price prices coming through the pound. And that is a very important ingredient. I did a speech middle of last year talking about spillovers, both with regard to imported prices, but also with regard to concerns about stability of capital flows. But if you look at the underlying condition I get for a week pound. I mean, there's nothing. Is there something that you can do that the government can do? Well, I don't make fiscal policies, so I'm not going to talk about that. But I think the real question right now is there has been quite a hawkish tone coming from the Federal Reserve. We'll hear a little bit more about that in due time. And of course, from the ECB as well. The important question for me with regard to the pound is how much of that existing hawkish tone is already priced into the pound. If it's already priced in, then what we see is what we get. But if those, it's not completely priced in, then there could be depreciation pressure on the pound. How much do you think is priced in? They've been talking hawkish for a while. But I think perhaps there's more to go. BOE policy maker there, Catherine Mann speaking to francine LaCroix in London. Now let's turn to our part of the world because cutters ruler has appointed a new prime minister calling on an experienced diplomat who's helped the gas rich gulf state assert its political influence abroad. For this, we go to Madison mills here in Dubai. Madison tell us more about the shake up, the new prime minister. What do we know about him? Yeah, so this is a big deal. Big news here, right about this shake up. This is Sheik Muhammad bin Abdul Rahman Al thani. He was the former chair of the QIA also former foreign minister since 2017. It's not super surprising though because the Emma really liked him. And he did a great job in pushing forward more foreign policy initiatives. What my context coming into this story was President Biden, big fan following Sheik Muhammad's help in getting those U.S. citizens out of Afghanistan in 2021. I believe Biden said that after that that Kutcher was a major non NATO ally for the United States. So that was a huge piece of information I brought to this, but Simone, I know that you're incredibly familiar with Qatar. So I wonder if you can talk a little bit about the foreign policy shift as well. Yeah, living there for three and a half years. Does it look get you a little bit more included? I think about the last year we've seen him go out to these foreign leaders, particularly across Europe, speak to them about the potential for more LNG contracts. And remember, Qatar very limited in the amount of LNG that it can additionally produce at this moment has a massive project for expansion capacity. So Sheik Muhammad has really been balancing that long-term reality with the desire to grow more influence in Europe. Well, I think it depends on what they're prepared to do in terms of the gas and the gas supplies within Europe, whether they were ever prepared to divert flow and what scale of floor were they prepared to divert from Asia through into Europe. And that reconciliation with the rest of the world was one of those pivotal moments in the gas crisis last winter. But his succession leaves a critical role open, of course, as the chair of the QI of the QIA. So where does that take us in that regard? I mean, what is the Succession names? Who do we know? The question I want to know is whether there's any change when there's any change in strategy you don't buy in football club in the UK. But maybe you can give maybe you can give me a that's the only thing we probably got a car. The new one's not there. That is the investigation that I am starting today, menace. Thank you for that hot tip. No, this is the name here is Sheik bandar. And on your question, man, it's about investment strategy. The CEO of the QIA stay in the same. So it does look like it's going to be definitely the deck of the top, but no change in the strategy. That's what it sounds like, right? It seems like, you know, shake bondar. He has come into the Central Bank pretty recently. And has moved in a much more forward thinking direction. Qatar is really shied away from things like digital currencies, digital assets, and he does seem to be he put out a new FinTech strategy yesterday. So at least maybe a more forward thinking guy, but again, he's chair. Digital Qatari real. Okay, Maddie. So we'll pick this up a little bit later on. Matt is going to stay on the story through the day Madison mills there in Dubai for the next couple of weeks. Pay more ahead on daybreak Middle East
The Dinesh D'Souza Podcast
The FBI Has Been Tailor-Made for the Left to Take Over
"Fast forwarding to now, when the Biden people say that the greatest threat today doesn't come from abroad, it's not foreign terrorists. It's domestic terrorists. Well, what that means is that the FBI and CIA can now coordinate against the so called domestic threats. And so you have an FBI that as a result of the reforms of 9 11 is now tailor made for the left to make to take over and is tailor made for the left to deploy as a weapon, not against people like Khalid Sheik Muhammad, not against the 9 11 terrorists, but against people like you and me was sort of a painted with the same brush.
Game of Crimes
"sheik muhammad" Discussed on Game of Crimes
"When you go to gitmo. And I'll just say I went to get mode to follow up on some investigations and stuff. But gitmo itself is not what you think. It's like the Key West. It's like rocky beaches. You don't have to say any beach and stuff, but the water is beautiful. And I imagine the diving is great because when you get you fly down there in these little, we had military private type genes, flights. But the FBI shows up. And FBI has their hand in everything, right? But the FBI shows up with all their dive gear. Their snorkel gear and everything else. So I'm like, are you really here to do anything with the detainees at Guantanamo Bay? Are you here to dive and fish or whatever? Looking for lobster. Yeah, oh my come on, FBI. You know what? I don't know if they're FBI, but they sure as hell seem like they're FBI. So that job where you associated with the office of military commissions. Yeah. So after I retired DEA, I took a one year contract job, working over in tysons. The secret location and they brought us into me and another guy retired agent to review the cases on all those people and gitmo. And we're working for one star, and I said, what's your objective here? And he says, we're looking for any new nuggets that would help prosecutions. Yeah. So we got to look at some of those people who have been in custody for 15 years. We went back to the generals like, what do you think? Government efficiency. I think it was a super guy. I love the guy. I can't remember his name about it. I had the utmost respect for that, man. Well, I'll tell you the guy they need to keep in custody and never let out as Khalid Sheik Muhammad. He was one of them. Yeah. So you're smiling. What's your KSM story? Did you have any contact? You know what? I'll write sit up here and there, but I'm not going to talk about it. There's things that you're not allowed to talk about. Just between us. I promise we won't say anything. So there I was. The front was no shit, there I was knee deep in grenade pins. Violated your security out here. So pickled. Yeah, you said it. I'm like, and anything I put in a book was all open-source, so it's like, you know, there you go. There you go. And it wasn't anything I created. Yeah, I hate people that try to act spooky that are that aren't anything to do with spooky world. And like, oh yeah, I can't tell you about that. I was top secret. This is just basically hey, you know what? You have to dig up case nuggets in there. I wasn't anything exciting. I did have some decent training, which was really cool. Just interrogation training. But my passport photo was awesome because I was just got back from the war, so I mean, I look really good. This is a 190 pound Jason piccolo compared to whatever I am now. So I got that out of it. We can't talk about that. You didn't get in training and rendition, did you? No. This was post. This was post enhanced interrogation. Okay. Start using the army field manual on interrogations. Physically. Physically, right upside the head. Yeah. Oh my gosh, you guys. Okay, let's close.
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"The landscape as you arrive in Dubai. The building's architect says sustainability was his main driver in designing it. His name is Sean Keller. He is the design partner at killer design. How are you? Good to have you with us. Very good. Thank you. This building was a group. Over every year that I've been here for the past 5 years, it evolved. It grew every time I arrived in and out of Dubai. I'm much did that building because it's spectacular. We're going to see some images for anybody who hasn't seen it. How much did it push the boundaries of architecture? It pushed to the boundaries of architecture far beyond where architecture is literally today. Not in terms of design. In terms of the way that we had to design it and the software that we were using, we were literally using software that was used for airplanes and aeronautics. We were working with people like Boeing in terms of how to create a stainless steel on the facade and create a facade that was permeable with light throughout the entire facade. Other GRP using robotic arms to make every single panel, which is there's over a thousand panels which are completely unique. The bonding and the way the double curvature worked, it's all pushed the technologies into even the steel structure and how well that was done. And I think the story of Sheik Muhammad's personal involvement in terms of the calligraphy on the outside of the building is very well known. It's very well fed. We're here to talk in many ways about sustainability. Yes, I did drive past it many times there are many people working on it. I used to look at it and go, I haven't seen that kind of material before. I sustainable is that. It's not just in the building of it, but it's in there. It's a longevity. It's in the archon. It's in the entire systems within that building. Just taught me through the sustainability. So throughout the entire museum, first of all, it's Pre. lead certified platinum and we'll also we have solar panels on the roofs around the car parks of Emirates towers, as well as the car parks next to the World Trade Center. So that's contributing directly. It's direct cable straight to the transformer rooms, which is producing about 30% of the energy for the building. There's recovery systems in cooling and lighting. There's heat sensors throughout the building, CO2 sensors throughout the building. So it's constantly there's a BMS system building management system that is constantly monitoring where people are, where the heat signals are and constantly adjusting. So it's almost like a symphony where it's adjusting to how people are moving around the building. In the design of that and the development of that in the group development of that, did that did not push your boundaries as an architect as a designer going, my gosh, I didn't know that this had evolved to this extent. Will you pushed? Partially, I actually started my sustainability crusaders that were more than 20 years ago when I designed the Bahrain World Trade Center, which 18 years ago I designed that and that was the first building ever to have a large scale wind turbines between two buildings in an urban environment. So pushing the technology of something that has never been done before like that. And obviously pushing the sustainability regime within that building is being a continuum where we are designing projects which are now zero energy zero water zero waste. Zero cooling. And there is the barrier there is the borrowing that you're referring to. So you were at the front of this sustainability movement, perhaps you saw from Prince Charles where our King Charles were joined at the hip a long time ago. When I think about sustainability and I see that building and I live here and I live in the Middle East. How much influence will your design of the museum of the future have on other architects here that want to emulate sustainability? Is it now very much part of the zeitgeist of design in this emerging market? Well, divine inspiration is already pushing very hard to do with the green buildings council and all of the sustainability elements within that. And there's a great encouragement by the Dubai government to let people push that. So the point is that architects today are looking for low energy buildings. And clients today are looking to have lead gold or lead platinum certification. So there is a general move towards that, pushing beyond that boundary and really aiming for renewables within buildings to the level of going half energy
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"It's the big take from Bloomberg news and iHeartRadio. I'm west Kosovo. Today, the richest family in the world that you've maybe never heard of. And now let's pick up where we left off before the break. Money sort of is spread across a very large family, doesn't dozens of people have a piece of it. It was just some big pile of money everywhere can go grab at it. Are there some who have far more than others? Probably? Yes. Like I said, there's going to be certain lines of the family that depending on kind of how they rank in the family. I mean, this is kind of an amorphous concept, but some families branches outrank others depending on how close they are, how powerful Sheik tan noon and Sheik Mansour and Sheik Muhammad are all their full brothers and their mother was very savvy, politically, and she made sure that her 6 sons were well positioned in the family. So thanks to their moms kind of smart networking, basically or whatever you need to do within the family. Their sons were lined up to kind of like have some of the primo positions and possibly access to great deals. Then you come interested to hear how do people in Abu Dhabi regard the L 9 family and their wealth. What do they think of them? Well, I guess this is a starting point for most people in Abu Dhabi. These are their employers, whether they work for the state oil giant where the brothers sit at the top of the board, whether they work for one of these private investment vehicles, managing the money on behalf of the brothers practically everyone can trace their job there, the building in which they're living the building in which they're working to one of the companies controlled by this family. So I think from that standpoint, as long as their standard of living personally is good, then they would put the family in high regard, particularly in the boom times, which Abu Dhabi is in right now, given the way oil prices are trading. Yeah, and to add to that, I mean, the united Emirates the indigenous population. Let me write these nationals are minority in their own country. So most of the workforce here is internationals are immigrants are coming here. So they are all here as guests here to improve their livelihoods to earn their livelihoods to improve their lives. So I think in general, the wealth of the ruling family is not a daily topic. It's not something you second guess or speculate about it. It just affects life and being here in the UAE. So you spelled out their wealth and you also talked about how difficult it is to find it. How do you go about finding their will? How did you determine how rich they are? Well, one thing that helped us a lot kind of establish like a very high floor for their wealth is we spoke about how that they have some unusually big publicly traded companies. And Sheik tannen is he founded a conglomerate, which has grown and grown in recent years called royal group, and one of royal groups, biggest divisions is as a company called international holding companies. It could have been investment conglomerate within this
Game of Crimes
"sheik muhammad" Discussed on Game of Crimes
"Pentagon city. Actually, I'll tell you a funny story about that. I was living in the same I was living in the same high rise that remember that Russian spy ring with the redhead Chapman and a Chapman in the sand. I used to see her and her buddies around the pool at the place I was staying at. And I was like, wow, you know? And then one day I come back from one of my adventures. And here's a bunch of here's a bunch of FBI raid jackets walking in collecting stuff. And then the next day I hear they just rolled up a big spy ring living in the building I was in. It was pretty funny. Very cool. They were part of the Russian intelligence SVR. That was a thing called operation ghost stories. That was one of the longest they were all Russian illegals here. What we would call non official covers, yeah. What years were you doing the alpha military commission thing? That was in 2010. That was a 2010. And did you work out of the office there in Tyson's? No. I worked, I worked in Alexandria on Wilson. And the reason I'm asking, do you remember the general that was in charge of it back then? One star. I worked for I worked for a jag officer marine kernel. And here's the reason I asked these questions. I sound like a defense attorney here trying to when you sound like an interrogator. Now, where were you on this night? And what were you wearing? Because I want to say 2000 14 to 15 for one year. I only did it for one year. My buddy did it for two years, Tom Slovakia. He's retired DEA agent. We were picked up on a contract to go work in the office of military commissions there in Tyson's. And actually with the general is and the prosecutors and all that. And the initial project was to review all the cases and gitmo, which sounds exactly like what you were doing that. Well, an actual fact though, I was on the other side of the table. I actually was working for the defense, which was fascinating. We got to end the interview. No, it was actually really fascinating because obviously my entire career, I've been on the other side. And in this particular instance, I was working with the Jags that were on the defense side and some civilian attorneys. So it was very, very interesting. Really fascinating. A couple of questions about that. Because it has taken forever. I mean, the military in some ways is really good because if they have to, they can move stuff. But when it comes to the legal process, we've been dicking around with this for 20 years ever since Khalid Sheik Muhammad was rendition. Had his ass rendition back to Pakistan. I mean, we can't get a trial and it's been 20 years.
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"To see the effect on some sectors, but it's going to take some time for that cumulative tightening to transmit throughout the economy and for inflation to come down. And of course, uncertainty is high. So I'm paying close attention to global risk. The Federal Reserve vice chair at the national association of business, economics, life from New York City this morning. Good morning, alongside Muhammad Al Arian for the next hour looking forward to our coverage. We'll catch up with the Spanish deputy prime minister a little bit later. This hour as well. Futures right now, shaping up as follows on the S&P 500, we are lower, negative by 6 tenths of 1%, just about off the lows and guess what, treasury yield just about off the highs. Yields up by four basis points on a ten year three 92 25, the gilt market Muhammad in the UK all over the place. File this under things you never want to say as a central banker. This line here, dysfunction in this market and the prospect of self reinforcing fire sale dynamics pose a material risk to UK financial stability. They've expanded their support this morning. They still have this line and though. As previously announced, the bank plans to end these operations and cease all guilt purchases on Friday the 14th of October. That is a couple of days away. Is that doable? It is doable, but doable in a very challenging environment. What they're trying to do is pass on the liquidity provision to the private market, supported by the Bank of England. That's why they're trying to do. John, I think there are two major takeaways here because they go beyond what's happening in the Bank of England. One is the difficulty of balancing growth inflation and financial stability. It is not just a Bank of England issue. You see it in the Eurozone. You'll see it in the U.S.. The second issue which is just as important is tipping points. Once the bond vigilantes are unleashed, they tend to find tipping points So central banks and governments have to be very aware that we are getting close to a situation where financial instability is the tail that wags the dog of the economy. It goes through that trilemma again and tell me which one you think we have to accept. So I think that we need different instruments to deal with different issues. We need the central banks to focus on inflation. We need governments to do more to promote economic growth. And then we need the regulators because the risk of financial stability is in the non banks. It's not in the banks. It's in the non banks. We need the financial regulators to step up to a challenge that they haven't done. Risk doesn't disappear. It moves and migrates and it has migrated to the non banks. Is that an impossible Trinity? It's a difficult Trinity. It's not an impossible Trinity. It's a difficult Trinity. And the later you leave it, which is why the fed being so late as problematic, the later you leave it, the heart it gets. The reason I ask these questions, and I've asked this of Rick reeder last week, I'd love your insight on this too. Think about what we've just blown up. And I don't think we have enough time to reflect on this. Every given morning we talk about the latest news, the latest data point. We've just blown up a decade of QE negative rates zero rates forever. We were sitting here thinking, maybe we go through another full cycle with the ECB doing the same thing. And I'm trying to understand whether we fully realize the consequences of that. We touched on it with Jackie Chaudhry and guy he talks about the resilience of balance sheets. And I hear that a lot about public markets, about credit, corporate bannered sheets. I hear that a lot about household balance sheets. It's not 2008 again. And you correctly brought up where the risk might lie, and it's on the periphery. Can you give me a little bit more on that? That is. For the last year, you and I have been talking about that sequence that we didn't want to see happen. It starts with interest rate risks. It's all about central banks changing the liquidity regime. Then it migrates to credit risk. We worry about recession. And then if we're not careful, it migrates the liquidity risk. And we've been talking about be careful of that sequence because when we get to liquidity risk, all three are playing at the same time. And what we've seen happen because central banks have been so late is that that sequence has played out and we are now dealing with interest rates and credit risk and we worried about liquidity risk. That's a really difficult environment. And we have to appreciate that navigating through this is going to be incredibly bumpy. Market stability is the phrase at a moment. Market functioning and market functioning too. Vladimir Putin of Russia talking about Marcus stability right now, OPEC plus decisions aimed at ensuring market stability goes on to say that OPEC plus decisions were not aimed at anyone else. And Marie joins us now down in Washington. And it makes your take on those lines. Well, we've heard this before from the leaders of OPEC countries, but obviously even if they're not aimed as president Putin says towards anyone else, they clearly benefit the producers, especially the likes of Russia, which at the moment is really being hampered on how much they can export, but obviously needs a much higher price. Jonathan, I would say for Putin to make these comments or a relatively bland for him on the energy front, you have to look at who he's sitting next to. Right now he's having a meeting with Sheik Muhammad bin Zayed, the leader of the UAE, and it's quite uncomfortable for some of these leaders who are trying to act as a media and individuals who want to strike a peace deal with this war that's happening with Putin's invasion of Ukraine. This is something Putin can say alongside MBZ to say that this OPEC decision was really about market stability and not about politics, which many are viewing it as. I mean, as you've been working reporting, this has both domestic implications for the U.S., but it also has implications for U.S. foreign policy. So how do you think the Biden administration responds to what it's seeing? It's incredibly challenging for the administration right now on two fronts. One, you have, of course, the geopolitics and the politics and the optics of the president making this historic trip to the kingdom and then just three months later and weeks before the midterms, the kingdom not coming to its help in terms of oil supply when clearly
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"Is WTI 90 60. I'll take another look at market action for you in about 15 minutes. Sorry, Jules. Thanks, Jack. 35 minutes facial time for global news. And Japan is open to travelers. Let's get to it. In San Francisco with the details it. Yeah, thanks. Japan's allowing general travelers to enter almost as they did before the pandemic. You're right. Bloomberg Stephen engel here. Yeah, as of today, essentially Japan is open. It is one of the last remaining rich nations to open up a fully essentially of inbound tourists from 68 nations can now go to Japan as of today without visas. And you know, the Japanese authorities, they want to take advantage of yen at one 45 and change to the dollar low inflation and they want to see and most economists are expecting the inbound tourists spending to surpass the boom that we saw in 2019 and pre-pandemic levels. Yeah, that'd be pretty amazing. There are still some rules to follow such as proof of vaccination, but the bank of Japan is hoping to return next week that they'll see the economy benefit from a week on prior attempts to get tourists back have failed. China's president Xi Jinping now calling for patience with his persistence on COVID zero policies. He puts it today a warning against any war weariness. Russian president Vladimir Putin is warning of harsh consequences of what he calls more terrorist attacks occur against the Russian infrastructure. So through a translator, Putin says more than just the Crimean bridge is involved here. It is also obvious that it was the Ukrainian Secret Service who ordered organized and carried out this act of terrorism. But a whole host of other terror attacks and attempted attacks have also been carried out against the electricity and gas transporting infrastructure of our country. Our Putin says there are direct attacks on cities if there are any more activity like that. The key hit receive missile strikes including one at a public park. The mayor of key vitalik, says he hopes he attacks will not continue. I hope not but we have to be prepared to for more attacks today. Yeah, he says the message to Russia is that Ukraine will never be a member of the SSR. United Arab Emirates president Sheik Muhammad van Zion olney on well traveled to Russia tomorrow to meet with Vladimir Putin, the EU and NATO have condemned the bombings of civilians in the U.S. President Biden condemning them as utter brutality. In North Korean leader Kim Jong-un says the state of missile test simulated tactical nuclear strikes designed to be able to protect North Korea from any U.S. or South Korean aggression. In San Francisco, Ahmed Baxter, this is Bloomberg, I Brian. All right, thanks very much. The time is 38 minutes past the hour. It's time for world sports. Dan Schwartzman is the chief here looking at whether or not PSG is going after a Chelsea star. Yeah, reports Brian out there say that Chelsea midfielder and golo Conte does the one remain at Stanford bridge. This despite having just 6 months remaining on his current contract, sources are reporting that
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"Anna? Yeah, good morning to you, Manus. A nation in grief, waking up. With many questions and perhaps in shock for all that this was something that could have been foreseen and was to a larger of course expected, it still happened seemingly incredibly fast from the initial statements coming through from Buckingham Palace that there was concern and she was being monitored by doctors to the news yesterday that she had died at the age of 96 at balmoral, her castle in Scotland, the east coast of Scotland that she loved so much. So a nation in shock perhaps still dealing with the fast pace of these events. The prime minister Liz truss leading the nation, giving the government's comments of course pointing out that The Crown passes now to King Charles the third and calling on the nation to rally around King Charles saying God save the king and newspapers trying to capture the mood of a nation that's really trying to deal with the knowledge that the only monarch that many of us have ever known. She was on the throne for 70 years, so most people here have not known anybody else. She was the head of state and other places around the world, of course, some 15 countries in total. They're trying to capture the mood. And I was taken by the front pages of a couple of them. The daily mail saying our hearts are broken. The Daily Telegraph channeling the words of the queen herself, saying that Greece grief is the price we pay for love. And those words were quoted by President Biden when he talked about the queen. And of course, she lost Prince Philip her strength and stay as he was referred to just last year. There's a wonderful line in the editorial that we've written on. This is a beautiful tribute. The revolutionary monarch at Queen Elizabeth II. This is Adrian woolridge. She defied the bicycle riding Don marketing of European royals and transformed the windsors into a staunchly bourgeoisie, yet mesmerizing dynasty. And she had that mystique of majesty many would say Anna, but of course the international tributes are pouring in from America east and west, the latest. Yeah, absolutely. So President Biden saying that she was to your point there, man, as more than a monarch, she defined an era as we get ready well at the end of the elizabethan age, we prepare for a new era that comes. And a sense that perhaps things shift beneath our feet, she is somebody who is so associated with the second half of the 20th century and the beginning of this and many, as I said, can't remember a time without her. So President Biden giving us those words and referring to the quote that she sent to the Americans on 9 11 that grief is the price we pay for love. Australia. The prime minister there is thought saying that she was a wise and encouraging guide who brought solace to millions of Australians, the New Zealand prime minister also adding her romance. She was head of state here in Britain, but also in 14 other countries around the world and we've seen tributes coming through from many of those from Canada and others, but also from many other countries that have diplomatic ties, of course, with the UK, but even countries that don't even heard attributes coming through from president Putin of Russia. And we will leave you there. We will see you throughout morning programming images of Buckingham Palace and just to add to those messages of condolences from this part of the world, very close relationships, both in terms of being educated in the United Kingdom, his royal highness, hamdan, but this is from Sheik Muhammad here. We joined the world in mourning on the passing of her majesty Queen Elizabeth a global icon who represented the finest qualities of her nation and people her incredible lifetime of service and duty to the United Kingdom is unparalleled in our modern world. And the crime prince also making his commentary as well with a beautiful image of her royal highness Queen Elizabeth II queen of love, wisdom, humanity, the world will miss you tributes, pouring in from across the world. And here from the rulers of Dubai. Well, to central banks, jumbo Central Bank rates are gaining momentum as top fed officials open the door to 75 basis point hikes and the ECB walks through it. The governing council today decided to raise the three key ECB interest rates by 75 basis points. This major step front loads the transition from the prevailing highly accommodative level of policy rates towards levels that will ensure the timely return of inflation to our 2% medium term target. Our global economics and policy editor Kathleen Hayes joins us. The messages one wants to be forthright and the other wants to get going at several meetings. Let's start with madam Lagarde at the ECB. What did you take away? It's very clear. Christine Lagarde is now completely on board with moving ahead moving ahead aggressively. You just heard her talking about removing excessive accommodation, moving towards normalization, front loading rate hikes. Now, this started that kind of phrasing to a large degree in the United States with the likes of hawks like Jim bullard. But Christine Lagarde has adopted and it's interesting too that she's hinting at more potential 75 basis points when she says she sees more high hikes as needed. She talked about, well, what are several rate hikes that you're expecting? More than two, no more than 5, she said, so she gave us some more guidance there. Interesting that Bloomberg news reports, ECB hawks and doves, bathys. So it's not just the hawks pushing and shoving the doves forward. They are on board as well. Investors, as you know, now pricing in, 40% odds of another 75 basis point rate hike as soon as October Manus. When the hawks and the doves meet in the middle company and that's when you really want to worry about policy. How much closer is the fed to third jumbo 75 basis points? Just forthright equals 75. They're very close. What's going to stop them? Let's look at it that way. They already done two 75 basis point rate hikes. They've seen two very healthy, strong jobs reports in a row, inflation was above 8% still, even when it pulled back a little bit on the headline CPI last month. So what if it pulls back some more? What if it went to 7.9? Oh, slow down, I don't think so, because it would make clear in that speech again today. Like he did in Jackson hole. We've got to move. We've got to move forward. We can't halt prematurely like Paul Volcker did in 1980 when they thought they had inflation under control so they started slowing down, pulling back on rain Hanks and guess what? They didn't have it under control. They had to start hiking again and they made even a worse recession. That's what he wants to avoid and is making it clear that that's what they're going to do. And remember, Charlie Evans, who was known more as a dove than a hawk, he's president of Chicago fed. He said that he could see going for the 75. He hasn't made up his mind yet, but one thing for sure he said, we need to keep moving rates higher. And so he said it isn't really 50 or 75 at a time. What we're signaling, where we're going. And I think that's what matters here. 75 basis point hike from the ECB. I was a little bit surprised because I thought, gee, they've got a recession looming and all that. And they really downgraded their growth forecast for next year for 2023. However, with the fed, I won't be a surprise at all man as if they don't, if they do the 75, I'll be more surprised if they don't. How about you? I'm with you, Kathleen. I mean, I think expeditious and front loading just means go hard, go heavy. Or go home. There's a window, jump through it. I'm a great believer in us. Take your opportunity when it comes coupling. Thank you very much. Have a great weekend, Kathleen Hayes. Global economics and policy at her joining us from New York. Let's check back in with Jules. She's with me in Singapore for your first word headlines from around the world
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"Yesterday about the apocalyptic risk of soaring food prices let's talk now to the CEO of one of the region's leading food and beverage companies that's Asia which is based in Abu Dhabi Alan Smith joins us now Alan which commodities causing us the biggest headache at the moment what are you struggling with Before we start can I just express my condolences for the sad loss of its China Khalifa bin Zayed Al Nahyan and congratulate his highness Sheik Muhammad bin Zayed Naya on the people of the UA and its election as president On the question of which commodities obviously wheat is concerning us at the moment given the impact on supply out of Ukraine So that is probably the biggest headache I think when we look at overall global commodities obviously we've seen a pretty volatile market with prices increasing significantly So we certainly have a very strong cost plus driven inflation at the moment that's impacting the whole industry And good to have you with us this morning Just to continue that obviously India yes we are looking at the weak futures yes you have 6% record highs in Chicago India goes to control the exports How much of a dislocation is that for you Because you were carrying that as a banner of going but we got our week from India and not from the Black Sea That was a big alpha for you Do you expect restrictions Do you expect it to get more difficult How long are you contracts in India So at the moment we have coverage through till about August September time So during the first volatility back in March we took some decisions to increase our increase our coverage We have some general supply options globally in terms of securing our supply But yes India has been a primary source of our of our week for the last 1820 months Now it's interesting when we look at the announcement by the Indian government obviously they've also added to that bun un export a caveat around the fact that they will continue to supply where governments request on food security basis So for us what we're looking at obviously is the coverage situation We already have a suite of suppliers and supply approved suppliers that we use So we'll just continue to look at that see how we can work with the Indian government and UAE government And make sure that we continue to ensure availability in the business I look at your quarterly earnings and what stood out to me is that you net profit was up in excess of 60% year on year How sustainable is that given that you're getting pressure from the supply side and maybe the willingness of consumers to kind of pick up some of the cost may be limited What are you seeing in the data I think given this is a general cost plus driven inflation I think what is happening to activate is happening to the whole industry So we're seeing pricing or cost input on everything across the board If we actually look at our Q one results obviously we're pretty pleased with them I think it shows we've made excellent progress in delivering on our promises and the quarter If you look we diversified our revenues both in terms of categories So 75% of our revenues in Q one came from came from our consumer business which is which is obviously where we're focused to grow And interestingly 51% of our revenues came from non UAE business so our international business a significant improvement in terms of diversification of the business And that gives us a bit more flexibility in terms of dealing with cost pressures Now what have we had to do We focused on pricing We've also looked at continuing to leverage the scale of the new business Obviously we achieved over a billion theorems of revenue in the first quarter Two years ago we achieved 2 billion in the whole year So significant progress there And then the last thing is really focusing on revenue management looking at our mix how we spend our gross to net So making sure that we maximize our profitability to try and protect those businesses Are you worried about the cost of living crisis heading demand Michael O'Leary was with us yesterday He talked about the risk of recession in Europe You talk about the global footprint I get that But the reality is Lloyd blankfein is talking about a recession Michael O'Leary is talking about a recession They're talking about another wave of COVID in New York Is the consumer a huge risk really in terms of stepping back on those spend Is that a big headwind for you that you concerned about I think without doubt disposable income is going to come under pressure If we if we look at current trends we're not seeing any softening and demand So actually the demand outlook work cautiously optimistic We were talking a little bit earlier about the about the impact of the oil price on the Middle East economy So hopefully that will continue to drive the demand and the inflow of cash into the market We're look over time without doubt price pressures will and it's coming across the board whether it's on fuel whether it's on food whether it's on transportation it's something that we've got to watch but for the time being we're cautiously optimistic about demand And if that continues that will certainly help us in terms of protecting profitability What about M and a opportunities It's been a big seam over the last year Have you made any notable progress in sort of what is the priority going to be over the next quarter as we kind of head towards the end of the year Look we continue Our strategy hasn't changed So fundamentally we set out a 5 year vision We continue to focus on an M and a pipeline The right opportunities in the right markets and the right categories are criteria haven't changed in terms of in terms of we're looking for market leading positions We're looking for strong management teams Good businesses basically that we can that we can continue to leverage and scale on as we've done with the acquisitions we've made to date So from our side it's business as usual in that regard but obviously we have to be a little bit more cautious on due diligence and considering the impact of any cost input on potential targets margins So just let's close off with the wages side of the equation I'm just curious to get your input We've got the story this morning Microsoft allocating 25% more for their wage bills They're going to pay And we're seeing this across management structures companies paying to keep talent Are you going to give your employees an on average raise to deal with the cost of living that's very obvious for us all are how much are you allocating your costs for labor allocation rising substantially significantly moderately How do you describe it Look when we look at the overall P and L if you look at our SG and a as a percentage of revenue given the new businesses it's actually declined 3% year on year So we're starting to see the benefit of the scale of the business shall we say in terms of how much our offer are overhead In terms of salary obviously we have to remain competitive one of the big drivers behind the axios strategy is capability to retention bringing the best talent and the business will continue to be continue to be a focus for us But at the moment we haven't set any specific funds aside for salary inflation at this point in time I'll thank you very much for giving us your time this morning That is Alan Smith Group CEO with a very latest use of some breaking news headlines on kasia bank in Spain The board has agreed to agreed to approve to start up to €1.8 billion of a buy back Of course this is one of the hallmarks of this reporting season has been the buyback news The buyback won't exceed more than 10% of the capital Exactly And some other lines coming through here they're ultimately planning to increase revenue by 7% by BT in 2022 2024 CET capital ratio over 12% by the end of 2024 a lot of guidance coming through with this announcement They're looking to bring back profitability to 12% in the plan The NPL ratio is going to come down a little bit to under 3% by the end of 2024 and we'll see how the market digests all of this information Okay let's shift the agenda along We had the preliminary results from Sunday's elections in Lebanon and it shows Hezbollah and its allies lost seats in the country's parliament threatening its majority in the country's top.
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"Decided to play this would be an historic moment Their membership in NATO would increase our shared security Demonstrate that NATO's door is open and that aggression does not pay Well for more let's bring in Bloomberg's John husky John the timelines on this membership and the obstacles in the way What are they Well the timeline is pretty well said well we're going to see this week is the parliaments and Finland and Sweden approve the measure and submit the paperwork to NATO headquarters in Brussels After that it begins a pretty long process of all the 30 allies improving which could take up to a year The biggest hurdle was turkey's objections to Sweden They had some concerns about Sweden for Sweden's support of some Kurds in turkey But as Jen sultan Berg said it looks like turkey is going to allow the membership to happen So it's all on track for these two countries to join And what we're looking at is the greatest realignment in the security situation in Europe since Russia's invasion of Ukraine Meanwhile Germany says that plans to stop importing Russian oil by the end of the year even if the EU fails to agree on a ban How likely is it that we're going to make any meaningful progress in the next couple of days on that front Well we heard from government sources that it looks like Germany is going to head with it There are securing deals which should solve the logistical concerns over the next 6 7 months that would allow them to make the shift And what we've seen so far is that Germany is really dropped its consumption of Russian oil At the time of the before the war the consumption of Russian oil was about 35% of the mix Now it's down to 12% I mean there's some difficult factors for doing this because of the amount involved in the size of the German economy but Germany is trying to solve those the government officials said and looks like it can do it by the end of the year according to people within the within the government Ambitious targets for sure at least in the estimation of quite a few experts Bloomberg's John Hurt COVID being one of them Thank you for joining us Let's get to wheat now because they jumped by the exchange limit after India moved to restrict exports I mentioned this at the top of the show But I want to get to more details because it exposes just how tight global supplies are after the war in Ukraine threatened to drive up food prices even more so what foxman joins us now from Doha So Simone we saw the move up in terms of the market limit What likely are we going to see in terms of other suppliers maybe stepping in and filling in the gap We use a truly there is a desire for other producers to fill the gap The problem is not just Russia Ukraine however It's that we've seen particularly bad weather across some of the other major suppliers for the world Canada the U.S. have faced massive droughts extreme heat waves across the European Union and that is why we are seeing just the extreme nature of this move in the markets and why we're seeing the leaders of the G 7 agricultural ministers come out and really condemn this decision by India Yes India the world's 8th largest exporter of wheat and therefore a normal times it wouldn't have a huge impact on global supply but because of Russia Ukraine because of the weather that's why we're seeing this massive move A caveat for our region however which is typically so dependent on Russia Ukrainian supplies and has increasingly turned to India to try and fill that gap Still transactions between India and certain other countries with food security needs are said to be able to go forward despite this decision So that's why we saw Egypt deployment minister coming out yesterday and saying that it's actually exempt from this decision and Egypt still intends to get 500,000 tons of wheat from India this year after making India a key supplier But the global themes that we are seeing here food protectionism amid rising prices globally and then also a likelihood that more of these food transactions are going to move to the government to government model as we see prices high as we see global concerns about food insecurity really dominating the space Okay The one thing we were just talking about this this morning is that we haven't seen any major global I suppose explosion or disruption in terms of violence as you saw you covered this of course in detail use of many years ago But we haven't seen that yet Have we Across the emerging markets Simone thank you very much Simone Yeah Okay Saudi Arabia posting the highest profit Saudi Aramco part of Saudi Arabia posting the highest profit since the record stock market listing That's after oil prices served in the wake of Russia's invasion of Ukraine Bloomberg's Matthew Martin joins us from Riyadh Barnstorming numbers Matthew but no big payout in the dividend No absolutely I mean as you say Aramco made a record profit are almost $40 billion of net income free cash flow generated at $31 billion And they also over the over the quarter have completed the sale of some of their pipeline assets and raised another 15 and a half $1 billion so our generating a huge amount of cash but they are not returning any of this to investors They have instead opted to use it to reduce their gearing so they have done that But still the interesting thing that's also come out as well yesterday was the government announced how much money they raise in oil revenue and all of the government's oil revenue which of course all comes from Aramco and from its dividends and from its royalty and taxation That had increased by 60% So Aramco although it's generating a huge amount of cash the main entity which is seeing the benefits of that is the state rather than investors in the company Matthew thank you very much for the analysis that's Matthew Martin in rheon United Arab Emirates is in mourning And it comes against the symbolic backdrop of quite intense dust storms over the last two days One of the most powerful people in the world laid to rest I mean the images were very interesting to watch just in terms of the simplicity of the funeral as Sheik Khalifa was laid to rest by his family at the albertin cemetery It was a very private affair and you could see how the brother was very much hands on throwing dust over the gravesite but still documented on camera for the public And it's a chance to reflect on how Sheik Khalifa contributed to the UAE's success There's of course the sense of optimism around how smooth the transition has been And in terms of where Sheik Muhammad bin Zayed now it takes over formally as president of the UAE Without formalization years of as you said it was very poignant images all across social media the rest of the region going into former morning as well alongside the UAE But the roll call of who is arriving to shake the new president's hand is Macron his first foreign visit as leader Johnson Boris Johnson last night today you are seeing the U.S. delegation We understand that touching down and horda and is on that delegation at the moment There's vice president Kamala Harris and Secretary of State anti blanken to arrive and greet the new president today Yeah we'll be across those developers throughout the day In the meantime let's run you through the first word headlines for some of the other stories.
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"Let's get back to the middle of these markets now with our equity support of Farah Al brahe the bulls are judging and deciding stocks that a dowel continues to I perform global markets What are they saying Let's get to Farah We've had that entire final a little bit a little bit more suspecting of side evaluations but is he alone to center Absolutely man So he is absolutely right that Saudi stocks are trading at a very significant premium to emerging markets But analysts and fund managers both in Saudi and outside of Saudi Arabia think that this outperformance will continue despite the extra buck but you'd have to pay for Saudi stocks compared to their EM peers I mean again technically self explanatory on the energy story that is really really heavy on commodity stocks generally but also we have the banks which you were just saying you know a lot of announcers will do a Sean here in the region but I think it's really exciting Arabia Would the dollar peg their voice to benefit from all of the upcoming rate hikes from the fed A Russian capital that surveyed 51 fund managers who expect outperformance will continue against global peers but also Morgan Stanley They think that would orient levels being so high Saudi Arabia is moving into a long period of the sizable surplus And that will help it do some targeted fiscal evening Which in turn will again help different sectors like consumer stocks And then we've had some earnings come through in this part of the world I'll have stocks reacted so far What stood out Yesterday there were a couple of names that stood out to me So if there is Lee jump sports or fitness time they're Jim operator and Saudi Arabia Their shares fell as much as 10% yesterday even though they swung to profit from a loss last year The issue is that expectations would the reopening from COVID discuss the stock a couple of times on the show as well that it would be one of the beneficiaries from coming over these headwinds but it seems that it was still a mess versus analyst expectations and we're waiting to see a little bit more on that front but also we had COVID navigation on the flip side They outperformed or rather they beat estimates and they outperformed yesterday on the exchange Well thank you very much for rounding us through that for our way there Just a couple of lines here the Bloomberg on the earnings front this time in Switzerland ABB coming through then with an operating first quarter EBITDA of $997 million The estimate was for $930.5 million So that is a comfortable beat on the net income line and on the revenue side as well will keep a close eye on the lines as they come in but let's get to this part of the world again now because magical for team was the patriarch of a shopping and entertainment empire that's an anchor of Dubai's economy but his death in December has thrown up all sorts of inherited complications Bloomberg's a xenophon has a story Xena for our global audience can you put into context that the size and scale of this empire and what exactly the issues are today This is one of the most important conglomerates that was started in Dubai and was able to transcend across the Middle East and even Africa They have the operations and around 17 markets the recipe for entertainment and shopping malls basically combined was a hit across the Middle East and they have assets across the region as estimated around $16 billion That's just one of the company The billionaire himself also has personal assets that were all now up to inheritance by around ten years I love the line in this story It's a great story by the way And it pulls a lot together It's like the economic lever of Dubai If you think of Emirates as being an accelerator magid alpha tame is the alpha There's ten people three wives one son 6 daughters He's going to win Well basically Everyone's a winner Everyone that amount of money Well the thing is initial reports of a lot of Discord between family members seem to have now with this appointment over judicial committee subsided somewhat What we're being told by sources that they are now able to their meeting they're trying to figure out a way to move forward to allow the company this jewel of Dubai to continue to operate in the same way that it was doing before It's a professionally managed company and in many ways people are confident that hopefully these issues are being guided by this committee that was started by the Sheik And it's not a typical thing It's just basically ensuring that this dispute don't get out of hand And of course this is led by Sheik Muhammad I just hope that they keep the penguins Do you even go to school I go I look at the penguins and Marlene You know I'll say this I'll say this on the record I've been here ten years I've never been skiing in the indoor mall You say he goes for the real thing to Switzerland It's a principle thing This can't do it Oh there you go On principle Saying a great story Go to Bloomberg dot com can't you catch on on Instagram It's worth it's worth a read Xenophobia with the very latest on the magic Al.
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"Fight against COVID-19 Israel is said to become the first country to begin administering a fourth dose of the COVID-19 vaccine And this as the country's parliament bans to the travel to ten countries including the United States Canada and Germany someone foxman has more on the Simone Can you draw out for us the goalposts of this new campaign And what exactly they're planning in terms of rollout Yeah we'll use a health ministry director general still has to sign off for this The prime minister said told everyone to prepare themselves for this new campaign And it's going to be targeted at least for the moment at medical personnel People over the age of 60 and folks with other high risk factors that could expose them to the bad case of COVID-19 And this is notably only going to go for people who have received their booster dose their third dose of the COVID-19 vaccine over four months ago considering that we just saw the rollout of these booster shots back in July and Israel That's going to limit the number of population as well But if this is anything like what we've seen before in terms of booster doses we do expect that Israel would expand the population of people who could ultimately get this a fourth vaccine And this particularly because some small studies in the sheba medical center who's been testing a lot of the omicron variant in Israel already have pointed out that folks with 5 or 6 months since the second vaccination have very limited protection against the omicron variant still the challenge for Israel is going to be getting more people vaccinated because the population of people who've received two doses or more still at 62 and a half percent below some other countries particularly in those in the gulf And then in to buy their ruler sham hummingbird and also the maktoum has been ordered to pay when it's $700 million to his estranged wife and children What did the court state Yeah well this is actually the biggest award by the UK family court ever for this sort of thing And frankly a lot of this money is going to go to security and the loss of valuables by princess haya and her children The UK court has really been on the princess's side having found that Sheik Muhammad had ordered the hacking of her phones with that controversial NSO Pegasus software and also had done other things to potentially harass her also there was a very lavish lifestyle here So that's part of why this number is so big And then new signs that a planet election in Libya may get called off at the last minute exactly was the driver of that Now you have this election supposed to happen on Friday but the latest sign that it may not take place is that the head of the elections commission ordered the closure of various committees that were meant to facilitate the election the folks who run voting places polling places are still told to remain on standby The general consensus here in Eurasia group has some great notes about this has been that the election will likely not take place this year will likely be pushed into 2022 because there haven't been agreements on exactly what would happen the procedures around certain appeals There's various infighting within the government but of course what happens in Libya very important to the oil market So thank you for that Fox fund to kind of financial center in Doha I want to check in on the cryptocurrency space We have some news flow out from credit unions Basically they're looking for approval to hold digital assets like Bitcoin directly after a federal regulator clarified that they can provide cryptocurrency services to customers by partnering with third parties Bitcoin at the moment unchanged according 9100 a little bit of upside in Ethereum the Bloomberg galaxy crypto index up as well This is Bloomberg The market so much to explore at total wine and more Pinot noirs and regios champagnes and chardonnays plus.
Bloomberg Radio New York
"sheik muhammad" Discussed on Bloomberg Radio New York
"Asleep at the switch and they're doing their job And I think that's what the race market is reacting to here And that's another reason our rates call is going to end up being retired And that's a headwind for valuations And that's what's happened in the last three or four days Is at the end of the world at the end of the bull market of course not because the earnings story is still quite good But to have peak multiples and peak rate of change is unusual And we just think it's taking a little bit longer than normal We think it'll happen in the first half of next year multiples come down And then we move on our merry way It's not like I said it's not the end of the world but we have to deal with higher rates Tighter financial conditions and that means lower multiples overall and will large cap tech feel that Of course they will just like every other stock will What's so interesting about the range of forecasts for next year is the disagreement on the both the pace of economic momentum as well as the read through into the market The idea here that you do think that we're going to see a deceleration but that the fed will still hike rates and that that still be viewed as a tightening cycle that will reduce valuations How do you push back against TD securities call that that deceleration in growth will actually keep the fed on the sidelines and allow markets to continue to grind higher as they prepare for both very easy monetary conditions as well as a robust economy Well look I mean our House call as well we assumed that the fed is going to move more slowly than the market on rate hikes okay But the removal of asset purchases to basically to zero over the next 8 months I think it's pretty naive to suggest that that won't have some dampening effect on valuations More importantly Lisa I mean this is right in line with our mid cycle transition callers is the way always works So we've written about this for a while I mean 8 months they're talking about how this is very similar to 1994 2004 and 2011 As the economy recovers the fed is supposed to react to that That's their job and they're going to do their job And that's the normal progression You get the accelerative part of the recovery That's great Multiples actually expand at the same time That's what we've had And then as the federal moves policy accommodation multiples come down So you know I think that that's not going to play out the cycle I mean we're going with the odds And I think that process has begun It was somewhat interrupted in October We saw valuations actually expand again as rates came down and also I think as we saw the seasonal trade And then once that seasonal trade is over I think where we back on the path of just multiples coming down and it could be a matter of process isn't that to all happen at once We're talking about multiples coming down over the next 12 months So if it's gradual you know the market will deal and it will be sort of a chart I don't think it's gonna be a crash or anything like that That's not what we're calling for And really the opportunity is going to be finding the right things to own within the equity market something that we spend a lot of time on All right so what is it What do you want to own So right now we're very focused on earning stability and valuation Not surprisingly And one of the sectors that we think has those qualities right now is healthcare Healthcare is delivering delivering on your earnings Quite nicely And it's actually extremely cheap relative to its history and it looks pretty attractive Real estate later now reads what attractive in this kind of environment And we also think financials look good because you know they should do better as rates move higher and they're cheap So those are three sectors that we're recommending right now Mike Wilson thank you so much for joining us particularly on this holiday Wednesday Mike Wilson and Morgan Stanley of course he'll be looking at the economic data here in 20 minutes with his colleague Ellen zettner We'll have that We've got a really special treat seriously Mike McKee Michael McKee will be with us out of all of our economic data and truly expert at this He'll be with us in 6 minutes to really give a value add into a wall of data I've got about two hours of questions for him There is symbolism on a Wednesday as America is distracted Mister Erdoğan of Turkey is incredibly distracted with a set of economic financial domestic and international challenges The symbolism here is extraordinary of the president of Turkey meeting with Sheik Muhammad bin Zayed on ayan of Abu Dhabi They have been arguing for any number of years and for the gentleman from the United Arab Emirates to visit Ankara is extraordinary wrapped up in this as Persian Gulf politics and cutter and adversary of UAE but far more the symbolism here of a beleaguered Erdoğan out to 2002 His view of moving south with his vision of Turkey Lisa it's been absolutely shattered in the last three or four years Really represented by the lira and how it's absolutely plunged The idea of the worst they're a streak going back 20 years falling dramatically to the worst levels ever versus the dollar How much does this pressure him politically at home When people start to get sticker shock and understand what they can buy It's not a small matter He has an entrenched following which is not going to budge And by no means are we expert on this but our Istanbul bureau will have much more in this into 2022 Lara now under 12 a rally a big strong move on Turkish lira to 11.93 from the 13 .50 level yesterday So strongly U.S. futures negative 14 coming up America's economic data This is Bloomberg Now the latest news from New York City and around the world here's Michael Barr Tom Lisa cayley brace yourself for long lines at airports if you're flying for Thanksgiving.
990 The Answer
"sheik muhammad" Discussed on 990 The Answer
"Not an expert on the police but it's producer Conor's like Roxanne walking on the moon Yeah yeah yeah okay sure Yeah exactly I knew that they had like a lot of one hit wonder at all actually But anyways it's fine There are no beetles or Rolling Stones okay So let's just let's just be very clear So that was was that the redone version or was that the real version That was the redone one The original That wasn't the P diddy one Are you sure is P diddy producer Andrew born in the 90s Isn't he going to jail Oh no that's somebody else So all right what's going on in Afghanistan Well they are forming a government Charlie With a bunch of terrorists is that what they're doing That's the new founding Yeah that's what they're doing Yep We got a clip on it clip 11 if you want to throw to it It gives a nice summary But basically so these are the equivalent of Hamilton Madison J Adams Washington Jefferson and said they got Muhammad and Muhammad or whatever All right That have all been on the tear watchlist This is Joe Biden Colleague Sheik Muhammad instead of Hamilton yeah that's just gonna work great Play tape And by the way that's a weird yeah go ahead there we go For a lot of weeks now we were expecting The one who signed the deal with the Americans to be named as head of the cabinet Not many people had even held him as a contender but he was one of the closest associates of Mullah Omar the founder the cofounder of the movement Yeah I can't understand any of those names It's like Jim Carrey Is running the Taliban government So wait what's the significance of this Andrew We got like an all star team right Of terrorists that are now running the Taliban Is that right That's basically that's basically the sum of it Yeah we've handed over the entire country to a bunch of people We used to call terrorists and now we have Jen Psaki saying that they have an important decision to partner But aren't still Americans stranded in Afghanistan That's the point right Over a hundred Americans are still stranded in Kabul Is that right Yeah I'm not sure on the exact number I will tell you that there was an interesting story that is making a lot of headlines this morning about the State Department trying to take credit for four Americans that were rescued out of Kabul but basically the State Department saying we helped this and it was a private group that raised private money to get these people out and they're saying no State Department you're a bunch of liars You had nothing to do with this So again this is all propaganda They're trying to spin it as if they are not leaving any American behind The truth is they've left at least a hundred If not more in Kabul Over a hundred if not more So they're forming a new government and it's like a terrorist all star team Now I saw some news about colleague Sheik Muhammad is that right They are represented They're still no they are but they're trying to actually have the trial for Khalid Sheik Muhammad at 20 years after the fact Yeah pretrial hearing this week And it was supposed to it was originally scheduled for early 2020 but because of COVID it got delayed And you know because the federal government everybody has to wear like 18 masks and be 48 feet apart There's all these issues trying to actually get these court cases off the ground The tail then is invited 6 countries to take part in the announcement Turkey China Russia Iran Pakistan and Qatar and this is exactly what we've been saying Our sources were correct and the Biden regime brokered this completely I'm going to say happy new year to all of our Jewish listeners la Shana toba which means happy to the head of the year one of my favorite one of my favorite celebrations not for myself the participate but I think that it's important to remember all that has happened and all that will come And yum Kapoor I think is coming up soon as well It feels like the calendar at the high holidays are earlier this year Is that right Connor feels like usually it's October Anyway let's shot to all of our Jewish listeners God bless all of you Enjoy the third hour if you got an email list your thoughts freedom at Charlie Kirk dot com Check out the Charlie Kirk show podcast Thank you producer Andrew for helping me out See you guys tomorrow Philadelphia's a.m. 9 90 the answer This is Robert Davi allow me to introduce you to the most trusted name in precious metals Swiss America since 1982 they have been helping Americans protect their wealth from dangerous government spending and runaway debt Now it's no secret gold and silver prices have rocketed over.