Trump's Venezuela Oil Play; Saudi Opens Up Stock Market | Horizons Middle East & Africa 1/7/2026

Watch on YouTube ↗  |  January 07, 2026 at 07:56  |  45:51  |  Bloomberg Markets
Speakers
Maurice Gravier — Wealth Management Group CIO, Emirates NBD
Rachel Ziemba — Founder, Ziemba Insights
Joumanna Bercetche — Anchor, Bloomberg
Zainab Fattah — Bloomberg Reporter
Christine Burke — Saudi Bureau Chief, Bloomberg
Jensen Huang — CEO, NVIDIA
Min Min Low — China Correspondent, Bloomberg

Summary

The program covered President Trump's Venezuela oil deal, Saudi Arabia's moves to open its real estate and stock markets to foreign investors, and geopolitical developments including Greenland and China-Japan tensions. Guests discussed global markets, emerging-market and Chinese equities, copper, critical minerals, gold and silver, and Saudi issuance. Nvidia and Siemens also announced an industrial AI partnership at CES.

  • Trump says Venezuela will send up to 50 million barrels of oil to the U.S., with oil lower on supply and Ukraine peace prospects.
  • Saudi Arabia opens real estate to foreign buyers and removes foreign-investor requirements for stocks.
  • Maurice Gravier favors EM fixed income, EM/Chinese equities, and expects copper to be supported.
  • Rachel Ziemba sees continued support for copper, critical minerals processing, gold and silver, while oil demand flattens.
  • Saudi homebuilding faces a large housing shortage and affordability challenge as foreign ownership rules are finalized.
  • Saudi stock market liberalization could lead to ownership caps above 49% after a review.
  • Saudi Arabia is frontloading international borrowing, raising about $25 billion early in 2026.
  • Nvidia and Siemens expand a partnership to build industrial AI systems; Jensen Huang discusses broader industrial AI deployment.
Ideas
Joumanna Bercetche Anchor, Bloomberg 1:56
Brent faces bearish 2026 supply fundamentals
Brent faces near-term negative catalysts from Venezuela shipments and potential Russia-Ukraine peace progress, while longer-term 2026 supply fundamentals are bearish.
BNO MED
Maurice Gravier Wealth Management Group CIO, Emirates NBD 12:11
Copper supported by liquidity and AI capex
Copper should be supported by AI capex, U.S. tax refunds and Fed liquidity/quantitative easing; although he does not invest directly in copper, he sees it as supported in the current pro-growth, liquidity-rich backdrop.
COPPER MED
Maurice Gravier Wealth Management Group CIO, Emirates NBD 12:29
Overweight EM fixed income for best risk/reward
He just decided to overweight emerging-market assets in fixed income because he sees the best risk/reward there, while expecting more volatility elsewhere.
EMB MED
Maurice Gravier Wealth Management Group CIO, Emirates NBD 12:37
Overweight EM equities, especially Chinese equities
He is overweight emerging-market equities with a preference for Chinese equities; China's valuations are attractive relative to elsewhere and geopolitical risks are less likely to derail China because no one can challenge China in Asia in a strongman/superpower world.
EEM FXI MED
Jensen Huang CEO, NVIDIA 16:07
Nvidia-Siemens partnership expands industrial AI
Nvidia and Siemens are expanding their partnership to accelerate Siemens' EDA/simulation software and integrate agentic AI into Siemens' industrial/factory automation operating system; Nvidia will use the software for chip and AI-factory design and deploy it in its own factories with partners like Foxconn, broadening industrial AI use cases and supporting both companies.
NVDA SIEMENS MED
Rachel Ziemba Founder, Ziemba Insights 32:31
Copper benefits from electrification and supply shocks
Copper is tied to electrification across the board and has both a demand story and supply shocks; even as global oil demand flattens, she expects continued support for copper.
COPPER MED
Rachel Ziemba Founder, Ziemba Insights 33:06
Critical minerals processing demand remains strong
She sees a push to build out more processing, especially for critical minerals, as part of a weaponized-economy/sovereign race to secure transition and AI-critical materials.
REMX MED
Rachel Ziemba Founder, Ziemba Insights 33:11
Gold and silver supported by weaker dollar
Gold and silver are inflation plays and a way to express a potentially weaker dollar, central-bank-independence concerns and a hot U.S. economy; she does not expect gold to repeat 2025's huge run but expects a number of metals to remain supported.
GLD SILVER MED
Zainab Fattah Bloomberg Reporter 36:17
Saudi real estate opening unlocks capital
Saudi Arabia opening real estate to foreign buyers is a game changer that can unlock capital for a construction boom; there is a housing shortage, a large population and real demand, though affordability and possible area restrictions remain risks.
KSA HIGH
Christine Burke Saudi Bureau Chief, Bloomberg 40:45
Saudi equities gain from foreign liberalization
Saudi Arabia removed foreign-investor requirements and may review the 49% ownership cap, a first step toward full liberalization; this should boost foreign participation and is welcome after the market's worst year since 2015.
KSA HIGH
Christine Burke Saudi Bureau Chief, Bloomberg 42:28
Watch Saudi bond issuance pace
Saudi Arabia is frontloading international borrowing, raising about $25 billion in the first days of 2026, or 40% of expected $58 billion financing needs, to plug a wide budget deficit caused by mega-project spending and lower oil; investors should watch whether issuance continues rapidly or shifts to private markets.
Saudi bonds MED
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This Bloomberg Markets video, published January 07, 2026, features Joumanna Bercetche, Maurice Gravier, Jensen Huang, Rachel Ziemba, Zainab Fattah, Christine Burke discussing BNO, COPPER, EMB, EEM, FXI, NVDA, SIEMENS, REMX, GLD, SILVER, KSA, Saudi bonds. 11 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Joumanna Bercetche, Maurice Gravier, Jensen Huang, Rachel Ziemba, Zainab Fattah, Christine Burke  · Tickers: BNO, COPPER, EMB, EEM, FXI, NVDA, SIEMENS, REMX, GLD, SILVER, KSA, Saudi bonds