Uncalled a critical moment for the region. Stocks in asia rising as investors await the results of diplomatic efforts that may help contain the israelhamas war. Gold is moving lower. Vladimir putin arrived in china on a Rare International trip for talks with xi jinping as the u. S. Presses beijing to reduce tensions in the middle east. Let me bring you breaking news the corporate space. We are getting numbers out of ericsson. The Swedish Telecom maker has Third Quarter net sales come in at 64. 47, will call it 5 billion swedish krona. He got perhaps a number that they already announced a 5. 2 drop previously with 64. 5 billion what they announced last week. This is a drop on the 60 billion a year earlier. You are seeing headlines come around their adjusted gross margin. It is 39. 2 . The ebitda margin dropped as well. We are waiting for the Fourth Quarter margin as well especially as we go into a tough time. We are seeing similar Market Trends for the Fourth Quarter and headlines across as well. The thing that is a Sticking Point is last week in addition to pronouncing the earnings they talked about the impairment charge related to linage. It is 32 billion and they are sticking with that when it comes to their overall earnings. We will bring you more analysis as we get it because earnings headlines are coming in and will affect the market trade when the european markets open at 8 00 a. M. London time. You are seeing a regional divergence starting off with the futures trade. It is read but only marginally. Your stoxx 50 futures virtually unchanged. A pullback in nasdaq 100 futures about 10 . In asia, a complete a different story and that part of the world and is counterintuitive what you are seeing in asian markets, a little bit of green on the screen. This is important because youre looking at the hang seng and nikkei and dollaryen as well. This is going to be a big part of the conversation about how much support it needs from the pboc. You are getting data coming into tomorrow that will suggest the economy in china is weakening but we knew that scared the green on the screen is from the expected support that followed. You are saying that having a real effect across asia pacific region. The dollaryen as well just shy of the 150 mark. 7. 31 on dollar versus the offshore yuan, crossing the crucial 7. 30 mark. Lets go cross assets. We start to talk about Monetary Policy being fed in. The bond selloff resumes. The 2year yield is 5. 10. The 10 year yield is 4. 75. That is creating a bid for the greenback. Interest rate differentials drive the dollar value higher and push the euro lower response. 1. 05 on the eurodollar. Brent crude is 89. 53. The theme is there are no massive market moves. The overall takeaway is investors are waiting for what the geopolitical conflict is going to bring in terms of diplomatic efforts in the market we prepared their the market readthrough. It is our top story, u. S. President joe biden will travel to israel tomorrow in a bid to prevent the conflict of engulfing the entire region. The visit comes as gaza braces for an expected ground offensive. He is coming here at a critical moment for israel, for the region, and for the world. He is coming here to do the following. First, the president will reaffirm the United States solidarity with israel and ironclad commitment to its security. Second, President Biden will underscore are Crystal Clear message to any actor, state or nonstate, trying to take advantage of this crisis to attack israel. Dont. Kriti lets get more from Bloomberg Oliver crook live in tel aviv. Talk to us about bidens latest trip and how much of a deterrent is it really . Oliver it will certainly be a deterrent continues to build the narrative that the United States has the back of israel under any circumstances. It will potentially deter would israel really launch a ground offensive while United States president is here . He is expected to arrive tomorrow and will go to israel, tel aviv, and jordan where he will meet with arab leaders including the president of egypt and the president of the palestinian authority, Mahmoud Abbas and the king jordan. The message will be clear from biden which is support for israel and deterrence, trying to deter the conflict from escalating. This is a top priority for everybody in the region. There is the question of diplomacy. He needs to address aid in getting it to gaza. We heard from Antony Blinken saying israelis are open to and devising a plan to create the conditions under which aid can get into gaza. However, that is the stage of rhetoric. The reality is there are 3000 people died in gaza according to the authorities and the humanitarian situation is completely devolving. There is a break off and the question is will the south border point into egypt, rafah, but that crossing open . We had thousands of tons of humanitarian aid waiting on the border that has not crossed in yet. Kriti that is a heartbreaking perspective. Talk to us about the other side, the war effort from the israelis. Oliver for the israelis, it has been focused on aerial bombardment and some operations from the sea that have bombarded gaza. They have been strikes in the north on hezbollah as well but the question is the ground operation. It is when it will take place in the israelis this weekend confirmed they will be a ground component in the next stage of this war. What will the scope be . We heard from the defense secretary of israel last night and heres what he said standing next to Antony Blinken. This will be a long war. The price will be high, but we are going to win for israel, for the jewish people, and for the values that both countries believe in. Oliver so, his message is bracing for a long war with a very high price. The question will be what form will it take in the ground vision take . Ground invasion take . Is there appetite to occupy gaza . The israelis said that is not something they want to do. Will this remain a one front more . War . Iran has been saying the time for a political solution is running out and the inevitability for a second front is approaching. Biden is walking directly into this complex calculation will we get a raid sirens across the country. Kriti bloombergs oliver crook live in tel aviv bring us the latest on both sides of the trinitarian crisis and thank you for your reporting. I went to continue with the Major Players and move on to russian president Vladimir Putin who has arrived in beijing for the third belt and road forum according to Chinese State media. Joining us now is Stephen Engle who is covering the story closely. Talk to us about the timing of this. The last time these two leaders met it was under very different circumstances. The war in ukraine had not taken all caps. Had not taken off yet. Stephen february of last year Vladimir Putin came to beijing and met with xi jinping and they solidified with a handshake no limits partnership. Within weeks, vladimir invaded ukraine and is dragging on as we know. China has been urged by western allies to use its influence on Vladimir Putin in moscow to deescalate in ukraine. It will be interesting with Vladimir Putin coming here whether the no limits partnership has been strained a bit by the overreliance of that partnership of russia relying on chinas economic help as the war drags on. With the other big flashpoint in the world, the middle east. The front page of the global times which is state media here, it says china urges israel to avoid total punishment in the gaza strip the foreign minister of china long the who has spoken wang yi was talked with counterpart in tehran as well as riyadh and turkey. There are diplomatic efforts going on behind the scenes by the chinese and wang yi is a critical individual here as the top people met in china because Joseph Burrell the top diplomat from the eu was here in beijing over the weekend and we talked to him briefly. He said he had a meeting with wang yi and expressed to get china to use its influence in tehran to deescalate and that is something the state media report mentioned, that the urged tehran that the most important thing is to help deescalate the communitarian crisis happening in gaza ahead of what is likely to be an israeli invasion. That is something Anthony Blinken is in an hourlong conversation on sunday with wang yi user influence to deescalate. There will be a Conference Tomorrow evening with wang yi and tomorrow morning watching the belt and road forum is xi jinping and a putin who will meet with him tomorrow morning. I do not expect publicly those two gentlemen to mention the conflict in the middle east and definitely they will not mention the war in ukraine publicly but they will talk about both of those conflicts. Kriti i love that you mentioned the reliance on china is a big piece of it and they are reporting that the yuan accounted for half of the value of all fx trading in moscow as of september. In january 2022 it was only 0. 4 . Talk to us about the success of the broader belt and Road Initiative. Is it still a broad china asserting dominant story of 10 years ago . Stephen it has scaled back for sure. Italy was the only g7 member was a signatory to the belt and Road Initiative and they are pulling out with the maloney government saying it is not going two ways. It is a one way partnership. In china is benefiting more. You are seeing debt levels in crises across africa and elsewhere in asia developing asia. Zambia had a default in ethiopia and sri lanka, all these countries in debt crises right now and they need Debt Forgiveness or restructuring. The biggest creditor and these develop mental loans is china. How willing are they to give debt relief at a time when they are having a slowing economy and their own debt crisis some property as well . Interesting times ahead and it will play out tomorrow as the belt and road forum kicks off. Kriti the fact that the form could provide alternatives to traditional imf and World Bank Solutions is quite telling of chinas role in the global economy. Stephen engle there in beijing. Thank you for your reporting. I want to go back to the european story in the translation from what is going on in the middle east. Two people were killed by gunfire in downtown brussels on monday night in an attack which is being investigated as possibly terrorist related. Lets get to maria tadeo in brussels. What is the latest on the ground there . Maria this shooting took place in brussels and two people are dead. It brings back memories of the 2016 terror attacks that hit this country. It was 7 00 p. M. Yesterday that two people were shot dead in a third peterson person shot was recovering in hospital. They were shot unprovoked by a man on the streets. We know that this man who belgium Authorities Say is suspected of carrying out the shooting in the name of terror and they acknowledged there is a social media video from this person. He vindicates his ax and says he is doing this indicates his ex and says he is doing it for the islamic state. He is still on the run and has not been caught. The belgium Authorities Say this is being investigated as a terror attack the belgian Prime Minister acknowledged those videos and messages from this person. There is not a lot of information at the time being but this individual is a 45yearold man who comes from tunisia and did not have the right to be in belgium legally in this country. Nonetheless, that is the profile the Prosecutor Office is investigating this as a possible terror motive. Kriti a lot of people woke up to those headlines this morning surprised to see something of that scale right here in europe. Maria tadeo in brussels. Coming up, the latest announcements on the israelhamas war. Professor Mahjoob Zweiri from Qatar University joins the next in the program. This is bloomberg. At ameriprise financial, our advice is personalized, based on your goals, whatever they may be. All that planning has paid off. Looks like you can make this work. We can make this work. And the feeling of confidence that comes from our advice . I can make this work. That seems to be universal. I can make this work. I can make this work. No wonder more than 9 out of 10 clients are likely to recommend us. Because advice worth listening to is advice worth talking about. Ameriprise financial. Kriti iran has warned an expansion of the war between israel and hamas is increasingly becoming unavoidable. Joining me now for a proper update is Mahjoob Zweiri, director of Global Study Center and professor of the middle east at Qatar University. A pleasure to have you, professor. Lets start with the risk of iran getting more involved. What was actually look like what does that actually look like the uncle mahjoob i have a strong view on this. I felt that this is a divergent of the whole story. What is happening in gaza is at the core business for focus. What is happening in gaza is an occupation, killing more than 3000 people, injuring more than 10,000 people. It is a sign of two things. The weakness of International Community led by the United States and secondly, that there is a lack of will to solve this problems which has lasted for more than 75 years. When you bring in other elements, the Major Players are failing to address the issues which are humanitarian issues and humanitarian port for thousand people and the suffering of the people in the last 16 years under siege. I ran has a major issue with israel and the United States and they will capitalize on the story but i ran is not the major issue. The major issue is what has happened in gaza and how the International Community is closing their eyes of all of those killing and casualties and how they are not able to understand 2. 3 Million People living without water and electricity and without basic normal rights for life. How those people are suffering without having a serious condemnation from the socalled modern world in the 21st century. Kriti it is a crucial and dire humanitarian situation and i dont think anyone is doubting that around the world, but professor, lets talk about the concerns from the International Community about irans funding of hamas and hezbollah and if the aid is turning into a regional escalation. It happens through the awning funding channels. What are the odds of that . Mahjoob this argument, the counterargument is what the United States does with israelis and how much they are spending what they are doing now sending all those troops and technologies and intelligence supporting. Im sorry to say this is an argument to say that what hamas is doing is wrong because iran is supporting her what israel is doing is right because the u. S. Is supporting. This is an inhuman argument and dehumanization of people in gaza and allowing what is happening on them. I am not denying that iran is benefiting and they have interest to see hamas winning. Iran has its own political agenda in the region. America has an agenda. These are complex agenda and who is paying the price . Humans, women, children. 1000 killed in gaza, 1000 children, more than 400 women. Those who are talking about human rights need one million wakeup calls so they can understand this. The issue is a divergent approach of going to other stories without focusing on the humanitarian issue and delaying this shows the hypocrisy of the International Community and lack of integrity when things happen in our country, everyone defends. When things happen in gaza, no one wants to do anything. Kriti a lot of people are looking at the humanitarian expectation and how this can work. Egypt and the humanitarian corridor is a big piece of the conversation around the world and World Leaders have actually condemned the way the israel has responded to the hamas attack. Mahjoob no, actually. Kriti before we actually dive into that, i want to ask you about the sanctions. I want to bring a chart to the International Audience talking about irans oil output and the role it plays in the global oil story. The country accounts for 11 of opecs total production. This chart shows when you Start Talking about a market narrative, this is a Financial Network and this is where the bull case oil sands. Stans. One of the questions that financial communities want to know is what do sanctions on iran regardless of the narrative potentially look like in the next coming weeks . Mahjoob whatever sanction has hardly had the economy. Iran is not a normal country when it comes to economy. Iran has a 1. 4 Million Barrels a day in a normal situation and now they are doing it on the black market with 600,000 barrels a day and they paid money for the international order. The sanctions are a major enemy of the iranian economy and state and these sanctions will last for a long time. I think it will last in light of this kind of iranian politics in the region