Hsbcs might be contracting in january for the if, time in six months. Rnlgt in the case of deja vu all over again. Jack liu issues a stern warning to congress saying time is running out to raise the countrys debt ceiling. A warm welcome to todays edition of Worldwide Exchange. Before getting out to jules the january flash composite coming in at 53. 2, the consensus on reuters was 52. 4. We saw stronger numbers from e theerm know,germany, 55. 9, the manufacturing and Services Side picking up, helped the euro dollar up to the best levels of the session around 1. 1. 3630. The slightly better performance from france and china, hsbc flash manufacturing number was weaker and contracted. More on that right now, jules . How are you doing . Im great, all good this morning, shining here, ross, but the spotlight not on me today, its very much on iran, with president Hassan Rouhani taking center stage in todays keynote speech at the World Economic forum. Hes come to davos in the hope of really wooing the Business Community here, the eu and the u. S. This week easing economic sanctions of course on the state in exchange for a halt to Irans Nuclear program, speaking before his arrival rouhani voiced optimism that iran and the u. S. Could go from animosity to friendship, a sense of optimism from the president there but listen to what people have been telling us about the state of play and the relations in iran. Very important to have a stable iran relations with iraq and if we have agreement between the west and iran that would encourage bp and others to invest in the region. We need to wait to see if there is an agreement sanctions are being lifted. If its not lifted its impossible for anybody to make business in iran and you just have an operation waiting for a better year to come. Its really interesting, isnt it, that were focused on the opportunities in iran right now, but then if you look at the fact that theyre not actually attending geneva, too, this talk here of weather president rouhani is being undermined within his own government at home, ross, so progress is slow on this one. I think much between twixt and tween, jules, this will sort of swing around quite a lot. People like the direction of travel. Where the final destination is we have to be extremely cautious about and tick haparticularly to started with the fact were going to start talking. Iranian crude production coming back in. Theres a long way between those two things happening. No, youre absolutely right. We have to wait to see on this front but president rouhani will be speaking later and we will be bringing you that on the show. We have a great show coming up, too. Yesterday talking to a lot of ceos getting a feel of the Business Community. Were switching into poli policymakers, well talk to the Prime Minister of finland, they have close relations with iran, the Prime Ministers of georgia and also catching up with the Prime Minister of holland of the nexterlands after Worldwide Exchange and the finance minister of ireland, too. Lots to come up on the show. Uni tune in tomorrow 9 00 well bring you live coverage of a panel, jeff will be monitoring the future of Monetary Policy. Al sand retonbini, haruhik haruhiko kurodo, larry summer, thomas jordan, george osborne. What they do this year will have a large impact. Head online for more coverage of this years davos gathering and follow cnbc world on twitter and using biggestrisks. Where we are on global activities this morning, advancers outpacing decliners 6 4. The ftse yesterday was down 8 points. This morning take a look at it and were flat, just up 4. The xetra dax down 4. Easyjet flew more passengers and although the airline has warned first half sales will be hit because of the later easter this year, right at the end of april. Logitech posted better than expected Third Quarter numbers, raised full year outlook for 2014, stock up over o12 , total sales came in at 630 million, up around 2 from the year before. The banco de sabadell in 2013 beat forecast and lower provisions against losses on real estate assets and yesterday the portuguese government say it may not impliement an accountin change and espurito san to up 2. 89 . Some of the individual stocks. Elsewhere talks between the Ukrainian Government and opposition leaders have broken down, auto speaks to thousands of protesters in kievs independent square, klitchko said hes willing to face the bullets of the police. The bloody streets of the capital left three people dead. Lets get more with jules in davos. Im joined by the georgian Prime Minister ga. Can i talk to you about the situation in ukraine . What do you see is the end game . Its a dramatic storstory. Ukraine is an important country and friend country to georgia. There is development, it is terrible. We do hope that the leadership of the ukraine and membership of the opposition will find a way to agree because we condemn the violence. We saw that people died and therefore we are very concerned about the recent development in ukraine. You didnt mention the key word russia and the influence they had on the ukraine versus a closer connection with the eu. Georgia itself actually did sign on the dotted line for closer relations with the eu. Thats right. Do you believe that russias recent moves to push the borders of some of your breakaway region is actually a warning to georgia . I wouldnt agree because ukraine and georgia is absolutely different story because georgia is not, is less dependent on russia. While ukraine is, i mean 100 , i would nt s wouldnt say 100 but 90 . We signed an agreement two month ago. This is the european choice and the european integration is a choice of our government and therefore this is backed by the will of the georgian people, according to the recent political surveys, 85 of the georgian population backs this decision and european integration. Thats why this is really different. So you dont expect any were pressure from russia because you were part of the soviet bloc. Weve been facing problems last year, we had a war in 2008, even this year a number of provocations and therefore we expect to have more provocations but i wouldnt say there will be no pressure from them. We are less dependent on russia so therefore the risk of minimal. Theres nothing russia would do to make you change your mind . I wouldnt say that, absolutely not. You have said that youll see better relations perhaps with russia, the travel visas, in particular. Umhum. What happens then if you want to further your relationship with in a i toe, again this is a real balancing act between closer negotiations with nato and russia. Ill tell you. Look what happened when we came into power 2012 after the parliamentary elections we changed rhetoric and we did our best in order to normalize relationship with russia. This was the number one recommendation even from the you state and others and there are we did our best and our exPrime Minister appointed a representative in Russian Affairs who did a great job, by the way and we normalized the situation with russia and also we could improve the cultural and trade relations with them. The russians opened the market and the export for example tripled in one year and so i think apart from this everything is going well in both our relationship. Which is crucial. Which is crucial absolutely. Unfortunately we cant he doesnt come, he doesnt it conflicts with the policy of the georgia government. On the one hand we change rhetoric, we are making all the constructive steps but on the other hand we are facing these problems along the occupation line and the provocations. Did europe make a mistake here . Which we dont understand. I understand you dont understand. I think a rot of other countries agree with you. Did the eu make a mistake and how do they reduce the influence of russia in the soviet bloc, former. The overriding message you want to move toward the eu and russia wont let you. The eu are active but theres something that thatabilities an cannot, maybe they can but they couldnt do it in the ukraine, and therefore we have to mac sure that, you know, were talking about georgia, right . Yes. Georgias Foreign Policy is unchanged and georgias european integration is irreversible and as i said, its a different story. We have georgian government that supports this european integration policy and this is backed by the will of the georgian people. Brilliant to speak to you, the Prime Minister of georgia is speaking to us there, very positive on the future eu relations. Russell, back to you. Zpr from your Camera Position 100 yards inside the congress center, president rouhani delivering a special address entitled iran in the world. Translator this is also how i view this forum. And i am here to convey my peoples message engagement, cooperation and peaceful coexistence. Distinguished participants, my view of social, economic and political issues is one of prudent moderation. This is a lesson i have learned from islam and deeply practiced in my political life. It was based on this that i decided to take part in our president ial election so as to implement at a national, regional and global level moderation and prudence, a prominent characteristic of iranians and the secret to their success throughout history. As i predicted, with the grace of god, the great people of iran opted for this approach and now they are rightfully demanding its implementation and reali realizati realization. The iranian peoples choice has been welcomed in the region and the International Arena as well. The first outcomes of which have been witnessed since my government of prudence and hope came into office. Ladies and gentlemen, the events and developments of the past six years in the Global Economy have shown that no one can live alone, no country can solve its problems on its own while disregarding others. No business can achieve Sustainable Growth without adhering to et cetera social responsibility and no power can regard its dominance as permanent. Globalization amidst the financial crisis has shown that we are all on the same boat. If we do not choose wise ship captains, a storm will harm us all. Widespread popular protests on all continents have shown that economic policies should take social justice and the interests of everyone into consideration, evan must benefit, only those policies and systems will endure that benefit the people, and that means all people. The koran, the holy book of muslims, has taught us that only that which benefits the people will endure on earth. My views of prudence and moderation are not restricted to iran. I see the status of iran pursuing policies of moderation, prudence and hope in the future Global Economy as greater than predicted, thus in policymaking, i take into consideration not only todays situation and that in the near future but a much more longterm outlook. Irans economy has the potential to be among the worlds top ten in the next three decades, a goal which i pursue in wider planning of social, economic, as well as domestic and Foreign Policy. In order to realize this goal, i seriously intend to prepare the groundwork for this implementation during the time that i am in office, and overcome all political and economic impediments in its way. Let me be clear. I view irans economy as the most congruent, capable and closest to that of successful emerging economies, and envisage irans place beside them in the future. This is because my election by the people of iran took place in the framework of a democratic system, allowing me to pursue the ideals of Economic Development, democracy and improvement of irans international relation. I hereby announce that one of the theoretical and practical pillars of my government is constructive engagement with the world. Without international engagement, objectives such as growth, creativity and equality is unobtainable. Iran enjoys one of the highest Human Development index rates. We will do our utmost to realize this immense National Resource in line with the development of our country. Additionally, we will make use of active Foreign Policy to achieve Economic Development. My government is fully prepared and ready to engage with all neighboring countries to achieve shared Practical Solutions and sustainable legal regimes on a range of issues such as the environment, joint economic projects, trade expansion, realization of the palestinian peoples rights, tackling the humanitarian crisis in syria, security of the persian gulf, as well as the fight against terrorism and extremism. I believe that peace and security in the middle east is dependent on the expansion of economic relations, social and cultural cooperation, tourism, value in the private sector, and cooperation of elites at the international level. The crises at the start of the 21st century show that economic factors alone are not enough to provide a better life for people. In addition to economic wellbeing, people need culture, spirituality and ethics. Economics without ethical boundaries will lead to the destruction of a healthy environment for humans, and instead of increasing satisfaction will lead to a race towards greedy consumerism and the destruction of intergenerational resources. Common human ethics can be the basis for a common trend among human societies, bind them together, improve order, security and tranquility and make life more enjoyable. Distinguished participants, as head of my countrys government, i am fully aware of how important stability of behavior and policymaking is in governance. Whether in the domestic or International Arena, this is critical for us. This is why Regional Cooperation has become a priority for us in the Foreign Policy arena and why we seek to deepen relations with neighboring countries. We intend to reopen trade industrial and economic relations with all of our neighbors such as turkey, iraq, russia, pakistan, afghanistan, persian gulf literal states, the caucuses region as well as central asia and begin multilateral and political cooperation. We have also had a history of deep economic and trade ties with european states with the implementation of the geneva agreement and its subsequent step, irans relations with europe will be normalized. Engagement between iran and the United States has also entrd a new phase during the past month and for the first time, politicians from both countries have negotiated exchanged views and have made decisions to resolve differences in relation to the Nuclear Issue. This is a Major Development since eye reasons islamic revoluti revolution. The Islamic Revolution and the foundation of the Islamic Republic were the result of more than a century of freedomseeking struggles of the iranian nation, and this young republic is growing and flourishing. Therefore, it is necessary that the ruling bodies in the United States accept irans historical realities not only in words but in actions as well. Ladies and gentlemen, i come from a region of the world which url unfortunately is burning in the flames of insecurity and violence. Even though my country has experienced a new chapter of security and hope thanks to its natural solidarity as well as religious democracy and despite external pressures, we cannot be indifferent to the pain and suffering of our fell row brethren in the region. Violence and terrorism is a fire in Human Society which doubtlessly will engulf those who ignite it. It is true that extremism and violence gets its rank and file from the army of the hungry and the unemployed, thus i believe that the fundamental approach in fighting terrorism should commence with development only through cultural improvement and job creation is it possible to replace suicidal hopelessness with hope for the future and use faith in god to serb humve huma instead of destroying it. The main problem with the governance of despotic leaders is their distance from the people and how they manage their economies and societies by relying on foreigners. The people who dont see themselves as part of this management and revolt against the oppression while the terrorists take advantage of this situation to recruit the owe pressed to their unholy cause. I believe that the security of the world is intertwined with the security of the middle east, the security of this region cannot be achieved by disregarding its people. Therefore, in order to have Global Security, it is necessary to hear the voices of the people of the region and create jobs and hope among the youths of these countries. I strongly believe that the path of security passes through culture, ethics and development. However, if we want everyone to work towards creating security, everyone should feel secure themselves, since feeling insecure and deprived from ones rights is a motivation for rising up against unjust systems. Thus in reshaping the International Community we have to make sure that all nations feel they enjoy equal opportunity for economic and social development, and see competition as fair and based on merits. If some actors are deprived from being present in this competition for no specific reason, in the end, everyone will be deprived from utilizing their abilities to the utmost. It is necessary for a safe and developed International Community that everyone benefits from Economic