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Cooler numbers marks the fed has reached the end of the hiking cycle. And siemens has a net quarter loss the ceo tells cnbc it will take years to work through the challenges keep in mind the charges are provisions for the future. We expect this over the next year to evolve and it will take us twotothree years to work through this of and berkshire jumps to 150 billion with Warren Buffett posting a 7 rise with chevron paying off for the oracle of omaha. Very warm welcome to street signs and special because it is the first time in over a month were back together. We calculated it. Five weeks we havent done the show together. I missed you. I missed the show. It feels good with that, i guess we should talk about aramco. A hard pivot. Lets get to it. The earnings do continue to roll in this time from aramco with 40 plunge in Second Quarter net profits with low oil prices with refin ....
Still this slowest growth in asia. Yousef i am yousef gamal eldin. Welcome to blommberg markets middle east. Further weakness for the turkish lira. This is taking its toll, the turkish lira are off 22 . Yousef absolutely. Worst quartershe in recent history, 15 weaker. This chart tells the story. Charted the turkish lira performance on a 2016 basis. That has come down. Major events like the attempted coup in 2016, then the Federal Reserve rate hike, that added additional pressure on the turkish lira. You also have higher oil prices. Currentnot help the account position. You have your external financing requirements and your corporate that load debt load. What did they do . They unexpectedly hold rates. We have calls from some, seeing it weaken further. You can see we are still close their to the overbought line on the relative strength index. Just under two hours away from the opening of the emirates markets. Picture, some volumes ....
Of the year until now, it is an uproar. Anna and we are live in paris at the annual forum, where we speak to the organizations secretary general, angel gurria. Here, on bloomberg. A very warm welcome. I am anna edwards in london. Manus good morning. I am manus cranny, in dubai. The china danger, should be drawn into the moment of calm . What is really going on. Dollaryuan,w you near a five year low, the title of this chart is yuan on the brink. This is january time. That is the fiveyear low. Alone,back 1. 5 in may the biggest loss since the devaluation last year, which was back here when you saw that ratcheting spiked. But this is really the interesting part. The fx reserves in china, they are building a lot, 17 billion in march and april. Are they really that volatile about defending the yuan . Capital outflows are getting less and less. Low,ollaryuan, fiveyear do we just drift that lower on the back of that data . There is many more questions than our answers in terms of manufacturin ....
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