surprise plans to spend 4000000000 euros on a huge factory. raising eyebrows in the german car industry. also chinese with day to day. this is business as. saudi. aramco is set for the world's biggest i.p.o. despite being forced to downsize their fund raising target. 1.5 percent of the company. more than $25000000000.00 although it would still make it. at $1.00 trillion dollars that is still less than the 2 trillion dollars the government had hoped for officials. to demand from foreign investors.

let's bring in. joins us now from london it will be the biggest i.p.o. of all time but the saudis were planning to make. the sale why did they have to pay back their expectations. well i think their expectations were ultimately slightly high to try and value the overall. business 2 trillion to me was partly a vanity project but very valued and when when they were when they were asking the overseas investors to get involved it was lukewarm pretty much of what he said it's 2 trillion is far too much more realistic valuation now seems to be around the 1.7 trillion to 1.7 trillion but even then i think the market in general still believes that could still be slightly on the high side so i think you know they've just adjusted to reality to a certain degree was the valuation the only reason that international investors

stayed away well i think not necessarily i mean what you've got to look at is the saudi arabian market is a fairly limited access market for foreign investors. and there are concerns with regards to control and political influence within the saudi aramco business as a whole than unfortunately i think what we have seen over the years is the roll family getting more involved and you know one of the one of the princes now in charge of the oil ministry that's usually you know something that doesn't happen and ultimately that means more control over for for investors unlike with shell b.p. chevron all the other all companies they will not have that much control. will this move help this is only 1.5 but will it help when the saudi economy of all is that possible. the saudi saudi are encouraging rates roughly 2 thirds of government revenues so it's going to be very hard to do in the very short

term i know this is only $1.00 and $1.00 and a half percent also at the moment but it's something that will take you know years if not decades there is this vision 2030 lb by the crown prince. ultimately will help but there are a number of other factors that be they need to change i think the relationship between politics and economics is to close at the knees before more independence of the private sectors i think there is an issue with the large companies dominating individual sectors because of the close connections with the royal family and there really isn't that much in terms of financing for smaller companies who wield little influence or think there's a lot of transition within the overall economy and the whole system as a whole. from the share center in london thank you very much iran's supreme leader ayatollah ali hum and they has backed the gasoline price

rises that have caused a nationwide protests demonstrations broke out across the country after the government raised the price of gas by 50 percent to iran's $0.12 a liter mass protests in the capital tehran and elsewhere some of which turned violent with demonstrators setting fires and breaking windows iranian authorities raise the official death toll to at least 3. u.s. electric carmaker tesla plans to invest up to 4000000000 euros in its recently announced factory outside berlin germany german media reports the creation of a so-called factory could bring thousands of jobs to a region weak in industrial factoring but no legal papers have been signed yet and tesla family ilan must does have a reputation as a corporate maverick. the announcement came as a total surprise. in. a news matter of fact.

we've decided to put. the plan is to build it in the small town of clean just east of. it'll be tesla's new europe factory where the s.u.v. model y. and batteries will be built it will create at least $7000.00 jobs and the factory will be built inside 2 years otherwise not much is known at the moment. the new competition right in german car makers backyard might also inspire more progress in german electro mobility and hippie that iran is is pulling us bad i think the german industries really know strongly in this thing and the bill keep you. alert. on friday folks are going to announced it will be investing 60000000000 euros in electra mobility and digitize asian. and staying in that sector u.s.

comic a forward has unveiled the new electric version of its classic sports car the mustang at a glitzy event in los angeles hosted by actor elba the company says the mustang mackie combines performance and green value some for the yes are disappointed because the new eve mustang is an s.u.v. those who are excited about the new car can place their orders for deliveries starting next. boeing as landed an order for 10 more the grounded 737 max from the fans are subsidiary sun express bringing the total number of the airline's orders of the controversial plane up to $42.00 both companies made the announcement at the aviation trade fair in dubai on monday that plane type was grounded worldwide after 2 crashes killed 346 people elsewhere at the airshow emirates and our bus buses shook hands on a deal that will see emirates

a hefty $16000000000.00 u.s. dollars for 50 airbus a $350.00 that. now let's get the market's view on this with contribution and fine for comment how much of a risk is it for an airline to order a model which is still not allowed to fly. well we don't know the details of the deal of course it's very very likely that boeing offered. the airline sun express a significant discount for this order and it's also very likely that this contract will not come into final effect before it's allowed that the 737 max will get back to the air in other contracts comparable ones we've seen the same trans aviator for example the german excuse me the european no frills ally and also said that they were willing to order the 737 max but

really when of course it's cleared to fly. boeing is not the only large plane maker in dubai hoping for new orders airbus has announced a big order as well how are they doing. very well guess what you just mentioned the large. that emirates has placed also air arabia has placed a fixed order worth around about 14000000000 euros air arabia is a new budget airline launched by 80 heart from abu dhabi and this order and the one from emirates shows that the competition in this market arabia continues to be really strong despite all the uncertainties in the region or booze in the frankfurt thank you very much. now it's been described as a game changer for combating climate change or curing diseases but for millions of

chinese people artificial intelligence is more about smaller household jobs like closing the curtains ai is increasingly a feature of everyday life in china but forming tasks that improve life but it's not without its effects. the star attraction on the streets of this neighborhood may be this talking parrot. but inside the homes here you find families like this one is talking not to their tropical birds but to their home control systems voice command technology has helped improve life for the lead one family that we have to our back hatch family. performing the simplest of tasks. at a show have gone that brings more comfort to our ally and it makes as much happier . thanks to advances in sound recognition technology elderly

chinese people can now access the benefits of ai through other for a while we've found that with the voice recognition it was easier for older people to use the same way i devise is one card or feet on the board but for all the promise there was plenty of peril about ai use in china and shouldn't john artificial intelligence forms a key part of the state's repression and imprisonment of some 1000000 we got news limbs. in hong kong protestors fighting for democracy where mosques trade bait the clutches of the facial recognition technology capable of identifying gender age and much more. see can't we meet you and i speak to you too it is in the thread clear field of robotic where china hopes to we'll talk to all control can bot has already sold 100000 drop watch for use across the service sectors from hotels in airports to

hospitals and banks. of china our armies are promoting technology especially education in the primary school high school or even in college and technology is pressuring the service record industry. anywhere else. to the ears of chinese officials as the value for an edge in the race for global supremacy. and that's it for me and the business team here in berlin for all the business news background stories and features dula go to our website this dot com slash business it's also follow us on social media we're on facebook on twitter for the go is a quick look up close. markets after some. odd

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conspire. people. go out for coffee from time to. join them as they set out to save the environment learn from one another work together for a better future. many cars do you own putting it. on w. . she had no halflings this is balz speaking when i come to. the show with. concerts with gifts.

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this is. from. a seems to universe the pro-democracy protests hundreds of dumbest. it was a barricaded inside followed a series of violent confrontations and they won't trying to leave faces the rest of the program. german racing driver saffir flush returns to competition in macau a year after suffering a horrific crash on the streets.